Igor Kutyaev/iStock via Getty Images Dear Partners and Friends: The major indices we track all experienced a strong start to 2024. The market continued to be led by a small handful of tech companies propelling the Nasdaq to Q1 returns of 9.2% and the S&P 500 (SP500, SPX) of 10.4%. Smaller companies lagged once again….
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. 777 Partners has been accused by one of its lenders of a fraud running into hundreds of millions of dollars, in the latest setback for the Miami-based investment firm’s attempted takeover of Everton Football Club….
Brookfield Business Partners L.P. (NYSE:BBU) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Alan Fleming – Head, IRAnuj Ranjan – CEOAdrian Letts – Managing PartnerJaspreet Dehl – CFO Conference Call Participants Gary Ho – Desjardins Capital MarketsDevin Dodge – BMO Capital MarketsGeoffrey Kwan – RBC Capital MarketsNik Priebe – CIBC…
luismmolina Investment Overview Immatics (NASDAQ:IMTX), based in Tuebingen, Germany, achieved its Nasdaq listing in 2020, via a business combination with Arya Sciences Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by Perceptive Advisors. According to Harvard Business Review: A SPAC is a publicly traded corporation with a two-year life span formed with the sole…
tadamichi Investors, For the first quarter of 2024, Deep Sail Capital Partners (the “Fund”) returned 13.0% net of fees while averaging 84% net long exposure. Please consult your individual capital account statements for your individual net returns. In the first quarter, the fund outperformed our benchmarks, the Russell 2000 index and the Russell Mid-Cap Growth…
Image Source/DigitalVision via Getty Images From my experience, it’s always better to lock in a solid gain than to continue clinging on to an investment with the hopes of just a little more profit. This is a hard habit to break and one that I still fall prey to every so often. But one firm…
Henrik Sorensen/DigitalVision via Getty Images In our last coverage of NextEra Energy Partners, LP (NYSE:NEP), we talked mainly about everyone’s favorite breakfast item. Toast. Our take is that inflation will prove stickier than expected and even the normalization of the 3-month-10 Year Treasury relationship suggests a 5.5% 10 year note. If that outlook comes to…
Hiroshi Watanabe/DigitalVision via Getty Images If we have learned anything from the past year’s market behavior, it is that very few predictions turn out to be helpful. The market goes up when you expect it to go down, and vice versa. But one thing is sure, eventually the market corrects, sometimes dramatically. When it does,…
undefined Introduction As Dynagas LNG Partners (NYSE:DLNG) hasn’t paid a dividend on its common shares since 2019, I have been focusing on the preferred shares. One of the two series of preferred shares recently moved from a fixed rate to a floating rate preferred dividend. As the preferred dividends remain very well-covered and as the…
bymuratdeniz/iStock via Getty Images The Magnificent Roaring ’20’s “It’s a bull market, you know.” – Jesse Livermore. Reminiscences of a Stock Operator. “The job of sustainably restoring 2 percent inflation is not yet done…the higher inflation data over January and February were above the low readings in the second half of last year…We do not…
Graphic designer/iStock via Getty Images Performance Review As of March 31st, 2024 NAV increase, net Cum Incept PF 2019 2020 2021 2022 2023 1Q/24 WBCP 82.04% 17.60% 19.05% 37.16% (15.38%) 8.38% 3.36% S&P 400 66.88% 5.72% 13.66% 24.76% (13.06%) 16.45% 9.96% Click to enlarge Inception of White Brook Capital Partners was August 16, 2019 Performance…
HAYKIRDI Rather than its usual Analyst Day held at its Houston headquarters, Enterprise Products Partners L.P. (NYSE:EPD) hosted a short, one-hour update call on April 3. I always recommend people at least read through the Analyst Day slide deck or try to catch part of the calls, as Enterprise often does an impressive job of…
PM Images Brookfield Infrastructure Partners L.P. (NYSE:BIP) is a promising passive income investment with an international profile, a diversified portfolio, resilient FFO and a low FFO payout ratio. The focus on owning and operating regulated infrastructure assets leads to long-term FFO visibility, and the company has delivered impressive distribution growth over the last decade. Brookfield…
