IvelinRadkov/iStock via Getty Images AVGV Strategy Avantis All Equity Markets Value ETF ( AVGV ) is an actively managed fund of funds launched on 06/27/2023. AVGV has a portfolio of 6 ETFs, a 12-month trailing yield of 2.14%, and an expense ratio of 0.26%. Distributions are paid quarterly. As described by Avantis , the fund exclusively invests in six value-focused ETFs, with target weights of 60% in U.S. equities, 30% in ex-U.S. developed markets, and 10% in emerging markets. The real weights may vary in a 20% range (15% for emerging markets), as defined below. Allocation policy (AVGV prospectus) Each of these ETFs is actively managed and targets companies with higher profitability and value characteristics. Valuation is primarily measured by the adjusted book/price ratio, and profitability by the adjusted cash from operations to book value ratio. However, other metrics may be considered. I will use iShares MSCI ACWI ETF ( ACWI ) as a benchmark. Portfolio The weights on 3/20/2026 are reported below. TICKER NAME WEIGHT AVLV Avantis US Large Cap Value ETF 36.63% AVIV Avantis International Large Cap Value ETF 18.15% AVUV Avantis US Small Cap Value ETF 17.83% AVES Avantis Emerging Markets Value ETF 10.39% AVDV Avantis International Small Cap Value ETF 9.59% AVMV Avantis US Mid Cap Value ETF 7.31% Click to enlarge U.S. equities represent 61.8% of assets (62.7% in ACWI), followed by Japan at about 7% (5.2% in ACWI). No other country weighs more than 4% in AVGV or the benchmark. Compared to ACWI, AVGV greatly downplays technology, offering a balanced sector breakdown with the top five sectors between 13% and 16%, as plotted below. AVGV sector breakdown (chart: author; data: Avantis, iShares) Fundamentals In accordance with the strategy description, AVGV has solid value characteristics. It is much cheaper than ACWI based on valuation ratios and has lower growth rates, as reported below. AVGV ACWI P/E TTM 15.89 23.23 Price/Book 2.05 3.5 Price/Sales 1.11 2.76 Price/Cash Flow ...

syahrir maulana/iStock via Getty Images Market Review Value stocks led U.S. markets higher in the fourth quarter, with large-cap value broadly outperforming growth counterparts. Artificial intelligence (AI) remained a dominant performance driver. Yet, significant multiple expansion across the AI trade helped to prompt emerging signs of market broadening, as investors diversified into a wider range of more attractively priced companies delivering above-expectations earnings growth. Cyclically sensitive stocks, however, largely continued to lag. Federal Reserve rate cuts and resilient U.S. economic growth provided a supportive backdrop, encouraging investors to look ahead to broadening fundamental strength across a wider set of end markets. Performance The Virtus Ceredex Small-Cap Value Equity Fund returned +2.28% (Class I) for the quarter compared to the Russell 2000® Value Index's return of +3.26%. The largest sector contributors were information technology, energy, and industrials stock selection. The main sector detractors were underweight healthcare exposure and financials and materials stock selection. Bruker and Amkor Technology were among the top contributors. Scientific instruments firm Bruker ( BRKR ) rebounded after selling off sharply last quarter. The stock was supported by strong biotech sector performance and increased drug trial spending. The company also continued to move past DOGE cut concerns, with academic and government demand coming back. We held steady with the stock based on its strong fundamentals and upbeat outlook. Semiconductor product packaging and test services provider Amkor Technology ( AMKR ) outperformed, delivering above-expectations earnings and revenue driven by the surge in chip spending and its key role in the AI supply chain. We added to the position, viewing a long runway for continued growth. Bath & Body Works and AAON were among the largest stock detractors. Specialty retail company Bath & Body Works ( BBWI ) declined on disa...

Sunraycer Renewables, LLC ("Sunraycer"), a leading utility-scale developer, owner, and operator of solar and energy storage projects, today announced the execution of two long-term Power Purchase Agreements (PPAs) with Google for the Lupinus and Lupinus 2 solar projects in Texas.

Argo Biopharmaceutical Co., Ltd. (Argo Biopharma), a clinical-stage small interfering RNA (siRNA) therapeutics company, is proud to have been named to Fast Company's list of the World's Most Innovative Companies of 2026. This year's list highlights businesses that are shaping industry and culture through their innovations.

