Longleaf Partners, managed by Southeastern Asset Management, released its Q3 2025 Small-Cap Fund investor letter. A copy of the letter can be downloaded here. The fund returned 2.03% in the third quarter, compared to 8.18% for the Russell 3000 and 12.39% for the Russell 2000. To learn more about the fund’s top picks in 2025, check out its top five holdings.
In its Q3 2025 investor letter, Longleaf Partners Small-Cap Fund highlighted stocks like Graham Holdings Company (NYSE:GHC). Graham Holdings Company (NYSE:GHC) is a diversified holding company. Graham Holdings Company (NYSE:GHC)’s monthly performance was 7.24% and its shares gained 17.07% of its value in the last 52 weeks. On December 1, 2025, shares of Graham Holdings Company (NYSE:GHC) closed at $1,108.03 per share, with a market capitalization of $4,834 million.
Longleaf Partners Small-Cap Fund stated the following regarding Graham Holdings Company (NYSE:GHC) in its Q3 2025 investor letter:
“Graham Holdings Company (NYSE:GHC) – Diversified conglomerate GHC continued its strong performance this year with another set of strong results that increased our value per share in the mid-single-digit percentage range. We don’t have much to add since our previous note and our Q/S Podcast with CEO Tim O’Shaughnessy earlier this year. “It is encouraging that broadcast television M&A has increased this year, which could provide GHC with a unique opportunity to grow and achieve its value per share in this important segment of its business.”
Graham Holdings Company (NYSE:GHC) isn’t on our list of the 30 most popular stocks among hedge funds. According to our database, Graham Holdings Company (NYSE:GHC) had 23 hedge fund portfolios at the end of the third quarter, up from 20 in the previous quarter. While we recognize the potential of Graham Holdings Company (NYSE:GHC) 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’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
In another article, we covered Graham Holdings Company (NYSE:GHC) and shared The London Company Small Cap Strategy’s views on the company. Also, see our Q3 2025 Letters to Hedge Fund Investors page for more letters to hedge fund investors and other leading investors.
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Disclosure: None. This article was originally published on Insider Monkey.