hirun Summit Midstream Partners (NYSE:SMLP) is a company we discussed recently as a valuable investment, with a strong portfolio of assets. However, we also highlighted the company’s debt load as a risk. Since then, the story has changed. The company announced the sale of its Utica shale midstream assets for $625 million to longtime partner…
VioletaStoimenova H2 2023 Results During the second half of 2023, the Saga Portfolio (“the Portfolio”) increased 40.2% net of fees. This compares to the overall increase for the S&P 500 Index, including dividends, of 8.0%. For the full year 2023, the Portfolio increased 204.6% net of fees compared to the S&P 500’s 26.3%. The cumulative…
bjdlzx Energy stocks have recently entered a revival phase that lifted the Energy Select Sector SPDR® Fund ETF (XLE) toward its recent highs. The sector has benefited from the resurgence in crude oil futures (CL1:COM), shaking off the bearish sentiments that saw CL1 bottom in December 2023. Coupled with the persistence of the OPEC+ production…
DigiClicks What’s the ideal investment to meet the needs and preferences of retirees? Enterprise Products Partners (NYSE:EPD) would be my first choice. To begin with, it’s a great business with great management and a 25-year record which is unsurpassed in its category. Secondly, its earnings and distributions are steady and safe. Third, it’s cheap by…
wavemovies Introduction & Investment Thesis I initiated a Buy rating on Wix (NASDAQ:WIX) on February 16. My bull thesis was predicated on my belief that the company continues to drive strategic growth in its Partners business by launching Wix Studio, as well as rapidly innovating on its AI product offerings while expanding profitability. Since then,…
KE ZHUANG/E+ via Getty Images Brookfield Renewable Partners L.P. Limited Partnership Units (NYSE:BEP) offers a pure-play renewable energy exposure that is underpinned by a stable and predictable capital allocation strategy. The underlying strategy revolves around finding renewable energy projects, bringing them to operations (i.e., COD date) by the use of project finance, and then selling…
fotostorm Thesis Global Partners (GLP) is a U.S. Master Limited Partnership (‘MLP’) which functions as an owner, supplier and operator of gasoline stations and convenience stores. The MLP has seen its common shares rocket upwards in the past year, on the back of better than expected profitability and expansion plans: Data by YCharts As an…
MF3d Introduction With the FED meeting over now and 3 rate cuts still on the table by the end of the year, I think now is the time to be buying stocks in one of my favorite sectors (XLRE), the REIT sector. Historically, they move in the opposite directions of interest rates, and they have…
LQWD Technologies Corp., an infrastructure and liquidity provider for the Bitcoin Lightning Network, has announced a new partnership with Amboss Technologies Inc. to become their premiere Lightning Network Liquidity Service Provider (LSP), according to a press release sent to Bitcoin Magazine. As part of the partnership, LQWD will contribute an initial 10 Bitcoin in liquidity to…
Feverpitched I originally bought NextEra Energy Partners (NYSE:NEP) a bit too soon (last year on the dip before the big drop in late September). However, while several prominent authors on Seeking Alpha were calling it a Sell and/or urging investors to scramble for the exits, I doubled down in the low $20s and explained my…
JHVEPhoto/iStock Editorial via Getty Images Whether from a dividend or distribution, when a 9% yielder surfaces from research, it requires more investigation. Further scrutiny into CrossAmerica Partners LP (NYSE:CAPL) resulted in the verdict this relatively unknown, small MLP is a candidate for income seeking investors. As a distributor of fuel to gas stations, demand for…
matejmo Dear Partners, In Q4 2023, the Voss Value Fund, LP and the Voss Value Offshore Fund, Ltd., returned 19.4% and 18.6% to investors net of fees and expenses, respectively, compared to 14.0% total return for the Russell 2000 (RTY), 15.3% total return for the Russell 2000 Value, and 11.7% total return for the S&P…
Surgery Partners, Inc. (NASDAQ:SGRY) Q4 2023 Earnings Conference Call February 26, 2024 8:30 AM ET Company Participants Dave Doherty – Chief Financial Officer Wayne DeVeydt – Executive Chairman Eric Evans – Chief Executive Officer Conference Call Participants Brian Tanquilut – Jefferies Kevin Fischbeck – Bank of America Jason Cassorla – Citi Lisa Gill – JPMorgan…
