Core Viewpoint - Baron Growth Fund underperformed in Q2 2025, gaining only 0.86% compared to the Russell 2000 Growth Index's 11.97% and the Russell 3000 Index's 10.99% [1] Group 1: Fund Performance - The fund's strategy of maintaining a high-conviction portfolio of advantaged businesses was less favored as investors preferred riskier stocks during the quarter [1] - The fund's top five holdings are highlighted as key picks for 2025 [1] Group 2: Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) - Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) experienced a one-month return of -3.30% and an 8.25% decline over the last 52 weeks, closing at $46.37 with a market capitalization of $13.123 billion on September 23, 2025 [2] - The company is a triple net REIT that owns and leases casino properties, facing investor concerns over sustained high interest rates affecting its 6% dividend yield [3] - Despite the decline, the company is collecting 100% of its rent, increasing rental rates by 2% annually, and growing its dividend at a low- to mid-single-digit rate, indicating a strong financial position for future acquisitions and shareholder returns [3] Group 3: Hedge Fund Interest - Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was held by 33 hedge fund portfolios at the end of Q2 2025, an increase from 26 in the previous quarter [4] - While the company shows potential, certain AI stocks are viewed as having greater upside potential and lower downside risk [4]

Core Insights - Gaming and Leisure Properties, Inc. (GLPI) has partnered with Bally's Corporation to develop an integrated casino resort in Chicago's River West neighborhood, featuring a 178,000 square-foot casino, a 500-room luxury hotel, and various entertainment options, with a total investment of $1.19 billion [1][8] - The project is expected to open in the fourth quarter of 2026, enhancing the local community and providing long-term value to GLPI's shareholders [1][8] Completed Project Milestones - Demolition of the Chicago Tribune buildings has been completed - Caissons have been inserted, and trench excavation is finished - A concrete pad has been connected to the hotel core, and a waterproofing membrane has been installed - Structural elements such as caisson caps and grade beams have been installed to support vertical construction - Crane 1 for steel erection has been assembled, with ongoing concrete pours for various foundational elements [6][12] Current Activities - Continued vertical construction of the hotel and casino is ongoing - Regular steel deliveries and erection activities for the casino structure are in progress - Installation of underground electrical and plumbing work is being conducted, along with inspections and backfilling around completed areas [6][12] Upcoming Activities - The project will continue with the fabrication of the hotel curtainwall system for both the hotel and casino - Further vertical construction activities are planned, including the preparation for additional column pours [12] About Gaming and Leisure Properties - GLPI focuses on acquiring, financing, and owning real estate properties to lease to gaming operators under triple-net lease arrangements, where tenants are responsible for all maintenance, insurance, taxes, and utilities [8] About Bally's Corporation - Bally's Corporation operates 15 casinos across 10 states and has a growing omni-channel presence, including online gaming and sports betting platforms - The company employs approximately 10,600 people and manages around 15,300 slot machines and 580 table games [9][10]

Group 1 - The current stock market is perceived as dangerous, with a lack of awareness among many investors about the risks involved [1] - The focus is on identifying Real Estate Investment Trusts (REITs) that are temporarily out-of-favor, indicating a contrarian investment strategy [1] - The investment approach emphasizes long-term horizons and deep-value opportunities based on fundamental economic insights [1]

Group 1 - The current stock market is perceived as dangerous, with a lack of awareness among many investors about the risks involved [1] - The focus is on identifying Real Estate Investment Trusts (REITs) that are temporarily out-of-favor, indicating a contrarian investment strategy [1] - The investment approach emphasizes long-term horizons and deep-value opportunities based on fundamental economic insights [1]

Group 1 - Tenth Avenue Petroleum Corp. announced the election of all nominees as directors during its annual general and special meeting held on September 17, 2025 [1] - A total of 16,783,724 common shares, representing 37.22% of the issued and outstanding shares, were represented at the meeting [2] - The resolution to fix the number of directors at four was approved, and all four nominees received significant support, with votes ranging from 99.553% to 99.998% in favor [3] - The stock option plan was approved with 16,754,365 shares (99.843%) voting in favor [3] - Crowe & McKay LLP was appointed as the Company auditors [4] - The special resolution to change the Company name to Decimus Oil Corp. was approved with 16,780,225 shares (99.979%) voting in favor [5] Group 2 - Tenth Avenue Petroleum Corp. is a Canadian junior oil and gas exploration and production company focused on sustainable growth in Alberta, engaging in the exploration, development, and production of crude oil and natural gas properties in Western Canada [8]

