Core Viewpoint - Egan-Jones Ratings Company is undergoing a formal review by the SEC regarding its application to resume rating issuers of asset-backed securities and government securities, with a decision expected by August 12, 2026 [1][2]. Group 1: Company Actions and Statements - Egan-Jones has made significant improvements in its internal and compliance processes and is confident that these advancements will be recognized by the SEC [2]. - The company applied for two additional NRSRO licenses on October 7, 2025, which it previously held, specifically for asset-backed securities and government/sovereign/municipal securities [2]. - Egan-Jones aims to enhance competition in the ratings market, aligning with U.S. Congress priorities for increased competition [2]. Group 2: Industry Context - Following the 2008 Credit Crisis, Congress directed the SEC to foster competition in the ratings industry, which remains dominated by legacy firms criticized for their roles in the crisis [3]. - Egan-Jones is prepared to address any inquiries from the SEC during the review process, emphasizing its commitment to independence as its ratings are primarily paid for by investors rather than issuers [2][3].

Core Insights - Ironvine Capital Partners emphasizes that long-term equity returns are driven by underlying earnings growth, with portfolio companies experiencing earnings growth of 12% to 16% in 2025 and compounding profits at approximately 15% to 18% annually over the past nine years [1] - The firm anticipates mid-teens earnings growth for 2026, supported by competitive advantages, reinvestment opportunities, and favorable industry trends [1] - The Ironvine Concentrated Equity Composite returned 11.27% in 2025, while the Ironvine Core Equity Composite gained 9.68%, compared to 17.88% for the S&P 500 Index [1] Portfolio Highlights - Key portfolio holdings are benefiting from trends such as cloud computing expansion, aerospace maintenance demand, datacenter and semiconductor growth linked to artificial intelligence, resilient credit markets, digitization of payments, and the global need for enterprise software and risk-management services [1] - Moody's Corporation (NYSE:MCO) is highlighted as a significant holding, providing credit ratings and risk analysis tools essential for assessing financial risk [2][3] - Moody's operates near monopolies in credit ratings, with a strong competitive position due to regulatory recognition and industry standards that require its ratings for bond purchases [3] Financial Performance - Moody's Corporation's one-month return was -2.68%, with shares trading between $378.71 and $546.88 over the past 52 weeks, closing at approximately $435.80 on March 19, 2026, with a market capitalization of about $77.57 billion [2] - The company's strong cash flow is primarily used for share repurchases and dividends, benefiting from a preferred return on debt issuance growth linked to GDP [3]

Company Overview - Moody's Corporation (MCO) is a New York-based integrated risk assessment firm with a market cap of $84.7 billion, providing credit ratings, research, data, analytical tools, and risk management solutions [1] - MCO is classified as a large-cap stock, emphasizing its size and influence in the financial data and stock exchanges industry [2] Market Position and Performance - MCO dominates the credit rating industry, leveraging its strong brand and global reach to achieve significant revenue growth, particularly in favorable market conditions [2] - The company has experienced a 12.7% decline from its 52-week high of $546.88, reached on January 15, and has seen a 2% stock decline over the past three months, outperforming the Financial Select Sector SPDR Fund's (XLF) 2.9% losses [3][6] - Year-to-date, MCO shares have fallen 6.5% and have dipped 3.1% over the past 52 weeks, underperforming XLF's YTD losses of 6.1% [6] Recent Financial Results - MCO reported Q4 results with revenue of $1.9 billion, reflecting a 13% year-over-year increase, and an adjusted EPS of $3.64, which is a 38.9% growth from the previous year [8] - The company anticipates full-year adjusted EPS to be in the range of $16.40 to $17 [8] Competitive Landscape - In the financial data and stock exchanges sector, Intercontinental Exchange, Inc. (ICE) has shown resilience with a 1.3% uptick year-to-date, although it has experienced 3.9% losses over the past 52 weeks, lagging behind MCO [9] Stock Trends - MCO has been trading below its 50-day and 200-day moving averages since early February, indicating a bearish trend [7]

