Core Viewpoint - The article discusses the best stocks to buy and hold for 20 years, emphasizing the importance of durable fundamentals and long-term investment strategies in a complex market environment marked by geopolitical risks and economic uncertainties [2][5]. Market Environment - The investment landscape in 2026 is characterized by geopolitical risks, U.S. midterm elections, a leadership transition at the Federal Reserve, and diverging global monetary policies [2]. - Analysts project modest gains for equities in the U.S., Europe, and Japan, with over half of market participants predicting a potential correction due to concerns over AI-driven valuations [2]. Long-term Outlook - Despite short-term cautious sentiment, the long-term outlook remains positive, with historical trends suggesting that market pullbacks are temporary pauses in a bull cycle [3]. - AI is viewed as a solution to structural labor shortages, with the potential to support durable growth even if some stocks underperform [3]. Earnings Momentum - Earnings momentum for U.S. small caps is expected to improve as rate pressures ease, with optimism building around anticipated Federal Reserve rate cuts in 2026 [4]. - Goldman Sachs has a positive outlook based on strong economic momentum, easing inflation, healthy corporate balance sheets, and sustained AI-driven investment [4]. Stock Selection Methodology - The list of the "10 best stocks to buy and hold for 20 years" was curated using AI chatbots to identify stocks with strong fundamentals and positive analyst and hedge fund sentiment [5][7]. - Hedge fund sentiment was measured using Insider Monkey's database, which tracks 978 stocks as of Q3 2025, and stocks were ranked by upside potential [8]. Stock Highlights - **Costco Wholesale Corporation (NASDAQ:COST)**: Expected to benefit from increased consumer spending due to tax refunds, with a projected incremental $75 billion in refunds for households earning under $200,000 [11]. The company declared a quarterly cash dividend of $1.30 per share [12]. - **Berkshire Hathaway Inc. (NYSE:BRK-B)**: Possibly exiting its 27.5% stake in Kraft Heinz, with the potential resale of 325.4 million shares valued at approximately $7.7 billion [14][15]. The company also finalized a $9.7 billion acquisition of OxyChem, reflecting a strategy to focus on stable, cash-generative assets [17]. - **Eli Lilly and Company (NYSE:LLY)**: Received FDA Breakthrough Therapy designation for a new cancer treatment, enhancing its oncology pipeline visibility [20]. The company is advancing into a global Phase 3 trial for this asset, which addresses a high unmet need in ovarian cancer [21].

Core Insights - The article discusses the current trends and performance metrics in the investment banking sector, highlighting key financial indicators and market movements. Group 1: Industry Trends - The investment banking industry is experiencing a shift towards digital transformation, with firms increasingly adopting technology to enhance operational efficiency and client engagement [1]. - Recent data indicates a significant increase in M&A activity, with total deal value reaching $500 billion in the last quarter, marking a 25% increase year-over-year [1]. Group 2: Company Performance - Major investment banks reported strong earnings, with an average revenue growth of 15% across the sector, driven by increased trading volumes and advisory fees [1]. - A leading firm in the industry announced a net income of $2 billion for the last fiscal year, reflecting a 10% increase compared to the previous year [1].

Core Insights - The obesity drug market is evolving beyond just weight loss efficacy, focusing on a wider range of treatment options and improved patient access [2][3][7] Treatment Options - Executives predict a shift from a one-size-fits-all approach to personalized treatments, including pills, less frequent injections, and combination therapies [3][4] - Novo Nordisk and Eli Lilly are leading the market with GLP-1 injections, while new oral options are being introduced to cater to different patient needs [4][11] - Combination regimens are expected to enhance treatment effectiveness, targeting various obesity-related conditions [16][18] Market Access - Access to GLP-1 treatments has improved, with price reductions and upcoming Medicare coverage for obesity drugs anticipated to increase patient access [6][30][31] - The direct-to-consumer market is projected to grow significantly, potentially comprising a large portion of the obesity drug market [32][33] Market Potential - The weight loss and diabetes drug market could reach nearly $100 billion annually by the end of the decade, driven by increased treatment options and access [7] - Current estimates suggest that 25 to 50 million U.S. patients could be using GLP-1s by 2030, indicating substantial growth potential [8] Innovative Approaches - Companies are exploring new methods for weight loss, such as targeting fat burning rather than appetite suppression, with the aim of preserving muscle mass [22][24] - Lilly's retatrutide, which mimics multiple hunger-regulating hormones, has shown promising results in trials, achieving over 28% weight loss in patients [26][27]

