Core Insights - Magellan Global Fund focuses on investing in outstanding companies at attractive prices while managing risk through a deep understanding of the macroeconomic landscape [1] - In Q3 2025, global equities rose by 7.3% as measured by the MSCI World Index in USD, but the fund underperformed due to strong performance from more speculative companies [1] Company Highlights - CME Group Inc. (NASDAQ:CME) is highlighted as a core defensive holding within the Magellan Global Fund, operating as the world's leading derivatives marketplace [3] - CME Group Inc. reported a revenue of $1.5 billion in Q3 2025, which represents a 3% decline from the previous year's strong performance [4] - The one-month return for CME Group Inc. was -2.54%, while its shares gained 15.34% over the last 52 weeks, closing at $272.18 per share with a market capitalization of $98.148 billion [2][4] Market Position - CME Group operates a diversified exchange business across major asset classes, including interest rates, equities, foreign exchange, and commodities, providing a natural hedge during market volatility [3] - At the end of Q3 2025, CME Group was held by 77 hedge fund portfolios, an increase from 75 in the previous quarter [4]

Core Insights - Cooper Investors Global Equities Fund reported a return of -0.04% for Q3 2025, underperforming the MSCI AC World Index Net Divs, which returned 6.42% in Australian Dollars. However, the fund achieved a rolling 12-month return of 18.0% post fees, indicating a long-term positive performance despite short-term fluctuations [1]. Fund Performance - The fund's structure is primarily not correlated with the index, suggesting that its returns are expected to diverge from index movements [1]. - The fund's top five holdings are highlighted as key investment picks for 2025, although specific details on these holdings are not provided in the summary [1]. CME Group Inc. Insights - CME Group Inc. (NASDAQ:CME) is identified as a significant stock within the fund, operating as a leading financial exchange for futures and options trading [2]. - CME Group's one-month return was reported at -2.31%, while its shares increased by 14.43% over the past 52 weeks, closing at $270.87 on December 05, 2025, with a market capitalization of $97.676 billion [2]. - The CEO of CME Group, Terrence Duffy, emphasized the growing importance of risk management in light of escalating geopolitical and economic risks [3].