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Axon Enterprise Surges 112% in 52 Weeks, Fueling Mid-Cap Growth
28 Aug
Summary
- ClearBridge Mid Cap Growth Strategy rebounds in Q2 2025
- Axon Enterprise sees strong performance, driving adoption of public safety solutions
- Limited exposure to leading rally participants impacts fund's benchmark performance
In the second quarter of 2025, the ClearBridge Mid Cap Growth Strategy rebounded after a soft start to the year. The midcap fund's performance was driven by strong demand for AI and a low-quality rally, which enabled growth stocks to overcome tariff-led uncertainty.
Despite the strategy's strong absolute returns, it failed to keep pace with its benchmark. This was due to the fund's limited exposure to several of the rally's leading participants, including Axon Enterprise, Inc. (NASDAQ:AXON) in the industrials sector.
Axon Enterprise, a leading provider of public safety software solutions and hardware, including TASER devices and body cameras, saw its stock surge 112.62% over the past 52 weeks. The company continued to innovate and broaden its safety and productivity offerings, driving greater adoption and strong growth in a large total addressable market.
With an installed base of over one million software subscribers, Axon is increasingly positioned as the premier operating system for public safety. The ClearBridge Mid Cap Growth Strategy initiated a new position in Axon during the quarter, recognizing the company's potential as a long-term compounder in the mid-cap growth universe.
Despite the fund's underperformance relative to the benchmark, the ClearBridge team remains optimistic about the ability of the mid-cap growth sector to offer attractive long-term investment opportunities.
