Core Insights - Artisan Mid Cap Value Fund's third-quarter 2025 performance was below the Russell Midcap Value Index, with returns of 0.97% for Investor Class and 0.98% for Advisor Class, compared to 6.18% for the index [1] Fund Performance - The fund's Investor Class returned 0.97%, Advisor Class returned 0.98%, and Institutional Class returned 0.97% in Q3 2025 [1] - The Russell Midcap Value Index achieved a return of 6.18% during the same period [1] Market Context - Equity markets rallied in Q3 2025, driven by strong corporate earnings, rising AI capital expenditures, and expectations of economic support from US fiscal policy and lower interest rates [1] Company Focus: Polaris Inc. - Polaris Inc. (NYSE: PII) is highlighted as a top contributor, with a one-month return of -0.28% and a 52-week gain of 13.91% [2] - As of January 2, 2026, Polaris Inc. shares closed at $66.48, with a market capitalization of $3.739 billion [2] Operational Challenges and Strategies - Polaris faced a weak retail environment and high dealer inventories, leading to margin pressures due to increased promotional activities and financing assistance [3] - The company is addressing tariff impacts by reducing sourcing from China and increasing sourcing from Mexico and other countries with lower trade barriers [3] - Historical management has shown operational discipline by divesting less profitable businesses and focusing on core powersports operations [3] - Despite a challenging retail backdrop, Polaris remains well financed, with strong returns on tangible capital typically in the mid-to-high teens [3]

Core Viewpoint - The article emphasizes the importance of conducting thorough due diligence and research before making any investment decisions, highlighting that past performance does not guarantee future results [2][3]. Group 1 - The author has no financial positions in the companies mentioned and does not plan to initiate any within the next 72 hours [1]. - The article is not structured as financial advice and is intended for informational purposes only [2]. - Investors are encouraged to consult tax professionals regarding the implications of dividend withholding taxes when investing in European or non-US stocks [2]. Group 2 - The article clarifies that Seeking Alpha does not provide licensed investment advice and that the views expressed may not reflect the platform's overall stance [3]. - Analysts contributing to Seeking Alpha may include both professional and individual investors, some of whom may not be certified by regulatory bodies [3].

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1][2] - The investment group targets high-yield, dividend growth opportunities, offering portfolios with dividend yields up to 10% [2] - The service provides research on various investment vehicles including REITs, ETFs, closed-end funds, preferreds, and dividend champions [2] Group 2 - A contrarian mindset is emphasized, particularly for strong brand names under cyclical pressure, suggesting potential investment opportunities [2] - The investment approach is defensive in nature, aimed at medium- to long-term horizons [2]

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1][2] - The investment group targets high-yield, dividend growth opportunities, offering portfolios with dividend yields up to 10% [2] - The service provides research on various investment vehicles including REITs, ETFs, closed-end funds, preferreds, and dividend champions [2] Group 2 - A contrarian mindset is emphasized, particularly for strong brand names under cyclical pressure, suggesting potential investment opportunities [2] - The investment approach is defensive in nature, aimed at medium- to long-term horizons [2]

Core Viewpoint - The focus is on identifying investment opportunities in companies that offer healthy dividends and have potential for capital appreciation, particularly in the HVAC industry [1]. Group 1: Investment Strategy - The investment strategy emphasizes finding undervalued companies based on their fundamentals, peers, and historical performance [1]. - A preference for companies with high odds for capital appreciation driven by foreseeable catalysts is highlighted [1]. - The approach aims to reward shareholders through both dividends and capital gains [1]. Group 2: Industry Focus - The HVAC industry is specifically mentioned as a sector of professional involvement prior to transitioning to private investment [1].

