The Grayscale XRP Trust ETF has sold XRP worth more than $180 million during the first half of 2026, the latest filing with the U.S. Securities and Exchange Commission (SEC) revealed.
The fund held 122.23 million XRP by the end of 2025 but lowered the holdings to 55.04 million XRP as of June 30, 2026.
The trust cashed out $180.78 million worth of XRP, selling 103.41 million tokens to redeem investor ****** ets.
Related: XRP holders can now borrow Ripple's stablecoin
The trust created an additional 36.27 million in XRP worth $66.58 million during the last six months. But the outflows exceeded the inflows.

#commission

Applied Digital Corp (NASDAQ:APLD)'s transformation from a crypto-mining/data-center hosting company to an AI infrastructure provider is beginning to reflect in its earnings. The company is enjoying robust growth fueled by rapid conversion of its data center footprint into artificial intelligence and high-performance computing infrastructure. Likewise, hyperscaler leases and tenant buildout are increasingly driving near-term revenue growth.
Shares have gained more than 20% year to date, with the stock remaining volatile and below some of its recent highs. The market is particularly focused on the company's execution, financing, profitability, and timing of future cash flows. Sentiment and outlook for the stock are slowly changing, triggering prospects of a potential breakout after months of underperformance.
Robust revenue growth affirms why Applied Digital Corp (NASDAQ:APLD) is a compelling investment play on improving underlying fundamentals. The company delivered fiscal fourth quarter 2026 revenue of $258.7 million, up 407% year over year and topping estimates of $94.8 million. Similarly, full-year revenue was up 167% to $611.3 million. Adjusted earnings per share came in at $0.04 above expectations of a $0.22 loss.
The 407% revenue growth suggests the company is no longer a future AI story but a company that's converting data center capacity into sales. The growth has come as the company shifts toward building large, power-dense data centers that it leases to hyperscalers and AI cloud companies, thereby securing key revenue streams.
The Data Center Hosting segment generated $38 million in revenue in Q4 FY2025. Revenue in the segment increased to $203 million as of Q4 FY2026, suggesting new leases are becoming bigger than Traditional Data Center Hosting, which was essentially flat at $37.3 million.

#Growth

A U.S. exchange-traded fund (ETF) that tracks the spot price of Bitcoin (CRYPTO: $BTC) is closing as inflows slow to a trickle.
Cryptocurrency ******* et manager Hashdex said that it is closing and liquidating its $14.7 million U.S. spot Bitcoin ETF.
It is the first U.S. spot Bitcoin ETF to shutdown since a dozen such funds sprang up in early 2024 after Wall Street regulators approved the tracking of BTC's price movements.
More From Cryptoprowl:
Ramp Network Brings Multichain Wallet and Rewards to EU

#Bitcoin #spot

Mercury Systems (MRCY) has partnered with Palantir Technologies (PLTR) to automate factory operations and material planning, aiming to accelerate delivery of critical defense technology for U.S. military programs. The collaboration supports the Department of Defense's push to boost throughput and shorten delivery timelines for essential components across the defense industrial base.
Through two initial workflows, Mercury will streamline material planning and reduce manual workloads, strengthening its ability to scale production without extending delivery times or driving up costs. By integrating its data sources onto Palantir's Foundry platform, Mercury aims to speed up design and delivery processes to meet growing customer demand.
General Motors vs. Ford: 1 Auto Giant Is Winning the EV Race
1 **** anese Company Just Waved a Red Flag for Micron Stock. How to Play It Here.
Billionaire Ken Griffin Just Saved Situational Awareness, But Here's What a Rescue Call From Citadel Really Sounds Like — 'I… Heard the Grim Reaper's Scythe'

#mercury #defense #palantir

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.
Achieved non-GAAP operating profitability for the first time in nearly three years, driven by a 20% year-over-year revenue increase and six consecutive quarters of gross margin expansion.
Attributed U.S. residential market softness to a slower tax equity funding environment and uncertainty regarding FEOC definitions, which has constrained installer cash flows and distributor inventory levels.
Expanded U.S. C&I market share to over 50% of rooftop installations, benefiting from being the only major inverter vendor delivering U.S.-manufactured products that meet domestic content and FCC requirements.
Doubled European revenue year-over-year as demand surged ahead of anticipated electricity price hikes and the phase-out of net metering in major markets.

