Matrix Asset Management Sold Fiserv (FISV) Following an Unexpected Earnings Miss

Matrix Asset Advisors, an asset management company, released its Q4 2025 investor letter. A copy of the letter can be downloaded here. The stock market hit a new all-time high in the fourth quarter of 2025, rising +2.66%. Three-quarter-point interest rate cuts from the Federal Reserve, strong corporate results, and ongoing AI momentum drove investor optimism. The S&P 500 Index recorded its third consecutive year of double-digit gains, returning +17.88% in 2025. Matrix’s equity portfolios returned double-dig ...