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ClearBridge Growth FI LMPFX

Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 111.95  /  −0.29 %
  • Total Assets 4.5 Bil
  • Adj. Expense Ratio
    1.070%
  • Expense Ratio 1.070%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category Large Blend
  • Investment Style Large Growth
  • Min. Initial Investment
  • Status Open
  • TTM Yield 0.20%
  • Turnover 10%

USD | NAV as of Jun 20, 2024 | 1-Day Return as of Jun 20, 2024, 10:18 PM GMT+0

Morningstar’s Analysis LMPFX

Will LMPFX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

A New Name and New Comanager Incoming; Ratings Unchanged

null Jack Shannon

Jack Shannon

Analyst Note

ClearBridge Aggressive Growth is getting rebranded as ClearBridge Growth effective May 1, 2024. In addition, its official benchmark is changing from the Russell 3000 Growth Index to the Russell Midcap Growth Index. However, these changes will not affect the day-to-day management of the portfolio, as it has virtually no index-relative constraints. Its Morningstar Medalist Rating remains unchanged. The “aggressive growth” moniker has not made sense in years, as there were periods under previous manager Richie Freeman’s tenure that the portfolio nearly landed in value waters. However, the strategy has a new direction under Aram Green’s watch. Green has a small- and mid-cap growth background, and while this fund currently sits in the large-blend Morningstar Category, it has been getting steadily growthier under Green’s command. This name change is supposed to reflect the reality that this portfolio is essentially an all-cap mandate. Green tends to invest in smaller-cap companies than peers, and its Morningstar Size Score ranks among the lowest in the category. While Green will own growth stocks up-and-down the market-cap ladder in this strategy, he likely will not own the dominant mega-cap technology companies, as he is looking for unique, emerging businesses that can grow into tomorrow’s behemoths. From that perspective, switching to the Russell Mid-Cap Growth Index makes some sense, as the Russell 3000 Growth is dominated by those mega-cap technology companies. This fund is still likely to have significantly more large-cap exposure than its new Russell Midcap Growth Index. Overall, investors should expect this strategy to settle near the large-growth and mid-cap-growth border, though it will likely be a tough one to benchmark owing to its non-cookie-cutter portfolio. In addition to the name change, Amanda Leithe will be named comanager on the portfolio effective May 1. Leithe has served as a portfolio analyst—effectively a portfolio-manager-in-waiting role—on this strategy for a couple of years, so she is well-versed in both the investment philosophy and the portfolio.

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Portfolio Holdings LMPFX

  • Current Portfolio Date
  • Equity Holdings
  • Bond Holdings
  • Other Holdings
  • % Assets in Top 10 Holdings 52.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Vertex Pharmaceuticals Inc

7.40 333.2 Mil
Healthcare

Broadcom Inc

7.19 323.9 Mil
Technology

CrowdStrike Holdings Inc Class A

6.62 297.9 Mil
Technology

Autodesk Inc

6.09 274.4 Mil
Technology

UnitedHealth Group Inc

5.70 256.9 Mil
Healthcare

TE Connectivity Ltd

5.29 238.1 Mil
Technology

HubSpot Inc

4.67 210.2 Mil
Technology

L3Harris Technologies Inc

3.49 157.1 Mil
Industrials

Comcast Corp Class A

2.89 130.0 Mil
Communication Services

Johnson Controls International PLC

2.79 125.5 Mil
Industrials