Group 1 - Ardagh presents an attractive risk/reward setup with potential upside of up to 60% [1] - The potential valuation re-rate could stem from improvements in the company's capital structure, which would reduce associated risks [1] - The focus is on special situations and deep value plays, with an openness to long/short positioning to capture market inefficiencies [1] Group 2 - Long positioning aims to identify asymmetric opportunities where downside risk is limited and upside potential is underestimated by the market [1] - Examples of such opportunities include restructurings, spin-offs, and takeover targets [1]

Core Viewpoint - FS Credit Opportunities Corp. (FSCO) announced a 5.1% increase in its monthly distribution rate for June 2025, reflecting strong income generation from select investments and a commitment to delivering value to shareholders [1][2]. Distribution Details - The new monthly distribution rate is set at $0.0678 per share, which is a 59.5% increase compared to the distribution at the time of listing on the New York Stock Exchange in November 2022 [2]. - This marks the fourth increase in the distribution over the last twenty-four months [2]. - The distribution will be paid on or about June 30, 2025, with an ex-date and record date of June 23, 2025 [4]. Financial Performance - The current annualized distribution yield is approximately 10.5% based on the Fund's net asset value (NAV) and 10.7% based on the market price as of May 30, 2025 [2]. - The monthly distribution has been fully covered by the Fund's net investment income throughout 2025 on a tax basis [2]. - The Fund has generated an estimated total return of 7.2% on NAV and 10.8% on market price year-to-date through May 30, 2025 [2]. Fund Overview - FSCO manages approximately $2.2 billion in assets and focuses on event-driven credit, special situations, private capital solutions, and other non-traditional credit opportunities [3]. - FS Investments, the parent company, manages over $82 billion in assets and provides access to a broad suite of alternative asset classes and strategies [7].

Core Points - FS Credit Opportunities Corp. announced a monthly distribution of $0.0645 per share for May 2025, payable on May 30, 2025 [1] - The current annualized distribution yield is 10.7% based on the Fund's net asset value (NAV) and 11.1% based on market price as of April 30, 2025 [2] - The Fund has approximately $2.1 billion in assets under management, focusing on event-driven credit, special situations, and private capital solutions [3] Distribution Details - The distribution schedule includes an ex-date and record date of May 22, 2025, with payment on May 30, 2025 [4] - Monthly distributions are regular cash payments to common shareholders, which may be adjusted based on portfolio and market conditions [4] Fund Performance - The monthly distribution has been fully covered by the Fund's net investment income throughout 2025 [2] - The Fund has generated an estimated total return of 4.5% on NAV and 5.9% on market price year-to-date through April 30, 2025 [2] Company Overview - FS Investments manages over $82 billion in assets and provides access to a variety of alternative asset classes and strategies [7] - The firm employs more than 500 individuals across offices in the U.S., Europe, and Asia, with headquarters in Philadelphia [7]

Core Insights - ACCO Brands Corporation's share price dropped by 20% after the release of its Q4/2024 earnings report, indicating significant market reaction to the financial results [1] - The company's revenues have been on a steady decline since 2021, highlighting ongoing challenges in its financial performance [1] - The macroeconomic environment has been described as soft, which has negatively impacted the company's operations [1] - Tariffs have also been identified as a contributing factor to the company's financial difficulties [1]