Brown Brothers Harriman, an investment management company, released its Q2 2026 investor letter for the "BBH Select Mid Cap ETF". A copy of the letter can be downloaded here. In the quarter, the fund increased 9.7% on a total return basis compared to the Russell Midcap Index's 13.8% return. Artificial intelligence is a key factor influencing market performance, with high-valuation and high-beta companies consistently outperforming others. The portfolio saw gains from being overweight in technology and industrials but missed opportunities due to underweighting more cyclical stocks. At the end of Q2 2026, the Fund held positions in 27 companies, with 48% of **** ets concentrated in the top 10 holdings. The Fund's strategy focuses on companies priced below intrinsic value to ensure a margin of safety, rather than on whether valuations are high or low. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, BBH Select Series – Mid Cap ETF highlighted Entegris, Inc. (NASDAQ:ENTG). Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) provides materials and process solutions for the semiconductor and other high-technology industries. On August 19, 2026, Entegris, Inc. (NASDAQ:ENTG) closed at $144.28 per share, reflecting a market capitalization of $22.05 billion. Entegris, Inc. (NASDAQ:ENTG) posted a one‑month return of 6.64%, while its shares gained 75.76% over the past 52 weeks.
BBH Select Series – Mid Cap ETF stated the following regarding Entegris, Inc. (NASDAQ:ENTG) in its Q2 2026 investor letter:
"For the quarter, the Fund's largest positive contributors were Entegris, Inc. (NASDAQ:ENTG) and Arista Networks Inc. (Arista), both clear beneficiaries of the AI infrastructure buildout. Entegris returned 53.5% during the quarter, ending with a weight of 6.4%. Entegris is a key supplier to the semiconductor industry of essential filtration products, materials, and related delivery equipment that enables the high precision fabrication of semiconductor chips. Entegris reported strong first quarter 2026 results and provided second quarter guidance above consensus with accelerating growth in second and third quarter 2026. This matches an upgraded view of industry end markets, with wafer volumes now expected to grow mid- to-high-single digits for 2026 and fab construction to grow high-single digits, both of which were low-single digits expectations just last quarter. Relatively new CEO Dave Reeder indicated a focus on gross margins when he started, and that is evident from the substantial im provement in first quarter 2026 that is expected to continue over the year. Gross margin of 46.9% was significantly above guidance of 44.5-45.5% and increased 310 basis points (bps)1 from fourth quarter 2025. Lastly, Entegris now aims to bring net leverage to 3.0x by year end, driven by robust free cash flow of at least $450m."
#entg #select
In its Q2 2026 investor letter, BBH Select Series – Mid Cap ETF highlighted Entegris, Inc. (NASDAQ:ENTG). Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) provides materials and process solutions for the semiconductor and other high-technology industries. On August 19, 2026, Entegris, Inc. (NASDAQ:ENTG) closed at $144.28 per share, reflecting a market capitalization of $22.05 billion. Entegris, Inc. (NASDAQ:ENTG) posted a one‑month return of 6.64%, while its shares gained 75.76% over the past 52 weeks.
BBH Select Series – Mid Cap ETF stated the following regarding Entegris, Inc. (NASDAQ:ENTG) in its Q2 2026 investor letter:
"For the quarter, the Fund's largest positive contributors were Entegris, Inc. (NASDAQ:ENTG) and Arista Networks Inc. (Arista), both clear beneficiaries of the AI infrastructure buildout. Entegris returned 53.5% during the quarter, ending with a weight of 6.4%. Entegris is a key supplier to the semiconductor industry of essential filtration products, materials, and related delivery equipment that enables the high precision fabrication of semiconductor chips. Entegris reported strong first quarter 2026 results and provided second quarter guidance above consensus with accelerating growth in second and third quarter 2026. This matches an upgraded view of industry end markets, with wafer volumes now expected to grow mid- to-high-single digits for 2026 and fab construction to grow high-single digits, both of which were low-single digits expectations just last quarter. Relatively new CEO Dave Reeder indicated a focus on gross margins when he started, and that is evident from the substantial im provement in first quarter 2026 that is expected to continue over the year. Gross margin of 46.9% was significantly above guidance of 44.5-45.5% and increased 310 basis points (bps)1 from fourth quarter 2025. Lastly, Entegris now aims to bring net leverage to 3.0x by year end, driven by robust free cash flow of at least $450m."
#entg #select
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