Rothschild & Co LongRun Equity’s Investment Thesis for Cadence Design Systems (CDNS)

Core Insights - Rothschild & Co Wealth Management's LongRun Equity strategy reported a return of +3.9% in Q3 2025, underperforming its benchmark which returned 7.5% [1] - Since inception, the strategy has achieved an annualized return of 10%, compared to 11% for global equities, indicating a relative underperformance [1] - The market has favored riskier, growth-oriented, and often unprofitable companies over the firm's selection of high-quality, profitable companies [1] Company Focus: Cadence Design Systems, Inc. - Cadence Design Systems, Inc. (NASDAQ:CDNS) is highlighted as a key investment, providing essential tools for designing advanced technology chips [3] - The stock of Cadence Design Systems, Inc. had a one-month return of 3.72% and a 52-week gain of 2.97% [2] - As of December 24, 2025, Cadence Design Systems, Inc. closed at $317.76 per share, with a market capitalization of $86.586 billion [2]