Fund Performance - Harbor Mid Cap Value Fund outperformed the Russell Midcap Value Index in Q4 2025, returning 4.07% compared to the index's 1.42% [1] - For the full year 2025, the Fund gained 15.95%, exceeding the benchmark's return of 11.05% [1] - The S&P 500 Index rose 2.7% in Q4 and 17.9% for the full year, while the Russell Midcap Index only increased by 0.2% in Q4 [1] Investment Strategy - The Fund's excess return of 2.82% in Q4 was primarily driven by selection effects, highlighting a quantitative value discipline focused on fundamental undervaluation, improving momentum, and risk control [1] - Management noted that mid- and small-cap value stocks are trading at more attractive multiples compared to AI-driven large-cap stocks, positioning the Fund to capitalize on opportunities in economically sensitive and cash-generative businesses [1] Company Focus: Amkor Technology, Inc. - Amkor Technology, Inc. is a semiconductor packaging and test services provider, with a one-month return of 0.39% and a market capitalization of approximately $11.999 billion [2] - The stock price of Amkor traded between $14.03 and $57.09 over the last 52 weeks, closing at about $48.52 on February 26, 2026 [2] - The Fund trimmed its position in Amkor due to concerns over valuation despite strong stock price momentum, as earnings and cash flow have not kept pace with the stock price increase [3]

Core Insights - The market surge in the previous year was primarily driven by AI spending and infrastructure development, rather than mere investor sentiment [1][2] - Earnings growth accounted for 13.6 percentage points of the S&P 500 Index's 17.9% return in 2025, indicating that companies generated more profits rather than investors simply paying higher prices for existing profits [2] Investment Landscape - Alger identifies approximately $4.2 trillion in annual private nonresidential fixed investment, which constitutes about 14% of U.S. GDP, with capital being deployed across various sectors including data centers and power infrastructure [3] - The Alger AI Enablers & Adopters ETF (ALAI) targets a diverse range of companies within the AI infrastructure ecosystem, suggesting a multi-trillion dollar spending wave beyond traditional tech names [4] Sector Performance - The projected U.S. AI infrastructure investment is estimated to reach around $10 trillion, with significant initiatives from major companies like Apple Inc. and collaborations such as Project Stargate over the next four years [6] - Power generation and electrical components are critical for building AI data centers, as AI queries require approximately ten times more computing power than traditional searches, leading to increased demand for electricity and cooling systems [7] Portfolio Composition - ALAI's portfolio includes major players like Nvidia Corp., Microsoft Corp., and Meta Platforms Inc., as well as lesser-known infrastructure companies such as Nebius Group and Talen Energy Corp [5][8] - The fund captures a wide range of companies supplying the necessary physical infrastructure to support AI workloads, indicating a comprehensive approach to investment in the AI sector [8] Market Trends - Communication services and information technology sectors have led the S&P 500 Index performance for three consecutive years, with industrials also showing strong performance, reflecting a market preference for companies engaged in capital spending themes beyond just AI [9]

Core Viewpoint - The article discusses the high valuations of U.S. equities, particularly the S&P 500, and argues that these valuations are justified by strong economic fundamentals rather than being overvalued [1] Group 1: Economic Fundamentals - Economic and earnings growth remain resilient, with global earnings revisions trending higher and profitability expanding beyond the technology sector [1] - Rising productivity and ongoing adoption of artificial intelligence (AI) are expected to reinforce record-level profit margins and long-term earnings growth [1] Group 2: Sector Performance - The technology sector contributes significantly to the high valuations of the S&P 500, as it has a higher price-to-earnings ratio compared to the index itself [1] - Earnings growth is broadening across various sectors and regions, including U.S. small-cap stocks and international equities in Japan and Europe [1] Group 3: Investment Strategies - The BNY Mellon Concentrated Growth ETF (BKCG) offers a focused approach to investing in large-cap securities, aiming to capitalize on opportunities within the S&P 500 [1] - BKCG employs a buy-and-hold strategy, selecting 25-35 companies based on fundamental analysis, which allows for returns driven by individual stock performance rather than overall market momentum [1] - As of December 31, 2025, BKCG's net asset value (NAV) increased by 14.58% year-to-date, demonstrating the effectiveness of its concentrated investment strategy [1]

