Bonds should be an essential part of a well-balanced portfolio. Factual differences between the Schwab Long-Term U.S. Treasury ETF (NYSEMKT:SCHQ) and the State Street SPDR Portfolio Long Term Corporate Bond ETF (NYSEMKT:SPLB) center on credit quality, as the Schwab fund tracks government debt while the State Street fund targets investment-grade corporate bonds.
Investors seeking exposure to long-dated fixed income typically choose between government-backed securities and corporate credit. While both funds focus on maturities exceeding 10 years, they offer significantly different risk-reward profiles based on their underlying debt issuers and the credit risk investors are willing to accept for higher income.
Metric
SPLB
SCHQ

#nysemkt #state

Last Updated: Sept. 16, 2026 at 7:48pm ET
2026년. 9월 16일 오후 2:05 New York 시간
By
Sam Goldfarb
,

#updated #sept #york #goldfarb

This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter.
For the first time in more than three years, the Federal Open Market Committee raised interest rates, following its two-day September meeting on Wednesday.
In a unanimous vote, the FOMC raised the target range for the federal funds rate by 25 basis points to 3.75% to 4%.
"This summer's inflation readings do not tell me that underlying trends have meaningfully improved," Kevin Warsh, chair of the Federal Reserve, said in a press conference following the announcement.
Despite persistent concern about inflation and the rate hike, multifamily executives thought the near-term impact on the market would be limited, as they kept their focus on Treasury rates.

#rate

With a market cap of $30.1 billion, Willis Towers Watson Public Limited Company (WTW) is a leading global advisory, broking, and solutions company, serving clients worldwide. Through its two segments: Health, Wealth & Career and Risk & Broking, the firm delivers services that help organizations manage risk, optimize benefits, and enhance performance.
Companies valued over $10 billion are generally described as "large-cap" stocks, and Willis Towers Watson fits right into that category. Headquartered in London, the United Kingdom, the company combines deep expertise, data-driven insights, and innovative solutions to support businesses of all sizes.
Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week — But Not Because of Oil Prices.
Morgan Stanley Doubles Down on Apple Stock as New Offerings Become 'More Exciting'
The EV Bubble Has Burst. How to Play Rivian Stock Now.

#towers #public

What happened: The 10-year Treasury yield (^TNX) climbed past the 5% threshold on Monday for the first time since October 2023. Meanwhile, the 30-year Treasury (^TYX) yield hovered at 5.38%.
What's behind the move: Bond yields continued their ascent as Brent crude climbed to $108 a barrel, stoking inflation fears and leading investors to price in rate hikes ahead of the Federal Reserve's policy meeting this week.
Goldman Sachs revised its forecast for this week from no change to a rate hike following Friday's August inflation print.
"The report had little impact on our inflation view but pushed market pricing of a hike to nearly 90%, high enough that the FOMC will likely want to avoid the market reaction that would likely follow from remaining on hold," Goldman Sachs' chief economist David Mericle wrote on Sunday night.
Some strategists believe long-dated bond yields may ease if the Fed hikes rates at its Sept. 15-16 meeting.

#inflation #goldman #bond #year

Last Updated: Sept. 11, 2026 at 7:38pm ET
Updated 2026년. 9월 11일 오후 2:12 New York 시간
By
Shradha Dinesh
,

#shradha

Strategy, formerly MicroStrategy, says 91% of its balance sheet rests on money **** ody can take back. JPMorgan runs on deposits customers can pull any day. Strategy calls that the safer design.
The claim comes from a slide that the company put in front of investors. It puts Strategy's short-term funding gap at zero and JPMorgan's at negative $1.2 trillion. Strategy wrote those definitions itself.
"MSTR inverts TradFi," says Strategy.
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Banks borrow short, lend long, and deposits can vanish in a day. Additionally, sometimes loans take years to come back, which is why insurance, regulators and central bank credit exist to cover that gap.

