Moon Capital Management, LLC, an investment management company, released its second quarter 2025 investor letter.
A copy of the letter can be downloaded here
The S&P 500 index rebounded in the second quarter, achieving a 9.6% return for the first half of the year, while Moon Capital Management’s equity portfolio gained 4%. AI-related stocks led market performance, mitigating geopolitical concerns. Moon Capital holds 10% of its portfolio in technology, significantly less than the S&P 500’s 39%.
The firm remains cautious about large AI investments and their potential return on investment. In addition, please check the Strategy’s top five holdings to know its best picks in 2026. In its Q2 2026 investor letter, Moon Capital Management highlighted DaVita Inc. (NYSE:DVA).