Kimbell Royalty Partners, LP (NYSE:KRP) Q4 2023 Earnings Conference Call February 21, 2024 11:00 AM ET Company Participants Rick Black – IR Bob Ravnaas – Chairman & CEO Davis Ravnaas – President & CFO Blayne Rhynsburger – Controller Matthew Daly – COO Conference Call Participants Neal Dingmann – Truist Securities Jon Mardini – KeyBanc Capital…
Olena Ruban/Moment via Getty Images Introduction During 2021 cannabis stocks were the new hot ticket item in the market, but since then the burning fire surrounding them has seemed to cool. In turn, this has caused many of them to trade at attractive valuations currently. Especially, if you believe in the long-term outlook on the…
FutureBit, a leading provider of consumer-focused Bitcoin products, has unveiled its Higher Ed Pilot Programs in collaboration with universities across the United States, according to a press release sent to Bitcoin Magazine. This initiative marks one of the first instances of bringing Bitcoin hardware into academic settings, with Rutgers University Business School being among the…
Construction Partners Inc. (NASDAQ:ROAD) Q1 2024 Earnings Call Transcript February 9, 2024 10:00 AM ET Company Participants Rick Black – IR Jule Smith – President, CEO and Director Greg Hoffman – Senior VP & CFO Conference Call Participants Kathryn Thompson – Thompson Research Group Tyler Brown – Raymond James Andy Wittman – Baird Michael Feniger…
Vinci Partners Investments Ltd (NASDAQ:VINP) Q4 2023 Earnings Conference Call February 7, 2024 5:00 PM ET Company Participants Anna Castro – Investor Relations Manager Alessandro Horta – CEO, Director Bruno Zaremba – Chairman, Private Equity, Investor Relations Sergio Passos – COO & CFO Conference Call Participants William Bollingard – Itaú BBA Ricardo Buchpiguel – BTG…
MediaProduction/iStock via Getty Images Investment Rundown The past few months have been quite the rollercoaster for Capital Product Partners L.P. (NASDAQ:CPLP) as the stock price went from under $14 in late December to now nearly $18 in stock price. The reason seems to have come from increased hostilities in the Red Sea region which CPLP…
Vithun Khamsong/Moment via Getty Images Enbridge (NYSE:ENB) and Enterprise Products Partners (NYSE:EPD) are both well-known infrastructure players in the conventional energy space. Their focus is mostly in the mid-stream segment, which brings stable and predictable revenues. The contracts are usually underpinned by healthy and established bodies that help de-risk the top-line even further. When it…
Today, Volksbank Raiffeisenbank Bayern Mitte eG, a Bavarian cooperative bank with an ~130-year history, has entered into a long-term partnership with terahash.energy GmbH, according to a press release sent to Bitcoin Magazine. The Ingolstadt-based cooperative bank and the young startup, terahash, will collaborate on promoting topics related to Bitcoin and develop new offerings. “We are…
champpixs Investment Thesis Artisan Partners Asset Management Inc. (NYSE:APAM) just reported its Q4 numbers. I wanted to give an update on the company’s performance since my last coverage of the company, where I assigned it a buy, and since then the share price has appreciated 46% (dividends included) against the S&P 500’s (SPY) 24% appreciation….
imaginima Enterprise Products Partners (NYSE:EPD) announced last fall that they were going to take on debt to help take advantage of some opportunities for increased earnings growth. Mr. Market hated it, pushing down the stock price by 10%. The price has recovered lately, although some other midstream stocks have appreciated too. Seeking Alpha Since the…
Igor Kutyaev The Partners III Opportunity Fund’s Institutional Class (MUTF:WPOPX) returned +5.98% in the fourth quarter, compared to +12.07% for the Russell 3000. For the calendar year, the Fund’s Institutional Class returned +17.32%, compared to +25.96% for the Russell 3000. Strong performance across risk assets during the fourth quarter put an exclamation point on an…
artplus/iStock via Getty Images Dear Partners Alluvial Fund returned 3.2% in the fourth quarter, bringing our return to 15.1% for the full year. What a market turnaround this quarter saw. Spurred by a change in tone from the Federal Reserve, small-cap stocks snapped out of their doldrums and roared 22% higher in November and December….
