Matrix Asset Management’s Q4 2025 Investor Letter

Matrix Asset Advisors, an asset management company, released its Q4 2025 investor letter. The stock market hit a new all-time high in the fourth quarter of 2025, rising +2.66%. Three-quarter-point interest rate cuts from the Federal Reserve, strong corporate results, and ongoing AI momentum drove investor optimism. The S&P 500 Index recorded its third consecutive year of double-digit gains, returning +17.88% in 2025. Matrix’s equity portfolios returned double-digit gains in 2025 and positive results in the fourth quarter. Matrix’s Large Cap Value portfolio (LCV) returned 20% in 2025, outperforming the S&P 500 Index. Matrix’s fixed income returns, except long-term bonds, were slightly positive in the fourth quarter, and for the year, the returns were up in the mid to high single-digit range, depending on maturity. Entering 2026, the firm maintains a cautious, optimistic view on the economy and the market. Please review the Firm’s top five holdings to gain insights into their key selections for 2025.

A copy of Matrix Asset Management’s Q4 2025 investor letter can be downloaded here.