Group 1 - The London Company's Income Equity Portfolio declined 1.4% gross (-1.6% net) in Q4 2025, underperforming the Russell 1000 Value Index, which gained 3.8% [1] - U.S. equities continued to rally, with the Russell 3000 Index rising 2.4% and the S&P 500 posting similar gains, supported by strong earnings growth and additional Federal Reserve rate cuts [1] - For the full year, the portfolio delivered +14.4% gross (+13.5% net) versus +15.9% for the benchmark, aligning with long-term upside capture objectives despite challenges for Quality, Yield, and Low Volatility factors [1] Group 2 - Cisco Systems, Inc. (NASDAQ:CSCO) was highlighted as a top performer in Q4 2025, driven by strong Networking growth and accelerating AI momentum [3] - Cisco's one-month return was 4.13%, with shares trading between $52.11 and $88.19 over the last 52 weeks, and a market capitalization of approximately $309.00 billion [2] - The company is expected to continue driving growth and shareholder value due to its leadership position in Networking, product breadth, and balance sheet flexibility [3]