Group 1: ClearBridge Investments and Mid Cap Strategy - ClearBridge Mid Cap Strategy underperformed against the Russell Midcap Index, which returned 0.16% during Q4 2025 due to narrow market leadership and sentiment-driven trading [1] - Weakness in information technology and real estate holdings negatively impacted returns, while gains in select consumer discretionary stocks provided partial support [1] - The portfolio management team expressed cautious optimism for the future, citing improving clarity around policy, interest rates, and business investment as potential positive factors for active stock selection [1] Group 2: Corpay Inc. Overview - Corpay Inc. (NYSE:CPAY) is a corporate payments company with a one-month return of 5.66% and a market capitalization of approximately $22.24 billion as of January 27, 2026 [2] - The stock has traded between $252.84 to $400.81 over the last 52 weeks, closing at approximately $317.96 per share [2] Group 3: ClearBridge's Position on Corpay Inc. - ClearBridge Investments exited its position in Corpay Inc. due to emerging stablecoin technologies introducing new uncertainties around its payments business [3] - Corpay Inc. is not among the 30 most popular stocks among hedge funds, with 45 hedge fund portfolios holding the stock at the end of Q3, up from 42 in the previous quarter [3] - ClearBridge believes that certain AI stocks present greater potential for higher returns in a shorter timeframe compared to Corpay Inc. [3]