Core Insights - Longleaf Partners Fund reported a return of 3.35% in Q4 2025, outperforming the S&P 500's 2.66% but underperforming the Russell 1000 Value Index's 3.81% return, indicating a challenging year without standout performers [1] - The firm emphasizes strengthening portfolio outcomes over chasing short-term winners, suggesting a strategy focused on real companies during periods of excessive speculation [1] Company Highlights - IAC Inc. (NASDAQ:IAC) is highlighted as a leading media and internet company, with a one-month return of -3.167% and a 52-week gain of 13.37%, closing at $39.51 per share with a market capitalization of $3.167 billion on January 16, 2026 [2] - IAC's strategy includes disposing of all assets except for People Inc. and a 25% stake in MGM Resorts, with plans for share repurchase and increasing its stake in MGM to address valuation disconnects [3] - The spinoff of Angi, a home services marketplace, was a significant move for IAC, with the firm purchasing more shares post-spin at a depressed price, indicating confidence in Angi's turnaround [3] Industry Context - MGM Resorts faced a weaker performance in Las Vegas in 2025 due to tough comparisons from previous years, but strong results from BetMGM and regional properties helped stabilize the business [3] - The market narrative suggests that Las Vegas has peaked, but both IAC and MGM believe that the unique appeal of Las Vegas cannot be replicated, positioning MGM as a market leader [3] - MGM's management has made strategic corrections, including selling lower-quality properties at higher multiples and withdrawing from a New York City casino bid, which has allowed for significant share repurchases over the past five years [3]

Companies such as Angi and Tailwind have said they're trimming staff this year. Most recently, Angi cited AI as a factor in its decision to shed around 350 jobs. See the list of companies letting workers go in 2026. The year 2026 is just getting started, and layoffs are already underway. Companies, including Angi, the company formerly known as Angie's List, and the popular web tool Tailwind, have cut staff, citing the impact of artificial intelligence among the reasons for the layoffs. More than ...

Core Viewpoint - Angi, formerly known as Angie's List, is laying off approximately 350 employees to reduce operating expenses and optimize its organizational structure, citing AI-driven efficiency improvements as a key factor [1][3]. Group 1: Layoffs and Financial Impact - The layoffs are expected to save Angi between $70 million and $80 million in annual spending [1]. - The cost of the layoffs is estimated to be between $22 million and $30 million [1]. Group 2: Company Background - Angi started in the 1990s as a database for homeowners to find contractors for home improvement and lawn care projects, and it rebranded in 2021 [2]. - As of the end of 2024, Angi had approximately 2,800 employees according to its latest annual filing [2]. Group 3: Industry Trends - Executives from various tech companies, including Amazon and Salesforce, have indicated a trend of replacing some human workers with AI [2]. - Geoffrey Hinton, a prominent computer scientist, has predicted that job losses due to AI will increase significantly by 2026 [3].

“You’ll want to make a pass around your house to make sure that all your windows are closed and locked, as well as any side or back doors,” Angie Hicks, co-founder of home improvement resource site Angi, suggests. https://t.co/wjelGCNRO7 https://t.co/5BYXGRIQWK ...