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Brown Advisory Global Leaders strategy said it added Nvidia in June
The strategy delivered a 4.6% net return in Q2 2026 versus 14.9% for the MSCI ACWI Net Index, citing underexposure to semiconductors and technology hardware.
Brown Advisory’s investment arm said it initiated a position in Nvidia in June, highlighting the chipmaker’s role in artificial intelligence infrastructure in its second-quarter 2026 investor letter for the Brown Advisory Global Leaders Strategy. The firm described Nvidia as a semiconductor company whose GPUs and computing platforms support AI, data centers, and high-performance computing.
Yahoo Finance reported the strategy posted a 4.6% net return in the second quarter of 2026, underperforming its benchmark, the MSCI ACWI Net Index, which returned 14.9%. The letter attributed the relative weakness mainly to underexposure to semiconductors and technology hardware, while also noting that software, cloud services, and financial holdings weighed on results.
The manager said performance benefited from holdings tied to AI infrastructure, as semiconductor exposure and AI-related investments gained from strong demand. Looking ahead, Brown Advisory characterized the active stock-picking environment as attractive, with its ready-to-buy list at the highest level since the COVID-19 period and an estimated 12% to 13% average five-year base-case IRR, alongside a focus on quality, valuation discipline, and long-term cash-flow generation.
The letter also discussed Nvidia’s recent trading and scale, noting its one-month return of 10.0% and that the shares traded between $164.1 and $236.5 over the past 52 weeks. It said Nvidia stock closed around $219.0 on August 7, 2026, with market capitalization of about $5.4 trillion.