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L2 Large Cap Growth – August Q2 2025
Table of contents
When
July 21, 2025
Who
Matthew Malgari
Dr. Sanjeev Bhojraj
Nathan Przybylo
Q2 2025 STRATEGY PERFORMANCE
The benchmark Russell 1000 Growth ETF rose 17.70%, while the strategy rose 16.89%1 net in the quarter. Our strategy’s preference for reasonably priced and quality-oriented growth means that our underperformance is expected in quarters where so much of the return came from so few stocks. Specifically, 93% of the benchmark’s return came from just the 20 largest contributors. Equally remarkable, in our view, a whopping 75% of the stocks in the benchmark underperformed.