Autozone (AZO) Fell as the Market Favored More Offensive Securities

Group 1 - Macquarie Asset Management's "Macquarie Core Equity Fund" reported a return of 11.94% in Q2 2025, outperforming the S&P 500 Index which rose by 10.94% [1] - The strong performance of the equity market was attributed to reduced concerns over potential tariffs from President Trump, leading to a pause in tariff implementation [1] - The fund's relative performance was primarily driven by sector selection (80%) and individual security selection (20%) [1] Group 2 - AutoZone, Inc. (NYSE:AZO) had a one-month return of 0.54% and a 52-week gain of 36.82%, with a market capitalization of $69.137 billion as of September 18, 2025 [2] - Despite its defensive nature, AutoZone's shares lagged behind the benchmark returns during the quarter as investors shifted towards more offensive securities [3] - AutoZone was held by 65 hedge fund portfolios at the end of Q2 2025, a decrease from 67 in the previous quarter, indicating a slight decline in popularity among hedge funds [3]