LongSMTCJun 2026
Semtech Corporation
Semtech is positioned as a beneficiary of the expanding AI infrastructure buildout as investor attention broadens beyond the largest semiconductor companies. Its Active Copper…
Nomura Smid Cap Core Fund
Fundamental US small- and mid-cap equity strategy seeking capital appreciation through companies with durable competitive advantages, strong management teams and attractive valuations.$396M AUM7 published ideas
Nomura Smid Cap Core Fund invests primarily in US small- and mid-cap equities and is benchmarked against the Russell 2500 Index. The team emphasizes fundamental stock selection and, entering Q3 2026, held notable overweights in business services, transportation, capital goods and technology. The commentary highlights AI infrastructure, reshoring, grid modernization and defense investment as multi-year secular drivers.
Ideas from Nomura Smid Cap Core Fund
LongKALUJun 2026
Kaiser Aluminum Corporation
Kaiser Aluminum is a beneficiary of improving industrial demand and the broader US manufacturing recovery. The fund sees the company's exposure to aerospace, automotive and…
LongINSMJun 2026
Insmed Incorporated
Insmed remains a long-term healthcare holding despite a sharp post-earnings decline. The fund continues to view the pipeline as compelling, including TPIP across multiple…
LongALABJun 2026
Astera Labs, Inc.
Astera Labs provides connectivity solutions for AI and cloud infrastructure and gives the fund exposure to the broader AI supply chain. The company benefited as hyperscalers…
LongCOHRJun 2026
Coherent Corp.
Coherent is positioned to benefit from the accelerating transition in data centers from copper interconnects toward optical solutions. The fund links the company's opportunity…
LongMTSIJun 2026
MACOM Technology Solutions Holdings, Inc.
MACOM is positioned at the intersection of optical connectivity and radio-frequency demand through its high-performance analog and mixed-signal semiconductor portfolio. The fund…
LongLGNDJun 2026
Ligand Pharmaceuticals Incorporated
Ligand's royalty-driven business model is delivering strong earnings growth and is being broadened through the planned acquisition of XOMA Royalty Corporation. The transaction is…
Letters covered
- Nomura Smid Cap Core Fund Quarterly CommentaryJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.