#follow

Losing a CDL medical card ends a driving career but does not automatically qualify a truck driver for Social Security Disability Insurance.
At 61, SSA rules treat trucking skills as non-transferable to other work, making disability approval significantly more achievable than at younger ages.
Starting reduced retirement benefits at 62 during a pending SSDI claim provides income but slightly reduces the final disability benefit amount.
Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite. The SEC legally requires them to put your interests first. Advisor.com's free matching tool pairs you with vetted fiduciaries from major national firms, all in under three minutes. See who you match with today.
He walks into a clinic for the physical he has passed for decades and walks out without the medical certificate that keeps him behind the wheel. At 61, after more than 30 years driving trucks, the paycheck can stop almost overnight. His first instinct is understandable: if a medical condition means he can no longer do the only job he has known, Social Security Disability Insurance (SSDI) should follow.

#walks

Eagle Capital Management, an investment management company, released its second quarter 2026 investor letter. A copy of the letter can be downloaded here. In the quarter, Eagle Capital Management discussed how enthusiasm around AI capital spending has driven strong S&P 500 earnings growth while also increasing risks from elevated valuations, concentrated demand, and aggressive investment ***** umptions. Eagle remains a strong believer in AI but prefers constructing a portfolio that can perform across multiple outcomes rather than relying on one forecast. The firm believes current earnings can overstate underlying economics because semiconductor equipment is depreciated over several years, while free cash flow growth remains much weaker. It also expects competition and additional capacity across AI labs, hyperscalers, and semiconductors to eventually create winners and losers. These dynamics are encouraging Eagle to recycle capital toward attractive opportunities outside the most crowded AI trades while maintaining selective exposure to high-quality beneficiaries. The portfolio trades at a 20% market discount with faster expected EPS growth. Please review the Strategy's top five holdings for key selections in 2026.
In its second-quarter 2026 investor letter, Eagle Capital Management highlighted Danaher Corporation (NYSE:DHR). Danaher Corporation (NYSE:DHR) is a healthcare and life science tools company operating through Biotechnology, Life Sciences, and Diagnostics segments. On September 02, 2026, Danaher Corporation (NYSE:DHR) closed at $209.91 per share. Over the past month, Danaher Corporation (NYSE:DHR) returned 4.97%, and its shares gained 5.47% over the past 52 weeks. Danaher Corporation (NYSE:DHR) has a market capitalization of $147.56 billion.
Eagle Capital Management stated the following regarding Danaher Corporation (NYSE:DHR) in its Q2 2026 investor letter:
"High quality with low volatility (24% of capital): London Stock Exchange, Danaher Corporation (NYSE:DHR), S&P Global, Mastercard, A.J. Gallagher: Approximately a quarter of Eagle's portfolio is spread across a handful of superb businesses that exhibit high and stable margins, strong returns on capital, wide competitive advantages, and well above GDP growth. We expect the group to deftly navigate the integration of AI into their markets. Most operate with a combination of oligopoly/monopoly ***** ets, network effects, or regulatory moats. Danaher is a leading life sciences company, selling a broad mix of consumables and tooling for biological R&D and drug production.
A few years ago, these stocks were priced for perfection. Their attractive characteristics were prized, and the group traded at more than 30x earnings. Over the past five years, the businesses have grown significantly, while the stocks have de rated. Today, the group trades at a high teen multiple. In a market that is growing EPS at nearly 20%, their steady growth isn't scarce. However, as earnings in the economy nor

