Brown Advisory Mid-Cap Growth Strategy Portfolio Q1 2026 Commentary
Brown Advisory
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2026-04-27
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via All Articles on Seeking Alpha
Summary
- The Mid-Cap Growth Strategy underperformed the Russell Midcap Growth Index in the first quarter of 2026, returning -8.9% gross compared to the benchmark's -6.3% return.
- Underperformance was driven by the "SaaS-pocalypse," where share prices of high-quality software, business, and information-services companies declined due to perceived threats from artificial intelligence.
- Brown Advisory’s decision not to own Vertiv Holdings Co, which was sold late last year, accounted for nearly half of the Strategy's relative performance shortfall during the quarter.
- Brown Advisory eliminated positions in Workday, Inc, Gartner, Inc, and Verisk Analytics, Inc while finding opportunities to reinitiate a position in Guidewire Software, Inc following a meaningful price retrenchment.
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