Core Insights - Applied Digital (APLD) is expanding its operations with the development of Polaris Forge 2, a large-scale data center campus aimed at meeting the growing demand for AI infrastructure, starting with an initial capacity of 300 megawatts and a potential to scale to 1 gigawatt [2][4] - The company has secured full lease commitments for its first campus, Polaris Forge 1, at 400 megawatts, generating approximately $11 billion in long-term contracted revenues, indicating a strong market position [2][4] - The Zacks Consensus Estimate projects APLD's fiscal 2026 revenues to reach $280.9 million, reflecting a year-over-year increase of 30.39% as the company approaches commercial deployment of additional capacity [2][8] Industry Context - The development of Polaris Forge 2 is timely, as the demand for liquid-cooled, high-density AI infrastructure is currently outpacing supply, providing a competitive edge for developers who can deliver large-scale capacity efficiently [3] - APLD's focus on purpose-built infrastructure aligns with the needs of hyperscalers, positioning the company favorably against competitors like Riot Platforms and Equinix, which are also expanding their capacities [5] Financial Performance - APLD's stock has experienced a significant increase of 182.1% over the past six months, outperforming the broader Zacks Finance sector, which returned 10.1%, and the Zacks Financial-Miscellaneous Services industry, which declined by 4.2% [6] - The company's forward 12-month price/sales ratio stands at 18.24X, indicating that APLD may be overvalued compared to the broader sector's ratio of 9.08X [10] - The Zacks Consensus Estimate for APLD's fiscal 2026 loss is projected at 31 cents per share, consistent with the previous year's loss of 80 cents per share, while the company holds a Zacks Rank 2 (Buy) [13]

Core Insights - Polaris RZR Factory Racing achieved a historic clean sweep in 2025, winning the UTV Overall at every major off-road event, including Dakar, King of the Hammers, Mint 400, Vegas to Reno, and the SCORE Series, showcasing their dominance in the industry [1][2][10] Performance Highlights - The 2025 season began with a significant victory at the 47th Dakar Rally, where rookie driver Brock Heger led the field for 10 consecutive stages, winning by over two hours, marking him as one of only four rookies to win this prestigious event [3] - Heger continued the momentum by winning the King of the Hammers, achieving a decisive victory and becoming the only driver to finish in under four hours, securing the UTV Triple Crown [4] - At the Mint 400, Heger dominated the UTV Pro Open class and overall, reaching speeds of up to 118 mph and leading a Polaris sweep of the top 10 spots [5] - The SCORE Desert Series saw Heger capture his sixth straight win at the San Felipe 250, leading Polaris to nine of the top 10 finishing positions, followed by a historic 1-2-3 sweep at the Baja 500 [6] - Polaris also conquered the Vegas to Reno race, with Mitch Guthrie Jr. winning the overall UTV race and finishing second among all four-wheeled vehicles [7] - The season concluded with a third consecutive UTV overall victory at the Baja 1000, completing a clean sweep of the 2025 SCORE Desert Championship [8] Technical Excellence - The dominance of Polaris RZR was driven by the race-proven RZR Pro R Factory platform, which features an FIA-spec chassis, long-travel suspension, and a race-tuned ProStar Fury 2.0L engine, demonstrating unmatched reliability and control in challenging environments [9]

Core Insights - The Zacks Domestic Auto industry is poised for growth driven by affordable electric vehicles (EVs) and proposed tax incentives, despite economic challenges and rising tariffs [1][3][4] Industry Overview - The Zacks Domestic Auto industry encompasses companies involved in the design, manufacturing, and retailing of various vehicles, including passenger cars, trucks, and electric vehicles [2] - The industry is highly consumer cyclic and plays a significant role in employment and innovation, particularly in electric and autonomous vehicle development [2] Factors Shaping the Industry's Prospects - The introduction of more affordable EVs, priced at $35,000 or below, is expected to increase consumer adoption, countering the impact of higher tariffs on foreign competitors [3] - Proposed tax incentives, allowing buyers of U.S.-assembled vehicles to deduct up to $10,000 in interest on auto loans, are anticipated to stimulate demand for new vehicles [4] Market Performance - The Domestic Auto industry has underperformed compared to the broader auto sector and the S&P 500, with a return of 6.3% over the past year, while the sector and S&P 500 grew by 7.1% and 14.5%, respectively [10] Current Valuation - The industry is currently trading at an EV/EBITDA ratio of 53.06X, significantly higher than the S&P 500's 18.63X and the sector's 25.8X, indicating a premium valuation compared to historical levels [13] Company Highlights - **General Motors (GM)**: Holds a 16.5% share of the U.S. auto market, with strong demand for its brands and upcoming product launches expected to drive growth. GM has a Zacks Rank 1 (Strong Buy) and positive earnings revisions for 2025 and 2026 [14][15] - **Polaris Inc. (PII)**: Reported $1.8 billion in revenues for Q3 and expects adjusted sales of $6.9 billion to $7.1 billion for 2025. PII also holds a Zacks Rank 1, with significant earnings surprises in recent quarters [20][21] - **Blue Bird Corporation (BLBD)**: Focuses on school buses and alternative fuel applications, projecting fiscal 2026 revenues of $1.5 billion and continued growth. BLBD has a Zacks Rank 2 (Buy) and positive earnings revisions for 2026 [23][24]

