Core Insights - The London Company Income Equity Strategy reported a 6.0% gross (5.8% net) portfolio appreciation in Q3 2025, outperforming the Russell 1000 Value Index which increased by 5.3% [1] - The portfolio's positive stock selection contributed to its outperformance, although sector exposure presented some headwinds [1] Company Analysis: Cummins Inc. (NYSE:CMI) - Cummins Inc. is recognized as a global leader in heavy- and medium-duty truck engines, benefiting from strong customer relationships and a large installed base that drives high-margin, recurring aftermarket revenue [3] - The company has diversified into Power Systems, which adds stability during trucking downturns, supported by a strong balance sheet and disciplined capital allocation [3] - Cummins Inc. is positioned for a rebound in truck demand and global growth, with its scale, emissions expertise, and service network providing durable advantages [3] - As of November 4, 2025, Cummins Inc. shares closed at $428.74, with a market capitalization of $59.074 billion, reflecting a 20.43% increase in value over the last 52 weeks [2] Investment Sentiment - Cummins Inc. was held by 59 hedge fund portfolios at the end of Q2 2025, an increase from 53 in the previous quarter, indicating growing interest among institutional investors [4] - Despite its potential, some analysts suggest that certain AI stocks may offer greater upside potential and carry less downside risk compared to Cummins Inc. [4]