Minot Light Capital Partners released its Q3 2025 investor letter, showing a net return of 7.6% for limited partners. However, the performance underperformed benchmarks like the micro-cap benchmark’s 17.1% return. Check out the fund’s top five holdings for 2025 to see its best picks.

Torrid Holdings Inc. (NYSE:CURV), a retailer for curvy women, had a one-month return of -20.91% and shares lost 80.27% over the last 52 weeks. On December 23, 2025, Torrid Holdings Inc. (NYSE:CURV) closed at $0.9807 per share, with a market capitalization of $97.282 million.

In the Q3 2025 letter, Minot Light Capital Partners discussed Torrid Holdings Inc. (NYSE:CURV) as its biggest negative contributor due to factors like tariff impacts and a weaker consumer. Despite this, the company projects EBITDA margin and free cash flow expansion into 2026 and beyond, supported by margin expansion and revenue retention strategies.

Read more at Yahoo Finance: Here’s What Hit Torrid Holdings (CURV) in Q3