Core Insights - Polaris Slingshot has launched its 2026 model year lineup, featuring a limited-edition Grand Touring model and a variety of premium paint options designed to enhance the driving experience [1][2]. Product Features - The 2026 Slingshot Grand Touring model combines unique style with enhanced comfort, showcasing a two-tone Viper Black and Green Venom paint scheme with a color-shifting effect [3][4]. - The Grand Touring model includes factory accessories for improved comfort and functionality, such as a color-matched Slingshade and rear fender, along with custom-stitched heated and cooled seats [4]. - It is powered by a Polaris-built ProStar 2.0L four-cylinder engine, delivering 204 horsepower, and offers two driving modes: Comfort and Slingshot [5]. Technology and Comfort - The Grand Touring model features advanced technology, including a Rockford Fosgate® Stage 3 Max + Lighting system with 700 watts of sound and an XKGlow® Interior Lighting kit, which can be controlled via a mobile app [6]. - The subscription-based RIDE COMMAND+ service provides real-time weather and traffic overlays, vehicle locator, and health monitoring, with the first year offered for free [6]. Aesthetic Enhancements - The 2026 lineup introduces new paint colors and iridescent finishes across various models, enhancing the visual appeal of the Slingshot [7][8]. - Notable new colors include White Lightning, Sunburst Orange, and Mirage Gray, with the top-tier Slingshot R featuring premium paint options like Radiant Gray with Red Indy Pearl [9][10]. Wheel Design - The 2026 models, particularly the SLR and R, feature new five-spoke honeycomb wheels that improve performance and enhance the overall aesthetic [11]. Pricing Information - The pricing for the 2026 Slingshot models starts at $24,999 for the base S model and goes up to $44,149 for the Grand Touring model, reflecting the premium features and finishes [16].

Core Insights - Godfrey Pontoon Boats announced a complete redesign of its Sanpan and Monaco series for the 2026 model year, focusing on durability, comfort, and versatility for family activities on the water [1][2]. Product Features - The 2026 Sanpan models include enhanced comfort features and versatile designs suitable for various water activities [2]. - The 2026 Monaco models also emphasize comfort and functionality, catering to boaters' needs for relaxation and entertainment [2]. - Both models feature the new Click & Cruise modular accessory mounting system, allowing for easy personalization of pontoons [3]. - The updated helm includes a 12-inch multifunction display, digital switching, and a custom user interface for improved navigation and control [3]. - A new Grand Luxe Arch provides instant shade and enhances the aesthetic appeal of the pontoon [3]. - The SeaView bow gate allows pets to enjoy the ride with a clear view from the front [3]. - NytCruz Auto Navigation and Anchor Lights automatically activate, reducing the need for manual control [3]. - Ergonomically designed furniture and new heated and cooled helm seat options enhance comfort for all seasons [3]. Company Background - Godfrey Pontoon Boats is a manufacturer known for its high-quality pontoons, emphasizing craftsmanship and durability [1]. - The company is a subsidiary of Polaris Industries Inc., a leader in the powersports industry, offering a wide range of outdoor vehicles and accessories [5].