Greystone Capital Administration, an funding administration firm, launched its fourth-quarter 2025 investor letter. A replica of the letter will be downloaded right here. Within the fourth quarter, the Median Account return for separate accounts managed by the agency was +0.3%, internet of charges brining the total 12 months internet returns to +2.8%. The Fund has returned a cumulative +197.7% or +21.9% per 12 months, internet of charges, since inception in This fall 2019. When in comparison with the S&P 500 and Russell 2000 returns, the outcomes for the fourth quarter and the total 12 months of 2025 have been disappointing, which stood at +2.7% and +2.2%, respectively, for the quarter, and +17.4% and +13.5%, respectively, for 2025. Whereas fourth-quarter and full-year 2025 outcomes lagged behind indices, the agency maintains a long-term method, not specializing in single quarters or calendar years. The concentrated, differentiated technique results in anticipated divergence from main indices, with monitoring error seen as a characteristic relatively than a flaw. The agency cited poor inventory choice, sturdy performers in 2024 dealing with valuation compression, and a scarcity of AI-themed investments as causes for its underperformance in 2025. As well as, you’ll be able to examine the Fund’s high 5 holdings to search out out its finest picks for 2025.
In its fourth-quarter 2025 investor letter, Greystone Capital Administration highlighted APi Group Company (NYSE:APG). APi Group Company (NYSE:APG) is a security and specialty companies supplier. The one-month return of APi Group Company (NYSE:APG) was 9.57%, and its shares gained 64.69% of their worth during the last 52 weeks. On January 28, 2026, APi Group Company (NYSE:APG) inventory closed at $41.92 per share, with a market capitalization of $18.073 billion.
Greystone Capital Administration acknowledged the next concerning APi Group Company (NYSE:APG) in its fourth quarter 2025 investor letter:
“APi Group Company (NYSE:APG) continues to execute as a gradual, high-quality enterprise working in mission-critical hearth and life-safety companies. 2025 was one other sturdy 12 months, characterised by mid-single-digit natural progress, disciplined pricing, increasing margins, and strong money era. Finish-market demand stays wholesome, and APG continues to shift the income combine towards recurring inspection, monitoring, and repair work, which carries larger margins, decrease working capital depth, and powerful buyer stickiness. APG stays probably the most economically resilient fashions we personal with recurring income, essential infrastructure publicity, and 0 technological displacement danger.
