Harbor Funds, an investment management firm, released its Q3 2025 investor letter for the “Harbor Mid Cap Fund.” A copy of the letter can be downloaded here. The Harbor Mid Cap Fund primarily focuses on investing in equity securities, focusing on common and preferred stocks of mid-sized U.S. companies. Global stocks rallied strongly in the…
Minot Light Capital Partners, an investment management firm, released its investment letter for the third quarter of 2025. A copy of the letter can be downloaded here. In the quarter, Minot Light generated strong returns for limited partners, netting 7.6%. However, on a net basis, it underperformed benchmarks, particularly the microcap benchmark’s 17.1% return. Plus,…
TCW Funds, an investment management company, released its Q3 2025 investor letter “TCW Concentrated Large Cap Growth Fund.” A copy of the letter can be downloaded here. Stock markets continued their recovery in the third quarter, driven by continued optimism around AI investments and positive corporate results. In this context, the fund (which I share)…
Loomis Saylesan investment management firm, published its Q3 2025 “Small Cap Value Fund” investor letter. A copy of the letter can be downloaded here. U.S. stocks delivered strong results in the third quarter, driven primarily by easing tariff concerns, a pro-growth budget passed by the U.S. Congress, and anticipation of further rate cuts by the…
Janus Henderson Investors, an investment management firm, released its Q3 2025 investor letter for its “Janus Henderson Global Technology and Innovation Fund.” A copy of the letter can be downloaded here. The technology sector generated strong results in the quarter, driven by the semiconductor complex and hardware manufacturers, which outperformed stocks overall. The fund returned…
Aoris Investment Management, a specialized international equity manager, published its “Aoris International Fund” investor letter for the third quarter of 2025. A copy of the letter can be downloaded here. Global equity markets, represented by the MSCI AC World Accumification Index ex Australia, rose 6.5% in AUD during the September quarter. In local currencies, gains…
Aoris Investment Management, a specialized international equity manager, published its “Aoris International Fund” investor letter for the third quarter of 2025. A copy of the letter can be downloaded here. Global equity markets, represented by the MSCI AC World Accumification Index excluding Australia, rose 6.5% in AUD during the September quarter. In local currencies, gains…
Platinum Asset Management, an investment management firm, released its Q3 2025 investor letter for the “Platinum International Technology Fund.” A copy of the letter can be downloaded here. The fund rose 6% in the third quarter, driven by strong performance in AI-oriented holdings. The portfolio owns around 30% of its stake in AI infrastructure stocks…
Wasatch Global Investors, an asset management company, published its Q3 2025 “Wasatch Micro-Cap Fund” investor letter. A copy of the letter can be downloaded here. Microcap stocks posted strong results in the quarter, due to investors’ continued risk appetite. The Investor Class fund returned 9.52% for the quarter, but lagged the 19.93% return of the…
Riverwater Partners, an investment management firm, published its “Micro Opportunities Strategy” investor letter for Q3 2025. A copy of the letter can be downloaded here. The strategy posted solid absolute returns in the quarter, but lagged the benchmark as it failed to keep pace with the strong rally. The strategy continues to focus on quality…
