Overview

• LRT Capital Management released its LRT Global Opportunities Strategy Q3 2025 investor letter reporting a -8.00% net return in September and a -0.17% year-to-date result.
• The letter attributes the setback to market gains concentrated in a handful of highly valued mega-caps, which reduced the effectiveness of its systematic, hedged positioning.
• The firm highlights The Toronto-Dominion Bank for its Canadian banking oligopoly positioning, conservative risk culture, and long-term push in U.S. retail banking.
• RLI Corp., The Toro Company, and Colliers International are cited for durable moats rooted in underwriting discipline and niche focus (RLI), brand strength and dealer distribution with high switching costs (Toro), and a decentralized, owner-operator culture with significant insider equity (Colliers).
• Insider Monkey notes these stocks are absent from its 30 Most Popular list, with end-Q2 2025 hedge fund holder counts of 23 for TD, 29 for RLI, 36 for Toro, and 13 for Colliers.