Chautauqua Capital Management, a division of Baird Asset Management, is a boutique investment firm that released its second quarter 2025 investor letter for the “Baird Chautauqua International and Global Growth Fund”. A copy of the letter can be downloaded here. Global equity markets experienced a significant shift during the quarter, moving from notable losses to reaching new highs. Markets fell following the President’s announcement of unexpectedly severe tariffs, which raised recession fears. After a brief pause on tariffs, markets regained confidence, closing the quarter at or near all-time highs. In this environment, the Baird Chautauqua International Growth Fund underperformed its benchmark during the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its second-quarter 2025 investor letter, Baird Chautauqua International and Global Growth Fund highlighted stocks such as Fairfax Financial Holdings Limited (OTC:FRFHF). Fairfax Financial Holdings Limited (OTC:FRFHF) is an insurance company that offers property and casualty insurance and reinsurance, and investment management services. The one-month return of Fairfax Financial Holdings Limited (OTC:FRFHF) was -0.03%, and its shares gained 36.74% of their value over the last 52 weeks. On September 26, 2025, Fairfax Financial Holdings Limited (OTC:FRFHF) stock closed at $1,720.66 per share with a market capitalization of $38.255 billion.
Baird Chautauqua International and Global Growth Fund stated the following regarding Fairfax Financial Holdings Limited (OTC:FRFHF) in its second quarter 2025 investor letter:
“Fairfax Financial Holdings Limited (OTC:FRFHF) posted another quarter of solid premium growth and underwriting performance despite significant catastrophe losses related to the Los Angeles wildfires. Fairfax’s ability to absorb such a large catastrophe loss while still generating an underwriting profit is a testament to the insurance operations’ scale and diversification, as well as the experience and skill of its management team. Fairfax grew book value per share 14% y/y and continued to return capital to shareholders via share repurchases.”
Fairfax Financial Holdings Limited (OTC:FRFHF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held Fairfax Financial Holdings Limited (OTC:FRFHF) at the end of the second quarter, which was 1 in the previous quarter. While we acknowledge the potential of Fairfax Financial Holdings Limited (OTC:FRFHF) 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.
