Brown Advisory Global Leaders Strategy Sold Intuit (INTU) on AI Substitution Concerns

Brown Advisory Global Leaders Strategy Sold Intuit (INTU) on AI Substitution Concerns Soumya Eswaran Tue, June 2, 2026 at 5:03 PM GMT+2 3 min read INTU MSTR Brown Advisory , an investment management company, released its “Brown Advisory Global Leaders Strategy” for the first quarter of 2026 investor letter. 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 stocks like Intuit Inc. (NASDAQ: INTU ). Intuit Inc.

(NASDAQ:INTU) is a financial software company offering products and services for financial management, payments, capital, compliance, and marketing.  On June 1, 2026, Intuit Inc. (NASDAQ:INTU) closed at $353.

76 per share. One-month return of Intuit Inc. (NASDAQ:INTU) was -20.

06%, and its shares lost 58. 36% over the past 52 weeks. Intuit Inc.

(NASDAQ:INTU) has a market capitalization of $87. 79 billion. Brown Advisory Global Leaders Strategy stated the following regarding Intuit Inc.

(NASDAQ:INTU) in its Q1 2026 investor letter: "We exited our position in Intuit Inc. (NASDAQ:INTU) in February. Over our holding period, Intuit tripled its free cash flow per share and achieved a compound annual growth rate of 14.

15% (in USD). We were originally attracted by the company’s position as the largest provider of consumer tax software in the United States and its leadership in accounting software solutions for small and mid-cap businesses (SMBs). Intuit’s tax and accounting software provides substantial value to consumers, entrepreneurs, and small businesses today— such as tax savings for consumers and improved cash flow for businesses.

" TD Cowen Expects Strong Q3 Performance from Intuit (INTU) Intuit Inc. (NASDAQ:INTU) is not on our list of  40 Most Popular Stocks Among Hedge Funds Heading Into 2026 . According to our database, 92 hedge fund portfolios held Intuit Inc.

(NASDAQ:INTU) at the end of the first quarter, compared to 91 in the previous quarter. In the third quarter of fiscal 2026, Intuit Inc. (NASDAQ:INTU) reported  revenue of $8.

6 billion, reflecting a 10% year-over-year growth. While we acknowledge the potential of Intuit Inc. (NASDAQ:INTU) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk.

If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . Story Continues In  another article , we covered Intuit Inc. (NASDAQ:INTU) and shared the list of most oversold S&P 500 stocks so far in 2026.

In addition, please check out our hedge fund investor letters Q1 2026  page for more investor letters from hedge funds and other leading investors. READ NEXT:  33 Stocks That Should Double in 3 Years  and  15 Stocks That Will Make You Rich in 10 Years . Disclosure: None.

This article is originally published at Insider Monkey .