Equity

SHRAX ClearBridge Growth Fund

Overview

Fund Facts

Fund description

Seeks to invest in companies across capitalizations with high growth potential. Patient management seeks capital appreciation from a high-conviction portfolio of companies with new or innovative technologies, products and services. Bottom-up stock selection favors strong fundamentals, committed management and a clear market advantage.

Benchmark: Russell Midcap Growth Index
Fund Inception Date: 10/24/1983
Dividend Frequency, if any: Annually
Portfolio Turnover: 26%

Sales Charges, Expenses & Fees

As of 01/01/2026

Gross Expense Ratio: 1.13%
Net Expense Ratio: 1.13%
Maximum Initial Charge: 5.50%
CDSC: 1.00%
12b-1 Fee: 0.25%

Identifiers

Ticker: SHRAX
Fund Number: 7009
CUSIP Code: 52468C109

Top Sectors

View portfolio section for additional info

As of 05/31/2026 Equity as a % of Total (Updated Monthly)

Top Sectors
Information Technology25.65%
Industrials23.66%
Consumer Discretionary15.49%
Health Care10.85%
Communication Services10.32%

Additional Fund Info

Share Class Inception Date: 10/24/1983
Investment Style: Growth
Lipper Classification: Multi-Cap Growth Funds
Morningstar Category: Mid-Cap Growth

Manager and Commentary

About the Team

ClearBridge Investments

ClearBridge Investments is an active equity manager offering a broad range of strategies across global developed and emerging markets, local markets, and income. ClearBridge manages diversified, high-conviction portfolios through collaborative fundamental research to meet the needs of some of the world's largest asset owners and financial intermediary platforms. We invest as long-term, risk-aware business owners and seek to deliver consistency of process and performance for our clients through market cycles. A focus on durability drives everything we do; from the business models of the companies we own, to the holding periods of our portfolios, to the stability and longevity of our investment professionals.

Commentary Highlights

March 31, 2026

Markets: Surging volatility pressured U.S. equities to start 2026, as rapidly evolving macro conditions and the outbreak of a military conflict in the Middle East contributed to sharp shifts in investor sentiment. A broad-based sell off among more liquid, larger cap holdings put pressure on the Russell 3000 Growth Index, which declined 9.5% for the quarter, while small and mid cap growth categories held up relatively better, with the Russell Midcap Growth and Russell 2000 Growth indexes declining 6.3% and 2.8%, respectively.
Contributors : Holdings in L3Harris Technologies, Madison Square Garden Sports and Vertiv. Stock selection in communication services, consumer discretionary and industrials sectors.
Detractors : Holdings in AppLovin, not owning Comfort Systems USA and Quanta Services. Stock selection and an overweight to IT and a lack of exposure to energy.
Outlook: Our outlook remains consistent: while macro uncertainty and volatility are likely to persist and may even increase as geopolitical developments evolve, these environments often create the most attractive opportunities for active, bottom-up investors. We continue to emphasize balance — owning companies with both offensive growth potential and defensive characteristics, including strong balance sheets, durable cash flows and capable management teams. This approach is designed to support performance across a wide range of market environments, rather than relying on a single factor or theme.