Macquarie Large Cap Growth Fund Sold LVMH Moët Hennessy – Louis Vuitton, Société Européenne (LVMUY) Despite Strong Conviction

Core Insights - Macquarie Asset Management's "Macquarie Large Cap Growth Fund" reported a positive return of 11.24% in Q2 2025, but underperformed the Russell 1000 Growth Index, which returned 17.84% [1] Group 1: Fund Performance - The Fund's Institutional Class shares achieved an absolute return of 11.24% in Q2 2025 [1] - The Russell 1000 Growth Index outperformed the Fund with a return of 17.84% during the same period [1] Group 2: LVMH Moët Hennessy - Louis Vuitton - LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY) had a one-month return of 6.44% but lost 9.07% over the last 52 weeks [2] - As of September 19, 2025, LVMH's stock closed at $120.15 per share, with a market capitalization of $303.8 billion [2] - The Fund exited its position in LVMH due to concerns about ongoing post-pandemic normalization and the difficulty in identifying growth catalysts [3] Group 3: Hedge Fund Interest - LVMH was held by 2 hedge fund portfolios at the end of Q2 2025, unchanged from the previous quarter [4] - The Fund acknowledges LVMH's potential but suggests that certain AI stocks may offer greater upside potential and less downside risk [4]