Here’s How Not Owning Tesla (TSLA) Impacted Macquarie Large Cap Growth Fund’s Performance

Core Insights - Macquarie Asset Management's "Macquarie Large Cap Growth Fund" reported positive returns in Q3 2025, but underperformed against the Russell 1000 Growth Index due to an unfavorable market environment and missteps [1] - AI-themed stocks were significant contributors to market gains, accounting for approximately 75% of market returns in the quarter [1] Fund Performance - The fund's performance lagged behind the benchmark, primarily due to not holding Tesla, Inc. and positions in Intercontinental Exchange Inc. and Intuit Inc. [3] - The fund has consistently avoided Tesla, citing that it does not meet their quality standards despite its volatile nature and frequent earnings misses [3] Tesla, Inc. Insights - Tesla, Inc. achieved a one-month return of 0.79% and a remarkable 93.94% increase over the past 52 weeks, closing at $429.24 per share with a market capitalization of $1.427 trillion on October 14, 2025 [2] - Tesla is ranked 23rd among the 30 Most Popular Stocks Among Hedge Funds, with 115 hedge fund portfolios holding its stock at the end of Q2 2025, an increase from 104 in the previous quarter [4] - While acknowledging Tesla's potential, the company believes that certain AI stocks present greater upside potential with less downside risk [4]