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10 hours ago
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Solésence Reports Second Quarter 2025 Financial Results
Strong commercial execution drove revenue growth of 56% to $20.4 million ROMEOVILLE, Ill., July 31, 2025 (GLOBE NEWSWIRE) -- Solésence, Inc. (Nasdaq: SLSN), a leader in scientifically-driven health care solutions across beauty and life science categories, today announced financial results for the second quarter ended June 30, 2025. Recent Highlights and Accomplishments Joined broad-market Russell 3000® and small-cap Russell 2000® Indexes Amended loan agreements to fuel growth initiatives 'During our seasonally highest-performing quarter, we're pleased with the effectiveness of our commercial execution and the consistent, on-time delivery of products to our partners,' said Jess Jankowski, President and Chief Executive Officer of Solésence. 'Innovation remains at the heart of our unique value proposition and is why leading brands continue to choose us. As the market continues to evolve, we are focused on equipping our partners with differentiated consumer products that enrich lives and promote well-being.' Second Quarter 2025 Financial Results Revenue for the second quarter increased 56% to a record $20.4 million, compared to $13.0 million for the same period in 2024. Gross profit in the second quarter was $5.9 million, compared to $3.7 million for the same period in 2024. Gross margin in the second quarter was 29%, similar to the second quarter in 2024. Net income for the second quarter was $2.7 million, which includes an Employee Retention Credit net receipt of approximately $1.2 million plus related interest, compared to a net income of $0.9 million for the same period in 2024. Second Quarter 2025 Operational Highlights Expanded debt facilities to support executing the Company's long-term growth initiatives. The new facility expands the Company's three loan agreements to a maximum borrowing capacity from $14.2 million to $23.0 million and extends the maturity date under each respective loan agreement from October 1, 2025 to April 30, 2027. Shipment volume increased 102% year-over-year. Production volume increased 127% year-over-year. 'Operationally, we improved gross margin sequentially from the first quarter, while ramping up production during our peak demand season,' said Kevin Cureton, Chief Operating Officer. 'We appreciate the committed efforts of our team that enabled us to deliver another record unit volume quarter. Now with additional borrowing capacity from our debt facilities that we amended in June, we have enhanced our financial flexibility to further invest in our future and scale for growth.' Conference Call Solésence will host its first quarter conference call on Thursday, July 31, 2025, at 4:00 p.m. CDT, 5:00 p.m. EDT, to discuss its financial results and provide a business and financial update. On the call will be Jess Jankowski, President and Chief Executive Officer, and Kevin Cureton, Chief Operating Officer. Webcast Link: Dial-In Link: To receive the dial-in number, as well as your personalized PIN, you must register at the above link. Once registered, you will also have the option to have the system dial-out to you once the conference call begins. If you forget your PIN prior to the conference call, you can simply re-register. The call may also be accessed through the Company's investor relations website, at Please join the conference call at least five minutes before prior to the start time. FINANCIAL RESULTS AND NON-GAAP INFORMATION Use of Non-GAAP Financial Information Solésence believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, Generally Accepted Accounting Principles ('GAAP') and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with GAAP. About Solésence, Inc. Solésence, Inc. (Nasdaq: SLSN), is a leader in scientifically-driven health care solutions across beauty and life science categories. With a mission to deliver joy through innovation, inclusivity and the science of beautiful skin, we have redefined mineral-based sun protection by maximizing transparency, effectiveness, aesthetics, and wearability — empowering individuals to