Emerald Wealth Partners, an independent asset and wealth management firm based in Zurich, released its Q4 2025 investor letter for the “Growth Equity Strategy.” A copy of the letter is available to download here. In 2025, the strategy returned +3.1% (gross) and +3.0% (net), resulting in the year-to-date return of 16.7% (gross) and +16.0% (net). Discussions on a potential bubble in Artificial Intelligence (AI) markets were a significant feature of 2025, especially in Q4, contributing to a pullback in AI stocks as investors expressed fears of an upcoming downturn. President Trump’s erratic trade and foreign policies were another challenge faced by the market in 2025. In addition, you can check the Strategy’s top 5 holdings to determine its best picks for 2025.
In its fourth-quarter 2025 investor letter, Emerald Growth Equity Strategy stocks like highlighted Fortinet, Inc. (NASDAQ:FTNT). Fortinet, Inc. (NASDAQ:FTNT) is a leading provider of cybersecurity and convergence of networking and security solutions. On March 13, 2026, Fortinet, Inc. (NASDAQ:FTNT) stock closed at $83.44 per share. One-month return of Fortinet, Inc. (NASDAQ:FTNT) was -0.07%, and its shares lost 11.43% over the past 52 weeks. Fortinet, Inc. (NASDAQ:FTNT) has a market capitalization of $63.71 billion.
Emerald Growth Equity Strategy stated the following regarding Fortinet, Inc. (NASDAQ:FTNT) in its fourth quarter 2025 investor letter:
“After previously trimming Fortinet, Inc. (NASDAQ:FTNT) in Q2, we have now added back a portion of what we sold, following more than 40% underperformance since the reduction. While other IT security companies are more exposed to cloud or AI security, we see Fortinet positioned to benefit materially from secular tailwinds in cybersecurity and vendor consolidation. Its embedded presence with mid- and small-sized companies, combined with strong customer switching costs and growing network effects, supports continuous market share gains and client expansion. Valuation has shifted dramatically — what was once overvalued is now approximately 25% undervalued. The rapid swings in Fortinet’s stock, from optimism to pessimism, illustrate the market’s fickleness and the opportunities such volatility can create.”
Fortinet, Inc. (NASDAQ:FTNT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 50 hedge fund portfolios held Fortinet, Inc. (NASDAQ:FTNT) at the end of the fourth quarter, up from 44 in the previous quarter. While we acknowledge the risk and potential of Fortinet, Inc. (NASDAQ:FTNT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Fortinet, Inc. (NASDAQ:FTNT) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Fortinet, Inc. (NASDAQ:FTNT) and shared the list of best AI stocks to invest in according to billionaires. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
