ClearBridge Investments Mid Cap Strategy’s Q1 2024 Investor Letter

ClearBridge Investments, an investment management firm, released its first-quarter 2024 “Mid Cap Strategy” investor letter. Large-cap AI beneficiaries led markets in the first quarter, with the Russell 1000 Index returning 10.30%. Meanwhile, midcaps saw a boost from a wider market, with the Russell Midcap Index gaining 8.60%. The Strategy underperformed its Russell Midcap Index benchmark in the first quarter. The strategy gained across nine of the 11 sectors in which it was invested, on an absolute basis. Industrials and financials sectors were the leading contributors while consumer discretionary and IT sectors detracted. Overall stock selection and sector allocation effects detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of ClearBridge Investments Mid Cap Strategy’s Q1 2024 investor letter can be downloaded here.