Brown Advisory Global Leaders Strategy Exited Illumina (ILMN) in Q2. Here’s Why

Group 1: Brown Advisory Global Leaders Strategy Overview - Brown Advisory released its second-quarter 2025 investor letter for the Global Leaders Strategy, focusing on long-term performance through a concentrated portfolio of companies that address customer needs and yield good shareholder returns [1] - The strategy outperformed its benchmark during the quarter, primarily due to investment selection in Information Technology and Industrials [1] Group 2: Illumina, Inc. (NASDAQ:ILMN) Performance - Illumina, Inc. is highlighted as a key stock in the investor letter, with a one-month return of 3.10% and a 52-week loss of 21.02%, closing at $102.75 per share on September 19, 2025, with a market capitalization of $15.793 billion [2] - In the second quarter, Illumina generated approximately $1.06 billion in revenue, reaching the upper end of its guidance range, despite a 3% decline compared to Q2 2024 [4] Group 3: Investment Decisions Regarding Illumina, Inc. - Brown Advisory exited its position in Illumina in May due to a combination of regulatory changes, budget cuts from the National Institute of Health in the U.S., a complete import ban on sales into China, and increased competitive risks [3] - The number of hedge funds holding Illumina decreased from 60 to 54 in the second quarter, indicating a decline in popularity among institutional investors [4]