Baron Capital, an investment management company, released its second-quarter 2026 investor letter for its "Baron Fifth Avenue Growth Fund". The letter can be downloaded here. The fund achieved a strong quarter, gaining 24.6% (Institutional Shares), outperforming the Russell 1000 Growth Index (16.7%) and the S&P 500 (15.2%). Year to date, it's up 11.7%, surpassing its benchmarks. The first half of 2026 mirrored the previous year, with a 10.4% drawdown in Q1 due to geopolitical tensions, similar to last year's tariff-related decline. However, the fund rebounded with a 24.6% gain in Q2 after a cease-fire and declining oil prices. Stock selection drove the outperformance, contributing 940bps, while sector allocation detracted 152bps. In a volatile market, the firm remains focused on identifying high-quality, competitively advantaged companies and is optimistic about long-term prospects, investing when prices align with intrinsic values. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Baron Fifth Avenue Growth Fund highlighted Coupang, Inc. (NYSE:CPNG). Coupang, Inc. (NYSE:CPNG), a Korean technology and e-commerce platform that operates through Product Commerce and Developing Offerings segments, detracted from the fund's performance this quarter. On August 31, 2026, Coupang, Inc. (NYSE:CPNG) closed at $16.06 per share. Over the past month, Coupang, Inc. (NYSE:CPNG) declined 4.29%, and its shares are down 43.47% over the past year. Coupang, Inc. (NYSE:CPNG) has a market capitalization of $28.87 billion, and its stock has traded within a 52-week range of $14.92 to $34.08.
Baron Fifth Avenue Growth Fund stated the following regarding Coupang, Inc. (NYSE:CPNG) in its Q2 2026 investor letter:
"Coupang, Inc. (NYSE:CPNG), Korea's largest e-commerce platform, detracted from performance with shares down 7.7%. The stock came under pressure following first-quarter results, where in-line revenue was overshadowed by softer second-quarter guidance as capacity and supply chain investments made ahead of Coupang's 2025 data breach weighed on margins while customer volumes recovered. Sentiment was further weighed down by a record KRW 624.7 billion (about US $430 million) privacy fine stemming from an investigation into the breach, while a rotation of fast money into AI and semiconductor names added to the weakness. Despite these headwinds, our conviction remains intact. We view the margin pressure as temporary, and the fine removes a key overhang and reinforces our belief that the breach does not reflect a structural loss of market share. By the end of April, Coupang recovered roughly 80% of the post-breach decline in WOW Membership (its paid subscription program), with returning members resuming prior spending levels. We continue to view Coupang as a competitively advantaged e-commerce business gaining share in its core market while scaling Taiwan operations."

#coupang #NYSE #letter

Interested in Cadence Design Systems, Inc.? Here are five stocks we like better.
AI agents are becoming a major growth driver for Cadence as chip-design workloads could increase 30 to 40 times over the next five to six years. Its ChipStack, Veristack, Innostack and Aurastack tools are designed to automate design and verification tasks while expanding access to advanced chip development.
Cadence reported broad-based momentum, including 24% second-quarter revenue growth, and expects 19% full-year growth with a 44.25% non-GAAP operating margin. Its IP business is on track to reach a $1 billion annualized run rate, while the company continues to prioritize higher-margin EDA software.
The company ended the quarter with a record $8.1 billion backlog and approximately 58% remaining-performance-obligation coverage for the next 12 months. Cadence also sees continued opportunity in China and in simulation platforms such as Millennium, which customers have reported can deliver productivity gains of 50% to 60% in some applications.
Shares Fall, Targets Rise—Markets and ***** ysts Diverge on Synopsys

#cadence #next #Margin

Newmont Corporation (NYSE:NEM) shares climbed 7.9% to close at $125.08 on August 19 as gold gained more than 2% and traded near $4,516 per ounce. The gold rally coincided with Treasury bond buybacks, lower yields and a weaker dollar. Whether historically elevated bullion prices can continue outrunning higher mining costs is now the central question.
Newmont Corporation (NYSE:NEM) realized an average gold price of $4,414 per ounce in the second quarter. However, attributable gold production declined to 1.29 million ounces from 1.48 million ounces a year earlier. That combination leaves the company with exceptional commodity-price leverage but less support from production growth.
Newmont Corporation (NYSE:NEM) generated $2.2 billion of free cash flow, a non-GAAP measure, and ended June with $9.0 billion of cash, $13.0 billion of liquidity and $3.4 billion of non-GAAP net cash. The balance sheet gives management substantial flexibility to return capital without sacrificing investment in its mines.
Newmont Corporation (NYSE:NEM) also had $4.3 billion remaining under its $6.0 billion share-repurchase authorization. Continued buybacks at a time of strong cash generation could amplify the per-share benefit of elevated gold prices.
Newmont Corporation (NYSE:NEM) has considerable sensitivity to further bullion gains. Newmont's 2026 sensitivity ******* ysis estimates that every $100-per-ounce change in gold prices affects pretax revenue and costs by approximately $505 million. Second-quarter realized pricing exceeded Newmont's non-GAAP gold by-product all-in sustaining costs of $1,621 per ounce by approximately $2,793 per ounce.

