4 days ago
Moon Capital Management, LLC, an investment management company, released its second quarter 2025 investor letter. A copy of the letter can be downloaded here. The S&P 500 index rebounded in the second quarter, achieving a 9.6% return for the first half of the year, while Moon Capital Management's equity portfolio gained 4%. AI-related stocks led market performance, mitigating geopolitical concerns. Moon Capital holds 10% of its portfolio in technology, significantly less than the S&P 500's 39%. The firm remains cautious about large AI investments and their potential return on investment. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Moon Capital Management highlighted Zoetis Inc. (NYSE:ZTS) as a newly added position. Zoetis Inc. (NYSE:ZTS) is an animal health company focused on animal health medications, vaccines, and diagnostic products. On July 22, 2026, Zoetis Inc. (NYSE:ZTS) closed at $74.19 per share. One-month return of Zoetis Inc. (NYSE:ZTS) was -4.66%, and its shares lost 51.45% over the past 52 weeks. Zoetis Inc. (NYSE:ZTS) has a market capitalization of $31.1 billion.
Moon Capital Management stated the following regarding Zoetis Inc. (NYSE:ZTS) in its Q2 2026 investor update:
"We added one new stock to the portfolio last quarter, Zoetis Inc. (NYSE:ZTS). (Our average purchase price was about $73.20/share.) Zoetis is the world's largest pure-play animal health company. We have long viewed Zoetis as one of the highest-quality businesses in healthcare (albeit for mostly four legged patients), and the company has generally been valued accordingly. However, temporary concerns around slower companion animal growth and increased competitive pressures created an opportunity to purchase the company at an attractive price. After trading above 30 times earnings for much of the past decade, Zoetis now has a P/E of less than 11x, a valuation we believe significantly understates the quality, durability, and long-term earnings power of the business.
The animal health industry is attractive as it combines the defensive characteristics of healthcare investing with a more favorable industry structure than traditional pharmaceuticals. In contrast to human healthcare, a significant portion of animal health spending is paid directly by owners, which reduces reimbursement pressure. The industry also benefits from lower research and development costs, shorter development timelines, and strong relationships with veterinarians. These relationships, combined with regulatory barriers and specialized technical expertise, create meaningful switching costs and contribute to long product lifecycles..." (Click here to read the full text)
#capital
In its Q2 2026 investor letter, Moon Capital Management highlighted Zoetis Inc. (NYSE:ZTS) as a newly added position. Zoetis Inc. (NYSE:ZTS) is an animal health company focused on animal health medications, vaccines, and diagnostic products. On July 22, 2026, Zoetis Inc. (NYSE:ZTS) closed at $74.19 per share. One-month return of Zoetis Inc. (NYSE:ZTS) was -4.66%, and its shares lost 51.45% over the past 52 weeks. Zoetis Inc. (NYSE:ZTS) has a market capitalization of $31.1 billion.
Moon Capital Management stated the following regarding Zoetis Inc. (NYSE:ZTS) in its Q2 2026 investor update:
"We added one new stock to the portfolio last quarter, Zoetis Inc. (NYSE:ZTS). (Our average purchase price was about $73.20/share.) Zoetis is the world's largest pure-play animal health company. We have long viewed Zoetis as one of the highest-quality businesses in healthcare (albeit for mostly four legged patients), and the company has generally been valued accordingly. However, temporary concerns around slower companion animal growth and increased competitive pressures created an opportunity to purchase the company at an attractive price. After trading above 30 times earnings for much of the past decade, Zoetis now has a P/E of less than 11x, a valuation we believe significantly understates the quality, durability, and long-term earnings power of the business.
The animal health industry is attractive as it combines the defensive characteristics of healthcare investing with a more favorable industry structure than traditional pharmaceuticals. In contrast to human healthcare, a significant portion of animal health spending is paid directly by owners, which reduces reimbursement pressure. The industry also benefits from lower research and development costs, shorter development timelines, and strong relationships with veterinarians. These relationships, combined with regulatory barriers and specialized technical expertise, create meaningful switching costs and contribute to long product lifecycles..." (Click here to read the full text)
#capital
5 days ago
Sompo International's wholly owned Brazilian subsidiary, Sompo, has signed an agreement to acquire local peer Fator Seguradora.
The value of the transaction has not been disclosed and the deal remains subject to approval by the relevant regulatory authorities.
According to the translated version of the announcement, the acquisition is part of Sompo's strategy to expand its presence in the corporate insurance market by widening its portfolio of specialised solutions.
The company said the deal will strengthen its position in business lines in which Fator Seguradora has consolidated operations and recognised expertise, particularly property, guarantee and financial lines.
It said completion of the transaction is expected to further reinforce its market position.
#transaction #lines
The value of the transaction has not been disclosed and the deal remains subject to approval by the relevant regulatory authorities.
According to the translated version of the announcement, the acquisition is part of Sompo's strategy to expand its presence in the corporate insurance market by widening its portfolio of specialised solutions.
The company said the deal will strengthen its position in business lines in which Fator Seguradora has consolidated operations and recognised expertise, particularly property, guarantee and financial lines.
