Polen Capital, an investment management firm, released its Q4 investor letter on the “Polen 5Perspectives Small Growth Strategy.” A copy of the letter can be downloaded here. The Polen 5Perspectives Small Growth Composite Portfolio returned -1.3% gross and -1.5% net of fees in Q4 2025, compared to a 1.2% return for the Russell 2000 Growth…
Meridian Funds, managed by ArrowMark Partners, released its Q4 2025 investor letter for the “Meridian Small Cap Growth Fund.” A copy of the letter can be downloaded here. U.S. stock markets navigated a quarter supported by optimism about possible monetary easing and caution over economic growth and valuations. The initial gains were driven by strong…
Conestoga Capital Advisors, an asset management firm, released its Q4 2025 investor letter. A copy of the letter can be downloaded here. In Q4 2025, Conestoga Capital Advisors’ Mid Cap strategy returned -5.75% net of fees, compared to the -3.70% return for the Russell Midcap Growth Index. The underperformance was due to negative stock selection…
Impax Asset Management’s “Impax US Sustainable Economy Fund” published its Q4 2025 investor letter. A copy of the letter can be downloaded here. The fund reported that equity markets remained volatile during the quarter amid concerns about elevated valuations and financing for large-scale data center investments, although the portfolio modestly outperformed the benchmark Russell 1000…
Sound Shore Management, an investment management firm, has released its letter to investors for the fourth quarter of 2025. You can download a copy of the report here. In Q4 2025, the Sound Shore Fund Investor Class (SSHFX) and Institutional Class (SSHVX) advanced 7.83% and 7.87%, respectively, compared to the S&P 500’s return of 2.66%…
Aristotle Capital Boston, LLC, an investment advisor, released its fourth quarter investor letter for the Small Cap Equity Fund. A copy of the letter can be downloaded here. US small cap stocks posted modest gains in the fourth quarter of 2025. The quarter began as a continuation of the risk-on environment in the post-Liberation Day…
Wasatch Global Investors, an asset management firm, published its “Small Cap Growth Strategy” investor letter for Q4 2025. A copy of the letter can be found downloaded here. The Wasatch Small Cap Growth Strategy experienced a challenging fourth quarter as small-cap stocks lagged broader market indices, reflecting investor caution and a continued preference for larger,…
Praetorian Capital, an investment management firm, published its Q4 2025 investor letter. A copy of the letter can be downloaded here. The Fund appreciated 0.21% net of fees in the fourth quarter, bringing its profitability for 2025 to 12.39% net of fees. The Fund has compounded capital at a net annualized rate of 37.12% since…
Baron Fund, an investment management firm, released its Q4 2025 charter for the “Baron Durable Advantage Fund.” A copy of the letter can be downloaded here. The Fund returned 2.6% in the fourth quarter, mirroring the 2.7% return of the S&P 500 Index. The Fund returned 16.6% in 2025, compared with 17.9% for the index…
Third Point Management, a New York-based investment advisor, released its Q4 2025 investor letter. A copy of the letter can be downloaded here. Third Point posted a 1.9% net return on the flagship offshore fund in Q4 2025. The same trends that drove markets higher in Q4 2025 have extended into early 2026. In a…
