Clearbridge Investments
ClearBridge Investments SMID Cap Growth Strategy
US Mid-cap Growth
Dec 2024 → Sep 2026
Our archive holds 5 letters from this strategy, behind 4 investment theses and positions in 64 companies. Every quote below is copied verbatim from the letter it came from.
5 letters in 3 years · follow all of Clearbridge Investments for every strategy.
What it bought and sold
Highlights include: • Affirm, in the financials sector, is a leading “buy now, pay later” platform offering consumers installment financing at checkout and through its own Affirm Card.
We also exited BJ’s Wholesale Club, Shift4 Payments, SentinelOne and Viking Therapeutics as part of our ongoing effort to reallocate capital toward higher-conviction opportunities or to manage portfolio construction considerations.
We also exited BJ’s Wholesale Club, Shift4 Payments, SentinelOne and Viking Therapeutics as part of our ongoing effort to reallocate capital toward higher-conviction opportunities or to manage portfolio construction considerations.
We exited positions in Argan, Kratos Defense & Security Solutions and York Space Systems in the industrials sector.
In addition to the transactions discussed above, we added positions in, FirstCash in financials, JFrog in IT, Lindblad Expeditions in consumer discretionary, Materion in materials and Spyre Therapeutics and Twist Biosciences in health care.
In addition to the transactions discussed above, we added positions in, FirstCash in financials, JFrog in IT, Lindblad Expeditions in consumer discretionary, Materion in materials and Spyre Therapeutics and Twist Biosciences in health care.
Bloom Energy and Credo Technology saw their market caps eclipse what we believed to be an appropriate level for a SMID strategy, and we subsequently exited the positions.
We also exited BJ’s Wholesale Club, Shift4 Payments, SentinelOne and Viking Therapeutics as part of our ongoing effort to reallocate capital toward higher-conviction opportunities or to manage portfolio construction considerations.
We exited positions in Argan, Kratos Defense & Security Solutions and York Space Systems in the industrials sector.
- ExitedYork Space SystemsSep 2026
We exited positions in Argan, Kratos Defense & Security Solutions and York Space Systems in the industrials sector.
In addition to the transactions discussed above, we added positions in, FirstCash in financials, JFrog in IT, Lindblad Expeditions in consumer discretionary, Materion in materials and Spyre Therapeutics and Twist Biosciences in health care.
We also exited BJ’s Wholesale Club, Shift4 Payments, SentinelOne and Viking Therapeutics as part of our ongoing effort to reallocate capital toward higher-conviction opportunities or to manage portfolio construction considerations.
In addition to the transactions discussed above, we added positions in, FirstCash in financials, JFrog in IT, Lindblad Expeditions in consumer discretionary, Materion in materials and Spyre Therapeutics and Twist Biosciences in health care.
In addition to the transactions discussed above, we added positions in, FirstCash in financials, JFrog in IT, Lindblad Expeditions in consumer discretionary, Materion in materials and Spyre Therapeutics and Twist Biosciences in health care.
In addition to the transactions discussed above, we added positions in, FirstCash in financials, JFrog in IT, Lindblad Expeditions in consumer discretionary, Materion in materials and Spyre Therapeutics and Twist Biosciences in health care.
During the quarter we exited life sciences tools provider Bio-Techne following its announced acquisition by Merck KGaA.
Bloom Energy and Credo Technology saw their market caps eclipse what we believed to be an appropriate level for a SMID strategy, and we subsequently exited the positions.
we initiated positions in Arxis, Sterling Infrastructure, and Woodward in the industrials sector, SiTime, Cipher Digital, D-Wave Quantum and DigitalOcean in the IT sector, Liftoff Mobile in the communication services sector and Axsome Therapeutics, Vaxcyte and Kymera Therapeutics in the health care sector.
We profitably exited the name during the quarter.
we initiated positions in Arxis, Sterling Infrastructure, and Woodward in the industrials sector, SiTime, Cipher Digital, D-Wave Quantum and DigitalOcean in the IT sector, Liftoff Mobile in the communication services sector and Axsome Therapeutics, Vaxcyte and Kymera Therapeutics in the health care sector.
On the sell side, we exited specialty insurance distributor Ryan Specialty due to softer insurance conditions, margin pressure and AI- related uncertainty; Silicon Laboratories following its proposed acquisition by Texas Instruments; cosmetics and skin care maker e.l.f. Beauty as execution and innovation concerns weakened the thesis; and medical device company Penumbra following its announced acquisition by Boston Scientific.
Health care activity included a new position in Guardant Health.
we initiated positions in Arxis, Sterling Infrastructure, and Woodward in the industrials sector, SiTime, Cipher Digital, D-Wave Quantum and DigitalOcean in the IT sector, Liftoff Mobile in the communication services sector and Axsome Therapeutics, Vaxcyte and Kymera Therapeutics in the health care sector.
We exited positions in FTAI Aviation and Rocket Lab in the industrials sector, Colliers International in the real estate sector, Chime Financial in the financials sector, Doximity in the health care sector and IonQ in the IT sector.
Also held
Its investment theses
- Kiniksa PharmaceuticalsSep 2026Kiniksa Pharmaceuticals is a commercial-stage biotech focused on pericarditis with ARCALYST and a potentially valuable follow-on drug.
- FabrinetJun 2026Fabrinet is a leading contract manufacturer of optical communications components, benefiting from AI-driven demand for data center and telecom networking.
- MACOM Technology SolutionsJun 2026MACOM Technology Solutions uses compound semiconductor expertise to provide differentiated exposure to AI, defense and satellite communications.
- RadNetDec 2024RadNet is a growing player in the health care sector, benefiting from a shift to freestanding diagnostic imaging centers, with growth potential through geographic expansion and AI applications.