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CRF: A Soft Market Will Hurt Its Premium

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American Century Growth Fund Q1 2026 Commentary (TWCGX)

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American Century Growth Fund Q1 2026 Commentary (TWCGX)

American Century Investments is a leading asset manager focused on delivering investment results and building long-term client relationships while supporting research that can improve health and save lives. Note: This account is not managed or monitored by American Century Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use American Century Investments’ official channels.

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Markets may be approaching near-term exhaustion after strong rally: Rohit Srivastava

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Markets may be approaching near-term exhaustion after strong rally: Rohit Srivastava
Indian equities started the week on a strong footing, extending recent gains, though market watchers are increasingly flagging signs of slowing momentum even as the broader uptrend remains intact.

Speaking to ET Now, Rohit Srivastava, Founder, Strike Money Analytics & Indiacharts said the market’s underlying structure is still positive, but momentum indicators suggest the pace of the rally is cooling.

“This is the fifth week of gains for the smallcap index, which is a long stretch. Our RMI indicator has crossed to the sell side for mid and smallcaps despite strong breadth. It shows that the speed of price rise is slowing. We may be nearing the end of this move. However, we made a longer-term bottom in early April, so any pullback should be seen as an opportunity.”

He added that the Nifty faces a key technical hurdle in the near term.

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“The level to watch is 24,300, which is immediate resistance. If we fail to move past it, we could retest 23,500. If we break above it, we may move beyond 25,000. As we enter May, a month that often slows after April’s momentum, we should stay alert to near-term volatility.”


While indices may be entering a consolidation phase, sectoral trends are beginning to diverge, with real estate emerging as a standout performer.
The Nifty Realty index has surged sharply, raising hopes of a possible base formation after a prolonged downtrend.“The realty index has been falling for over two years, from June 2024 to March 2026. It is possible that the correction has ended, with early value buying now emerging. It is too early to say the sector has fully turned, given oversupply concerns, especially in metros.”

“Prices have started to turn, which is an early positive sign. The real trigger would be a rate cycle change. We have not yet seen bond yields fall or RBI rate cuts. Those will be key future catalysts. But this is likely the first phase of value buying after a long bear market.”

Overall, markets remain at a delicate juncture—supported by strong liquidity and sentiment, but increasingly sensitive to technical resistance levels and macro triggers that will decide the next leg of the trend.

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What the parties are promising on transport in Wales ahead of the Senedd Election

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Westminster governments of whatever hue have underfunded Wales and the Senedd is the only route we have to achieve the funding levels needed to improve life in Wales.

A bus crashes down a mountainside

A TfW train at Cardiff Station.(Image: 112 Canarias)

In Thursday’s Senedd Election a judgement is to be made on which political party (or coalition) will take forward Wales’ transport network.

An efficient transport system provides the basis for a successful economy to move people and freight within Wales and internationally. Inward investors see transport in their top four criteria.

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Most parties address in some way the issues discussed in this column over recent months. There is a split between those concentrating on additional new roads/increasing capacity on existing roads (Welsh Conservatives/Reform) and public transport investment (Plaid Cymru, Green Party, Welsh Labour, Welsh Liberal Democrats).

Welsh Conservatives designate the M4, A55 and A40 as ‘union highways’ benefitting the UK as a whole. Surely, they should firstly benefit Wales.

READ MORE: New South Wales to London train service launch date

Author avatarDylan Jones-Evans

Experience shows that new road capacity may improve the short-term congestion position but over several years more traffic is attracted and congestion will return and not solve the south-east Wales’ road congestion problem. The capital cost of a new M4 relief road (really a six-lane motorway) is over £2bn. The annual cost of removing potholes is estimated at £250m.

The estimated cost of making a 21st century railway network in Wales is £14bn (Today, Tomorrow, Together, Welsh Government, 2026)

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These numbers are a massive fiscal challenge to any incoming government. The party manifestos have to show an understanding of the costs (whether published or not; and not just small marginal items) but also income from capital and revenue accounts within the block grant and Welsh taxation.

