Overview
- Ruane, Cunniff LP reported Sequoia Strategy returned 9% in Q4 and 21.9% for 2025, beating the S&P 500’s 2.7% and 17.9%.
- New positions established during 2025 include MSA Safety, Accenture, and Align Technology, selected for durable business quality and attractive entry points.
- Sequoia chose to hold its Alphabet stake despite antitrust and generative‑AI risks, citing fundamental strength and full‑stack AI capabilities, and the position contributed meaningfully to Q4 results.
- Market snapshots as of Feb. 6, 2026 show divergent moves: Accenture closed at $240.60 (one‑month −14.36%, 52‑week −37.81%), Align at $187.60 (one‑month +9.07%, 12‑month −11.52%), and MSA Safety at $193.07 (one‑month +11.17%, 12‑month +17.03%).
- Elevance Health was cited as a detractor in the quarter, with Sequoia noting earlier trims to managed‑care exposure in 2022 and Elevance reporting Q4 2025 operating revenue of $49.3 billion, up 10% year over year.