Earnings Drag and Geopolitical Headwinds Weigh on Lockheed Martin’s (LMT) Performance

Conventum – Alluvium Global Fund released its second-quarter 2026 investor letter, which highlighted challenges facing the broader market despite an overall equity rally led by semiconductor companies. The fund itself posted mixed results, declining 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms during the period. While certain holdings such as Alphabet benefited from strong cloud growth, and others including Robert Half and H&R Block posted solid gains, cable businesses