Upslope Capital Management, an investment management company, released its fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Upslope aims to provide attractive, equity-like returns while reducing market risk and keeping low correlation with traditional equity strategies. The fourth quarter marked a strong end to an exceptional year for the firm. The Fund delivered strong results with reduced downside risk. The Fund returned +2.0% (net) in Q4 compared to +1.6% for both the S&P Midcap 400 ETF (MDY) and HFRX Equity Hedge Index. For the year 2025, the Fund returned +14.8% compared to +7.2% and +10.1% returns for the indexes, respectively. The firm observed that markets are increasingly dynamic, and most investment decisions are driven by aggressive, thematic, and very short-term-focused strategies. As a closing note, the letter states that identifying investment opportunities is straightforward, but returns remain uncertain given the current economic landscape. In addition, you can check the Fund’s top five holdings to determine its best picks for 2025.
In its fourth-quarter 2025 investor letter, Upslope Capital Management highlighted stocks such as Henry Schein, Inc. (NASDAQ:HSIC). Henry Schein, Inc. (NASDAQ:HSIC), a distributor of dental products and services, has recently been added to the portfolio. On January 16, 2026, Henry Schein, Inc. (NASDAQ:HSIC) stock closed at $79.98 per share. One-month return of Henry Schein, Inc. (NASDAQ:HSIC) was 3.09%, and its shares gained 9.23% of their value over the last 52 weeks. Henry Schein, Inc. (NASDAQ:HSIC) has a market capitalization of $9.699 billion.
Upslope Capital Management stated the following regarding Henry Schein, Inc. (NASDAQ:HSIC) in its fourth quarter 2025 investor letter:
“Henry Schein, Inc. (NASDAQ:HSIC) is the leading distributor of dental products in the U.S. and various countries around the world. The company also distributes more general healthcare products. Within its core Dental business, the company holds the leading market share position in all major countries (52% of Dental sales are from the U.S., 28% EMEA, 20% Canada/RoW) in which it operates – generally holding ~25-40% share. Historically, the company has been a slow, steady and mostly a-cyclical grower.
