Greystone Capital Q3 2025 Letter To Clients

2025-11-03 00:30:47 ET

Clients and Friends,

During the third quarter of 2025, the median account return for separate accounts managed by Greystone Capital was -3.6%, net of fees. Year-to-date, the median account return is +1.6% net of fees. Third quarter results compare unfavorably to both the S&P 500 and Russell 2000 returns of +8.1% and +12.4%. Because client portfolios are invested in a concentrated way consisting of small companies mostly outside of the major indices, our returns should typically vary from the returns generated from those indices....

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