Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
ClearBridge's value strategy underperformed in Q2 as AI concentration punished perceived losers while rewarding winners. The team sees this valuation divergence creating opportunities in underappreciated quality companies. Strong performance from Alphabet, Bank of America, and McKesson was offset by weakness in Intel and transportation holdings. Portfolio adjustments focused on contrarian positioning in temporarily out-of-favor names.
Full Quick Take
ClearBridge's value strategy underperformed in Q2 as AI concentration punished perceived losers while rewarding winners. The team sees this valuation divergence creating opportunities in underappreciated quality companies. Strong performance from Alphabet, Bank of America, and McKesson was offset by weakness in Intel and transportation holdings. Portfolio adjustments focused on contrarian positioning in temporarily out-of-favor names.
Jensen highlights BTRY's breakthrough thin-film solid-state battery technology that runs ten times longer than lithium-ion batteries, alongside Toyota's 2027 solid-state car battery launch. The shift could accelerate electrification, increase lithium demand by 35%, and potentially displace green hydrogen in transportation applications.
Full Quick Take
Jensen highlights BTRY's breakthrough thin-film solid-state battery technology that runs ten times longer than lithium-ion batteries, alongside Toyota's 2027 solid-state car battery launch. The shift could accelerate electrification, increase lithium demand by 35%, and potentially displace green hydrogen in transportation applications.
