The fund adjusted its portfolio to a non-diversified approach in Q2 2026, citing stock selection and sector allocation challenges.
ClearBridge Investments reduced its position in Alphabet (GOOG) during Q2 2026 as part of a broader portfolio adjustment. The firm transitioned its Large Cap Growth Strategy to a non-diversified approach, aiming for greater flexibility amid a 15.2% rally in the S&P 500 and a 16.7% gain in the Russell 1000 Growth Index.
The shift underperformed the benchmark, driven by stock selection and sector allocation decisions. Alphabet closed at $358.71 on July 8, 2026, with a 0.60% one-month return and a 100.73% gain over the past year. The reconstitution of Russell U.S. Indexes and the SpaceX IPO influenced large-cap growth benchmarks this quarter.
The strategy’s top holdings were also updated, reflecting the firm’s revised outlook for the sector.