It said completion of the transaction is expected to further reinforce its market position.
#transaction #lines
6 days ago
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Updated July 21, 2026 8:12 am ET
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Novartis NOVN -0.16%
decrease; down pointing triangle
said it returned to sales growth in the second quarter, as momentum from some of its key medicines and recent launches helped the company offset a hit from drugs that lost patent protection.
#decrease #triangle
Updated July 21, 2026 8:12 am ET
Listen
(2 min)
Novartis NOVN -0.16%
decrease; down pointing triangle
said it returned to sales growth in the second quarter, as momentum from some of its key medicines and recent launches helped the company offset a hit from drugs that lost patent protection.
#decrease #triangle
12 days ago
Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the 10 Fastest Growing Consumer Stocks to Buy Now.
On July 9, 2026, UBS **** yst Joseph Spak raised the firm's price target on Rivian Automotive, Inc. (NASDAQ:RIVN) to $17 from $16 and kept a Neutral rating on the shares.
On July 8, Rivian Automotive, Inc. (NASDAQ:RIVN) priced its 75M share secondary offering at $15.50. Goldman Sachs, Allen & Co., Barclays, JPMorgan, Morgan Stanley, and Wells Fargo acted as joint book-running managers for the offering.
Image by Varun Kulkarni from Pixabay
On July 7, Rivian said in an 8-K filing that it expects total consolidated revenues to increase for the three months ended June 30, 2026, compared with the three months ended June 30, 2025. The company cited higher vehicle deliveries, partially offset by lower average selling prices from a higher mix of commercial vans. Rivian also pointed to increases in vehicle electrical architecture and software development services and revenues related to regulatory credits.
On July 9, 2026, UBS **** yst Joseph Spak raised the firm's price target on Rivian Automotive, Inc. (NASDAQ:RIVN) to $17 from $16 and kept a Neutral rating on the shares.
On July 8, Rivian Automotive, Inc. (NASDAQ:RIVN) priced its 75M share secondary offering at $15.50. Goldman Sachs, Allen & Co., Barclays, JPMorgan, Morgan Stanley, and Wells Fargo acted as joint book-running managers for the offering.
Image by Varun Kulkarni from Pixabay
On July 7, Rivian said in an 8-K filing that it expects total consolidated revenues to increase for the three months ended June 30, 2026, compared with the three months ended June 30, 2025. The company cited higher vehicle deliveries, partially offset by lower average selling prices from a higher mix of commercial vans. Rivian also pointed to increases in vehicle electrical architecture and software development services and revenues related to regulatory credits.
15 days ago
ClearBridge Investments, a global equity manager, recently published second-quarter 2026 commentary for its "SMID Cap Growth Strategy". A copy can be downloaded here. Small and mid-cap (SMID) growth equities experienced the strongest quarter in recent memory, with the Russell 2500 Growth Index rising 24.0%, driven by enthusiasm for AI infrastructure and higher-beta momentum stocks. The Strategy delivered double-digit returns in the quarter but trailed the soaring benchmark. Underperformance was driven by underexposure to top AI infrastructure stocks as well as weaknesses in healthcare and consumer discretionary sectors. The market leadership expanded beyond mega-cap technology, indicating potential opportunities from a broader cyclical recovery and AI adoption. In addition, you can check the Fund's top five holdings to determine its best picks for 2026.
In its Q2 2026 investor letter, ClearBridge SMID Cap Growth Strategy highlighted MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) as a newly added position. MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) is a high-power **** og semiconductor solutions provider serving applications across radio frequency (RF), microwave, millimeter wave, and lightwave spectrum. On July 10, 2026, MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) closed at $308.52 per share, reflecting a market capitalization of $23.54 billion. MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) posted a one-month return of -19.82%, while its shares gained 125.81% over the past 52 weeks.
ClearBridge SMID Cap Growth Strategy the following regarding MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in its Q2 2026 investor update:
"In IT, we added MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) to increase exposure to AI networking and data connectivity growth. MACOM's compound semiconductor expertise offers differentiated exposure to AI, defense and satellite communications."
MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 45 hedge fund portfolios held MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) at the end of the first quarter, up from 35 in the previous quarter. In the second quarter of fiscal 2026, MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) reported revenue of $289 million, up 6.4% sequentially and up over 22% year-on-year. While we acknowledge the potential of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In its Q2 2026 investor letter, ClearBridge SMID Cap Growth Strategy highlighted MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) as a newly added position. MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) is a high-power **** og semiconductor solutions provider serving applications across radio frequency (RF), microwave, millimeter wave, and lightwave spectrum. On July 10, 2026, MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) closed at $308.52 per share, reflecting a market capitalization of $23.54 billion. MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) posted a one-month return of -19.82%, while its shares gained 125.81% over the past 52 weeks.
ClearBridge SMID Cap Growth Strategy the following regarding MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in its Q2 2026 investor update:
"In IT, we added MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) to increase exposure to AI networking and data connectivity growth. MACOM's compound semiconductor expertise offers differentiated exposure to AI, defense and satellite communications."
MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 45 hedge fund portfolios held MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) at the end of the first quarter, up from 35 in the previous quarter. In the second quarter of fiscal 2026, MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) reported revenue of $289 million, up 6.4% sequentially and up over 22% year-on-year. While we acknowledge the potential of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
19 days ago
Rocket Companies Inc (NYSE:RKT) is one of the best stocks to buy according to David Greenspan's Slate Path Capital. The stock makes up 4.9% of its reported equity portfolio. Rocket Companies' stock is up more than 20% over the past month, and ****** ysts expect it to go up more. Some 112 hedge funds have positions in RKT stock.
Studio Grand Ouest/Shutterstock.com
On June 30, Benchmark initiated coverage of Rocket Companies Inc (NYSE:RKT) stock with a Buy rating and a price target of $21 on the shares. The brokerage cited favorable mortgage rates and further noted that Rocket could become one of the two leading real estate portals over the next decade.
According to Benchmark, housing platforms that combine artificial intelligence, vertical integration, and the ability to convert intent into transactions will win the industry competition. If this is the case, the brokerage believes Rocket has a major advantage over traditional providers. Rocket has shown that it is open to partnerships across the industry in order to advance its goals and reduce its risks. Additionally, the company is seeking to expand its market share across purchase and refinancing segments.
Detroit-based Rocket Companies Inc (NYSE:RKT) provides a variety of digital services in the home-buying and refinancing sector. It operates a home search platform and provides home and personal loans. It also offers a personal finance app that helps users track spending and manage budgets.
Studio Grand Ouest/Shutterstock.com
On June 30, Benchmark initiated coverage of Rocket Companies Inc (NYSE:RKT) stock with a Buy rating and a price target of $21 on the shares. The brokerage cited favorable mortgage rates and further noted that Rocket could become one of the two leading real estate portals over the next decade.
According to Benchmark, housing platforms that combine artificial intelligence, vertical integration, and the ability to convert intent into transactions will win the industry competition. If this is the case, the brokerage believes Rocket has a major advantage over traditional providers. Rocket has shown that it is open to partnerships across the industry in order to advance its goals and reduce its risks. Additionally, the company is seeking to expand its market share across purchase and refinancing segments.
Detroit-based Rocket Companies Inc (NYSE:RKT) provides a variety of digital services in the home-buying and refinancing sector. It operates a home search platform and provides home and personal loans. It also offers a personal finance app that helps users track spending and manage budgets.
25 days ago
No pair dominated ETF.com's comparison tool in the first half of 2026 more than the VanEck Semiconductor ETF (SMH) against the iShares Semiconductor ETF (SOXX), with 6,743 views. With the AI infrastructure buildout continuing to fuel explosive demand for chips, it's little surprise investors want to know which semiconductor ETF belongs in their portfolio.
On the surface, these two funds look nearly identical — same sector, overlapping holdings, nearly identical expense ratios (SMH at 0.35%, SOXX at 0.34%). But dig into the details and meaningful differences emerge.
The biggest distinction is portfolio construction. SMH holds just 26 stocks, making it a highly concentrated bet on the sector's largest players. NVIDIA alone represents 17.55% of the fund. SOXX, by contrast, holds 31 names and applies a more equal-weight tilt — NVIDIA sits at just 6.81% there, while Micron Technology and AMD each carry larger weights than in SMH.
That difference in construction has translated into divergent performance. Over the trailing year through mid-2026, SOXX returned 169.68% compared to SMH's 135.91% — a stunning gap driven in part by SOXX's heavier exposure to names that outperformed. Over three years, however, SMH holds the edge, returning 63.44% against SOXX's 56.95% CAGR.
Size is also a factor: SMH is the larger fund at $74.4B in AUM versus SOXX's $45.9B, and SMH's average daily dollar volume of $6.1B gives it a slight liquidity advantage. For investors who want pure, high-octane semiconductor exposure in a liquid wrapper, this debate isn't going away anytime soon.
On the surface, these two funds look nearly identical — same sector, overlapping holdings, nearly identical expense ratios (SMH at 0.35%, SOXX at 0.34%). But dig into the details and meaningful differences emerge.
The biggest distinction is portfolio construction. SMH holds just 26 stocks, making it a highly concentrated bet on the sector's largest players. NVIDIA alone represents 17.55% of the fund. SOXX, by contrast, holds 31 names and applies a more equal-weight tilt — NVIDIA sits at just 6.81% there, while Micron Technology and AMD each carry larger weights than in SMH.
That difference in construction has translated into divergent performance. Over the trailing year through mid-2026, SOXX returned 169.68% compared to SMH's 135.91% — a stunning gap driven in part by SOXX's heavier exposure to names that outperformed. Over three years, however, SMH holds the edge, returning 63.44% against SOXX's 56.95% CAGR.
Size is also a factor: SMH is the larger fund at $74.4B in AUM versus SOXX's $45.9B, and SMH's average daily dollar volume of $6.1B gives it a slight liquidity advantage. For investors who want pure, high-octane semiconductor exposure in a liquid wrapper, this debate isn't going away anytime soon.
