Stocks fall, holders win

Despite tepid share performances, these two stocks delivered returns of 48%.

- Hilton Tarrant

METRICS. The share prices declined, yet the returns increased, demonstrating that focusing on a single measure doesn't always tell the full story.

(AdobeStock)

Two JSE-listed shares had indifferent, negative share price performance across 2025 - yet delivered total returns of 48% over the 12-month period.

A further two achieved total return growth of more than 20% and both of these also saw a negative 12-month share price performance.

The reasons in all four cases where investors saw negative share price appreciation is simple each of these companies returned significant amounts of capital to shareholders during the year.

The two strong performers on this metric were Texton Property Fund and Super Group, which had total returns of 48.78% and 48.36% respectively (the former ended 6.25% lower in the year, while the larger Super Group was down 35.9%).

The R1.2 billion Texton, which is the most thinly traded of the four outliers, had a wild 2025, trading as high as R4.49 and as low as R2.26 per share.