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Middle Coast Investing, an investment advisor firm, released its first-quarter investor letter. A copy of the letter can be downloaded here. Middle Coast Investing had a difficult but manageable first quarter, but everyone has suffered since the Liberation Day crash at the beginning of the second quarter. To manage the volatility, the firm decided to increase cash goal levels by roughly 5% for each portfolio. In the quarter, the firm sold 3% more than it bought. In Q1 2025, the US Portfolios returned -3.7% compared to -4.6% for the S&P 500. It’s Core U.S. portfolios returned -0.7% while Russell 2000 returned -9.8%, S&P 600 returned -9.3% and Nasdaq generated -10.4% for the same period. However, its European Portfolios appreciated by 9.2%. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its first quarter 2025 investor letter, Middle Coast Investing emphasized stocks such as The Progressive Corporation (NYSE:PGR). The Progressive Corporation (NYSE:PGR) is a US-based insurance company. The one-month return of The Progressive Corporation (NYSE:PGR) was 1.03%, and its shares gained 32.03% of their value over the last 52 weeks. On April 15, 2025, The Progressive Corporation (NYSE:PGR) stock closed at $276.11 per share with a market capitalization of $161.866 billion.
Middle Coast Investing stated the following regarding The Progressive Corporation (NYSE:PGR) in its Q1 2025 investor letter:
"We added more The Progressive Corporation (NYSE:PGR)shares in the wake of the horrible wildfires outside LA. Progressive’s home insurance business is smaller and its exposure in California wasn’t bad.