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Management attributed strong top and bottom-line growth to aggressive new account wins and share gains rather than market recovery, which remains largely absent.
The Paint Stores Group outperformance was driven by Protective and Marine momentum in data centers and semiconductor infrastructure, offsetting persistent weakness in new residential markets.
Commercial segment gains are the result of a 24-month targeted strategy to capture market share in an underlying environment that remains soft.
Performance Coatings growth across all regions was led by heavy equipment and packaging, specifically benefiting from customer conversions to BPA-free solutions.

#Growth #Share #management #paint

A single first RMD can push a retiree two IRMAA brackets higher, jumping Medicare Part B premiums from $203 to $406 per month.
IRMAA brackets work as cliffs, meaning that crossing a threshold by even $1 triggers the full surcharge for the entire year based on income from two years prior.
Qualified Charitable Distributions and pre-RMD Roth conversions are the primary tools retirees use to reduce IRMAA exposure before distributions begin.
Two retirees, same $1 million, same 4% rule, buy one finished with $1.4 million, the other hit $0 in 12 years. Our free reader guide explains the flaw that separated them, and the income-first method built to avoid it.
The standard 2026 Medicare Part B premium is $202.90 a month, up from $185.00 in 2025, and for most beneficiaries, that number is the whole story. For a retiree who took his first Required Minimum Distribution in December and watched it land on top of his other income, the figure that arrived from Social Security was different: $405.80 a month. Same coverage, same doctors, two brackets higher on the Income-Related Monthly Adjustment Amount schedule.

#first #part

Key takeaway: The Columbus, Ohio, company completed the Cadence system conversion in late June, which should serve as a springboard to higher growth in the third and fourth quarters, executives said.
Supporting data: The conversion gives Huntington much more control over and insight into more than 1.4 million deposit accounts acquired from Cadence.
Expert quote: "This was the largest conversion we've ever done. It was the fastest we've ever done, and it was the best we've done, at least in my tenure." — Huntington Chairman and CEO Steve Steinour
While higher funding costs left their mark on Huntington Bancshares' second-quarter results, the Columbus, Ohio-based company is forecasting a strong finish to 2026 now that its most recent merger-related conversion is complete.
Business should pick up in the third quarter before peaking during the final three months of 2026, Chief Financial Officer Zach Wasserman said Thursday on a conference call with **** ysts.

#conversion #huntington #we 've

SPY's 8.82% early-2026 slide let IRA holders convert shares at a lower taxable value, sheltering the entire rebound inside a Roth permanently.
Filling the 22% bracket during a dip and paying conversion taxes from a taxable account moves every share into the Roth intact.
Since 2018, conversions cannot be undone, and large ones can trigger IRMAA surcharges or push long-term capital gains into a higher rate.
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If you have a traditional IRA or an old 401(k), the IRS runs a quiet sale every time the market dips. It is baked into how the tax code prices a Roth conversion: you pay ordinary income tax on the dollar value of what you move, on the day you move it. When your portfolio is down, that bill shrinks even though your share count does not.

#move #since #irmaa

As the old adage goes, the only certainties in life are death and taxes. But an old rule applied in a new way for ETFs challenges one of those certainties.
Section 351 exchanges rely on a little-known provision of the U.S. tax code that, under specific conditions, allows appreciated securities to be contributed to a newly formed ETF without triggering an immediate taxable event. Especially for investors with concentrated stock positions, 351 conversions can provide a tax-efficient path to enhancing portfolio diversification. (Read: "Got Cap Gains? How Portfolios Can Move Into ETFs Tax-Free")
While Section 351 has been around for decades, only recently have ETF issuers applied the rule towards new ETFs. We recently sat down with independent tax management expert Brent Sullivan to better understand the opportunities (and obstacles) ETFs launched via Section 351 may present to investors.
Below is a lightly edited transcript of our conversation.
You're obviously passionate about taxes. Why does this topic interest you so much?

#etfs #section #taxes #applied

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters.
(Bloomberg) -- The US Treasury Department has expressed concern over a number of high-profile tax strategies touted by Wall Street that it says may be "too good to be true."
Officials told an industry gathering on Tuesday morning in New York the department considers that some of these products may be abusive, and said it is actively evaluating the tools available to address them.
However, they stopped short of announcing new guidelines, saying instead they "expect a serious dialogue with the market before positions harden" and investors are placed at more risk.
The strategies under scrutiny include so-called 351 conversions, box-spread exchange-traded funds, products that offset ordinary income, and funds that avoid dividend income by flipping between other ETFs. Speaking at a Wall Street Tax ***** ociation seminar, Kevin Salinger, deputy ***** istant secretary for tax policy at the Treasury, and Erika Nijenhuis, senior counsel, said the department has no wish to over-engineer rules, but it cannot ignore a market developing around transactions with results Congress did not appear to intend.

