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Managed Fund Since 2007
Equity
LMOIX ClearBridge Small Cap Growth Fund
Popular Documents
Total Net Assets
$2.07B
As of 01/31/2026 (Updated Monthly)
Fund reopened to new investors
Overview
Fund Facts
Fund description
Invests primarily in growth-oriented small cap U.S. companies. Seeks long-term capital growth using a bottom-up investment process and a team of sector analysts. Emphasizes companies believed to have strong management teams, good multi-year growth prospects, growing demand, dominant positions and strong or improving financial profiles.
- Benchmark
- Russell 2000 Growth Index
- Fund Inception Date
- 07/01/1998
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 20%
Identifiers
- Ticker
- LMOIX
- Fund Number
- 7978
- CUSIP Code
- 52470H666
Average Annual Total Returns As of 12/31/2025
Class IS
- 9.69%1 Year
- 7.74%3 Years
- 0.08%5 Years
- 9.75%10 Years
- 9.78%Since Inception
08/04/2008
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 01/31/2026 Equity as a % of Total (Updated Monthly)
Industrials27.88% | |
Health Care21.09% | |
Information Technology18.99% | |
Financials9.74% | |
Consumer Discretionary6.80% |
Additional Fund Info
- Share Class Inception Date
- 08/04/2008
- Investment Style
- Growth
- Lipper Classification
- Small-Cap Growth Funds
- Morningstar Category
6 - Small 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
12/31/2025- Markets: While our benchmark Russell 2000 Growth Index lagged the Russell 1000 Growth Index by roughly 555 basis points for the full year, it keep pace in the fourth quarter, returning 1.2% versus the Russell 1000 Growth Index’s 1.1%. Importantly, the third quarter marked the first time in over a decade that small caps exceeded large caps in earnings growth, reinforcing our view that the earnings backdrop for the asset class is improving even if market prices have yet to fully reflect this shift. With small cap earnings growth forecasted to handily exceed large caps in 2026, and healthy capital markets from both an IPO and M&A perspective, we are constructive on the trajectory for small cap growth stocks.
- Contributors: Holdings in Penumbra, Insmed and Bloom Energy. Stock selection in industrials, consumer discretionary and energy.
- Detractors: Holdings in Wix.com, Varonis Systems and Trex. Stock selection in health care, information technology (IT) and consumer staples.
- Outlook: While we acknowledge that the past year represents one of the most challenging stretches for active management on record, history suggests that such periods of extreme factor dislocation and prolonged underperformance often set the stage for improved forward returns. With small cap earnings growth set to eclipse large cap peers, and relative valuations still at attractive levels, we believe the asset class is poised for stronger performance.
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Managed Fund Since 2023
Latest ClearBridge Insights
February 5, 2026
January 15, 2026
January 15, 2026
January 14, 2026
Performance
Average Annual Total Returns
As of 12/31/2025
Selected Month December 2025
Class IS - With Sales Charge (POP) (%)
Month End
As of 12/31/2025
Class IS - Without Sales Charge (NAV) (%)
Month End
As of 12/31/2025
Russell 2000 Growth Index (%)
Month End
As of 12/31/2025
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 of01/31/2026 (Updated Monthly)
- Total Net Assets
- $2.07 Billion
Positions
As of 01/31/2026 (Updated Monthly)
Number of Holdings
- Fund
- 84
- Benchmark
- 1,105
Portfolio Statistics
As of 01/31/2026 (Updated Monthly)
Median Market Cap (USD)
- Fund
- $7.04 Billion
- Benchmark
- $4.45 Billion
- Fund
- 20.00%
- Benchmark
- —
- Fund
- 6.42x
- Benchmark
- 5.30x
- Fund
- 9.46x
- Benchmark
- 12.31x
- Fund
- 29.04x
- Benchmark
- 21.88x
- Fund
- $10.94 Billion
- Benchmark
- $6.13 Billion
Asset Allocation
As of 01/31/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 99.73% |
Bond | 0.11% |
Cash | 0.16% |
Holdings
As of 12/31/2025 (Updated Monthly)
RBC Bearings Incorporated
Bloom Energy Corp
Lattice Semiconductor Corp.
Penumbra Inc.
Fabrinet
BWX Technologies Inc
XPO Logistics Inc.
Casey's General Stores, Inc.
MIRUM PHARMACEUTICALS INC
PJT Partners 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 Small Cap Growth Fund | |||
| Product Commentary - ClearBridge Small Cap Growth Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - ClearBridge Small Cap Growth Fund - Class IS | |||
| Annual Financial Statements and Other Information - ClearBridge Small Cap Growth Fund | |||
| Semi-Annual Report - ClearBridge Small Cap Growth Fund Class IS | |||
| Semiannual Financial Statements and Other Information - ClearBridge Small Cap Growth Fund | |||
| Prospectus - ClearBridge Small Cap Growth Fund | |||
| Summary Prospectus - ClearBridge Small Cap Growth Fund | |||
| Statement of Additional Information - Legg Mason Partners Investment Trust Book 24 | |||
| Fiscal Q1 Holdings - ClearBridge Small Cap Growth Fund | |||
| Fiscal Q3 Holdings - ClearBridge Small Cap Growth Fund |
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 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.
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.
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.
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 Russell 2000 Growth Index measures the performance of the small-cap growth segment of the U.S. equity universe.
Source: FTSE.