#NVIDIA

The European banking sector is facing a re-rating this year, led by a "higher for longer" interest rate environment that continues to enhance net interest margins across core lending books. The doubling of the EURO STOXX Banks Index in the last two years represents a substantial adjustment in investor opinion, turning European financials from a chronically punished sector into a core part of macro risk appetite. Europe's flagship institutions, UBS Group AG (NYSE:UBS) and Deutsche Bank Aktiengesellschaft (NYSE:DB), are providing profitability on par with top-tier Wall Street investment banks, thanks to rising trading volatility, active customer engagement and wider deposit spreads.
Deutsche Bank Aktiengesellschaft (NYSE:DB) reported a record post-tax profit of €1.9 billion in the second quarter of 2026, while overall net revenues increased 9% year-over-year to €8.5 billion, boosting pre-tax profit by 11% to €2.7 billion. The lender's performance was driven by its reinvigorated Investment Bank, which saw pre-tax profit rise 59% year-over-year to €1.3 billion. Operating performance was especially strong in fixed income, rates, and credit trading, where Deutsche Bank outperformed several key US competitors.
Additionally, Deutsche Bank Aktiengesellschaft (NYSE:DB) is proving that its multiyear operational change is gaining traction ahead of its long-term corporate goals. Management intends to achieve a 60% cost-income ratio and a 13% return on tangible equity (ROTE) by 2028. In the initial half of 2026, the bank reached a 60.9% cost-income ratio and an 11.9% ROTE, indicating that its cost-discipline framework and revenue trends are ahead of projections.
UBS Group AG (NYSE:UBS) matched its German counterpart by reporting extraordinary second-quarter results, including a pre-tax profit of $3.6 billion and an underlying pre-tax profit of $3.9 billion, a 47% increase year-over-year. While CEO Sergio Ermotti described the Investment Bank's performance as exceptional, he cautioned that rising macroeconomic threats might quickly shift market sentiment.
The wealth management division added $36 billion in net new ****** ets during the quarter. Notably, the company produced positive net inflows in the Americas while absorbing around $10 billion in seasonal US tax-related ****** et outflows. Moreover, UBS's "one bank" cross-divisional strategy in Asia-Pacific generated almost one-third of the group's pre-tax profit while capturing significant wealth inflows. Adding to bottom-line execution, UBS Group AG (NYSE:UBS) realized an additional $1.1 billion in run-rate cost savings during Q2 from its continued integration of Credit Suisse, bringing total gross cost reductions to $12.6 billion as the merger nears completion.

#billion

Investors added $191.3 billion to US-listed ETFs in July, pushing year-to-date inflows toward $1.3 trillion.
The AI trade stayed volatile through the month, but the broader stock market held near all-time highs. Bonds went the other way, with the 30-year Treasury yield climbing to a 19-year high.
By category, US equity ETFs led the way with $75 billion of inflows. International equity ETFs followed with almost $46 billion, then US fixed income with more than $39 billion. Leveraged ETFs took in $10.5 billion, and alternatives gathered $6.3 billion.
At the individual fund level, the usual broad-market suspects sat at the top. The Vanguard S&P 500 ETF (VOO) picked up nearly $20 billion, followed by the SPDR S&P 500 ETF Trust (SPY) with $14 billion and the SPDR Portfolio S&P 500 ETF (SPYM) with more than $8 billion.
Outside of the big broad-market US funds, AI-fueled ETFs dominated. The iShares Semiconductor ETF (SOXX) picked up $6.9 billion, the Direxion Daily Semiconductor Bull 3X Shares (SOXL) added $6.9 billion, the Roundhill Memory ETF (DRAM) took in $6.2 billion, the iShares MSCI South Korea ETF (EWY) gathered $4.8 billion, and the VanEck Semiconductor ETF (SMH) brought in $4.5 billion.

