A filing with the Securities and Exchange Commission, a document that feels less like a statement of fact and more like a plea for bureaucratic recognition, confirms the increase. Ashford now possesses 4.32% of the fund’s reportable U.S. equity assets in Vicor, a percentage that feels simultaneously significant and utterly meaningless. The larger context, the intricate web of interconnected holdings, is as follows:
Coeur, as it were, digs up gold (and silver, zinc, and lead, though the gold is the rather more glamorous pursuit). When gold deigns to rise, so too does Coeur’s stock. When gold decides to have a little lie-down, Coeur follows. Today, gold is having a decidedly off day, and Coeur is obligingly mirroring its mood – down 8% as of this morning. One almost feels sorry for the analysts trying to explain it.
Three companies currently occupy my attention, not because they’re cheap – the market rarely rewards sensible pricing – but because they’re at the heart of a peculiar form of modern alchemy: turning sand into… well, more sand, but sand that thinks. These are Nvidia (NVDA 1.29%), Taiwan Semiconductor (TSM 1.83%), and Broadcom (AVGO 0.11%). Nvidia currently trades at a relatively modest1 $190, while Taiwan Semiconductor is the priciest at around $375, with Broadcom hovering near $340. I suspect, barring any unforeseen goblin raids or sudden shifts in the cosmic balance, all three will exceed $500 per share within five years. A bold claim? Perhaps. But I deal in probabilities, not prophecies.
Despite the bulls honking their horns, intraday traders are acting like they’ve got a front-row seat to a pie-in-the-face show, betting SIREN’s gonna faceplant like a juggler dropping his pins. But hey, the momentum’s still got more pep than a spring-loaded whoopee cushion!
Two such cases come to mind, each with its own particular flavor of striving and, inevitably, compromise.
February 13th, 2026. A date that will live in…well, probably not history. But it’s the date Ashford decided to dip a toe in. A 1.4% allocation of their 13F assets. Which, let’s be honest, is roughly the amount I spend on oat milk each month. But still. It’s a signal. A tiny, flickering signal in the vast, chaotic wilderness of the stock market.
The adjustment sees Cavco Industries now representing a mere 1.87% of Ashford’s reportable assets, a decline from the prior quarter’s 3.1%. A shrinking stake, as if the fund is easing its grip, not necessarily in disapproval, but perhaps in a quiet acceptance of the inevitable. The larger holdings remain: Globalstar, Ligand, VICR, RDVT, and VTI, names that, to the uninitiated, are merely abbreviations, symbols of a world unseen. These represent $60.98 million, $40.42 million, $38.78 million, $34.33 million, and $31.46 million, respectively – sums that seem almost abstract, detached from any tangible reality.
The paperwork, filed with the SEC (a place where grown-ups make everything frightfully official), revealed this little transaction. They’d held onto Globalstar like a child clinging to a particularly sticky sweet, but now they’ve loosened their grip. At the quarter’s end, they still possessed 998,995 shares – a substantial pile, worth $60.98 million. The net change? A bit of a wobble, an increase of $9.69 million reflecting both the shares sold and the price doing a little jig.
The company has demonstrated growth – a 104% increase over three years – but has also experienced a recent decline of 30% from its peak. This dip, as is frequently the case, has prompted calls to “buy the dip.” A closer examination suggests a more nuanced perspective is required.
The filing with the Securities and Exchange Commission, dated February 13, 2026, reveals this discreet withdrawal from the world of branded apparel. The sum, while substantial, is merely a rounding error in the grand ledger of modern finance. The fund’s remaining stake, valued at $77.44 million, represents a slight diminution from the previous quarter, a gentle ebb in the tide of investment. It is a lesson, perhaps, that even the most durable of brands are subject to the whims of fashion, and the even more capricious nature of the market.