Clearbridge Investments
ClearBridge Investments International Growth EAFE Strategy
International Large-cap Growth
Mar 2025 → Jun 2026
Our archive holds 4 letters from this strategy, behind 4 investment theses and positions in 35 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in 2 years — follow all of Clearbridge Investments for every strategy.
What it bought and sold
We also closed positions in SAP in IT, Agnico Eagle Mines and Heidelberg Materials in materials and Wuxi AppTec in health care.
Other notable moves included the sale of Chinese digital conglomerate Tencent, an out-of-benchmark position that helped fund the increase of our Japan exposure.
We also closed positions in SAP in IT, Agnico Eagle Mines and Heidelberg Materials in materials and Wuxi AppTec in health care.
We also closed positions in SAP in IT, Agnico Eagle Mines and Heidelberg Materials in materials and Wuxi AppTec in health care.
We also swapped French insurer AXA Group for U.K. insurer Prudential, which has improved distribution and streamlined its platforms in Asia.
In addition to the transactions mentioned above, the Strategy repurchased ABB, Recruit Holdings, Atlas Copco and Mitsubishi Electric in industrials and added Anheuser-Busch InBev in consumer staples.
In addition, we harvested gains in German exchange and financial data provider Deutsche Boerse and also sold Dutch payments provider Adyen.
We took profits in U.K. bank NatWest Group and Italian bank Intesa Sanpaolo as earnings progression has slowed and to focus on companies with long-term growth drivers at more attractive valuations like Swiss investment bank and wealth manager UBS Group.
The Strategy was also hurt by not owning several IT stocks in the index that soared due to AI demand, such as Japanese memory manufacturer Kioxia, which we purchased in late June.
In addition, we harvested gains in German exchange and financial data provider Deutsche Boerse and also sold Dutch payments provider Adyen.
We also closed positions in SAP in IT, Agnico Eagle Mines and Heidelberg Materials in materials and Wuxi AppTec in health care.
We also swapped French insurer AXA Group for U.K. insurer Prudential, which has improved distribution and streamlined its platforms in Asia.
We took profits in U.K. bank NatWest Group and Italian bank Intesa Sanpaolo as earnings progression has slowed and to focus on companies with long-term growth drivers at more attractive valuations like Swiss investment bank and wealth manager UBS Group.
Also held
Its investment theses
- Seagate TechnologyJun 2026Seagate Technology is a storage provider benefiting from structurally rising demand for low-cost, high-capacity AI infrastructure storage.
- NokiaJun 2026Nokia has shifted into long-haul optical and laser solutions and is expanding capacity to meet AI connectivity demand.
- HSBC Holdings plcSep 2025HSBC is well-positioned to capitalize on growth in Asian wealth management, benefiting from strong mainland Chinese investment and offering attractive returns through high dividends and share buybacks.
- KBC GroupSep 2025KBC is a growing diversified banking and financial services provider with a successful cross-selling model and a strong capital position for potential distributions and acquisitions.