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Managed Fund Since 2010
Equity
LMNVX ClearBridge Value Fund
- Focus on long-term capital growth. The strategy primarily invests in equity securities with a focus on long-term capital growth.
- Deep company research. A research process centered on valuation, high active share and a long-term investment horizon.
- Seeks undervalued companies with strong financial metrics. The strategy invests in companies that can sustain high financial metrics, or improve depressed financial metrics, over a reasonable investment horizon.
Popular Documents
Total Net Assets
$3.89B
As of 10/31/2025 (Updated Monthly)
Overview
Fund Facts
Fund description
Invests in equity securities with a focus on long-term capital growth. Employs a research process centered on valuation, high active share, and a long-term investment horizon. Seeks companies that can sustain high financial metrics, or improve depressed financial metrics, over a reasonable investment horizon.
- Benchmark
- Russell 1000 Value Index
- Fund Inception Date
- 04/16/1982
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 54%
Identifiers
- Ticker
- LMNVX
- Fund Number
- 7347
- CUSIP Code
- 524686573
Average Annual Total Returns As of 10/31/2025
Class I
- 6.86%1 Year
- 14.94%3 Years
- 17.46%5 Years
- 11.11%10 Years
- 10.63%Since Inception
12/01/1994
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 10/31/2025 Equity as a % of Total (Updated Monthly)
Additional Fund Info
- Share Class Inception Date
- 12/01/1994
- Investment Style
- Value
- Lipper Classification
- Multi-Cap Value Funds
- Morningstar Category
- Large Value
Manager and Commentary
About the Team
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.
Commentary Highlights
September 30, 2025- Markets: U.S. stocks kept their momentum going in the third quarter, with the S&P 500 Index and tech-heavy Nasdaq Composite setting fresh records. Confidence improved as tariffs landed better than feared, Congress passed the One Big Beautiful Bill Act in July, and the Federal Reserve delivered a 25 bps cut in September while signaling more to come. Strong earnings from mega caps in communication services, information technology (IT) and consumer discretionary sectors added fuel to the rally.
- Contributors: Holdings in Newmont, UCB and Talen Energy. Stock selection in health care and IT sectors, underweight to consumer staples.
- Detractors: Holdings in Charter Communications, Novo Nordisk and Corebridge Financial. Stock selection in the financials, communication services and materials sectors.
- Outlook: The U.S. economy and market are increasingly being led by investment rather than consumption — a structural shift that we believe will persist for many years, albeit with high levels of volatility. Consistent with this framing, we remain very underweight consumption-driven areas, especially the consumer discretionary sector
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Managed Fund Since 2015
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Managed Fund Since 2023
Latest ClearBridge Insights
November 3, 2025
October 20, 2025
October 10, 2025
September 18, 2025
Performance
Calendar Year Returns
As of 10/31/2025
Class I - With Sales Charge (POP) (%)
Class I - Without Sales Charge (NAV) (%)
Russell 1000 Value Index (%)
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 3
©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.
Portfolio
Assets
As of10/31/2025 (Updated Monthly)
- Total Net Assets
- $3.89 Billion
Positions
As of 10/31/2025 (Updated Monthly)
Number of Holdings
- Fund
- 70
- Benchmark
- 870
Portfolio Statistics
As of 10/31/2025 (Updated Monthly)
Weighted Average Market Capitalization (USD)
- Fund
- $262.41 Billion
- Benchmark
- $336.85 Billion
- Fund
- 20.08x
- Benchmark
- 20.64x
- Fund
- 3.49x
- Benchmark
- 4.24x
- Fund
- 16.54x
- Benchmark
- 18.41x
- Fund
- $57.77 Billion
- Benchmark
- $117.78 Billion
- Fund
- 54.00%
- Benchmark
- —
Sector Allocation
As of 10/31/2025 Equity as a % of Total (Updated Monthly)
| Sector | % of Total | Benchmark |
|---|---|---|
Financials | 20.77% | 21.89% |
Health Care | 18.93% | 11.92% |
Industrials | 10.78% | 13.24% |
Energy | 10.07% | 5.84% |
Communication Services | 8.58% | 8.15% |
Materials | 7.57% | 3.94% |
Information Technology | 6.60% | 11.36% |
Utilities | 5.36% | 4.62% |
Consumer Discretionary | 4.89% | 7.67% |
Consumer Staples | 3.16% | 7.29% |
Real Estate | 2.11% | 4.08% |
Other | 0.56% | — |
Holdings
As of 10/31/2025 (Updated Monthly)
Bank Of America Corp
Alphabet Inc. Class A
Johnson & Johnson
Amazon.Com, Inc.
Chevron Corp
The Walt Disney Company
EQT Corp.
CVS Health
Micron Technology Inc.
Corebridge Financial Inc
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
For the latest updates on portfolio holdings, if any, please refer to the Documents section below.
Distributions & Tax
- Distribution Frequency
- AnnuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
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
12/10/2025
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
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - ClearBridge Value Fund | |||
| Product Commentary - ClearBridge Value Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - ClearBridge Value Fund - Class I | |||
| Annual Financial Statements and Other Information - ClearBridge Value Fund | |||
| Semi-Annual Report - ClearBridge Value Fund Class I | |||
| Semiannual Financial Statements and Other Information - ClearBridge Value Fund | |||
| Prospectus - ClearBridge Value Fund | |||
| Summary Prospectus - ClearBridge Value Fund | |||
| Statement of Additional Information - Legg Mason Partners Income Trust Book 23 | |||
| Fiscal Q1 Holdings - ClearBridge Value Fund | |||
| Fiscial Q1 Holdings - ClearBridge Value Fund | |||
| Fiscal Q3 Holdings - ClearBridge Value Fund |
Risks
All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. Large-capitalization companies may fall out of favor with investors based on market and economic conditions. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. 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. 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
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
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 1000 Value Index measures the performance of the large-cap value segment of the U.S. equity universe.
Source: FTSE.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.