GRAND RAPIDS, Mich., March 24, 2026--Woodchuck, the climate impact startup reinventing how construction wood waste is managed, has been named one of Fast Company’s Most Innovative Companies for 2026, ranking no. 4 in the Small and Mighty: Fewer than 50 Employees category. The annual list recognizes organizations that are redefining industries, advancing technology, and driving measurable impact across the global economy. Woodchuck joins the ranks of companies such as Google, Nvidia, Adidas, and

With more global conflicts brewing and artificial intelligence reshaping modern warfare , defense tech investing is ascendant. That’s presented an opportunity for Overmatch Ventures , which is raising a $250 million fund to bet on startups working on products like drones, spacecraft and portable renewable energy. With the new funding, Texas-based Overmatch is also adding a third general partner: Morgan Hitzig , a Navy officer who was previously an investor at Venrock. Overmatch focuses on early-stage investments in defense and so-called frontier research, including space startups, quantum technology and robotics. General Partner Evan Loomis describes its focus as the “intersection of deep tech and the geopolitical competition.” The firm is led by Loomis, co-founder of construction firm ICON Technology Inc. and holding company Saturn Five; Jordan Blashek, a Marine combat veteran and former investor at Roadrunner Venture Studios ; and now Hitzig, who also previously worked with the New York Police Department on counterterrorism. Overmatch’s portfolio companies include autonomous vehicle startups like Saronic Technologies and Overland AI Inc., space companies like Impulse Space Inc., and energy upstarts including Base Power Inc. and Exowatt Inc. It’s also an investor in Elon Musk ’s xAI. Startups that work with hardware and the physical world, as well as those pushing forward what’s possible with software, will help the US maintain an edge in the global race for technological advantage, Blashek said. “These technologies are at the center of this growing competition between superpowers, because ultimately these technologies are what keep us secure, free and prosperous,” he said. The latest cash influx will constitute the firm’s second fund, which will focus on very early startups up to Series A companies. A portion of the fund will also be used to incubate new startups — identifying promising ideas and recruiting founders to lead the businesses.

TROY, Mich., March 24, 2026--JD Power: EV Home Charging Costs Rise and Satisfaction Falls, but Few EV Owners Take Advantage of Scheduled Charging or Smart Charging Programs

HOBOKEN, N.J., March 24, 2026--NiCE (Nasdaq: NICE) today announced that it has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2026. This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. NiCE ranked 11th in the Applied AI category in this list, alongside a total of 720 recognized honorees across 59 sectors and regions.

PITTSBURGH, March 24, 2026--Gather AI is proud to be named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2026. This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. Alongside the World’s 50 Most Innovative Companies, Fast Company recognizes 720 honorees across 59 sectors and regions.

WINKLER, Manitoba, March 24, 2026--Thunderstruck Ag is proud to have been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2026. This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. Alongside the World’s 50 Most Innovative Companies, Fast Company recognizes 720 honorees across 59 sectors and regions.

FORT LAUDERDALE, Fla., March 24, 2026--Citrix, a Cloud Software Group company, today announced new browser‑native security capabilities developed in partnership with Google to help organizations securely enable access from unmanaged and third‑party devices. The latest enhancements extend Citrix Secure Access™ with Chrome Enterprise, delivering stronger protection against data loss and malware risks without requiring endpoint agents, device control, or changes to how users work.

Bank of Montreal plans to offer tokenized cash services and deposits to institutional clients, allowing them to move money around more easily at any time. The Canadian bank is launching the service through the network of CME Group Inc. , the largest US derivatives exchange. “Clients will be able to move funds continuously when markets demand it, not when banking hours allow it,” Derek Vernon, the bank’s head of North American treasury and payment solutions, said in a statement Tuesday. Financial firms and exchanges are looking for ways to expand the hours in which they can trade and move assets. Tokenization, which creates digital representations of real-world assets on a blockchain, has been touted as a solution for the problem of moving trading and collateral around the clock. Tokenized cash is an institutional settlement service. BMO and CME plan to launch it in the second half of the year, pending regulatory approval. Once they do so, regulated financial firms and commercial banks that are clients of both the firms will be able to use the service to settle trading, margin calls and collateral 24 hours a day. Last year, CME began testing Google Cloud’s blockchain technology as it sought to improve market infrastructure amid the global shift toward all-day trading. The US exchange is moving some of its markets to the cloud before the end of the year, according to Chief Executive Officer Terry Duffy.

The Agentic AI revolution is a multi-trillion-dollar investment opportunity. While many of the top Agentic AI companies are held privately, public investors can find backdoor means to invest in them.

