52467X708

ClearBridge Variable Mid Cap Portfolio

As of 11/04/2025

NAV ¹

$24.08

Overall Morningstar Rating

As of 09/30/2025

Rating Category: Mid-Cap Blend

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Morningstar Style Box

As of 08/31/2025

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

Historical Morningstar Ratings

As of 09/30/2025

Years	3
Ratings
Number of Funds In Category	55

Years	5
Ratings
Number of Funds In Category	53

Years	10
Ratings
Number of Funds In Category	49

©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

See the risks and other important information.

Overview

Fund Description

Invests in a diversified portfolio focused primarily on mid-sized companies
Seeks long term capital appreciation through a disciplined, consistent and transparent investment process
Investment returns are driven by stock selection, with a strong focus on risk management in portfolio construction

Meet Your Manager

ClearBridge Investments

ClearBridge Investments is a well-established global investment manager focusing on proprietary research and fundamental investing. With over 60 years of experience building portfolios for clients seeking income solutions, high active share or low-volatility, long-tenured portfolio managers provide strong leadership in a centralized investment structure.

Fund Information

Asset Class

Equity

Total Net Assets

As of 09/30/2025 (Updated Monthly)

$280.56 Million

Fund Inception Date

11/01/1999

Share Class Inception Date

11/01/1999

Benchmark

Russell Mid Cap Index

Investment Style

Mid Cap

Morningstar Category

Mid-Cap Blend

Lipper Classification

Mid-Cap Core Funds

Sales Charges, Expenses & Fees

As of 05/01/2025

Gross Expense Ratio

0.81%

Net Expense Ratio

^2, 3

0.81%

12b-1 Fee

0.00%

Identifiers

Ticker

QLMMIX

Fund Number

7674

CUSIP Code

52467X708

Bloomberg Code

QLMMIX US

Portfolio Managers

Brian Angerame

New York, United States

Managed Fund Since 2005

Matthew Lilling, CFA®

New York, United States

Managed Fund Since 2020

Performance

Average Annual Total Returns

As of 09/30/2025

From

	Month End As of 09/30/2025	1 Year	3 Years	5 Years	10 Years	Since Inception 11/01/1999
	Class I - Without Sales Charge (NAV) (%)	11.06	12.96	9.22	8.38	8.15
	Russell Mid Cap Index (%)	11.11	17.69	12.66	11.39	—

Month End

As of 09/30/2025

Class I - Without Sales Charge (NAV) (%)

1 Year

11.06

3 Years

12.96

5 Years

9.22

10 Years

8.38

Since Inception

11/01/1999

8.15

Month End

As of 09/30/2025

Russell Mid Cap Index (%)

1 Year

11.11

3 Years

17.69

5 Years

12.66

10 Years

11.39

Since Inception

11/01/1999

—

Performance shown represents past performance and is no guarantee of future results. Current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate, so shares, when redeemed, may be worth more or less than the original cost. The performance returns do not reflect the deduction of insurance contract charges and expenses imposed in connection with investing in a variable annuity or insurance contracts, including but not limited to administrative fees, account charges and surrender charges, which if reflected, would reduce performance. Performance for other share classes will vary due to differences in sales charge structure and class expenses. Total returns assume the reinvestment of all distributions at net asset value and the deduction of all Fund expenses.

Calendar Year Returns

As of 09/30/2025

	Month End As of 09/30/2025	YTD	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	Performance Inception Date
	Class I - Without Sales Charge (NAV) (%)	8.35	10.01	12.92	-25.31	28.71	15.35	32.95	-12.52	12.80	9.34	2.31	11/01/1999
	Russell Mid Cap Index (%)	10.42	15.34	17.23	-17.32	22.58	17.10	30.54	-9.06	18.52	13.80	-2.44	—

Month End

As of 09/30/2025

Class I - Without Sales Charge (NAV) (%)

YTD

8.35

2024

10.01

2023

12.92

2022

-25.31

2021

28.71

2020

15.35

2019

32.95

2018

-12.52

2017

12.80

2016

9.34

2015

2.31

Performance Inception Date

11/01/1999

Month End

As of 09/30/2025

Russell Mid Cap Index (%)

YTD

10.42

2024

15.34

2023

17.23

2022

-17.32

2021

22.58

2020

17.10

2019

30.54

2018

-9.06

2017

18.52

2016

13.80

2015

-2.44

Performance Inception Date

—

Cumulative Total Returns

As of 09/30/2025

The hypothetical growth scenario of $10,000 does not reflect the deduction of brokerage commissions or taxes that investors may pay on distributions or the sale of shares. Had they been reflected hypothetical values would be lower.

