Investment objective & strategy
As of April 24, 2025 · prospectusObjective. Long-term capital appreciation.
Strategy. Under normal market conditions, the fund will invest at least 80% of net assets, plus any borrowings for investment purposes, in equity securities of companies with small market capitalizations domiciled, or having their principal activities, in the United States, at the time of investment or other investments with similar economic characteristics. The fund normally intends to hold a portfolio that is generally comparable to, but not the same as, the Russell 2000 Index in terms of economic sector weightings and market capitalization but may depart from this if the portfolio managers believe it to be in the best interests of the fund. The fund may also invest in securities of foreign companies in the form of American Depositary Receipts (ADRs). Under normal market conditions, the fund will invest at least 80% of net assets, plus any borrowings for investment purposes, in equity securities of companies with small market capitalizations domiciled, or having their principal activities, in the United States, at the time of investment or other investments with similar economic characteristics. The fund normally intends to hold a portfolio that is generally comparable to, but not the same as, the Russell 2000 Index in terms of economic sector weightings and market capitalization but may depart from this if the portfolio managers believe it to be in the best interests of the fund. The fund may also invest in securities of foreign companies in the form of American Depositary Receipts (ADRs).
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BLOOM ENERGY CORP CL A | — | $1.86M | 1.57% |
| NEXTRACKER INC CL A | — | $1.57M | 1.32% |
| Invesco Treasury Portfolio, Institutional Class | — | $1.34M | 1.12% |
| SSR MINING INC | — | $1.29M | 1.09% |
| POWELL INDUSTRIES INC | — | $1.19M | 1.00% |
| ARGAN INC | — | $1.17M | 0.99% |
| ENSIGN GROUP INC | — | $1.11M | 0.94% |
| PAR PACIFIC HOLDINGS INC | — | $1.11M | 0.94% |
| CREDO TECHNOLOGY GROUP HOLDING LTD | — | $1.09M | 0.92% |
| CALIFORNIA RESOU | — | $1.07M | 0.90% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Allspring Disciplined Small Cap Fund · NVSOX, WSCOX, WSCJX, WDSAX | 40% | 0.50% |
| AQR Small Cap Multi-Style Fund · QSMLX, QSMNX, QSERX | 37% | 0.80% |
| Schwab Small-Cap Equity Fund · SWSCX | 36% | 1.09% |
Advisers
| Firm | Role |
|---|---|
| FRANKLIN TEMPLETON FUND ADVISER, LLC | Adviser |
| Western Asset Management Company, LLC | Sub-adviser |
| Franklin Advisers, Inc. | Sub-adviser |
Footnotes
- Expense ratio as of April 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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