Core Viewpoint - B. Riley has lowered the price target for Blackstone Secured Lending Fund (BXSL) to $27 from $30 while maintaining a Buy rating on the shares, indicating a cautious outlook due to macroeconomic factors affecting the broader BDC group rather than specific weaknesses in Blackstone Secured's earnings [1] Summary by Category - **Price Target Adjustment** - The price target for BXSL has been reduced to $27 from $30 [1] - **Rating** - B. Riley continues to hold a Buy rating on BXSL shares [1] - **Reason for Adjustment** - The reduction in price target is attributed to macro moderations across the BDC group, not due to any specific earnings weakness of Blackstone Secured [1]

Piper Sandler analyst Paul Newsome raised the firm’s price target on Slide Insurance (SLDE) to $24 from $22 and keeps an Overweight rating on the shares following quarterly results. The firm notes top-line growth was better than it and consensus expected. Guidance for 2026 was for top-line and bottom-line growth that is better than Piper expected as well. The firm thinks Slide had a solid quarter. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try No ...

The Harbor Capital Advisors released its “Mid Cap Value Fund’s” Q4 2025 investor letter. A copy of the letter can be downloaded here. Harbor Mid Cap Value Fund, subadvised by LSV Asset Management, delivered solid outperformance in the fourth quarter of 2025, with the Institutional Class returning 4.07% versus 1.42% for the Russell Midcap Value Index, benefiting from strength in value stocks as the Russell Midcap Growth Index declined 3.7% during the period. U.S. equities broadly advanced, with the S&P 500 ...

Nvidia Corp. (NASDAQ:NVDA) shares tumbled after what analysts called a blowout fourth quarter, but for Lawrence McDonald, the headline wasn’t the story — the market’s reaction was.McDonald Invokes the Dot-Com PlaybookWriting on X on Thursday, McDonald founder of The Bear Traps Report flagged an uncomfortable pattern. “Off 5% on the ‘blowout quarter’ — anyone that lived through the dotcom bust will tell you, the Nasdaq puked lower in March 2000 on great news. It’s NOT the headline, it’s the market’s response ...

Nasdaq Copenhagen Nikolaj Plads 6DK-1067 Copenhagen K Copenhagen, 27 February 2026ANNOUNCEMENT no. 4/2026 CEMAT A/SCompany reg. (CVR) no. 24 93 28 18Annual general meeting The Board of Directors hereby convene the annual general meeting of Cemat A/S (the "Company") for Tuesday, 24 March 2026, at 1:00 pm at the office of DLA Piper Denmark, Oslo Plads 2, 2100 Copenhagen OE, Denmark. Agenda The agenda of the annual general meeting is the following: The management's report on the Company's activities during th ...

Guardforce AI (GFAI) announced the extension of its partnership to provide smart retail business solutions to the Thailand branch of a renowned global sportswear brand. Under the extended partnership, Guardforce AI acts as an important technology partner in the client’s ongoing national renovation plan. The Company has received the first batch of requests to deploy its smart retail solutions at five additional retail locations in 2026, and one more installation scheduled for 2027. Previously, the Company d ...

Key Takeaways AES and Entergy expand renewables and grid tech to meet rising clean energy demand.AES targets coal exit, posts 18.83% ROE and 16.8% three-month share gains.Entergy plans $43B in 2026-2029 capex, advancing renewables and AI-driven grid ops.The demand for clean electricity is accelerating worldwide, supported by a combination of long-term structural trends and rapid technological advances. As this need intensifies, utility companies like AES Corporation (AES) and Entergy Corporation (ETR) are b ...