Group 1 - Oakmark Fund's objective is to deliver capital appreciation by investing in diverse large-cap US companies, and in Q4 2025, it outperformed the S&P 500 Index with a return of 4.78% compared to the index's 2.66% [1] - AerCap Holdings N.V. is highlighted as a key stock, with a market capitalization of $25.727 billion, a one-month return of 2.36%, and a 52-week gain of 49.13% [2] - AerCap is recognized as the largest aircraft lessor globally, benefiting from secular growth in global travel demand, and possesses scale advantages that allow for a higher return on equity (ROE) than its peers [3] Group 2 - The management's opportunistic, returns-focused approach to growth is seen as a key driver of AerCap's performance, with shares purchased at a modest premium to book value or a single-digit price-to-earnings (P/E) multiple [3] - AerCap is not among the 30 Most Popular Stocks Among Hedge Funds, with 55 hedge fund portfolios holding its shares at the end of Q3, down from 63 in the previous quarter [4] - While AerCap is acknowledged for its investment potential, certain AI stocks are considered to offer greater upside potential and less downside risk [4]

Group 1 - Luminor Bank is providing up to EUR 16.98 million in financing for grocery store projects managed by AB Tewox in various locations including Vilnius, Klaipėda, and Utena, with a total additional leasable area of nearly 11,000 sq m [1][2][3] - The largest project financed is a retail park in Utena, covering nearly 5,000 sq m, which will include the second IKI store in the city and aims for BREEAM Excellent sustainability certification [2][3] - The Lidl store in Klaipėda will have an area of approximately 2,100 sq m, while IKI stores in Dituvos village and Vilnius will be around 2,000 sq m and 1,800 sq m respectively, all scheduled for completion in the first half of the year [3] Group 2 - Luminor Bank has also supported Tewox in a EUR 35 million bond issuance program, which is listed on the Nasdaq Baltic Bond List [3]

Group 1 - Walker & Dunlop (NYSE:WD) is recognized as one of the best financial pure plays under $100 according to hedge funds [1] - Analyst Jade Rahmani from Keefe Bruyette reaffirmed a Buy rating for Walker & Dunlop, lowering the price target from $92 to $82, indicating a potential upside of around 35% [1][2] - The consensus ratings project a bullish market view for Walker & Dunlop, with all three analysts covering the stock assigning Buy ratings and a median 1-year price target of $84, implying more than 38% upside from the current level [3] Group 2 - Walker & Dunlop operates within the commercial real estate space and is one of the largest firms in the industry, offering services such as financing, advisory, servicing, valuations, and investment management [4] - The commercial real estate market is expected to exhibit moderate yet healthy growth in the coming year, which is anticipated to benefit commercial real estate players, including mortgage financiers like Walker & Dunlop [2]

Core Insights - Marcus & Millichap, Inc. (MMI) reported an earnings per share (EPS) of $0.01, significantly below the estimated $0.23, indicating lower profitability than expected [2][6] - The company achieved a 15.1% increase in revenue year-over-year, reaching $193.9 million, although this was below the anticipated $253.2 million [2][3][6] - MMI's financial health is characterized by a low debt-to-equity ratio of 0.14 and a current ratio of 3.47, indicating a stable financial position despite earnings challenges [5][6] Financial Performance - MMI's revenue of $193.9 million represents a 15.1% increase compared to the same quarter in 2024, showcasing strong performance in its core services [2][3] - The company's revenue fell short of market expectations, which were set at $253.2 million, highlighting challenges in meeting financial forecasts [3][6] Valuation Metrics - MMI's price-to-sales ratio is approximately 1.60, indicating that investors are willing to pay $1.60 for every dollar of sales [4] - The enterprise value to sales ratio also stands at roughly 1.60, reflecting the company's valuation in relation to its sales [4] - The enterprise value to operating cash flow ratio is about 16.11, suggesting how many times the operating cash flow can cover the enterprise value [4]