#wealthmanagement #market

L1 Capital, an investment management firm, released its "L1 Long Short Fund" second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The market's main themes in the June quarter were the Iran conflict and developments in the AI sector. These trends shifted after oil prices declined due to a ceasefire agreement, leading to a reversal. AI stocks surged, driven by strong earnings, rapid capital investment, and critical supply shortages. During this period, the L1 Long Short Fund achieved notable gains, rising 12.7% compared to the ASX200AI's 4.0%, with year-to-date returns at 12.5% versus 2.4%. U.S. equities outperformed, especially those benefiting from AI-related capital expenditure. The firm is satisfied with the portfolio's positioning, emphasizing strong medium-term growth potential, supported by attractive valuations, solid earnings, and robust cash flow. In addition, you can check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, L1 Long Short Fund highlighted James Hardie Industries plc (NYSE:JHX). Based in Dublin, Ireland, James Hardie Industries plc (NYSE:JHX) is a building materials company that manufactures and supplies fiber cement, fiber gypsum, and cement-bonded building products. On July 17, 2026, James Hardie Industries plc (NYSE:JHX) closed at $25.82 per share, reflecting a market capitalization of $14.98 billion. James Hardie Industries plc (NYSE:JHX) posted a one-month return of 5.34%, while its shares lost 1.64% over the past 52 weeks.
L1 Long Short Fund stated the following regarding James Hardie Industries plc (NYSE:JHX) in its Q2 2026 investor update:
"James Hardie Industries plc (NYSE:JHX) (+46%) shares recovered over the quarter following easing Middle East tensions and on management's release of a constructive FY27 outlook, which included a pathway to return the core North American fibre cement business to volume growth, despite a subdued U.S. housing market. We expect this volume recovery to be supported by normalisation of channel inventory following the 2025 destocking period, improving execution in repair & remodel / smaller-builder channels, the Trim-Over installation method, competitor exits and continued material conversion from vinyl and wood.
In our view, the market is still applying a discounted multiple to James Hardie to reflect recent execution, governance and housing-cycle concerns. As these issues are progressively addressed, we believe there is scope for both earnings growth and recovery in the valuation multiple over time."

#NYSE

Astera Labs (NASDAQ:ALAB) develops, produces, and markets connectivity solutions utilizing a software-defined architecture to empower customers to deploy and operate high-performance cloud and artificial intelligence systems at scale.
While expanding its Taiwan operations and related facilities to facilitate system integration with local manufacturers, it was added to the Nasdaq-100 Index and reported a 26% net income margin for the quarter ended March 31, 2026.
Navitas Semiconductor (NASDAQ:NVTS) designs, develops, and markets gallium nitride power integrated circuits, silicon system controllers, and digital isolators for various power conversion and charging applications around the world.
It responded to a new patent infringement lawsuit filed by Wolfspeed, issued earn-out shares to satisfy contingent obligations, and reported a negative 318% EBIT margin for the quarter ended March 31, 2026.
Revenue gives investors an essential baseline measure of the total money brought in by a business over a given period before any operating expenses, taxes, or interest payments are subtracted. This metric reveals whether an organization is successfully attracting customers and growing its overall business volume over time.

Converting $600,000 in $75,000 annual Roth IRA slices locks in sub-22% tax rates before RMDs stack with Social Security at 73.
Spreading conversions below the $218,000 IRMAA threshold avoids Medicare surcharges reaching $6,900 per person, since any overage triggers the full cliff penalty.
Delaying Social Security to 70 adds 8% yearly to the benefit while keeping taxable income low, maximizing Roth conversion headroom during the window.
Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here.
A 63-year-old couple with $1.5 million in a traditional 401(k) and no earned income has just entered the most valuable tax planning window of their lives. From now until age 73, when required minimum distributions begin, they get to decide exactly how much taxable income to show each year. Most people fill that window with a few small IRA withdrawals and a delayed Social Security claim. That decision costs tens of thousands of dollars in avoidable taxes.

