Goldman Sachs Mid Cap Value Fund Q1 2025 Commentary
Summary
- US equities corrected in Q1 2025 amid tariff, AI, and economic uncertainty, but labor market and inflation data signaled resilience.
- Our Mid Cap Value Fund underperformed its benchmark, with Consumer Staples and Utilities contributing positively, while IT and Consumer Discretionary detracted.
- We remain constructive on long-term holdings like BJ's Wholesale, Cencora, and Marvell, emphasizing quality balance sheets and strong management.
- Active management and bottom-up stock selection are critical in navigating volatility; we prioritize quality businesses for long-term outperformance.
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