Brasada Capital Management, an investment management company, released its Q3 2025 investor letter. A copy of the letter can be downloaded here. In the letter, the firm noted that the market entered the fourth quarter with equities near all-time highs and monetary policy easing. The firm also believes that this momentum could persist even though there are indications that a capital expenditure bubble exists. Further, the firm continues to invest selectively in companies with solid moats and cash flows, whil ...

Key Takeaways NVIDIA posts a 12-month net profit margin of 53%, highlighting strong AI-driven profitability.MU delivers a 22.9% net profit margin, supported by higher-than-industry sales and income growth.VRT records a 10.7% net profit margin as demand for digital infrastructure boosts performance.As the new year approaches, investors should look for companies that generate strong returns after all operating and non-operating expenses are paid. Therefore, it’s better to invest in a profitable business rathe ...

Brown Advisory, an investment management company, released its “Brown Advisory Large-Cap Growth Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The strategy returned -0.88% (net) during the third quarter, underperforming the benchmark, the Russell 1000 Growth Index. Even though the portfolio has significant exposure to AI, its underweight to the most speculative momentum-driven parts of the trade was a headwind to performance. In addition, please check the fund’s t ...

Core Insights - Sands Capital Select Growth Strategy reported a portfolio return of 6.3% in Q3 2025, underperforming the benchmark's 10.5% gain, driven by strong corporate earnings and AI enthusiasm [1] - NVIDIA Corporation (NASDAQ:NVDA) is highlighted as a key stock, with a one-month return of -12.93% but a 52-week gain of 33.19%, closing at $180.26 per share with a market cap of $4.381 trillion [2][3] Company Performance - NVIDIA's datacenter segment showed significant growth, accelerating from 64% year-over-year growth to 73%, with guidance suggesting further increase to 84%, despite a decline in China's contribution to revenue [3] - NVIDIA's partnership with OpenAI aims to deploy at least 10 gigawatts of systems for AI infrastructure, with the first phase expected to go live in 2026 [3] Market Position - NVIDIA ranks 5th among the 30 Most Popular Stocks Among Hedge Funds, with 235 hedge fund portfolios holding its stock at the end of Q2 2025, an increase from 212 in the previous quarter [4] - In Q2 2026, NVIDIA reported revenues of $46.7 billion, exceeding expectations, although there are suggestions that other AI stocks may offer greater upside potential with less downside risk [4]

Core Insights - Baron Technology Fund reported a 5.89% return in Q3 2025, underperforming the MSCI ACWI Information Technology Index (12.76%), Invesco QQQ Trust (8.94%), and the S&P 500 index (8.12%) [1] - The fund highlighted NVIDIA Corporation as a key stock, which has shown a 29.53% increase in value over the last 52 weeks, despite a slight decline of 0.09% in the last month [2] Company Analysis: NVIDIA Corporation - NVIDIA is a leader in AI infrastructure, with a strong portfolio in semiconductor accelerators, networking solutions, and software, capturing a dominant market position [3] - The company reported a 56% growth in total and data center revenue for the July 2025 quarter, indicating robust demand for its products [3] - NVIDIA has secured a 10 GW agreement with OpenAI, representing a significant total addressable market (TAM) of approximately $35 billion per GW, highlighting the potential for substantial future revenue [3] - Management anticipates $3 trillion to $4 trillion in AI infrastructure spending by the end of the decade, positioning NVIDIA to capture long-term value as AI investments accelerate [3]

Core Viewpoint - Hewlett Packard Enterprise Company (NYSE:HPE) is recognized as one of the best growth stocks under $25, with Wall Street showing optimism following the company's revenue performance in FQ3 2025 [1] Group 1: Analyst Ratings and Price Targets - On October 16, Citi analyst Asiya Merchant reiterated a Buy rating on HPE with a price target of $28, despite a recent drop in share price due to fiscal 2028 EPS guidance falling below market consensus [2] - Merchant noted that the EPS guidance aligns with Citi's expectations, indicating a conservative approach [2] Group 2: Business Segments and Growth Potential - The guidance reflects a conservative outlook for HPE's networking segment, which is expected to grow modestly but has significant potential for faster growth, particularly in data center switching [3] - The overall revenue mix of HPE is favorable, driven by increased contributions from networking, cloud, and AI, along with structural cost reductions and improved operating leverage [3] Group 3: Company Overview - HPE is an international edge-to-cloud company offering a range of services including cloud services, compute, high-performance computing & artificial intelligence, intelligent edge, software, and storage [4]

