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Thursday, October 29, 2026

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@Mr_Neutral_Man

Mr Neutral Man aka "Howard Marks of REITs” on X

I have consistently talked about buying $CUBE in the past year and highlighted their incredible NYC/NNJ portfolio It accounts for 1/4 of the company's NOI, up 5.5% in Q3 on a YOY basis. Moves the needle. Overall NOI up 2.1% YOY High barrier, no rent regs like housing, truly a great asset NOI declines mostly in Sunbelt high supply markets Story is as old as time Bought at a rough 6.7% cap about a year ago at $36 ish now $41.08 plus about $2.12 in dividends since Not too shabby for a 20% one year return for buying a high quality SS with low leverage
Mr Neutral Man aka "Howard Marks of REITs” CUBE $9.2B
@david_katunaric

Mikro Kap David on X

For anyone chasing yield while everyone seems bearish on duration, I noticed that $VNO preferreds are currently yielding >8.2%, while Manhattan office leasing activity is at its strongest level since 2000. At the same time, I struggle to see credit risk here. The sector seems to have weathered the worst of the downturn, Vornado's balance sheet looks more than capable of handling its corporate debt obligations, and several major refinancings are now behind it. Personally, my hurdle is higher, and as a 🇭🇷 investor, the currency risk and 30% US dividend withholding tax make the setup much less attractive to me. But I figured it was worth sharing for anyone looking for income opportunities.
@AsifSuria

Asif Suria on X

This has been a very active week for M&A activity with 6 new deals announced and half of them over $10 billion in size. The largest spread is for the acquisition of Maplebear (the weird name for Instacart) $CART by DoorDash $DASH with the deal trading for a 11% discount to the acquisition price. Considering what happened with the merger of the uniform rental companies UniFirst $UNF and Cintas this week and Mayor Mamdani's comments about the Instacart acquisition, it is not going to be easy for DoorDash to get this deal to the finish line.

Investor Letters

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Molina & Kinsale

Molina Healthcare and Kinsale Capital’s earnings are reassessed through a long-term lens, emphasizing conviction and detachment during…

KNSL $8.3B
Bearstone 8 clicks
POST · long

Post Holdings INC

Post Holdings remains a large position after the stock's recent decline.

POST $3.7B
Value Investors Club

Who Really Runs Crocs? The Autopsy.

Crocs CEO Andrew Rees turned around the core brand, then borrowed $2 billion for HEYDUDE, whose $737 million write-down followed wholesale…

CROX $7B
Cannibal Stocks 4 clicks

Power Semiconductors: The Follow-Up

STMicroelectronics, Navitas and Wolfspeed offer contrasting power-semiconductor cases tied to NVIDIA’s 800V AI data-center architecture,…

NVTS $2.5B
SixSigmaCapital: Navigating the Financial Markets 4 clicks

The Offshore Message From Oslo

Offshore drillers have secured 105 rig-years by September, 42% above all of 2025, as national oil companies lock up long-term capacity.

RIG $7.4B
Cannibal Stocks 1 click

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