TCW funds, an investment management company, released its “TCW Relative Value Mid Cap Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equities finished the year on a positive note, with the S&P 500 Total Return (USD) increasing by 2.65% and achieving a remarkable 17.9% in 2025. The AI sector continued to thrive following Trump’s tariff announcements. While there are concerning indicators that echo the Dot-Com bubble, the underlying companies appear to be defying odds with technological advancements, strong financials, and reasonable valuations. Looking ahead, the firm anticipates the equity market will remain highly sensitive to policy changes and earnings reports, with valuations staying near historically high levels. Class I shares of the fund returned 4.54% in Q4, outperforming the Russell Midcap® Value Index benchmark, which returned 1.42%. In addition, please check the Fund’s top five holdings to know its best picks in 2025.
In its fourth quarter of 2025, TCW Relative Value Mid Cap Fund mentioned Fox Corporation (NASDAQ:FOXA) as a new addition to its holdings. Fox Corporation (NASDAQ:FOXA) is an American media company that operates across cable network programming, broadcast television, digital platforms, and entertainment production. On April 6, 2026, Fox Corporation (NASDAQ:FOXA) closed at $59.30 per share. One-month return of Fox Corporation (NASDAQ:FOXA) was 1.96%, and its shares gained 24.97% over the past 52 weeks. Fox Corporation (NASDAQ:FOXA) has a market capitalization of $24.97 billion.
TCW Relative Value Mid Cap Fund stated the following regarding Fox Corporation (NASDAQ:FOXA) in its fourth quarter 2025 investor letter:
“Fox Corporation (NASDAQ:FOXA) creates and distributes content through its various media outlets under the banner of Fox and Tubi which is its digital media platform. At initiation, during the fourth quarter of 2025, the company had a $34 billion market cap and met four of the five valuation characteristics (price to cash flow, price to sales, price to book, price to earnings). FOXA has committed audience base and is flourishing in the current political environment. Tubi Fox’s digital platform is also experiencing strong momentum as it offers sports and a large library of content supported by advertising which is popular with a large audience that views it as free streaming. Most recently Tubi started to work with creators from YouTube expanding its diverse offering. Fox is controlled by the Murdoch family through Class B shares, most recently the family resolved control issues eliminating uncertainty related to the family control, Lachlan Murdoch Executive Chair and CEO of the company.”
