Magellan Asset Management, an investment management company, released the fourth quarter 2025 investor letter for “Magellan Global Fund”. A copy of the letter can be downloaded here. The fund focuses on investing in outstanding companies at attractive prices and, at the same time, leverages a deep understanding of the macroeconomic landscape to manage risk. As […]
Magellan Asset Management, an investment management company, released the fourth quarter 2025 investor letter for “Magellan Global Fund”. A copy of the letter can be downloaded here. The fund focuses on investing in outstanding companies at attractive prices and, at the same time, leverages a deep understanding of the macroeconomic landscape to manage risk. As […]
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
In recent trading, shares of Nokia Corp (Symbol: NOK) have crossed above the average analyst 12-month target price of $8.30, changing hands for $8.82/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, o
In recent trading, shares of Nokia Corp (Symbol: NOK) have crossed above the average analyst 12-month target price of $8.30, changing hands for $8.82/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, o
In recent trading, shares of Globalstar Inc (Symbol: GSAT) have crossed above the average analyst 12-month target price of $69.75, changing hands for $77.73/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valua
In recent trading, shares of Globalstar Inc (Symbol: GSAT) have crossed above the average analyst 12-month target price of $69.75, changing hands for $77.73/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valua
In recent trading, shares of Virtu Financial Inc (Symbol: VIRT) have crossed above the average analyst 12-month target price of $46.14, changing hands for $46.22/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on
In recent trading, shares of Virtu Financial Inc (Symbol: VIRT) have crossed above the average analyst 12-month target price of $46.14, changing hands for $46.22/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on
Julius Jansson/iStock Editorial via Getty Images On Friday, AerCap Holdings N.V. reported its Q1 2026 results and completed 202 lease agreements, covering 81 aircraft, 102 engines, and 19 helicopters. During Q1, it made 32 purchases, including 10 aircraft, 20 engines, and 2 helicopters. The company also completed 52 sale transactions, including 47 aircraft, 4 engines, and 1 helicopter. Additionall...
Julius Jansson/iStock Editorial via Getty Images On Friday, AerCap Holdings N.V. reported its Q1 2026 results and completed 202 lease agreements, covering 81 aircraft, 102 engines, and 19 helicopters. During Q1, it made 32 purchases, including 10 aircraft, 20 engines, and 2 helicopters. The company also completed 52 sale transactions, including 47 aircraft, 4 engines, and 1 helicopter. Additionally, they signed $3B in financing deals, repurchased ~5.4M shares for ~$745M, and declared a $0.40 per share quarterly dividend. Source: Press Release More on AerCap AerCap Holdings: A Sustained Value Creator AerCap: Turning Used Aircraft Into A Strong Buyback Machine (Rating Upgrade) AerCap Holdings N.V. (AER) Q4 2025 Earnings Call Transcript AerCap leases two Boeing 777-300ERSF converted freighters to Ethiopian Airlines AerCap expands narrowbody bet with order for 100 Airbus A320neo jets
Dorfman theatre, London Comedy infuses Winsome Pinnock’s disarming but ebullient drama about two Black academics who are given the job of authenticating the diaries of an enslaver You don’t imagine many laughs in a story about enslavement legacies and erased Black histories. But comedy infuses Winsome Pinnock’s ebullient drama about two Black academics who are given the job of authenticating a cac...
Dorfman theatre, London Comedy infuses Winsome Pinnock’s disarming but ebullient drama about two Black academics who are given the job of authenticating the diaries of an enslaver You don’t imagine many laughs in a story about enslavement legacies and erased Black histories. But comedy infuses Winsome Pinnock’s ebullient drama about two Black academics who are given the job of authenticating a cache of 18th-century diaries written by an enslaver. Fen (short for Fenella, played by Sylvestra Le Touzel), is a direct descendant of Henry Harford, now managing his illustrious country estate, and it is she who finds the diaries that catalogued life on his Jamaican farm run by enslaved people. She gives Abi (Rakie Ayola) and Marva (Cherrelle Skeete) full rein of the diaries, so that they can authenticate them for posterity. Harford showed every sign of having been an abolitionist, she says in mitigation, although Abi and Marva’s investigations turn up disturbing evidence of his brutality in Jamaica. Continue reading...
Getty Images In an otherwise quiet day, with U.S. equity markets closed for the holiday weekend, Friday’s job report provided some good news to investors juggling continuing market volatility. On the final trading day prior to the holiday, indexes reversed course on two-day momentum following President Trump’s speech on the war with Iran on Wednesday evening. Following that speech, all three index...