#billion #cash #prices

Abbott Laboratories (NYSE:ABT) has agreed to pay $670 million to settle claims involving about 2,000 people who alleged that its specialized preterm infant formulas contributed to necrotizing enterocolitis (NEC), a serious and potentially fatal bowel disease affecting premature infants. The settlement also resolves Abbott's appeal of a $495 million verdict involving an Illinois mother, after that judgment was upheld by a Missouri appeals court. Abbott did not admit liability and continues to maintain that its products are safe.
The bigger issue for investors is that the settlement does not fully end the litigation. Abbott says claims from as many as 12,700 people remain, although that figure includes duplicate and unsupported claims as well as cases where it is unclear which manufacturer's formula was used. More than 825 federal cases are consolidated in Chicago, with additional cases pending in state courts.
That makes the settlement both a cost and a potential step toward reducing uncertainty around the litigation.
The strongest argument for Abbott Laboratories (NYSE:ABT) is that the $670 million settlement could put a meaningful portion of the legal risk behind the company. Rather than continuing to spend years fighting individual cases and risking additional large jury awards, Abbott has chosen to settle with a sizable group of plaintiffs. The company said the agreement is intended to substantially resolve the broader litigation.
There is also an important distinction between the products involved in the lawsuits and Abbott's broader nutrition business. The litigation concerns specialized formulas and products used for premature infants in hospitals, rather than the ordinary infant formulas sold through stores. That limits the direct exposure of Abbott's wider consumer nutrition portfolio.

#cases #formulas #laboratories

When Nvidia (NVDA) reports its must-read earnings on Wednesday evening, it will confront this frustrating reality.
Strong earnings reports haven't been too kind to Nvidia's stock of late.
Nvidia stock has fallen in response to earnings in six of the past eight quarters, including the last four, per Yahoo Finance AlphaSpace ****** ysis.
The reality is that the market is positioned for the company to post something great and for CEO Jensen Huang to sound super bullish on the earnings call.
The market also knows there is minimal downside risk to Nvidia's growing investment portfolio, given the rising valuations (see Anthropic (ANTH.PVT), for example) being afforded to most privately held names in artificial intelligence.

#nvda

By Juveria Tabassum and Nicholas P. Brown
Aug 19 (Reuters) - Target raised its annual sales forecast for a second time this year as efforts to cut prices and freshen merchandise yielded results, while its quarterly profit received a nearly $1 billion boost from tariff refunds.
It was the third straight strong quarter for Target, ‌and the results suggest the turnaround plan of new CEO Michael Fiddelke is taking root ahead of the all-important holiday shopping season, even as high fuel prices ‌pressure household budgets.
Quarterly comparable sales grew 3.8% and beat estimates of 2.5% growth in its earnings report, which Morningstar ****** yst Brett Husslein had flagged as a key test on whether Target can consistently execute on price, product mix and store experience.
The sales growth was powered by a 3.6% rise in traffic and an 8.7% jump in digital comparable sales, as shoppers opted for same-day delivery. However, ticket size was about flat.

#comparable

Our ****** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Net ****** et Value (NAV) increased 4% to $12.52 per share, driven by a meaningful recovery in loan prices and CLO valuations following first-quarter volatility.
Management attributed the early-year market pressure to concerns regarding AI's impact on software borrowers and geopolitical developments, rather than a broad deterioration in credit fundamentals.
The company realized convexity gains sooner than anticipated due to elevated refinancing, reset, and call activity, which triggered early repayments of CLO debt investments purchased at discounts.
Active portfolio management involved rotating capital away from underperforming CLO collateral managers toward higher-conviction opportunities in CLOs and private credit.