embrace beauty on their own terms. Combining best-in-class skin health solutions with the celebration of self-care, we allow brands to deliver unique product claims and attributes by seamlessly integrating protection, prevention, and treatment technologies into daily use products. Learn more at Forward-Looking Statements This press release contains words such as 'expects,' 'shall,' 'will,' 'believes,' and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company's current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company's results of operations, performance, and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company's dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company's engineered materials, ingredients, and fully formulated products; the Company's manufacturing capacity and product mix flexibility in light of customer demand; the Company's limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company's dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company's Form 10-K filed March 31, 2025. In addition, the Company's forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties, or other contingencies. Media Contact: media@ Investor Relations Contact:investors@ SOLÉSENCE, INC CONSOLIDATED BALANCE SHEETS (Unaudited Consolidated Condensed) (in thousands except share and per share data) June 30, December 31, 2025 2024 ASSETS Current assets: Cash $ 4,108 $ 1,409 Trade accounts receivable 12,470 5,655 Allowance for credit losses (1,421 ) (786 ) Trade accounts receivable, net 11,049 4,869 Inventories, net 19,832 20,267 Prepaid expenses and other current assets 3,781 2,803 Total current assets 38,770 29,348 Equipment and leasehold improvements, net 13,559 12,734 Operating leases, right of use 7,627 7,917 Other assets, net - 3 Total assets $ 59,956 $ 50,002 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Line of credit, accounts receivable, related party $ 6,099 $ - Current portion of line of credit, inventory, related party 9,500 4,000 Current portion of debt, related parties 1,000 1,000 Current portion of operating lease obligations 1,231 1,260 Accounts payable 6,891 9,093 Current portion of deferred revenue 2,169 5,571 Accrued expenses 6,146 4,849 Total current liabilities 33,036 25,773 Long-term portion of operating lease obligations 8,482 9,037 Asset retirement obligations 250 246 Total long-term liabilities 8,732 9,283 Contingent liabilities Stockholders' equity: Preferred stock, $.01 par value, 24,088 shares authorized and no shares issued and outstanding - - Common stock, $.01 par value, 95,000,000 shares authorized; 70,481,945 and 70,103,279 shares issued and outstanding on June 30, 2025 and December 31, 2024, respectively 704 700 Additional paid-in capital 115,165 114,674 Accumulated deficit (97,681 ) (100,428 ) Total stockholders' equity 18,188 14,946 Total liabilities and shareholders' equity $ 59,956 $ 50,002 SOLÉSENCE, INC CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited Consolidated Condensed) (in thousands except share and per share data) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 (in thousands except share and per share data) Revenue: Product revenue $ 20,261 $ 12,923 $ 34,836 $ 22,694 Other revenue 98 123 148 220 Net revenue 20,359 13,046 34,984 22,914 Cost of revenue 14,482 9,306 25,725 15,594 Gross profit 5,877 3,740 9,259 7,320 Operating expense: Research and development expense 955 864 1,973 1,776 Selling, general and administrative expense 3,012 1,829 5,120 3,388 Income from operations 1,910 1,047 2,166 2,156 Interest income - Interest expense, net 87 191 263 409 Other income, net 1,234 - 1,234 - Income before provision for income taxes 3,057 856 3,137 1,747 Provision for income taxes 390 - 390 - Net income $ 2,667 $ 856 $ 2,747 $ 1,747 Net income per share-basic $ 0.04 $ 0.02 $ 0.04 $ 0.03 Weighted average number of basic shares outstanding 70,200,039 56,674,170 70,151,928 54,675,011 Net income per share-diluted $ 0.04 $ 0.01 $ 0.04 $ 0.03 Weighted average number of diluted shares outstanding 72,548,819 58,709,170 72,497,829 56,662,011 SOLÉSENCE, INC CONSOLIDATED STATEMENTS OF OPERATIONS - EXPANDED SCHEDULE (non-GAAP) (Unaudited Consolidated Condensed) (in thousands