The sources and size of government revenue and the timescale over which it is received has to be set against a vision of strategic transport and land use planning. Consequently any new land developments (housing, business, retailing, manufacturing) must have an associated transport plan. Keeping in mind that major infrastructure schemes are not built within the life of one Senedd.

Wales has not been ‘fiscally fought for’ over decades but of the parties transport manifestos only Plaid Cymru refers to the revenue side of Wales’ public funding and making best use of the funds.

That unfairness shown to Wales must be resolved and Plaid Cymru in its first hundred days of government promises to begin negotiations with Whitehall sourcing a new block grant settlement. This would include full devolution of all rail investment funding alongside the existing operational powers and funding. And while adding a modestly estimated £3bn (including the investment backlog) annually to the block grant, it would also make possible an integrated transport investment programme.

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A new investment framework would then evaluate the costs and benefits of all road and rail infrastructure investment schemes and would have similarly considered the 20mph scheme. This implies that decisions are made initially on strategic criteria reflecting HM Treasury’s new ‘Green Book’ approach and then considered on economic or financial grounds. This evaluation process would apply to Cardiff Airport funding.

Although not specific on roads, it is fair to say that Plaid Cymru has produced the most detailed analysis of needs in its transport manifesto. It reflects a Netherlands-type approach which has been successful in reducing car-related traffic congestion and improving safety through a national public transport ticket, an integrated bus /tram/ rail /cycle network via interchange points and new vehicle investment. It should find favour with Welsh Liberal Democrats and the Green Party. Welsh Labour is clear on its intentions but so it should after thirty years background knowledge.

Reform unfairly criticises railway passenger capacity but incorrectly believes that using bimodal trains and varying length of trains between peak and off-peak times will solve overcrowding. That may work in London but indicates a very limited knowledge of Wales’ railways.

Wales will undoubtedly face a big financial challenge during the next Senedd. If these policies are to be achieved, increased income is required from the two main sources – Barnett formula consequential payments from Westminster and Wales’ own income and land transfer taxes. Increase in Welsh income tax is bravely suggested by the Liberal Democrats.

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One thing is clear. Any party which does not have in its manifesto, nor in previous statements, the continuance of the Senedd and a devolved government is living in a fiscal dream world. Successive Westminster governments of whatever hue have underfunded Wales. The Senedd is the only route we have to achieve the funding levels needed to improve life in Wales.

Parties prepared to follow a hard and continuous fiscal onslaught against the London governmental elite must therefore control the Senedd.

  • Professor Stuart Cole is emeritus professor of transport (economics and policy) University of South Wales.
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Did LeBron Finally Shift the Conversation?

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Lebron James Post Game Interview: LeBron James Leads Lakers

LOS ANGELES — As LeBron James approaches the twilight of his record-shattering 23rd NBA season, the eternal debate over basketball’s Greatest of All Time has taken a reflective turn. In recent wide-ranging interviews, the 41-year-old Lakers superstar has downplayed direct comparisons with Michael Jordan, calling the GOAT conversation “tiring barbershop talk” while acknowledging their vastly different playing styles and expressing hope that he has made his childhood idol proud. The comments, made as James continues piling up historic milestones, have reignited passionate discussions rather than settling them.

James told ESPN that he has never compared himself to Jordan because “our games are totally different.” He described himself as a point-forward who has always prioritized playmaking, while noting Jordan’s scoring-first mentality. “I never have compared myself to MJ,” James said. “I have been a point-forward/forward-point my whole life. I have always looked for the pass. MJ kind of looked for the shot. Not kind of — he did.”

The remarks come amid another postseason run for the Lakers, where James has added to his already unparalleled résumé. In the playoffs, he became the first player in NBA history to reach 500 career postseason steals, widening his lead over Jordan in that category. He also continues to chase longevity records, having already passed numerous milestones Jordan set during his shorter but dominant career.

Jordan himself has long downplayed the GOAT label. In past interviews, he predicted the debate would become “debatable” once new generations emerged and emphasized that comparing eras is inherently unfair. Recent reports suggest Jordan has privately defended James against harsh criticism, once calling ESPN’s Michael Wilbon to urge softer coverage of the young LeBron.

