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Managed Fund Since 2012
Equity
LBFIX ClearBridge Select Fund
Popular Documents
Total Net Assets
$3.66B
As of 10/31/2025 (Updated Monthly)
Overview
Fund Facts
Fund description
Seeks long-term growth of capital as it takes an unconstrained approach to investing with an emphasis on equity securities. Invests primarily in equity and equity-related securities of all market capitalizations; may also invest in non-U.S. markets and make opportunistic investments in fixed-income securities. Uses a bottom-up, benchmark agnostic approach to identify companies with strong growth prospects and/or attractive valuations.
- Benchmark
- Russell 3000 Index
- Fund Inception Date
- 11/30/2012
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 17%
Identifiers
- Ticker
- LBFIX
- Fund Number
- 7082
- CUSIP Code
- 52467P465
Average Annual Total Returns As of 10/31/2025
Class I
- 15.62%1 Year
- 18.29%3 Years
- 9.37%5 Years
- 16.26%10 Years
- 16.89%Since Inception
11/30/2012
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
- 11/30/2012
- 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 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. equities continued their upward momentum, with the benchmark Russell 3000 Index up 8.2% and the Russell 2500 Growth Index, home to many of the small and mid cap companies we target in the Fund, higher by 10.7%. Investor optimism was fueled by better-than-feared tariff outcomes, the passing of the One Big Beautiful Bill Act, a Fed rate cut and robust corporate earnings.
- Contributors: Holdings in Performance Food Group, Reddit, AppLovin and L3Harris Technologies. Stock selection in consumer staples and communication services.
- Detractors: Holdings in MercadoLibre, Shift4 Payments and ServiceNow. Stock selection in consumer discretionary and financials.
- Outlook: The long anticipated broadening of market leadership showed signs of progress in the third quarter with the small cap Russell 2000 Index the best performer, meaningfully ahead of larger cap indexes. In addition, the earnings per share growth of small and mid caps continues to improve.
Latest ClearBridge Insights
November 3, 2025
October 20, 2025
October 10, 2025
September 18, 2025
Performance
Risk Measures
As of 10/31/2025
Class I - Without Sales Charge (NAV)
Measured against: Russell 3000 Index
Statistics
Alpha (%)
Beta
R-Squared
Historical Tracking Error
Information Ratio
Upside Capture Ratio
Downside Capture Ratio
Standard Deviation (%)
Class I
Sharpe Ratio (%)
Class I
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
- $3.66 Billion
Positions
As of 10/31/2025 (Updated Monthly)
Number of Holdings
- Fund
- 89
- Benchmark
- 2,969
Portfolio Statistics
As of 10/31/2025 (Updated Monthly)
Price to Book
- Fund
- 12.76x
- Benchmark
- 5.77x
- Fund
- $854.57 Billion
- Benchmark
- $1,262.63 Billion
- Fund
- 40.62x
- Benchmark
- 26.54x
- Fund
- $54.04 Billion
- Benchmark
- $270.43 Billion
- Fund
- 31.35x
- Benchmark
- 24.37x
Sector Allocation
As of 10/31/2025 Equity as a % of Total (Updated Monthly)
| Sector | % of Total | Benchmark |
|---|---|---|
Information Technology | 38.00% | 33.51% |
Industrials | 15.28% | 9.47% |
Health Care | 11.77% | 9.45% |
Consumer Discretionary | 8.95% | 10.60% |
Consumer Staples | 7.10% | 4.45% |
Financials | 4.89% | 13.31% |
Energy | 3.27% | 2.94% |
Other | 2.78% | — |
Real Estate | 2.41% | 2.25% |
Communication Services | 2.18% | 9.61% |
Materials | 1.01% | 2.07% |
Utilities | 0.32% | 2.34% |
Holdings
As of 10/31/2025 (Updated Monthly)
NVIDIA Corp.
Microsoft Corp
Apple Inc.
MercadoLibre Inc.
ServiceNow Inc
Shopify Inc.
AppLovin Corp
Performance Food Group Co.
Casey's General Stores, Inc.
L3Harris Technologies 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.
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 Select Fund | |||
| Product Commentary - ClearBridge Select Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - ClearBridge Select Fund - Class I | |||
| Annual Financial Statements and Other Information - ClearBridge Select Fund | |||
| Semi-Annual Report - ClearBridge Select Fund Class I | |||
| Semiannual Financial Statements and Other Information - ClearBridge Select Fund | |||
| Prospectus - ClearBridge Select Fund | |||
| Summary Prospectus - ClearBridge Select Fund | |||
| Statement of Additional Information - Legg Mason Partners Investment Trust Book 24 | |||
| Fiscal Q1 Holdings - ClearBridge Select Fund | |||
| Fiscal Q3 Holdings - ClearBridge Select 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. 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. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. The portfolio is non-diversified and may invest in a relatively small number of issuers, which may negatively impact the fund's performance and result in greater fluctuation in the value of the fund's shares. 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 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization.
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.