London Company Mid Cap portfolio rises 9.7% in Q2, lagging Russell Midcap's 13.8% gain

The London Company Mid Cap portfolio returned 9.7% (9.5% net) in the second quarter, underperforming the Russell Midcap Index which rose 13.8%. The market gains were driven mainly by momentum and high-beta stocks, with the top beta quintile returning over 44%. Key contributors included ENTG, benefiting from semiconductor demand and AI investments, while DPZ declined due to weaker sales amid tough consumer conditions. APPF presents ongoing growth potential through its software solutions, which currently represent a small portion of its revenue. This performance highlights the challenges and opportunities within mid-cap stocks amid varying market dynamics.