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Managed Fund Since 2011
Equity
LMASX ClearBridge Small Cap Fund
Popular Documents
NAV
$36.65
As of 06/09/2026
YTD Total Returns At NAV
10.66%
As of 06/09/2026
Total Net Assets
$723.03M
As of 05/31/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
Research process centered on valuation, high active share, and a long-term investment horizon in a multi-disciplinary approach that seeks large price to value gaps that we believe will close over time. Invests primarily in small-capitalization companies, and may invest in companies considered to be “special situations” (i.e. companies undergoing unusual or possibly one-time developments that, in the opinion of the portfolio managers, make them attractive for investment.) Invests in both traditional value and growth securities at discounts to the portfolio managers' assessment of their intrinsic value.
- Benchmark
- Russell 2000 Index
- Fund Inception Date
- 12/30/1985
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 33%
Sales Charges, Expenses & Fees
- Gross Expense Ratio
- 1.89%
- Net Expense Ratio
- 1.85%
- Maximum Initial Charge
- —
- CDSC
- 1.00%
- 12b-1 Fee
- 1.00%
Identifiers
- Ticker
- LMASX
- Fund Number
- 7076
- CUSIP Code
- 524686474
Average Annual Total Returns As of 05/31/2026
Class C
- 26.62%1 Year
- 11.63%3 Years
- 2.40%5 Years
- 7.74%10 Years
- 9.59%Since Inception
12/30/1985
Top Sectors
As of 05/31/2026 % of Total (Updated Monthly)
Financials18.29% | |
Industrials16.61% | |
Health Care13.17% | |
Information Technology12.45% | |
Consumer Discretionary10.44% |
Additional Fund Info
- Share Class Inception Date
- 12/30/1985
- Investment Style
- Blend
- Lipper Classification
- Small-Cap Core Funds
- Morningstar Category
- Small Blend
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
March 31, 2026- Markets: Small cap equities experienced a volatile start to 2026, as strong early gains gave way to shifting leadership and a more uncertain macro backdrop. The Russell 2000 Index returned 0.9% for the quarter, outperforming the larger cap Russell 1000 Index by over 500 bps. A partial rotation away from the dominant AI trade supported value stocks over growth during the quarter, with the Russell 2000 Value Index returning 5.0% compared to a 2.8% loss for the growth index.
- Contributors: Holdings in Matador Resources, International Seaways and Murphy USA. Stock selection in the health care, energy and consumer discretionary sectors.
- Detractors: Holdings in Upwork, nCino and not owning Bloom Energy. Stock selection in the industrials, IT and materials sectors.
- Outlook: While macro uncertainty remains elevated, a shift toward quality and fundamentals may provide a more supportive environment for disciplined small cap investors.
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Managed Fund Since 2015
Latest ClearBridge Insights
June 10, 2026
June 3, 2026
May 27, 2026
Performance
Ratings
Portfolio
Distributions & Tax
Pricing
Daily Fund Prices
Documents
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. The investment style may become out of favor, which may have a negative 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.