Core Insights - Eli Lilly's stock experienced a significant increase of 39% over the past year, driven by the success of its weight loss drugs [1] - The obesity drug market is projected to reach nearly $100 billion by the end of the decade, indicating strong growth potential [2] Company Overview - Viking Therapeutics specializes in treatments for metabolic and endocrine disorders and is currently developing weight loss candidates in late-stage clinical trials [4] - The company's VK2735, available in both injectable and oral forms, functions similarly to Lilly's tirzepatide, targeting hormones that regulate blood sugar and appetite [5] Clinical Development - Viking's VK2735 has shown promising results in clinical trials, with a reported weight loss of up to 14.7% in a phase 2 trial after 13 weeks [5] - The drug is currently in phase 3 and phase 2 trials, indicating progress towards potential market entry [4] Market Competition - VK2735 has the potential to compete with established products like Lilly's tirzepatide and Novo Nordisk's semaglutide, although direct comparisons are challenging due to differing trial parameters [7] - Despite the dominance of major pharmaceutical companies, there is a consistent demand for weight loss drugs, suggesting opportunities for new entrants like Viking [8] Investment Potential - If successful, Viking Therapeutics could see substantial rewards due to the high demand for weight loss drugs and the potential for partnerships or acquisitions by larger companies [9] - The stock is considered a top biotech investment for 2026, appealing to investors willing to accept the risks associated with drug development [9]

Investment Rating - The report maintains a "Recommendation" rating for the computer industry, expecting the industry index to outperform the benchmark index by more than 5% in the next 3-6 months [16]. Core Insights - NVIDIA and Eli Lilly announced a partnership to establish an AI joint innovation lab aimed at addressing challenges in the pharmaceutical industry, with a planned investment of up to $1 billion over the next five years [2][5]. - The global AI pharmaceutical market is projected to grow from approximately $1.76 billion in 2024 to $2.99 billion in 2026, with a compound annual growth rate (CAGR) of about 30% from 2021 to 2026 [5]. - Companies like 英矽智能, 华兰股份, and 晶泰控股 are highlighted as key players in the AI + biopharmaceutical sector, showcasing significant advancements and investments in AI-driven drug discovery and development [5]. Industry Data - The computer industry consists of 337 listed companies with a total market capitalization of ¥64,957.50 billion and a circulating market capitalization of ¥58,620.09 billion [2]. - The absolute performance of the industry over the past 12 months is reported at 42.4%, with a relative performance of 19.2% compared to the benchmark [3].

Core Insights - Financial giants are showing a bullish sentiment towards Eli Lilly and Co, with 47% of traders being bullish and 29% bearish based on options trading analysis [1] - The predicted price range for Eli Lilly and Co is between $720.0 and $1580.0, indicating significant interest from major players [2] - The average open interest for options stands at 224.91, with a total volume of 1,733.00, reflecting active trading in the past month [3] Options Activity - The largest options trades include a bullish sweep call with a total trade value of $967.9K at a strike price of $1160.00, indicating strong bullish sentiment [6] - Other notable trades include bearish calls with varying strike prices, showcasing mixed sentiments among traders [6] Company Overview - Eli Lilly and Co specializes in neuroscience, cardiometabolic, cancer, and immunology, with key products including Verzenio, Mounjaro, and Taltz [7] - Analysts have set an average price target of $1205.5 for Eli Lilly and Co, reflecting positive expectations for the stock [8] Market Performance - The current trading volume for Eli Lilly is 709,068, with the stock price up by 0.99% to $1089.16, indicating a stable market position [10] - Analysts from Guggenheim maintain a Buy rating with a target price of $1161, while UBS has adjusted its target price to $1250, reflecting confidence in the company's future performance [10]

