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ClearBridge Appreciation FI LMPIX

Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 34.58  /  +0.88 %
  • Total Assets 8.5 Bil
  • Adj. Expense Ratio
    1.050%
  • Expense Ratio 1.050%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category Large Blend
  • Investment Style Large Blend
  • Min. Initial Investment
  • Status Open
  • TTM Yield 0.52%
  • Turnover 13%

USD | NAV as of Mar 27, 2024 | 1-Day Return as of Mar 27, 2024, 10:19 PM GMT+0

Morningstar’s Analysis LMPIX

Will LMPIX outperform in future?

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

Longtime PM Is Stepping Aside; Ratings Unchanged

null Jack Shannon

Jack Shannon

Analyst Note

Longtime comanager Scott Glasser is stepping off this strategy effective Dec. 31, 2024, to focus his energies solely on his role as chief investment officer of ClearBridge. Glasser began managing this portfolio at the end of 2001, and over his 20-plus years at the helm, this strategy’s I shares effectively matched the Russell 1000 Index, albeit with lower volatility, and thus, better risk-adjusted results. This move is not very surprising; Glasser is nearing the end of his career, and Stephen Rigo was named a portfolio manager in September 2022 in what was a succession-planning move. Glasser’s experience will be missed, but Michael Kagan, who began managing this portfolio alongside Glasser in August 2009, remains as a veteran comanager beside Rigo. Like Glasser, Kagan is also closer to the end of his career than the beginning. However, he probably has a bit longer runway than Glasser, and he expressed to Morningstar in early 2023 that he has no imminent plans of retirement. ClearBridge is committed to a multimanager model for running portfolios, so even in the event of Kagan’s departure, investors should expect ClearBridge to name a replacement to manage alongside Rigo.

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Portfolio Holdings LMPIX

  • Current Portfolio Date
  • Equity Holdings
  • Bond Holdings
  • Other Holdings
  • % Assets in Top 10 Holdings 36.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Microsoft Corp

8.95 691.6 Mil
Technology

Apple Inc

6.61 510.7 Mil
Technology

Berkshire Hathaway Inc Class A

3.58 276.7 Mil
Financial Services

Visa Inc Class A

2.92 225.6 Mil
Financial Services

Amazon.com Inc

2.75 212.9 Mil
Consumer Cyclical

JPMorgan Chase & Co

2.55 197.1 Mil
Financial Services

UnitedHealth Group Inc

2.22 171.6 Mil
Healthcare

Merck & Co Inc

2.18 168.2 Mil
Healthcare

TJX Companies Inc

2.13 164.6 Mil
Consumer Cyclical

Honeywell International Inc

2.08 161.0 Mil
Industrials