Core Viewpoint - Munro Global Growth Fund reported a return of -0.7% in the fourth quarter of 2025, with long positions contributing positively while short positions, hedging, and currencies detracted from performance [1] Group 1: Fund Performance - The Fund's long positions were beneficial to its performance during the quarter [1] - Global equity markets performed well in 2025, with the S&P 500 increasing by 2.4% and the Nasdaq by 2.3% [1] - Europe and Japan were noted as strong contributors to market performance [1] Group 2: Alphabet Inc. Performance - Alphabet Inc. (NASDAQ:GOOG) was highlighted as the leading performer in the Fund's strategy for the quarter [2] - The stock closed at $336.31 per share on January 13, 2026, with a one-month return of 12.83% and a 52-week gain of 70.73% [2] - Alphabet Inc. has a market capitalization of $4.06 trillion [2] Group 3: Earnings and Outlook - Alphabet Inc.'s stock price surged following impressive third-quarter earnings, with search revenue growth exceeding consensus expectations [3] - The Cloud segment also performed better than expected, with a strong outlook driven by increasing demand for AI compute [3] - The company is considered undervalued on a sum-of-the-parts basis, with potential for AI leadership to enhance portfolio value [3]

Core Insights - Oakmark Equity and Income Fund aims to deliver returns while preserving and enhancing capital, with a portfolio allocation of 60.0% in equities, 38.5% in fixed income, and 1.5% in cash [1] - The Fund outperformed the 60% S&P 500 / 40% Bloomberg U.S. Aggregate Bond Index in both the quarter and since inception, with the equity portion gaining 5.08% compared to 2.66% for the S&P 500 Index [1] - The fixed income portfolio returned 1.35%, outperforming the Bloomberg U.S. Aggregate Bond Index's 1.10% gain [1] Company Performance - Alphabet Inc. (NASDAQ:GOOG) was highlighted as the leading performer in the Oakmark Equity and Income Fund's strategy for the quarter, with a stock price closing at $336.31 per share on January 14, 2026 [2] - Alphabet Inc. achieved a one-month return of 12.83% and a 52-week gain of 70.73%, with a market capitalization of $4.06 trillion [2] - The company was the top contributor during the quarter, driven by impressive third-quarter earnings and strong user engagement trends in search revenue [3] Revenue and Market Position - In the third quarter of 2025, Alphabet Inc. achieved its first-ever $100 billion in revenue, indicating significant growth [4] - The company is ranked 7th among the 30 Most Popular Stocks Among Hedge Funds, with 186 hedge fund portfolios holding its stock at the end of the third quarter, up from 178 in the previous quarter [4] - Despite its strong performance, there are opinions suggesting that certain AI stocks may offer greater upside potential and carry less downside risk compared to Alphabet Inc. [4]

Bristlemoon Capital, a global equities firm, released its “Bristlemoon Global Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund returned -6.2% in the December quarter and a 0.3% return in December. Since its inception, the fund has produced a cumulative return of 11.9%, net of fees.  In 2025, market trends intensified, with perceived AI winners rallying, while stocks considered "cheap" dropped even further if labeled as AI losers. In addition, please check the ...

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 influence of Artificial Intelligence (AI) [1] - The fund aims to mitigate sector-specific risks to protect its portfolio from broader market downturns [1] Company Highlights - Alphabet Inc. (NASDAQ:GOOG) was highlighted as a key investment in Tapasya Fund's portfolio, with a market capitalization of $3.936 trillion [2] - The stock closed at $326.01 per share on January 8, 2026, with a one-month return of 4.99% and a 52-week gain of 68.77% [2] - The fund believes that concerns regarding Alphabet's search business and AI initiatives were overblown, contributing to its status as the top-performing "Mag 7" stock in 2025 [3]

Core Insights - Impax US Sustainable Economy Fund underperformed the Russell 1000 in Q3 2025, returning 7.33% compared to the index's 7.99% due to a focus on lower-risk, high-quality factors [1] - The fund's top holdings include Alphabet Inc. (NASDAQ:GOOG), which has shown significant growth and innovation in AI-related services [2][3] Fund Performance - The portfolio's performance in Q3 2025 was impacted by a risk-on market environment favoring high-risk and high-momentum stocks [1] - The fund's Institutional Class returned 7.33% in Q3 2025, lagging behind the Russell 1000's return of 7.99% [1] Alphabet Inc. Insights - Alphabet Inc. (NASDAQ:GOOG) achieved its first-ever $100 billion in revenue in Q3 2025, marking a significant milestone [4] - The company experienced mid-teens revenue growth driven by AI services, strong financial results, and regulatory relief, with a notable backlog in cloud services [3] - Alphabet's stock closed at $314.55 on January 6, 2026, with a one-month return of -2.01% but a 52-week gain of 60.99% [2] Hedge Fund Interest - Alphabet Inc. (NASDAQ:GOOG) was held by 186 hedge fund portfolios at the end of Q3 2025, an increase from 178 in the previous quarter, indicating growing interest among institutional investors [4]

