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Magellan Global Fund’s Q3 2025 Investor Letter

Magellan Asset Management, an investment management company, released the third quarter 2025 investor letter for “Magellan Global Fund”. 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 performance of more speculative companies in the risk-on environment. In addition, please check the fund’s top five holdings...