Core Insights - Permian Investment Partners reduced its stake in Millrose Properties by approximately 1 million shares, resulting in a decrease in position value by about $19.9 million as of September 30 [1][2] Company Overview - Millrose Properties operates as a publicly traded Homesite Option Purchase Platform (HOPP'R), providing investors access to residential real estate-backed income streams typically reserved for institutional participants [5][8] - The company focuses on capital-efficient land solutions, enabling homebuilders to expand controlled land positions while optimizing capital deployment [5][8] - As of the latest report, Millrose Properties has a market capitalization of $5.2 billion and a revenue of $411 million for the trailing twelve months (TTM) [4] Financial Performance - In the third quarter, Millrose generated $179.3 million in revenue and reported adjusted funds from operations of $122.5 million, or $0.74 per share, exceeding earlier run rates and prompting an increase in year-end guidance [10] - Millrose Properties accounts for 6.7% of Permian's reportable assets under management (AUM) [3][11] - The company has a dividend yield of 9.3%, indicating a focus on providing returns to shareholders [4] Market Position - Millrose Properties shares have increased approximately 43% since its spin-off from Lennar in February [3][9] - The company specializes in homesite option purchase solutions, facilitating capital-efficient land acquisition for homebuilders, primarily targeting institutional homebuilders and real estate investors [8][13] Investment Strategy - The recent sale by Permian is viewed as a risk management strategy rather than a reflection of Millrose's fundamentals, indicating a disciplined approach to portfolio concentration [9][11] - Millrose remains a significant holding for Permian, reflecting a yield-driven investment strategy rather than a momentum trade, with an emphasis on execution and balance sheet discipline [11]

Core Insights - Dividend ETFs are effective for generating consistent, passive income by investing in a diversified basket of dividend-paying stocks [1][2] - There are approximately 180 dividend equity ETFs available, making them accessible for investors with a modest initial investment [2] Total Dividend ETFs - WisdomTree U.S. Total Dividend ETF (DTD) invests in dividend-paying companies across the U.S. equity market, weighted by anticipated dollar dividends over the next 12 months, providing broad diversification [4] - Current price of DTD is $85.27, with a 52-week range of $67.09 to $85.86 [6] Dividend Growth ETFs - Vanguard Dividend Appreciation ETF (VIG) targets companies that have raised dividends for at least 10 consecutive years, resulting in a portfolio with a higher concentration of tech stocks [6][11] - iShares Core Dividend Growth ETF (DGRO) requires a five-year track record of dividend growth and a low payout ratio to enhance quality [7] Dividend Quality ETFs - Schwab U.S. Dividend Equity ETF (SCHD) evaluates cash flows, return on equity, dividend growth history, and yield to identify high-quality dividend stocks [8][10] - FlexShares Quality Dividend Index ETF (QDF) screens for profitability and cash flows, optimizing for quality score and dividend yield [9][12] High Dividend Yield ETFs - State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) targets the 80 highest-yielding components of the S&P 500, balancing risk through equal weighting [13] - Vanguard High Dividend Yield ETF (VYM) includes the top half of dividend yields from a broad U.S. stock universe, with a current price of $145.58 and a 52-week range of $112.05 to $147.88 [15][17] Conclusion - These dividend ETFs serve as strong foundational elements for building a long-lasting income stream [16]

Core Insights - Permian Investment Partners has significantly increased its stake in TIC Solutions, acquiring nearly 4.9 million additional shares, bringing its total holdings to approximately 14.6 million shares valued at $193.9 million as of September 30 [2][3] - TIC Solutions now constitutes about 21.9% of Permian's reportable assets under management (AUM), making it the largest position in the portfolio [3][6] - The company's revenue for the third quarter reached $473.9 million, with adjusted EBITDA increasing by 51% year over year, despite reporting a net loss of $13.9 million [6][8] Company Overview - TIC Solutions, Inc. specializes in nondestructive testing and inspection services, operating across the United States and Canada [4] - The company has a market capitalization of $2.3 billion and trailing twelve-month (TTM) revenue of $1.1 billion, with a net income loss of $121.2 million [4] - The stock price as of the latest report is $10.34, reflecting a nearly 20% decline since its NYSE listing in February [3][4] Investment Rationale - The investment in TIC Solutions reflects a belief in the company's recurring, compliance-driven revenue model, which is less susceptible to cyclical economic fluctuations [5][8] - The company is positioned in a sector where services are often mandated and repeat in nature, suggesting a stable revenue profile that can grow over time [5] - TIC's liquidity remains strong, with $282.9 million available at the end of the quarter, providing flexibility for future growth initiatives [7][8]

Tesla's stock reached its all-time closing high today, marking the first time it's achieved this level in a year.Tesla (TSLA +4.00%) shares rose as much as 5% to start the trading week, briefly marking the highest level in a year. As of 12:30 p.m. ET, the stock remained up by 4%, just shy of the all-time high. News that Tesla's U.S. sales in November were the lowest since January 2022 hasn't deterred a recent rally, with shares up 18% in the last month. Robotaxi progressTesla's domestic sales fell 23% to 3 ...

