Ocean Conservation Challenges - Traditional methods of ocean protection are inadequate due to the dynamic nature of the ocean and its inhabitants [5][6][7] - Current animal tracking technology has limitations, including inaccuracy (up to 2 kilometers or 20 football fields) and size restrictions, preventing tracking of 68% of vertebrates [17][18] - Existing tracking systems can take up to 4 minutes to get a location fix, which is too slow for tracking marine animals [19] Space Technology Solutions - Small satellites offer a potential solution for widespread coverage needed for animal tracking due to their open standard, small size, and relatively low launch cost [9][10][11][12] - Crowdsourcing can help solve accuracy problems in animal tracking, leading to breakthroughs like "time of arrival" technology [15][16] - Time of arrival technology offers advantages over traditional GPS, including tiny, lightweight trackers, near-instant location fixes, and dramatically lower costs [22][23] Time of Arrival Technology Impact - Time of arrival technology can reduce spatial inaccuracy from 2 kilometers to just a couple of meters [24] - Smaller, lightweight tags enabled by time of arrival have implications for public safety, such as tracking life jackets [25] - Time of arrival can change how the industry understands animal movement around the world [26]

Core Insights - Diamond Hill Capital's "Large Cap Fund" underperformed the Russell 1000 Value Index in Q3 2025 despite the Russell 3000 Index gaining 8% year-to-date, with calendar-year returns exceeding 14% [1] Company Summary: L3Harris Technologies, Inc. (NYSE:LHX) - L3Harris Technologies, Inc. is a global provider of mission-critical solutions for government and commercial customers, with a market capitalization of $53.716 billion and a share price of $287.11 as of November 5, 2025 [2] - The company experienced a one-month return of -3.86% but a 12.52% increase in share value over the last 52 weeks [2] - L3Harris is benefiting from strong demand from the US government and allies in areas such as small satellites, secure communications, and rocket motors, contributing to higher earnings growth [3] - Cost-cutting measures and improved execution at Aerojet Rocketdyne, acquired two years ago, are positively impacting the company's performance [3] - In Q3 2025, L3Harris reported revenue of $5.7 billion, reflecting a strong organic growth of 10% [4] - The number of hedge funds holding L3Harris increased from 42 to 53 in the second quarter of 2025, indicating growing interest [4]