Group 1 - Brown Advisory's "Global Leaders Strategy" aims to deliver strong long-term performance by investing in a focused portfolio of companies that solve customer problems and provide good returns for shareholders, outperforming its benchmark in Q2 2025 due to strong investment selection in Information Technology and Industrials [1] - AutoZone, Inc. (NYSE:AZO) is highlighted as a key stock, with a one-month return of -1.42% and a 52-week gain of 35.38%, closing at $4,121 per share on September 22, 2025, with a market capitalization of $68.939 billion [2] - AutoZone is experiencing strong sales growth across its DIY and DIFM customer segments, benefiting from industry recovery and driving market share growth through investments in inventory expansion and distribution centers [3] Group 2 - AutoZone, Inc. (NYSE:AZO) is not among the 30 most popular stocks among hedge funds, with 65 hedge fund portfolios holding the stock at the end of Q2 2025, a decrease from 67 in the previous quarter [4] - While AutoZone is recognized for its potential, certain AI stocks are suggested to offer greater upside potential and less downside risk [4] - Additional insights on AutoZone can be found in Macquarie Core Equity Fund's views and other hedge fund investor letters [5]

Core Insights - UnitedHealth Group Incorporated (NYSE:UNH) is recognized as one of the best stocks for financial stability and investment opportunities [1][4]. Group 1: Insider Activity - Director Charles D. Baker sold 27 shares of common stock at a price of $356.05 per share, totaling $9,613, while retaining 1,248 shares directly [2]. - The sale occurred as UnitedHealth prepares to distribute a cash dividend of $2.21 per share, demonstrating a consistent history of delivering dividends for 33 consecutive years [3]. Group 2: Company Overview - UnitedHealth Group is a diversified healthcare company that provides insurance, pharmacy, data, and care delivery services globally [4].

Macquarie Asset Management, an investment management company, released its “Macquarie Large Cap Growth Fund” investor letter for the second quarter of 2025. A copy of the letter can be downloaded here. The second quarter of 2025 endured significant government policy changes and geopolitical events, which resulted in volatility yet ended with robust performance for equity markets. The Fund’s Institutional Class shares posted an absolute positive return of 11.24% in the quarter, but underperformed the benchma ...

Core Insights - Macquarie Asset Management's "Macquarie Large Cap Growth Fund" reported a positive return of 11.24% in Q2 2025, but underperformed the Russell 1000 Growth Index, which returned 17.84% [1] Company Performance - Waste Connections, Inc. (NYSE:WCN) experienced a one-month return of -4.51% and a 52-week decline of 3.60%, with its stock closing at $173.97 and a market capitalization of $44.73 billion on September 19, 2025 [2] - The performance of Waste Connections was negatively impacted as stable companies fell out of favor, despite no specific event affecting its fundamentals [3] Hedge Fund Interest - Waste Connections, Inc. was held by 43 hedge fund portfolios at the end of Q2 2025, an increase from 41 in the previous quarter, indicating growing interest among institutional investors [4]

Group 1 - Madison Mid Cap Fund reported a return of 5.2% in Q2 2025, underperforming the Russell Midcap Index which increased by 8.5% [1] - The fund highlighted Brown-Forman Corporation (NYSE:BF-B) as a notable stock, which experienced a one-month return of -11.47% and a 52-week decline of 41.58% [2] - Brown-Forman's stock closed at $27.48 on September 19, 2025, with a market capitalization of $12.888 billion [2] Group 2 - The fund sold its small position in Brown-Forman due to a lack of post-Covid recovery in liquor sales, attributed to changing consumption trends among younger demographics and external factors like tariffs [3] - Brown-Forman is not among the 30 most popular stocks among hedge funds, with 37 hedge fund portfolios holding the stock at the end of Q2 2025, unchanged from the previous quarter [4] - The analysis suggests that certain AI stocks may offer better investment potential compared to Brown-Forman, indicating a shift in investor interest [4]

