Bristlemoon Global Fund’s Thesis on ASML (ASML) is Paying Off

Core Insights - Bristlemoon Global Fund reported a return of -6.2% for Q4 2025, with a cumulative return of 11.9% since inception [1] - The fund's performance was influenced by market trends favoring perceived AI winners while undervalued stocks labeled as AI losers declined further [1] Company Highlights - ASML Holding N.V. (NASDAQ:ASML) is a key holding in the Bristlemoon Global Fund, with a one-month return of 17.10% and a 52-week gain of 75.13% [2] - As of January 9, 2026, ASML's stock closed at $1,273.88, with a market capitalization of $494.454 billion [2] - The fund emphasized ASML's monopoly position in the semiconductor industry during the AI boom, which contributed to its stock price increase from around €600 to over €900 within a quarter [3] Market Sentiment - Despite ASML's strong performance, it is not among the top 30 most popular stocks among hedge funds, with 82 hedge fund portfolios holding it at the end of Q3 2025, up from 78 in the previous quarter [4] - There is a belief that certain AI stocks may offer greater upside potential and less downside risk compared to ASML [4]