Apple (AAPL) Rated Sector Weight on Mixed Spending Trends Insider Monkey

Salem Investment Counselors Inc. Reduces Stake in Taiwan Semiconductor Manufacturing National Today

Salem Investment Counselors Inc. Reduces Stake in Taiwan Semiconductor Manufacturing nationaltoday.com

全球能源转型离不开中国，沙特利用了中国的绿能技术供应链 3月22日，中国发展高层论坛2026年年会，沙特国际电力和水务公司（Acwa）创始人兼董事会主席穆罕默德·阿布纳扬（Mohammad Abunayyan）发言。图：中国发展高层论坛 【财新网】 沙特这个全球石油禀赋最丰富的国家，正成为“能源绿色转型最快的国家”。沙特国际电力和水务公司（Acwa）创始人兼董事会主席穆罕默德·阿布纳扬（Mohammad Abunayyan）作出如上表述。Acwa中国区主席、曾担任沙特投资部副部长的赛乐（Saleh Al Khabti）对财新指出，与中国企业合作可将能源转型的成本大幅降低，更快推动能源转型。 “对于我的国家来说，当前是个极不容易的时刻。”阿布纳扬作为“2026中国发展高层论坛”惟一一位来自沙特企业的负责人，在“全球绿色低碳转型与可持续发展专题研讨会”的演讲中坦言，“虽然面临（美伊冲突）战争及其带来的复杂情况，沙特的38个机场仍然全天开放运营，人们的生活工作如常。”

While Elon Musk has his fans and detractors, it’s safe to say that both camps would have to agree that, if nothing else, Musk is definitely someone who thinks outside-the-box. His announcement in February that he was making plans to move A.I. data centers into space within 30 months met with a range of reactions. ... Elon’s Big Idea Could Pop The Data Center Bubble

CoreWeave is poised to gain ground thanks to strong demand for artificial intelligence infrastructure, according to Bank of America Global Research. The bank reinstated coverage of CoreWeave with a buy rating, up from hold. It set a $100 price objective for the stock, suggesting 22% upside from Monday's close. "CoreWeave is well positioned to capture [a] share of the $79bn AI infrastructure as a service (Iaas) market," Bank of America analyst Tal Liani said in the note. "While risks exist, we believe the demand trajectory is solid in the foreseeable future." "We are constructive on CoreWeave in the medium term, as we think that over the next 12 months the company should benefit from a steady cadence of GPU deliveries, new data‑center energization, incremental reserved‑capacity signings, and continued refinancings that help support execution of the build‑out," Liani wrote. CRWV YTD mountain CRWV year to date Four hyperscalers — Alphabet, Microsoft, Meta, and Amazon — have committed nearly $700 billion in combined capex to build new AI data centers. However, CoreWeave has a proprietary software that is optimized for AI workloads, giving it an edge on competitors to capitalize on that boom, according to BofA. The cloud-computing firm also boasts "strategic alliances" with Nvidia and OpenAI, which should boost its bid to capture market share. Those attributes have led Bank of America analysts to adopt a constructive outlook on CoreWeave over the medium and longer terms. "We think that over the next 12 months the company should benefit from a steady cadence of GPU deliveries, new data‑center energization, incremental reserved‑capacity signings, and continued refinancings that help support execution of the build‑out," Liani wrote. "Over the longer term (12-24 months), we expect improving ROIC on newer cohorts, more evidence of pricing durability at renewal, and signs of platform sustainability." Bank of America's upgrade puts it in line with consensus on Wall Street. Of t...

Xpeng is shooting for real-world robotaxi trials later this year.

