Clearbridge Investments
Clearbridge Global Growth Strategy
Global Growth
Mar 2025 → Dec 2025
Our archive holds 2 letters from this strategy, behind 1 investment thesis and positions in 37 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year · follow all of Clearbridge Investments for every strategy.
What it bought and sold
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
We exited the position, driven less by these incremental investments and more by our concern around increasingly difficult growth comparisons in 2026.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
The largest was EssilorLuxottica, an Italian-French maker of sunglasses and corrective lenses; we expect its digital glasses partnership with Meta Platforms to be bigger than the market is discounting.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
Trane Technologies was among the portfolio’s larger sales.
Swiss biopharmaceutical and diagnostics company Roche reported positive Phase III data in the fourth quarter for giredestrant in breast cancer and fenebrutinib in multiple sclerosis, paving the way for new treatments with peak sales opportunities of $5 billion each.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.
We exited the position as it reached our price target.
In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.
The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.