Solel Partners, these big money people, trimmed their Brightstar stake by 624,800 shares. Six hundred and twenty-four thousand. It’s a number. A big one. They still have some, $43.27 million worth, but they decided that was…enough. Or too much. Who knows? The whole thing is just…opaque. It’s like they’re deliberately trying to make it confusing. And of course, the stock is down 26% over the year. Because, naturally.
I’m not saying Nvidia is a bad investment. It’s just… predictable. Like ordering the chicken at a wedding. Safe. And when everyone’s doing the same thing, the real opportunity tends to hide in plain sight. So, I’ve been poking around, and two companies have caught my eye. They’re both reporting on the 26th, and if I’m being honest, I have a slightly irrational fondness for underdogs. It probably stems from being the youngest of five siblings.
Still, down about 15% year-to-date? That’s a proper tumble. Makes you wonder if this bounce is a genuine recovery, or just a desperate attempt to look like it isn’t sinking.
The particulars are these: 181,700 shares, a precise quantity, as if plucked from the ether. This addition represents 2.34% of Solel’s reportable AUM – a fragment, really, in the vastness of their holdings. Yet, it is the choice that intrigues. A foray into the world of eggs, of all things. One imagines the analysts, young men in crisp shirts, presenting charts and graphs, attempting to justify this… pastoral investment. Perhaps they spoke of protein, of breakfast habits, of the enduring appeal of the simple egg. Or perhaps, it was merely a whim, a gesture against the prevailing winds of technological speculation.
The initial bulletin, the one causing the current disquiet, concerns the failure to achieve a statistically significant reduction in Stage III-IV cancers. A nuance, perhaps lost on the more excitable elements of the market, is the ‘favorable trend’ observed in a pre-specified cohort of twelve particularly deadly varieties. A trend, however, does not pay dividends. Nor, one imagines, does it inspire confidence in those tasked with allocating substantial sums.
Tech (XLK), that paragon of innovation, leads the rebound on tariff relief, while Energy (XLE), the eternal contrarian, surrenders its early gains despite oil prices’ relentless ascent. Alphabet (GOOGL), that digital colossus, surges 3.8%, attempting to escape a bearish pattern with the grace of a dancer dodging a storm.
It is a matter of proportion, of course. Core Scientific now constitutes a mere 0.49% of Paloma’s reportable U.S. equity assets. A small constellation in a vast, expanding universe. Yet, to dismiss it as insignificant would be to ignore the quiet drama unfolding within the digital mining landscape. The top holdings remain steadfast: NVDA at $9.88 million, AVGO close behind at $9.69 million, followed by INTC, AFRM, and TTWO – each a sturdy vessel navigating the same, often turbulent, waters.
Solel Partners isn’t just sprinkling a little fairy dust on a dying unicorn. This is a significant commitment. 7.06% of their portfolio, to be exact. That’s not “Oh, we had some spare change lying around.” That’s “We’ve done the spreadsheets, argued with the analysts, and decided this thing might not be totally doomed.” Their top holdings? UnitedHealth, Synchrony, CVS…and now, Braze. It’s like a well-balanced portfolio…with a side of hope.
Prior to the recent unpleasantness – the pandemic, naturally – Norwegian enjoyed a period of respectable returns. From its initial public offering in 2013 until 2020, it managed a commendable thirteen percent annualized return. Since then, however, the vessel has foundered. Over the last three years, total returns have limped to a mere thirty-five percent, while competitors Carnival Corp. and Royal Caribbean have positively soared, achieving returns of 181 and 333 percent respectively. Elliott, it seems, has taken a dim view of these results, and with some justification. The recent appointment of an internal candidate as Chief Executive Officer – a gesture of boardroom complacency, one suspects – appears to have been the final provocation.
While GLP-1 drugs address a specific metabolic pathway, Intuitive Surgical facilitates procedural innovation across a wide range of surgical specialties. As of year-end 2025, the company reported 11,106 installed da Vinci surgical systems globally, representing a 12% increase from the 9,902 units in operation at the end of 2024. Concurrently, the volume of procedures performed utilizing the da Vinci system rose 18% year-over-year, indicating sustained demand from both surgeons and patients. The less invasive nature of robotic surgery, coupled with the potential for improved clinical outcomes, continues to drive adoption.
