Brown Brothers Harriman, an investment management firm, has issued a Q4 2025 investor letter for the BBH Selection Series – Mid-Cap ETF. A copy of the letter is available for download here. In the quarter, the ETF lost 3.9% on a total return basis, compared to a 0.2% return for the Russell Midcap Index. The year was characterized by the best performance of unprofitable and highly volatile companies. Healthcare and commodities were the top-performing sectors in the fourth quarter, while telecommunications services and real estate were lower. The company is confident that the market will eventually shift its focus to financial fundamentals, such as profitability and cash flow. Please review the fund’s top five holdings for 2025 to gain insight into their key picks.
In an investor letter in the fourth quarter of 2025, the BBH Selection chain – a mid-cap fund emphasized stocks such as NVR, Inc. (NYSE:NVR). Headquartered in Reston, Virginia, NVR, Inc. (NYSE:NVR) is a homebuilder that operates through the Real Estate and Mortgage Banking segments. On March 10, 2026, NVR, Inc. (NYSE:NVR) stock closed at $6,783.24 per share. NVR, Inc. (NYSE:NVR)’s one-month return was -16.23%, and its shares lost 7.72% over the past 52 weeks. NVR, Inc. (NYSE:NVR) has a market capitalization of $19.261 billion.
BBH Select Series – Mid Cap Fund NVR, Inc. (NYSE:NVR) said the following in its fourth quarter 2025 investor letter:
“We initiated a new position in Tradeweb Markets Inc. (Tradeweb) in the 4th quarter and turned a position into it. NVR, Inc. (NYSE:NVR).
NVR, Inc. (NYSE:NVR) is not on our list of the 40 most popular stocks among hedge funds. According to our database, 50 hedge fund portfolios held NVR, Inc. at the end of the fourth quarter. (NYSE:NVR) held, up from 46 last quarter. While we have NVR, Inc. as an investment. (NYSE:NVR)’s potential, we believe some AI stocks offer more potential and lower risk. If you’re looking for the most undervalued AI stocks that stand to benefit significantly from Trump-era tariffs and the offshore trend, check out our free report Best short-term AI stocks.
