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For five years, the shares of this venerable institution have offered a yield, a regular pulse of income, but one shadowed by a declining price – a bittersweet offering, like a ripe mango touched by frost. The S&P 500, meanwhile, has surged, a relentless tide lifting all boats, while Western Union has remained tethered, a lonely galleon in a sea of progress. But to assume this languor will persist is to misunderstand the enduring power of habit, the deep-seated trust built over generations, and the subtle currents that shift beneath the surface of financial markets.

Yet, as with all theatrical productions, the curtain has risen and fallen upon a most uneven performance. The year 2025 saw a spirited ascent, a veritable rocket launch of enthusiasm, only to be abruptly grounded by a broader sell-off amongst those who dabble in the atom’s power. The final tally? A modest decline of 3.5%, leaving Nano trailing behind both the venerable S&P 500 and the VanEck Uranium and Nuclear ETF [NLR 0.09%]. A humbling experience, to be sure.

It is immediately apparent that Vanguard, with its considerably lower annual charge, presents a more economical proposition. One cannot help but observe that a prudent management of expenses is, after all, the very foundation of a secure future. Fidelity, however, boasts a higher dividend yield, a feature which may appeal to those who prioritize immediate income, though one must always question whether such advantages are not purchased at a corresponding degree of risk.

Then we have Nike (NKE 0.72%). A name everyone knows, like a particularly bossy headmaster. They make the shoes, the shirts, the whole kit and caboodle. But even headmasters have their off days, and Nike, it seems, is currently having a bit of a wobble. A rather expensive wobble, if you ask me.

The prevailing optimism regarding this company’s prospects extending into 2026 is not unwarranted, though it demands a degree of circumspection. The company appears to be positioned to benefit from a specific, and rapidly expanding, need.

On January 22nd, a filing with the SEC revealed that DDD Partners engaged in a bit of share shedding, parting ways with 125,198 shares of HF Sinclair. The estimated transaction value, based on the aforementioned quarterly average, was $6.45 million. The firm’s overall position, however, experienced a more substantial decline – $8.37 million – which includes both the aforementioned sales and the unpredictable whims of market valuation. (Market valuation being, of course, a complex algorithm based on hope, fear, and the occasional rogue pigeon.)

Iridian, it seems, has acquired 1,108,301 additional shares of ACV Auctions, bringing their total stake to a rather robust $23.97 million. A significant commitment, particularly when one considers the prevailing atmosphere of gloom. The market, you see, is frightfully predictable in its panics. It mistakes a temporary inconvenience for a permanent catastrophe. And ACV Auctions, currently trading at a mere $8.62 – a decline of nearly 60% from its former glory – is currently the object of its disdain.

Rambus, it appears, has discovered the virtues of belated adaptation. Where once it pursued a singular vision, it now caters to the insatiable demands of the data centre and, naturally, the all-consuming deity of Artificial Intelligence. This pivot, while hardly original, has proven remarkably effective. The company now derives a substantial 75% of its revenue from chips and intellectual property related to these burgeoning sectors, a figure that has propelled product revenue upwards at a respectable 28% annual pace since 2019. A triumph of pragmatism, one might venture.

Chipotle and Cava also offer things grown from the earth, more or less. But Sweetgreen insists on a certain… earnestness. They’ve even dabbled in robots, thinking automation could solve the fundamental human problem of wanting things done for them. A noble, if misguided, effort.

The rather crucial point, and one that even the most cynical observer must concede, is that ASML’s role in the global chip industry is, shall we say, significant. These extreme ultraviolet (EUV) lithography machines of theirs – frightfully complicated things, I’m told – are what allow one’s customers to manufacture advanced chips. Chips that, rather conveniently, deliver strong computing performance with high power efficiency. A useful combination, wouldn’t you agree?