Ruane, Cunniff LP, an investment adviser managing Sequoia Strategy, released its Q4 2025 investor letter. A copy of the letter can be downloaded here. Sequoia Strategy returned 9% in Q4 compared to 2.7% for the S&P 500 Index. The Strategy delivered a return of 21.9% in 2025 versus 17.9% for the Index. In a year characterized by both strength and volatility, the Strategy outperformed the Index. The firm strives to invest in high-quality, fundamentally and financially strong businesses at reasonable prices. The Strategy is concentrated while it covers a wide range of sectors, business styles, and regions. Please review the Strategy’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, Sequoia Strategy highlighted Align Technology, Inc. (NASDAQ:ALGN) as a recent addition. Align Technology, Inc. (NASDAQ:ALGN) is a medical device company known for the Invisalign clear aligner orthodontic system. On February 6, 2026, Align Technology, Inc. (NASDAQ:ALGN) stock closed at $187.60 per share. One-month return of Align Technology, Inc. (NASDAQ:ALGN) was 9.07%, and its shares are down 11.52% over the past twelve months. Align Technology, Inc. (NASDAQ:ALGN) has a market capitalization of $13.598 billion.
Sequoia Strategy stated the following regarding Align Technology, Inc. (NASDAQ:ALGN) in its fourth quarter 2025 investor letter:
“Notable new positions added this past year included MSA Safety, Inc., Accenture Plc, and Align Technology, Inc. (NASDAQ:ALGN). We introduce each of these investments below.
