Bauman: Anadarko Has More Room to Run
The Legg Mason ClearBridge Aggressive Growth manager discusses his team's conviction behind the energy name, which is the fund's top holding.
Shannon Zimmerman: You and Richie [Freeman of Legg Mason ClearBridge Aggressive Growth Fund] are also high-conviction investors, not only in terms of being willing to have sizable sector allocations, but in terms of individual names as well. At the end of March, the biggest name in the portfolio was Anadarko Petroleum, I think. You have a pretty good exposure to energy, and that's the largest name there with about an 8% position size. What's attractive about that company, which is down on a year-to-date basis, but over the last 12 months, has done quite well?
Evan Bauman: It's their global presence, and rather than trying to predict the next $5 or $10 move in the prices of the commodities, which has become commonplace, we've owned Anadarko for over eight years now. The beauty of Anadarko is some of their exploration successes around the world. So, we're really focused.
Shannon Zimmerman does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.