


Dear Partner,
For the third quarter of 2025, our portfolio modestly increased in value with a much calmer market backdrop relative to last quarter’s tariff tantrum. Overall, the AI buildout theme continues to underpin financial markets, while underlying uneconomic activity in the real economy becomes more uneven. We continue to witness pockets of excess with...
Dear Partner,
For the second quarter of 2025, our portfolio experienced a strong surge in value as markets rebounded and our stock purchases during the tariff sell-off featured last letter performed exceptionally well. As is so often the case, the market downdraft presented an opportunity rather than a risk. By treating our investments as long-term ownership of businesses and following a strategic plan, we can look past difficult periods. Imagine how...
Bowie Capital's CIO, Cory Whitaker, joins host Paul Olschwanger on the CFA Society Podcast to talk through Bowie's strategy and process, the benefits of owning high-quality businesses for a long period of time, and how the CFA Charterholder impacted his career...