Graham Holdings Company (GHC) has demonstrated impressive performance, primarily driven by the successful rejuvenation of its Kaplan education segment. This turnaround has been a key factor in the company's overall growth, as highlighted in the Longleaf Partners Small-Cap Fund's fourth-quarter 2025 investor letter. The letter underscored GHC's diverse portfolio, which includes thriving broadcast television and healthcare divisions, further strengthening its market position and financial health.

Longleaf Partners' Q4 2025 investor letter detailed GHC's strong showing throughout the year. The Kaplan education segment, after a multi-year effort, has finally returned to a growth trajectory, contributing significantly to the conglomerate's success. This revitalization is particularly noteworthy given the segment's diverse subparts.

Beyond education, GHC's broadcast television division is also experiencing positive momentum, with an increase in merger and acquisition activity providing unique opportunities for expansion and value realization. The company's healthcare segment continues its robust growth, successfully navigating leadership changes and maintaining its upward trajectory.

Financially, Graham Holdings remains in a strong offensive position, boasting a healthy net cash balance sheet and an overfunded pension. These factors contribute to the company's resilience and capacity for future growth, making it a compelling case for investors.

As of February 24, 2026, GHC's stock closed at $1,067.83 per share, with a market capitalization of $4.658 billion, reflecting a 9.76% gain over the previous 52 weeks, despite a recent one-month decline of 6.58%. The company's resilience in protecting investments during market volatility, as noted by Southeastern Asset Management, underscores its strategy of prioritizing solid, free cash flow-generating enterprises over speculative ventures.

The successful revitalization of its Kaplan education division, coupled with strong performances in broadcast television and healthcare, positions Graham Holdings Company for continued growth and market confidence.