Oakmark Funds, advised by Harris Associates, released its Q4 2025 “Oakmark Select Fund” investor letter. Oakmark Select Fund is a non-diversified fund that aims to generate capital appreciation by investing in large and mid-cap US companies. A copy of the letter can be downloaded here. For the quarter, the fund (investor class) outperformed the S&P…
Fundsmith, a London-based investment management company, has published its 2025 annual investor letter for its “Fundsmith Equity Fund.” A copy of the letter can be downloaded here. The fund focuses on investing in stocks globally. The T Class Accumification shares in which the company invested returned 0.8% in 2025, compared to 12.8% for the MSCI…
ClearBridge Investments, an investment management company, published its “ClearBridge Growth Strategy” investor letter for Q4 2025. A copy of the letter can be downloaded here. US stocks posted a strong but volatile performance in the fourth quarter, with the S&P 500 index returning 2.7%, while the benchmark Russell Midcap Growth index declined 3.7%. In this…
ClearBridge Investments, an investment management company, published its “ClearBridge Growth Strategy” investor letter for Q4 2025. A copy of the letter can be downloaded here. US stocks posted a strong but volatile performance in the fourth quarter, with the S&P 500 index returning 2.7%, while the benchmark Russell Midcap Growth index declined 3.7%. In this…
Artisan Partners, an investment management firm, published its Q3 2025 “Artisan Mid Cap Value Fund” investor letter. A copy of the letter can be downloaded here. For the quarter, the fund’s ARTQX Investor Class Fund returned 0.97%, the Advisor Class Fund APDQX returned 0.98%, and the Institutional Class Fund APHQX returned 0.97%, compared to a…
Alpha Wealth Funds, LLC, an investment management firm, released its Q3 2025 letter to the Insiders Fund. A copy of the letter can be downloaded here. The fund returned 4.96% in September, bringing the year-to-date return to 21.37%. This compares to the benchmark, the S&P 500’s September performance of 3.65% and year-to-date performance through September…
Bristol Gate Capital Partners, an investment management firm, published its Q3 2025 investor letter for the “US Equity Strategy.” A copy of the letter can be downloaded here. The strategy underperformed the benchmark, the S&P 500® Total Return Index, this quarter, but still outperformed the index in dividend growth. The underperformance was due to a…
Bailard Inc., an investment management firm, released its Q3 2025 investor letter on “Bailard Technology Strategy.” A copy of the letter can be downloaded here. The strategy generated 9.36% net of fees in the quarter compared to the S&P North American Technology Index’s 13.14% return, the Morningstar US Open End Technology Categories’ 11.64% return, and…
Contrarius Investment Management, an investment management firm, released its third quarter investor letter for the “Contrarius Global Equity Fund.” A copy of the letter can be downloaded here. The fund’s investor class returned 30.9% in the September quarter, compared with 7.3% for the MSCI World benchmark, including net income reinvested, and 5.5% for the Average…
Harbor Capital Appreciation Fund, an investment management company, released its Q3 2025 investor letter. A copy of it can be downloaded here. The Harbor Capital Appreciation Fund focuses primarily on investing in equity securities, targeting U.S. companies that have a market capitalization of at least $1 billion at the time of investment. US stocks delivered…
