Emerald Wealth Partners, an independent asset and wealth management firm based in Zurich, released its Q4 2025 investor letter for the “Growth Equity Strategy.” A copy of the letter is available to download here. In 2025, the strategy returned +3.1% (gross) and +3.0% (net), resulting in the year-to-date return of 16.7% (gross) and +16.0% (net). Discussions on a potential bubble in Artificial Intelligence (AI) markets were a significant feature of 2025, especially in Q4, contributing to a pullback in AI sto ...

Group 1: Fund Performance - Bretton Fund returned 1.44% in Q4 2025 compared to 2.66% for the S&P 500 Index [1] - For the full year 2025, the Fund returned 11.58% versus 17.88% for the Index [1] - The firm views the overall market as modestly elevated but not in bubble territory [1] Group 2: Investment Strategy - The Fund is focusing on areas of value that will provide good returns over the long term [1] - The Fund is willing to reduce speculative elements of the AI boom, even if it leads to temporary lag during strong market phases [1] Group 3: Revvity, Inc. (NYSE:RVTY) Overview - Revvity, Inc. has a market capitalization of $11.166 billion [2] - The stock closed at $98.49 per share on March 04, 2026, with a one-month return of -1.03% and a 52-week loss of 13.00% [2] Group 4: Revvity, Inc. Investment Analysis - The Fund invested in Revvity, Inc. due to its potential in the health sciences sector but faced challenges due to management decisions [3] - The overall return on the investment in Revvity, Inc. was -28.5%, with a -5.90% IRR [3] - Revvity, Inc. is not among the 40 Most Popular Stocks Among Hedge Funds, with 35 hedge fund portfolios holding it at the end of Q4, up from 22 in the previous quarter [4] Group 5: Comparative Investment Potential - The firm believes certain AI stocks offer greater upside potential and carry less downside risk compared to Revvity, Inc. [4] - A report on undervalued AI stocks that could benefit from Trump-era tariffs and the onshoring trend is available [4]

Core Insights - Pearson plc is a global leader in education and publishing, focusing on educational materials, technologies, and assessments, competing with McGraw-Hill and Houghton Mifflin Harcourt [1] Financial Performance - The recent earnings report revealed an EPS of $0.52, aligning with expectations, and revenue of $2.52 billion, slightly below estimates [1][6] - The company is undertaking a £350 million share buyback, reflecting confidence in its financial position and aiming to enhance shareholder value [2] - Pearson's P/E ratio is 14.66, indicating a reasonable market valuation, while the price-to-sales ratio is 1.74, showing investor willingness to pay for its sales [2][6] Valuation Metrics - The enterprise value to sales ratio is 2.07, and the enterprise value to operating cash flow ratio is 9.80, highlighting Pearson's valuation considering its debt and cash flow [3] - The debt-to-equity ratio stands at 0.42, indicating a moderate debt level and ensuring financial stability [3] - A current ratio of 2.31 underscores strong liquidity, indicating ample assets to cover short-term liabilities [3] Strategic Focus and Future Growth - Pearson is strategically focusing on AI integration and enterprise offerings, positioning itself well for future growth [4] - The company projects mid-single digit sales growth for 2026 and beyond, driven by advancements in AI and partnerships with leading tech firms [4][6] Leadership Changes - Simon Robson is set to become the new Group CFO on May 8, 2026, bringing experience from Sky to bolster Pearson's financial leadership [5] - Pearson is confident in achieving its growth targets for 2026, supported by strong capabilities in assessments and enterprise solutions [5]

Core Viewpoint - Intel is currently viewed as a "show-me" stock, with analysts expressing skepticism about its valuation being based on overly optimistic assumptions [1][4]. Group 1: Company Transformation - Intel is undergoing one of the most challenging transformations in the semiconductor industry, focusing on restoring its manufacturing leadership and establishing credibility as a third-party foundry [2]. - The company has not been profitable over the past twelve months, which adds to the pressure for it to demonstrate successful execution of its turnaround strategy [3]. Group 2: Analyst Sentiment - DA Davidson initiated coverage on Intel with a Neutral rating and a price target of $45, reflecting concerns that the current stock price is based on overly optimistic assumptions [1][4]. - Despite the challenges, analysts are optimistic that Intel will return to profitability this year, although the stock's current valuation may not accurately reflect this potential [4]. Group 3: Investment Considerations - While Intel has potential as an investment, some analysts believe that other AI stocks may offer greater upside potential with less downside risk [5].

Core Viewpoint - Momentus Inc. has received approximately $1.9 million in payments in January 2026 for contracts with NASA and the U.S. Air Force Research Laboratory's SpaceWERX organization, indicating ongoing collaboration and financial support from government entities [1]. Group 1 - The company is a U.S. commercial space firm that provides satellite buses, technologies, transportation, and various in-space services [1]. - The payments received are linked to the qualification and integration processes related to the contracts with NASA and AFRL's SpaceWERX [1].

Core Viewpoint - Revvity, Inc. reported strong financial results for Q4 and full year 2025, exceeding expectations and positioning itself well for future growth in improving market conditions [6]. Financial Performance Summary Fourth Quarter 2025 - GAAP earnings per share (EPS) increased to $0.87 from $0.78 year-over-year [2]. - Revenue rose to $772 million, up from $729 million in the same period last year, marking a growth of approximately 5.9% [2]. - GAAP operating income from continuing operations was $112 million, down from $119 million, with an operating profit margin of 14.5%, compared to 16.3% a year ago [2]. - Adjusted EPS from continuing operations was $1.70, up from $1.42, while adjusted operating income increased to $229 million from $221 million [3]. Full Year 2025 - GAAP EPS for the year was $2.07, a decrease from $2.20 in 2024 [4]. - Total revenue for 2025 reached $2,856 million, compared to $2,755 million in 2024, reflecting a growth of approximately 3.7% [4]. - GAAP operating income from continuing operations was $357 million, slightly up from $347 million, with a profit margin of 12.5%, down from 12.6% [4]. - Adjusted EPS from continuing operations was $5.06, an increase from $4.90 in 2024, while adjusted operating income was $773 million, down from $779 million [5]. Segment Performance Life Sciences - Q4 2025 revenue was $382 million, a 2% increase from $375 million year-over-year [8]. - Full year revenue for Life Sciences was $1,431 million, up 2% from $1,399 million in 2024 [8]. - Adjusted operating income for Q4 was $136 million, down from $138 million, with a profit margin of 35.6%, compared to 36.9% a year ago [8]. Diagnostics - Q4 2025 revenue was $390 million, a 10% increase from $355 million year-over-year [8]. - Full year revenue for Diagnostics was $1,425 million, up 5% from $1,356 million in 2024 [8]. - Adjusted operating income for Q4 was $91 million, unchanged from the previous year, with a profit margin of 23.4%, down from 25.7% [8][9]. Guidance for 2026 - The company forecasts total revenue for 2026 to be between $2.96 billion and $2.99 billion, with organic revenue growth of 2-3% and adjusted EPS of $5.35 to $5.45 [10].

Company Overview - Revvity, Inc. is a health science solutions provider that focuses on delivering complete workflows from discovery to development and diagnosis to cure [2] - The company specializes in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, and informatics [2] Financial Performance - Revvity is projected to generate over $2.7 billion in revenue for the year 2024 [3] - The company employs approximately 11,000 individuals and serves customers across various sectors including pharmaceutical and biotech, diagnostic labs, academia, and governments [3] Market Presence - Revvity is part of the S&P 500 index and has a global customer base in more than 160 countries [3] Dividend Declaration - The Board of Directors declared a regular quarterly dividend of $0.07 per share of common stock, payable on May 8, 2026, to shareholders of record as of April 17, 2026 [1]

Group 1 - Halliburton Company (NYSE:HAL) is recognized for its potential in the oil and gas sector, particularly in the context of rebuilding efforts in regions like Iraq and Venezuela [1] - The stock has seen significant price increases, leading to concerns about overvaluation, as investors may face losses if they entered at high prices [1] - The timeframe for realizing profits from Halliburton's potential is expected to be long-term, spanning years rather than days [1] Group 2 - Halliburton provides essential equipment, technologies, and services for oil and gas exploration, drilling, completion, and production [2] - There is a belief that certain AI stocks may offer better investment opportunities with higher upside potential and lower downside risk compared to Halliburton [3]

Company Overview - Revvity, Inc. (RVTY) is a leading provider of health sciences solutions, technologies, and diagnostic services, headquartered in Waltham, Massachusetts, with a market cap of $10.3 billion [1] Stock Performance - RVTY shares have underperformed the broader market, declining 15% over the past year, while the S&P 500 Index has increased by nearly 12.3% [2] - In 2025, RVTY's stock fell 16.6%, contrasting with the S&P 500's 12.5% rise on a year-to-date basis [2] - Compared to the Health Care Select Sector SPDR Fund (XLV), which gained about 7.5% year-to-date, RVTY's performance has been notably weaker [3] Financial Results - For Q3, RVTY reported revenue of $7 billion, reflecting a year-over-year increase of 2.2%, while adjusted EPS fell 7.8% to $1.18 [4] - Analysts project RVTY's EPS to grow marginally to $4.92 on a diluted basis for the current fiscal year ending in December [4] - RVTY has a strong earnings surprise history, beating consensus estimates in each of the last four quarters [4] Analyst Ratings - Among 17 analysts covering RVTY, the consensus rating is a "Moderate Buy," consisting of nine "Strong Buy" ratings, one "Moderate Buy," and seven "Holds" [5] - Brandon Couillard from Wells Fargo maintained a "Hold" rating with a price target of $102, indicating a potential upside of 9.6% from current levels [6] - The mean price target of $113.07 suggests a 21.5% premium to RVTY's current price, while the highest price target of $135 indicates a potential upside of 45.1% [6]