The London Company Income Equity portfolio returned 4.4% (4.2% net) during the quarter vs. a 4.2% decrease in the Russell 1000 Index.
GLW continues to outperform, driven by strong demand in Optical Communications, particularly for GenAI-related products.
NTDOY was pressured this quarter by rising memory chip prices, a key input of its hardware, and concerns around increased competition in gaming from AI.
QSR earns steady royalty and fee income from thousands of franchise locations worldwide, producing naturally high profit margins and strong, predictable cash flow.