From

	Month End As of 09/30/2025	YTD	1 Year	3 Years	5 Years	10 Years	15 Years	Since Inception 11/01/1999
	Class I - Without Sales Charge (NAV) (%)	8.35	11.06	44.15	55.42	123.54	317.92	661.52
	Russell Mid Cap Index (%)	10.42	11.11	63.01	81.47	194.01	451.44	—

Month End

As of 09/30/2025

Class I - Without Sales Charge (NAV) (%)

YTD

8.35

1 Year

11.06

3 Years

44.15

5 Years

55.42

10 Years

123.54

15 Years

317.92

Since Inception

11/01/1999

661.52

Month End

As of 09/30/2025

Russell Mid Cap Index (%)

YTD

10.42

1 Year

11.11

3 Years

63.01

5 Years

81.47

10 Years

194.01

15 Years

451.44

Since Inception

11/01/1999

—

Historical Cumulative Total Returns

From

	Date Selected As of 09/30/2025	YTD	1 Year	3 Years	5 Years	10 Years	15 Years	Since Inception 11/01/1999
	Class I - Without Sales Charge (NAV) (%)	8.35	11.06	44.15	55.42	123.54	317.92	661.52
	Russell Midcap Index (%)	10.42	11.11	63.01	81.47	194.01	451.44	—

Date Selected

As of 09/30/2025

Class I - Without Sales Charge (NAV) (%)

YTD

8.35

1 Year

11.06

3 Years

44.15

5 Years

55.42

10 Years

123.54

15 Years

317.92

Since Inception

11/01/1999

661.52

Date Selected

As of 09/30/2025

Russell Midcap Index (%)

YTD

10.42

1 Year

11.11

3 Years

63.01

5 Years

81.47

10 Years

194.01

15 Years

451.44

Since Inception

11/01/1999

—

Risk Measures

As of 09/30/2025

Measured against: Russell Mid Cap Index

Statistics	3 Years	5 Years	10 Years
Alpha (%)	-3.88	-2.98	-2.72
Beta	0.99	1.00	1.01
R-Squared	0.94	0.95	0.96
Historical Tracking Error	4.03	3.94	3.64
Information Ratio	-1.17	-0.87	-0.83
Upside Capture Ratio	93.83	95.81	94.30
Downside Capture Ratio	111.89	107.95	105.85

Standard Deviation (%)	3 Years	5 Years	10 Years
Class I - Without Sales Charge (NAV)	17.04	18.41	18.15

Sharpe Ratio (%)	3 Years	5 Years	10 Years
Class I - Without Sales Charge (NAV)	0.52	0.41	0.42

Portfolio

Assets

As of 09/30/2025 Updated Monthly

Total Net Assets

$280.56 Million

Positions

As of 09/30/2025 Updated Monthly

	Fund	Benchmark
Number of Holdings	66	813

Portfolio Allocations

Sector Allocation

As of 09/30/2025 Equity as a % of Total Updated Monthly

	Fund	Benchmark
Industrials	17.36%	18.21%
Information Technology	14.25%	11.76%
Financials	13.40%	15.37%
Consumer Discretionary	11.40%	11.84%
Health Care	10.27%	9.32%
Consumer Staples	6.87%	4.86%
Real Estate	6.19%	7.30%
Utilities	6.17%	6.27%
Energy	5.61%	5.74%
Materials	4.07%	4.97%
Communication Services	2.00%	4.36%

Portfolio Holdings

Holdings

 Holdings  As of 09/30/2025   Updated Monthly

Security Name

Casey's General Stores, Inc.

Sector Name

Consumer Staples

Weight (%)

3.18

Market Value ($)

8,932,056

Quantity

15,800

Security Name

Teledyne Technologies Inc.