上周六，埃隆・马斯克登台公布其进军半导体制造的计划时，极尽夸张之词。 “我有一项重要宣布，这将是迄今为止史上最宏大的芯片制造项目，” 他在得克萨斯州奥斯汀面对一小部分观众表示，“这将真正把行业推向新高度，一个目前人们甚至都未曾设想的高度。我们要把现有格局提升几个数量级。” 从未有人提出过马斯克口中 “万亿晶圆厂（Terafab）” 这般规模的计划。按照其描述，该项目将是一座巨型工厂，专门为人工智能、机器人技术及太空探索生产尖端半导体。他不仅要挑战全球顶尖芯片制造商 台积电 （TSM），更计划以远超行业当前产能的规模进行生产。 其规模令人难以置信。伯恩斯坦分析师估算，该项目预计需要 5 万亿至 13 万亿美元 资本开支，可新建 140 至 360 座工厂，每座月产 5 万片晶圆，以实现他提出的每年 1 太瓦算力目标。 身为目前全球首富，马斯克此前已多次完成他人眼中不可能之事：用 SpaceX 打造出具备商业可行性的火箭业务，用 特斯拉 将电动汽车推向主流，用星链实现太空互联网连接。但不少人怀疑，马斯克能否、甚至是否真打算建造他在奥斯汀勾勒出的这座工厂。 包括史黛西・拉斯贡在内的伯恩斯坦分析师写道：“在我们看来，真正建成万亿晶圆厂几乎不切实际。” 其所需算力规模 “相当于当前全球已投产半导体总产能，而要生产‘相关’AI 芯片，甚至需要数倍于现有产能”。战略分析机构 Moor Insights & Strategy 的帕特里克・穆尔黑德则表示，马斯克最终大概率根本不会兴建芯片晶圆厂。 相反，马斯克抛出万亿晶圆厂构想的真正目的或许另有他图：凸显芯片产能日益紧缺的现状，或是倒逼芯片厂商加大扩产力度；也可能是为今年晚些时候计划 IPO 的 SpaceX 提升市场预期。 硅谷日益担忧，半导体行业扩产速度跟不上 AI 企业实现宏伟商业计划所需的芯片供应量。 亚马逊 、字母表公司等超大规模云厂商预计，仅今年一年就将投入约 6500 亿美元 建设数据中心基础设施。这已造成存储芯片严重短缺，并开始蔓延至 AI 加速芯片领域。 责任编辑：郭明煜

不代表将持续收紧中长期流动性 3月24日，央行发布公告称，为保持银行体系流动性充裕，25日将以固定数量、利率招标、多重价位中标方式开展5000亿元MLF（中期借贷便利）操作，期限为1年期。 当月MLF到期4500亿元， 操作落地后净投放500亿元，为连续13个月加量 ，但加量规模小于上月的3000亿元。 另外，3月两个期限品种的买断式逆回购合计净回笼3000亿元，结合MLF的净投放，3月中期流动性净回笼2500亿元。 “3月中期流动性出现净回笼， 为2024年10月以来首次 。”东方金诚首席宏观分析师王青表示，这可能 主要与年初两个月中期流动性净投放规模高达1.9万亿元，3月资金面持续处于偏充裕状态有关，不代表央行将持续收紧中长期流动性。 接下来央行将综合运用存款准备金率、国债买卖、MLF、买断式逆回购等中长期流动性管理工具，保持资金面处于较为稳定充裕的状态。 中信证券首席经济学家明明认为，今年春节以来，市场整体宽松，流动性供需总体保持均衡，3月以来几项长端流动性工具均以净回笼为主。此外，近期地缘政治冲突对我国通胀输入性风险抬升，货币政策可能结合内外均衡合理安排，总量操作更加平稳。 一般而言，中期流动性投放工具与降准、国债买卖等长期流动性投放工具之间存在一定替代关系。中期流动性净回笼是否意味着降准将至？ 王青认为，要结合宏观经济金融走势判断降准落地时间。2月底以来，中东局势演变推动国际油价大幅上冲，3月国内整体物价水平出现较强上行态势，这也会对经济增长动能形成一定扰动。短期来看，在外部不确定性骤然升高过程中，国内货币政策很可能以保持流动性充裕、稳定市场预期为主；当前政策重心会阶段性地向控制物价过快上涨倾斜， 降准降息等操作有可能适度延后 。 明明认为，后续可关注基本面数据的边际变化，以及全球资本市场波动变化，预计货币政策将保持适度宽松基调。

Christine Lagarde is impatient with Howard Lutnick, short-termist European politicians and the slow pace at which Europe is adopting the digital euro

VersaBank ( VBNK ) announced on Tuesday that the bank has entered into a definitive agreement for the sale of certain assets associated with its only bank branch in Holdingford, Minnesota, to Stearns Bank National Association. The Holdingford Sale will have de minimis impact on VersaBank's tangible book value and is expected to result in a one-time, non-cash intangible asset write-off of approximately $1.7 million in the second quarter of fiscal 2026. Otherwise, the transaction, which is anticipated to close in Q226, is expected to have de minimis financial implications for the bank beyond the contribution to efficiency. "The sale of our only retail bank branch back to Stearns Bank is consistent with our highly efficient branchless, partner-based, digital banking model, and the resulting cost savings will contribute to our operating leverage as we continue to steadily ramp up our Structured Receivable Program business in the U.S., " said David Taylor , founder and president of VersaBank. "The efficiency of our U.S. operations has already surpassed that of our Canadian operations. As a cloud-based bank with one of the most unique operating models in North America , we are well positioned to continue to drive an enhanced efficiency ratio to industry-leading levels." Source: Press Release More on VersaBank Historical earnings data for VersaBank Dividend scorecard for VersaBank Financial information for VersaBank

