Alluvium Global Fund posted a mixed second quarter, with gains in tech and staffing offset by a significant pullback in defense holdings like Lockheed Martin.
Lockheed Martin's Q2 share price fell 15.1% after mildly disappointing Q1 results and easing geopolitical tensions.
Alphabet benefited from strong Cloud growth during the quarter, contributing positively to fund performance.
Robert Half posted solid gains in the quarter, helping fund performance.
H&R Block posted solid gains in the quarter, contributing positively.
The Conventum – Alluvium Global Fund reported a 2.2% decline in USD terms for the second quarter of 2026. While Alphabet, Robert Half, and H&R Block provided positive contributions, the fund's performance was hampered by a 15.1% drop in Lockheed Martin shares amid easing geopolitical tensions and disappointing quarterly results.
The decline was driven by mildly disappointing first-quarter financial results and a reduction in geopolitical tensions, which tempered demand for defense-related equities.