Post by Baird

Equity markets posted robust gains in Q2, driven by a concentrated AI capex trade. While this benefited select areas, many high-quality businesses lagged. In our latest commentary on the Baird Chautauqua International and Global Growth strategies, we reflect on a challenging period for relative performance and how we’re positioning through it. • Market leadership remains highly concentrated • AI-driven gains dominated returns • Quality businesses in sectors like software, health care, and China saw continued valuation pressure Read the full commentary: https://bit.ly/4wEgL6w