Summary
- The Goldman Sachs Large Cap Equity Fund outperformed its benchmark, the Russell 1000 Index (net), during the quarter.
 - Our position in energy equipment manufacturing and services company, GE Vernova Inc. (0.8%), was a top contributor to relative returns during the quarter.
 - We initiated a position in Capital One Financial Corporation (0.8%), a commercial banking service provider, during the quarter.
 
 
Market Overview
The S&P 500 Index increased by 10.94% (total return, in USD) in the second quarter of 2025, whereas the Russell 2000 Index increased by 8.50% (total return, in USD). Despite an initial selloff prompted by concern regarding new US
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