Sector Name

Information Technology

Weight (%)

3.11

Market Value ($)

8,731,996

Quantity

14,900

Security Name

Clean Harbors Inc

Sector Name

Industrials

Weight (%)

2.81

Market Value ($)

7,895,480

Quantity

34,000

Security Name

API Group Corp.

Sector Name

Industrials

Weight (%)

2.69

Market Value ($)

7,561,400

Quantity

220,000

Security Name

EQT Corp.

Sector Name

Energy

Weight (%)

2.68

Market Value ($)

7,527,669

Quantity

138,300

Security Name

Chewy Inc.

Sector Name

Consumer Discretionary

Weight (%)

2.62

Market Value ($)

7,361,900

Quantity

182,000

Security Name

Resideo Technologies Inc

Sector Name

Industrials

Weight (%)

2.62

Market Value ($)

7,340,600

Quantity

170,000

Security Name

PPL Corporation

Sector Name

Utilities

Weight (%)

2.61

Market Value ($)

7,313,088

Quantity

196,800

Security Name

Performance Food Group Co.

Sector Name

Consumer Staples

Weight (%)

2.60

Market Value ($)

7,282,800

Quantity

70,000

Security Name

AppLovin Corp

Sector Name

Information Technology

Weight (%)

2.46

Market Value ($)

6,897,984

Quantity

9,600

Top Ten Holdings

Top Equity Issuers

As of 09/30/2025 Updated Monthly

		Fund
	Casey's General Stores Inc	3.18%
	Teledyne Technologies Inc	3.11%
	Clean Harbors Inc	2.81%
	API Group Corp	2.69%
	EQT Corp	2.68%
	Chewy Inc	2.62%
	Resideo Technologies Inc	2.62%
	PPL Corp	2.61%
	Performance Food Group Co	2.60%
	AppLovin Corp	2.46%

Distributions & Tax

Distribution Schedules

Dividend Frequency, if any

This fund is an ex-Dividend fund

Annually

Capital Gain Distributions

December

Proposed 2025 distribution dates for some Franklin Templeton Specialist Investment Managers (excluding ETFs).

Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.

Distributions Per Share

Current Year Distributions Per Share

Distribution amounts may be estimates

Record Date	Ex-Dividend Date	Reinvestment Date	Payable Date	Reinvestment Price	Long-Term Capital Gains	Short-Term Capital Gains	Income	Total Distribution Per Share
06/10/2025	06/11/2025	06/11/2025	06/11/2025	$23.55	$0.60503	$0.33908	—	$0.94411

