Alluvium Asset Management, an asset management company, released its “Conventum – Alluvium Global Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. It appears that the market continues to rise on news of new tariff deals. In the quarter, the Fund was up 8.5% in USD terms, 3.1% in AUD terms, but down 0.1% in EUR terms. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its second-quarter 2025 investor letter, Conventum – Alluvium Global Fund highlighted stocks such as Robert Half Inc. (NYSE:RHI). Robert Half Inc. (NYSE:RHI) is a talent solutions and business consulting services provider. The one-month return of Robert Half Inc. (NYSE:RHI) was 5.60%, and its shares lost 40.45% of their value over the last 52 weeks. On August 29, 2025, Robert Half Inc. (NYSE:RHI) stock closed at $37.32 per share, with a market capitalization of $3.797 billion.
Conventum – Alluvium Global Fund stated the following regarding Robert Half Inc. (NYSE:RHI) in its second quarter 2025 investor letter:
"Robert Half Inc. (NYSE:RHI), the recruitment and out placement specialist, was a small position at the start of the quarter. Despite us buying a little more, after falling 23.8% it is an even smaller position now (2.1%). There’s not much we can elaborate on from last quarter’s report. All we can do is point to what appears to be a dichotomy. Whereas the general price levels of equities does not seem to imply too much of a deterioration in economic conditions, Robert Half's share price seems to imply a prolonged downturn. Our valuation, which we think is conservative, is based on a level of maintainable earnings not much higher than its average over an extended period of 10 years. And it trades at a 27% discount to it. Despite that, we fully recognise we may be missing something, and we anxiously await an imminent update as we write this."
Robert Half Inc. (NYSE:RHI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Robert Half Inc. (NYSE:RHI) at the end of the second quarter, which was 27 in the previous quarter. In the second quarter of 2025, Robert Half Inc. (NYSE:RHI) reported enterprise revenue of $1.37 billion, which was 7% down from Q2 2024. While we acknowledge the potential of Robert Half Inc. (NYSE:RHI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Robert Half Inc. (NYSE:RHI) and shared Conventum – Alluvium Global Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.