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Legacy Ridge Capital Management’s Q4 2025 Investor Letter

Legacy Ridge Capital Management, an investment management company, released its Q4 2025 investor letter. The Partnership returned 7% net of a 1% performance fee in 2025. Market volatility led to the Partnership's weaker-than-expected performance last year. The year started strongly but faced challenges after Liberation Day, despite wisely investing during the market's lows. The Partnership showed progress from November to mid-December. The letter also noted that a shift in the calendar end date would have improved returns by over 4%, highlighting the unpredictable nature of concentrated...