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See exactly how FMCX's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
The same diagram the Chart Builder draws, right on the Summary tab. Upgrade to unlock it for FMCX and 80,000+ other tickers.
This actively managed Exchange-Traded Fund (ETF) generally aims to invest in approximately 25 to 30 U.S. common stocks under normal market conditions. These equities are issued by companies listed on U.S. national securities exchanges and trade simultaneously with the fund's own shares. While the fund's adviser may choose to hold concentrated positions in common stocks, its internal rules stipulate that no individual investment should typically exceed 10% of the portfolio at the point of acquisition. This fund is classified as non-diversified.
Fortune recently published an article about Berkshire Hathaway's (NYSE:BRK.B) net worth is $663 billion, 10 times higher than Nvidia's (NASDAQ:NVDA) and nearly 12 times Apple's (NASDAQ:AAPL).
On Monday, First Manhattan started off the week with the launch of the FM Compounders Equity ETF (FMCE). FMCE is an actively managed fund with a net expense ratio of 0.70%.
FMCX is a large-cap blend fund with a 0.70% expense ratio and $97 million in assets. Selecting only 25-30 U.S. stocks, FMCX is a portfolio of First Manhattan's highest-conviction ideas. The fund's portfolio manager is an industry veteran with over 27 years of experience as a value-oriented investor. However, FMCX's 25.85x forward P/E suggests otherwise. I found other inconsistencies when evaluating FMCX's trailing price-cash flow and trailing price-sales ratios, which wrapped into a value score that ranks just #205/251 in its category.
The U.S. ETF industry saw 22 new ETFs debut last week, which was the best one for launches across multiple months. The issuers launching funds include Capital Group, Direxion, First Trust, Invesco, NEOS, Neuberger Berman, newcomer Nightview Capital, PGIM, Strive, TCW and YieldMax.
Oracle (ORCL) provided downbeat revenue guidance, citing strong competition in the cloud-computing industry. However, it beat earnings estimates.