RIVN - ClearBridge Investments Select Strategy Q1 2022 Commentary

• ClearBridge is a leading global asset manager committed to active management. Research-based stock selection guides our investment approach, with our strategies reflecting the highest-conviction ideas of our portfolio managers.
• The Strategy’s overweight in growth and smaller cap stocks caused it to endure the worst of the selling pressure facing these areas.
• While our long-term bias of leaning into innovation and growth hurt performance, ownership of high-quality compounders and evolving opportunity stocks helped offset some of the recent volatility.
• We remained active through market turbulence, exiting a number of positions to manage risk while taking advantage of price dislocations to selectively add to our disruptor exposure as well as several evolving consumer names.

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