Brown Brothers Harriman, an investment management company, recently released its Q3 2025 investor letter for the BBH Select Series – Mid Cap Fund. The fund experienced a decrease of -0.9% on a total return basis in the quarter, compared to the Russell Midcap Index’s 5.3% return. Year-to-date, the Fund has decreased by -1.8%, while the Index has seen a 10.4% return. The third quarter saw a boost in the low-quality rally that began late last year and continued to gain momentum throughout 2025.
In the investor letter, BBH Select Series – Mid Cap Fund highlighted Shift4 Payments, Inc. (NYSE:FOUR) as one of its stock picks. Shift4 Payments, Inc. offers software and payment processing solutions. The stock had a one-month return of -8.58% and has lost 34.27% of its value over the last 52 weeks. As of December 09, 2025, Shift4 Payments, Inc. stock closed at $66.90 per share, with a market capitalization of $5.929 billion.
Regarding Shift4 Payments, Inc. in the third quarter 2025 investor letter, BBH Select Series – Mid Cap Fund stated that the company slightly missed consensus estimates on volumes, EBITDA, and EPS, while beating consensus on net revenue and free cash flow. The recent acquisition of tax-free shopping solutions provider Global Blue impacted the company’s guidance, leading to confusion among sell-side analysts. However, Shift4 Payments continues to expect over 20% organic net revenue growth this year and is tracking towards the high-end of its guidance.
Although Shift4 Payments, Inc. is not among the 30 most popular stocks among hedge funds, 45 hedge fund portfolios held the stock at the end of the third quarter. While acknowledging the potential of Shift4 Payments, Inc. as an investment, BBH Select Series – Mid Cap Fund believes that certain AI stocks offer greater upside potential and carry less downside risk. For investors seeking an undervalued AI stock with significant potential, they can explore the fund’s recommendation in their free report on the best short-term AI stock.
Overall, BBH Select Series – Mid Cap Fund’s Q3 2025 investor letter highlights the fund’s performance, key stock picks, and insights into Shift4 Payments, Inc.’s performance and potential in the market. Investors can download the full investor letter for more details on the fund’s top holdings and strategic outlook.
