L2’s Large Cap Core strategy rose 16.76% net in the quarter while the benchmark Russell 1000 ETF rose 15.08%. This quarter saw us make up much of the ground lost to the benchmark in Q1. Almost all of the excess return came from stock selection. Inception to date, we have regained a healthy lead on the benchmark (66.88% vs. 60.45%).
Outperformance this quarter was driven by the strategy’s high-conviction, differentiated holdings that sit well outside the benchmark’s mega-cap core. Micron was the standout, contributing significantly after gaining 240%, and a broad set of names built on that: Applied Materials, Cisco, Qualcomm, Morgan Stanley, Keysight, Qorvo, and BorgWarner all added meaningfully.
L2 Large Cap Core Strategy – June Q2 2026
Table of contents
When
July 15, 2026
Who
Matthew Malgari
Dr. Sanjeev Bhojraj
Nathan Przybylo
Q2 2026 STRATEGY PERFORMANCE:
L2’s Large Cap Core strategy rose 16.76% net in the quarter while the benchmark Russell 1000 ETF rose 15.08%. This quarter saw us make up much of the ground lost to the benchmark in Q1. Almost all of the excess return came from stock selection. Inception to date, we have regained a healthy lead on the benchmark (66.88% vs. 60.45%).
Outperformance this quarter was driven by the strategy’s high-conviction, differentiated holdings that sit well outside the benchmark’s mega-cap core. Micron was the standout, contributing significantly after gaining 240%, and a broad set of names built on that: Applied Materials, Cisco, Qualcomm, Morgan Stanley, Keysight, Qorvo, and BorgWarner all added meaningfully.