Cooper Investors, an investment management firm, released its fourth-quarter 2025 investor letter for “Cooper Investors Global Equities Fund (Unhedged)”. A copy of the letter can be downloaded here. The portfolio returned -3.3% in Q4 2025, bringing the yearly returns to 2.6%. Currency fluctuations of approximately 5% weighed on the yearly performance. The portfolio returned 14.2% on an annualized basis over the past three years, compared to the MSCI AC World Index’s annualized return of 21.3% for the same period. The firm focuses on a long-term horizon to provide a risk-adjusted return above the market. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, Cooper Investors Global Equities Fund highlighted stocks such as Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s leading manufacturer of integrated circuits and other semiconductor devices. On February 10, 2026, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock closed at $361.91 per share. One-month return of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was 10.64%, and its shares are up 75.36% over the past twelve months. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a market capitalization of $1.877 trillion.
Cooper Investors Global Equities Fund stated the following regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its fourth quarter 2025 investor letter:
“Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest semiconductor foundry. The Fund has been invested in TSMC since May 2020. Over this period, the company has cemented its position as the leading manufacturer of advanced chips and delivered Earnings per Share growth of close to 30% per annum. Investment returns have been over 36% on an annualised basis. More recent growth has been fuelled by the demand for chips used in High Performance Computing applications, or AI.
