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| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Oct 12, 2026
Hardman Johnston Large Cap Equity pursues long-term capital appreciation through a disciplined, high-active-share approach focused on high-quality large-capitalization companies benefiting from durable secular growth trends while maintaining sector diversification. For the third quarter of 2026, the strategy returned 1.19% net of fees, lagging the benchmark S&P 500 Total Return Index return of 2.30%. Performance was driven by notable positive contributions from non-technology holdings in healthcare and consumer products, specifically Illumina, IQVIA Holdings, and SharkNinja, demonstrating the portfolio benefits of multi-sector diversification. Detractors included AI-adjacent industrial and technology suppliers Curtiss-Wright, Advanced Energy Industries, and Vertiv Holdings as momentum temporarily cooled across the AI infrastructure trade. The management team remains constructive on foundational AI infrastructure demand, asserting that the ecosystem remains in the early innings given substantial backlogs and persistent demand-supply imbalances. Macro headwinds include elevated interest rates, persistent energy-driven inflation, geopolitical friction, and fiscal deficits.
Capitalize on high-quality secular growth leaders across diversified sectors, balancing exposure between early-stage artificial intelligence infrastructure and non-correlated compounders in healthcare and consumer products.
The investment manager expects the AI buildout to persist over the multi-year horizon as demand for services continues to outstrip available capacity, supported by strong infrastructure backlogs. Concurrently, broader domestic growth is expected to find stability in reshoring investments and robust consumer balance sheets, while sector diversification remains essential to navigate macroeconomic volatility driven by elevated interest rates and geopolitical conflicts.
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