Greystone Capital Administration, an funding administration firm, launched its fourth-quarter 2025 investor letter. A duplicate of the letter might be downloaded right here. Within the fourth quarter, the Median Account return for separate accounts managed by the agency was +0.3%, internet of charges brining the total yr internet returns to +2.8%. The Fund has returned a cumulative +197.7% or +21.9% per yr, internet of charges, since inception in This fall 2019. When in comparison with the S&P 500 and Russell 2000 returns, the outcomes for the fourth quarter and the total yr of 2025 had been disappointing, which stood at +2.7% and +2.2%, respectively, for the quarter, and +17.4% and +13.5%, respectively, for 2025. Whereas fourth-quarter and full-year 2025 outcomes lagged behind indices, the agency maintains a long-term method, not specializing in single quarters or calendar years. The concentrated, differentiated technique results in anticipated divergence from main indices, with monitoring error seen as a characteristic fairly than a flaw. The agency cited poor inventory choice, sturdy performers in 2024 dealing with valuation compression, and an absence of AI-themed investments as causes for its underperformance in 2025. As well as, you’ll be able to verify the Fund’s prime 5 holdings to seek out out its finest picks for 2025.
In its fourth-quarter 2025 investor letter, Greystone Capital Administration highlighted APi Group Company (NYSE:APG). APi Group Company (NYSE:APG) is a security and specialty providers supplier. The one-month return of APi Group Company (NYSE:APG) was 9.57%, and its shares gained 64.69% of their worth over the past 52 weeks. On January 28, 2026, APi Group Company (NYSE:APG) inventory closed at $41.92 per share, with a market capitalization of $18.073 billion.
Greystone Capital Administration acknowledged the next relating to APi Group Company (NYSE:APG) in its fourth quarter 2025 investor letter:
“APi Group Company (NYSE:APG) continues to execute as a gradual, high-quality enterprise working in mission-critical fireplace and life-safety providers. 2025 was one other sturdy yr, characterised by mid-single-digit natural development, disciplined pricing, increasing margins, and strong money era. Finish-market demand stays wholesome, and APG continues to shift the income combine towards recurring inspection, monitoring, and repair work, which carries greater margins, decrease working capital depth, and powerful buyer stickiness. APG stays one of the economically resilient fashions we personal with recurring income, crucial infrastructure publicity, and nil technological displacement threat.