Core Insights - Hilton Grand Vacations (HGV) reported $1.3 billion in revenue for Q3 2025, reflecting a year-over-year decline of 0.5% and an EPS of $0.60, down from $0.67 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $1.36 billion by 4.23%, and the EPS was 40.59% below the consensus estimate of $1.01 [1] Revenue Breakdown - Resort and club management revenues were $193 million, exceeding the estimated $180.77 million [4] - Cost reimbursements generated $132 million, slightly above the $130 million estimate, marking a year-over-year increase of 1.5% [4] - Rental and ancillary services revenues reached $186 million, surpassing the $184.59 million estimate, with a year-over-year change of 1.6% [4] - Fee-for-service commissions, package sales, and other fees totaled $188 million, significantly above the $163.19 million estimate, representing an 18.2% year-over-year increase [4] - Financing revenues were $128 million, slightly below the $132.81 million estimate, but showed a year-over-year increase of 21.9% [4] - Sales of VOIs, net, were $473 million, falling short of the $567.88 million estimate, reflecting a 14% year-over-year decline [4] Stock Performance - Shares of Hilton Grand Vacations have returned +4.6% over the past month, outperforming the Zacks S&P 500 composite's +3.6% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Insights - IBM reported $16.33 billion in revenue for Q3 2025, a year-over-year increase of 9.1%, with EPS of $2.65 compared to $2.30 a year ago, exceeding Zacks Consensus Estimates for both revenue and EPS [1][2] Revenue Breakdown - Software revenue was $7.21 billion, slightly below the average estimate of $7.27 billion, reflecting a year-over-year increase of 10.5% [4] - Consulting revenue reached $5.32 billion, surpassing the average estimate of $5.24 billion, with a year-over-year change of 3.3% [4] - Financing revenue was reported at $200 million, exceeding the average estimate of $171.23 million [4] - Infrastructure revenue was $3.56 billion, above the estimated $3.42 billion, showing a significant year-over-year increase of 17% [4] - Other revenue was $38 million, compared to an average estimate of -$6.47 million, indicating a year-over-year decline of 44.1% [4] - Intelligent Operations revenue was $2.4 billion, exceeding the average estimate of $2.34 billion [4] - Automation revenue was $1.9 billion, above the average estimate of $1.78 billion [4] - Strategy and Technology revenue was $2.9 billion, slightly above the estimated $2.87 billion [4] - Hybrid Cloud revenue was $1.9 billion, below the average estimate of $1.99 billion [4] - Infrastructure Support revenue was $1.3 billion, exceeding the average estimate of $1.27 billion, with no change year-over-year [4] - Data revenue was $1.5 billion, slightly above the average estimate of $1.47 billion [4] - Transaction Processing revenue was $1.9 billion, below the average estimate of $2.05 billion, with no change year-over-year [4] Stock Performance - IBM shares returned +3.6% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Citigroup reported a strong third quarter, with all five divisions achieving record revenues, leading to an overall revenue increase of 9% to $22.1 billion [1][2]. Group 1: Revenue Performance - The banking division, which includes investment and corporate banking, was the largest contributor, with a revenue increase of 34% [2]. - The markets division, encompassing sales, trading, and financing, generated $5.6 billion in Q3, making it the highest earner [2]. - The services, wealth, and US personal banking divisions each experienced growth of 7% to 8% during the quarter [2]. Group 2: Profitability Metrics - Net interest income rose by 12%, surpassing estimates by approximately $0.5 billion, contributing to a positive market reaction with shares up about 1% [3]. - Credit costs amounted to $2.5 billion, primarily due to losses in US cards and a minor firmwide allowance for credit losses [3]. Group 3: Expenses and Charges - A goodwill impairment charge related to the sale of a minority stake in Banamax impacted expenses, which increased by 9%, although this non-cash charge did not affect capital [4]. - Excluding the one-time charge, Citigroup's expenses rose by about 3%, attributed to higher compensation and the effects of a weaker dollar [4]. Group 4: Stock Performance - Citigroup shares have increased over 36% year-to-date, making it the second-best performer among the six largest US banks [5].

AI Agent Integration - Tesla has integrated an AI agent with personalized content to support various services including Account, Shop, Charging, Insurance (no claims), Service, Ownership transfer, and Referral [1] - The AI agent will expand to Lease/Financing by the end of the month to answer questions related to lease term, payments, transfer, and buy out [1] - Tesla is working to integrate post-order help via AI Agent to help unblock customers quickly [1] AI-Assist Improvement - Tesla AI-Assist is incrementally improving each day [1]

Core Points - Harley-Davidson confirmed the election of all nine Director nominees at the 2025 Annual Meeting of Shareholders [1] - The search for Harley-Davidson's next CEO is ongoing, led by the search committee [1] - CEO Jochen Zeitz expressed gratitude to shareholders and emphasized the company's commitment to long-term value creation [2] Company Overview - Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services, aiming to be the most desirable motorcycle brand globally [3] - The company has a controlling interest in LiveWire Group, Inc., the first publicly traded all-electric motorcycle company in the U.S., focusing on urban adventure and electric motorcycle innovation [3]

Core Points - Harley-Davidson shareholders have elected all of the company's Director nominees during the 2025 Annual Meeting of Shareholders [1] - The Board expressed gratitude to shareholders for their trust and support, emphasizing ongoing engagement and commitment to shareholder interests [1] - Preliminary voting results indicated that shareholders approved all other proposals submitted for a vote at the Annual Meeting [1] Company Overview - Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services, aiming to lead the motorcycle industry through innovation and emotional connection [2] - The company has a controlling interest in LiveWire Group, Inc., the first publicly traded all-electric motorcycle company in the U.S., focusing on urban adventure and electric motorcycle branding [2]