Intercontinental Exchange, Inc. (ICE) is a leading financial services company that operates global financial exchanges, clearing houses, and associated technology and data services. ICE owns and manages a diverse portfolio of regulated marketplaces, including futures, options, and equities exchanges and provides data, analytics, and mortgage technology solutions to financial institutions, corporations, and governments worldwide. The company, which also owns the New York Stock Exchange (NYSE), is headquarte ...

IBM reported a net income of $5.6bn for the fourth quarter of 2025 (Q4 2025), representing a 93.1% increase from $2.9bn in the same period of the previous year. The company’s revenue for the fourth quarter ended 31 December 2025 was $19.7bn, marking a 12% increase compared to $17.6bn in Q4 2024. For the full year 2025, the company's net income reached $10.6bn, a 76.7% increase compared to $6bn in 2024. IBM's revenue for the full year 2025 reached $67.5bn, an 8% rise compared to $62.7bn in the previous ...

Core Insights - TCI Fund Management's latest 13F filing highlights Chris Hohn's long-duration, quality-compounder equity strategy, with tactical adjustments in position sizes amid macro uncertainty [1] Positioning Shifts - Visa (V): TCI added 8,989,793 shares, increasing its position to 28.06 million shares valued at $9.58 billion, representing 18.2% of the portfolio, marking a 47% increase [3] - S&P Global (SPGI): TCI increased its stake by 98,247 shares to 11.19 million shares valued at $5.45 billion, making up 10.3% of the portfolio, reflecting a long-term accumulation strategy [5] - Moody's Corp (MCO): TCI added 61,500 shares, bringing its total to 13.31 million shares valued at $6.34 billion, which is 12.0% of the portfolio, indicating confidence in the credit rating agency sector [6] - Microsoft (MSFT): TCI trimmed its position by 973,027 shares to 16.59 million shares valued at $8.59 billion, representing 16.3% of the portfolio, likely for weight management rather than a change in thesis [7] - Canadian Pacific Kansas City (CP): TCI reduced its exposure by 2,961,150 shares to 49.87 million shares valued at $3.71 billion, which is 7.0% of the portfolio, indicating a balanced sizing approach [8] - Alphabet (GOOG): TCI trimmed its position by 5,369,416 shares to 7.60 million shares valued at $1.85 billion, representing 3.5% of the portfolio, reflecting competitive dynamics and margin volatility concerns [9][10] - Canadian National Railway (CNI): TCI reduced its stake by 4,221,292 shares to 18.77 million shares valued at $1.77 billion, which is 3.4% of the portfolio, suggesting a tighter capital allocation strategy [11] Portfolio Context & Themes - Structural Compounders > Cyclical Winners: TCI is focusing on businesses with long-duration cash compounding characteristics, such as Visa, Moody's, and S&P [13] - Selective Tech De-Risking: The trimming of Alphabet and Microsoft indicates caution regarding mega-cap tech valuations and competitive dynamics in AI [14] - Rail Exposure Right-Sizing: Reductions in CP and CNI reflect a disciplined approach to cyclical positioning rather than abandoning the rail theme [15] Big Picture Takeaways - TCI remains committed to owning the best businesses, sizing positions with conviction, and incrementally allocating capital during market dislocations [16]

Group 1 - GCI Liberty, Inc. will host a conference call on February 11, 2025, at 11:15 a.m. E.T. to discuss its fourth-quarter results [1] - A press release detailing the financial performance and outlook will be issued before market trading on the same day [1] - The conference call will include a Q&A session for management to address questions regarding GCI Liberty and Liberty Broadband Corporation [1] Group 2 - GCI Liberty, Inc. is comprised of its wholly owned subsidiary GCI, which is Alaska's largest communications provider [4] - GCI serves over 200 communities in Alaska, offering data, voice, and managed services to both consumer and business customers [4] - The company has invested $4.7 billion in its Alaska network and facilities over the past 45 years to enhance connectivity and address the digital divide [4]

Core Viewpoint - Nasdaq reported its monthly volumes for December 2025, along with quarterly volumes, estimated revenue capture, number of listings, and index statistics for the quarter ending December 31, 2025 [1] Group 1: Monthly and Quarterly Volumes - The report includes detailed statistics on trading volumes for December 2025 and the entire quarter [1] - Nasdaq provides a data sheet with this information available on its Investor Relations website [1] Group 2: Company Overview - Nasdaq is a global technology company that serves corporate clients, investment managers, banks, brokers, and exchange operators [1] - The company aims to enhance liquidity, transparency, and integrity in the global economy through its diverse offerings [1] - Nasdaq's services include data, analytics, software, exchange capabilities, and client-centric solutions to help clients achieve their business goals [1]