Harris Oakmark recently released its second-quarter 2026 investor letter for the "Oakmark Global Fund". A copy of the letter can be downloaded here. It is a non-diversified fund that focuses on long-term capital appreciation by investing in common stocks of U.S. and non-U.S. companies. In the second quarter, the fund (Investor Class) delivered a return of 7.89%, lagging the benchmark, the MSCI World Index's 13.76% return. Energy and industrials were the top performance contributors at the sector level, while health care and consumer discretionary detracted from performance. AI remains a key market theme. The firm focuses on evaluating companies based on their competitive advantages, long-term cash flow potential, and valuation, not predictions. In addition, you can check the Fund's top five holdings to determine its best picks for 2026.
In its Q2 2026 investor letter, Oakmark Global Fund highlighted TheCooper Companies, Inc. (NASDAQ:COO) as a newly added position. The Cooper Companies, Inc. (NASDAQ:COO) is a medical device company that operates through CooperVision and CooperSurgical segments. On July 14, 2026, The Cooper Companies, Inc. (NASDAQ:COO) closed at $68.51 per share. One-month return of The Cooper Companies, Inc. (NASDAQ:COO) was 7.35%, and its shares lost 3.95% over the past 52 weeks. The Cooper Companies, Inc. (NASDAQ:COO) has a market capitalization of $13.36 billion.
Oakmark Global Fund stated the following regarding The Cooper Companies, Inc. (NASDAQ:COO) in its Q2 2026 investor update:
"The Cooper Companies, Inc. (NASDAQ:COO) is a U.S.-headquartered medical device company that manufactures contact lenses and women's health products. The contact lens industry benefits from an oligopolistic market structure with significant barriers to entry, highly recurring revenue streams, and historically has consistently positive pricing dynamics that support mid single-digit market growth over time. Cooper has an impressive track record of contact lens market share gains, which we attribute to its leading position in specialty lenses and its unique private-label strategy. We are encouraged by recent steps taken to improve free cash flow conversion, reaccelerate growth, and optimize the product portfolio. The stock has pulled back sharply alongside the broader medical technology sector and now trades at a meaningful discount to public peers, private market transactions, and its own trading history. We were pleased to initiate a position at what we view as an attractive entry point relative to our estimate of intrinsic value."

Key Takeaways
Depositing into DeFi lending protocols or liquidity pools no longer triggers immediate capital gains tax.
Tax liability defers until a genuine economic disposal: a sale, a swap outside DeFi, or a fiat conversion.
CARF reporting from UK platforms to HMRC began on January 1, 2026, expanding surveillance alongside the relief.
HM Revenue and Customs (HMRC) confirmed on February 12, 2026, that the UK government is advancing a No Gain, No Loss, or NGNL, tax treatment for specific decentralized finance activities covering lending and liquidity provision.

J.B. Hunt Transport Services is seeing heightened interest for its intermodal and dedicated services, given a steady exodus of non-compliant drivers and following the Supreme Court's ruling widening liability exposure for brokers. The changing landscape is forcing shippers to seek "safe, secure and reliable capacity," the company said Wednesday in conjunction with its second-quarter report, which was significantly better than ***** ysts expected.
The Lowell, Arkansas-based company's second quarter marked a record for intermodal volumes. It reported a 10% year-over-year increase in loads, outpacing 8% y/y growth in total intermodal carloads on the U.S. Class I railroads. (North American containers were up 5% y/y).
"[Intermodal] conversion activity is at levels we have not seen in more than a decade," said Darren Field, president of intermodal, on a Wednesday evening conference call with ***** ysts.
The company's dedicated truckload pipeline ended the period at an all-time high.
J.B. Hunt's (NASDAQ: JBHT) operating leverage was again evident in the period. It grew operating income 32% y/y to $259 million on a 19% increase in revenue. The company has removed $135 million in structural costs over the past year through AI-led and other automation initiatives.

