Hardman Johnston Global Advisors, an investment management firm, issued its investor letter for the Hardman Johnston Large Cap Equity Strategy for the first quarter of 2026. A copy of the letter can be downloaded here. The strategy achieved a return of 0.68% (gross) and 0.57% (net) during this period, in contrast to a -4.33% return for the S&P 500 Total Return Index. Companies with robust backlogs of customer business were rewarded, while those with more economically sensitive clients faced underperformance. Looking beyond the immediate disruptions, the firm believes the overall outlook for the U.S. economy remains positive. Please review the Strategy's top five holdings to gain insights into their key selections for 2026.
In its first-quarter 2026 investor letter Hardman Johnston Large Cap Equity Strategy highlighted IQVIA Holdings Inc. (NYSE:IQV). IQVIA Holdings Inc. (NYSE:IQV) is a US-based provider of clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries. On July 1, 2026, IQVIA Holdings Inc. (NYSE:IQV) closed at $203.20 per share, reflecting a market capitalization of $33.91 billion. IQVIA Holdings Inc. (NYSE:IQV) posted a one-month return of 8.73%, and its shares gained 23.72% over the past 52 weeks.
Hardman Johnston Large Cap Equity Strategy stated the following regarding IQVIA Holdings Inc. (NYSE:IQV) in its Q1 2026 investor letter:
"Also detracting was IQVIA Holdings Inc. (NYSE:IQV). A critical partner to the biotech and pharmaceutical industries, the stock has been under pressure from both fears of AI disruption (they argue that it will help both them and their customers) and a turn-up in interest rates slowing spending for some of their smaller customers. While there may be something to the second point, we continue to think that the collection of capabilities and **** ets this company holds makes them a powerful player in their industry."
IQVIA Holdings Inc. (NYSE:IQV) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 64 hedge fund portfolios held IQVIA Holdings Inc. (NYSE:IQV) at the end of the first quarter, compared to 69 in the previous quarter. While we acknowledge the potential of IQVIA Holdings Inc. (NYSE:IQV) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.