Ashva Capital Management, an investment management company, released its Q3 2025 investor letter. A copy of the letter can be downloaded here. The portfolio returned 10.16% in Q3 2025, outpacing the S&P 500’s 7.79% price-only return. The gains have more than compensated for the first-quarter decline, making it ahead on a year-to-date basis. This quarter highlights the lasting strength of strategy: investing in high-quality companies, remaining fully invested, and allowing time to work in favor. In addition ...