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The filings reveal an increase in their holding, bringing the total to nearly 18% of their portfolio. Eighteen percent! That’s a considerable portion of a fund tethered to the whims of vacationers. It’s a testament to their conviction, or perhaps, a lack of imagination for more substantial endeavors. The valuation has risen by $5.14 million, a phantom increase built on promises of sun-drenched resorts and carefully curated experiences. It’s a house of cards, beautifully constructed, but still…cards.

Anthropic PBC, purveyors of the rather unimaginatively named Claude, have announced a new feature – a code security scanner. It promises to identify vulnerabilities and suggest remedies. The very notion that one can patch security with software is, frankly, charmingly naïve. It’s akin to believing one can inoculate against folly. Still, the market, ever susceptible to a glittering distraction, has reacted as if a new god has descended.

The appointment of Mr. Kaz Nejatian as Chief Executive, following his tenure at Shopify, has evidently introduced a degree of purposeful direction. One could scarcely expect an immediate transformation, of course, but his declared strategy – a four-step plan, no less – has begun to bear fruit. To reach a state of breakeven adjusted net income by the end of 2026, whilst simultaneously increasing transaction velocity and cultivating direct relationships with purchasers, is an ambition that demands both skill and, one might add, a certain degree of optimism.

The aforementioned Breach Inlet, according to a filing with the Securities and Exchange Commission, divested itself of all 263,962 shares in United Parks during the final quarter of the previous year. A rather significant sum vanished from their portfolio, wouldn’t you agree? It’s the sort of thing that gives one a slight headache just contemplating it. The fund’s holdings in PRKS, as the stock is rather tersely known, dwindled to precisely zero, a state of affairs that suggests a distinct lack of enthusiasm for the future prospects of aquatic mammals and thrilling rollercoasters.

The company, which offers communication solutions tailored for healthcare practices, announced its final figures for 2025. Revenue reached $63.4 million, a respectable increase of seventeen percent over the previous year. Profitability, however, lagged behind. Net income, measured according to those accounting conventions we all pretend to understand, rose a more modest eight percent, to $2.6 million, or three cents per share. A tidy sum, certainly, but hardly enough to set the world alight.

The truly discerning investor, however, does not chase the fleeting mirage of hype. They observe the currents beneath the surface. The current sell-off, while dramatic to the uninitiated, merely exposes the underlying truth: software, in its current form, is becoming… common. The real opportunity lies in those facilitating the infrastructure upon which this digital ambition is built. To focus solely on the brilliant minds crafting the algorithms is to mistake the portrait for the painter.

DNOW, you see, has recently swelled in size, having absorbed the pipes, valves, and fittings emporium known as MRC Global. A merger, they call it. I call it a chaotic joining of disparate souls, a bureaucratic ballet performed on a tightrope of spreadsheets. The revenue, predictably, nearly doubled, leaping from a modest 571 million to a rather imposing 959 million. But such figures, while impressive to the uninitiated, are mere illusions, phantoms conjured by accounting trickery and the relentless pursuit of growth. One must always ask: at what cost?

The trading volume reached 45.8 million shares, a figure 151 percent above the three-month average of 18.2 million. Such activity is not indicative of informed long-term investment, but rather a predictable flurry of speculation. The company, having gone public in 2011, has lost 88 percent of its initial value. This prior performance, conveniently overlooked in recent reports, should serve as a sobering reminder.

I’ve been creating spreadsheets. Lots of spreadsheets. It’s strangely soothing. It gives the illusion of control. Here’s what they say. Assuming, of course, that everything goes exactly according to plan. Which, let’s be honest, it won’t.

Nvidia’s transition from a provider of graphics processing units (GPUs) primarily for the gaming market to a dominant force in AI-driven data center solutions represents a notable case study in strategic adaptation. The company’s GPUs have become essential for both the training and operational phases of sophisticated AI models. However, the current valuation—reflecting a substantial market capitalization—necessitates a rigorous assessment of future growth prospects. While analysts project an annualized earnings growth rate of 46% over the next several years, the sustainability of such a pace remains contingent upon continued technological leadership and the absence of significant competitive pressures.