Core Insights - Advanced Micro Devices (AMD) has seen a 47% increase in stock value over the last month, but Nvidia (NVDA) is suggested as a more favorable investment option due to its superior revenue growth, higher profitability, and lower valuation compared to AMD [1][4] Company Performance Comparison - Nvidia's quarterly revenue growth stands at 55.6%, while AMD's is at 31.7% [6] - Over the last 12 months, Nvidia's revenue growth reached 71.6%, significantly outpacing AMD's 27.2% [6] - Nvidia demonstrates better profitability with a Last 12 Months (LTM) margin of 58.1% and a 3-year average margin of 51.0%, compared to AMD [6] Investment Strategy - Investing in a single stock is risky; a diversified strategy, such as the Trefis High Quality Portfolio, is recommended for better returns and minimized risk [3] - The Trefis HQ Portfolio has shown positive returns during market downturns, such as the 2008-09 financial crisis, indicating its effectiveness in turbulent times [3]

Core Insights - Nvidia has established itself as a leading player in the semiconductor industry, particularly in the AI sector, due to its advanced GPU architectures that support AI training and inference workloads across various industries [1] - The stock has experienced a significant increase of 30% this year and is up approximately 90% from its lows in April 2025 [1] Financial Performance - Nvidia is valued at $4.4 trillion with a revenue of $165 billion, currently trading at $180.03 [7] - The company has reported a revenue growth of 71.6% over the past 12 months, with an operating margin of 58.1% [7] - Nvidia's stock is trading at a P/E multiple of 50.7 and a P/EBIT multiple of 43.5 [7] Historical Stock Performance - Nvidia's stock saw a decline of 66.4% from a high of $33.38 on November 29, 2021, to $11.23 on October 14, 2022, while the S&P 500 experienced a peak-to-trough decline of 25.4% during the same period [8] - The stock fully regained its pre-crisis peak by May 25, 2023, and reached a high of $192.57 on October 9, 2025, currently trading at $180.03 [8] Risk and Recovery Analysis - Nvidia's stock has historically shown resilience, with a median return of 53.1% in the year following significant declines since 2010 [7] - The stock has underperformed compared to the S&P 500 during several economic downturns, evaluated based on the extent of decline and recovery speed [3]

Core Insights - The Polen Focus Growth Strategy reported a gross return of 3.34% and a net return of 3.14% for Q3 2025, underperforming the Russell 1000 Growth Index and the S&P 500 Index, which returned 10.51% and 8.12% respectively [1] Company Highlights - NVIDIA Corporation (NASDAQ:NVDA) was highlighted as a key stock, achieving a one-month return of 7.69% and a 52-week gain of 43.10%, with a closing stock price of $188.32 and a market capitalization of $4.585 trillion as of October 13, 2025 [2] - The Polen Focus Growth Strategy initiated positions in NVIDIA and Broadcom in early August 2025 after a 2.5-year absence, citing concerns over the cyclical nature of their business models and the difficulty in forecasting future earnings growth [3]

Core Insights - Chautauqua Capital Management's second quarter 2025 investor letter indicates a significant recovery in global equity markets after initial losses due to tariff announcements, with markets closing near all-time highs [1] - The Baird Chautauqua International Growth Fund underperformed its benchmark during this quarter [1] Company Performance - NVIDIA Corporation (NASDAQ:NVDA) reported a one-month return of 2.3% and a 52-week gain of 46.73%, closing at $178.19 per share with a market capitalization of $4.338 trillion on September 26, 2025 [2] - NVIDIA's first quarter results were solid, despite a write-down on China-specific datacenter products due to new export restrictions, with encouraging demand commentary outside of China [3] Market Position - NVIDIA is ranked 5th among the 30 most popular stocks among hedge funds, with 235 hedge fund portfolios holding its stock at the end of the second quarter, an increase from 212 in the previous quarter [4] - In the second quarter of fiscal 2026, NVIDIA reported revenues of $46.7 billion, exceeding expectations [4]