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Soft Insurance Pricing Environment Hurt Ryan Specialty’s (RYAN) Performance

Cooper Investors, an investment management firm, released its fourth-quarter 2025 investor letter for “Cooper Investors Global Equities Fund (Unhedged)”. A copy of the letter can be downloaded here. The portfolio returned -3.3% in Q4 2025, bringing the yearly returns to 2.6%. Currency fluctuations of approximately 5% weighed on the yearly performance. The portfolio returned 14.2% on an annualized basis over the past three years, compared to the MSCI AC World Index’s annualized return of 21.3% for the same period. The firm focuses on a long-term horizon to provide a risk-adjusted...