#semiconductor #market #spdr #inflows

Wang says CRM and NOW are down 27 to 41% YTD yet post 12 to 25% growth with rising free cash flows, flagging them as undervalued AI plays.
Wang singles out GOOGL and MSFT as best positioned, owning both cloud infrastructure and frontier AI models for dual-layer economics.
Act now: the ******* yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Microsoft didn't make the cut. Grab the names FREE today.
Constellation Research Chairman Ray ******* went on CNBC Monday morning to argue that the AI capital cycle has split the megacaps into two camps: hyperscalers with a clear line of sight to AI monetization, and enterprise software names that have been sold off despite growing cash flows.
Both could be good investments today.

#free #names #googl #Microsoft

(Table below reflects daily flows on July 31, 2026 and ***** et totals as of that date.)
ETF Brand League Table
Welcome to the etf.com league table. On this page, you'll find the U.S. ETF market through different lenses: brand and issuer. What's the difference? The brand is what the ETF says on the tin. For example, "iShares" is the brand of issuer "BlackRock's" ETFs. Because many issuers license their ETF infrastructure to third parties, we present the data in both ways. The identification of the correct brand and legal issuer is done by our key data provider, FactSet.
Brand
AUM ($, mm)

#league #welcome #factset #below

Roger Altman of Evercore (EVR) argues the S&P 500, up 10% year to date and 18% over 12 months, is shrugging off every macro headwind.
Goldman Sachs (GS) flags hyperscaler capex has consumed roughly 95% of operating cash flows, with projected AI spending reaching $2.1 trillion through 2027.
Record corporate profits of $4,427 billion in Q1 2026, up 13% year over year, powered 86% of S&P 500 companies to beat consensus estimates.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Evercore didn't make the cut. Grab the names FREE today.
Roger Altman, founder and senior chairman of Evercore (NYSE:EVR), made an appearance on CNBC on August 3 to argue that the stock market is absorbing every macro punch thrown at it.

#altman #every #Macro #sachs

Top 10 Creations (All ETFs)
Ticker
Name
Net Flows ($, mm)
AUM ($, mm)

#ticker #name #flows

Ticker
Name
Net Flows ($, mm)
AUM ($, mm)
AUM % Change<

#name

Should you prioritize a global travel ****** an or a fast-growing restaurant disruptor? Deciding between Booking (NASDAQ:BKNG) and CAVA Group (NYSE:CAVA) requires weighing mature cash flows against aggressive retail expansion.
Booking is a leader in the digital travel ****** e, providing a massive platform for hotels and flights. CAVA is a rising star in the fast-casual dining world, often compared to early-stage winners in the restaurant industry. Both companies are vying for consumer dollars, but they offer very different risk-and-reward profiles for investors today.
Booking operates a massive network of travel brands, including its namesake site, Priceline, and Agoda. The company connects travelers to roughly 4.5 million properties across more than 220 countries and territories. A key recent strategy involves a partnership with The Trade Desk to monetize its deep pool of traveler data through targeted advertising.
Financial performance remains robust in the travel and tourism stocks sector. In 2025, revenue reached nearly $26.9 billion, representing a 13.4% increase over the previous year. The company reported net income of nearly $5.4 billion, resulting in a healthy net margin of approximately 20%.
As of its December 2025 balance sheet, the debt-to-equity ratio is roughly -3.5x, which means total liabilities exceed total ****** ets. The current ratio, which measures the ability to pay short-term debts with current ****** ets, is approximately 1.3x. Free cash flow, or the cash left after capital expenditures, was approximately $9.1 billion in 2025.