The Los Angeles Rams made a series of aggressive offseason trades to overhaul their defense, sending multiple first-round picks and rising young edge rusher Jared Verse to the Cleveland Browns in exchange for star pass rusher Myles Garrett, while also acquiring cornerback Trent McDuffie from Kansas City and signing free-agent corner Jaylen Watson.
The moves were clearly a direct response to how the Rams' defense unraveled in the playoffs, and ESPN's Ben Solak explains that the Garrett-for-Verse swap directly targets a finishing problem and opens up new avenues for defensive coordinator Chris Shula in 2026 and beyond.
A wonderful bull rusher, Verse often demolished the pocket and created pressure but was unable to finish his rushes under control. He has a career pressure-to-sack ratio of 8.4%, which is fourth worst among all edges over the past two seasons. Garrett's recent pressure-to-sack ratio was obviously ballooned by his record-setting season, but over his career, he has a 19.3% conversion rate -- more than double that of Verse.
Because Verse was such a wrecking ball, Shula would wisely use him as the crasher on stunts, twists and other defensive line games. With a runway into a tackle, Verse could break pocket integrity and flush out the quarterback, where a waiting looper or blitzer could clean him up. It was Shula's way of converting Verse's pressures into team sacks, as Verse couldn't easily convert them into individual sacks. Cody Alexander of Match Quarters charted stunt rate last year and had the Rams running more defensive line games than any other team in the league by a pretty large margin.
With Garrett, Solak suggests Shula will lean into more straightforward four-man rush opportunities, often overloading the line away from Garrett to isolate him in one-on-one matchups. Still, Shula is expected to retain some stunt packages to maximize interior rushers like Byron Young and Kobie Turner, using Garrett's presence to draw extra blocking attention and open lanes elsewhere on the line.

TON Strategy Co (NASDAQ:TONX) is one of the 10 Fastest Growing Tech Penny Stocks to Buy.
On July 1, 2026, TON Strategy Co (NASDAQ:TONX) announced that it entered into a Rule 10b5-1 trading plan to facilitate the repurchase of common stock during a two-month period beginning July 1. The plan was established under the company's existing $250M stock repurchase authorization announced on September 3, 2025. Virtu Financial will serve as the executing broker under the plan.
On June 15, TON Strategy highlighted the TON community's rebrand of Toncoin, the native currency of The Open Network, to "Gram." The rebrand followed a community governance vote that concluded on June 8, 2026, with public reports indicating that 81.22% of participating voting power supported the proposal. TON Strategy said the rebrand changes the native **** et ticker, while the underlying blockchain and network name remain TON. No token swap, migration, bridge, claim, or conversion is required, and TON Strategy's Nasdaq ticker, TONX, is unchanged.
CEO Kevin Wilson called the move from Toncoin to Gram an "important identity milestone" for the TON ecosystem, saying the new name can help make the network easier for users to understand as TON develops around Telegram-native use cases. The company also said recent TON ecosystem developments have focused on improving usability, performance, and developer experience.
TON Strategy Co (NASDAQ:TONX) operates as an interactive video-based social commerce company.

The Boston Celtics beat the Toronto Raptors 87-75 despite a late push from the Las Vegas version of the Raptors, Celtics second round pick Dillon Mitchell leading all scorers with 24 points on 10-of-20 shooting from the field overall (including a promising conversion of 2 of his 3-point attempts).
Mitchell also had 8 rebounds, 6 steals, and 2 blocks in his breakout game with the Sin City Celtics. Forward John Tonje put up another 17 points along with 5 rebounds, wing Hugo Gonzalez added 14 points, 4 boards, as many ******* ists, 3 steals and a block in the Boston win among notable starters.
Off the bench, guard Milos Uzan chipped in 13 points, 4 rebounds, and 6 ******* ists, and forward Tucker DeVries added another 11 points to secure the victory for the Summer Celtics.
After defeating the Summer Hornets, Boston imrpves to 2-0 in Las Vegas Summer League action to date.
The Sin City Celtics will next play the Summer Atlanta Hawks squad this coming Monday (July 13) evening at 6 pm ET on Amazon Prime Video.

For more than a decade, the Tampa Bay Buccaneers knew they could turn to one player whenever they needed a big play, a tough conversion, or a moment of reliability in the passing game.
That player was Mike Evans.
While Evans is no longer in Tampa Bay after leaving in free agency, Pro Football Focus recently highlighted him as one of the NFL's premier "safety blanket" receivers, a recognition that perfectly reflects what he meant to the Buccaneers throughout his historic career.
The label of a safety blanket goes beyond simply being a team's top receiver. It represents a player's quarterback's trust when things break down, when pressure arrives, or when they need someone to make a play in a difficult situation. Evans consistently provided that level of security for every quarterback he played with in Tampa Bay.
From Josh McCown and Jameis Winston to Tom Brady and Baker Mayfield, Evans remained one of the most dependable targets in the league. His combination of size, contested-catch ability, route running, and elite ball skills made him a quarterback's best friend when plays didn't go according to plan.

