Brown Advisory, an investment management company, released its “Brown Advisory Mid-Cap Growth Strategy” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Strategy lagged the Russell Midcap® Growth Index in the fourth quarter due to stock selection. The performance was in line with expectations for the full year. The firm believes that the Strategy underperformed in 2025 because it did not own Palantir Technologies Inc (PLTR). The Strategy focuses on achieving solid risk-adjusted returns by investing in high-quality compounders with fair valuations and market capitalizations between $2 billion and $50 billion at the time of purchase. Please review the Strategy’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, Brown Advisory Mid-Cap Growth Strategy highlighted stocks like Veeva Systems Inc. (NYSE:VEEV). Veeva Systems Inc. (NYSE:VEEV) is a technology company that provides a cloud-based software platform for the life sciences industry. On March 23, 2026, Veeva Systems Inc. (NYSE:VEEV) stock closed at $185.23 per share. One-month return of Veeva Systems Inc. (NYSE:VEEV) was 5.37%, and its shares lost 23.02% over the past 52 weeks. Veeva Systems Inc. (NYSE:VEEV) has a market capitalization of $30.45 billion.
Brown Advisory Mid-Cap Growth Strategy stated the following regarding Veeva Systems Inc. (NYSE:VEEV) in its fourth quarter 2025 investor letter:
“While we were content with full-year results, several small detractors held fourth-quarter performance back by about 1%-2% in total for company-specific reasons that we generally view as temporary. Shares ofVeeva Systems Inc. (NYSE:VEEV) took a hit in the fourth quarter after one top-20 CRM client defected to Salesforce.com. Nonetheless, we believe Veeva will retain approximately three quarters of the top-20 pharma companies as CRM clients and that a transition away from its partnership with Salesforce.com for a business that represents about one-fifth of its revenue will prove free cash flow neutral or accretive in a few years.”
Veeva Systems Inc. (NYSE:VEEV) is not on our list of 40 Most Popular Stocks Among Hedge Funds. According to our database, 75 hedge fund portfolios held Veeva Systems Inc. (NYSE:VEEV) at the end of the fourth quarter, compared to 57 in the previous quarter. While we acknowledge the risk and potential of Veeva Systems Inc. (NYSE:VEEV) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Veeva Systems Inc. (NYSE:VEEV) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Veeva Systems Inc. (NYSE:VEEV) and shared TimesSquare Capital U.S. Focus Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
