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Murphy USA (MUSA) Rose Due to Strong Performance

ClearBridge Investments, an investment management company, released its “ClearBridge All Cap Value Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. The strategy outperformed its benchmark, the Russell 3000 Value Index in the second quarter, due to strong stock selection in the IT and consumer discretionary sectors, which overcame weakness in consumer staples stocks. Despite significant market growth, the market's breadth is dismal as the demand for AI businesses is starving the rest of the industry and raising concerns about how and when...