Jacobs Solutions (J) Poised to Thrive Amidst AI Revolution

Fund Performance - Platinum International Technology Fund achieved a 3% return in Q4 2025 and a 13.1% return for the entire year, outperforming the benchmark returns of 2.5% and 12.4% respectively [1] - The depreciation of the U.S. Dollar negatively impacted both the Fund and Benchmark returns when measured in Australian dollars [1] Market Environment - The market was characterized as 'risk-on', with defensive sectors such as Real Estate and Consumer Staples underperforming, while discretionary consumer businesses showed mixed results [1] - For 2026, the firm anticipates a similar investment environment as in 2025 and 2024, aiming to avoid extreme events [1] Company Focus - Jacobs Solutions Inc. (NYSE:J) is highlighted as a key stock, providing infrastructure and advanced facilities, with a market capitalization of $14.74 billion [2] - The stock of Jacobs Solutions Inc. experienced a one-month return of -10.14% and a 52-week gain of 3.37% [2] Investment Outlook - Jacobs Solutions Inc., along with Microsoft and Uber, detracted from the Fund's quarterly returns by between 0.5% and 0.8% each, but the company is viewed positively for the long term [3] - The engineering services industry is facing potential disruption from AI, but Jacobs Solutions is expected to be a net beneficiary of the AI revolution, with management actively investing in AI to enhance efficiencies [4][5]