Group 1 - Madison Mid Cap Fund's Class Y returned 5.2% in Q2 2025, underperforming the Russell Midcap Index which increased by 8.5% [1] - The fund highlighted Dollar Tree, Inc. (NASDAQ:DLTR) as a significant stock, which saw a one-month return of -14.79% but a 52-week gain of 32.75% [2] - Dollar Tree's market capitalization was reported at $19.43 billion as of September 19, 2025, with shares closing at $95.26 [2] Group 2 - The fund sold its holdings in Dollar Tree, citing increased risk due to tariff announcements and a deteriorating risk profile, despite positive performance indicators from the company [3] - Dollar Tree's net sales for Q2 2025 increased by 12.3% to $4.6 billion, driven by comparable sales growth [4] - The number of hedge funds holding Dollar Tree decreased from 67 to 59 in the second quarter of 2025, indicating a decline in popularity among institutional investors [4]

Group 1 - Madison Mid Cap Fund's Class Y returned 5.2% in Q2 2025, underperforming the Russell Midcap Index which increased by 8.5% [1] - The fund's top five holdings were highlighted, indicating its best picks for 2025 [1] Group 2 - Floor & Decor Holdings, Inc. (NYSE:FND) is a multi-channel specialty retailer of hard surface flooring, with a one-month return of 0.48% and a 52-week loss of 30.37% [2] - As of September 18, 2025, Floor & Decor's stock closed at $83.37, with a market capitalization of $8.978 billion [2] - The Madison Mid Cap Fund increased its holdings in Floor & Decor during Q2 2025, despite declining investor sentiment in housing-related stocks, maintaining a positive long-term earnings outlook for the company [3] - Floor & Decor's sales grew by 7.1% to $1.214 billion in Q2 2025, with 46 hedge fund portfolios holding the stock, an increase from 44 in the previous quarter [3]

Core Viewpoint - Jim Cramer advises against investing in Occidental Petroleum Corporation (NYSE:OXY), labeling it as a subpar oil company with limited growth potential, despite its ownership by Berkshire Hathaway [1]. Company Overview - Occidental Petroleum Corporation engages in the exploration and production of oil, natural gas, and natural gas liquids (NGLs), in addition to operating chemical manufacturing and midstream marketing businesses [1]. Investment Sentiment - Cramer expresses skepticism about the future performance of OXY, indicating that he does not foresee the company receiving any significant bids or an increase in oil prices [1]. - The article suggests that while OXY has potential, there are AI stocks that present greater upside potential and lower downside risk, indicating a shift in investment focus [1].

Group 1 - Nordic American Tankers Limited (NYSE:NAT) operates a fleet of Suezmax crude oil tankers and reported a Q2 2025 net loss of $0.9 million, a decline from a profit of $4.2 million in Q1 [1] - The company's net voyage revenue increased by 5.8% year-over-year to $40.15 million [1] - The average time charter equivalent (TCE) for the fleet rose to $26,880 per day from $24,714 in the previous quarter, with 14 out of 20 vessels operating in the spot market [1] Group 2 - There is a belief that certain AI stocks may offer greater upside potential and carry less downside risk compared to NAT [2] - The article suggests that there are extremely undervalued AI stocks that could benefit from Trump-era tariffs and the onshoring trend [2]

Company Overview - Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) operates a chain of drive-thru coffee shops that serve specialty coffees, teas, smoothies, and energy drinks [2] Financial Performance - The company achieved a revenue growth of 21% last year, which accelerated to 24% in the first half of this year [1] - In the latest quarter, Black Rock Coffee reported a same-store sales growth of 10.9%, an increase of 3.9% compared to the same quarter last year [1] Market Position - Jim Cramer noted that while there is nothing inherently wrong with Black Rock Coffee, Dutch Bros presents a "better risk-reward" scenario [1] - Black Rock Coffee has 1.8 million rewards members, who account for 63% of their transactions, indicating strong customer loyalty [1]