except share and per share data) Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 (in thousands except share and per share data) Revenue: Product revenue, net $ 20,261 $ 12,923 $ 34,836 $ 22,694 Other revenue 98 123 148 220 Net revenue 20,359 13,046 34,984 22,914 Operating expense: Cost of revenue detail: Depreciation 216 222 428 444 Non-Cash equity compensation 28 28 54 54 Other costs of revenue 14,238 9,056 25,243 15,096 Cost of revenue 14,482 9,306 25,725 15,594 Gross profit 5,877 3,740 9,259 7,320 Research and development expense detail: Depreciation 4 5 7 11 Non-Cash equity compensation 28 32 55 65 Other research and development expense 923 827 1,911 1,700 Research and development expense 955 864 1,973 1,776 Selling, general and administrative expense detail: Depreciation and amortization 5 7 11 14 Non-Cash equity compensation 64 97 138 198 Other selling, general and administrative expense 2,943 1,725 4,971 3,176 Selling, general and administrative expense 3,012 1,829 5,120 3,388 Income from operations 1,910 1,047 2,166 2,156 Interest expense, net 87 191 263 409 Other income, net 1,234 - 1,234 - Income before provision for income taxes 3,057 856 3,137 1,747 Provision for income taxes 390 - 390 - Net income $ 2,667 $ 856 $ 2,747 $ 1,747 Non-GAAP Disclosure (see note regarding Non-GAAP disclosures): Addback Interest, net 87 191 263 409 Addback Depreciation/Amortization 225 234 446 469 Addback Non-Cash Equity Compensation 120 157 247 317 Addback Provision for Income Taxes 390 390 - Adjusted EBITDA** $ 3,489 $ 1,438 $ 4,093 $ 2,942 **Includes $1,234 in other (cash) income from ERC in 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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17 hours ago
- Business
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Will Exact Sciences Corporation (EXAS) Continue to Penetrate the Market with Its Cologuard Test?
Baron Funds, an investment management company, released its 'Baron Health Care Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund declined 5.06% (Institutional Shares) in the quarter, against a challenging backdrop for the broader Health Care sector, compared to a 6.19% decline for the Russell 3000 Health Care Index (benchmark) and a 10.99% gain for the Russell 3000 Index (the Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Health Care Fund highlighted stocks such as Exact Sciences Corporation (NASDAQ:EXAS). Exact Sciences Corporation (NASDAQ:EXAS) provides cancer screening and diagnostic test products. The one-month return of Exact Sciences Corporation (NASDAQ:EXAS) was -12.29%, and its shares lost 19.18% of their value over the last 52 weeks. On July 30, 2025, Exact Sciences Corporation (NASDAQ:EXAS) stock closed at $46.80 per share, with a market capitalization of $8.828 billion. Baron Health Care Fund stated the following regarding Exact Sciences Corporation (NASDAQ:EXAS) in its second quarter 2025 investor letter: "We initiated a position in Exact Sciences Corporation (NASDAQ:EXAS), a molecular diagnostics company focused on the early detection of colorectal cancer. The company is best known for its non-invasive colorectal cancer stool tests, Cologuard and Cologuard Plus. 106 million adults in the U.S. are eligible for colorectal cancer screening, of which half are not up to date. Colonoscopies are the gold standard for colorectal cancer screening, but they are invasive and require significant preparation. In contrast, Cologuard is non-invasive and requires significantly less time commitment. Cologuard adoption is growing and the test now accounts for around 13% of colorectal cancer screening. We are increasingly hearing from doctors and patients that they are considering Cologuard ahead of colonoscopies. Shares underperformed in 2024 as adoption of Cologuard slowed, as investors anticipate competition from Guardant Health which launched a colorectal cancer blood test, and as investors feared a worst-case outcome from a Supreme Court case that potentially has implications for insurance coverage mandates for Cologuard. We think shares are well positioned to re-rate as each fear is dispelled: (1) we expect Exact Science's commercial restructuring to continue to drive volume