Group 1: Broyhill Asset Management Performance - Broyhill Partners appreciated 3.7% net of all fees and expenses in Q2 2025, underperforming the MSCI All Country World Index which returned 11.7% [1] - For the six months ended June 30, the strategy returned 6.6% net of all fees and expenses, compared to 10.3% for the index [1] Group 2: IQVIA Holdings Inc. Overview - IQVIA Holdings Inc. (NYSE:IQV) is an analytical technology services and clinical research provider for the life sciences and healthcare industries [2] - The stock experienced a one-month return of -0.50% and a 52-week loss of 21.44%, closing at $190.20 per share with a market capitalization of $32.334 billion on September 18, 2025 [2] Group 3: Investment Insights on IQVIA Holdings Inc. - Broyhill Asset Management added a new position in IQVIA Holdings Inc. following a market dislocation, recognizing its entrenched revenue stream and competitive advantages [3] - IQVIA is a result of the 2016 merger between Quintiles and IMS Health, focusing on later-stage trials and generating significant profits from its technology and data business [3] - Despite its strengths, IQVIA shares are valued at 11x forward earnings, which is below historical levels [3] Group 4: Market Position and Earnings of IQVIA Holdings Inc. - IQVIA Holdings reported record revenue of $4 billion in Q2 2025, but is not among the 30 most popular stocks among hedge funds, with 65 hedge fund portfolios holding the stock at the end of Q2, down from 67 in the previous quarter [4] - While IQVIA is recognized for its potential, certain AI stocks are viewed as offering greater upside potential and less downside risk [4]