Kingdom Capital Advisors, a private investment firm, released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third quarter, the portfolio recovered from the significant drawdowns from November 2024 to June 2025. The portfolio compounded at 21.06% (net of fees) since its inception vs. 4.60% for the Russell 2000 TR, 11.46% for the S&P 500 TR, and 13.48% for the NASDAQ 100 TR. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its third-quarter 2025 investor letter, Kingdom Capital Advisors highlighted stocks such as Net Lease Office Properties (NYSE:NLOP). Net Lease Office Properties (NYSE:NLOP) is a publicly traded real estate investment trust. The one-month return of Net Lease Office Properties (NYSE:NLOP) was -1.24%, and its shares lost 7.17% of their value over the last 52 weeks. On October 10, 2025, Net Lease Office Properties (NYSE:NLOP) stock closed at $28.60 per share, with a market capitalization of $423.683 million.
Kingdom Capital Advisors stated the following regarding Net Lease Office Properties (NYSE:NLOP) in its third quarter 2025 investor letter:
“We are approaching the two-year anniversary of our initial acquisition of Net Lease Office Properties (NYSE:NLOP). Since our initial purchase, the company has divested 22 of their 59 properties, repaid all corporate-level debt and paid shareholders a dividend equal to about 20% of our initial cost basis. What’s more, given the properties currently being marketed or under contract (more than half of their 20 largest remaining locations), we expect they will soon pay dividends which reduces our cost basis to zero on those purchases. This investment exemplifies the opportunities we seek to replicate across the portfolio.”
Net Lease Office Properties (NYSE:NLOP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 11 hedge fund portfolios held Net Lease Office Properties (NYSE:NLOP) at the end of the second quarter, compared to 15 in the previous quarter. While we acknowledge the potential of Net Lease Office Properties (NYSE:NLOP) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Net Lease Office Properties (NYSE:NLOP) and shared Kingdom Capital Advisors’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.