growth reacceleration; (2) Guardant's blood test is less sensitive than Cologuard and we think blood tests will be relegated to patients who refuse more sensitive screening options; and (3) at the end of June, the Supreme Court issued its decision in the Braidwood case which preserved the insurance coverage mandate. We think Cologuard is a compelling option for colorectal cancer screening and Exact Sciences will continue to penetrate this market." A research team in a laboratory discussing the results of a lab screening test for biomarkers. Exact Sciences Corporation (NASDAQ:EXAS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Exact Sciences Corporation (NASDAQ:EXAS) at the end of the first quarter, which was 49 in the previous quarter. Exact Sciences Corporation's (NASDAQ:EXAS) first quarter revenue experienced 11% rise on reported and core basis exceeding the mid pint of guidance over $19 million. While we acknowledge the potential of Exact Sciences Corporation (NASDAQ:EXAS) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Exact Sciences Corporation (NASDAQ:EXAS) and shared the best mid cap pharma stocks to buy. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Business
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Baron Health Care Fund Reacquired Edwards Lifesciences Corporation (EW) in Q2. Here's Why
Baron Funds, an investment management company, released its 'Baron Health Care Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund declined 5.06% (Institutional Shares) in the quarter, against a challenging backdrop for the broader Health Care sector, compared to a 6.19% decline for the Russell 3000 Health Care Index (benchmark) and a 10.99% gain for the Russell 3000 Index (the Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Health Care Fund highlighted stocks such as Edwards Lifesciences Corporation (NYSE:EW). Edwards Lifesciences Corporation (NYSE:EW) offers products and technologies for structural heart disease and critical care monitoring. The one-month return of Edwards Lifesciences Corporation (NYSE:EW) was 5.69%, and its shares gained 31.20% of their value over the last 52 weeks. On July 30, 2025, Edwards Lifesciences Corporation (NYSE:EW) stock closed at $81.16 per share, with a market capitalization of $47.608 billion. Baron Health Care Fund stated the following regarding Edwards Lifesciences Corporation (NYSE:EW) in its second quarter 2025 investor letter: "We reacquired shares of Edwards Lifesciences Corporation (NYSE:EW), a leading manufacturer of heart valve replacement and repair products. Transcatheter aortic valve replacement (TAVR) is a minimally invasive procedure to treat aortic stenosis, a disease that obstructs the flow of blood out of the aortic valve, which strains the heart. Edwards Lifesciences has a leading position in the TAVR market backed by a robust body of clinical evidence and physician familiarity with the product and workflow. TAVR is a $5 billion market that still continues to grow many years after Edwards Lifesciences first entered the market. We expect this growth to continue at a moderate pace as indications expand to cover a broader patient population. In addition, competitor Boston Scientific Corporation recently exited the TAVR market, which provides incremental market share opportunity for Edwards Lifesciences. A skilled surgeon surrounded by a team of medical professionals performing a Transcatheter Heart Valve Replacement. Edwards Lifesciences Corporation (NYSE:EW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 63 hedge fund portfolios held Edwards Lifesciences Corporation (NYSE:EW) at the end of the first quarter, which was 67 in the previous quarter. Edwards Lifesciences Corporation (NYSE: EW) reported total sales of $1.53 billion in Q2 2025, reflecting a growth of 10.6%, which exceeded expectations. While we acknowledge the potential of Edwards Lifesciences Corporation (NYSE:EW) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we discussed Edwards Lifesciences Corporation (NYSE:EW) and shared Jim Cramer's latest thoughts. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
17 hours ago
- Business
- Yahoo
What Makes Masimo Corporation (MASI) a Good Investment?
