“We will get hit from time to time with large losses. Charlie (Munger) and I, however, are quite willing to accept relatively volatile results in exchange for better long-term earnings than we would otherwise have had. In other words, we prefer a lumpy 15% to a smooth 12%.” ~ Warren Buffett
At Curran, we would never recommend liquidating what has been working well over many years to chase the current “flavor of the month”. It would be inadvisable and we would go further by asserting irresponsible. This year has been a particularly challenging one for quality companies, which we define as those with strong balance sheets, little debt, high returns on shareholder equity and consistently growing profitability. These are precisely the types of companies that we own in our Core Growth equity strategy, resulting in a challenging 2025. An outcome leaving us ready to flip the calendar and welcome 2026.
Most managers, and investors for that matter, opt for pursuing smoothness. In the long run, a high tolerance for volatility can be a competitive advantage as it avoids chasing returns (which is no more than buying what has been working in the recent past). However, it can be prudent to invest in different investment strategies and styles to help diversify your investment portfolio. If it fits your risk tolerance and investment objectives, this diversification can be beneficial when seeking to smooth returns.
Curran does manage different strategies that have been doing well. Our All Cap and Midcap strategies, for example have continued to perform well in 2025. Why would those perform well in 2025 while another strategy may not? Let’s start with the cautionary note not to focus on short-term results, such as one year. All Cap invests in companies of all sizes, from small (such as current holding SPX Technologies) to the largest companies (such as Microsoft). This strategy trades frequently, resulting in high portfolio turnover and capital gains. The All Cap strategy works best in a nontaxable account such as an IRA. In addition, it is also more aggressive and riskier than other strategies, such as our Core Growth portfolio. Our Midcap strategy has performed very well too. This strategy appeals to us because it fits into the sweet spot between large and small companies. Our analysis allows us to invest in companies with the risk profile of large companies and the return potential of small companies. As proud as we are of our Midcap record, mid-sized companies in general have trailed the returns of the largest companies (such as those in the S&P 500) over the last several years. History suggests that it will change, but nobody knows with any certainty when.
Each quarter, Broadridge Lipper releases its “Best Money Managers” ranking, a comprehensive survey of institutional money managers. While Curran Wealth Management received awards in numerous different categories for the awards quarter ending 9/30/2025, we want to highlight 2awards in particular.
All-Cap Universe
The All-Cap Universe is made up of a broad spectrum ofequity securities. There are no capitalization mandates or constraints put onthe companies comprising this universe.
All Cap - 12 Quarters (3 Years)Ending 9/30/2025 – Curran’s All Cap Equity portfolio ranked 2nd in a universe of 86 managed funds with a rate of return (RoR) of 36.97%*. The average RoR for the funds in this category was 20.51%, while the Russell 3000 Index (the index to which this category is benchmarked and measured against) returned 24.12% for the same period.
US Midcap Equity
The Midcap universe is made up of stocks believed to be in the middle of their growth curve, typically with a market value between $2billion and $25 billion and includes all Midcap investment strategies regardless of their investment style. These strategies are often used to provide growth, diversification, and balance.
40 Quarters (10 Years) Ending 9/30/2025 - Curran’s Midcap Core Growth Equity portfolio ranked 10th in a universe of 125 managed funds for the 10-year period with an RoR of 14.13%*. The average RoR for the funds in this category was 10.91%, while the Russell Midcap Growth Index (the index to which this category is benchmarked and measured against) returned 13.38% for the same period.
Our Mission
At Curran, our goal is to outperform market indices and provide our customers with a higher rate of return through active portfolio management. We do this by identifying quality companies, investing in a small, diversified number of them, and monitoring their performance, all while remaining nimble enough to make strategic changes quickly and efficiently. These rankings help illustrate the effectiveness of our strategies.
We thank you for allowing us to be your trusted financial advisor. Please contact your Private Wealth Manager with any questions. A discussion with Kevin or Tom can be arranged to cover our investment strategies and review your asset allocation.
Best,
Kevin Curran
Co-CEO & Chief Investment Officer
At Curran we value service over sales and believe quality service yields happy clients. Below is our 4-step process (the first three steps at no cost to you).
A short introductory call for us to get to know one other. During this call we will discuss your financial goals, concerns and hopes for the future.
In this meeting we will go over your current financial situation, take a deeper look at your goals, discuss your risk tolerances, and collect the data necessary to build a formal proposal.
Based on our data gathering session, our Private Wealth Managers will present you with a custom proposal tailored to your needs. We encourage individuals to take the time to evaluate this proposal.
If you are comfortable with the proposal and choose to invest with Curran, our team will be there every step of the way assisting in opening the recommended accounts and facilitating all necessary parts of your onboarding process.