#credit #value #analysts

The momentum behind artificial intelligence (AI)-linked nuclear energy stocks hit a brick wall in July, sending high-flying names like Oklo (NYSE: OKLO) into a nose-dive.
Shares of the nuclear energy start-up tumbled 25.8% last month, according to data provided by S&P Global Market Intelligence. By the end of July, the drop had wiped about 80% of the stock's value from its October 2025 peak of $193.84.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
For a company promising to fuel the AI build-out with fast-fission reactors, winning important approvals from the Department of Energy (DOE), and securing massive partnerships, the sudden mid-summer fallout left many investors asking where the power went.
Oklo is building fast-fission nuclear power plants called Aurora powerhouses and is still a pre-revenue company.

#oklo #company #called

Palantir Technologies (PLTR) has posted the kind of earnings report that makes a pricey company seem nearly fair.
Revenue surged 93% year over year. U.S. commercial sales jumped 149%. Government revenue climbed 90%. Profit margins expanded while growth accelerated, an unusual combination for any software company, let alone one approaching $2 billion in quarterly revenue.
And they responded accordingly.
Palantir shares surged 29.5% on Aug. 4, according to CNBC, its highest one-day percentage gain since February 2024, after the firm raised its annual projection and beat Wall Street's second-quarter estimates.
That surge presented a difficult dilemma for shareholders and would-be buyers.

#surged #year #technologies

Baron Capital, an investment management company, released its Q2 2026 investor letter for the "Baron Health Care Fund". A copy of the letter is available to download here. The Fund gained 11.99% during the quarter, compared with the 10.48% gain for the Russell 3000 Health Care Index and the 15.44% gain for the Russell 3000 Index. Since inception, the Fund appreciated 10.61% on an annualized basis, compared with 10.02% for the Benchmark and 14.83% for the Index. Strong stock selection in pharmaceuticals, biotechnology, health care equipment, and life sciences tools and services supported the Fund's outperformance, although limited exposure to managed care stocks reduced relative returns. The Fund remains positive on health care due to improving biotechnology funding, strong acquisition activity, recovering managed care margins, and growth from an aging population, chronic disease, medical innovation, and higher health care spending. In addition, please check the Fund's top five holdings to know the best picks in 2026.
In its second-quarter 2026 investor letter, Baron Health Care Fund highlighted Intuitive Surgical, Inc. (NASDAQ:ISRG). Intuitive Surgical, Inc. (NASDAQ:ISRG) develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. On August 3, 2026, Intuitive Surgical, Inc. (NASDAQ:ISRG) closed at $375.41 per share. The one-month return of Intuitive Surgical, Inc. (NASDAQ:ISRG) was -13.53% and its shares lost 26.60% over the past 52 weeks. Intuitive Surgical, Inc. (NASDAQ:ISRG) has a market capitalization of $132.62 billion.
Baron Health Care Fund stated the following regarding Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q2 2026 investor letter:
"Intuitive Surgical, Inc. (NASDAQ:ISRG) sells robotic-assisted surgical systems. Shares declined after the company's first-quarter U.S. system placements came in below investor expectations. Medical device stocks also broadly underperformed the market amid concerns that health care utilization trends could decelerate following the expiration of Affordable Care Act (ACA) subsidies. Concerns were further compounded by the potential impact of Medicaid work requirements expected to take effect in 2027. Despite these headwinds, we believe Intuitive can continue to grow revenue at a mid-teens rate for many years and remain positive on the company's long-term growth outlook."
Intuitive Surgical, Inc. (NASDAQ:ISRG) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 103 hedge fund portfolios held Intuitive Surgical, Inc. (NASDAQ:ISRG) at the end of the first quarter which was 109 in the previous quarter. While we acknowledge the potential of Intuitive Surgical, Inc. (NASDAQ:ISRG) 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

Sana and Arhem knew going into marriage that money would be a challenge. What Sana didn't know until a month before their wedding was that Arhem had accumulated $30,000 in credit card debt.
When Arhem disclosed it, Sana was devastated — by both the amount and the secret. Then the debt grew again. By the time the couple appeared on Ramit Sethi's Money for Couples podcast, their total debt had reached $165,000 against a combined income of $188,000 — and the financial betrayal had nearly ended the relationship.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going