Baron Funds, an investment management company, released its 'Baron Health Care Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund declined 5.06% (Institutional Shares) in the quarter, against a challenging backdrop for the broader Health Care sector, compared to a 6.19% decline for the Russell 3000 Health Care Index (benchmark) and a 10.99% gain for the Russell 3000 Index (the Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Health Care Fund highlighted stocks such as Masimo Corporation (NASDAQ:MASI). Incorporated in 1989, Masimo Corporation (NASDAQ:MASI) is a medical technology company that provides various patient monitoring technologies, automation, and connectivity solutions. The one-month return of Masimo Corporation (NASDAQ:MASI) was -6.89%, and its shares gained 45.36% of their value over the last 52 weeks. On July 30, 2025, Masimo Corporation (NASDAQ:MASI) stock closed at $156.02 per share, with a market capitalization of $8.459 billion. Baron Health Care Fund stated the following regarding Masimo Corporation (NASDAQ:MASI) in its second quarter 2025 investor letter: "We added to our position in Masimo Corporation (NASDAQ:MASI), a medical device company that manufactures non-invasive patient monitoring technologies, such as pulse oximetry for measuring blood oxygen levels of patients in the hospital. The company finalized the divestiture of its consumer audio business, which had been a distraction from their core health care business. The company plans to prioritize share repurchases with the proceeds from the sale. The trade war and tariff uncertainty has been an overhang, given Masimo manufactures products in Mexico, Malaysia, and China, but there is reason to be optimistic about de-escalation and trade deals. After meeting with new CEO Katie Szyman, we feel confident in her vision which is focused on achieving commercial excellence, bringing Masimo's AI technology to the hospital, and expanding the company's overall patient monitoring footprint within the hospital. We think the core health care business can continue to grow in the high single digits on the top line, and cost rationalization and disciplined spending should enable the company to more than double EPS within five years." A team of doctors and nurses in the operating room, utilizing a variety of Masimo's medical technology. Masimo Corporation (NASDAQ:MASI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Masimo Corporation (NASDAQ:MASI) at the end of the first quarter which was 35 in the previous quarter. While we acknowledge the potential of Masimo Corporation (NASDAQ:MASI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Masimo Corporation (NASDAQ:MASI) and shared Baron Health Care Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
17 hours ago
- Business
- Yahoo
Excellent Execution Drove IDEXX Laboratories (IDXX) Shares Amid Macro Challenges
Baron Funds, an investment management company, released its 'Baron Health Care Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund declined 5.06% (Institutional Shares) in the quarter, against a challenging backdrop for the broader Health Care sector, compared to a 6.19% decline for the Russell 3000 Health Care Index (benchmark) and a 10.99% gain for the Russell 3000 Index (the Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Health Care Fund highlighted stocks such as IDEXX Laboratories, Inc. (NASDAQ:IDXX). IDEXX Laboratories, Inc. (NASDAQ:IDXX) develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets. The one-month return of IDEXX Laboratories, Inc. (NASDAQ:IDXX) was 4.58%, and its shares gained 22.08% of their value over the last 52 weeks. On July 30, 2025, IDEXX Laboratories, Inc. (NASDAQ:IDXX) stock closed at $572.09 per share, with a market capitalization of $46.009 billion. Baron Health Care Fund stated the following regarding IDEXX Laboratories, Inc. (NASDAQ:IDXX) in its second quarter 2025 investor letter: "Shares of veterinary diagnostics leader IDEXX Laboratories, Inc. (NASDAQ:IDXX) contributed to performance for the quarter after reporting better than-expected financial results. Foot traffic to veterinary clinics in the U.S. remains under pressure, which has continued to hamper aggregate revenue growth. Despite macroeconomic challenges, IDEXX's excellent execution has enabled the company to maintain strong performance. We believe competitive trends are outstanding, and we expect new proprietary innovations and field sales force expansion to be meaningful contributors to growth in 2025. We see increasing evidence that long-term secular trends around pet ownership and pet care spending have structurally accelerated, which should help support IDEXX's long-term growth rate." A veterinarian in a veterinary clinic examining a companion animal. IDEXX Laboratories, Inc. (NASDAQ:IDXX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held IDEXX Laboratories, Inc. (NASDAQ:IDXX) at the end of the first quarter, which was 58 in the previous quarter. In the first quarter of 2025, IDEXX Laboratories, Inc. (NASDAQ:IDXX) reported organic revenue growth of 5% driven by 4.5% organic revenue gains in the CAG business, 7% organic growth in water, and 4% organic growth in LPD. While we acknowledge the potential of IDEXX Laboratories, Inc. (NASDAQ:IDXX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered IDEXX Laboratories, Inc. (NASDAQ:IDXX) and shared the list of best stocks to buy according to Brasada Capital Management. In Q2 2025, IDEXX Laboratories, Inc. (NASDAQ:IDXX) contributed to Conestoga Capital Advisors' performance. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