LAS VEGAS — Oh yes, the art of the buzzkill.
For a minute there, when the lights went down in Las Vegas, and the fascia ring lit up with the familiar Irish colors at the T-Mobile Arena, everyone stood on their feet to catch a glimpse of Conor McGregor making his way to the Octagon. You can say what you want about McGregor's many inconvenient truths, the hysteria of his fight nights is next to a religious experience in the game.
If there was a snake, it would've been passed around.
In a conversation with Marc Ratner, the UFC's Vice President of Regulatory Affairs, he mentioned being there for Sugar Ray Leonard and Thomas Hearns back in the 1980s when he headed up the Nevada Athletic Commission. He understood a big-fight feel, is what he was saying, looking around at the atmosphere Saturday at UFC 329.
One group of fans, while walking from New York, New York Hotel to the arena, were singing Bowie's "Five Years" because, well, that's how long it had been. Five years. A lot has happened. Lifetimes. Wars. Twitter's conversion into X. Everyone from Justin Jefferson to Tucker Carlson to Anthony Kiedis was there, along with the full galaxy of Vons, from Theo to Vince Vaughn to Erich von Stroheim — or at least that's who the UFC might've misidentified Justin Gaethje as when showing him on the celebrity cam.

Former Ireland scrum-half Conor Murray believes Ciaran Frawley will be frustrated after Saturday's 36-20 win over ***** an in the Nations Championship.
With Sam Prendergast rested following last week's win over Australia and Jack Crowley injured, Frawley was handed a first start in the fly-half jersey for Ireland.
On his 14th cap, the versatile Frawley - who has left Leinster for Connacht - struggled to dictate the game against a ***** an side that threatened to upset Ireland and missed a straightforward conversion attempt in the first half.
Head coach Andy Farrell had made nine changes from the narrow win over Australia, and the performance was littered with penalties as the Irish set-piece struggled to provide a platform in Newcastle.
Murray describes Frawley as "a brilliant player", but felt the 28-year-old struggled to impact the game as he might have hoped as Ireland's forward pack struggle at line-out and scrum.

Fermi America (NASDAQ:FRMI) shares dropped nearly 15% in premarket trading after the company announced the pricing of an enlarged $375 million offering of 5.00% convertible senior notes due in 2031.
The financing, priced late on July 9, triggered a sharp sell-off in after-hours trading that continued into Friday's premarket session.
The notes are being sold to qualified institutional buyers under Rule 144A and carry an initial conversion price of approximately $9.52 per share.
Initial purchasers also have the option to buy an additional $56.25 million of notes, increasing the potential size of the offering to $431.25 million. The possibility of additional share dilution weighed heavily on investor sentiment, particularly given the company's ongoing cash consumption.
The capital raise follows a difficult first quarter in which Fermi reported a net loss of roughly $189 million, largely driven by non-cash share-based compensation expenses. The company also generated no revenue during the period, falling short of ******* yst expectations and prompting several research firms to lower their ratings in recent months.

Delaying Social Security past full retirement age adds roughly 8% per year up to 70, making the claim timing an irreversible longevity bet.
Three recurring pitfalls each punish inattention with steep, often-delayed financial costs: missed RMDs, the tax torpedo on Social Security, and IRMAA surcharges above $109,000 income.
Spreading Roth conversions across multiple years lowers future RMDs and provisional income, protecting Social Security from taxation and Medicare premiums from IRMAA tier jumps.
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.
She is 68, single, manages her own brokerage and IRA accounts, and reads the fine print on her Medicare statements. She has watched friends drift into their mid-seventies with sharper opinions but slower instincts about money, and she does not want to make her biggest financial decisions on a day when she is tired or distracted. So she is using this year to lock in the choices that are hardest to reverse, while putting the rest on autopilot.

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.
Management attributed the 7% revenue growth in the first half to robust international performance and a strategic pivot toward volume growth in the U.S. food business.
The U.S. turnaround is being driven by two primary pillars: targeted affordability investments and the expansion of the 'permissible' and portion-control portfolio.
A significant slowdown in U.S. impulse channels, particularly convenience and gas, was linked to higher gasoline prices impacting consumer conversion rates.
International business has reached a scale of approximately $40 billion, providing critical diversification and margin accretion that offsets domestic volatility.