Getty Images In an otherwise quiet day, with U.S. equity markets closed for the holiday weekend, Friday’s job report provided some good news to investors juggling continuing market volatility. On the final trading day prior to the holiday, indexes reversed course on two-day momentum following President Trump’s speech on the war with Iran on Wednesday evening. Following that speech, all three indexes remain in the red on a YTD basis, with the Dow Jones Industrial Average ( DJI ), S&P 500 ( SPY ), and Nasdaq Composite ( NDX ), all down between 3% and 5%. Yields on long-term yields, meanwhile, continue to track within the 4.35% to 4.4% range. Seeking Alpha - YTD Returns Of DJI, SP500, & NDX With the holiday closure, investors will have to wait until Monday to express their reaction to today’s report. In my view, attention likely will have already pivoted back to developments on the war front by then. Today’s report was a positive bounce back reading from a February reading that was somewhat distorted due to the healthcare strike. Here’s everything to know about the March jobs report. What Sectors Added Jobs In March? On an overall basis, employers added 178,000 jobs in March, well above the 59,000 jobs expected. Job gains were strong throughout but most pronounced in the healthcare sector. After losing jobs in February due to strike activity, the sector bounced back in a big way. The sector added 76,000 jobs during the month, well above the twelve month average of 29,000 jobs. BLS - Employment Change By Month For March This wasn't a surprise to me, especially with the strike activity concluding. Gains, however, were better than expected elsewhere. In the construction sector, for example, employers added 26,000 jobs. This was almost half the gains that were expected for the month. These gains were supplemented by a 21,000 job gain in the transportation and warehousing sector as well. Two struggling sectors continue to be federal, which lost 18,000 jobs and financial act...
Klaus Vedfelt/DigitalVision via Getty Images In investing, there is no free lunch other than diversification which, if approached properly, can reduce risk without introducing a drag on return potential (i.e., cost-free hedge). So, what certainly costs something is climbing up the yield ladder. The higher yields we choose, the more we have to pay with income and value stability. There is a huge hi...
Klaus Vedfelt/DigitalVision via Getty Images In investing, there is no free lunch other than diversification which, if approached properly, can reduce risk without introducing a drag on return potential (i.e., cost-free hedge). So, what certainly costs something is climbing up the yield ladder. The higher yields we choose, the more we have to pay with income and value stability. There is a huge high-quality opportunity set within 3% to 5% yield zone (I'm not considering anything that is below 3% as they typically do not move the needle for most income-focused investors). Here we can find robust picks which offer both decent income and strong growth potential - e.g., the SPDR® S&P 500 ETF Trust ( SCHD ) yielding 3.4% with a 10-year dividend CAGR of 10.4%. The next zone is about income opportunities that yield from 6% to 9%. Here the available opportunity set that could be acceptable for prudent investors already is much smaller. However, it is still possible to find a good amount of defensive yield-producers (but they don't offer as pronounced income growth potential as the previous picks). Midstream MLPs ( AMLP ), infrastructure ( UTF ) and select REIT and BDCs plays like EPR Properties ( EPR ) and Main Street Capital Corporation ( MAIN ), respectively, could fit in this category. Now, when it comes to 9%+ zone, the investable universe becomes very small. Some business development companies ("BDCs"), high-quality closed-end funds ("CEFs") and covered call ETFs might still offer the necessary value and income stability, but other than that the odds of scooping up a value-destructive mine are way larger than picking a "retirement-proof" yield machine. Each incremental uptick in yield comes with exponentially higher probabilities of hitting a land mine. In the title of this article I have referred to "14%+ zone" which is very dangerous. FS KKR Capital Corp. ( FSK ), Horizon Technology Finance ( HRZN ), XAI Octagon Floating Rate & Alternative Income Trust ( XFLT ), Oxfo...
Torsten Asmus/iStock via Getty Images Looking for something a bit different in the high yield arena? The Virtus Dividend, Interest & Premium Strategy Fund ( NFJ ) combines equity investing with selling covered calls, plus convertibles. Fund Profile: "The Fund seeks current income and gains, with long-term capital appreciation as a secondary objective. Under normal circumstances, the Fund will inve...