#arhem #nearly #actually #ramit

The world is still not ready for cyberattacks. Cities, hospitals, schools, businesses, and even the U.S. government continue to face mounting cybersecurity risks, with artificial intelligence (AI) making security issues far more complicated. After all, as Palo Alto Networks (PANW) notes, "AI enables threat actors to move from initial access to exfiltration in minutes, effortlessly bypassing traditional defenses."
In response, Microsoft (MSFT) recently unveiled its first cybersecurity AI model: MAI-Cyber-1-Flash. The company also introduced Project Perception, an AI-powered security platform designed to help organizations detect, ******* yze, and respond to cyber threats more quickly.
Cathie Wood Doubles Down on Tesla and ******* eX as Wall Street Turns Cautious
Why BlackRock Is Betting Big on Ondas Stock Now
Hoping for Lower Prices at the Gas Pump? After Exxon Doubles Profits, CEO Darren Woods Says 'I Wouldn't Hold My Breath.'

#cyber #Cybersecurity #palo #Microsoft

Interested in Polaris Renewable Energy Inc.? Here are five stocks we like better.
Second-quarter generation fell 7.7% year over year, while revenue declined 5% and adjusted EBITDA dropped 11%, primarily due to Dominican Republic curtailment, lower Nicaragua geothermal output and more normal hydro conditions in Peru and Ecuador.
Dominican Republic curtailment improved to 29% in the quarter from 42% in Q1, while Nicaragua's binary plant operated about 0.75 MW below capacity; Polaris expects a potential recovery through an acidification program in early 2027.
Polaris is advancing growth projects, including the Puerto Rico ASAP battery project targeted for mid-2027 operation and 250 MW of solar capacity in Mexico with battery storage. Management estimates the Mexican projects could generate roughly $25 million to $30 million in combined EBITDA.
Polaris Renewable Energy (TSE:PIF) reported lower second-quarter generation and financial results compared with an exceptionally strong period a year earlier, as curtailment in the Dominican Republic, normalizing hydrological conditions and expected geothermal declines weighed on output.

#republic #year

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
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You can earn 75,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
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This article was originally published on ETFTrends.com.
To the dismay of advisors and fixed income investors, the words "clear" and "overt" seem to have left the Federal Reserve's lexicon. However, there are avenues for investors looking for the combination of elevated income and reduced rate risk.
The WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) is one of the ETF's that accomplishes those objectives. The $260.2 million HYZD, tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. It could be a valuable tool as new Fed Chairman Kevin Warsh scrutinizes the central bank's data inputs, balance sheet, and commentary on rates.
"In terms of forward guidance, investors have already witnessed the Chairman's plans where the goal is to essentially remove this form of communication to the markets," observed WisdomTree. "Some clear-cut examples were the scaled back, just the facts, Greenspan-esque, June FOMC policy statement as well as Warsh's non-participation in the dot plot. The balance sheet question will take longer to resolve, but the examination of the data the Fed uses to set policy deserves some attention."
HYZD turns 13 years old in December. It carries a 30-day SEC yield of 6% and an effective duration of 0.30 years. For many investors, that high yield and low duration would be enough. No further examination required. However, it is worth digging deeper into HYZD.

