Minot Light Capital Partners, an investment management company, released its Q3 2025 investment letter. A copy of the letter can be downloaded here. In the quarter, Minot Light generated solid returns for limited partners, with a net of 7.6%. However, on a net basis, the performance underperformed the benchmarks, particularly the micro-cap benchmark’s 17.1% return. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its third-quarter 2025 investor letter, Minot Light Capital Partners highlighted stocks such as Lucid Diagnostics Inc. (NASDAQ:LUCD). Lucid Diagnostics Inc. (NASDAQ:LUCD) is a US-based commercial-stage medical diagnostics technology company. The one-month return for Lucid Diagnostics Inc. (NASDAQ:LUCD) was 0.92%, and its shares gained 43.92% over the last 52 weeks. On December 23, 2025, Lucid Diagnostics Inc. (NASDAQ:LUCD) stock closed at $1.10 per share, with a market capitalization of $144.209 million.
Minot Light Capital Partners stated the following regarding Lucid Diagnostics Inc. (NASDAQ:LUCD) in its third quarter 2025 investor letter:
“Lucid Diagnostics Inc. (NASDAQ:LUCD): The second biggest detractor in our portfolio this quarter was Lucid Diagnostics. Lucid currently markets an FDA-approved DNA test for the early detection of esophageal precancer and cancer, known as EsoGuard. We believe EsoGuard has a legitimate multi-billion dollar plus market opportunity due to its unique capabilities, outstanding clinical data and attractiveness as a minimally invasive test for nonendoscopic precancer testing. The patient need for this test is large, the company’s clinical data is strong, and it has a unique position in the marketplace. The only thing holding back accelerating adoption has been a lack of reimbursement.