Record Date

06/10/2025

Ex-Dividend Date

06/11/2025

Reinvestment Date

06/11/2025

Payable Date

06/11/2025

Reinvestment Price

$23.55

Long-Term Capital Gains

$0.60503

Short-Term Capital Gains

$0.33908

Income

—

Total Distribution Per Share

$0.94411

View Historical Distributions Data

Historical Distributions Per Share

Record Date	Ex-Dividend Date	Reinvestment Date	Payable Date	Reinvestment Price	Long-Term Capital Gains	Short-Term Capital Gains	Income	Total Distribution Per Share
12/05/2024	12/06/2024	12/06/2024	12/06/2024	$26.04	$0.46971	—	$0.116677	$0.586387
06/10/2024	06/11/2024	06/11/2024	06/11/2024	$22.72	$0.08086	—	$0.031381	$0.112241
12/07/2023	12/08/2023	12/08/2023	12/08/2023	$21.55	—	—	$0.023326	$0.023326
06/12/2023	06/13/2023	06/13/2023	06/13/2023	$21.19	$0.13032	—	$0.004528	$0.134848
12/08/2022	12/09/2022	12/09/2022	12/09/2022	$20.51	$0.76234	—	$0.080025	$0.842365
06/15/2022	06/16/2022	06/16/2022	06/16/2022	$20.23	$0.55165	$0.1111	—	$0.66275
12/10/2021	12/10/2021	—	12/10/2021	$28.70	$2.26324	$0.45061	—	$2.71385
06/16/2021	06/17/2021	06/17/2021	06/17/2021	$28.57	$0.7872	—	$0.008074	$0.795274
12/10/2020	12/11/2020	12/11/2020	12/11/2020	$24.65	—	—	$0.060447	$0.060447
06/18/2020	06/18/2020	—	06/18/2020	$19.67	$0.24567	$0.05069	—	$0.29636
12/12/2019	12/13/2019	12/13/2019	12/13/2019	$22.09	$0.1022	$0.04984	$0.12574	$0.27778
06/20/2019	06/20/2019	—	06/20/2019	$20.97	$0.0571	—	—	$0.0571
12/13/2018	12/14/2018	12/14/2018	12/14/2018	$18.01	$0.29407	—	$0.100935	$0.395005
06/21/2018	06/21/2018	—	06/21/2018	$20.49	$0.06834	—	—	$0.06834
12/14/2017	12/15/2017	12/15/2017	12/15/2017	$20.01	$0.85953	$0.28475	$0.089189	$1.233469
06/13/2017	06/13/2017	—	06/13/2017	$20.32	$0.03163	—	—	$0.03163
12/16/2016	12/19/2016	12/19/2016	12/19/2016	$19.24	$0.2716	—	$0.087573	$0.359173
06/07/2016	06/08/2016	06/08/2016	06/08/2016	$17.83	$0.17454	—	$0.069795	$0.244335
12/17/2015	12/17/2015	—	12/17/2015	$17.92	$1.13489	—	—	$1.13489
06/23/2015	06/24/2015	06/24/2015	06/24/2015	$20.18	—	—	$0.011817	$0.011817
12/17/2014	12/18/2014	12/18/2014	12/18/2014	$18.63	$1.26116	$0.11598	$0.055915	$1.433055
06/12/2014	06/12/2014	—	06/12/2014	$19.36	$0.05036	$0.00519	—	$0.05555
12/17/2013	12/18/2013	12/18/2013	12/18/2013	$18.29	$1.25106	$0.06599	$0.013925	$1.330975
06/17/2013	06/18/2013	06/18/2013	06/18/2013	$17.09	—	—	$0.009721	$0.009721
12/19/2012	12/20/2012	12/20/2012	12/20/2012	$14.78	$0.27703	—	$0.12769	$0.40472
12/21/2009	12/22/2009	12/22/2009	12/22/2009	$10.80	—	—	$0.044042	$0.044042
12/18/2008	12/19/2008	12/19/2008	12/19/2008	$7.76	—	—	$0.02296	$0.02296
12/20/2007	12/21/2007	12/21/2007	12/21/2007	$12.51	$2.01604	$0.92503	$0.06393	$3.005
12/26/2006	12/27/2006	12/27/2006	12/27/2006	$14.44	$1.30578	$0.68769	$0.087321	$2.080791
12/28/2005	12/29/2005	12/29/2005	12/29/2005	$14.34	$1.11995	—	$0.093036	$1.212986
10/28/2002	10/29/2002	10/29/2002	10/29/2002	$9.96	—	—	$0.0104	$0.0104
12/26/2000	12/27/2000	12/27/2000	12/28/2000	$13.66	—	—	$0.0507	$0.0507
12/28/1999	12/29/1999	12/29/1999	12/30/1999	$11.52	—	—	$0.0126	$0.0126

