As of December 31, 2025, Book Value per Share stands at $22.08, reflecting an annual growth of 27.5%. Which represents an overall increase in per-share Book Value of 150.9% since the start of investment activities in the 4th Quarter of 2022.
- 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year
- Consolidated Statement of Changes in Equity (value in %)
- Cash and Cash Equivalents 3.0 0.6 3.8 0.5 2.7
- Investments in Marketable Securities:
- Unrealized & Realized Gains (Losses) 0.8 6.2 4.1 2.7 15.6
- Capital Allocation Adjustments (1) 6.9 0.8 1.7 0.2 3.8
- Non-Core Assets Valuations 2.7 3.0 0.0 0.4 5.4
- Other Equity Adjustments (2) — — — 0.0 0.1
- Total Change in Per-Share Book Value * %7.4 %9.0 %6.1 %2.7 %27.5
- $1.28 $1.67 $1.24 $0.58 $4.76
Fair value-based data. Internal valuation only. ⏐ Unaudited
Note: Quarterly results are measured against equity at the start of each period. Because this capital base shifts throughout the year, quarterly percentages are not additive. The Full Year figure instead reflects the cumulative change from the prior year-end.
* Stated totals and sub-totals may not equal the arithmetic sum of their individual components due to rounding.
Marketable Securities Portfolio
Year-End Summary
No. of Securities (FY)*
23
Annual Return**
20.1%
Turnover Ratio
Moderate (~10%)
* Represents the total number of distinct securities held or transacted at any point during the fiscal year.
** Full-year return calculated on a time-weighted basis for the 12 months ended December 31, 2025.
** Full-year return calculated on a time-weighted basis for the 12 months ended December 31, 2025.
4th Quarter Summary
No. of Securities
18
QRT Return*
4.3%
Turnover Ratio
Minimal (~5%)
* Returns are calculated using the time-weighted rate of return (TWR) methodology, net of external cash flows, and are reported based on the reference quarter.
Aggregated Metrics
CAGR
13.1%
Annualized STDEV
9.8%
Sharpe Ratio
1.09
P/E Ratio
20.40
Inception-to-Date (4th Quarter 2022 – 4th Quarter 2025).
About MMH
Meridian Moon Holdings is a holding company engaged in diversified investment activities, involving marketable securities and productive assets.
It operates as a privately held entity, does not seek outside capital, and is not listed on any stock exchange.
It operates as a privately held entity, does not seek outside capital, and is not listed on any stock exchange.
REF: MMH-AR-2025
Accession No: 110-25-0001
ARCHIVAL FILING
Issued: January 8, 2026