The Kiplinger 25 -- our selection of favorite funds -- beat their benchmarks. Plus: Check out our suggested portfolios designed to match long-term, medium-term and short-term goals. January 31, 2006 The Kiplinger 25, our favorite no-load funds, are delivering solid results. Since publication of our May 2005 cover story (The 25 Best Mutual Funds), our 20 stock-fund picks have, on average, returned 7.9%, versus 6.4% for Standard & Poor's 500-stock index. The five bond funds gained 2.2%, on average, which is on par with the Lehman Brothers Aggregate Bond index. As for our suggested portfolios, the long-term package gained 8.6%, the medium-term portfolio rose 7.0%, and the short-term portfolio earned 5.1%. Four of our favorites have closed to new investors since last May. New investors should substitute T. Rowe Price Real Estate (symbol TRREX; 800-638-5660) for Third Avenue Real Estate Value. Others not in the Kiplinger 25 but worth considering are Excelsior Value Restructuring (see Clunky Name, Snazzy Record), Fairholme fund (FAIRX; 866-202-2263) and the new Wintergreen fund (WGRNX; 888-468-6473).