Record Date

12/05/2024

Ex-Dividend Date

12/06/2024

Reinvestment Date

12/06/2024

Payable Date

12/06/2024

Reinvestment Price

$26.04

Long-Term Capital Gains

$0.46971

Short-Term Capital Gains

—

Income

$0.116677

Total Distribution Per Share

$0.586387

Record Date

06/10/2024

Ex-Dividend Date

06/11/2024

Reinvestment Date

06/11/2024

Payable Date

06/11/2024

Reinvestment Price

$22.72

Long-Term Capital Gains

$0.08086

Short-Term Capital Gains

—

Income

$0.031381

Total Distribution Per Share

$0.112241

Record Date

12/07/2023

Ex-Dividend Date

12/08/2023

Reinvestment Date

12/08/2023

Payable Date

12/08/2023

Reinvestment Price

$21.55

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.023326

Total Distribution Per Share

$0.023326

Record Date

06/12/2023

Ex-Dividend Date

06/13/2023

Reinvestment Date

06/13/2023

Payable Date

06/13/2023

Reinvestment Price

$21.19

Long-Term Capital Gains

$0.13032

Short-Term Capital Gains

—

Income

$0.004528

Total Distribution Per Share

$0.134848

Record Date

12/08/2022

Ex-Dividend Date

12/09/2022

Reinvestment Date

12/09/2022

Payable Date

12/09/2022

Reinvestment Price

$20.51

Long-Term Capital Gains

$0.76234

Short-Term Capital Gains

—

Income

$0.080025

Total Distribution Per Share

$0.842365

Record Date

06/15/2022

Ex-Dividend Date

06/16/2022

Reinvestment Date

06/16/2022

Payable Date

06/16/2022

Reinvestment Price

$20.23

Long-Term Capital Gains

$0.55165

Short-Term Capital Gains

$0.1111

Income

—

Total Distribution Per Share

$0.66275

Record Date

12/10/2021

Ex-Dividend Date

12/10/2021

Reinvestment Date

—

Payable Date

12/10/2021

Reinvestment Price

$28.70

Long-Term Capital Gains

$2.26324

Short-Term Capital Gains

$0.45061

Income

—

Total Distribution Per Share

$2.71385

Record Date

06/16/2021

Ex-Dividend Date

06/17/2021

Reinvestment Date

06/17/2021

Payable Date

06/17/2021

Reinvestment Price

$28.57

Long-Term Capital Gains

$0.7872

Short-Term Capital Gains

—

Income

$0.008074

Total Distribution Per Share

$0.795274

Record Date

12/10/2020

Ex-Dividend Date

12/11/2020

Reinvestment Date

12/11/2020

Payable Date

12/11/2020

Reinvestment Price

$24.65

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.060447

Total Distribution Per Share

$0.060447

Record Date

06/18/2020

Ex-Dividend Date

06/18/2020

Reinvestment Date

—

Payable Date

06/18/2020

Reinvestment Price

$19.67

Long-Term Capital Gains

$0.24567

Short-Term Capital Gains

$0.05069

Income

—

Total Distribution Per Share

$0.29636

Record Date

12/12/2019

Ex-Dividend Date

12/13/2019

Reinvestment Date

12/13/2019

Payable Date

12/13/2019

Reinvestment Price

$22.09

Long-Term Capital Gains

$0.1022

Short-Term Capital Gains

$0.04984

Income

$0.12574

Total Distribution Per Share

$0.27778

Record Date

06/20/2019

Ex-Dividend Date

06/20/2019

Reinvestment Date

—

Payable Date

06/20/2019

Reinvestment Price

$20.97

Long-Term Capital Gains

$0.0571

Short-Term Capital Gains

—

Income

—

Total Distribution Per Share

$0.0571

Record Date

12/13/2018

Ex-Dividend Date

12/14/2018

Reinvestment Date

12/14/2018

Payable Date

12/14/2018

Reinvestment Price

$18.01

Long-Term Capital Gains

$0.29407

Short-Term Capital Gains

—

Income

$0.100935

Total Distribution Per Share

$0.395005

Record Date

06/21/2018

Ex-Dividend Date

06/21/2018

Reinvestment Date

—

Payable Date

06/21/2018

Reinvestment Price

$20.49

Long-Term Capital Gains

$0.06834

Short-Term Capital Gains

—

Income

—

Total Distribution Per Share

$0.06834

Record Date

12/14/2017

Ex-Dividend Date

12/15/2017

Reinvestment Date

12/15/2017

Payable Date

12/15/2017

Reinvestment Price

$20.01

Long-Term Capital Gains

$0.85953

Short-Term Capital Gains

$0.28475

Income

$0.089189

Total Distribution Per Share

$1.233469

Record Date

06/13/2017

Ex-Dividend Date

06/13/2017

Reinvestment Date

—

Payable Date

06/13/2017

Reinvestment Price

$20.32

Long-Term Capital Gains

$0.03163

Short-Term Capital Gains

—

Income

—

Total Distribution Per Share

$0.03163

Record Date

12/16/2016

Ex-Dividend Date

12/19/2016

Reinvestment Date

12/19/2016

Payable Date

12/19/2016

Reinvestment Price

$19.24