Artisan Partners, an investment management firm, issued its first-quarter 2026 investor letter for the "Artisan Mid Cap Value Fund". A copy of this letter is available for download here. In Q1 2026, the portfolio underperformed the benchmark Russell Midcap Value Index as the market favored momentum-driven stocks over quality factors. Some holdings faced company-specific setbacks and negative sentiment. The Fund's Investor Class: ARTQX returned -4.93%, Advisor Class: APDQX declined by -4.90%, and Institutional Class: APHQX fell by -4.97%, all trailing the Index's 3.68% gain. The equity market in the quarter was mixed, with mid- and small-cap indices showing resilience despite lagging large-cap growth stocks. Volatility increased, initially fueled by interest in AI and private credit, but escalated after the outbreak of war in Iran, leading to rising oil prices. Sector performance varied, with energy leading the gains. The Fund continues to seek companies capable of value growth during market dislocations at attractive entry points. Also, review the Fund's top five holdings to see its best picks for 2026.
In its first-quarter 2026 investor letter, Artisan Mid Cap Value Fund highlighted Brown & Brown, Inc. (NYSE:BRO) as a newly added position. Brown & Brown, Inc. (NYSE:BRO) is a leading insurance brokerage firm that operates through Retail and Specialty Distribution segments. On July 7, 2026, Brown & Brown, Inc. (NYSE:BRO) closed at $69.27 per share, reflecting a market capitalization of $23.48 billion. Brown & Brown, Inc. (NYSE:BRO) posted a one-month return of 15.10%, while its shares lost 35.94% over the past 52 weeks.
Artisan Mid Cap Value Fund stated the following regarding Brown & Brown, Inc. (NYSE:BRO) in its Q1 2026 investor letter:
"We initiated six new positions in Q1, representing an above-average rate of new purchase activity. Increased market volatility and greater dispersion in US equities during the quarter created more opportunities to add new names that meet our three margin-of-safety criteria: attractive business economics, sound financial condition and attractive valuation. Additionally, we sought to use recent volatility to upgrade the portfolio's quality. Our three largest new buys by position size were Brown & Brown, Inc. (NYSE:BRO), Veralto and IQVIA Holdings.
Brown & Brown is a leading US insurance broker focused on the middle market. The shares have come under pressure alongside the broader broker group, as investors recalibrated expectations following a period of elevated growth driven by a hard insurance market. As pricing and growth have begun to normalize, valuations have compressed, creating what we believe is a more attractive entry point. From a business economics perspective, insurance brokerage is a compelling model. Brokers act as intermediaries without taking underwriting risk, resulting in high margins, low capital intensity and strong free cash flow conversion, supported by high customer retention. Brown & B

Artisan Partners, an investment management firm, issued its first-quarter 2026 investor letter for the "Artisan Mid Cap Value Fund". A copy of this letter is available for download here. In Q1 2026, the portfolio underperformed the benchmark Russell Midcap Value Index as the market favored momentum-driven stocks over quality factors. Some holdings faced company-specific setbacks and negative sentiment. The Fund's Investor Class: ARTQX returned -4.93%, Advisor Class: APDQX declined by -4.90%, and Institutional Class: APHQX fell by -4.97%, all trailing the Index's 3.68% gain. The equity market in the quarter was mixed, with mid- and small-cap indices showing resilience despite lagging large-cap growth stocks. Volatility increased, initially fueled by interest in AI and private credit, but escalated after the outbreak of war in Iran, leading to rising oil prices. Sector performance varied, with energy leading the gains. The Fund continues to seek companies capable of value growth during market dislocations at attractive entry points. Also, review the Fund's top five holdings to see its best picks for 2026.
In its first-quarter 2026 investor letter, Artisan Mid Cap Value Fund highlighted NOV Inc. (NYSE:NOV) as one of its leading contributors. NOV Inc. (NYSE:NOV) is a leading provider of equipment, technology, and expertise to the oil and gas industry. On July 7, 2026, NOV Inc. (NYSE:NOV) closed at $18.28 per share. One-month return of NOV Inc. (NYSE:NOV) was -13.28%, and its shares gained 36.21% over the past 52 weeks. NOV Inc. (NYSE:NOV) has a market capitalization of $6.56 billion.
Artisan Mid Cap Value Fund stated the following regarding NOV Inc. (NYSE:NOV) in its Q1 2026 investor letter:
"Our energy holdings were well represented among our top contributors, benefiting from higher energy prices. Permian Resources (PR), an independent oil and gas company, and NOV, the largest manufacturer of oilfield equipment, led the way. NOV Inc. (NYSE:NOV) ended 2025 on a solid note, with Q4 revenue up nearly 5% sequentially and earnings beating expectations, helped by strong execution, backlog conversion and market share gains even as broader global activity remained soft. NOV's energy equipment segment has been a bright spot, benefiting from stronger offshore demand and a growing backlog that supports future activity. Cash flow generation has remained solid, allowing NOV to continue returning capital to shareholders. The Middle East conflict is creating near term headwinds for NOV through logistical and supply-chain disruptions, weaker aftermarket demand and softer customer ordering activity across the region. Thankfully, the company has reported no personnel injuries or facility damage, and its Saudi rig-building and composite pipe facilities remain operational. The disruption is likely to impact near-term results, but the longer term outlook remains intact, in our view, supported by NOV's diversified global footprint and a still-constructive offshore bac