Company Update - Western Star Resources Inc. has successfully acquired the Discovery Property, now fully owning the Western Star Property, which is fully permitted for a multi-pad drill program [1] - The company plans to initiate its maiden drill program on the 100% owned Western Star Property while also expanding its presence in Nevada through a recent MOU with The Real American Corp [1] Property Details - The Western Star Property includes twelve MINFILE showings, such as Black Bear, Lardeau-Goldsmith, Hunter, and others, indicating a diverse mineralization potential [2] - The property spans 4,740 hectares (46.4 km²) and is characterized by a mineralized strike length of over 6.2 km, with high-grade samples showing 246.76 g/t silver, 1 to 50.1% lead, 8.22 g/t gold, and 3.68% copper [6] Mineralization Insights - The Lardeau-Goldsmith showing is noted for high silver values, with mineralization inferred to be similar to nearby showings consisting of pyrite, galena, and sphalerite [4] - The Lexington showing features a 3.6-meter-wide quartz vein containing 1.5 meters of massive galena, assaying high silver values [5] - The Banner showing has a 32-meter adit from 1900 aimed at cutting the vein at depth, with mineralization consisting of galena-sphalerite in quartz-carbonate veins [6] Exploration and Future Plans - The company is eager to proceed with its maiden drill program, having secured drill permits in place [17] - Further updates regarding the drill program and exploration across the 100% owned Western Star Property are anticipated [17] Company Background - Western Star Resources is focused on increasing shareholder value through the development of exploration properties and seeking partnerships with industry leaders [19] - The company currently owns nine non-surveyed contiguous mineral claims located within the Revelstoke mining division of British Columbia, approximately 50 kilometers southeast of Revelstoke [19]

Core Insights - SuperQ Quantum Computing Inc. has filed two U.S. provisional patent applications to secure priority dates for its hybrid quantum-supercomputing and hybrid quantum sensing inventions, enhancing its intellectual property portfolio [1][3] - The Super™ platform is positioned to be the only platform enabling both hybrid computing and sensing by integrating classical and quantum hardware [2][3] - The patent filings are seen as a significant milestone for SuperQ, reinforcing its leadership in quantum commercialization and setting the stage for long-term value creation through licensing and partnerships [3] Company Overview - SuperQ Quantum Computing Inc. is emerging as a key player in quantum and supercomputing, aiming to provide direct ROI for global organizations [4][5] - The flagship Super™ platform is designed to make advanced computational power accessible, targeting sectors such as finance, healthcare, logistics, and defense [5] - The company is expanding its international presence, particularly in the U.S., Middle East, and Asia, with plans to establish Super Hubs in strategic regions [5] Patent Details - The first invention involves systems and methods that combine classical supercomputing with various quantum computing techniques to solve large-scale computational problems [7] - The second invention focuses on integrating classical IoT and advanced sensors with quantum-enhanced detectors for real-time precision sensing solutions [7]

Core Viewpoint - Gaming and Leisure Properties, Inc. (GLPI) has committed $225 million to finance the development of Caesars Republic Sonoma County, a new integrated resort in California, marking a significant partnership with Caesars Entertainment and the Dry Creek Rancheria Band of Pomo Indians [1][2][4] Financing Details - GLPI will provide a delayed draw term loan of $180 million at a fixed rate of 12.50% and a term loan B of $45 million with a yield to maturity of 13.95%, resulting in a blended interest rate of approximately 12.79% [2] - The property will be leased to GLPI for a minimum of $112.5 million over a 45-year term, with annual rent based on a cap rate of 9.75% [2] Project Overview - The new resort will feature a premier gaming experience with 1,000 slot machines, 28 table games, a 100-room hotel, four restaurants, three bars, a luxury spa, pool, and fitness center, with completion expected in summer 2027 [3] - The existing River Rock Casino will remain operational during the construction of the new resort [3] Strategic Importance - This partnership reflects GLPI's commitment to long-term tribal casino financing and expanding its presence in the California market [4] - The unique transaction structure provides a lower-cost financing option for Dry Creek while ensuring a long-term lease guarantee for GLPI [4] Company Background - GLPI specializes in acquiring, financing, and owning real estate properties leased to gaming operators under triple-net lease arrangements, where tenants are responsible for all maintenance and operational costs [5] - Caesars Entertainment is the largest casino entertainment company in the U.S., known for its diversified gaming and hospitality offerings [6]

Core Viewpoint - Gaming and Leisure Properties, Inc. has declared a cash dividend of $0.78 per share for the third quarter of 2025, an increase from $0.76 per share in the same quarter of 2024 [1] Company Overview - Gaming and Leisure Properties, Inc. is involved in acquiring, financing, and owning real estate properties to be leased to gaming operators under triple-net lease agreements, where tenants are responsible for all maintenance, insurance, taxes, and utilities related to the properties [3] Dividend Information - The cash dividend of $0.78 per share is payable on September 26, 2025, to shareholders of record on September 12, 2025 [1] - The company intends to review and declare future dividends quarterly at the discretion of the Board of Directors [2]

Core Viewpoint - Gaming and Leisure Properties, Inc. (GLPI) has announced a public offering of $1.3 billion in senior unsecured notes, which will be used primarily to redeem existing debt and for general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of two tranches: $650 million in senior notes due 2033 with a coupon of 5.250% and $650 million in senior notes due 2037 with a coupon of 5.750% [1]. - The 2033 Notes priced at 99.642% of par value, while the 2037 Notes priced at 99.187% of par value [1]. - The offering is expected to close on August 27, 2025, subject to certain closing conditions [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to fully redeem $975 million of 5.375% senior unsecured notes due April 2026, along with accrued interest and related fees [2]. - Remaining proceeds will be allocated for working capital, general corporate purposes, development and expansion projects, repayment of indebtedness, and capital expenditures [2]. Group 3: Company Overview - GLPI is engaged in acquiring, financing, and owning real estate properties leased to gaming operators under triple-net lease arrangements, where tenants are responsible for all facility maintenance, insurance, taxes, and utilities [7].