Vef Ab (VEFAB) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the VEF third quarter 2025 earnings call. At this time all participants are in a listen only mode. After the speaker's presentation there will be a question and answer session. To ask a question during the session you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1, 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, David Nangle, CEO of the company. Please go ahead. Thank you very much, Heidi. Good morning and good afternoon, everybody. And thank you once again for attending our results call this time for Q3. My apologies to our investors and followers in the U.S. We started a bit earlier this time around, but can't be helped because of travel plans. But thank you for dialing in, nonetheless. And going straight into, and joining me on the call, as per always, will be our CIO, Alexis Koumoudos, who will join us for the valuation section and portfolio update. But going straight into the deck, going to slide two, and I guess this, you know, event of the quarter, but more really, areas worth highlighting from today's release and what we're seeing. And it's really fourfold. One is NAV continues to trend higher. It shouldn't be a surprise given the capital market trends, macro trends and everything we're seeing, but we're also seeing it through the prism of our portfolio. We end the quarter at nearly $406 million of NAB, up 8.3% quarter-on-quarter and nearly 15% year-to-date. And that's just a nice supportive trend for markets, multiples, FX, But most importantly, it's really around the portfolio, which is now in a, I like ...