Brown Advisory’s “Global Leaders Strategy” investor letter for Q2 2025 focused on delivering strong performance by investing in companies solving customer problems. The strategy outperformed its benchmark, driven by investments in IT and Industrials, with top holdings including Illumina, Inc. (NASDAQ: ILMN) with a market cap of $15.793 billion.

The investor letter highlighted Illumina, Inc. (NASDAQ: ILMN) as a leading supplier of genetic analysis solutions, with a 3.10% one-month return and a 21.02% loss in the past 52 weeks. Brown Advisory exited its position in ILMN due to regulatory changes and competitive risks, despite recognizing its potential.

Despite being excluded from the list of “30 Most Popular Stocks Among Hedge Funds,” Illumina, Inc. (NASDAQ: ILMN) was held by 54 hedge fund portfolios in Q2 2025. The company generated $1.06 billion in revenue, meeting guidance despite a 3% decline from the previous year. Brown Advisory sees potential in AI stocks with greater upside and lower risk than ILMN.

Read more at Yahoo Finance: Brown Advisory Global Leaders Strategy Exited Illumina (ILMN) in Q2. Here’s Why