Long-Term Capital Gains

$0.2716

Short-Term Capital Gains

—

Income

$0.087573

Total Distribution Per Share

$0.359173

Record Date

06/07/2016

Ex-Dividend Date

06/08/2016

Reinvestment Date

06/08/2016

Payable Date

06/08/2016

Reinvestment Price

$17.83

Long-Term Capital Gains

$0.17454

Short-Term Capital Gains

—

Income

$0.069795

Total Distribution Per Share

$0.244335

Record Date

12/17/2015

Ex-Dividend Date

12/17/2015

Reinvestment Date

—

Payable Date

12/17/2015

Reinvestment Price

$17.92

Long-Term Capital Gains

$1.13489

Short-Term Capital Gains

—

Income

—

Total Distribution Per Share

$1.13489

Record Date

06/23/2015

Ex-Dividend Date

06/24/2015

Reinvestment Date

06/24/2015

Payable Date

06/24/2015

Reinvestment Price

$20.18

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.011817

Total Distribution Per Share

$0.011817

Record Date

12/17/2014

Ex-Dividend Date

12/18/2014

Reinvestment Date

12/18/2014

Payable Date

12/18/2014

Reinvestment Price

$18.63

Long-Term Capital Gains

$1.26116

Short-Term Capital Gains

$0.11598

Income

$0.055915

Total Distribution Per Share

$1.433055

Record Date

06/12/2014

Ex-Dividend Date

06/12/2014

Reinvestment Date

—

Payable Date

06/12/2014

Reinvestment Price

$19.36

Long-Term Capital Gains

$0.05036

Short-Term Capital Gains

$0.00519

Income

—

Total Distribution Per Share

$0.05555

Record Date

12/17/2013

Ex-Dividend Date

12/18/2013

Reinvestment Date

12/18/2013

Payable Date

12/18/2013

Reinvestment Price

$18.29

Long-Term Capital Gains

$1.25106

Short-Term Capital Gains

$0.06599

Income

$0.013925

Total Distribution Per Share

$1.330975

Record Date

06/17/2013

Ex-Dividend Date

06/18/2013

Reinvestment Date

06/18/2013

Payable Date

06/18/2013

Reinvestment Price

$17.09

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.009721

Total Distribution Per Share

$0.009721

Record Date

12/19/2012

Ex-Dividend Date

12/20/2012

Reinvestment Date

12/20/2012

Payable Date

12/20/2012

Reinvestment Price

$14.78

Long-Term Capital Gains

$0.27703

Short-Term Capital Gains

—

Income

$0.12769

Total Distribution Per Share

$0.40472

Record Date

12/21/2009

Ex-Dividend Date

12/22/2009

Reinvestment Date

12/22/2009

Payable Date

12/22/2009

Reinvestment Price

$10.80

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.044042

Total Distribution Per Share

$0.044042

Record Date

12/18/2008

Ex-Dividend Date

12/19/2008

Reinvestment Date

12/19/2008

Payable Date

12/19/2008

Reinvestment Price

$7.76

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.02296

Total Distribution Per Share

$0.02296

Record Date

12/20/2007

Ex-Dividend Date

12/21/2007

Reinvestment Date

12/21/2007

Payable Date

12/21/2007

Reinvestment Price

$12.51

Long-Term Capital Gains

$2.01604

Short-Term Capital Gains

$0.92503

Income

$0.06393

Total Distribution Per Share

$3.005

Record Date

12/26/2006

Ex-Dividend Date

12/27/2006

Reinvestment Date

12/27/2006

Payable Date

12/27/2006

Reinvestment Price

$14.44

Long-Term Capital Gains

$1.30578

Short-Term Capital Gains

$0.68769

Income

$0.087321

Total Distribution Per Share

$2.080791

Record Date

12/28/2005

Ex-Dividend Date

12/29/2005

Reinvestment Date

12/29/2005

Payable Date

12/29/2005

Reinvestment Price

$14.34

Long-Term Capital Gains

$1.11995

Short-Term Capital Gains

—

Income

$0.093036

Total Distribution Per Share

$1.212986

Record Date

10/28/2002

Ex-Dividend Date

10/29/2002

Reinvestment Date

10/29/2002

Payable Date

10/29/2002

Reinvestment Price

$9.96

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.0104

Total Distribution Per Share

$0.0104

Record Date

12/26/2000

Ex-Dividend Date

12/27/2000

Reinvestment Date

12/27/2000

Payable Date

12/28/2000

Reinvestment Price

$13.66

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.0507

Total Distribution Per Share

$0.0507

Record Date

12/28/1999

Ex-Dividend Date

12/29/1999

Reinvestment Date

12/29/1999

Payable Date

12/30/1999

Reinvestment Price

$11.52

Long-Term Capital Gains

—

Short-Term Capital Gains

—

Income

$0.0126

Total Distribution Per Share

$0.0126

Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.