Core Viewpoint - S&P Global Inc. has experienced significant underperformance in its stock price compared to the broader market and its earnings results have not met Wall Street expectations, leading to a sell-off in shares [2][4]. Financial Performance - For Q4 2025, S&P Global reported revenue of $3.9 billion, reflecting a year-over-year growth of approximately 9% [5]. - Adjusted earnings per share (EPS) for the same quarter increased by 14% to $4.30, which narrowly missed consensus forecasts [5]. - Analysts project that for the current fiscal year, S&P Global's EPS is expected to grow by 11.2% to $19.84 on a diluted basis [6]. Market Comparison - Over the past year, S&P Global's stock has declined by 22.2%, while the S&P 500 Index has increased by 14.4% [2]. - In 2025, the stock has further slumped by 23.3%, contrasting with a 1.4% rise in the S&P 500 year-to-date [2]. Industry Sentiment - Concerns regarding AI-driven disruption and structural changes in the financial data services industry have contributed to negative sentiment surrounding S&P Global [6]. - The stock has seen a decline of up to 9.7% in the last trading session due to these worries [6].

Group 1 - S&P Global Inc. (NYSE:SPGI) is experiencing stock price pressure attributed to the rise of AI technologies, which are perceived to potentially reduce the need for traditional services offered by the company [1][4] - The company provides essential services such as credit ratings, data benchmarks, and analytical tools across various markets including finance, commodities, and automotive, which are crucial for investors and professionals [3] - Despite the potential of S&P Global as an investment, there are opinions suggesting that other AI stocks may present greater upside potential with less downside risk [4]

Core Viewpoint - S&P Global Inc. is positioned for growth with strong earnings expectations and a successful acquisition, although its stock performance has lagged behind broader market indices [2][5][6]. Financial Performance - The company is expected to report Q4 2025 earnings of $4.26 per share, reflecting a 13% increase from $3.77 per share in the same quarter last year [2]. - For the current fiscal year, analysts project an EPS of $17.79, up 13.3% from $15.70 in fiscal 2024, with further growth anticipated to $19.79 in fiscal 2026, representing an 11.2% year-over-year increase [3]. Stock Performance - SPGI stock has increased by 12.8% over the past 52 weeks, which is below the S&P 500 Index's rise of 19.7% and the State Street Financial Select Sector SPDR ETF's return of 16.8% during the same period [4]. Recent Developments - On November 25, SPGI stock rose by 1% following the acquisition of With Intelligence for $1.8 billion, enhancing the company's data and analytics capabilities in private markets [5]. - Shares increased by 3.9% on October 30 after a stronger-than-expected Q3 2025 earnings report, with a consensus "Strong Buy" rating from analysts [6]. Analyst Sentiment - Among 26 analysts covering SPGI, 20 recommend a "Strong Buy," three suggest a "Moderate Buy," and three advise a "Hold," with an average price target of $617.45, indicating a potential upside of 13.4% from current levels [6].

Core Insights - Moody's Corporation (NYSE:MCO) is a leading provider of credit ratings, research, and risk analysis, playing a crucial role in global financial markets [1] - The company competes with major credit rating agencies like Standard & Poor's and Fitch Ratings [1] Stock Performance - Moody's current trading price is $535.12, reflecting an increase of $3.51 or approximately 0.66% [4] - The stock has fluctuated between $526.50 and $536.13 on the day, with a yearly high of $540 and a low of $378.71, indicating significant volatility [4] Market Capitalization - Moody's market capitalization is approximately $96.2 billion, highlighting its strong presence in the financial services industry [5] Analyst Outlook - Kazuya Nishimura from Daiwa has set a price target of $590 for Moody's, suggesting a potential upside of about 10.26% from its current trading price [2][6] - This optimistic outlook reflects confidence in Moody's future performance and market position [2] Governance Changes - Lisa P. Sawicki has been elected to Moody's Board of Directors, effective March 16, 2026, bringing extensive experience in audit and business advisory services [3] - Her leadership role at PwC is expected to strengthen Moody's governance and strategic direction [3][6]

