Thrivent Large Cap Value Fund Q1 2025 Commentary

2025-06-27 07:50:00 ET

Performance factors

Thrivent Large Cap Value Fund had positive stock selection this quarter in all sectors but Industrials and Communications Services. Positive stock selection was led by investments in Technology, Financials, and Consumer Discretionary. Technology benefited from owning International Business Machine Corp ( IBM ), Cisco ( CSCO ), Samsung Electronics ( SSNLF ) and Qualcomm ( QCOM ) while avoiding many of the expensive semiconductor and software companies. IBM has benefited from re-positioning its software and service offerings to take advantage of the digital and artificial intelligence technology trends that have emerged in tech while still being priced at a discount. In Financial, Bank of New York and Charles Schwab Corp ( SCHW ) operations improved while other areas of capital markets that were priced for a strong investment banking and initial public offering cycle did not meet high expectations. In Consumer Discretionary, Sony Group Corporations ( SONY ) and Yum China ( YUMC ) outperformed. Sony is starting to benefit from the long-term company transition to more of a gaming, music and entertainment company from predominately a game-console company. Industrials remains the largest area of poor stock selection. Although ground transportation and freight stocks continue drag on performance, last year’s strong performer Delta Air Lines ( DAL ) detracted from stock selection with a harsh reversal in the quarter on signs of weakening travel demand....

Read the full article on Seeking Alpha

For further details see: