Core Viewpoint - Longleaf Partners Global Fund reported a 5.27% return in Q4 2025, outperforming MSCI World and MSCI World Value indexes, which returned 3.12% and 3.34% respectively. However, the Fund's annual return of 16.72% lagged behind the indexes' returns of 21.09% and 20.79% [1] Group 1: Fund Performance - The Fund celebrated Southeastern's 50th anniversary and the 25th anniversary of its global strategy in 2025 [1] - Underperformance was attributed to underweight exposure in Financials, holding cash, and lack of late-cycle Industrials [1] Group 2: Avantor, Inc. (NYSE:AVTR) Overview - Avantor, Inc. provides critical products and services to biotechnology, education, and pharmaceutical sectors, with a market capitalization of $5.19 billion [2] - As of March 19, 2026, Avantor's stock closed at $7.61, with a one-month return of -15.73% and a 52-week loss of 53.99% [2] Group 3: Fund's Position on Avantor, Inc. - Avantor detracted from the Fund's performance in 2025, leading to a decision to exit the position and book a loss before year-end [3] - The Fund added a partial position in Avantor during the second half of the year amid company challenges, but anticipated that the worst may be over following leadership changes and guidance resets [3] Group 4: Hedge Fund Interest - Avantor, Inc. was held by 40 hedge fund portfolios at the end of Q4 2025, down from 50 in the previous quarter [4] - The Fund believes that certain AI stocks present greater upside potential and less downside risk compared to Avantor [4]

Core Viewpoint - MarketWise, Inc. has released an updated investor presentation that outlines its strategy, financial performance, market position, and growth initiatives, aimed at helping stakeholders understand the company's business and outlook [1]. Company Overview - MarketWise is a leading multi-brand digital subscription services platform focused on providing premium financial research, software, education, and tools for self-directed investors [2]. - The company has over 25 years of operating history and serves millions of free and paid subscribers, offering trusted financial research and actionable investment ideas [3]. - MarketWise operates as a 100% digital, direct-to-customer company, delivering its research across various platforms including mobile, desktops, and tablets [3]. Strategic Vision - The company aims to become the leading financial solutions platform for self-directed investors, leveraging its agile and scalable platform [3].

Core Viewpoint - MarketWise, Inc. has declared a regular quarterly cash dividend of $0.25 per share and a special cash dividend of $0.20 per share, reflecting a 20% increase in the regular dividend [1] Group 1: Dividend Announcement - The regular quarterly cash dividend of $0.25 per share represents a 20% increase compared to previous dividends [1] - Cumulative dividends declared over the last twelve months equate to a dividend yield of 13%, based on the share price as of March 2, 2026 [1] - The dividends will be paid on March 31, 2026, with a Record Date of March 18, 2026 [1] Group 2: Company Overview - MarketWise is a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors [2][3] - The company has over 25 years of operating history and serves millions of free and paid subscribers [3] - MarketWise operates as a 100% digital, direct-to-customer company, offering its research across various platforms including mobile, desktops, and tablets [3]

Core Viewpoint - MarketWise, Inc. has confirmed the withdrawal of an unsolicited acquisition proposal from Monument & Cathedral Holdings, which valued the company at $17.25 per share, contingent upon the termination of a tax receivable agreement [1][2] Group 1: Proposal Withdrawal - Monument & Cathedral Holdings withdrew its proposal after the Special Committee of the Company's Board of Directors indicated that the offer price undervalued the company's stock [2] - The Special Committee evaluated the proposal in consultation with independent legal and financial advisors, focusing on maximizing shareholder value [2] Group 2: Company Strategy and Performance - The company remains committed to a standalone strategy aimed at sustainable growth in high-margin subscription sales, enhancing operational efficiency, and returning capital to shareholders through dividends and potential share repurchases [3] - Preliminary unaudited results show a 42% year-over-year increase in fourth quarter billings, with full-year 2025 Cash Flow from Operating Activities reaching $45 million, exceeding guidance for both billings and cash flow [4] - The company achieved a strong cash dividend yield of 13% for FY 2025, supported by operational momentum and a strong balance sheet [4] Group 3: Strategic Priorities - Management and the Board prioritize executing key strategic initiatives, including product innovation, subscriber acquisition and retention, expansion of premium offerings, and prudent cash management to support long-term shareholder value creation [5] - The company plans to release its fourth quarter and full-year 2025 financial results in March 2026 [5] Group 4: Company Overview - MarketWise is a leading multi-brand subscription services platform that provides premium financial research, software, education, and tools for investors [6] - The company serves millions of free and paid subscribers and offers its research across various digital platforms [7]

Core Points - Onfolio Holdings Inc. has declared a quarterly dividend of $0.75 per share on its series A preferred stock [1][2] - The dividend will be payable on December 31, 2025, to shareholders of record as of December 22, 2025 [2] - Onfolio has consistently paid quarterly dividends on its Series A Preferred Shares since January 2020 [2] Company Overview - Onfolio Holdings Inc. acquires and operates profitable online businesses across various sectors, including marketing, education, and e-commerce [3] - The company combines cash flows from these businesses with a digital asset treasury [3]

Core Insights - Phreesia, Inc. reported strong financial results for the fiscal third quarter ended October 31, 2025, with significant improvements in revenue and profitability [1][6]. Financial Performance - Total revenue for the quarter was $120.3 million, representing a 13% increase year-over-year [6]. - The average number of healthcare services clients (AHSCs) was 4,520, up 7% year-over-year [6]. - Total revenue per AHSC was $26,622, an increase of 6% year-over-year [6]. - Net income for the quarter was $4.3 million, compared to a net loss of $14.4 million in the same period last year [6]. - Adjusted EBITDA was $29.1 million, compared to $9.8 million in the prior year [6]. - Net cash provided by operating activities was $15.5 million, up from $5.8 million in the same period last year [6]. - Free cash flow was $8.8 million, compared to $1.6 million in the prior year [6]. - Cash and cash equivalents as of October 31, 2025, were $106.4 million, an increase of $22.2 million from January 31, 2025 [6]. Acquisition Details - On August 29, 2025, Phreesia announced the acquisition of AccessOne Parent Holdings, Inc. for approximately $160 million [3]. - The acquisition was completed on November 12, 2025, making AccessOne a wholly owned subsidiary of Phreesia [3]. - The purchase was funded through a combination of cash and a new $110 million secured term loan [4]. Fiscal 2026 and 2027 Outlook - The revenue outlook for fiscal 2026 has been updated to a range of $479 million to $481 million, including approximately $7.5 million from AccessOne [8]. - Adjusted EBITDA outlook for fiscal 2026 is now projected to be between $99 million and $101 million, reflecting contributions from the AccessOne acquisition [9]. - The expectation for AHSCs in fiscal 2026 is approximately 4,515, including 15 AHSCs from the AccessOne acquisition [10]. - For fiscal 2027, revenue is expected to be in the range of $545 million to $559 million, a 14-16% increase over fiscal 2026 [11]. - Adjusted EBITDA for fiscal 2027 is projected to be between $125 million and $135 million, with continued improvements in operating leverage [12].

Core Points - MarketWise, Inc. declared a quarterly cash dividend of $0.20 per share for Class A common stock and a comparable distribution for Class B common stock [1][2] - A special dividend of $0.20 per share for Class A common stock was also announced, with total dividends for FY 2025 amounting to $1.90 per share, resulting in a dividend yield of 13% based on the stock price as of October 29, 2025 [2] Company Overview - MarketWise is a leading multi-brand digital subscription services platform focused on providing premium financial research, software, education, and tools for self-directed investors [3][4] - The company has over 25 years of operating history and serves millions of free and paid subscribers, offering high-value financial research and actionable investment ideas [4] - MarketWise operates as a 100% digital, direct-to-customer company, delivering its research across various platforms including mobile, desktops, and tablets [4]

Core Viewpoint - MarketWise, Inc. has received a proposal from Monument & Cathedral Holdings, LLC to acquire all outstanding equity interests for cash consideration of $17.25 per share, contingent upon the termination of MarketWise's tax receivable agreement [1] Summary by Relevant Sections Acquisition Proposal - The proposal involves acquiring all outstanding equity interests of MarketWise, Inc. and Marketwise, LLC not owned by M&C for $17.25 per share [1] - The Board of Directors is currently reviewing the proposal with its advisors [1] - There is no guarantee that this proposal will lead to a transaction, and the company will not provide updates unless a definitive agreement is reached or required by U.S. securities laws [1] Financial Considerations - The cash consideration of $17.25 per share is contingent upon the termination of MarketWise's tax receivable agreement [1]

Core Insights - MarketWise, Inc. has appointed Erik Mickels as Chief Operating and Financial Officer to enhance operational excellence and financial strategy [1][3] - Mickels has over 25 years of experience in strategic transformation and has successfully guided acquisitions and initiatives, including the sale of a billion-dollar subsidiary [2] - The company aims to provide trusted financial insights to self-directed investors, emphasizing the growing demand for independent financial guidance [3] Company Overview - MarketWise is a leading multi-brand subscription services platform focused on empowering self-directed investors through premium financial research, software, education, and tools [4] - The company serves millions of free and paid subscribers, offering a digital, direct-to-customer model across various platforms [5] - MarketWise's vision is to become the leading financial solutions platform for self-directed investors, leveraging its agile and scalable platform [5]

Core Points - MarketWise, Inc. declared a quarterly cash dividend of $0.20 per share for Class A common stock and an equivalent distribution for Class B common stock [1][2] - A special dividend of $0.20 per share for Class A common stock was also announced, with both dividends scheduled for payment on September 25, 2025 [2] - The Record Date for the dividends is set for August 15, 2025 [2] - MarketWise plans to release its second quarter 2025 financial results on August 7, 2025, before market opening [2][3] Company Overview - MarketWise is a leading multi-brand digital subscription services platform focused on providing premium financial research, software, education, and tools for self-directed investors [4][5] - The company has over 25 years of operating history and serves millions of free and paid subscribers [5] - MarketWise operates as a 100% digital, direct-to-customer company, offering its research across various platforms including mobile, desktops, and tablets [5]