Investment objective & strategy
As of April 18, 2024 · prospectusObjective. The investment objective of the Portfolio is to seek income, capital preservation, and capital appreciation.
Strategy. In pursuing its investment objective, the Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in equity or equity-related securities, which ClearBridge Investments, LLC (ClearBridge), the subadviser to the Portfolio, believes have the ability to increase dividends over the longer term. ClearBridge manages the Portfolio to provide exposure to companies that either pay an existing dividend or have the potential to pay and/or significantly grow their dividends. To do so, ClearBridge conducts fundamental research to screen for companies that have attractive dividend yields, a history and potential for positive dividend growth, strong balance sheets, and reasonable valuations. ClearBridge may invest the Portfolios assets in US and foreign securities. In pursuing its investment objective, the Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in equity or equity-related securities, which ClearBridge Investments, LLC (ClearBridge), the subadviser to the Portfolio, believes have the ability to increase dividends over the longer term. ClearBridge manages the Portfolio to provide exposure to companies that either pay an existing dividend or have the potential to pay and/or significantly grow their dividends. To do so, ClearBridge conducts fundamental research to screen for companies that have attractive dividend yields, a history and potential for positive dividend growth, strong balance sheets, and reasonable valuations. ClearBridge may invest the Portfolios assets in US and foreign securities.
Top holdings
As of Dec. 31, 2024 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MICROSOFT CORP | — | $10.56M | 3.94% |
| BROADCOM INC | — | $10.01M | 3.74% |
| JPMORGAN CHASE and CO | — | $10.00M | 3.74% |
| SEMPRA ENERGY | — | $9.28M | 3.47% |
| PGIM Institutional Money Market Fund - D | — | $9.15M | 3.42% |
| ENBRIDGE INC | — | $8.49M | 3.17% |
| WILLIAMS COS INC | — | $8.25M | 3.08% |
| BECTON DICKINSON and CO | — | $8.23M | 3.07% |
| EXXON MOBIL CORP | — | $8.13M | 3.04% |
| NESTLE S A SPONSORED ADR | NSRGY | $7.54M | 2.81% |
Portfolio moves
Sep 30, 2024 → Dec 31, 2024How 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. |
|---|---|---|
| Milliman - Capital Group Hedged U.S. Income and Growth Fund | 31% | 1.09% |
| ClearBridge Focus Value ESG ETF · CFCV | 30% | 0.48% |
| Chestnut Street Exchange Fund | 27% | — |
Advisers
| Firm | Role |
|---|---|
| PGIM INVESTMENTS LLC | Adviser |
| ClearBridge Investments, LLC | Sub-adviser |
| AST Investment Services, Inc. | Adviser |
Footnotes
- Net assets and holdings count as of December 31, 2024, from the fund's N-PORT filing.
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