Investment giant Berkshire Hathaway (BRK.B) trimmed its stake in Apple (AAPL) and offloaded more than three quarters of its Amazon (AMZN) position in Q4 2025. The quarter was legendary investor Warren Buffett’s last as CEO of the Omaha-based conglomerate which he built it into an insurance and investing powerhouse. The moves were revealed in the final Berkshire portfolio update overlapping with Buffett’s tenure as CEO. The ‘Sage of Omaha’ officially handed the CEO baton to Greg Abel after retiring at the end of last year. It is unclear whether these moves were carried out by Buffett or Berkshire investment managers…

Having long-lagged developed markets, emerging markets staged a stunning turnaround in 2025. The asset class has also delivered a robust performance year-to-date too. In this article, we ask whether the set-up for emerging markets remains compelling for the balance of 2026. We also highlight six actively-managed funds and investment trusts giving investors access to the asset class. Why invest in EMs now? Global investors remain structurally underweight emerging markets. Combined with improving fundamentals and a softer dollar, this suggests now is a good time to buy into the asset class. Emerging markets are key to the artificial intelligence (AI) buildout…

Shares in BAE Systems (BA.) soared 4% to £21.03 after the defence group delivered record sales and better-than-expected earnings for 2025. Share price: £21.03 (+4%)PE: 25.8xMarket cap: £60.4bnYield: 2% Europe’s biggest defence contractor is profiting from a ramp-up in global defence spending amid rising geopolitical tensions. Notably, Europe is rearming itself in response to Russia’s invasion of Ukraine. Forecast-beating earnings The aerospace, arms and IT security company posted forecast-beating underlying earnings before interest and tax (EBIT) of over £3.3 billion for 2025. That was up 12% on 2024. Sales surged 10% to a record £30.7 billion with BAE seeing growth…

Online fashion and beauty platform Debenhams (DEBS:AIM) confirmed speculation surrounding a planned £35 million equity fundraise at a discounted 20p per share. The news sent the stock down 10% to 20.3p in early deals. Having rebranded from Boohoo last year, Debenhams said the equity will be used to pay down debt. It will also provide increased financial flexibility to pursue a turnaround plan that is ‘going apace’. Share price: 20.3p (-10%)PE: n/aMarket cap: £312mYield: n/a The retailer is also in talks with its lenders to create additional liquidity to support its recovery strategy. Skin in the game Key insiders including…

Shares in Applied Nutrition (APN) rose 6% to 255p after the sports nutrition, health and wellness brand raised guidance for the year to July 2026 yet again. Following a strong first half performance, the FTSE 250 firm expects FY26 results will be ahead of the previously-upgraded consensus calling for revenue of £133.5 million and adjusted EBITDA of £37.7 million. Share price: 255p (+6%)PE: 22xMarket cap: £604mYield: n/a Cavendish hiked its FY26 revenue and adjusted EBITDA estimates by 4.3% to £140.3 million and £39.6 million respectively on the news. The broker views Applied Nutrition as a ‘high-quality, highly scalable operator in…

Seraphim Space (SSIT) has reported a ‘substantial’ 24% increase in net asset value (NAV) on the back of valuation and contract wins by the trust’s four biggest holdings: ICEYE, ALL.SPACE, D-Orbit and Hawkeye 360. Shares in the world’s first listed SpaceTech fund firmed 4.5% to 147.7p on the news and have now rocketed 185% higher over the past year. Share price: 147.7pAIC sector: Growth CapitalMarket cap: £335mYield: n/a James Carthew, head of investment company research at QuotedData, calculates the valuation uplift is ‘about 29.1p, which would make the NAV 148.6p, all else being equal’, putting Serpahim Space back on a small…

Shares in automotive software provider Pinewood Technologies (PINE) plunged 30% to 305.5p after Apax Partners withdrew its £575.5m takeover offer. In a statement on 13 February, the private equity giant blamed ‘prevailing challenging market conditions’ for its decision to walk away. Share price: 305.5p (-30%)PE: 54.6xMarket cap: £502mYield: n/a In response, Pinewood expressed confidence in its long-term prospects. The FTSE 250 firm highlighted its scope for growth in the North American automotive dealer software market. Trading as Pinewood.AI, the company offers a cloud-based automotive intelligence platform to car dealerships. Last month, it emerged Pinewood was in talks with Apax over…

Shares in L’Oreal (OR) plunged 6.5% to €366.7 in Paris after the French beauty giant’s FY25 and Q4 sales growth undershot market expectations. Investors were especially disappointed by misses in the group’s luxury and North Asia businesses, where the market was expecting better sales growth. Share price: €366.7 (-6.5%)PE: 29.5xMarket cap: €209bnYield: 2% L’Oreal is emerging from a tough past 18 months. Growth in the global beauty market, which boomed in 2021, slowed in 2025, although green shoots are now emerging. Like-for-likes accelerate L’Oreal is the owner of L’Oréal Paris, the number one beauty brand in the world, as well as…

The Association of Investment Companies (AIC) has written to the FCA and the Department for Business and Trade (DBT) calling for action to protect retail shareholders’ interests. This follows Saba Capital’s relentless attacks on Baillie Gifford-managed Edinburgh Worldwide (EWI). The US activist holds just over 30% of the global smaller companies trust. Defend shareholders’ rights The AIC’s letters suggest measures to defend shareholders’ rights and ensure a fair and democratic process. It argues there should be a limit to the number of times a meeting can be requisitioned by the same shareholder making similar proposals. Share price: 236pTotal assets: £848mMarket cap: £816.3mPremium…

Consumer goods company Unilever (ULVR) delivered better-than-expected organic sales growth for Q4. This was driven by strong demand for its Dove, Domestos and Vaseline brands. The FTSE 100 constituent also announced a new €1.5bn share buyback to start in the second quarter. Share price: £52.53 (-1.5%)PE: 24xMarket cap: £114.6bnYield: 3.3% So why were the shares marked down 1.5% to £52.53 in early dealings? Well, Unilever provided underwhelming guidance, warning that slowing markets could impact growth. Cautious outlook Unilever said FY26 growth would be ‘at the bottom end of the underlying sales growth range’ reflecting slower market conditions. This cautious outlook…