Demand For High-Growth Momentum Stocks Lifted Broadcom (AVGO) in Q2

Market Overview - The stock market experienced significant volatility in Q2 2025, with the S&P 500 reaching an all-time high by the end of June despite a 7% drop from April 2 to April 7 due to the liberation day tariff announcement [1] - The market rebounded, gaining over 22% from the April 7 low through the end of June [1] - The Russell 1000 Growth returned 17.8% and the S&P 500 returned 10.9% in the quarter, with large caps significantly outperforming small caps and growth outperforming value [1] Renaissance Large Cap Growth Strategy Performance - The strategy outperformed the S&P 500 Index but underperformed the Russell 1000 Growth benchmark [1] Broadcom Inc. (NASDAQ:AVGO) Highlights - Broadcom Inc. was the largest contributor to the portfolio performance in Q2 2025, benefiting from strong operating results and guidance [3] - The stock had a one-month return of 7.62% and gained 127.16% over the last 52 weeks, closing at $336.67 per share with a market capitalization of $1.584 trillion on September 09, 2025 [2] - Broadcom's growth in hyperscale and connectivity product portfolios has increased revenue exposure to faster-growing artificial intelligence applications, offsetting a slowdown in its legacy semiconductor business [3] Financial Performance - In the fiscal third quarter of 2025, Broadcom reported record revenue of $16 billion, up 22% year-over-year [4] - Broadcom is ranked 12th among the 30 Most Popular Stocks Among Hedge Funds, with 156 hedge fund portfolios holding its stock at the end of Q2 2025 [4]