#billion #approximately

Investors in 2026 face a clear choice between a speculative hydrogen pioneer and a profitable oil giant. Plug Power (NASDAQ:PLUG) and Occidental Petroleum (NYSE:OXY) represent two very different paths in the evolving energy landscape.
Plug Power focuses on the future of green hydrogen and fuel-cell technology, while Occidental Petroleum produces traditional energy while investing in carbon capture. They are compared because they offer different ways to play the energy transition.
Plug Power builds green hydrogen and fuel-cell solutions for global industrial applications. The company focuses on large-scale logistics, providing fuel to the material handling and e-mobility sectors. Walmart is a major customer, representing roughly 24.2% of consolidated revenues as of late 2025, adding a layer of risk to the business.
In FY 2025, revenue reached nearly $709.9 million, reflecting a growth rate of approximately 12.9% over the previous year. Despite this growth, the company reported a net loss of approximately $1.6 billion for the same period. This resulted in a net margin of -229.8%, highlighting the significant costs involved in scaling hydrogen production.
As of its December 2025 balance sheet, the debt-to-equity ratio was 1.0x. This metric, which measures a company's total debt against its shareholder equity, sits at 1.0x, while a current ratio of 2.3x indicates the company has enough short-term **** ets to cover immediate liabilities. However, free cash flow was negative $661.5 million in FY 2025, meaning cash outflows exceeded inflows from operations and capital investments.

#power #fuel

Coinbase (NASDAQ: COIN) CEO Brian Armstrong recently claimed that the rise of artificial intelligence (AI) agents would boost cryptocurrency adoption. In a post on X, Armstrong said AI agents will need their own financial infrastructure and will eventually transact far more per day than all humans combined." Since AI agents can't open bank accounts or wait for wire transfers, Armstrong believes they will need to use cryptocurrencies as 'real-time programmable money'.
It might seem odd to think that AI agents will need their own money, but it actually makes sense if we expect those agents to work autonomously. Let's see how that could happen, and what that shift might mean for cryptocurrency investors over the long term.
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 »
Coinbase's own Base network already supports the development of AI agents. Armstrong believes those agents will eventually "need to hold funds and pay for things on their own" and "raise or borrow money for new projects they are undertaking." By doing so, they can serve as financial advisors and automate tax planning, portfolio rebalancing, and bill-paying tasks. They can also pay for other on-demand cloud and AI services to complete their own workflows.
Therefore, AI agents could operate independently and pay one another using cryptocurrencies rather than going through conventional banks. If that happens, cryptocurrencies would become a foundational layer of the agentic AI market.

#armstrong #flashing #financial

The S&P 500 index (SNPINDEX: ^GSPC) has a miserly yield of roughly 1%. That fact highlights just how difficult it is to find attractive dividend stocks in 2026. But if you are an income investor, you can still find yield; you just have to do a little digging. However, don't just examine dividend yield. Pay close attention to the sustainability of the dividend, too.
Enterprise Products Partners (NYSE: EPD), for example, has a lofty 5.6% yield and a distribution growth streak of 27 years. Realty Income's (NYSE: O) yield is 4.9%, and its dividend has increased for 31 years. Here's a look at each of these attractive passive income stocks.
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 »
Enterprise's lofty distribution yield is notable given that it operates in the energy sector, an industry known for volatility. But it operates in the midstream segment, which is actually very stable. Essentially, Enterprise owns energy infrastructure ******* ets that transport oil and natural gas worldwide. It charges fees for the use of its ******* ets, so commodity prices aren't that impactful on its cash flows. That is how it has managed to achieve such an impressive streak of distribution growth.
The downside is that the lofty 5.6% yield will likely account for the lion's share of an investor's return over time. The pipelines and storage ******* ets that Enterprise owns are large, time-consuming, and expensive to build. Slow and steady growth is the norm. That said, this particular midstream business also emphasizes fiscal conservatism. It has an investment-grade-rated balance sheet, and its distributable cash flow covers the distribution by a very solid 1.7x.