Karyopharm Therapeutics ( KPTI ) announced a $30M private placement specifically with RA Capital and an additional ~$44M of gross proceeds if the accompanying warrants are exercised in full. In the private placement, the company agreed to sell ~1.03M shares at a price of $6.785 per share, ~3.39M pre-funded warrants at a price of $6.7849 per pre-funded warrant, and accompanying warrants to purchase ~4.42M shares with an exercise price of $10.00 per share. The proceeds will be used for general corporate purposes, including to support the company's ongoing and planned clinical trial activities. The private placement is expected to close on or about March 26, 2026. The stock price jumped ~18% to $7.81 on Tuesday during pre-market hours of trading. More on Karyopharm Therapeutics Karyopharm Therapeutics Inc. (KPTI) Q4 2025 Earnings Call Transcript Karyopharm Therapeutics Inc. 2025 Q4 - Results - Earnings Call Presentation Karyopharm signals $130M–$150M revenue target for 2026 with pivotal myelofibrosis data readout ahead Karyopharm Therapeutics GAAP EPS of -$5.71 misses by $3.67, revenue of $34.08M beats by $0.92M Seeking Alpha’s Quant Rating on Karyopharm Therapeutics

Li Auto to Buy Back Up to $1B in Shares 富途牛牛

三星劳资博弈进入关键一周。 3月24日，三星电子持续数月的劳资对峙出现缓和迹象。有消息称，在经历长期僵持与罢工授权后，管理层与工会正式同意重回谈判桌，寻求在奖金制度等核心争议点上达成共识。 根据最新达成的计划，双方将于3月25日启动事务级磋商，并于26日、27日展开为期两天的集中谈判。若周五前未能达成一致，日程可能延续至周末，最终结果将在会谈结束后对外公布。就在一天前，工会原定在三星电子会长李在镕住宅前的抗议活动已宣布取消，转而与公司高层先行对话。 今日第一财经记者就相关进展询问三星方面人士，截至发稿未获回应。 工会方面重申，谈判的前提条件是废除综合绩效奖金（OPI）50%的发放上限，并对现行奖金制度进行改革以提升透明度。 此次谈判重启的关键推动力，来自三星电子副会长、半导体（DS）部门负责人全永铉（Jun Young-hyun）的介入。他已与四位工会领袖举行了长达90分钟的闭门会谈，并表示公司愿意将“提高OPI透明度”和“废除奖金上限”两项内容纳入议事日程，这也是此前谈判破裂的最大障碍。 工会方面表示，无论谈判结果如何，仍保留发起总罢工的可能性。当前，三星电子正全力争夺全球激增的AI存储芯片需求市场。此前行业观察人士警告，任何长期生产中断，都可能在关键节点影响半导体产能。一旦三星平泽园区减产，DRAM和NAND Flash合约价格或将面临二季度的进一步上涨，并影响AI数据中心的部署节奏，也不排除客户将订单转向竞争对手美光和SK海力士。 一家PC厂商人士告诉第一财经记者，内存芯片供应紧张且价格持续上涨，其公司零部件库存囤积量已比平时高出约50%。从价格来看，上个季度存储价格上涨了40%至50%，本季度涨幅更为显著，“可能要翻番”，甚至CPU等核心部件也在跟进涨价。 有电视终端企业相关负责人对记者表示，受三星电子工会罢工事件影响，预计内存短缺和涨价形势将更趋严峻，而消费电子终端产品价格或将延续涨势。 此前群智咨询发布的研报显示，2026年第一季度存储价格涨幅超出预期，其中消费电子存储价格环比涨幅超过60%，NAND闪存价格环比涨幅突破70%。

南都电源公告，公司于2026年3月24日召开董事会，决定终止转让全资孙公司安徽华铂再生资源科技有限公司100%股权。此前，公司计划将华铂再生资源100%股权作价14.15亿元转让给安徽省厚基联能运营管理合伙企业。因市场环境及资金筹备变化，各方决定终止交易，已支付的1500万元股权转让款将返还。终止事项不会对公司现有生产经营活动、财务状况造成重大不利影响。

美股異動丨理想汽車盤前漲超4% 宣佈10億美元的股票回購計劃 富途牛牛

Key PointsOil price shock events are historically bad news for the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite.