Core Viewpoint - The Goldman Sachs Group, Inc. has seen a significant stock performance increase of nearly 70% over the past year, driven by volatile markets, substantial advisory activity, and high levels of debt issuance [1] Group 1: Stock Performance - Goldman Sachs shares have gained nearly 70% in the past year [1] - The company has benefited from favorable market conditions, including volatility and increased advisory activity [1] Group 2: Market Conditions - The current market environment has shown no signs of slowing down, suggesting continued positive momentum for Goldman Sachs [1]

Core Viewpoint - First Horizon Corporation (FHN) has shown strong performance over the past year, with a gain of approximately 15% [1] Company Positioning - The bank is well positioned with a strong presence in the Southeast region of the United States [1] - First Horizon has limited exposure to commercial real estate, which may mitigate certain risks [1]

Core Viewpoint - Delek US Holdings has shown strong performance over the past year with a 52% increase in share value, attributed to improved regulatory activities enhancing the company's financial position. However, shares have recently declined by approximately 25% from their peak levels [1]. Group 1 - The company has gained 52% in share value over the past year [1]. - Regulatory activities have significantly improved the financial position of Delek US Holdings [1]. - There has been a recent decline of about 25% in share prices from their recent highs [1].

Core Viewpoint - The Bank of New York Mellon Corporation (BK) has shown strong performance over the past year, with shares increasing by over 50% due to rising equity markets and elevated interest rates [1] Company Performance - BK's stock performance has been significantly influenced by favorable macroeconomic conditions, particularly the combination of rising equity markets and high interest rates [1] Investment Strategy - The article highlights a contrarian investment approach based on macro views and stock-specific turnaround stories, aiming for outsized returns with a favorable risk/reward profile [1]

Group 1 - Huntington Bancshares (HBAN) has shown solid performance over the past year, with shares gaining just under 10% [1] - The year 2025 was transformative for Huntington Bancshares, as the company completed two acquisitions to scale up and expand into higher-growth markets [1]

Core Viewpoint - CarMax, Inc. (KMX) shares have significantly underperformed over the past year, losing approximately 50% of their value due to weak sales driven by affordability pressures on lower-income consumers, which has also led to the departure of its CEO [1] Company Performance - The used car retailer has faced challenges with sales, particularly among lower-income consumers who are experiencing financial strain [1] Leadership Changes - The departure of the CEO is a notable event linked to the company's struggles, indicating potential issues in management or strategy [1]

Core Insights - Analysts are preparing their predictions for 2026 as December approaches its end, reflecting on the strong performance of markets in 2025, particularly noting that the S&P 500 increased by 12% [1] Group 1 - The article emphasizes the importance of macro views and stock-specific turnaround stories in making contrarian bets to achieve outsized returns with a favorable risk/reward profile [1]

Core Insights - Equity LifeStyle Properties, Inc. (ELS) has experienced a decline of approximately 14% in share value over the past year, indicating poor performance in the market [1] - The company's business remains relatively stable; however, concerns regarding valuation and decreasing demand from Canada have negatively impacted its stock this year [1] Company Performance - ELS shares have lost about 14% of their value in the last year, reflecting a challenging market environment [1] - Despite the stable nature of the company's operations, external factors such as valuation concerns and demand fluctuations from Canada have contributed to the decline in share price [1]

Group 1 - The Campbell's Company (CPB) has experienced a significant decline in stock performance, losing approximately one-third of its value over the past year [1] - The company is facing challenges due to weak sales in its snacks segment and a heavily indebted balance sheet [1]

Core Insights - UMB Financial (UMBF) shares have underperformed over the past year, losing approximately 7% of their value [1] - The company has made significant progress in integrating its acquisition of Heartland Financial, but shares have been negatively impacted by a previously high valuation [1] Company Performance - UMBF shares have decreased in value by about 7% over the last year [1] - The integration of Heartland Financial has been progressing well, indicating potential for future growth [1] Valuation Concerns - The decline in UMBF shares is attributed to a previously elevated valuation, suggesting that market perceptions may have shifted [1]