For most companies, there's roughly a 12-month period where the business is at its peak value, and then it crashes out. The companies that capture generational returns are often the ones where someone spies that moment instead of assuming the good times will get even better.
MLPA holds stakes in large-cap midstream Master Limited Partnerships that operate pipelines, storage facilities, and processing plants for crude oil and natural gas. These businesses collect volume-based tariffs and fees under multi-year contracts rather than selling commodities at spot prices.
Mark Mahaney described tech stocks as dislocated high-quality companies, emphasizing that they present opportunities as narratives shift, particularly around Amazon's AI capabilities.
PDBC does not own stocks that pay dividends. Instead, it holds commodity futures contracts across energy, metals, and agricultural markets. The fund's primary portfolio holding is a money market instrument, Invesco Premier US Government Money Market, which represents roughly 78% of the fund's assets.
Consumer Loan Marketplace volume was primarily driven by new partner expansion with 307 partners and continued growth in volume from nascent products such as small-business lending loans and DSCR loans. From a DSCR perspective, we do have now about 25 or so partners that have been activated, with another 15 agreements out.