Overview

• The Global Technology Growth Strategy returned 25.11% gross (24.85% net) in Q2, beating the index’s 23.66% as early tariff uncertainty gave way to a policy-driven market rebound.
• Nvidia was a top contributor on heavy demand for its next‑generation Blackwell chips, which the firm says deliver up to 30x faster inference and greater energy efficiency, with sovereign deals helping offset China export limits.
• Broadcom also outperformed on “insatiable” orders for custom AI accelerators and an outlook pointing to 10 consecutive quarters of AI‑related semiconductor growth.
• Microsoft rallied more than 30% after upside results and AI enhancements welcomed by developers, supported by its ongoing partnership with OpenAI.
• Robinhood more than doubled on rapid product rollouts and friendlier crypto regulation, while Global Payments and Fiserv declined on execution questions and concerns about sustainable growth.