Vishay Intertechnology Inc. (NYSE:VSH) is one of the 10 Stocks Investors Are Running Away From.
Vishay Intertechnology fell by 8.62 percent on Tuesday to end at $42.19 apiece, as investors unloaded positions amid the share dilution potential of its convertible senior notes due 2030.
On Sunday, July 5, holders of Vishay Intertechnology Inc.'s (NYSE:VSH) 2.25 percent convertible senior notes due 2030 have been allowed to convert their holdings into cash or shares, or both, until October 3, 2026.
Photo by Tima Miroshnichenko on Pexels
The notes became convertible after its share price jumped by more than 130 percent of the conversion price, or the required threshold on at least 20 trading days within a 30-day trading period.

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter.
Easthampton, Massachusetts-based Hometown Financial Group, the holding company for bankESB, bankHometown and TruNorth Bank, has entered into a merger agreement to acquire Bedford, New Hampshire-based Primary Bank for $160 million, the banks said Monday.
The acquisition is set to add four branches to Hometown's 55-branch footprint and $743 million in ******* ets to Hometown's $6.9 billion, according to a news release. "This is a low-margin business that requires scale," Matt Sosik, Hometown's CEO and chairman, said in an interview. In the "densely populated banking world up here in New England, M&A has to necessarily play a part in achieving that scale."
Hometown's board also adopted a plan to convert its mutual holding company structure to a stock holding company structure. The mutual-to-stock conversion and acquisition are both expected to be completed in the first quarter of 2027.
The Primary acquisition is the ninth merger in the past decade for Hometown, with its most recent purchase being CFSB Bancorp last November, according to an investor presentation.

M-DAQ Global, a fintech group specialising in foreign exchange (FX) and payment solutions, has signed agreements for a strategic integration with METech as it expands into Vietnam.
In a statement, M-DAQ Global said the move marks a "major step" in its plan to build a unified ASEAN Payments Hub that combines collections, FX conversion and payouts across multiple markets.
The integration will provide the Singapore-headquartered fintech with regulated payments infrastructure in Vietnam. This will enable the firm to process domestic collections and payments in Vietnamese Dong (VND).
Direct access to VND collection and payout rails will reduce its reliance on third-party providers, it added.
M-DAQ Global said the METech integration follows previous regional developments involving EasyPay in Malaysia and Wallex in Indonesia.