#distribution #years #time

Investment management company Vulcan Value Partners recently released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. Vulcan Value Partners prioritizes long-term returns and lower risk over short-term performance. In the quarter, the Large Cap Composite (Net) returned 9.5%, the Small Cap Composite (Net) returned 13.3%, the Focus Composite (Net) returned 10.4%, the Focus Plus Composite (Net) returned 10.5%, and the All-Cap Composite (Net) returned 9.0%. The firm reported strong compounding across its strategies in Q2 2026. Management highlighted that their exceptional holdings remain deeply undervalued relative to "what is working" in the market, viewing this as an excellent opportunity for patient investors. In addition, please check the Firm's top five holdings to know its best picks in 2026.
Vulcan Value Partners' Q2 2026 investor letter highlighted ServiceNow, Inc. (NYSE:NOW), noting its inclusion in the firm's All-Cap strategy this quarter. ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On July 29, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $115.76 per share, reflecting a market capitalization of $119.7 billion. ServiceNow, Inc. (NYSE:NOW) posted a one-month return of 4.56%, while its shares lost 44.33% over the past 52 weeks.
Vulcan Value Partners stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q2 2026 investor update:
"We purchased three new positions during the quarter: Veeva Systems Inc., Equifax Inc., and ServiceNow, Inc. (NYSE:NOW). We believe that ServiceNow is also one of the best businesses in the world. ServiceNow automates workflows in large and complex enterprises. Their platform sits on top of all of an enterprise's data and systems of record. This very unique and enviable position allows ServiceNow to orchestrate and automate work across departments, enterprise wide. To use an **** ogy, if a large enterprise is an airport, and its multiple software applications are planes, ServiceNow is the control tower coordinating all of these planes/applications.
The company has grown from its roots in IT and now has very large businesses in sales and service, HR, finance, supply chain, operations, and security, as well as in industry specific verticals like Financial Services, Healthcare, and Government. ServiceNow grew revenue 21%, adjusted EBIT 28%, and free cash flow per share 33% in 2025. This growth at scale puts ServiceNow in elite company. Despite the strong performance, the stock is down approximately 40% year to date and 60% since the beginning of 2025. The company has been on our MVP list for over 5 years and has compounded its value at an incredible rate over that period. It has never been materially discounted until recently…." (Click here to read the full text)

#servicenow #composite #company #returned

Synopsys (SNPS) stock jumped more than 4% on Monday after the company unveiled autonomous AI workflows for chip design at the 2026 DAC Chips to Systems Conference.
The new technology, developed in collaboration with Microsoft (MSFT) and already being evaluated by AMD (AMD), marks another step toward automating complex semiconductor engineering tasks with AI agents. The announcement reinforces Synopsys' leadership in electronic design automation (EDA) software at a time when demand for AI chips continues to accelerate.
Dear Sandisk Stock Fans, Mark Your Calendars for August 5
Intel Stock Sinks 40%, But Most ****** ysts Still Aren't Bullish on INTC
Ahead of Microsoft Earnings, Here's What Barchart Data Says Comes Next for MSFT Stock

#msft #conference

Wabtec provides locomotives, equipment, systems, and services for the freight rail and passenger transit industries, including locomotives powered by different fuels, engines, electric motors, propulsion systems, marine products, and mining products to customers around the world. WAB's second-quarter fiscal 2026 report showed $3.2 billion in revenue (a 17.5% year-over-year gain), adjusted per-share earnings of $2.76 (up 21.6%), and increased 2026 revenue and EPS guidance to $12.5 billion and $10.90, respectively.
It's no wonder WAB shares are up 43% this year – and they could rise more. MoneyFlows data shows how Big Money investors are betting heavily on the forward picture of the stock.
Institutional volumes reveal plenty. In the last year, WAB has enjoyed strong investor demand, which we believe to be institutional support.
Each green bar signals unusually large volumes in WAB shares. They reflect our proprietary inflow signal, pushing the stock higher:
Plenty of industrials names are under accumulation right now. But there's a powerful fundamental story happening with Wabtec.

#locomotives

FFIV delivers cloud computing solutions, including automation, security, networking, and management services, for businesses, service providers, and governments. In its third-quarter fiscal 2026 earnings report, F5 showed $865 million in revenue (an 11% year-over-year gain), non-GAAP net income of $4.73 (a 14% gain), and offered growth and EPS guidance of up to 10% and $17.33, respectively.
It's no wonder FFIV shares are up 58% so far this year – and they could rise more. MoneyFlows data shows how Big Money investors are again betting heavily on the stock.
Institutional volumes reveal plenty. In the last year, FFIV has enjoyed strong investor demand, which we believe to be institutional support.
Each green bar signals unusually large volumes in FFIV shares. They reflect our proprietary inflow signal, pushing the stock higher:
Plenty of technology names are under accumulation right now. But there's a powerful fundamental story happening with F5.