The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.

Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.

Pricing

Pricing History Chart

As of 11/04/2025 Updated Daily

From

[common.date-picker-calendar-heading]

Daily Fund Prices

As of 11/04/2025

Share Prices

As of 11/04/2025

NAV

(Net Asset Value)

$24.08

NAV Change

$-0.22

NAV Change (%)

-0.91%

52-Week Range

Highest NAV

$26.73

Lowest NAV

$19.97

View Historical Pricing

Historical Data - Daily Fund Prices

From

[common.date-picker-calendar-heading]

NAV

As of 11/04/2025

$24.08 (USD)

Highest NAV

As of 10/06/2025

$25.40 (USD)

Lowest NAV

As of 11/04/2025

$24.08 (USD)

Historical Pricing Results From 10/06/2025 To 11/04/2025

Date	NAV	NAV Change	NAV Change (%)
11/04/2025	$24.08	$-0.22	-0.91%
11/03/2025	$24.30	$-0.12	-0.49%
10/31/2025	$24.42	$0.06	0.25%
10/30/2025	$24.36	$-0.22	-0.90%
10/29/2025	$24.58	$-0.36	-1.44%
10/28/2025	$24.94	$-0.35	-1.38%
10/27/2025	$25.29	$0.07	0.28%
10/24/2025	$25.22	$0.04	0.16%
10/23/2025	$25.18	$0.17	0.68%
10/22/2025	$25.01	$-0.25	-0.99%
10/21/2025	$25.26	$0.07	0.28%
10/20/2025	$25.19	$0.28	1.12%
10/17/2025	$24.91	$0.01	0.04%
10/16/2025	$24.90	$-0.24	-0.95%
10/15/2025	$25.14	$0.05	0.20%
10/14/2025	$25.09	$0.18	0.72%
10/13/2025	$24.91	$0.33	1.34%
10/10/2025	$24.58	$-0.57	-2.27%
10/09/2025	$25.15	$-0.15	-0.59%
10/08/2025	$25.30	$0.14	0.56%
10/07/2025	$25.16	$-0.24	-0.94%
10/06/2025	$25.40	$-0.16	-0.63%

Date

11/04/2025

NAV

$24.08

NAV Change

$-0.22

NAV Change (%)

-0.91%

Date

11/03/2025

NAV

$24.30

NAV Change

$-0.12

NAV Change (%)

-0.49%

Date

10/31/2025

NAV

$24.42

NAV Change

$0.06

NAV Change (%)

0.25%

Date

10/30/2025

NAV

$24.36

NAV Change

$-0.22

NAV Change (%)

-0.90%

Date

10/29/2025

NAV

$24.58

NAV Change

$-0.36

NAV Change (%)

-1.44%

Date

10/28/2025

NAV

$24.94

NAV Change

$-0.35

NAV Change (%)

-1.38%

Date

10/27/2025

NAV

$25.29

NAV Change

$0.07

NAV Change (%)

0.28%

Date

10/24/2025

NAV

$25.22

NAV Change

$0.04

NAV Change (%)

0.16%

Date

10/23/2025

NAV

$25.18

NAV Change

$0.17

NAV Change (%)

0.68%

Date

10/22/2025

NAV

$25.01

NAV Change

$-0.25

NAV Change (%)

-0.99%

Date

10/21/2025

NAV

$25.26

NAV Change

$0.07

NAV Change (%)

0.28%

Date

10/20/2025

NAV

$25.19

NAV Change

$0.28

NAV Change (%)

1.12%

Date

10/17/2025

NAV

$24.91

NAV Change

$0.01

NAV Change (%)

0.04%

Date

10/16/2025

NAV

$24.90

NAV Change

$-0.24

NAV Change (%)

