Core Insights - Tariffs and shifting trade policies have created ongoing operational challenges for U.S. businesses, particularly affecting financial and product leaders [1][3] - Middle-market firms are experiencing heightened uncertainty due to tariffs, policy changes, and uneven global demand, which has become a defining feature for 2025 [3][4] Impact on Goods vs. Services Firms - A significant divide exists between goods-producing firms and services providers, with over one-third of CFOs at goods firms reporting high operational uncertainty by late 2025, a sharp increase from pre-tariff conditions [5][6] - Goods firms face higher input costs and supply-chain disruptions, leading to operational constraints, while services firms are more insulated from these impacts [6] Margin Pressures - More than 40% of CFOs at goods companies reported declining operating margins in 2025, while only 12% saw improvements, indicating a severe impact on profitability [7] - High uncertainty correlates with margin deterioration, as over three-quarters of firms under high uncertainty reported margin declines [7] Strategic Responses - Companies have shifted to "reset mode," prioritizing defensive strategies over aggressive growth, with over one-third of CFOs focusing on risk management and compliance [8][9] - Goods firms are diversifying supply chains and renegotiating vendor contracts, while services firms are concentrating on operational efficiency [9] Technology Investment Trends - Technology investment has decreased, with only 15% of firms prioritizing AI and digital transformation in 2025, but expectations for 2026 indicate a shift towards prioritizing digital transformation [10] Future Outlook - As companies approach 2026, nearly two-thirds expect growth despite ongoing tariff uncertainties, emphasizing the need for flexible cost structures and resilient supply chains [11][12]

Core Insights - The U.S. logistics, manufacturing, and supply-chain sectors are experiencing significant layoffs, facility closures, and bankruptcy filings, affecting over 2,200 workers nationwide as companies face challenges such as lost contracts, high costs, excess capacity, and tighter credit conditions [6]. Company-Specific Summaries - Kroehler Furniture Co. has permanently closed its manufacturing facility in Conover, North Carolina, resulting in the layoff of more than 275 employees as part of a restructuring to improve long-term viability amid high wood fiber and energy costs [1]. - Packaging Corporation of America plans to lay off about 200 employees at its containerboard mill in Wallula, Washington, following the permanent shutdown of a paper machine and kraft pulping operations [2]. - AVI Food Systems is set to lay off 297 employees in Philadelphia due to a facility closure, impacting large institutional foodservice operations [4]. - RailCrew Xpress is laying off over 400 employees across multiple states after losing a major contract with CSX [5]. - I Squared Logistics has laid off 160 workers in North Carolina after abruptly shutting down operations as an Amazon delivery service partner [8]. - The Giant Co. plans to close five e-commerce fulfillment centers in Pennsylvania, resulting in the layoff of 128 workers [9]. - United Parcel Service is closing a distribution facility in Montgomery, Alabama, leading to the layoff of 128 employees as part of a broader restructuring [11]. - Comprehensive Logistics laid off 105 workers in Georgia after losing a major contract [12]. - Archer Daniels Midland will close its Memphis facility, resulting in the layoff of 95 employees as part of a new joint venture [13]. - FedEx is laying off 89 employees at a facility in Fort Worth, Texas, as part of its multiyear Network 2.0 reorganization [14]. - Microplastics Inc. has laid off 86 employees and shut down its Illinois plant amid asset sale negotiations [15]. - Post Consumer Brands is cutting 71 jobs at its Michigan cereal plant after halting production of several product lines [16]. - U.S. Endodontics is laying off 70 workers from its Tennessee facility, with no reason provided for the reduction [17]. - GNC is laying off 66 workers from its Phoenix distribution center, with no disclosed reason [18]. - United Piston Ring is closing its Wisconsin plant, resulting in the layoff of about 60 employees as part of a restructuring [19]. - Ryder Integrated Logistics is laying off 59 employees following the closure of a facility in Illinois [20]. - Ample Inc. filed for Chapter 11 bankruptcy protection amid severe cash shortages, reducing its workforce from approximately 120-160 to just a few employees [21][22]. - FlexShopper Inc. filed for Chapter 11 bankruptcy, reporting less than $1 million in assets and liabilities ranging from $100 million to $500 million [23][24]. - Food52 Inc. filed for Chapter 11 bankruptcy protection, citing sustained cash burn and declining demand, with revenue dropping from approximately $160 million in 2021 to about $74.7 million in 2024 [26][28].

Core Viewpoint - Supply Technologies LLC is expanding its North American distribution network with a new facility in Union, Ohio, enhancing its capabilities in supply chain management for global OEMs [1] Company Expansion - Supply Technologies is augmenting its global network of over 70 warehouses with a new 375,000-square-foot distribution center [1] - The new facility will serve as the company's flagship location [1]

Core Viewpoint - The company, GPO Plus, Inc., has reported a 20% sequential quarterly revenue growth for its fiscal second quarter ended October 31, 2025, indicating strong performance and potential for future growth [1]. Group 1: Financial Performance - The company achieved a 20% sequential quarterly revenue growth for the fiscal second quarter [1]. Group 2: Strategic Initiatives - GPO Plus, Inc. is focusing on new product programs and expanding call center capacity to enhance its service offerings [1]. - The company plans to accelerate its revenue growth by increasing its store presence to 1,500 locations [1].

Core Insights - GPO Plus, Inc. has achieved an annualized revenue run rate of approximately $6.3 million, representing a nearly 6x increase since entering the Direct Store Delivery (DSD) market in April 2023 [1] Company Overview - GPO Plus, Inc. is an AI-powered distributor that is transforming distribution to gas stations and convenience stores through its innovative technology-driven DSD model [1] Market Performance - The company entered the DSD market through the acquisition of Betterment Retail Solutions, which has significantly contributed to its revenue growth [1]

Core Insights - The Fund underperformed the MSCI World ex USA Index for the quarter but has outperformed the benchmark since inception [5] - Consumer discretionary and materials sectors were the largest contributors to performance, while industrials and communication services were the largest detractors [5] - Geographically, the portfolio is heavily weighted towards Europe ex U.K. (68.4%), followed by the U.K. (11.5%) and Asia ex Japan (9.3%) [5] Performance Analysis - Kering was the top contributor during the quarter, driven by leadership changes and improving revenue trends [7] - CNH Industrial was the top detractor, facing weak results and soft demand, particularly in the U.S., but management expects a rebound in 2025 [8] Portfolio Activity - Six new positions were added to the Fund, while nine were exited during the quarter [9] - New purchases included Bunzl, which is expected to return to stable growth despite recent execution issues [10] - Dassault Systèmes, a leader in virtual twin technology, is viewed as a high-quality investment opportunity despite a nearly 40% decline in share price [11] Company Highlights - FEMSA, a diversified Latin American conglomerate, is well-positioned for growth through strategic divestments and share buybacks [12] - Hexagon has upgraded its management team and is expected to see improvements in return on capital employed and cash flow [13] - Siemens Healthineers is positioned for profitable growth in medical technology, with a favorable product cycle and turnaround in its diagnostics business [16] Investment Returns - The Fund's average annualized total returns show strong performance across various time frames, with the Institutional Class returning 26.51% year-to-date [18]

Group 1 - The article highlights a three-day summit in New York City that connects over 500 investors, executives, and founders focused on advancing capitalism for good [1] - GPO Plus, Inc. (OTCQB: GPOX) is an AI-powered distributor that is revolutionizing distribution to gas stations and convenience stores through its innovative technology-driven Direct Store Delivery (DSD) model [1] - GPOX is a featured sponsor of the summit, indicating its commitment to the themes discussed at the event [1]

Group 1 - Wesco International will hold its third quarter 2025 earnings conference call on October 30, 2025, at 10:00 a.m. ET [1] - The company provides dial-in details for live access and replay access for the earnings call [1] - A live audio webcast of the earnings presentation will be available on Wesco's investor relations website [1] Group 2 - Wesco International is a FORTUNE 500® company headquartered in Pittsburgh, Pennsylvania, with approximately $22 billion in annual sales in 2024 [2] - The company specializes in business-to-business distribution, logistics services, and supply chain solutions, offering a diverse portfolio of products and services [2] - Wesco employs around 20,000 people and operates over 700 sites in approximately 50 countries, providing a local presence and a global network for its customers [2]

Core Insights - The current tariff environment has significantly impacted corporate financial results and finance departments' planning and forecasting capabilities across various industries [1] Group 1: Impact on Profitability and Forecasting - A survey of 942 finance leaders revealed that 59% reported a moderate impact on profitability due to tariffs, while 64% indicated that tariffs affected their ability to prepare timely and reliable forecasts [2] - In the United States, 76% of respondents reported at least a moderate impact on forecasting, compared to 60% in Europe and 46% in Asia-Pacific [3] Group 2: Industry-Specific Effects - Financial services, consumer packaged goods, and retail sectors reported the highest levels of impact on profitability, with 70% of U.S.-based companies experiencing at least a moderate impact [4] - Manufacturing and distribution organizations are identified as the most affected industries regarding tariff-related forecasting issues [3] Group 3: Supply Chain Adjustments - Companies are addressing supply chain concerns by enhancing communication with suppliers (60%) and increasing third-party risk management oversight (52%) [4] - A significant portion of companies are sourcing materials locally (39%) and diversifying their supply chains across multiple regions (35%), while 51% have made no changes to their outsourcing or offshoring strategies [5] Group 4: Role of CFOs - CFOs are positioned to act as the "voice of reason" in discussions with shareholders and board members regarding the impact of tariffs on costs and profit margins [5] - Strong cross-functional collaboration is necessary for addressing questions related to tariffs, including cost of goods sold and pricing adjustments [6]

Core Insights - Ripplr, a distribution and logistics startup, has raised INR 200.3 Cr (approximately $22.6 Mn) from existing investors, led by Sojitz Corporation, with participation from 3one4 Capital and Trifecta Capital [1][5] - The startup provides a tech-enabled distribution platform for FMCG and ecommerce brands, assisting in warehouse onboarding, store onboarding, and price management [4][5] - Ripplr's logistics division manages last-mile delivery fleets, offers cold chain solutions, and provides vehicle tracking services [4] Investment Details - Sojitz Corporation invested INR 191.6 Cr by allotting 3.1 Lakh Series C1 CCPS shares at an issue price of INR 6,119 each [2] - 3one4 Capital and Trifecta Capital contributed INR 8.3 Cr and INR 63.9 Lakh, respectively, to the funding round [1][3] Financial Performance - Ripplr's net loss increased by 43.5% to INR 89.15 Cr in FY24, compared to INR 62.09 Cr in the previous fiscal year [6] - Operating revenue grew by 38.9% to INR 1,028.38 Cr from INR 740.22 Cr in FY23 [6] Clientele and Market Position - Ripplr serves notable brands such as Colgate, Britannia, and Dabur, and has clients in its logistics business including BigBasket, Blinkit, and Croma [5] - The company competes with other players like Udaan and ElasticRun, as well as traditional distributors [5]