Core Insights - Baird Chautauqua International and Global Growth Fund's second quarter 2025 investor letter highlights a significant recovery in global equity markets after initial losses due to tariff announcements, with markets closing near all-time highs [1] - The fund underperformed its benchmark during the quarter, despite the overall market recovery [1] Company Summary: BeOne Medicines AG - BeOne Medicines AG (NASDAQ:ONC) is an oncology company focused on developing cancer treatments, with a one-month return of 7.99% and a 52-week gain of 47.21%, closing at $326.06 per share on September 26, 2025, with a market capitalization of $38.54 billion [2] - The company experienced an 11% decline in Q2 2025 after a 47% appreciation in Q1 2025, attributed to profit-taking and tariff concerns, while achieving first-time GAAP and non-GAAP net profits in Q1 2025 and maintaining its full-year guidance [3] - BeOne Medicines AG was held by 28 hedge fund portfolios at the end of Q2 2025, a decrease from 37 in the previous quarter, with the potential for greater upside seen in certain AI stocks [4]
Here’s Why BeOne Medicines Ltd. (ONC) Declined in Q2