Core Viewpoint - Neuberger Berman Next Generation Connectivity Fund Inc. has declared a distribution of $0.10 per share, payable on August 29, 2025, with a record and ex-date of August 15, 2025 [1] Distribution Policy - The Fund plans to maintain regular monthly distributions of $0.10 per share, subject to market conditions, but there is no guarantee of this amount being maintained [2] - Future distributions may include net investment income, net realized capital gains, and return of capital, with notifications provided for any distributions not solely consisting of net investment income [3] Company Overview - Neuberger Berman is an employee-owned investment manager founded in 1939, managing $538 billion across various asset classes for global institutions and individuals [4] - The firm has over 2,800 employees in 26 countries and has been recognized as one of the best places to work in money management for eleven consecutive years [4]

Core Viewpoint - Neuberger Berman High Yield Strategies Fund Inc. has declared a distribution of $0.0905 per share, payable on August 29, 2025, with a record and ex-date of August 15, 2025 [1] Distribution Policy - The Fund plans to maintain regular monthly distributions of $0.0905 per share, subject to market conditions, with the sustainability of this rate dependent on income stability, leverage costs, and other fees [2] - Future distributions may include net investment income, net realized capital gains, and return of capital, with compliance to the Investment Company Act of 1940 [3] Company Overview - Neuberger Berman is an independent investment manager founded in 1939, managing $538 billion across various asset classes for global institutions and individuals, with a focus on active management and fundamental research [4]

Core Viewpoint - Neuberger Berman Energy Infrastructure and Income Fund Inc. has declared a distribution of $0.0584 per share, payable on August 29, 2025, with a record and ex-date of August 15, 2025 [1] Distribution Details - The Fund intends to make regular monthly cash distributions at a fixed rate per share, based on projected net rate of return and other factors, subject to ongoing review [2] - Distributions will be paid from distributable cash flow, which includes cash from MLPs, dividends, interest, and other income, minus operating expenses and taxes [2] Tax Implications - A portion of distributions may be classified as a non-taxable return of capital, which reduces the stockholder's basis in Fund shares, potentially increasing capital gains or reducing capital losses upon sale [3] - The Fund is subject to federal income tax on its taxable income, which may result in lower distributions compared to direct investments in MLPs [5] Compliance and Reporting - In accordance with the Investment Company Act of 1940, the Fund will provide notices for distributions not solely consisting of net investment income, detailing estimated portions of net investment income, capital gains, and return of capital [4]

Core Viewpoint - The market anticipates Victory Capital Holdings (VCTR) will report a year-over-year increase in earnings and revenues for the quarter ended June 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Victory Capital is expected to report earnings of $1.45 per share, reflecting a year-over-year increase of 10.7%, and revenues of $335.82 million, which is a 52.9% increase from the previous year [3]. - The earnings report is scheduled for release on August 7, and better-than-expected results could lead to a stock price increase, while disappointing results may cause a decline [2]. Estimate Revisions - The consensus EPS estimate has been revised 1% lower in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Victory Capital matches the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, but its predictive power is stronger for positive readings [9][10]. - Victory Capital's current Zacks Rank is 3, making it challenging to predict an earnings beat conclusively [12]. Historical Performance - In the last reported quarter, Victory Capital was expected to earn $1.38 per share but reported $1.36, resulting in a surprise of -1.45% [13]. - Over the past four quarters, the company has beaten consensus EPS estimates two times [14]. Industry Comparison - TPG Inc., another player in the investment management industry, is expected to report earnings of $0.45 per share, reflecting a year-over-year decrease of 8.2%, with revenues projected at $466.4 million, a 1.6% increase [18][19]. - TPG's consensus EPS estimate has been revised 2.7% higher in the last 30 days, but it also has an Earnings ESP of 0% and a Zacks Rank of 3 [20].

Company Overview - AMG has partnered with leading investment specialists for over 30 years[2] - AMG has approximately $771 billion in Assets Under Management (AUM)[2, 63] - AMG's strategy supports compounding of earnings growth at an industry-leading rate[9] Asset Allocation and Growth - Liquid Alternatives AUM is approximately $182 billion[6] - Differentiated Long-Only AUM is approximately $440 billion[6] - Private Markets AUM is approximately $149 billion[6] - Over 50% of EBITDA is from High-Growth Areas[8] Financial Performance - The company has approximately $2 billion in 2024 Annual Economic Net Income[46] - Approximately $2.8 billion in excess capital was returned over the last 5 years[52] - The company has repurchased approximately 10% of shares annually over the last 5 years[52] - The average repurchase price over the last 5 years was $140[52] - Adjusted EBITDA increased from $795 million in 2020 to $973 million in 2024[56]

Financial Performance - Second Quarter 2025 - Revenues increased by 18% to $1,347.6 million compared to $1,139.4 million in Q2 2024[2,8] - Net Revenues increased by 16% to $1,185.9 million compared to $1,018.0 million in Q2 2024[2,29] - Adjusted EBITDA increased by 16% to $180.2 million compared to $155.6 million in Q2 2024[2,25] - Adjusted EPS increased by 26% to $1.72 compared to $1.36 in Q2 2024[2] - GAAP diluted EPS decreased by 89% to $0.08 compared to $0.73 in Q2 2024[2] Financial Performance - First Half 2025 - Revenues increased by 16% to $2,488.8 million compared to $2,141.3 million in the first half of 2024[2,30] - Net Revenues increased by 14% to $2,179.6 million compared to $1,908.7 million in the first half of 2024[2,30] - Adjusted EPS increased by 22% to $2.59 compared to $2.13 in the first half of 2024[2] Segment Performance - Engineering revenue increased by 67% in USD and 65% in local currency compared to Q2 2024[9,16] - Real Estate Services revenue increased by 4% in both USD and local currency compared to Q2 2024[9,12] - Investment Management revenue remained flat with 0% growth in both USD and local currency compared to Q2 2024[9,19] Capitalization and Liquidity - Net Debt stood at $1,556.9 million as of June 30, 2025[21] - The company has $900 million of available liquidity under revolving credit facility after the closing of RoundShield acquisition in July 2025[22]

