According to an SEC filing dated Feb. 17, 2026, RTW Investments disclosed a new position in iRhythm Holdings (NASDAQ:IRTC) after acquiring 1,181,990 shares during the fourth quarter. The fund’s quarter-end position in IRTC was valued at $210 million. iRhythm Holdings, Inc. is a digital healthcare company specializing in innovative cardiac monitoring solutions. Its core offering, the Zio platform, ...
According to an SEC filing dated Feb. 17, 2026, RTW Investments disclosed a new position in iRhythm Holdings (NASDAQ:IRTC) after acquiring 1,181,990 shares during the fourth quarter. The fund’s quarter-end position in IRTC was valued at $210 million. iRhythm Holdings, Inc. is a digital healthcare company specializing in innovative cardiac monitoring solutions. Its core offering, the Zio platform, leverages wearable biosensors and advanced analytics to improve arrhythmia detection and diagnosis. RTW Investments isn't a generalist fund making a casual bet -- it's a specialized healthcare and life sciences investor with deep sector expertise, which makes this move worth a closer look. Opening a brand-new position of this size signals real conviction: at roughly $210 million, the IRTC stake becomes RTW’s eleventh-largest holding -- representing about 2.1% of the fund's total 13F-reported portfolio -- a meaningful commitment from a manager that already holds concentrated positions in names like Madrigal Pharmaceuticals (NASDAQ:MDGL) and Insmed (NASDAQ:INSM) . Continue reading
8vFanI/iStock via Getty Images The private credit market has been hit hard, but Capital Southwest ( CSWC ) still trades near the highs. As with most other related stocks, the BDC, business development company, hasn't faced any real credit issues to warrant major stock weakness. My investment thesis is Neutral on the stock trading above NAV and far above the dip last October suggesting investors re...
8vFanI/iStock via Getty Images The private credit market has been hit hard, but Capital Southwest ( CSWC ) still trades near the highs. As with most other related stocks, the BDC, business development company, hasn't faced any real credit issues to warrant major stock weakness. My investment thesis is Neutral on the stock trading above NAV and far above the dip last October suggesting investors remain diligent and patient. Source: Finviz Strong History Capital Southwest has operated as a BDC since 1988 and primarily finances transactions backed by private equity firms. The typical investment is amongst diverse industries and geographic regions in companies with an EBITDA between $3 and $25 million. The typical loan leverage is 2.5x to 4.5x EBITDA with a loan-to-value of 25% to 50%. The loans are normally floating rate first liens, so Capital Southwest does face interest rate risk on any Fed rate cuts, though JPMorgan's chief U.S economist forecasts the Fed will not cut rates this year . The BDC reported FQ3'26 total investment income of $61.4 million, with $4.6 million coming from PIK. The market is increasingly worried about such payment in kind income, where the company issues shares or adds interest to the debt balance versus paying cash interest as a sign of credit issues. Source: Capital Southwest FQ3'26 presentation Capital Southwest obtains 93% of investment income from cash via interest and dividends, with 90% recurring. The stock has probably held value due to the limited PIK risk. The company has only seen limited credit issues, with just 1.5% of the loan portfolio in non-accrual. Capital Southwest estimates roughly 90% of the $1.8 billion loan portfolio is performing as expected or better, with only $29.6 million of loans in the high-risk categories. Due to the BDC classification, Capital Southwest has to return the majority of income to shareholders. The firm earned $0.60 of pre-tax net investment income during the quarter and paid out $0.64 in dividends...
Andrzej Rostek/iStock via Getty Images O stock: previous thesis and new developments I last covered Realty Income Corporation ( O ) stock on Feb. 7 with an article titled “Realty Income: Wall Street Finally Came To Its Senses.” The article was triggered by the sentiment shift from Wall Street ratings and rated the stock as a Buy. Since then, a few new catalysts have evolved both in terms of macroe...
