Financial Data and Key Metrics Changes - For the quarter ending December 31, 2024, the company reported net investment income of $0.8 million or $0.06 per share, down from $0.16 per share in the prior quarter [4] - The net asset value per share decreased by $0.16 to $5.39 compared to $5.55 as of September 30, 2024 [4] - The fair value of the portfolio was $191.6 million compared to $190.1 million at September 30 [17] - Net assets were $77.6 million, a decline of $2.3 million from the prior quarter [17] - The weighted average yield of the debt portfolio decreased slightly from 10.5% to 10.4% [17] Business Line Data and Key Metrics Changes - The median EBITDA of the portfolio remained flat at approximately $61.76 million, while the weighted average net leverage increased from 4.8 times to 5 times [9] - The percentage of covenant appeals increased from 70% to 77% [9] - The weighted average yield of debt investments made in the quarter was approximately 11.8% [11] Market Data and Key Metrics Changes - Approximately 30% of the portfolio may experience moderate effects from tariffs, with strategies in place to mitigate these risks [7] - The company is strategically targeting investments in critical sectors and defensive industries, including a recent investment in the data center sector [8] Company Strategy and Development Direction - The company remains focused on capital preservation and NAV stability, with a disciplined investment approach [22] - The management is adapting to economic uncertainties and believes the portfolio is well-positioned for the shifting economic environment [6][7] Management's Comments on Operating Environment and Future Outlook - Management noted that heightened market volatility has created a tightening spread environment, impacting investment yields [5] - There is optimism for a resurgence in M&A activity post-election, although risks from tariff wars and fiscal policy changes create uncertainty [5][6] - The company does not foresee significant changes in investment yields in the near term, expecting them to remain around 10.5% [34] Other Important Information - The company appointed Andrew Muns as Chief Operating Officer, enhancing the executive team [3] - The company has approximately $12.1 million in cash, with $11.3 million being restricted cash [20] - A distribution of $0.12 per share was declared for the quarter ending March 31, 2025, payable in cash [19] Q&A Session Summary Question: What was the cause for the drop in PIK income quarter-over-quarter? - The drop was due to a reversal of non-accrual for one portfolio company in the previous quarter, which inflated PIK income [25] Question: What are the comments on the sustainability of the dividend given lower yields and higher leverage? - The company is constantly evaluating the dividend sustainability and will monitor the portfolio's performance [26][27] Question: Is the company changing to a calendar fiscal year? - Yes, the company has changed its fiscal year from June to December [28][30] Question: Where does the company see the trend for investment yield over the next quarter or two? - The investment yield is expected to remain stable around 10.5%, barring any economic shocks [34][36]

Core Viewpoint - The article discusses the potential of growth stocks that have recently experienced significant declines in value, presenting them as attractive investment opportunities for long-term portfolios [1][3]. Group 1: Market Overview - Growth stocks are appealing for investors aiming to achieve financial goals quickly, although some may prefer dividend-paying stocks [1]. - Recent market downturns have led to attractive valuations for certain growth stocks, with some companies experiencing share price drops of at least 20% over the past month [3]. Group 2: Company Analysis - **Block (formerly Square)**: - The stock has fallen significantly, nearing its 2018 price, with a recent revenue growth of only 4.5% year over year, but earnings per share (EPS) increased by 51% [5][4]. - **The Trade Desk**: - Despite a 41% drop in stock price following a disappointing earnings report, the company reported a 22% year-over-year revenue increase and a 44% rise in non-GAAP income [6][7]. - The CEO acknowledged execution missteps but expressed optimism due to increasing ad placements in streaming services [8]. - **Accenture**: - This professional services giant has seen its stock decline nearly 20% over the past year, but it has a strong historical performance with annual gains of 16.5% over the past five years [10]. - Recent earnings showed a drop in new bookings growth, but the company is investing in new technology and has a growing dividend yield of 1.8% [11]. - **MongoDB**: - The company reported a 20% year-over-year revenue increase, with its cloud platform, Atlas, contributing 71% of the revenue [12]. - Concerns exist regarding customer spending in the current economic climate, but the company is investing in artificial intelligence [12][13]. Group 3: Investment Considerations - Each of the discussed companies presents potential for above-average gains in the long term, despite current market challenges [13]. - For investors uncertain about selecting individual stocks, exchange-traded funds (ETFs) focused on growth may be a viable alternative [13].

Group 1 - The article highlights a 'Strong Buy' rating on Accenture (NYSE: ACN) due to its strong capabilities in AI and cloud computing [1] - Accenture's stock price has faced pressure amid a broader sell-off in growth stocks, raising concerns among investors [1] - The investment strategy focuses on fundamental, bottom-up, long-term growth, targeting companies with strong growth potential and reasonable valuations [1] Group 2 - The analyst holds a beneficial long position in Accenture shares, indicating confidence in the company's future performance [2] - The article emphasizes that past performance does not guarantee future results, reflecting a cautious approach to investment recommendations [3]

Accenture plc (ACN) is set to report second-quarter fiscal 2025 results on March 20, before market open.See Zacks Earnings Calendar to stay ahead of market-making news.The Zacks Consensus Estimate for earnings is pegged at $2.84 per share, indicating 2.5% growth from the year-ago quarter’s reported level. The consensus estimate for revenues is $16.6 billion, indicating 4.9% year-over-year growth.Two consensus estimates for earnings per share in the second quarter of fiscal 2025 moved north in the past 60 da ...

Core Insights - Verizon Business and Accenture have formed a strategic partnership to enhance cybersecurity solutions for businesses of all sizes, addressing threats such as data breaches and phishing attacks [2][3] - The partnership will initially focus on offering as-a-service capabilities including Identity and Access Management (IAM) and Managed Extended Detection and Response (MxDR), followed by co-innovation of new solutions [3][7] - The collaboration aims to improve resilience against evolving cybersecurity threats driven by emerging technologies and geopolitical uncertainties [4][7] Company Overview - Verizon Communications Inc. generated revenues of $134.8 billion in 2024 and serves nearly all Fortune 500 companies, focusing on mobility, reliable network connectivity, and security [5] - Accenture is a global professional services company with approximately 799,000 employees, providing services that help organizations build their digital core and optimize operations [6] Industry Context - The cybersecurity landscape is becoming increasingly complex, necessitating businesses to prioritize resilience and adapt to new threats [4] - The partnership between Verizon and Accenture is positioned to meet the growing demand for comprehensive cybersecurity solutions, enhancing Verizon's competitive edge in the market [4][7]

Group 1 - ACCO Brands Corporation is positioning itself for long-term growth as companies implement mandatory 5-day in-office work weeks, with 26 Fortune 500 companies already adopting this trend [1] - The trend of returning to in-office work is expected to continue, indicating a potential increase in demand for ACCO's products and services [1] Group 2 - The analyst, Michael Del Monte, has over 5 years of experience in the investment industry and a decade in professional services across various sectors, which supports a macro-value-oriented approach to investment analysis [1]