👉 Kathmandu Capital's second-quarter 2025 investor letter reported a 17.22% gross return and 16.64% net return.
👉 The portfolio outperformed the S&P 500 and MSCI ACWI benchmarks.
👉 The letter highlighted Ubiquiti Inc., a networking technology developer, as a top holding.
👉 The company's equipment is well-suited for fixed-wireless access deployments and may benefit from the BEAD program.