Andrzej Rostek/iStock via Getty Images O stock: previous thesis and new developments I last covered Realty Income Corporation ( O ) stock on Feb. 7 with an article titled “Realty Income: Wall Street Finally Came To Its Senses.” The article was triggered by the sentiment shift from Wall Street ratings and rated the stock as a Buy. Since then, a few new catalysts have evolved both in terms of macroeconomic parameters and also company specifics. In the remainder of this article, I will focus on the top one change in each category as I see it: 1) the changes (aka increase) in both treasury and corporate bond rates and 2) the financials the company updated in its FQ4 2025 earnings report (ER). After examining these changes, I will explain why O still offers an attractive reward/risk curve. In particular, I will show why the stock is still attractive using the framework Benjamin Graham developed for picking defensive stocks, which can be particularly timely amid the market and geopolitical turbulence ongoing. To prime the rest of the discussion, let me start with a brief recap of the FQ4 ER for readers unfamiliar with the numbers. The company released its ER on Feb. 24, 2026. As shown in the snapshot below, the results were a bit mixed , with FFO missing consensus and revenue slightly above consensus. Furthermore, the company keeps reporting a tempered pace of growth. In the past quarter, YOY revenue growth remained in the single-digit range (9.37%), a far cry from the double-digit rates the company enjoyed for years. With this background, next I will argue 1) why I keep seeing a tempered growth rate ahead, but 2) the stock already offers worthwhile total return potential even if growth rates remain in the single digits. Seeking Alpha O stock: REITs and Rates The top reasons that caused me to see tempered growth are twofold. Firstly, I see large odds for elevated interest rates in the near future with the latest inflation data, the Fed’s latest dot plot, and also the pote...
Donald Trump has branded the UK and other Nato allies “cowards” but anger is growing among cabinet ministers that his war in Iran could jeopardise Britain’s fragile finances. Senior members of the government are in despair about the potential effects on the economy, with experts warning of higher energy prices and mortgage and borrowing costs. They have already begun contingency planning in case t...
Donald Trump has branded the UK and other Nato allies “cowards” but anger is growing among cabinet ministers that his war in Iran could jeopardise Britain’s fragile finances. Senior members of the government are in despair about the potential effects on the economy, with experts warning of higher energy prices and mortgage and borrowing costs. They have already begun contingency planning in case the conflict is protracted, including considering lowering speed limits to minimise fuel consumption. With the conflict continuing to escalate, the UK confirmed it was authorising the use of British military bases to strike Iranian missile launchers that are targeting commercial ships in the strait of Hormuz. Previously, UK bases were only being used to strike Iranian sites targeting British allies and interests in Gulf states. But the change is unlikely to make a significant difference to the conflict, leaving ministers scrambling to map out worst-case scenarios for the economy. The Treasury has set up an “Iran board” of ministers and officials that is considering a range of potential options, which government sources say include a universal bailout for energy bills. This would be a “last resort” if global prices remain high. There is anger among some ministers towards Trump, who posted on Truth Social on Friday that Nato allies were “cowards” for refusing his calls to help reopen the strait of Hormuz, claiming it would be “so easy for them to do, with so little risk”. No 10 declined to comment on the insult. The prospect of a global energy shock and further increases to the cost of living comes at a critical time for Keir Starmer and Rachel Reeves in the run-up to May’s local elections, when the government had hoped to emphasise the improving economy. Reeves, the chancellor, is now facing pressure on multiple fronts as the cost of government borrowing rose to its highest level since the 2008 financial crisis on Friday, and analysts said the markets are predicting interest ...
Israeli Prime Minister Benjamin Netanyahu rejected accusations on Friday that he had intended to offend Christians when he said the previous day that Jesus had “no advantage” over Genghis Khan. “More fake news about my attitude towards Christians, who are protected and flourish in Israel. Let me be clear: I did not denigrate Jesus Christ at my news conference,” Netanyahu wrote in English on social...
Israeli Prime Minister Benjamin Netanyahu rejected accusations on Friday that he had intended to offend Christians when he said the previous day that Jesus had “no advantage” over Genghis Khan. “More fake news about my attitude towards Christians, who are protected and flourish in Israel. Let me be clear: I did not denigrate Jesus Christ at my news conference,” Netanyahu wrote in English on social media. “To the contrary, I cited the great American historian Will Durant. A fervent admirer of Jesus Christ, Durant stated that morality by itself is not enough to ensure survival,” he added. Advertisement “A morally superior civilisation may still fall to a ruthless enemy if it does not have the power to defend itself. No offence was meant,” he said. On Thursday evening, the prime minister had said during a televised meeting with the foreign press that “history proves that, unfortunately and unhappily, Jesus Christ has no advantage over Genghis Khan because if you are strong enough, ruthless enough, powerful enough, evil will overcome good”. 03:29 US-Israel war on Iran is as reckless and catastrophic as it is stupid and illegal US-Israel war on Iran is as reckless and catastrophic as it is stupid and illegal “Aggression will overcome moderation. So you have no choice,” he added, quoting Durant.
