juvaida khatun/iStock via Getty Images Investment Process We seek to invest in high-quality, undervalued companies with strong balance sheets and shareholder-oriented management teams. Undervaluation Determining the intrinsic value of a business is the heart of our research process. Intrinsic value represents the amount that a buyer would pay to own a company's future cash flows. We seek to invest...
juvaida khatun/iStock via Getty Images Investment Process We seek to invest in high-quality, undervalued companies with strong balance sheets and shareholder-oriented management teams. Undervaluation Determining the intrinsic value of a business is the heart of our research process. Intrinsic value represents the amount that a buyer would pay to own a company's future cash flows. We seek to invest at a significant discount to our estimate of the intrinsic value of a business. Business Quality We seek to invest in companies with histories of generating strong free cash flow, improving returns on capital and strong competitive positions in their industries. Financial Strength We believe that investing in companies with strong balance sheets helps to reduce the potential for capital risk and provides company management the ability to build value when attractive opportunities are available. Shareholder-Oriented Management Our research process attempts to identify management teams with a history of building value for shareholders. Portfolio Management Daniel J. O'Keeffe Portfolio Manager (Lead) Managing Director Michael J. McKinnon, CFA Portfolio Manager Managing Director Investment Results (%) As of 31 March 2026 Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception Investor Class: ARTGX —Inception: 10 Dec 2007 -3.09 -3.09 19.13 18.30 10.68 10.64 8.86 Advisor Class: APDGX —Inception: 1 Apr 2015 -3.06 -3.06 19.34 18.49 10.85 10.80 8.95 Institutional Class: APHGX —Inception: 17 Jul 2012 -3.01 -3.01 19.42 18.60 10.95 10.91 9.05 MSCI All Country World Index -3.20 -3.20 20.01 16.58 9.49 11.33 6.83 MSCI All Country World Value Index 1.17 1.17 17.79 14.71 9.20 9.12 5.12 Click to enlarge Source: Artisan Partners/MSCI. Returns for periods less than one year are not annualized. For the period prior to inception, each of Advisor Class and Institutional ...
Lumentum Holdings is back in the spotlight after a sharp reset in analyst expectations, with one updated fair value estimate moving from US$655.55 to US$773.35. That shift lines up with Street commentary that is increasingly focused on AI driven optical demand, larger customer commitments, and recent capacity and index inclusion news. As you read on, you will see how this evolving narrative, both ...
Lumentum Holdings is back in the spotlight after a sharp reset in analyst expectations, with one updated fair value estimate moving from US$655.55 to US$773.35. That shift lines up with Street commentary that is increasingly focused on AI driven optical demand, larger customer commitments, and recent capacity and index inclusion news. As you read on, you will see how this evolving narrative, both bullish and cautious, can shape how you track Lumentum from here. Analyst Price Targets don't...
The U.K.'s cybersecurity chief warned that U.K. businesses and critical infrastructure are underestimating the threat from spyware attacks and other cyberthreats, with more governments having access to the powerful surveillance technology than ever.
The U.K.'s cybersecurity chief warned that U.K. businesses and critical infrastructure are underestimating the threat from spyware attacks and other cyberthreats, with more governments having access to the powerful surveillance technology than ever.
JHVEPhoto/iStock Editorial via Getty Images AllianceBernstein ( AB ) has shut its multi-manager fund AB Arya, a part of the asset manager's $6B hedge fund platform, Bloomberg News reported on Wednesday. A total of 95% of the liquidation proceeds are anticipated to be made available for distribution to clients in June, according to a statement sent to the media house. AB Arya's closure is another s...
JHVEPhoto/iStock Editorial via Getty Images AllianceBernstein ( AB ) has shut its multi-manager fund AB Arya, a part of the asset manager's $6B hedge fund platform, Bloomberg News reported on Wednesday. A total of 95% of the liquidation proceeds are anticipated to be made available for distribution to clients in June, according to a statement sent to the media house. AB Arya's closure is another sign of pressure on multistrategy hedge fund challengers after Eisler Capital shut in 2025, according to the report. More on AllianceBernstein AllianceBernstein Upgraded As Asset Managers Could See More Tailwind From Markets In 2026 AllianceBernstein Holding L.P. Limited Partnership Units 2025 Q4 - Results - Earnings Call Presentation AllianceBernstein Holding L.P. Limited Partnership Units (AB) Q4 2025 Earnings Call Transcript AllianceBernstein AUM slips 4.7% in March AllianceBernstein Q4 2025 Earnings Preview
Independent inquiry into Bristol Brunel Academy found visit by Damien Egan was postponed solely on safeguarding grounds An independent inquiry into a Bristol secondary school, which found itself at the centre of a media storm after postponing a visit by a local Jewish MP, has found no evidence of antisemitism or influence from lobby groups. Damien Egan, the Labour MP for Bristol North East and vic...
Independent inquiry into Bristol Brunel Academy found visit by Damien Egan was postponed solely on safeguarding grounds An independent inquiry into a Bristol secondary school, which found itself at the centre of a media storm after postponing a visit by a local Jewish MP, has found no evidence of antisemitism or influence from lobby groups. Damien Egan, the Labour MP for Bristol North East and vice-chair of Labour Friends of Israel, was due to visit Bristol Brunel Academy (BBA) last September to talk to students about democracy and his work in parliament. Continue reading...
