ClearBridge Investments Small Cap Growth Strategy’s Q4 2025 Investor Letter

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” Q4 2025 investor letter. The Strategy underperformed the Russell 2000 Growth Index in the fourth quarter, after a strong first three quarters of 2025. Market’s overreactions to earnings disappointments in the technology sector and a biotech rally drove the relative underperformance of the Strategy in the quarter. In a volatile year, dominated by a narrow set of themes, the small caps failed to outperform large caps, echoing the past two years, although broadening appears to be emerging. Heading to 2026, the Strategy is optimistic about the favorable backdrop for small-cap growth stocks following years of narrow market leadership and performance disparities. Please review the Strategy’s top five holdings to gain insights into their key selections for 2025.

A copy of ClearBridge Investments Small Cap Growth Strategy’s Q4 2025 investor letter can be downloaded here.