Brown Advisory released its second-quarter 2025 investor letter, showing underperformance compared to the Russell Midcap® Growth Index. The Volatility Index (VIX) spiked due to high tariff levels but subsided with tariff rollbacks and strong corporate earnings. Guidewire Software, Inc. (NYSE:GWRE) was highlighted in the letter, with a one-month return of 25.98% and a market cap of $22.049 billion. Brown Advisory exited its position in GWRE due to valuation and moderating insurance premium inflation. Despite GWRE’s growth, other AI stocks are seen as offering greater potential. Check out more investor letters for insights on hedge fund strategies.

Read more at Yahoo Finance: Brown Advisors Mid-Cap Growth Strategy Exited Guidewire (GWRE) on Valuation