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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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Buyside Digest is not affiliated with, and does not endorse, Magellan Global Opportunities Fund No. 2. This analysis is provided for institutional research purposes only and is not investment advice.
"The Magellan Global Opportunities Fund No. 2 underperformed the benchmark in Q4 2025 with a 1.4% Class A return. The fund is entering 2026 defensively positioned due to stretched valuations and mixed macro outlooks."
During the quarter ending 31 December 2025, Magellan Global Opportunities Fund No. 2 (Class A) posted a return of 1.4%, underperforming the MSCI World NTR Index's return of 2.5%. While Alphabet and Amazon contributed strongly, Microsoft and Meta detracted from quarterly performance. The portfolio managers have positioned the fund defensively heading into 2026 due to stretched market valuations, selecting highly resilient companies like Nestlé which feature strong brand moats and pricing power to compound capital over the long term.
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