Magellan Asset Management, an investment management company, released the third quarter 2025 investor letter for “Magellan Global Fund”. A copy of the letter can be downloaded here. The fund focuses on outstanding companies at attractive prices and, at the same time, leverages a deep understanding of the macroeconomic landscape to manage risk. As measured by the MSCI World Index in USD, the global equities rose 7.3% in the September quarter. The portfolio underperformed the index in the quarter due strong p ...

Core Insights - Polen Capital's "Polen International Growth Strategy" reported a return of -4.23% gross and -4.53% net of fees for Q3 2025, underperforming the MSCI ACWI (ex-USA) which gained 6.89% [1] - The strategy's concentrated quality investing approach did not yield expected results during the quarter [1] Company Performance - ASML Holding N.V. (NASDAQ:ASML) was highlighted as a key stock in the Polen International Growth Strategy, with a one-month return of 9.51% and a 52-week gain of 58.76% [2][3] - ASML's stock closed at $1,119.69 on December 08, 2025, with a market capitalization of $434.605 billion [2] Market Context - The performance of ASML was bolstered by investor optimism surrounding AI, as semiconductor capital equipment companies benefited from the demand for advanced chips essential for AI applications [3] - Concerns regarding a slowdown in the memory chip industry and Intel's performance diminished during the quarter, positively impacting semi-cap stocks [3] Hedge Fund Interest - ASML was held by 82 hedge fund portfolios at the end of Q3 2025, an increase from 78 in the previous quarter, indicating growing interest among institutional investors [4]

We came across a bullish thesis on ASML Holding N.V. on Rebound Capital’s Substack. In this article, we will summarize the bulls’ thesis on ASML. ASML Holding N.V.'s share was trading at $1060.00 as of November 28th. ASML’s trailing and forward P/E were 37.71 and 34.48 respectively according to Yahoo Finance. Photo by JESHOOTS.COM on Unsplash ASML Holding N.V. provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment sy ...

Group 1 - ASML Holding has been upgraded to a Buy rating by Arete analyst Jim Fontanelli, with a price target of €879, ahead of its FQ3 2025 earnings report [1][3] - For FQ2 2025, ASML reported total net sales of €7.7 billion, with net system sales of €5.6 billion, including €2.7 billion from EUV systems and €2.9 billion from non-EUV systems [2] - The company's net income for FQ2 2025 was €2.3 billion, representing 29.8% of total net sales, resulting in an EPS of €5.90 [2] Group 2 - ASML's net system bookings for the quarter totaled €5.5 billion, with €2.3 billion from EUV and €3.2 billion from non-EUV systems [3] - The company's backlog is robust at approximately €33 billion, indicating strong future demand [3] - ASML reported €7.2 billion in cash, cash equivalents, and short-term investments, and repurchased around €1.4 billion worth of shares as part of its share buyback program [3]