Loomis Sayles, an investment management company, released its fourth-quarter 2025 investor letter for “Small Cap Growth Fund”. A copy of the letter is available to download here. The small caps' earnings are reaccelerating in 2025, as the firm forecasted a year ago. The market also experienced a low-quality rally within the small-cap space. Against this backdrop, the Small Cap Growth Fund underperformed the Russell 2000 Growth Index benchmark in the quarter, returning 0.51% vs. 1.22% for the benchmark. Head ...

Group 1 - Stride (LRN) offers online learning opportunities, catering to a high-growth market where customers demand alternatives to traditional education systems [1] - The company faces challenges related to customer experience and competition in the online education sector [1] Group 2 - The analyst emphasizes a GARP (Growth at a Reasonable Price) investment philosophy, focusing on companies with sustainable growth potential at reasonable valuations [1] - The research process is heavily centered on fundamental analysis and unit economics, which are seen as key indicators of a company's long-term viability [1] - The goal is to provide transparent, data-driven insights that help investors make informed decisions, moving beyond market noise [1]

Core Insights - Ohio Virtual Academy (OHVA) has received the Recognized ASCA Model Program® (RAMP®) designation from the American School Counselor Association (ASCA), highlighting its effective counseling program that aligns with the ASCA National Model® framework and positively impacts student success [1][2]. Recognition and Impact - The RAMP designation is a selective recognition that signifies a school's commitment to a comprehensive, data-informed counseling program that enhances students' academic achievement, social-emotional development, and readiness for postsecondary education [2]. - Since the program's inception in 2004, over 1,300 schools nationwide have earned the RAMP designation, with OHVA being one of only four schools in Ohio to hold this recognition [3]. Counseling Program Details - The RAMP application process requires schools to provide a full year of evidence demonstrating the implementation of the ASCA National Model through data-driven practices, including program goals and measurable outcomes [4]. - OHVA's counseling team consists of 35 counselors serving approximately 16,700 students in grades K–12, focusing on academic, social, and emotional support [5]. Unique Challenges and Solutions - Delivering counseling support in an online environment presents challenges in student access and engagement, which OHVA addresses through various communication channels such as phone calls, email check-ins, and virtual meetings [6]. - The flexibility and individualized support of the online learning model benefit students, as emphasized by the student support principal [7]. Future Recognition - The RAMP designation will remain effective through the 2030–2031 school year, after which OHVA may reapply to maintain its status [8].

Core Insights - Kadensa Capital Ltd sold its entire position in Stride, disposing of 157,101 shares valued at approximately $23.40 million during the fourth quarter [1][2] - Stride shares have decreased by 29.1% over the past year, significantly underperforming the S&P 500 by 50 percentage points [3] Company Overview - Stride reported a total revenue of $2.52 billion and a net income of $318.94 million for the trailing twelve months (TTM) [4] - The company's market capitalization stands at $3.59 billion, with shares trading at $84.78 as of March 12, 2026 [4] - Stride is a prominent provider of technology-based education solutions, catering to K-12 students and adult learners through a diverse portfolio of digital curriculum and career-focused programs [5][8] Business Model - Stride operates a technology-driven education model, generating revenue through contracts with public and private schools, direct-to-consumer offerings, and workforce development services [8] - The company serves a wide range of clients, including public and private schools, school districts, charter boards, individual learners, employers, and government agencies both domestically and internationally [8] Recent Challenges - Stride faced significant challenges following an upgraded platform implementation that resulted in a loss of 10,000 to 15,000 new enrollments, impacting its total enrollment of less than 250,000 [9]

Core Insights - Enrollment for the 2026–2027 school year is now open for two K12-powered tuition-free virtual public schools in Kansas: Insight School of Kansas (ISKS) and Kansas Virtual Academy (KSVA) [1][3] Group 1: School Offerings - ISKS serves grades 7–12 and offers advanced coursework, honors, AP®, dual enrollment options, and credit recovery opportunities [2][4] - KSVA serves grades K–6 and provides a flexible, personalized learning environment with a proven online curriculum [5] - Both schools are taught by state-certified teachers and follow Kansas academic standards [1][3] Group 2: Enrollment Process - Families can apply for enrollment through the respective school websites or by calling a dedicated phone number [2] - Enrollment is open to students statewide, allowing for a broad reach across Kansas [2][3] Group 3: Educational Structure - Students in online public schools follow a structured academic schedule that includes live instruction, independent coursework, and regular teacher support [3] - Parents or guardians support daily learning at home while teachers deliver lessons and assess student progress [3] Group 4: Social Engagement - Students can participate in clubs, school activities, and in-person events throughout the year, fostering social interaction [3] - The K12 Zone offers a virtual campus for students to meet friends, play games, and attend various school events [3] Group 5: Accreditation and Recognition - Both ISKS and KSVA are accredited public schools authorized in Kansas, ensuring that students earn a high school diploma recognized by the state [3][4]

