Core Viewpoint - F&G Annuities & Life (FG) shares have underperformed, losing approximately 30% of their value over the past year due to concerns about capital allocation and private credit exposure [1] Company Performance - The stock faced initial challenges in 2025 related to capital allocation, which negatively impacted its performance [1] - Recent fears regarding the company's exposure to private credit have further contributed to the decline in share value [1]

Core Viewpoint - Invitation Homes (INVH) shares have underperformed over the past year, losing approximately 15% of their value due to concerns regarding declining home prices and weak rental inflation [1] Company Performance - The stock has faced challenges attributed to macroeconomic factors affecting the housing market, particularly lower home prices and rental inflation trends [1] Investment Insights - The analysis suggests a contrarian approach may be beneficial, focusing on macro views and specific turnaround stories to achieve favorable risk/reward profiles [1]

Core Viewpoint - Equitable Holdings (EQH) has shown modest performance over the past year, with a gain of approximately 4% [1] Group 1: Company Performance - The company is actively repurchasing stock and has undergone a significant reinsurance transaction to transform its business [1] - Mixed results have been observed throughout the year, indicating variability in performance metrics [1] Group 2: Analyst Insights - The analyst has over fifteen years of experience in making contrarian bets based on macro views and stock-specific turnaround stories [1] - The focus is on achieving outsized returns with a favorable risk/reward profile [1]

Core Viewpoint - Pool Corporation (POOL) has experienced a significant decline in share value, losing 37% over the past year due to a weak pool construction market and consumers postponing expensive discretionary purchases [1] Company Performance - The company's stock performance has been poor, with a 37% decrease in value over the last year [1] Market Conditions - The pool construction market remains persistently weak, impacting consumer spending on discretionary items [1]

Core Viewpoint - Shares of Church & Dwight Co., Inc. (CHD) have underperformed over the past year, losing approximately 20% of their value due to high multiples, concerns over tariff costs, and subdued consumer spending [1] Company Performance - The stock has been negatively impacted by a high valuation multiple, which has contributed to its decline [1] - Concerns regarding potential tariff costs have also weighed on the stock's performance [1] - A general trend of muted consumer spending has further exacerbated the challenges faced by the company [1]

Core Viewpoint - Shares of Church & Dwight Co., Inc. (CHD) have underperformed over the past year, losing approximately 20% of their value due to high multiples, concerns over tariff costs, and subdued consumer spending [1] Company Performance - The stock has been negatively impacted by a high valuation multiple, which has contributed to its decline [1] - Concerns regarding potential tariff costs have also weighed on investor sentiment [1] - A general trend of muted consumer spending has further exacerbated the company's stock performance [1]

Core Viewpoint - NMI Holdings (NMIH) has shown modest performance over the past year with a gain of only 1%, but it is growing more quickly compared to other mortgage insurers, resulting in a smaller legacy portfolio of low-risk policies [1] Company Performance - NMIH's stock performance has been relatively stable, gaining just 1% over the past year [1] - The company is experiencing faster growth compared to its peers in the mortgage insurance sector [1] Portfolio Analysis - NMIH maintains a smaller legacy portfolio of low-risk policies, which may contribute to its growth potential and risk profile [1]

Core Viewpoint - American Homes 4 Rent (NYSE: AMH) has experienced a decline of approximately 16% in value over the past year, raising investor concerns regarding home values and rental inflation due to signs of weakening shelter demand [1] Company Performance - The company has been identified as a poor performer in the market, with a significant loss in value over the last year [1] Market Concerns - Investors are increasingly worried about the implications of declining home values and rising rental inflation, which are contributing to a perceived weakening in shelter demand [1]

Core Insights - KKR & Co. Inc. has shown strong performance over the past year, with a gain of over 30% [1] - The company's growth has been supported by rising market levels, which have positively impacted its assets under management (AUM) [1] - Recent regulatory actions have increased optimism regarding potential fund flows, contributing to the rise in share prices [1] Company Performance - KKR's stock performance reflects a significant increase, attributed to favorable market conditions [1] - The increase in AUM is a direct result of the overall market uptrend, enhancing the company's financial standing [1] Market Sentiment - Regulatory developments have fostered a more positive outlook for the company, suggesting potential for increased investment inflows [1]

Group 1 - Capital One Financial's shares have increased by 43% over the past year, attributed to the successful acquisition of Discover and strong consumer credit results [1] - The company has demonstrated resilience in consumer credit performance, outperforming many competitors in the market [1]