Laughing Water Capital, an investment management company, released its third-quarter 2025 investor letter. In the third quarter of 2025, Laughing Water Capital declined approximately -1% net of all expenses, bringing year-to-date returns to approximately -2.7%. The SP500TR and R2000 returned 12.4% and 8.1% respectively, in the quarter, and 14.8% and 10.4%, respectively, for YTD. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.
A copy of Laughing Water Capital’s Q3 2025 investor letter can be downloaded here.Create a free account, or log in to read the full article
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