Right Tail Capital, an investment management company, released its fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. For 2025, the Right Tail portfolio increased by ~0.34% before fees, compared to a gain of around 17.8% for the S&P 500 and about 11.2% for the S&P 500 Equal Weight Index. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025. In its fourth-quarter 2025 investor letter, Right Tail Capital highlighted stocks such as Alphabet ...

Key Points Berkshire Hathaway already owns a huge stake in a top oil and gas outfit. It could easily buy more of it. Buffett was never a big fan of technology stocks, but Alphabet is proving to be a worthy exception. Digital Realty Trust is more of a recurring income investment than a growth holding. 10 stocks we like better than Occidental Petroleum › It's official. Warren Buffett is no longer the CEO of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). He stepped down from this role at the end o ...

Group 1 - SGA's U.S. Large Cap Growth Strategy reported a portfolio return of -1.3% (Gross) and -1.4% (Net) in Q3, underperforming the Russell 1000 Growth Index which returned 10.5% and the S&P 500 Index which returned 8.1% [1] - The investment objective of SGA is to focus on high-quality growth businesses expected to achieve consistent mid-teens earnings growth, stable revenue, and cash flow [1] - In Q3, lower-quality stocks and cyclical industries outperformed, negatively impacting SGA's investment style [1] Group 2 - Alphabet Inc. (NASDAQ:GOOG) was highlighted as a key stock in SGA's third-quarter investor letter, with a one-month return of -1.44% and a 52-week gain of 64.61% [2] - As of December 31, 2025, Alphabet's stock closed at $313.80 per share, with a market capitalization of $3.78 trillion [2] Group 3 - Alphabet Inc. contributed positively during the quarter, benefiting from a favorable outcome in a key antitrust case, which allowed the company to retain its core assets and business model [3] - The company reported strong Q2 results with 13% constant currency revenue growth, increased normalized margins, and accelerated paid click growth [3] - Notable growth in cloud backlog increased from 27% to 37%, with the number of cloud deals over $250 million doubling year-over-year [3] - Alphabet's leadership in AI, search, and cloud is translating into financial results, prompting management to increase the CapEx budget for further innovation [3] - Despite regulatory risks, Alphabet's diversified revenue streams and strategic investments position it well for continued growth, making it a compelling long-term investment [3]

Group 1 - Alphabet Inc. announced the acquisition of Intersect for $4.75 billion in cash, enhancing its capabilities in data center and energy infrastructure solutions [1] - The acquisition will enable faster generation capacity for data centers and includes the team from Intersect along with multiple gigawatts of energy and data center projects in development [2] - Intersect will operate separately under its own brand and will be led by Sheldon Kimber, while existing assets in Texas and California are not included in the deal [2] Group 2 - Wall Street analysts are optimistic about Alphabet Inc., with Ronald Josey from Citi reiterating a Buy rating and raising the price target from $343 to $350 [3] - Scott Devitt from Wedbush also reiterated a Buy rating and increased the price target from $320 to $350 [3] - Alphabet Inc. operates major segments including Google Services, Google Cloud, and Other Bets [3]

Core Insights - TCW Concentrated Large Cap Growth Fund reported a return of +4.11% in Q3 2025, underperforming the Russell 1000 Growth Index which returned +10.51% [1] - The fund's performance was influenced by optimism surrounding AI investments and positive corporate earnings [1] Company Highlights - Alphabet Inc. (NASDAQ:GOOG) was highlighted as a key holding, with a one-month return of -0.52% and a 52-week gain of 65.09% [2] - As of December 29, 2025, Alphabet Inc. had a stock price of $314.39 and a market capitalization of $3.795 trillion [2] Legal and Regulatory Developments - A U.S. District Court ruling found that Google violated Section 2 of the Sherman Act, but the company will not be required to sell Chrome or Android [3] - Google is prohibited from exclusive contracts for Search, Chrome, Assistant, or Gemini, but can still make payments to distribution partners for default placement [3] - The ruling is viewed positively as it was less severe than anticipated, and the company's fundamentals remain strong with over 2 billion users utilizing AI services monthly [3]