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Institutional Investor Advisor Individual Investor
Total AUM Avg. PM Years Experience Years Since Inception
$4.6B 23 39
As of March 31 2021

Strategy Average Annual Total Returns

(%, Gross of Fees)2
YTD 1 Year 3 Years 5 Years 7 Years 10 Years
ClearBridge All Cap Value Composite 14.83 68.37 8.60 11.94 8.58 9.38
Russell 3000 Value Index 11.89 58.38 10.99 11.87 9.35 10.91
As of March 31 2021

Overview

The All Cap Value Strategy invests in a diversified portfolio of stocks whose prices are undervalued in relation to underlying fundamentals.

Strategy Overview Value stocks across all market caps
Benchmark Russell 3000 Value Index
Total Strategy AUM $4.6B
Holdings Range 60-801
Objective Long-term capital growth, current income is a secondary consideration3

Investment Philosophy

The Strategy invests primarily in common stocks and common stock equivalents, such as preferred stocks and securities convertible into common stocks, of companies the portfolio managers believe are undervalued in the marketplace.

Meet Our Managers

Reed Cassady, CFA

Portfolio Manager
14 Years experience
14 Years at ClearBridge

Albert Grosman

Portfolio Manager
28 Years experience
14 Years at ClearBridge

Sam Peters, CFA

Portfolio Manager
28 Years experience
16 Years at ClearBridge

Strategy Facts

Integrates behavioral finance and market expectations into stock selection process.

Takes high active share approach, relying on multiple research sources to deliver a portfolio that differs significantly from its benchmark.

Portfolio managers Albert Grosman and Sam Peters bring a long tenure of investment experience.

Literature & Perspectives

Investment Process

  • Eliminate companies from consideration based on analysis of returns, capital allocation and market competition as well as growth/return expectations embedded in stock price
  • Assess stock valuations by considering a range of possible outcomes, understanding how expectations differ from the market and the impact of new information
  • Construct portfolio from the bottom up based on degree of undervaluation, risk of capital impairment and diversification

Performance

The Strategy aims to deliver above-average returns with downside protection.

Average Annual Total Returns (%, Gross of Fees)2

YTD 1 Year 3 Years 5 Years 7 Years 10 Years
ClearBridge All Cap Value Composite 14.83 68.37 8.60 11.94 8.58 9.38
Russell 3000 Value Index 11.89 58.38 10.99 11.87 9.35 10.91

Characteristics

The Strategy's broad mandate is reflected in a lower average market cap than the benchmark.

Sector Weights1,2

Representative Portfolio Russell 3000 Value Index
Financials 26.17 21.08
Industrials 11.94 14.12
Health Care 11.23 12.16
Information Technology 10.90 9.26
Consumer Discretionary 9.63 8.28
Energy 7.01 5.08
Utilities 5.75 4.95
Materials 5.28 4.88
Consumer Staples 4.47 6.84
Communication Services 3.93 8.72
Real Estate 3.18 4.61
Cash 0.51 0.00
Portfolio Characteristics1,2
Characteristics Representative Portfolio Russell 3000 Value Index
P/E Ratio (trailing 12 mos.) 21.9 23.1
P/E Ratio (forward 12 mos.) 14.3 18.1
Price/Book 2.8 3.4
EPS Growth Next 3-5 Years (%) 10.8 11.5
Weighted Median Market Cap ($ bn) 26.1 62.3
Weighted Average Market Cap ($ bn) 70.1 130.7
ROE 9.6 9.7
Dividend Yield 1.9 2.0
Turnover (trailing 12 mos.) 25.6 --
Risk Statistics1
10 Year Risk Statistics Composite Russell 3000 Value Index
Annualized Returns (10 Years) 9.38 10.91
Standard Deviation (%) 16.84 14.68
Sharpe Ratio 0.58 0.74
Tracking Error (%) 3.71 --
R2 0.96 --
Alpha (%) -2.39 --
Beta 1.13 --
Top 10 Holdings1
Characteristics % of Total Representative Portfolio
Johnson & Johnson 3.63
Synchrony Financial 3.60
OneMain Holdings Inc 3.39
Citigroup Inc 3.22
Wells Fargo & Co 3.08
US Bancorp 2.62
AES Corp/The 2.37
American International Group Inc 2.34
Johnson Controls International plc 2.26
DXC Technology Co 2.22
Total 28.73
Total Number of Holdings 79
  • 1

    Source: FactSet. Representative portfolio characteristics, holdings, sector weightings and market cap are based on a representative portfolio and are subject to change at any time. Holdings, sector weightings, market cap and portfolio characteristics of individual client portfolios may differ, sometimes significantly, from those shown. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed.

  • 2

    Past performance is no guarantee of future results. See GIPS endnotes. Performance is preliminary and subject to change.

  • 3

    There is no guarantee that the Strategy's objective will be met.

  • P/E ratios are weighted harmonic average. Price/Book is weighted average.

  • Performance source: Internal. Benchmark source: Russell Investments. Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings or underlying data and no party may rely on any Russell Indexes and/or Russell ratings and/or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell’s express written consent. Russell does not promote, sponsor or endorse the content of this communication.

  • Annualized Returns  1 Yr (12/31/20) 3 Yrs (12/31/20) 5 Yrs (12/31/20) 10 Yrs (12/31/20)
    Net of Fees -0.8% 1.5% 7.8% 7.8%
    Gross of Fees 0.0% 2.3% 8.6% 8.6%
    Russell 3000 Value 2.9% 5.9% 9.7% 10.4%
  • ClearBridge Investments, LLC claims compliance with the Global Investment Performance Standards (GIPS®). ClearBridge Investments, LLC ("ClearBridge") is a wholly owned subsidiary of Legg Mason, Inc. ("Legg Mason"). The investment advisory business now known as ClearBridge was registered in September 2005 to facilitate Legg Mason's acquisition of substantially all the equity asset management businesses known as Citigroup Asset Management. These former businesses serve as the foundation of ClearBridge and its claim of GIPS compliance for institutional accounts through predecessor firms, effective as of January 1997.  In June 2008, ClearBridge combined this business with its retail business to form a single GIPS firm.  As of April 1, 2013 and January 1, 2016, ClearBridge's affiliates, Global Currents Investment Management, LLC, and ClearBridge, LLC, respectively, have become part of the ClearBridge GIPS firm. In July 2020 Legg Mason, Inc. was purchased by Franklin Resources Inc. The ClearBridge All Cap Value Composite primarily invests in common stocks and common stock equivalents of large, medium and small capitalization companies which are believed to be undervalued in the marketplace. Results are calculated in U.S. dollars. The Russell 3000 Value Index measures the performance of the broad value segment of U.S. equity value universe. To receive a complete list and description of ClearBridge composites and/or a presentation that adheres to the GIPS standards, please contact ClearBridge Institutional Marketing.