Bristlemoon Capital, a global equity firm, has released its Q4 2025 Investor Letter “Bristlemoon Global Fund”. A copy of the letter can be downloaded here. The fund returned -6.2% in the December quarter and returned 0.3% in December. Since inception, the fund has produced a cumulative return of 11.9%, net of fees. In 2025, market trends intensified, with stocks perceived as AI winners rallying, while stocks considered “cheap” fell even further if labeled as AI losers. Additionally, please see the fund’s top five holdings for its top picks in 2025.
In its Q4 2025 investor letter, Bristlemoon Global Fund highlighted stocks such as Alphabet Inc. (NASDAQ: GOOGL). Alphabet Inc. (NASDAQ: GOOGL), the parent company of Google, offers various platforms and services operating through the Google Services, Google Cloud and Other Bets segments. Alphabet Inc. (NASDAQ: GOOGL)’s one-month return was 6.60% and its shares have gained 72.02% over the past 52 weeks. On January 9, 2026, Alphabet Inc. (NASDAQ: GOOGL) stock closed at $328.57 per share, with a market cap of $3.98 trillion.
Bristlemoon Global Fund stated the following regarding Alphabet Inc. (NASDAQ: GOOGL) in its Q4 2025 Investor Letter:
“In our quarterly letter of September 2025, we explained why we had taken positions in Alphabet Inc. (NASDAQ: GOOGL) and ASML. We highlighted how ASML is a monopoly in the semiconductor industry during an AI boom. Our article outlined the bear case arguments and explained our reasoning for why they were wrong. Other investors began to agree with our investment thesis, taking the stock from around €600 per share to north of €900 per share in the span of a quarter. Alphabet, where investor sentiment towards AI had become unduly pessimistic, has also since delivered strong performance and contributed significantly to the Fund’s returns.
Alphabet Inc. (NASDAQ: GOOGL) ranks fourth on our list of the 30 most popular stocks among hedge funds. According to our database, 243 hedge fund portfolios held Alphabet Inc. (NASDAQ: GOOGL) at the end of the third quarter, up from 219 in the previous quarter. In the third quarter of 2025, Alphabet Inc. (NASDAQ: GOOGL) achieved its first-ever revenue of $100 billion. While we recognize the potential of Alphabet Inc. (NASDAQ: GOOGL) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for a hugely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the reshoring trend, check out our free report on the best AI stock in the short term.