Artisan Partners, an investment management firm, issued its first-quarter 2026 investor letter for the "Artisan Mid Cap Value Fund". A copy of this letter is available for download here. In Q1 2026, the portfolio underperformed the benchmark Russell Midcap Value Index as the market favored momentum-driven stocks over quality factors. Some holdings faced company-specific setbacks and negative sentiment. The Fund's Investor Class: ARTQX returned -4.93%, Advisor Class: APDQX declined by -4.90%, and Institutional Class: APHQX fell by -4.97%, all trailing the Index's 3.68% gain. The equity market in the quarter was mixed, with mid- and small-cap indices showing resilience despite lagging large-cap growth stocks. Volatility increased, initially fueled by interest in AI and private credit, but escalated after the outbreak of war in Iran, leading to rising oil prices. Sector performance varied, with energy leading the gains. The Fund continues to seek companies capable of value growth during market dislocations at attractive entry points. Also, review the Fund's top five holdings to see its best picks for 2026.
In its first-quarter 2026 investor letter, Artisan Mid Cap Value Fund highlighted Brown & Brown, Inc. (NYSE:BRO) as a newly added position. Brown & Brown, Inc. (NYSE:BRO) is a leading insurance brokerage firm that operates through Retail and Specialty Distribution segments. On July 7, 2026, Brown & Brown, Inc. (NYSE:BRO) closed at $69.27 per share, reflecting a market capitalization of $23.48 billion. Brown & Brown, Inc. (NYSE:BRO) posted a one-month return of 15.10%, while its shares lost 35.94% over the past 52 weeks.
Artisan Mid Cap Value Fund stated the following regarding Brown & Brown, Inc. (NYSE:BRO) in its Q1 2026 investor letter:
"We initiated six new positions in Q1, representing an above-average rate of new purchase activity. Increased market volatility and greater dispersion in US equities during the quarter created more opportunities to add new names that meet our three margin-of-safety criteria: attractive business economics, sound financial condition and attractive valuation. Additionally, we sought to use recent volatility to upgrade the portfolio's quality. Our three largest new buys by position size were Brown & Brown, Inc. (NYSE:BRO), Veralto and IQVIA Holdings.
Brown & Brown is a leading US insurance broker focused on the middle market. The shares have come under pressure alongside the broader broker group, as investors recalibrated expectations following a period of elevated growth driven by a hard insurance market. As pricing and growth have begun to normalize, valuations have compressed, creating what we believe is a more attractive entry point. From a business economics perspective, insurance brokerage is a compelling model. Brokers act as intermediaries without taking underwriting risk, resulting in high margins, low capital intensity and strong free cash flow conversion, supported by high customer retention. Brown & B

While any business outside the organization is still up in the air, the Vegas Golden Knights have succeeded in getting all of their internal affairs in order.
On Monday, Golden Knights general manager Kelly McCrimmon confirmed that the team has agreed to terms with defenseman Lukas Cormier to a one-year contract.
The extension guarantees that the Golden Knights still have their restricted free agents under contract, also retaining the signing rights of forward Jakub Brabenec, who has signed to play with his hometown club of Brno in Czechia.
Cormier has spent the majority of his tenure with the Golden Knights organization with their AHL affiliate Henderson Silver Knights. Despite dealing with injuries, Cormier put together an impressive season with 47 points (eight goals, 39 ****** ists) in 49 games. The offensive instincts also lead to the defenseman often serving as quarterback on the Henderson power play, which finished at an AHL-high 26 percent conversion rate.
Cormier has also appeared in two games with the Golden Knights, recording his first career NHL point against the New York Islanders in his debut on Jan. 4, 2024.

Should Scotland leave star man Finn Russell on the bench for next week's visit to South Africa?
That's what former international Peter Wright is suggesting after Gregor Townsend's side won a thrilling Nations Championship opener away to Argentina without the influential fly-half.
With Russell nursing a calf problem, Tom Jordan started at 10 in Cordoba and turned in an impressive performance, as did his replacement, Fergus Burke.
Both men kicked three conversions in the 47-38 victory and both pulled the strings effectively in a largely controlled display, skewed by two late scores for the hosts.
"Tom Jordan did really well in terms of his calmness," former Scotland captain Lisa Martin told BBC Radio Scotland. "It was a really mature performance.

SYDNEY (AP) — Flyhalf Sam Prendergast kicked a conversion with three minutes left, after replacement forward Thomas Clarkson scored a try, to give Ireland a 33-31 victory Saturday over Australia in their Nations Championship opener.
At a sold-out Sydney Football Stadium, the Wallabies led 24-19 at halftime after early tries by Dylan Pietsch and Jock Campbell. But the Irish stayed in touch through touchdowns from Cian Prendergast and Josh van der Flier, with Jamison Gibson-Park scoring a try on halftime to keep them in the match.
After the lead had changed seven times in the 10-try match, Ben Donaldson had the chance to give Australia the winning points, but he pushed a penalty attempt wide from more than 40 meters in the final seconds.
The match marked the start of the end of Joe Schmidt's coaching era at the Wallabies and close to the beginning of the Les Kiss era. Under Schmidt, Australia was winless in its tour to Britain late last year and was on a four-match losing streak.
Schmidt will stay on for two further Nations Championship tests against France in Brisbane next Saturday and vs. Italy in Perth on July 18. Kiss will officially take over on July 20 and is currently concluding his duties with the Queensland Reds Super Rugby side.