ClearBridge Mid Cap Growth Fund
LBGIX
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- ClearBridge Mid Cap Growth Fund (LBGIX) is a mutual fund that invests primarily in a diversified portfolio of equity securities issued by mid-sized companies, seeking long-term capital appreciation through holdings in firms exhibiting exploitable multi-year growth opportunities, attractive valuations, disciplined capital allocation, solid free cash flow, and strong balance sheets. The fund benchmarks its performance against the Russell Midcap Growth Index and maintains a portfolio turnover rate of approximately 23%, with current allocations emphasizing industrials (22.52%), information technology (17.77%), health care (16.52%), and consumer discretionary (15.39%) sectors; top holdings as of recent reports include Palantir Technologies Inc., AppLovin Corp., Copart Inc., HubSpot Inc., and Tradeweb Markets Inc., alongside newer positions such as Pure Storage Inc., Cloudflare Inc., Shift4 Payments Inc., Howmet Aerospace Inc., and Comfort Systems USA Inc. Class I shares (LBGIX) feature no front-end sales load, an inception date of August 31, 2010, and total net assets of $293.65 million as of late 2025, with a weighted average market capitalization of $40.45 billion and 77 holdings focused on U.S. mid-cap growth stocks. The fund operates under ClearBridge Investments, LLC, a global equity investment manager with over 60 years of history in proprietary research and fundamental investing, headquartered in New York City with additional offices in Baltimore, MD; Fort Lauderdale, FL; Calgary, Canada; and various locations in the United Kingdom and Australia. ClearBridge Investments functions as a subsidiary of Franklin Resources, Inc. (Franklin Templeton) following the 2020 acquisition of Legg Mason, Inc., which previously rebranded the firm from Citigroup Asset Management in 2005; this structure provides a centralized investment platform led by long-tenured managers, including those overseeing the fund since 2010, 2020, and 2023. In recent developments, the fund's strategy has demonstrated outperformance relative to its benchmark in Q3 2025 amid stabilizing earnings and policy shifts, including the passage of the One Big Beautiful Bill and progress on trade agreements, while executing portfolio adjustments such as exiting positions in Corpay Inc. (CPAY) and Deckers Outdoor Corp. (DECK). ClearBridge Investments completed the integration of Martin Currie into its operations in September 2025, enhancing its Australian equities and emerging markets capabilities under a unified brand with access to expanded research resources, aligning with Franklin Templeton's broader asset management strategy. These changes underscore ongoing active management adaptations, including sector rotations toward resilient technology and AI-related exposures, amid a portfolio that has sustained positive contributions across seven of eleven sectors in recent quarters.