- International Equity 2026 Third Quarter Report International Equity trimmed semiconductor exposure as AI-infrastructure valuations came under pressure, while initiating Teva Pharmaceutical Industries on its shift toward branded drugs and pipeline potential. The strategy favors Hitachi, Mitsubishi Heavy and Cameco for structural energy and infrastructure demand, while maintaining conviction in semiconductor and health-care holdings despite near-term weakness. 2026 Third Quarter 6501 $136BIFNNY $74BMHVIY $70B
One letter so far. We collect each new one as Hardman Johnston publishes it.
