Nomura Mid Cap Growth Fund on GlobalFoundries Inc.

GlobalFoundries gives the portfolio exposure to differentiated semiconductor manufacturing and the reshoring of critical supply chains. The company posted better-than-expected results, which the fund attributes to strong demand for its differentiated manufacturing capabilities and favorable positioning in reshoring trends. The fund expects domestic manufacturing expansion, infrastructure investment and critical supply-chain localization to remain attractive long-term themes. GlobalFoundries is therefore positioned at the intersection of semiconductor demand and the broader re-industrialization cycle.