Core Insights - Permian Investment Partners has significantly increased its stake in KBR by purchasing an additional 1.3 million shares, raising its total position value to $150.5 million, which now represents 17% of the fund's U.S. equity AUM [2][10] - KBR's stock price is currently at $42.97, reflecting a 27% decline over the past year, contrasting with the S&P 500's 13% increase during the same period [3] - KBR's latest financial results show revenue of $1.9 billion, with adjusted EBITDA rising 10% to $240 million and adjusted earnings per share increasing 21% to $1.02, indicating strong profitability despite flat revenue growth [11] Company Overview - KBR, Inc. is a global engineering and technology company with a diversified portfolio that includes government and commercial markets, focusing on mission-critical services and sustainable technologies [6][9] - The company generates revenue through contract-based services in government solutions and sustainable technology solutions, serving various government agencies and global clients in sectors such as energy and infrastructure [9] Financial Metrics - KBR's trailing twelve months (TTM) revenue is reported at $8 billion, with a net income of $380 million and a dividend yield of 1.5% [4] - The company's backlog and options total $23.4 billion, providing multi-year revenue visibility [11] Investment Perspective - The increase in KBR's position within Permian's portfolio indicates a strong conviction in the company's long-term potential, aligning with the fund's strategy of favoring capital-light, cash-generative businesses [12]

The billionaire investor recently addressed why his holding company unloaded its $5.8 billion stake in Nvidia.Masayoshi Son is a legendary investor from Japan, best known for founding the technology-focused holding company SoftBank Group. With hundreds of billions in assets under management, SoftBank hasn't been shy about getting involved in the artificial intelligence (AI) revolution.Perhaps unsurprisingly, the investment firm took a sizable position in Nvidia (NVDA +1.49%) over the last several years, and ...

Bloom Energy shares were hit hard last week, but the stock is still up more than 300% this year.Shares of Bloom Energy (BE 0.35%) were down more than 12% last week. This is partly due to investors, including several insiders, selling to lock in profits, as well as broader market speculation about a potential artificial intelligence bubble.Company insiders and retail investors locked in profits after the company's stock rose 365% since the start of 2025. Insiders sold more than $19 million in shares in Novem ...

Core Insights - The U.S. cable television industry is facing significant challenges, particularly with the impending launch of YouTube TV Plans, which will offer genre-specific packages, including sports, potentially undermining traditional cable services [2][3][10] Industry Overview - The cable television business has been declining for over a decade, with major providers like Xfinity, Spectrum, and Altice losing 16.6 million paying customers since early 2018, equating to nearly 40% of their total customer base [4] - The rise of streaming services, which are generally cheaper, has contributed to this decline, with YouTube TV attracting around 10 million customers since its limited launch in 2017 [7] YouTube TV's Strategy - YouTube TV's new offerings will allow consumers to pay for only what they want to watch, potentially increasing its customer base despite lower prices compared to traditional cable [8][10] - YouTube TV is uniquely positioned to negotiate with content providers for à la carte programming, unlike traditional cable companies that have relied on bundled packages [14][18] Competitive Landscape - Major content providers, including Disney, are adapting to the changing landscape, as evidenced by their willingness to negotiate terms with YouTube TV, which reflects the broader struggles of the cable industry [15][16] - YouTube TV's ability to monetize through various channels, including ads on YouTube, gives it a competitive edge over traditional cable companies that lack such diversified revenue streams [19] Implications for Investors - The shift towards YouTube TV's model poses a significant threat to traditional cable providers, particularly for companies like Charter and Altice, which may struggle to maintain profitability [21][22] - The situation presents a favorable outlook for Alphabet, suggesting potential investment opportunities in the company while advising caution regarding investments in the cable television sector [22]

Core Viewpoint - Oklo is positioned to benefit from the increasing recognition of nuclear power, particularly small modular reactors (SMRs), as essential for powering the rapidly growing artificial intelligence (AI) infrastructure, following supportive comments from Nvidia CEO Jensen Huang [1][2]. Company Overview - Oklo specializes in next-generation nuclear technology that is safer and cleaner, aiming to meet the energy demands of the expanding AI industry [2]. - The company is currently pre-revenue and is expected to have its operational plant ready by late 2027 or early 2028, with stock prices having increased over 385% year-to-date due to the anticipated energy needs tied to AI [5][7]. Market Dynamics - AI's energy demands are projected to triple or quadruple by 2030, with data centers consuming more energy than some countries, positioning Oklo as a potential default provider of nuclear power for large corporations and governments [3]. - The nuclear sector is experiencing a resurgence, but Oklo must demonstrate its technology's scalability to capitalize on this trend [6]. Financial Position - Oklo is currently incurring significant operating expenses, exceeding $82 million through the first three quarters of 2025, but holds a strong cash and marketable securities position of nearly $1.2 billion [7]. - The company is considered speculative, with future stock performance likely tied to AI sentiment and energy demand, as revenue generation is still in the intermediate future [8][12]. Regulatory Environment - Recent support from the Department of Energy may alleviate regulatory concerns, and there are opportunities for collaboration with governments seeking clean energy solutions [9][10]. Competitive Landscape - Oklo faces competition from traditional utility providers and other companies like NuScale Power, which are also developing SMRs, as well as alternative energy sources that could impact its market share [11]. Future Outlook - If nuclear power is deemed necessary for AI expansion, Oklo's prospects may improve as it approaches a full launch in 2026, benefiting from a first-mover advantage in serving the AI industry's energy needs [12]. - Future stock performance may be driven by excitement and market sentiment rather than immediate revenue, but operational capabilities could materialize within a few years [13].

Nuclear power is on the march, and so are shares of Cameco.Nuclear is having a moment. With artificial intelligence (AI) data centers projected to consume as much electricity as the entire nation of Japan, governments around the world are turning to nuclear energy to power their economies.The U.K. government is spending 18 billion British pounds (about $24 billion) to bring on what its energy secretary calls a "Golden Age" of nuclear investment. Last week, Poland began construction of its first nuclear plan ...