Sooth Labs, a new artificial intelligence lab founded by former Meta Platforms Inc. employees, is raising about $50 million in funding to build AI models meant to help businesses forecast the likelihood of specific geopolitical and market events taking place. Felicis Ventures is set to lead the round, which would value the startup at roughly $335 million, including the money raised, Sooth’s co-fou...
Sooth Labs, a new artificial intelligence lab founded by former Meta Platforms Inc. employees, is raising about $50 million in funding to build AI models meant to help businesses forecast the likelihood of specific geopolitical and market events taking place. Felicis Ventures is set to lead the round, which would value the startup at roughly $335 million, including the money raised, Sooth’s co-founders told Bloomberg News. The company has also secured backing from Yann LeCun , a former Meta executive and an AI pioneer, as well as from Google Chief Scientist Jeff Dean . Meta Chief Technology Officer Andrew Bosworth is advising the firm. Financial institutions, including banks and insurance companies, commonly use forecasting algorithms that combine statistical models with machine learning techniques. Sooth aims to do better by training its models on large cross-industry datasets, including data owned by its clients, and allowing that information to be easily queried. It’s also working to develop its models with a mix of inputs, including video, audio and text. In a demonstration, Sooth’s software let the user query the probability of specific events happening, including the likelihood that the World Health Organization declares another pandemic by 2028 (16%) and that Anthropic PBC goes public this year (33%). The Pittsburgh-based startup wants to enable businesses to make better decisions in areas like capital allocation and risk management, said Chief Executive Officer Yaser Sheikh. The company said it’s in discussions with potential customers in finance, defense, insurance and real estate. Sooth’s team includes Ruslan Salakhutdinov, a Carnegie Mellon University professor, and disciple of AI godfather Geoffrey Hinton . Salakhutdinov, frequently cited for his research in deep learning, served as Apple’s first director of AI research before moving on to conduct AI research at Meta. Sheikh is a consulting professor at Carnegie Mellon and previously served as a vice pre...
lechatnoir Wall Street's major averages were higher on Wednesday as U.S. President Donald Trump announced an extension to the ceasefire deadline with Iran while citing deep divisions within Tehran’s leadership. The benchmark S&P 500 ( SP500 ) was last +0.8%, while the Nasdaq Composite ( COMP:IND ) was +0.9%, and the blue-chip Dow ( DJI ) was +0.9%. Over in the bond market, the benchmark 10-year Tr...
lechatnoir Wall Street's major averages were higher on Wednesday as U.S. President Donald Trump announced an extension to the ceasefire deadline with Iran while citing deep divisions within Tehran’s leadership. The benchmark S&P 500 ( SP500 ) was last +0.8%, while the Nasdaq Composite ( COMP:IND ) was +0.9%, and the blue-chip Dow ( DJI ) was +0.9%. Over in the bond market, the benchmark 10-year Treasury yield ( US10Y ) was 2 basis points lower at 4.28%, while the 2-year Treasury yield ( US2Y ) rose 1 basis point to 3.79%. Trump said on Tuesday that the U.S. would extend its ceasefire with Iran, citing deep divisions within Tehran's leadership. He also said this ceasefire would remain in place until a coordinated plan for an end to the war, which would include Israel, was brought forward. However, the ongoing blockade is expected to continue. In addition, Trump reportedly said negotiation could take place once again as soon as Friday , according to The New York Post. Previously, Vice President JD Vance had called off a planned trip to Pakistan until further notice, casting doubt on last-minute ceasefire negotiations between the U.S. and Iran, according to a media report. Crude oil futures ( CL1:COM ) surged to $91, while Brent ( CO1:COM ) also rose to $100 per barrel. In other news, Bitcoin ( BTC-USD )—currently at around $78,800—touched a 10-week high, as market sentiment improved. On the U.S. economy, the A tlanta Fed Business Inflation Expectations rose higher than expected in March. More on the markets A New Era For The Fed? Looking Back On Kevin Warsh's U.S. Senate Hearing And Market Reactions Warsh Testimony Dow Jones And U.S. Stock Market Outlook - Fed's Warsh And Ceasefire-End Trigger Market Double Tops Iran rejects second round of U.S. talks, cites ‘excessive’ American demands
Microsoft (NasdaqGS:MSFT) is facing a mass lawsuit in the UK that alleges it overcharged for Windows Server licenses on rival cloud platforms. A London tribunal has authorized the class action, which could cover nearly 60,000 UK businesses using Windows Server outside Azure. The case emerges as Microsoft promotes new AI and industrial platform partnerships that are being showcased in connection wi...
Microsoft (NasdaqGS:MSFT) is facing a mass lawsuit in the UK that alleges it overcharged for Windows Server licenses on rival cloud platforms. A London tribunal has authorized the class action, which could cover nearly 60,000 UK businesses using Windows Server outside Azure. The case emerges as Microsoft promotes new AI and industrial platform partnerships that are being showcased in connection with Hannover Messe 2026. For investors considering Microsoft at a share price of $424.16, this...