NEW YORK, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) has scheduled its fourth quarter and full year 2025 financial results announcement. Who:Nasdaq’s CEO, CFO, and additional members of its senior management team What:Review Nasdaq’s fourth quarter and full year 2025 financial results When:Thursday, January 29, 2026 Results Call: 8:00 AM Eastern Senior management will be available for questions from the investment community following prepared remarks. All participants can access the confere ...

Group 1 - Aoris Investment Management's "Aoris International Fund" Q3 2025 investor letter reported a 6.5% rise in global equity markets, represented by the MSCI AC World Accumulation Index ex Australia, in AUD for the September quarter [1] - The fund's Class A (Unhedged) returned -2.6% after fees, while Class C (Hedged) declined by 1.0%, both underperforming their respective benchmarks [1] - The letter highlighted RELX PLC (NYSE:RELX) as a key stock, which provides information-based analytics and decision tools for various professional markets [2][3] Group 2 - RELX PLC's one-month return was 1.51%, but it experienced a 10.70% decline in value over the last 52 weeks, closing at $40.98 per share with a market capitalization of $74.525 billion [2] - Concerns were raised regarding the impact of AI on RELX's business model, as some investors believe AI could undermine its position by allowing data scraping from the internet [3] - Despite being recognized as a potential investment, RELX is not among the 30 most popular stocks among hedge funds, with 28 hedge fund portfolios holding it at the end of Q3, an increase from 20 in the previous quarter [4]

Core Insights - Bardin Hill Management Partners LP has completely exited its position in Frontier Communications Parent, selling all 348,850 shares for a total value of $12,698,140, as disclosed in an SEC filing on November 12, 2025 [1][2]. Company Overview - Frontier Communications Parent provides a wide range of telecommunications services, utilizing its extensive fiber and broadband network to cater to a diverse customer base across the United States [4][7]. - The company operates a network infrastructure that serves both consumer and business customers, focusing on subscription-based revenue from residential, small business, and enterprise clients [7]. Financial Metrics - As of November 12, 2025, Frontier's stock price was $37.96, reflecting an 11.16% increase over the past year, although it underperformed the S&P 500 by 3.78 percentage points [6]. - The company's market capitalization stands at $9.50 billion, with a trailing twelve months (TTM) revenue of $6.11 billion and a TTM net income of -$381 million [3]. Investment Context - Following the sale of Frontier shares, Bardin Hill now holds only six stocks in its fund, with a significant concentration of 78% of its assets in an energy company called NextDecade [5][8]. - The investment in Frontier was relatively short-term, as Bardin Hill did not hold any shares until the first quarter of 2025, gradually increasing its position before selling it entirely [9].

Databricks CEO Ali Ghodsi thinks the AI boom (and bubble) are creating pockets of relentless sameness across tech. “I’m a little bit worried,” he said. “There’s definitely too much of everybody doing the same thing in general…It’s kind of like watching kids play soccer—all of them run towards the same ball. Then, there’s a big collision in the middle, somebody kicks the ball somewhere else—and then all of them run that way.” Ghodsi and Databricks, in many ways, stand near the top of the AI heap. The com ...

Group 1 - Accenture plc (NYSE:ACN) is recognized as one of the 15 Best Blue-Chip Stocks with Growing Dividends [1] - Deutsche Bank analyst Nate Svensson raised the price target for Accenture to $265 from $235 while maintaining a Hold rating, citing improving sentiment around artificial intelligence [2] - Accenture and Anthropic announced a significant expansion of their partnership, forming the Accenture Anthropic Business Group to assist enterprises in transitioning from AI pilots to full-scale deployment, training approximately 30,000 professionals [3][4] Group 2 - The new joint offering will focus on scaling AI-powered software development and will target highly regulated industries such as financial services, life sciences, healthcare, and the public sector [4] - Julie Sweet, Chair and CEO of Accenture, emphasized that the partnership aims to help clients leverage AI as a catalyst for innovation and growth across various sectors [4] - Accenture is a global professional services firm that enhances digital infrastructure, efficiency, revenue growth, and service improvement through technologies like Cloud, Data, and AI [4]