Core Viewpoint - S&P Global Inc. is recognized as one of the best large-cap stocks to invest in, with Goldman Sachs raising its price target from $637 to $640 while maintaining a Buy rating, citing expected growth in debt issuance volumes and ratings revenue due to structural and cyclical tailwinds [1]. Group 1: Acquisition Details - On November 25, S&P Global completed the acquisition of With Intelligence for $1.8 billion, which is expected to generate approximately $130 million in revenue and experience annual contract value growth in the high teens [2][3]. - With Intelligence provides critical data and analytics across the alternatives investing lifecycle, serving around 3,000 customers in private markets globally [2][3]. - The acquisition enhances S&P Global's private markets capabilities and positions the company as a comprehensive provider of private markets intelligence, complementing its existing strengths in ratings, benchmarks, data, analytics, and workflow solutions [4]. Group 2: Company Overview - S&P Global Inc. is an American financial intelligence company that specializes in credit ratings, benchmarks, analytics, and workflow solutions, offering data and technology to assist clients in making informed decisions [5].

Core Insights - S&P Global Inc. (SPGI) has a market capitalization of $149.6 billion and is a prominent provider of credit ratings, benchmarks, analytics, and workflow solutions across various markets [1] - The company operates through five segments: Market Intelligence, Ratings, Energy, Mobility, and S&P Dow Jones Indices [1] Company Performance - SPGI shares have declined 14.4% from their 52-week high of $579.05 and decreased 10.3% over the past three months, underperforming the Dow Jones Industrials Average, which rose by 4.4% during the same period [3] - Year-to-date, SPGI stock is down slightly, lagging behind the Dow Jones Industrials Average's gain of 11.5% [4] - Over the past 52 weeks, SPGI shares have dipped 5.1%, while the Dow Jones Industrials Average increased by 5.7% [4] - The stock has been trading below its 50-day and 200-day moving averages since mid-September [4] Recent Financial Results - On October 30, SPGI shares rose 3.9% after reporting Q3 2025 adjusted EPS of $4.73 and revenue of $3.89 billion [5] - The Ratings segment revenue surged by 12%, driven by strong bond issuance [5] - The company raised its full-year outlook to 7% - 8% revenue growth and adjusted EPS of $17.60 - $17.85 [5] Market Comparison - Rival Berkshire Hathaway Inc. (BRK.B) has outperformed SPGI, with BRK.B stock returning 12.8% year-to-date and 6.8% over the past 52 weeks [6] - Despite SPGI's underperformance, analysts maintain a "Strong Buy" consensus rating, with a mean price target of $610.43, representing a 23.2% premium to current levels [6]

Core Insights - Moody's Corporation (MCO) has a market cap of $83.9 billion and operates through two segments: Moody's Analytics and Moody's Investors Service, providing credit ratings, data, analytics, and SaaS-based risk-management solutions [1] Stock Performance - Over the past 52 weeks, MCO shares have underperformed the broader market, declining slightly while the S&P 500 Index increased by 12.3% [2] - Year-to-date, MCO shares are also down compared to the S&P 500's 12.5% gain [2] - MCO shares have lagged behind the Financial Select Sector SPDR Fund's 2.7% rise over the same period [3] Financial Performance - Moody's reported Q3 2025 adjusted EPS of $3.92 and revenue of $2.01 billion, exceeding expectations [4] - The company raised its full-year outlook for adjusted EPS to between $14.50 and $14.75, projecting high-single-digit revenue growth [4] - The ratings business saw an 11% revenue increase, driven by strong bond issuance and tight credit spreads [4] Analyst Expectations - For the fiscal year ending December 2025, analysts expect Moody's adjusted EPS to grow by 17.4% year-over-year to $14.64 [5] - Moody's has a promising earnings surprise history, beating consensus estimates in the last four quarters [5] - Among 23 analysts covering the stock, the consensus rating is a "Moderate Buy," with 11 "Strong Buy" ratings, one "Moderate Buy," and 11 "Holds" [5] Price Target - Mizuho analyst Sean Kennedy raised Moody's price target to $550 while maintaining a "Neutral" rating [6] - The mean price target of $539 represents a 14.6% premium to MCO's current price levels [6] - The highest price target of $620 suggests a potential upside of 31.9% [6]