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Managed Fund Since 2019
Equity
LCBOX ClearBridge Dividend Strategy Fund
- Access to quality companies. Seeks to invest in high-quality stocks with an attractive or improving dividend profile.
- Emphasis on dividends. Seeks a combination of dividend income, dividend growth and long-term capital appreciation.
- Core portfolio holdings. Focusing on companies that have a long history of paying and raising dividends provides investors an income stream and risk mitigation.
Popular Documents
Total Net Assets
$9.04B
As of 09/30/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
Seeks to invest in high-quality stocks with an attractive or improving dividend profile. Seeks a combination of dividend income, dividend growth and long-term capital appreciation. Uses fundamental analysis to select a diversified portfolio of companies with long histories of paying and raising dividends.
- Benchmark
- S&P 500 Index
- Dividend Frequency, if any
- Quarterly
- Fund Inception Date
- 09/16/1985
Sales Charges, Expenses & Fees
As of 05/01/2026- Gross Expense Ratio
- 0.71%
- Net Expense Ratio
7 - 0.71%
- Maximum Initial Charge
- —
- CDSC
- N/A
- 12b-1 Fee
- 0.00%
Identifiers
- Ticker
- LCBOX
- Fund Number
- 7043
- CUSIP Code
- 52469H115
Average Annual Total Returns As of 09/30/2026
Class 1
- 7.44%1 Year
- 15.45%3 Years
- 10.35%5 Years
- 12.04%10 Years
- 11.46%Since Inception
04/29/2011
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.
Top Sectors
As of 09/30/2026 % of Total (Updated Monthly)
Financials17.26% | |
Information Technology17.22% | |
Industrials11.57% | |
Energy10.24% | |
Communication Services10.22% |
Additional Fund Info
- Share Class Inception Date
- 04/29/2011
- Investment Style
- Large Cap
- Lipper Classification
- Equity Income Funds
- Morningstar Category
8 - Large Value
Manager and Commentary
About the Team
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
September 30, 2026- Markets: During the third quarter, the S&P 500 Index rose 2.3% while shares of the ClearBridge Dividend Strategy increased modestly. The Strategy rose strongly in the first two months of the period, outperforming the index, but retraced those gains in September. AI developments continued to drive the markets, and the information technology (IT) sector was the largest contributor to the S&P 500’s return for the quarter. Superficially, this resembled most recent quarters, with a one-dimensional market dominated by AI. Beneath the surface, however, turbulence increased.
- Contributors: On an individual stock basis, the largest contributors to relative returns were ExxonMobil, Becton Dickinson, Automatic Data Processing and not owning Tesla and Applied Materials. Stock selection in industrials, IT and financials, an overweight to energy and an underweight to consumer discretionary contributed to performance.
- Detractors: The largest detractors were Honeywell Aerospace, Williams and underweights to Apple, Nvidia and Microsoft. Stock selection in energy, health care, materials and consumer discretionary, an underweight to IT and overweights to industrials and real estate weighed on results.
- Outlook: Against a backdrop of rising rates, greater market volatility and intensifying competition around AI, we are maintaining measured exposure to AI leaders while emphasizing diversified, attractively priced companies with strong balance sheets, healthy dividends and predictable revenue streams.
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Managed Fund Since 2009
Latest ClearBridge Insights
October 30, 2026
October 30, 2026
October 1, 2026
September 23, 2026
Performance
Calendar Year Returns
As of 09/30/2026
Class 1 - With Sales Charge (POP) (%)
Class 1 - Without Sales Charge (NAV) (%)
S&P 500 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
©2026 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 of09/30/2026 (Updated Monthly)
- Total Net Assets
- $9.04 Billion
Positions
As of 09/30/2026 (Updated Monthly)
Number of Holdings
- Fund
- 50
- Benchmark
- 503
Portfolio Statistics
As of 09/30/2026 (Updated Monthly)
Price to Earnings (12-Month Forward) 9
- Fund
- 17.61x
- Benchmark
- 21.14x
- Fund
- 22.09x
- Benchmark
- 24.77x
- Fund
- 7.06x
- Benchmark
- 9.20x
- Fund
- 2.10%
- Benchmark
- 1.05%
- Fund
- $131.69 Billion
- Benchmark
- $462.25 Billion
- Fund
- $813.47 Billion
- Benchmark
- $1,603.59 Billion
- Fund
- 30.00%
- Benchmark
- —
Asset Allocation
As of 09/30/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 97.68% |
Cash & Cash Equivalents | 2.32% |
Holdings
As of 09/30/2026 (Updated Monthly)
EXXONMOBIL HOLDINGS CORP
Microsoft Corp
Williams Cos Inc
NVIDIA Corp.
Alphabet Inc. Class A
Apollo Global Management Inc
UNILEVER PLC
Air Products and Chemicals, Inc.
MARSH & MCLENNAN COS
Nestle S.A. Sponsored ADR
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.
Distributions & Tax
- Distribution Frequency
- QuarterlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- June, December
Rates and Yields
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
12/17/2026
09/29/2026
06/29/2026
03/30/2026
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
Portfolio Holdings - ClearBridge Dividend Strategy Fund - 11-04-26
Product Commentary - ClearBridge Dividend Strategy Fund
Regulatory Documents
Annual Report - ClearBridge Dividend Strategy Fund - Class 1
Annual Financial Statements and Other Information - ClearBridge Dividend Strategy Fund
Semi-Annual Report - ClearBridge Dividend Strategy Fund - Class 1
Semi-Annual Financial Statements and Other Information - ClearBridge Dividend Strategy Fund
Prospectus - ClearBridge Dividend Strategy Fund
Summary Prospectus - ClearBridge Dividend Strategy Fund
Statement of Additional Information - ClearBridge Dividend Strategy Fund
Fiscal Q1 Holdings - ClearBridge Dividend Strategy Fund
Fiscal Q3 Holdings - ClearBridge Dividend Strategy Fund
Risks
All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. Real estate investment trusts (REITs) are closely linked to the performance of the real estate markets. REITs are subject to illiquidity, credit and interest rate risks, and risks associated with small- and mid-cap investments. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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. 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. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Dividends may fluctuate and are not guaranteed, and a company may reduce or eliminate its dividend at any time. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. 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
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
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.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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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.
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.
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.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Source: © S&P Dow Jones Indices LLC. All rights reserved.
All Putnam-named funds and Franklin Retirement Advantage, Franklin Dynamic Asset Allocation, and Franklin Multi-Asset Income-named funds and Royce funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.
Prior to May 1, 2015, this Fund had a different investment objective and followed different investment strategies under the name “ClearBridge Equity Income Fund”. Prior to December 7, 2009, the fund had different investment objectives, investment policies and investment strategies under the name “Legg Mason ClearBridge Capital and Income Fund