Daniel Bosma/Moment via Getty Images Brookfield Renewable Partners (NYSE:BEP) has done well since we last recommended it in October. The company’s total return since has almost doubled the S&P 500, perhaps giving the illusion that the opportunity to invest has passed. Despite that recent strength, the company is well-positioned in a growing market, making it…
years/iStock via Getty Images Fund Characteristics P/V Ratio Mid-60s% Cash 8% # of Holdings 25 Click to enlarge Annualized Total Return 4Q (%) 1 Year (%) 3 Year (%) 5 Year (%) 10 Year (%) Since Inception (%) Global Fund 7.03 22.48 0.18 4.62 2.63 4.73 FTSE Developed 11.43 23.61 6.93 12.55 8.47 9.97 FTSE…
Jinda Noipho/iStock via Getty Images Fund Characteristics P/V Ratio High-60s% Cash 7.1% # of Holdings 24 Click to enlarge Annualized Total Return 4Q (%) 1 Year (%) 3 Year (%) 5 Year (%) 10 Year (%) Since Inception (%) International Fund 7.40 17.42 -1.82 2.32 1.32 6.12 FTSE Developed ex-North America 10.65 18.36 3.30 8.06…
CHAO-FENG LIN/iStock via Getty Images PORTFOLIO REVIEW We are pleased with the performance of the portfolios in 2023 and hope you are as well. For the year, all five of our investment strategies posted solid double-digit returns well ahead of inflation and beat their respective benchmarks. We are also pleased with our results in the…
howtogoto/iStock via Getty Images Q4 2023 2023 3 Year 5 Year Inception†Leaven Partners, LP* 2.3% 14.7% 22.0% 57.2% 36.8% S&P 500 (SP500) (SPX) 11.6% 26.2% 33.8% 109.0% 90.8% MSCI EAFE (EFA) 10.7% 18.4% 13.0% 48.6% 27.7% Vanguard Total World (VT) 11.2% 22.0% 19.0% 75.9% 54.1% Click to enlarge *Leaven Partners, LP are time-weighted gross…
The partnership is expected to reduce the risk of loss linked to liquidations when trader’s positions are undercollateralized. The Sui Foundation has partnered with off-chain data feed oracle Stork to provide traders and developers with fast pricing data. The Sui Foundation is the organization behind the layer-1 blockchain Sui and hopes to leverage Stork’s technology…
R.M. Nunes/iStock via Getty Images Vinci Partners (NASDAQ:VINP) is one of Brazil’s leading alternative asset managers. The company manages around BRL 65 billion in assets, a substantial portion of which is dedicated to private or long-term capital commitment strategies. I have followed Vinci since November 2021, and have recommended it in articles in June 2022,…
Baby Cannot Believe The 12% Yield Is Not Safe Shangarey/iStock via Getty Images On our last coverage of NextEra Energy Partners, LP. (NYSE:NEP) we made the case that investors will go through five stages of grief as they try and stay attached to this broken distribution growth story. While we had high confidence on how…
zhengzaishuru/iStock via Getty Images Kimbell Royalty Partners (NYSE:KRP) is now projected to have a quarterly distribution that averages in the mid-40s cents per unit in Q4 2023 and 2024 with a 75% payout ratio. This is a bit lower than the $0.51 per unit distribution for Q3 2023, due to weaker oil prices and increased…
sefa ozel/iStock via Getty Images Introduction LNG sector’s journey in 2023 was quite a bumpy ride due to the persistent weakness in prices. That left many companies grappling with their performance. Cheniere Energy Partners (NYSE:CQP), the operator of the Sabine Pass LNG Terminal in Cameron Parish, Louisiana, faced its fair share of challenges as its…
kyletperry Enterprise Products Partners (NYSE:EPD) has laid out a significant growth trajectory in the Permian Basin as they bring online their new gathering and processing systems in the Midland and Delaware Basins. Though the near-term outlook for the hydrocarbons industry looks flat for 2024, production growth in the basin creates a bright spot for firms…
Pgiam/iStock via Getty Images Partners Group (OTCPK:PGPHF) is probably a little expensive. There is a high probability of AUM growth, which we are comfortable assuming given AM dynamics. PEs are not too bad, with the fixed fees being pretty reliable given the state of the asset class. We have concerns around how recent 2021 investment…