Advanced Micro Devices (AMD) Positions GPUs as Primary Alternative to Nvidia

Tributary Capital Management released its second-quarter 2026 investor letter for “Multi Cap Core Equity Strategy”. You can download a copy of the letter here. The Tributary Multi Cap Core’s equity allocation underperformed in Q2, returning +12.5% against +15.3% for the S&P 1500 and +15.4% for the Russell 3000. Information Technology was the main driver of the Multi Cap Core strategy’s -2.8% relative underperformance. Although the strategy’s tech holdings delivered a strong +23.0% gain, they lagged the S&P 1500 tech sector’s benchmark return of +32.3%. AI advancements are reshaping the investment landscape, with several beneficiaries in the portfolio exceeding sector returns. The Multi Cap Core Strategy’s diversified portfolio enables it to balance AI exposure with risk management. Additionally, reviewing the Fund’s top five holdings could help identify its best picks for 2026.

In its second-quarter 2026 investor letter, TCM Multi Cap Core Equity Strategy highlighted Advanced Micro Devices, Inc. (NASDAQ:AMD) as a new addition. Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company that designs and manufactures AI accelerators, microprocessors, and graphics processing units. On September 23, 2026, Advanced Micro Devices, Inc. (NASDAQ:AMD) closed at $614.61 per share, reflecting a market capitalization of $1.003 trillion. Over the past month, Advanced Micro Devices, Inc. (NASDAQ:AMD) returned 28.94%, while its shares are up 281.11%…