-0.95%

Date

10/15/2025

NAV

$25.14

NAV Change

$0.05

NAV Change (%)

0.20%

Date

10/14/2025

NAV

$25.09

NAV Change

$0.18

NAV Change (%)

0.72%

Date

10/13/2025

NAV

$24.91

NAV Change

$0.33

NAV Change (%)

1.34%

Date

10/10/2025

NAV

$24.58

NAV Change

$-0.57

NAV Change (%)

-2.27%

Date

10/09/2025

NAV

$25.15

NAV Change

$-0.15

NAV Change (%)

-0.59%

Date

10/08/2025

NAV

$25.30

NAV Change

$0.14

NAV Change (%)

0.56%

Date

10/07/2025

NAV

$25.16

NAV Change

$-0.24

NAV Change (%)

-0.94%

Date

10/06/2025

NAV

$25.40

NAV Change

$-0.16

NAV Change (%)

-0.63%

Documents

Regulatory Documents

 PDF Format 
 Prospectus 
Public
 PDF Format 
 Summary Prospectus 
Public
 PDF Format 
 Annual Financial Statements And Other Information 
Public
 PDF Format 
 Annual Report 
Public
 PDF Format 
 Statement Of Additional Information 
Public
 PDF Format 
 Semi-Annual Financial Statements And Other Information 
Public
 PDF Format 
 Semi-Annual Report 
Public

View Proxy Voting Records and Proxy Voting Policies

Risks

What Are the Risks?

All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Short selling is a speculative strategy. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.

Important Information

Past performance is no guarantee of future results. These portfolios are available as investment options under a variable annuity or variable life contract. Shares of the portfolios are offered only to insurance company separate accounts that fund certain variable annuity or life contracts. These portfolios may not be available in all states and may only be offered in certain variable products. Please refer to the prospectuses. Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals made prior to age 59 1/2 are subject to a 10% IRS penalty charge and/or surrender charges. Investments in a variable annuity are subject to market risks, including loss of principal. Guarantees are based on the claims-paying ability of the insurer.

VARIABLE ANNUITIES ARE SOLD BY PROSPECTUS ONLY. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO CAREFULLY BEFORE INVESTING. THE PROSPECTUSES CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO. FOR A FREE PROSPECTUS ON THE UNDERLYING PORTFOLIO, PLEASE CLICK ON THE PROSPECTUS LINK. AN INVESTOR SHOULD READ THE PROSPECTUSES CAREFULLY BEFORE INVESTING.

You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.

Important data provider notices and terms available at www.franklintempletondatasources.com.

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.

The Russell Mid Cap Index measures the performance of the mid-cap segment of the U.S. equity universe.
Source: FTSE.

Franklin Distributors, LLC. Member FINRA/SIPC. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the fund are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call Franklin Templeton at (800) 530-2432 for more information.

Footnotes

Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.

Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday

Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday

Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday

Sunday	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday

Current Historical
			Large	Size
			Medium
			Small
Value	Blend	Growth
Style

52467X708

ClearBridge Variable Mid Cap Portfolio

NAV 1

Overall Morningstar Rating

Morningstar Style Box

Historical Morningstar Ratings

Overview

Fund Description

Meet Your Manager

ClearBridge Investments

Fund Information

Sales Charges, Expenses & Fees

Identifiers

Portfolio Managers

Brian Angerame

Matthew Lilling, CFA®

Performance

Average Annual Total Returns

Average Annual Total Returns

Calendar Year Returns

Calendar Year Returns

Cumulative Total Returns

Cumulative Total Returns

Historical Cumulative Total Returns

Risk Measures

Risk Measures

Portfolio

Assets

Positions

Portfolio Allocations

Sector Allocation

Portfolio Holdings

Holdings

Holdings

Top Ten Holdings

Top Equity Issuers

Distributions & Tax

Distribution Schedules

Distributions Per Share

Current Year Distributions Per Share

Historical Distributions Per Share

Pricing

Pricing History Chart

Daily Fund Prices

Share Prices

52-Week Range

Historical Data - Daily Fund Prices

Documents

Regulatory Documents

Regulatory Documents

Risks

What Are the Risks?

Important Information

Footnotes

NAV ¹