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The esteemed firm of No Street GP LP, in a filing most politely submitted to the U.S. Securities and Exchange Commission, disclosed their reduction in the shares of Chart Industries (GTLS +0.01%). This diminution, amounting to 565,000 shares, left them with a modest 375,000 shares, valued at £75.1 million by quarter’s end. Their interest, one observes, constituted precisely 11.4% of their AUM-a figure that, while not ostentatious, speaks volumes of their discerning allocation.

The fund’s latest maneuver, revealed in an SEC filing, was less a triumph than a gamble. Darling, a company that once promised to turn waste into wealth, now resembles a factory where the machinery creaks and the workers shuffle in silence. The fund’s stake-4.6% of its $1.5 billion portfolio-was a calculated risk, a bet that the market’s appetite for “sustainable” ventures might yet revive the corpse of a struggling industrial giant.

In a move that no one quite saw coming (except possibly the hedge fund manager who’s also a professional clairvoyant), Solel Partners LP decided to take a sizable stake in First American Financial (FAF). The purchase, valued at a cool $29.6 million as of September 30, now represents a sizeable chunk-5.7%-of their reportable U.S. equity holdings. While the transaction itself might not set off fireworks in the financial world, it does raise a few eyebrows-because, as you may well know, $29.6 million doesn’t just fall out of the sky unless you’re a certain kind of investor. The filing, as is customary, was delivered with the pomp and circumstance of a standard SEC submission on Friday afternoon.

Solel Partners LP filed its quarterly report like a man filing his taxes-because it had to. The numbers? 745,900 shares of Braze, a 4.1% slice of its $519.8 million in reportable assets. September 30 came and went. The market didn’t notice. The stock did.

Both are Vanguard’s kids, but they fight in different rings. MGK’s all in on the tech giants-the ones who build empires in the dark. VOO’s got its fingers in every pie, from finance to food. One’s a high-roller’s dream. The other’s a long-hauler’s bet. Let’s see which one’s got the edge-and which one’s playing with matches.