#year #shares #Stock #moneyflows

Commodity producing and trading giant Glencore expects to post a profit of $3.3 billion in its marketing division for the first half of the year, as extreme market volatility during the Iran war generated windfall earnings for the energy commodity traders.
Glencore expects to report next week a strong half-year marketing adjusted earnings before interest and tax (EBIT) of about $3.3 billion in its Marketing segment, which includes oil trading, the company said on Wednesday in its half-year production report.
The trading giant didn't specify how much energy trading contributed to the profit, but it's expected to do so in the detailed half-year earnings due out next week.
At any rate, the market volatility of the past five months is putting Glencore's trading profit on track for its best year ever if energy markets continue to whipsaw in the coming months.
Glencore book its highest ever full-year EBIT in marketing for 2022, the year in which the Russian invasion of Ukraine upended energy flows and markets and sent oil prices soaring to $120 per barrel.

#trading #profit #earnings #commodity

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.
Turns out swallowing a collapsing rival can actually work out. UBS just posted its cleanest quarter yet since absorbing Credit Suisse, so now the only thing standing between the bank and full bragging rights is literally Switzerland.
UBS reported second-quarter net profit of $2.8 billion, comfortably ahead of the roughly $2.39 billion **** ysts expected. Underlying pretax profit jumped 70% to $3.89 billion, revenue rose 13% year over year to $13.7 billion.
Wealth management and investment banking did the heavy lifting. Global wealth management pulled in $36 billion of net new **** ets, with Switzerland itself contributing strong inflows. The investment bank rode buoyant markets and active trading to a 26% revenue jump.
UBS also announced a new $3 billion buyback, to wrap by mid-2027, with at least $1 billion of that repurchased in just the next three months. Credit Suisse integration is on track to be substantially done by the end of 2026, with another $1.1 billion in cost savings this quarter alone, pushing **** ulative savings to $12.6 billion. Shares rose on the news.

#quarter #wealth

(Table below reflects daily flows on July 27, 2026 and ***** et totals as of that date.)
ETF Brand League Table
Welcome to the etf.com league table. On this page, you'll find the U.S. ETF market through different lenses: brand and issuer. What's the difference? The brand is what the ETF says on the tin. For example, "iShares" is the brand of issuer "BlackRock's" ETFs. Because many issuers license their ETF infrastructure to third parties, we present the data in both ways. The identification of the correct brand and legal issuer is done by our key data provider, FactSet.
Brand
AUM ($, mm)

#issuer

Top 10 Creations (All ETFs)
Ticker
Name
Net Flows ($, mm)
AUM ($, mm)

#flows

Oil prices have just come off a fresh two-month high as the crude oil market has tumbled this week amid signals of de-escalation in the U.S.-Iran conflict.
Despite the slump in crude prices and the extreme volatility in the past five months, the refined product market continues to tighten with refining margins at record highs because the supply of petroleum products is much tighter than crude supply.
Refining margins held at record highs even as crude oil prices soared last week to $100 per barrel. That's because global gasoline, diesel, and jet fuel supply is tightening and has been tightening for months amid a combination of factors, most stemming from the wars in Iran and Ukraine.
While crude oil futures largely reflect market hopes and fears for prices ahead, the gasoline and diesel refining margins, supply, and prices reflect the real-time situation with refinery throughput, global fuel flows, and availability in various markets.
Record High Refining Margins

#crude #margins #record #Iran

The attraction to make short-term market bets is real. When you think what everyone knows is wrong, it's tempting to place a bet. And while Kalshi and Polymarket may be better venues for "someone is wrong on the internet" proof-trading, ETFs offer clean, efficient ways to lose your money too.
Or maybe -- maybe -- make some.
On a recent episode of ETF Zoo, Bloomberg's Eric Balchunas made the point that some speculators lately had been getting these market-timing calls right. He later ran the numbers on ProShares UltraPro QQQ, the 3x leveraged Nasdaq-100 ETF.
This toe-dip into matching flows with performance got me thinking about "the other big trade" of the last year or so that's not AI: Energy. That's where all the headlines about insider trading have been, so taking the cue from Eric, I had to figure out: have ETF investors been playing the energy trade this well?
Betting on energy is the least secret, least insider trade in the world right now—unless you have access to the Oval, like some traders apparently do. There should be no edge in it. Short-term trading here is simply a bet that you know something the most important commodity market in the world doesn't know (or, you have better hunch.) Historically, this is a bad idea. That was my prior: disaster.

