London Company Large Cap Sold Its Holdings in Bruker Corporation (BRKR) in Q3

Core Insights - The London Company reported a 6.3% return (6.2% net) for its Large Cap Strategy in Q3 2025, underperforming the Russell 1000 Index which gained 8.0% during the same period [1] - The overall economic momentum remained strong despite mixed economic data in Q3 2025, driven by a Fed rate cut, solid corporate earnings, and enthusiasm around AI [1] Company-Specific Insights - Bruker Corporation (NASDAQ:BRKR) was highlighted in the investor letter, with a one-month return of 6.17% but a significant 34.78% decline over the past 52 weeks, closing at $38.71 per share with a market capitalization of $5.873 billion on November 3, 2025 [2] - The London Company decided to exit its position in Bruker Corporation due to significant underperformance since purchase in 2024, citing weak pharma spending, potential cuts to NIH and academic funding, and tariff concerns as headwinds [3] - Bruker Corporation is not among the 30 most popular stocks among hedge funds, with 42 hedge fund portfolios holding the stock at the end of Q2 2025, an increase from 40 in the previous quarter [4]