Donny DBM/iStock via Getty Images Fund Performance Review The fund finished the fourth quarter slightly ahead of the 2.19% advance of the Russell 2000® Index. Securities lending income, corporate action activity and security misweights due to certain benchmark securities that the Fund is restricted from buying all aided results this period. Efficient trading and implementation strategies also help...
Donny DBM/iStock via Getty Images Fund Performance Review The fund finished the fourth quarter slightly ahead of the 2.19% advance of the Russell 2000® Index. Securities lending income, corporate action activity and security misweights due to certain benchmark securities that the Fund is restricted from buying all aided results this period. Efficient trading and implementation strategies also helped limit fund transaction costs while replicating the exposures and characteristics of the index. U.S. small-cap stocks posted a gain in the fourth quarter, according to the Russell index, extending a historically fast rebound that began in early April, but at a slower pace. The advance has been supported by strong corporate fundamentals, a resilient economy, an ongoing boom in spending on artificial intelligence and the Federal Reserve's first interest-rate reductions since December 2024. Amid this favorable backdrop for higher-risk assets, the index closed the year just shy of its all-time high. Stocks entered October on an uptrend, but with the federal government in a shutdown that would last until November 12. On October 29, the central bank lowered its benchmark federal funds rate by 0.25 percentage points at its second consecutive meeting. The index gained 1.81% for the month, with the Fed pushing back against market expectations for a further rate cut in 2025. Momentum faded a bit in November (+0.96%), despite the continued shutdown and a brief mid-month sell-off that mostly reflected concern about an AI bubble. Meanwhile, the Fed cut rates by another quarter point on December 10. The index returned -0.58% for the month, a 12.81% gain for the year and a 42.37% increase since the low on April 8. In the fourth quarter, the index's narrow advance was driven by the defensive-oriented health care sector (+19%), which particularly shined in November. Materials (+5%) also delivered a solid gain. The growth-oriented communication services sector advanced 4%, led by telecommu...
(RTTNews) - Rio Tinto (RIO, RIO.L, RIO1.DE, RIO.AX) said its iron ore port operations have resumed after Tropical Cyclone Narelle passed over Western Australia's Pilbara region. Port closures at four Pilbara iron ore port terminals commenced on 24 March 2026. Ship loading at East
(RTTNews) - Rio Tinto (RIO, RIO.L, RIO1.DE, RIO.AX) said its iron ore port operations have resumed after Tropical Cyclone Narelle passed over Western Australia's Pilbara region. Port closures at four Pilbara iron ore port terminals commenced on 24 March 2026. Ship loading at East
A Thai undertaker’s extreme mission to prove he was not hoarding fuel went viral over the weekend after he brought a coffin containing a body to a petrol station to convince attendants the extra fuel he needed was for cremation, not black market resale. Thais have been pressed into energy-saving mode by the US-Israel war on Iran, which has throttled oil and gas supplies to much of Asia. Thailand’s...
A Thai undertaker’s extreme mission to prove he was not hoarding fuel went viral over the weekend after he brought a coffin containing a body to a petrol station to convince attendants the extra fuel he needed was for cremation, not black market resale. Thais have been pressed into energy-saving mode by the US-Israel war on Iran, which has throttled oil and gas supplies to much of Asia. Thailand’s Prime Minister Anutin Charnvirakul insists there is enough fuel for over three months, while the...
Four masked men entered Magnani Rocca Foundation villa, near Parma in northern Italy, and made off with artworks Thieves stole paintings by Renoir, Cézanne and Matisse from a museum in Italy a week ago, police have said. Four masked men entered the villa of the Magnani Rocca Foundation, near Parma in northern Italy, and made off with the artworks on the night of 22 March, a police spokesperson sai...
Four masked men entered Magnani Rocca Foundation villa, near Parma in northern Italy, and made off with artworks Thieves stole paintings by Renoir, Cézanne and Matisse from a museum in Italy a week ago, police have said. Four masked men entered the villa of the Magnani Rocca Foundation, near Parma in northern Italy, and made off with the artworks on the night of 22 March, a police spokesperson said, confirming a report on the Rai television network. Continue reading...
Keurig Dr Pepper ( KDP ) and JDE Peet’s ( JDEPF ) ( JDEPY ) Friday announced that their offer has become unconditional after 466.7 million shares - about 96% of the total - were tendered, valuing the deal at nearly €14.9 billion. According to the statement, offer for JDE Peet's successful; all offer conditions have been satisfied. Settlement of the offer will take place on 1 April 2026. More on Ke...
Keurig Dr Pepper ( KDP ) and JDE Peet’s ( JDEPF ) ( JDEPY ) Friday announced that their offer has become unconditional after 466.7 million shares - about 96% of the total - were tendered, valuing the deal at nearly €14.9 billion. According to the statement, offer for JDE Peet's successful; all offer conditions have been satisfied. Settlement of the offer will take place on 1 April 2026. More on Keurig Dr Pepper, JDE Peet's N.V. Keurig Dr Pepper: Despite The Business Transformation Risks, I Am A Buyer Keurig Dr Pepper: Rating Upgrade As The Setup Has Turned Favorable Keurig Dr Pepper Inc. (KDP) Q4 2025 Earnings Call Transcript Keurig Dr Pepper outlines low double-digit EPS growth and $25.9B–$26.4B revenue target for 2026 as JDE Peet's integration advances Keurig Dr Pepper rallies after earnings as JDE Peet's merger approaches
Tim Robberts/DigitalVision via Getty Images Elevator Thesis Energy stocks are running hot at the moment, and I am going to dissect Diversified Energy Company ( DEC ) in this piece. The company does not pursue growth through drilling or fast production. It acquires mature oil and gas wells and aims at extracting a steady cash flow over time. For context, Occidental Petroleum ( OXY ) is the traditio...
Tim Robberts/DigitalVision via Getty Images Elevator Thesis Energy stocks are running hot at the moment, and I am going to dissect Diversified Energy Company ( DEC ) in this piece. The company does not pursue growth through drilling or fast production. It acquires mature oil and gas wells and aims at extracting a steady cash flow over time. For context, Occidental Petroleum ( OXY ) is the traditional shale model. It expands through drilling, scales production, and moves vigorously with commodity cycles. Interestingly, DEC sits on the opposite side. It is less aggressive, more defensive, and designed to generate cash rather than increase volume. Not surprisingly, capital has returned to energy with elevated oil and gas prices. This trend is also backed by geopolitical tensions around the U.S.-Iran conflict and long-term issues with supply. DEC is benefiting, although less strongly. Its gas-heavy, hedged portfolio maintains the earnings, which also restricts the reactivity of the stock to strong commodity moves. Furthermore, there has been an improvement in momentum, with the stock climbing over 35% YOY as investors shift to cash-yielding energy names. At the same time, its model is financially driven by acquisition as opposed to organic growth. Adjusted FY 25 FCF was $440 million. This favored both dividends and balance sheet strength. To say the least, the dividend is at the center of the narrative and strengthens its income focus. The contrast is found in valuation. The forward GAAP P/E of DEC is roughly 36x, which is higher than the sector median of 16x. Basically, the market is not factoring in growth. It values stability, cash yield, and minimal acceleration of earnings. It is more of a yield and stability than a capital appreciation, and therefore, it gets a Hold rating from me. DEC’s Model Works but Caps Upside The figures already reflect what the model is doing. DEC Annual Performance (DEC 2025 Earnings Presentation) For FY 25, the production was at an averag...