#market #short #make

Night View Capital, an investment management firm, released its second-quarter 2026 investor letter. The letter highlights that AI is a transformative force, comparable to electricity due to its industry-wide impact. A copy of the letter can be downloaded here. Although fears about the software sector have led to significant declines in stock prices, the letter argues that AI integration will ultimately benefit many companies. They recognize that some software firms may experience temporary slowdowns, but most will adapt and succeed by embracing AI, citing advantages like systems of record, high switching costs, entrenched distribution, and rapid AI adoption. The sharp decline in software valuations appears to be an overreaction rather than a sign of industry failure. Nightview believes the so-called "software panic of 2026" is temporary, and resilient businesses will adapt and flourish in the age of AI. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Night View Capital highlighted ServiceNow, Inc. (NYSE:NOW). ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On July 27, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $107.78 per share, reflecting a market capitalization of $111.15 billion. ServiceNow, Inc. (NYSE:NOW) posted a one-month return of 4.56%, while its shares lost 44.33% over the past 52 weeks.
Night View Capital stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q2 2026 investor update:
"ServiceNow, Inc. (NYSE:NOW) runs the digital plumbing of the enterprise: the workflows that move a request from "someone asked" to "someone did it." Automation is not a threat to that kind of business. The more work an organization wants to hand to software agents, the more it needs a trusted place to route, track, and govern what those agents do. We added here as well during the quarter."
ServiceNow, Inc. (NYSE:NOW) ranks 25 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 108 hedge fund portfolios held ServiceNow, Inc. (NYSE:NOW) at the end of the first quarter, compared to 118 in the previous quarter. In the first quarter of 2026, ServiceNow, Inc.'s (NYSE:NOW) subscription revenues increased 19% year-over-year (in constant currency) to $3.67 billion. While we acknowledge the risk and potential of ServiceNow, Inc. (NYSE:NOW) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ServiceNow, Inc. (NYSE:NOW) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

#servicenow #software #quarter

July 28 (Reuters) - Apple's market capitalization briefly surpassed $5 trillion for the first time on Tuesday, making it only the second company ever to achieve that milestone ‌after Nvidia.
Its shares were last up 0.72% at $339.33, giving it a market capitalization ‌of $4.98 trillion. At a session high of $342.89, Apple's market value stood at $5.036 trillion.
Apple became the most valuable company in the world earlier this month, overtaking chipmaker Nvidia - which had been at the top since June 2025 and was the first company ever to breach the $5 trillion threshold.
Nvidia's shares were last up 0.53% at $197.63, valuing it at $4.78 trillion.
Apple has benefited from strong demand for its products as well ‌as its decision to skip the ⁠ongoing AI spending race among Big Tech rivals that is sapping their cash flows and saddling them with humongous debt.

