JB Global Capital, an investment firm known for its disciplined approach, has reported an 8.9% decline in its performance for the fourth quarter of 2025. This downturn was primarily attributed to a significant drop in the value of Alibaba, the firm’s largest holding. In contrast, global markets posted modest gains during the same period. Despite this setback in Q4, JB Global Capital achieved a remarkable full-year return of 67.5%, bringing its total return since inception to 108.9%, significantly outpacing major benchmarks.
The firm’s investor letter highlights that the gains experienced in 2025 were largely concentrated within a select group of mega-cap technology companies. JB Global Capital has intentionally avoided these stocks due to their high valuations, adhering instead to a strategy focused on fundamental analysis. The management team expressed confidence that this approach, centered on sound financial principles, will yield positive long-term performance as market dynamics evolve.
In the letter, JB Global Capital also encouraged investors to review its top five holdings, which showcase the firm’s best investment picks for 2025. These selections reflect the firm’s commitment to identifying opportunities that align with its strategic vision.
Overall, while the short-term performance in Q4 2025 may raise questions, JB Global Capital’s impressive annual results underscore its potential for continued success in the investment landscape. The full Q4 2025 investor letter is available for download for those interested in a more detailed analysis of the firm’s strategies and holdings.
