Headwaters Capital Management released its Q3 2025 investor letter, focusing on AI. The portfolio returned -2.7% in the quarter compared to a +5.3% gain for the Russell Mid Cap Index. Check the fund’s top 5 holdings for 2025 picks. Download the letter for more information.

In Q3 2025, Headwaters Capital Management highlighted Driven Brands Holdings Inc. (NASDAQ:DRVN), a provider of automotive services. The one-month return for DRVN was -12.49%, with shares gaining 4.42% over the last 52 weeks. On October 13, 2025, DRVN stock closed at $15.13 per share, with a market cap of $2.486 billion.

Headwaters Capital Management added a starter position in Driven Brands Holdings Inc. (NASDAQ:DRVN) during Q3 2025, recommending it as a buy in their investor letter.

Read more at Yahoo Finance: Here’s Headwaters Capital Management’s Investment Thesis for Driven Brands (DRVN)