#company

The EMA GARP Fund, managed by Equity Management ****** ociates, recently released its second-quarter investor letter for 2026. The letter can be downloaded here. The letter emphasizes that capital expenditures in artificial intelligence (AI) are driving growth and earnings, despite extreme valuations in the U.S. market, which resemble a bubble-like situation. It also discusses the impact of passive ETF flows, fiscal deficits, and inflationary policies. For the quarter, the Fund's value decreased by 20.00%, and it is down 21.96% for the first half of the year, even though AI and related growth stocks were prominent during Q2. Additionally, the firm identified precious metals miners as a potentially strong investment, noting that they are significantly undervalued and present substantial asymmetrical opportunities. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, the EMA GARP Fund highlighted Aris Mining Corporation (NYSE:ARIS). Aris Mining Corporation (NYSE:ARIS) is a Canadian gold miner that engages in the acquisition, exploration, development, and operation of gold properties. On July 27, 2026, Aris Mining Corporation (NYSE:ARIS) closed at $14.86 per share, reflecting a market capitalization of $3.06 billion. Aris Mining Corporation (NYSE:ARIS) posted a one-month return of -0.34%, while its shares gained 106.68% over the past 52 weeks.
The EMA GARP Fund stated the following regarding Aris Mining Corporation (NYSE:ARIS) in its Q2 2026 investor update:
"The miners are way, way too cheap at present gold and silver prices. And their earnings outlook is robust at higher bullion prices given the substantial operating leverage. Miner industry profitability is as good as it's been at any point in the last 25 years. Two Miner Case Studies are outlined – Aris Mining Corporation (NYSE:ARIS) and Avino. Crazy cheap and massive asymmetry.
Aris is an emerging mid-tier producer with two operating mines in Colombia (Marmato and Segovia) and two large development projects, one in Colombia and one in Guyana. In 2025, they produced 257,000 ounces of gold. Their average selling cost was $3,526/ounce and their average mining cost (AISC) was $1,705/ounce. So, their gross mine profit was $467 million. In 2026, they have guided production between 300,000 and 350,000 ounces at similar costs. The mid-point of guidance equals a 26% growth in ounces produced. They have plans to increase the production in the existing mines after 2026 and their target is to become a 1 million ounce producer within 5 years. In the Q1 2026, they generated EBITDA of $212 million (a run rate of $800 million per year which is the same as the Bloomberg consensus estimates). So, the Company is trading at only 3.75x EBITDA. This compares favorably to the average EBITDA multiple of the S&P 500 which is currently 17x and even more so compared to the MAG-7 stocks which trade at an average multiple of 28x..." (Click here to r

Carillon Tower Advisers, an investment management company, released its second-quarter 2026 investor letter for the "Carillon Eagle Growth & Income Fund". A copy of the letter is available to download here. The second quarter of 2026 was driven by a sharp rally in AI-related stocks, although gains were concentrated in highly cyclical semiconductor, memory and optical companies. The S&P 500 gained 15.2%, while the semiconductor index surged 87.8%. Unlike earlier AI rallies led by megacaps and strong earnings growth, some smaller technology stocks rose 200% to 300%, making the advance more fragile. Software and services stocks declined as investors questioned the impact of AI disruption. Oil prices also rose during the Iran conflict before retreating, briefly increasing inflation and interest-rate concerns. Despite the volatility, economic data and corporate earnings remained strong. S&P 500 earnings are projected to rise 25% in 2026 and 15% in 2027, with the market trading near 20x earnings. The Fund continues to focus on financially strong companies with durable earnings growth that can perform across different economic conditions. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Carillon Eagle Growth & Income Fund highlighted Chevron Corporation (NYSE:CVX). Chevron Corporation (NYSE:CVX) engages in the integrated energy and chemicals operations. On July 27, 2026, Chevron Corporation (NYSE:CVX) closed at $190.00 per share. One-month return of Chevron Corporation (NYSE:CVX) was 14.62% and its shares gained 21.00% over the past 52 weeks. Chevron Corporation (NYSE:CVX) has a market capitalization of $378.4 billion with a 52-week range between $146.49 - $214.71.
Carillon Eagle Growth & Income Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its Q2 2026 investor letter:
"Chevron Corporation's (NYSE:CVX) weak share price performance in the second quarter, following very strong performance in the first quarter, closely aligns with crude oil prices throughout 2026. Crude prices mirror news flows out of the Middle East with particular attention to transit levels through the Strait of Hormuz. This will continue for the duration of the conflict. However, Chevron is well placed to benefit from generally high commodity price levels, a high-quality ***** et base, and continued discipline around cash flow generation and capital deployment."
Chevron Corporation (NYSE:CVX) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 103 hedge fund portfolios held Chevron Corporation (NYSE:CVX) at the end of the first quarter which was 86 in the previous quarter. While we acknowledge the potential of Chevron Corporation (NYSE:CVX) 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 significantl