Magellan Asset Management, an investment management company, published the Q3 2025 investor letter for the Magellan Global Fund. A copy of the letter can be downloaded here. The fund focuses on outstanding companies at attractive prices while leveraging a deep understanding of the macroeconomic landscape to manage risk. Measured by the MSCI World Index in…
Brown Capital Management, an investment management firm, published its Q3 2025 investor letter “The Brown Capital Management International All-Company Fund.” A copy of the letter can be downloaded here. In the third quarter, shares of the fund’s investors lost 4.46% versus a total return of 2.84% for the MSCI World ex-US Growth-Net Index. Year to…
Cooper Investors, an investment management firm, released its Q3 2025 investor letter “Cooper Investors Global Equities Fund (Unhedged).” A copy of the letter can be downloaded here. The fund returned -0.04% in the third quarter, compared to a return of 6.42% for the MSCI AC World Index Net Divs in Australian dollars. However, the fund…
Cullen Capital Management, LLC, doing business as Schafer Cullen Capital Management, Inc. (SCCM), has released its third quarter investor letter “SCCM Enhanced Equity Income Fund.” A copy of the letter can be downloaded here. US stocks continued to rise in the third quarter, with the S&P 500 returning 8.1% while the Russell 1000 Value rose…
Baron Funds, an investment management company, published its Q3 2025 “Baron Fifth Avenue Growth Fund” investor letter. A copy of the letter can be downloaded here. In Q3 2025, the fund gained 5.7% (institutional stocks) compared to the Russell 1000 Growth Index’s (R1KG) gain of 10.5% and the S&P 500 Index’s (SPX) return of 8.1%….
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,…
Meridian Funds, managed by ArrowMark Partners, released its Q3 2025 investor letter for the “Meridian Small Cap Growth Fund.” A copy of the letter can be downloaded here. Buoyed by continued gains in technology and falling bond yields, stocks hit record highs in the quarter. US small-cap stocks outperformed in the quarter, gaining 12.4%, while…
Sands Capital, an investment management company, published its “Sands Capital Select Growth Strategy” investor letter for the third quarter of 2025. A copy of the letter can be downloaded here. US large-cap growth stocks continued to recover from a sharp sell-off in early April. Strong corporate earnings, investor enthusiasm around artificial intelligence (AI), and rising…
Investment management firm First Pacific Advisors recently released its Q3 2025 investor letter “FPA Queens Road Small Cap Value Fund.” A copy of the letter can be downloaded here. In the third quarter, the fund returned 7.46%, compared to 12.60% for the Russell 2000 Value Index. In the first three quarters of 2025, the Fund…
Cullen Capital Management, LLC, doing business as Schafer Cullen Capital Management, Inc. (SCCM), has released its third quarter investor letter “SCCM Small Cap Value Equity Strategy.” A copy of the letter can be downloaded here. The US stock market continued its recovery in the third quarter, with the Russell 2000 returning 12.4% and the Russell…