#duration #income

Dodge & **** Fund, an investment management company, released its second-quarter 2026 investor letter for "Dodge and **** Stock Fund". A copy of the letter can be downloaded here. Despite volatile oil prices and rising inflation, U.S. equities reached record highs in Q2 2026, driven by a technology-led rally, particularly in memory semiconductors. The Fund's Class A shares returned 5.57%, underperforming the S&P 500 Index's 15.20% return and the Russell 1000 Value Index's 13.84% gain, mainly due to underweighting in Information Technology and weak performances from several holdings. Concerns over AI disruption negatively impacted companies with strong franchises. The Fund's bottom-up investment approach allowed it to acquire shares in industry leaders with strong long-term fundamentals. The firm believes that increased exposure to high-quality businesses and a diversified portfolio positions the Fund well for future growth. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Dodge and **** Stock Fund highlighted Thermo Fisher Scientific Inc. (NYSE:TMO) as a newly added position. Thermo Fisher Scientific Inc. (NYSE:TMO) is a life science company focusing on providing life sciences solutions, **** ytical instruments, specialty diagnostics, and laboratory products and biopharma services. On July 21, 2026, Thermo Fisher Scientific Inc. (NYSE:TMO) closed at $523.46 per share, reflecting a market capitalization of $194.53 billion. Thermo Fisher Scientific Inc. (NYSE:TMO) posted a one-month return of 6.35%, while its shares gained 12.16% over the past 52 weeks.
Dodge and **** Stock Fund stated the following regarding Thermo Fisher Scientific Inc. (NYSE:TMO) in its Q2 2026 investor update:
"During the second quarter, concerns about AI disruption led to declines in a number of companies with strong franchises and solid profitability. Our bottom-up approach led us to establish several new positions in industry leaders whose shares have lagged, and where we believe the long-term fundamentals are not fully reflected in their current prices. We initiated a position in Visa, a leader in global payments, an industry characterized by strong network effects and high barriers to entry.
We also started a position in Thermo Fisher Scientific Inc. (NYSE:TMO), a leading global provider of life sciences tools, scientific instruments, and laboratory products and services. The company's shares recently declined to their lowest valuation in a decade as the industry navigates cyclical weakness due to customers' post-COVID inventory destocking. Despite this near-term pressure, Thermo Fisher generates substantial recurring revenues and has a track record of successful acquisitions. We believe the company's long-term prospects remain attractive and took advantage of the lower share price to establish a position."

#shares

There's a corner of the artificial intelligence trade that hasn't been as flashy as memory giants Micron (MU) or SK Hynix (SKHY), but Wall Street says it could be poised for a strong run.
Analog chipmakers, which provide the components that manage power flow in everything from cars to data centers, have emerged as beneficiaries of the AI infrastructure boom.
"AI is increasingly becoming a meaningful **** og opportunity, with demand extending beyond the rack into power infra," Bank of America **** yst Vivek Arya wrote in a note Monday.
The firm expects most AI-related sales across the **** og chip group to grow 50% to more than 100% this year as **** og chips become increasingly important, given that AI data centers require massive amounts of power management.
Unlike memory chips, **** og semiconductors are tied to a much wider range of industries, including factory automation, electronics, aerospace and defense, and power infrastructure.

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The biggest fear surrounding artificial intelligence is that it will replace workers. Amazon and Blue Origin founder Jeff Bezos thinks it could do the opposite.
Bezos pushed back against growing concerns over AI-driven job losses during a CNBC interview in June, arguing that many of the smartest voices warning about widespread unemployment are missing the bigger picture.
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Key Takeaways
Nearly 989,000 wallets have collectively lost $3.81 billion on the TRUMP memecoin, according to blockchain **** ytics firm Nansen.
After peaking above $75 shortly after launch, the memecoin now trades around $1.65, erasing nearly all of its early gains.
President Donald Trump's financial disclosure showed he received approximately $636 million from the TRUMP memecoin venture.
The collapse of President Donald Trump's official memecoin has wiped out billions of dollars in investor wealth, according to new blockchain data from **** ytics firm Nansen.

The market has priced this media and technology giant like a business in terminal decline, yet its financial statements tell a story of relentless cash generation.
Comcast (CMCSA) connects millions of American homes to the internet and creates the movies and shows they watch. Yet the market has treated its stock like a relic. Shares trade about 41% below their two-year high, a markdown that suggests a fundamental breakdown in the business. The company's cash flow statement, however, keeps disagreeing with the stock chart.
Over the last twelve months, Comcast generated free cash flow equal to 21.1% of its entire market value. For context, the median S&P 500 company has a free cash flow yield of 4.1%. This isn't a shrinking business bleeding cash; its revenue over the same period grew 1.4%. The core question for an investor today is sharp and simple: Is this business actually broken or just sharply marked down?
The cash statement tells a story of stability.
Despite the stock's poor performance, the business continues to operate at an immense scale. The company produced $125.28 billion in revenue over the last year, supported by a 15.3% operating margin. In its most recent quarter, it generated $3.9 billion of free cash flow and returned $2.5 billion to shareholders through dividends and buybacks. Its price-to-earnings multiple sits at 4.5x, a steep discount to the S&P 500 median of 24.9x.