Core Insights - Enrollment is now open for the 2026–2027 school year at three K12-powered tuition-free virtual public schools in Alabama, which are Alabama Destinations Career Academy (ALDCA), Alabama Virtual Academy (ALVA), and Legends Virtual Academy (LVA) [1][8] - These schools provide full-time online education taught by state-certified teachers and are aligned with Alabama academic standards [1][4][5] Enrollment Information - Families can apply for enrollment through the respective school websites or by calling a designated phone number [2][8] - The schools serve students from grades K–12 and offer various educational pathways, including career and technical education (CTE) [2][3] Educational Offerings - The online public schools provide live, interactive instruction, advanced coursework, honors, AP® and dual credit options, and NCAA-approved courses for student-athletes [2][3] - Career pathways available include fields such as business, education, health science, IT, and manufacturing, allowing students to earn industry-recognized certifications [2][3][4] School Profiles - ALDCA focuses on career-oriented learning in high-demand fields and combines a proven online curriculum with certified teachers [4] - ALVA offers a flexible education with rigorous academics and opportunities for career readiness and extracurricular activities [5] - LVA provides a welcoming community and flexible learning options tailored to individual student needs [6] K12 Overview - K12 has been a leader in virtual education for 25 years, serving over three million students nationwide and offering various educational options including online public and private schools [7]

Core Insights - Enrollment is now open for the 2026–2027 school year at three K12-powered tuition-free virtual public schools in Wisconsin, which are Destinations Career Academy of Wisconsin (DCAWI), Insight School of Wisconsin (ISWI), and Wisconsin Virtual Academy (WIVA) [1][7] Enrollment Information - Families can apply for enrollment through the respective school websites or by calling a designated phone number [2] - Enrollment is available to students statewide, covering grades from 4K to 12 [2][3] School Offerings - DCAWI focuses on career and technical education for grades 9-12, providing pathways in various fields such as agriculture, business, construction, health sciences, IT, and law [2][4] - ISWI serves grades 9-12 and is designed to support students facing academic challenges, offering a flexible learning environment [2][5] - WIVA serves students from 4K to 12th grade, providing a high-quality education led by state-certified teachers [2][6] Educational Structure - All three schools offer a full-time online education taught by Wisconsin-certified teachers, with a structured academic schedule that includes live instruction and independent coursework [3] - The schools are Cognia-accredited, ensuring they meet rigorous academic and operational standards [2][3] Career Preparation - The online public schools provide career pathways and technical education opportunities, allowing high school students to explore careers and earn industry-recognized certifications [2][3] Additional Features - Students have access to clubs, school activities, and in-person engagement opportunities statewide [2][7] - The K12 Zone offers a virtual campus for students to socialize, participate in competitions, and attend events [7]

Core Insights - Rice Hall James & Associates, LLC increased its stake in Stride by purchasing 122,430 shares, bringing its total ownership to 1.5% of the fund's reportable assets under management [2][7] - The value of Stride's position fell by $17.7 million due to price movements and the acquisition of additional shares [2] - Stride's stock price as of February 16, 2026, was $84.89, reflecting a 39.5% decline over the past year and underperforming the S&P 500 by 51.2 percentage points [7] Company Overview - Stride has a market capitalization of $3.6 billion, with a revenue of $2.5 billion and a net income of $318.9 million for the trailing twelve months [4] - The company specializes in online and blended education services, offering scalable, individualized learning solutions across K-12 education, career readiness, and adult workforce training [6][8] - Stride's revenue is primarily generated through contracts with public and private educational institutions, as well as direct-to-consumer offerings [8] Recent Developments - The stock experienced a significant decline due to challenges in rolling out platform upgrades, which negatively impacted customer engagement and experience; however, these issues have largely been resolved [9]

Core Insights - Senator Markwayne Mullin has resumed stock purchases in 2026, following earlier acquisitions in January [1] - Mullin supports U.S. military actions in Iran, which may positively impact his investments in oil and defense companies [2] Stock Transactions - Recent stock transactions include purchases of Adobe, Amkor Technology, APi Group, Citigroup, Carpenter Technology, FirstCash Holdings, Stride, McKesson, Monolithic Power Systems, and VSE [4][6] - Specific transaction details indicate purchases ranging from $15,001 to $50,000 for multiple companies, while also selling shares in Applied Industrial Technologies, Coherent Corp, Credo Technology, Dell Technologies, Goldman Sachs, and MasTech [6] Market Capitalization - Several stocks purchased by Mullin, such as FirstCash, Stride, and VSE, have small market capitalizations, each valued under $10 billion [5] - VSE has secured significant government contracts, including a $565 million deal with the Air Force in 2023, highlighting its potential for growth [7]

Core Insights - Enrollment for the 2026–2027 school year is now open for tuition-free virtual public schools in Washington, specifically Insight School of Washington (ISWA) and Washington Virtual Academies (WAVA) [1][7] Group 1: School Offerings - ISWA and WAVA provide full-time online education for grades K-12, taught by Washington-certified teachers and aligned with state academic standards [1][4][5] - The schools offer career and technical education (CTE) pathways, allowing high school students to explore careers and earn industry-recognized certifications in various fields such as AV technology, business, health science, and IT [2][3] - Advanced coursework options, including honors, AP®, and dual credit, are available where applicable [2] Group 2: Educational Structure - Students follow a structured academic schedule that includes live instruction, independent coursework, and regular teacher support [3] - Instruction is provided by state-certified teachers, while parents or guardians support daily learning at home [3] Group 3: Social Engagement - Students can participate in clubs, school activities, and in-person events throughout the year, as well as join the K12 Zone for virtual social interactions [3] Group 4: Accreditation and Recognition - ISWA and WAVA are accredited public schools in Washington, allowing students to earn a high school diploma recognized by the state [3]