ClearBridge Large Cap Value adds TSM and PNC, exits Novo Nordisk and U.S. Bancorp

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The ClearBridge Large Cap Value (MUTF:SINAX [https://seekingalpha.com/symbol/SINAX]) Strategy outperformed its Russell 1000 Value Index benchmark during the third quarter, helped by both stock selection and sector allocation, with semiconductor stocks leading the way.

As such, the fund initiated a position in the quarter in Taiwan Semiconductor (NYSE:TSM [https://seekingalpha.com/symbol/TSM]), which has a dominant market share in leading-edge nodes such as 3nm and 2nm, which are being adopted by nearly all major AI companies.

It also initiated a new position in PNC (NYSE:PNC [https://seekingalpha.com/symbol/PNC]).

ClearBridge Large Cap Value (MUTF:SINAX [https://seekingalpha.com/symbol/SINAX]), however, exited GLP-1 maker Novo Nordisk (NVO [https://seekingalpha.com/symbol/NVO]) and U.S. Bancorp (NYSE:USB [https://seekingalpha.com/symbol/USB]).

Additionally, the fund increased its position in Alphabet (NASDAQ:GOOG [https://seekingalpha.com/symbol/GOOG]), and "reduced outsize bets in high-volatility stocks such as Intel (NASDAQ:INTC [https://seekingalpha.com/symbol/INTC]) and Microchip Technology (NASDAQ:MCHP [https://seekingalpha.com/symbol/MCHP]), which should reduce performance volatility."

Looking ahead, the fund remains "cautiously optimistic" about the market, focusing on high-quality companies that can compound returns over time, regardless of short-term macro or geopolitical noise.

Source [https://seekingalpha.com/article/4829695-clearbridge-large-cap-value-strategy-q3-2025-commentary]

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