Financial Performance - First Foundation (FFWM) reported a quarterly loss of $0.09 per share, missing the Zacks Consensus Estimate of $0.02, compared to earnings of $0.06 per share a year ago, representing an earnings surprise of -550.00% [1] - The company posted revenues of $51.42 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 20.28%, and down from year-ago revenues of $57.49 million [2] - Over the last four quarters, First Foundation has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - First Foundation shares have lost about 21.6% since the beginning of the year, while the S&P 500 has gained 8.2% [3] - The current status translates into a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.03 on $65.9 million in revenues, and $0.15 on $265.3 million in revenues for the current fiscal year [7] - The estimate revisions trend for First Foundation was mixed ahead of the earnings release, which could change following the company's report [6] Industry Context - The Zacks Industry Rank for Banks - Southwest is currently in the top 15% of over 250 Zacks industries, indicating that the industry outlook can materially impact stock performance [8]

Financial Performance - Fee Related Earnings (FRE) reached $887 million ($0.98/adj share) for the quarter, a 17% year-over-year increase[19] - Total Operating Earnings (TOE) amounted to $1.2 billion ($1.33/adj share) in the quarter, reflecting a 14% year-over-year growth[19] - Adjusted Net Income (ANI) was $1.1 billion ($1.18/adj share) for the quarter, up 9% year-over-year[19] - On a last-twelve-month (LTM) basis, FRE totaled $3.6 billion ($3.96/adj share), up 34% year-over-year, while TOE reached $4.7 billion ($5.19/adj share), up 26% year-over-year, and ANI was $4.5 billion ($4.98/adj share), up 27% year-over-year[19] - GAAP Net Income Attributable to KKR Common Stockholders was $0.5 billion for the quarter and $0.3 billion year-to-date[16] Assets Under Management - Assets Under Management (AUM) reached $686 billion, a 14% increase year-over-year[19] - Fee Paying Assets Under Management (FPAUM) totaled $556 billion, also up 14% year-over-year[19] - New capital raised in the quarter was $28 billion, and $109 billion for the last twelve months[19] - Capital invested during the quarter was $18 billion, and $83 billion for the last twelve months[19] Strategic Initiatives - KKR closed on a majority stake in HealthCare Royalty Partners, adding approximately $3 billion to AUM[22] - Japan Post Insurance announced a $2 billion investment in a new vehicle sponsored by Global Atlantic[62]

Group 1 - The Conservative Income Portfolio targets high-value stocks with significant margins of safety and aims to reduce volatility through well-priced options [1] - The Enhanced Equity Income Solutions Portfolio is designed to generate yields of 7-9% while minimizing volatility [1] - Icahn Enterprises L.P. was upgraded from a "strong sell" to a "hold" after a decline of over 35% in 2024, indicating a potential recovery opportunity [2] Group 2 - Trapping Value consists of a team with over 40 years of combined experience in generating options income while focusing on capital preservation [3] - The Conservative Income Portfolio operates in partnership with Preferred Stock Trader, featuring two income-generating portfolios and a bond ladder [3]

Core Insights - Colliers International Group Inc. reported strong financial results for the second quarter of 2025, with consolidated revenues of $1.35 billion, an increase of 18% year-over-year, and net revenues of $1.19 billion, up 16% [4][5][7] - The company's diversified business model, particularly in its Engineering division, has contributed to its outperformance, with all three growth engines—Real Estate Services, Engineering, and Investment Management—showing solid momentum [7][8] - The company has raised its annual outlook for 2025, anticipating low-teens percentage revenue growth, mid-teens Adjusted EBITDA growth, and mid to high-teens Adjusted EPS growth [14][15] Financial Performance - For the three months ended June 30, 2025, revenues were $1,347.6 million, compared to $1,139.4 million in the same period of 2024, reflecting an 18% increase [20] - Adjusted EBITDA for the second quarter was $180.2 million, up 16% from $155.6 million in the prior year quarter [4][20] - Adjusted EPS increased by 26% to $1.72 from $1.36 in the prior year quarter [4][20] Segment Performance - Real Estate Services revenues totaled $785.4 million, up 4% year-over-year, while Engineering revenues surged 67% to $436.0 million, driven by acquisitions and strong internal growth [10][11] - Investment Management revenues remained flat at $126.1 million, with net revenues down 7% due to prior year catch-up fees [12] - The Engineering segment's Adjusted EBITDA increased by 145% to $46.3 million, showcasing significant margin expansion [11] Strategic Initiatives - The company announced the rebranding of its Investment Management division to Harrison Street Asset Management, enhancing its global recognition [7][8] - Colliers completed the acquisition of a 60% stake in RoundShield Partners, expanding its capabilities in credit, student housing, and hospitality [8] - The leadership team was expanded with key appointments aimed at scaling the platform and unlocking new opportunities [8] Recurring Revenue and Cash Flow - Over the past 12 months, 71% of the company's earnings were derived from recurring revenues, indicating a stable revenue base [6] - The company achieved a free cash flow conversion rate of 98% of adjusted net earnings, aligning with its performance targets [6] Updated Outlook - The updated outlook for 2025 reflects year-to-date operating results and the impact of completed acquisitions, with expectations for continued growth despite macroeconomic uncertainties [14][15]