Core Viewpoint - The fourth quarter of 2025 experienced a sharp 5% sell-off followed by a quick recovery, with global stocks reaching all-time highs, influenced by concerns over a potential AI bubble and subsequent strong earnings from NVIDIA [4][5]. Portfolio Performance & Attribution - The Polen Global Growth Composite Portfolio returned -2.5% gross of fees and -2.7% net of fees in Q4 2025, underperforming the MSCI All Country World Index, which returned +3.3% [7]. - Top relative contributors included Eli Lilly, Alphabet, and Shopify, while Oracle, Paycom Software, and CoStar Group were the largest detractors [7][8]. - Eli Lilly's stock rallied over 40% in Q4 due to strong financial results and a favorable agreement on drug pricing, despite earlier concerns [8]. - Oracle's performance reversed from the previous quarter, primarily due to skepticism regarding its future revenue tied to OpenAI, impacting its stock negatively [9]. Portfolio Activity - New positions were initiated in Tencent Holdings and Spotify, while positions in Sage Group, Willis Towers Watson, ICON Plc, and Workday were eliminated to fund these investments [10][11]. - Tencent has shown consistent earnings growth of over 30% annually for the past three years, and its valuation is considered reasonable for sustainable revenue growth [11]. - Spotify is viewed as a leading streaming network with significant growth potential, expecting over 20% annual free cash flow growth for the next five years [12]. Outlook - The datacenter capital expenditure cycle is expected to continue, driven by increasing demand and supportive government policies, suggesting a favorable environment for growth in revenues and earnings for key players [17]. - The portfolio is positioned to deliver above-average earnings growth, with a focus on sectors outside of the AI and datacenter themes, ensuring resilience regardless of market drivers [18].

Group 1 - The document does not contain any relevant information regarding companies or industries [2][3][4][5][6]

Core Insights - Eli Lilly and Company (LLY) has received FDA Breakthrough Therapy designation for its novel folate receptor alpha (FRα) antibody-drug conjugate, sofetabart mipitecan (LY4170156), aimed at treating certain patients with platinum-resistant ovarian cancer [1][2]. Regulatory Developments - The FDA's Breakthrough Therapy designation is intended to expedite the development and review of drugs for serious conditions, granted when early clinical evidence indicates significant improvement over existing treatments [3]. - Sofetabart mipitecan is specifically designated for adult patients with platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer who have previously received Roche's Avastin and AbbVie's Elahere [2]. Clinical Data - Preliminary data from the phase Ia/b study of sofetabart mipitecan showed positive responses across all dose levels and FRα expression levels, including in patients who had progressed on prior treatment with Elahere [5]. - The initial data also indicate a favorable tolerability profile for sofetabart mipitecan, with low rates of interstitial lung disease, peripheral neuropathy, and alopecia, and no significant eye-related toxicity [8]. Market Performance - Over the past six months, Eli Lilly's shares have increased by 36.6%, outperforming the industry average increase of 23.6% [4]. Future Prospects - The ongoing phase III FRAmework-01 study is evaluating sofetabart mipitecan as a monotherapy for platinum-resistant ovarian cancer and in combination with Avastin for platinum-sensitive ovarian cancer [8]. - Sofetabart mipitecan is also being investigated for other FRα-expressing solid tumors, suggesting potential for broader applications beyond ovarian cancer [9].

Core Viewpoint - The article emphasizes the importance of staying updated on stocks in the biotech, pharma, and healthcare sectors, highlighting the role of catalysts and trends in driving valuations. Group 1: Company Insights - Edmund Ingham, a biotech consultant, has over 5 years of experience covering the biotech, healthcare, and pharma industries, having compiled detailed reports on more than 1,000 companies [1]. - The investing group Haggerston BioHealth, led by Ingham, caters to both novice and experienced biotech investors, providing insights on catalysts, buy and sell ratings, and forecasts for major pharmaceutical companies [1]. Group 2: Industry Trends - The group offers integrated financial statements, discounted cash flow analysis, and market-by-market analysis, which are essential for understanding the financial health and market positioning of companies within the biotech and pharma sectors [1].