Goldman Sachs’ Indian equity portfolio, held through its global funds, witnessed a sharp 27% decline in CY25, falling from Rs 12,407 crore in December 2024 to Rs 9,015 crore as of December 31, 2025. Despite the overall slump, four stocks in the portfolio bucked the trend, delivering gains of over 50% during the year. It is important to note that the December 2025 portfolio value is based on shareholding data from the September quarter, as December quarter data is expected to be released in the coming weeks.