The second death of Cesar Chavez and his legacy toggle caption Les Lee/Getty Images/Hulton Archive A version of this essay first appeared in the Up First newsletter. Subscribe here so you don't miss the next one. You'll get the news you need to start your day, plus a little fun every weekday and Sundays. My phone kept going off on Wednesday afternoon with texts from different friends — each wantin...
The second death of Cesar Chavez and his legacy toggle caption Les Lee/Getty Images/Hulton Archive A version of this essay first appeared in the Up First newsletter. Subscribe here so you don't miss the next one. You'll get the news you need to start your day, plus a little fun every weekday and Sundays. My phone kept going off on Wednesday afternoon with texts from different friends — each wanting to trade thoughts on what felt like the second death of Cesar Chavez. His first death happened on April 23, 1993. He was 66 and died of natural causes. Over 50,000 people attended his funeral in Delano, Calif. And he was posthumously awarded the Presidential Medal of Freedom in 1994. Sponsor Message At that time, I was in elementary school in suburban Chicago, far from California. It was then that I first learned of Chavez and his movement's hard-fought efforts to secure better wages and improved working conditions for farm workers. As a daughter of janitors and a factory worker, I knew what better pay and the right to a union meant for people like us. Chavez's second death landed on Wednesday after a The New York Times investigation revealed he had been accused of sexual abuse and rape . NPR has not independently confirmed the allegations against Chavez in the Times investigation. For several years before joining Morning Edition as an editor, I covered sexual violence for ProPublica , an investigative newsroom. My work there was often not about catching the bad guys but rather about listening, for extended periods of time, to the people they hurt. This work took me to places such as Alaska and Utah where I met a broad range of people who were assaulted in recent years and some, who like Huerta , never spoke of their experiences for decades. Consistent with national statistics , the perpetrators whom I wrote about were often family, bosses, clergy or others in positions of power. toggle caption JC Olivera/Getty Images for State of the Ar/Getty Images North America This we...
Honeywell (HON 3.63%) stock slipped 3.8% through 2:50 p.m. ET Friday after announcing it will pay off about $7.6 billion worth of its dollar- and euro-denominated debt. Honeywell had earlier offered to repurchase debt through a tender offer. Today's news concerns the result of that tender offer. What's Honeywell up to here? Specifically, Honeywell said it will redeem a total of $4.67 billion worth...
Honeywell (HON 3.63%) stock slipped 3.8% through 2:50 p.m. ET Friday after announcing it will pay off about $7.6 billion worth of its dollar- and euro-denominated debt. Honeywell had earlier offered to repurchase debt through a tender offer. Today's news concerns the result of that tender offer. What's Honeywell up to here? Specifically, Honeywell said it will redeem a total of $4.67 billion worth of dollar-denominated debt. (Lenders had tendered more than $7.2 billion, but $4.67 billion was the most Honeywell was prepared to pay off.) A further 2.49 billion of debt denominated in euros ($2.9 billion) was further tendered for redemption. The debt redeemed ranged from 1.75% to 9.06% in terms of the interest it paid, with due dates ranging from as near as 2027 to as late as 2064. Honeywell announced 10 days ago that it was issuing $16 billion in senior notes, amassing cash as it prepares to spin off its aerospace business. The notes described in that press release pay interest rates ranging from 3.9% through 5.85%, with due dates ranging from as early as 2028 to as late as 2056. Most of the new debt, though, tends to be longer dated, coming due only 10 to 30 years from now. Expand NASDAQ : HON Honeywell International Today's Change ( -3.63 %) $ -8.31 Current Price $ 220.72 Key Data Points Market Cap $146B Day's Range $ 219.83 - $ 229.50 52wk Range $ 168.99 - $ 248.18 Volume 4M Avg Vol 4.1M Gross Margin 37.99 % Dividend Yield 1.97 % What this means for Honeywell Paying off debt is generally considered a good thing. Problem is, Honeywell isn't so much paying off debt as simply rolling it over -- and not necessarily, or not entirely, at more attractive interest rates. Especially in light of recent events (yes, I mean Iran and the Strait of Hormuz), and their potential to push interest rates higher, investors may have preferred that Honeywell hang onto its new cash a bit longer before using it to roll over old debt.