“AI Loser” Narrative Pressured Workday (WDAY) in Q1
Key takeaways
- The strategy focused on delivering strong long-term performance by investing in a focused portfolio of companies that solve customer problems and provide good returns for shareholders.
- In its first-quarter 2026 investor letter, Brown Advisory Global Leaders Strategy highlighted Workday, Inc.
- Brown Advisory Global Leaders Strategy stated the following regarding Workday, Inc.
A copy of the letter can be downloaded here. The strategy focused on delivering strong long-term performance by investing in a focused portfolio of companies that solve customer problems and provide good returns for shareholders. The first quarter of 2026 saw intensified challenges in capital markets, marked by a general weakness in risk assets and negative perceptions around the "AI loser" narrative, significantly impacting the portfolio’s concentrated holdings. Additionally, not being invested in the Energy sector contributed to the underperformance, accounting for about 20% of the Strategy s relative decline year-to-date. Overall, the Strategy experienced an absolute correction of about 8.3% in the quarter, underperforming relative to the MSCI ACWI Net Return Index’s -3.2% return. In addition, please check the fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Brown Advisory Global Leaders Strategy highlighted Workday, Inc. (NASDAQ:WDAY). Workday, Inc. (NASDAQ:WDAY) is a leading enterprise software company that provides cloud applications for human resources and financial management. On June 2, 2026, Workday, Inc. (NASDAQ:WDAY) closed at $148.88 per share. One-month return of Workday, Inc. (NASDAQ:WDAY) was 21.41%, and its shares gained 40.32% over the past 52 weeks. Workday, Inc. (NASDAQ:WDAY) has a market capitalization of $36.77 billion.
Brown Advisory Global Leaders Strategy stated the following regarding Workday, Inc. (NASDAQ:WDAY) in its Q1 2026 investor letter: