Core Insights - Legacy Ridge Capital Management reported a 7% net return for the Partnership in 2025, after accounting for a 1% performance fee, despite facing market volatility that impacted performance [1] - The Partnership's portfolio is concentrated in 10 names with a dividend yield of approximately 6%, indicating a focus on high-yield investments [1] Company-Specific Insights - Polaris Inc. (NYSE:PII) is highlighted as a key holding, with a market capitalization of $3.78 billion and a stock price of $67.20 as of February 3, 2026 [2] - Polaris Inc. has experienced a -2.92% return in the past month but has seen a significant increase of 48.41% over the past twelve months [2] - The company has benefited from earnings and dividends growth, although the margin of safety has narrowed due to moderate re-rating [3] Investment Strategy Insights - The company is cautious about distributing excess cash across the current portfolio, preferring to invest 10% or less in new ideas rather than making larger positions that could lead to discomfort [3] - The firm acknowledges the presence of idiosyncratic volatility in its holdings and remains committed to finding new investment opportunities, although the number of attractive options has decreased [3]

Group 1 - Silver Standard Resources Inc. (SSRM) has seen a 15.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - HF Sinclair Corporation (DINO) has experienced a 53.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Polaris Inc. (PII) has recorded a 70% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Kinross Gold Corporation (KGC) has seen a 9.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Perpetua Resources Corp. (PPTA) has experienced a 28.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2]