Montaka Global Investments, an investment management company, released its fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Montaka’s December 2025 investor letter explains that while global equity markets performed strongly in 2025, driven largely by artificial intelligence (AI) and a small number of high-performing technology stocks, the fund did not outperform during the year due to significant dispersion in stock returns across its portfolio. Some holdings generated strong gains, while others declined due to short-term factors such as concerns about AI disruption, weakness in housing-related sectors, and negative sentiment toward alternative assets and enterprise software. The letter argues that these declines are likely temporary and that many of these businesses remain fundamentally strong but currently undervalued. Looking ahead, the fund maintains a positive market outlook, believing that long-term opportunities remain strong as AI adoption accelerates, driving major investments in data centres, semiconductors, energy infrastructure, and critical commodities like lithium. The managers also note that rising geopolitical competition, resource scarcity, and technological disruption are reshaping the global economy, but they believe their strategy of investing in high-quality companies benefiting from long-term structural trends will continue to deliver strong returns over time. Consequently, the portfolio has been adjusted by adding to undervalued positions, trimming holdings that rallied strongly, and initiating a new investment in a lithium producer to benefit from expected future supply shortages linked to renewable energy and battery demand. In addition, you can check the Strategy’s top 5 holdings to determine its best picks for 2025.
In its fourth-quarter 2025 investor letter, Montaka Global Investments highlighted stocks like Alphabet Inc. (NASDAQ:GOOGL). Alphabet Inc. (NASDAQ:GOOGL) is the parent company of Google, generating the majority of its revenue from digital advertising while expanding into cloud computing and AI technologies. The one-month return of Alphabet Inc. (NASDAQ:GOOGL) was -7.18% while its shares traded between $140.53 and $349.00 over the last 52 weeks. On March 26, 2026, Alphabet Inc. (NASDAQ:GOOGL) stock closed at approximately $280.96 per share, with a market capitalization of about $3.34 trillion.
Montaka Global Investments stated the following regarding Alphabet Inc. (NASDAQ:GOOGL) in its Q4 2025 investor letter:
Alphabet Inc. (NASDAQ:GOOGL) has large, valuable core businesses that are clear beneficiaries of larger and more powerful AI models. Therefore, any ‘excess’ capacity that might materialise from the data centre buildout over the coming years will more rapidly be absorbed by their internal needs. So overall, we see the existence of large, tech/AI-enabled non-cloud businesses attached to the hyperscalers, not as a risk, but as a major strategic advantage (Click here to see the full text).
/AI%20(artificial%20intelligence)/Ai%20chip%20by%20Quality%20Stock%20Arts%20via%20Shutterstock.jpg?ssl=1 "Sandisk Stock Is Up 160% in 2026. Is There Room Left for It to Run?")
