Overview
- Its Q1 2026 investor letter, published Monday, reported a 6.0% decline that trailed the MSCI All Country World Index’s 3.1% drop.
- Broyhill said stocks slid after strikes on Iran and that its heavy noncyclical exposure, lack of energy holdings, and large overseas stake hurt results.
- IQVIA was the largest detractor, yet Broyhill said business trends remain sound and that investor anxiety over artificial intelligence explains the slide.
- The firm argued large drugmakers still rely on IQVIA’s clinical‑trial systems and proprietary data and said no chatbot will short‑circuit FDA approval rules.
- IQVIA closed at $169.12 on May 15 with a one‑month loss of 4.32% and 52‑week gain of 17.82%, while hedge‑fund holders rose to 69 portfolios in Q4 from 61.