Torsten Asmus/iStock via Getty Images Looking for something a bit different in the high yield arena? The Virtus Dividend, Interest & Premium Strategy Fund ( NFJ ) combines equity investing with selling covered calls, plus convertibles. Fund Profile: "The Fund seeks current income and gains, with long-term capital appreciation as a secondary objective. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in securities and other instruments that provide dividends, interest or option premiums. The Fund will employ an option strategy of writing (selling) covered call options on equity securities held in the Fund. The equity portion of the Fund generally invests in U.S. equities and American depositary receipts (ADRs) with attractive quality characteristics, shareholder yield, and consistent financial output. The convertible portion of the Fund generally invests in income-producing convertible securities, including synthetic convertible securities, and may include convertible securities that are of below-investment grade quality." ( NFJ site .) Founded in 2005, NFJ is among the top 30 biggest market cap equity closed-end funds, "CEF's," and is in the top 35 for average daily volume, at 220K. As of 12/31/25, it had 171 holdings, and a 0.96% expense ratio. Hidden Dividend Stocks Plus Holdings: Common Equities formed 76.39% of NFJ's portfolio, as of 12/31/25, followed by Convertible Securities, at 21.92%, and 1.72% in Cash: nfj The Equity portion of the portfolio favors the Financials sector, at 32.17%, followed by Tech, at 14.13%, Health Care, at 10.61%, and Consumer Discretionary, at 10.48%. There was exposure to 7 other sectors, running from 2% for Consumer Staples, up to 7% for Communication Services, as of 12/31/25: nfj The Fixed Income part of the portfolio had Tech as its biggest exposure, at 30.58%, followed by Financials, at 16%, Health Care, at 15.67%, Consumer Discretionary, at 12.09%, Indus...
PM Images/DigitalVision via Getty Images The Cambria Shareholder Yield ETF ( SYLD ) has a distinct investment approach in the small- and mid-cap space. The fund targets companies that offer a combination of solid dividends, buybacks, and debt paydown, leading to very low valuations and a sector mix that does not resemble other value and dividend-oriented ETFs. This is a setup that has some appeal ...
PM Images/DigitalVision via Getty Images The Cambria Shareholder Yield ETF ( SYLD ) has a distinct investment approach in the small- and mid-cap space. The fund targets companies that offer a combination of solid dividends, buybacks, and debt paydown, leading to very low valuations and a sector mix that does not resemble other value and dividend-oriented ETFs. This is a setup that has some appeal now, with overweight exposure to sectors like energy. The flip side is its modest growth and profitability profile, and potential vulnerability to an economic downturn. With that in mind, the following sections will break down the fund’s portfolio and compare its sector mix, valuation, and performance with the broader market and its peer group. ETF Description & Highlights SYLD provides targeted exposure to companies that consistently return cash to shareholders. Through an active management philosophy, the fund follows an investment process that first identifies the top 20% of stocks in the U.S. market with the highest dividend payments and net share buybacks. From this pool, Cambria, the fund manager, selects the top 100 stocks based on dividends, buybacks, and additional metrics, including a debt paydown score and valuation ratios such as price to sales and price to earnings. The fund targets an equal-weighted structure, though stocks’ price fluctuations result in distinct weights across the portfolio. As of March 26, 2026, SYLD had $902.3 million in assets under management, invested in a portfolio of 100 companies, with an average market capitalization of $9.65 billion. The fund’s allocation is spread across the lower end of the market-cap spectrum, with its largest exposures in small caps (38.8%) and mid caps (33.8%), followed by a still meaningful allocation to micro caps (21.1%). On the other hand, the exposure to large caps (5.0%) and mega caps (1.0%) is quite limited, which gives the fund a clear small- to mid-cap profile. For comparison purposes, we are going to u...
Tesla’s (NASDAQ: TSLA) stock reacted poorly to its first-quarter sales count. It fell short of expectations for some. The big EV company produced 408,383 and delivered 358,023. People wondered what the difference was. Tesla has a big and perhaps troubling backlog. Deliveries improved 6% from a year ago, when Tesla reported 336,681. That is a ... Tesla’s Little Miracle
Tesla’s (NASDAQ: TSLA) stock reacted poorly to its first-quarter sales count. It fell short of expectations for some. The big EV company produced 408,383 and delivered 358,023. People wondered what the difference was. Tesla has a big and perhaps troubling backlog. Deliveries improved 6% from a year ago, when Tesla reported 336,681. That is a ... Tesla’s Little Miracle