Core Insights - Tapasya Fund achieved a net return of 23.5% in 2025, outperforming the S&P 500's return of 17.9% [1] - The fund celebrated its third anniversary in August 2025 and noted significant market fluctuations due to tariffs and the impact of Artificial Intelligence (AI) [1] - The fund aims to mitigate sector-specific risks to protect its portfolio from broader market downturns [1] Company Highlights - Interactive Brokers Group, Inc. (NASDAQ:IBKR) had a one-month return of 9.37% and a 52-week gain of 51.53% [2] - As of January 8, 2026, Interactive Brokers' stock closed at $70.16 per share, with a market capitalization of $119.268 billion [2] - Interactive Brokers has become a core holding for Tapasya Fund, ranking among its top 10 positions due to favorable market conditions [3] Market Context - The year 2025 was marked by a significant market correction in April, followed by a strong rebound, with AI contributing to market stability [1] - Despite the strong performance of Interactive Brokers, the fund suggests that certain AI stocks may offer greater upside potential with less downside risk [4] - The number of hedge funds holding Interactive Brokers decreased from 71 to 68 in the third quarter, indicating a slight decline in popularity among institutional investors [4]

Core Insights - The excitement surrounding forward stock splits in high-profile companies has significantly contributed to the S&P 500's performance in 2025, alongside the trend of artificial intelligence [1][2] Group 1: Stock Split Dynamics - A stock split allows companies to adjust their share price and outstanding share count without affecting market capitalization or operating performance [2] - Investors typically favor companies that announce forward splits, as these are perceived to make shares more affordable for retail investors [4] - Companies completing forward splits often demonstrate superior innovation and execution compared to their competitors [4] Group 2: Company Performances - O'Reilly Automotive has seen a 36% year-to-date increase, driven by a 15-for-1 forward split and strong demand for auto parts due to the aging vehicle population [5][6][7] - Fastenal's shares are up 32% year-to-date, benefiting from its corporate culture of frequent stock splits and strong ties to contract sales, which account for over 73% of its net revenue [11][14] - Interactive Brokers Group has outperformed with a 44% year-to-date increase, supported by a favorable stock market environment and significant investments in technology that enhance customer offerings [17][18][19][20]