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The 2026 version of the debate reflects how far James has come. With four NBA titles across three franchises, all-time scoring leadership, and unmatched versatility, many analysts argue his case has never been stronger. Yet Jordan’s six championships, perfect Finals record, and cultural dominance remain the gold standard for many fans and former players. Stephen A. Smith and other commentators reacted strongly to James’ latest comments, with some interpreting them as a subtle concession and others as mature perspective.

James has emphasized respect for Jordan throughout his career. He wore No. 23 early in his career as a tribute and has repeatedly called Jordan the player who inspired him most. In the ESPN interviews, he expressed hope that Jordan is proud of how he represented the number. That humility stands in contrast to the often heated social media battles between fans of both icons.

Statistically, the gap continues to widen in James’ favor on volume metrics. He leads in career playoff steals, total games played, and assists, while holding the all-time scoring crown. Jordan maintains advantages in scoring average, defensive accolades in certain seasons, and Finals dominance. Advanced metrics like Win Shares and Value Over Replacement Player show a tight race when adjusted for era, but longevity gives James a massive edge in cumulative production.

The debate remains deeply personal for fans. Jordan represents the pinnacle of 1990s basketball excellence — six titles in eight years with the Chicago Bulls. James symbolizes endurance, adaptability and team success across two decades and multiple franchises. As James nears potential retirement after the 2026-27 season, many believe the conversation has evolved from “who is better” to “who had the greater career.”

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Jordan has stayed largely silent on the latest round of comments, consistent with his approach of letting achievements speak. Those close to him say he views the debate as ultimately unwinnable and unnecessary. James, for his part, has grown weary of it dominating discussions about his legacy. “You can love both of us without trying to tear the other person down,” he has said in various forms over the years.

Analysts note that the GOAT debate may never have a definitive winner. Different eras, rule changes, competition levels and playing styles make apples-to-apples comparisons difficult. Jordan faced hand-checking and physical defenses; James has thrived in a spacing-friendly, analytics-driven league while carrying heavier playoff minutes over more seasons.

As the Lakers push deeper into the 2026 playoffs without Luka Doncic, James’ leadership and production continue fueling arguments on both sides. His ability to elevate teammates and adapt at age 41 adds another chapter to his résumé. Whether that ultimately sways more voters in the endless GOAT poll remains uncertain.

For now, James seems content focusing on the present — chasing another title while mentoring younger players. Jordan, at 63, watches from afar as the game he revolutionized evolves. Their mutual respect, even amid the public debate, stands as one of the sport’s most compelling ongoing storylines.

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The conversation James once engaged with more directly has become, in his words, tiring. Yet it shows no signs of fading. As long as basketball is played, fans will argue about the greatest. LeBron James’ latest reflections may not have surprised Michael Jordan — but they have given the debate fresh nuance in 2026.

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Iran warns US to keep out of Hormuz after Trump pledges help for stranded ships

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Iran warns US to keep out of Hormuz after Trump pledges help for stranded ships

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Full Clues and Solution for Today’s Puzzle Revealed

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Air travellers wearing a protective face masks, amid the coronavirus disease (COVID-19) pandemic, at JFK International airport in New York

NEW YORK — Wordle players across the globe tackled puzzle No. 1780 on Monday, May 4, 2026, with many turning to online hints and community discussions as the daily brain teaser from The New York Times delivered another challenging five-letter word. The solution for today’s Wordle is RISER, a noun that can describe a person who gets up early in the morning or the vertical part of a step in a staircase. For those still solving or looking back on the puzzle, here are the progressive hints, strategies and context that defined this moderately difficult entry in the popular word game’s ongoing streak of daily challenges.

The puzzle opened with a subtle hint pointing to something that rises, whether a person after sleep or a structural element. A stronger clue noted it starts with the letter R and features one repeated letter. Players who guessed common starters like SLATE or STAIR quickly narrowed options, with many reporting the word took an average of five guesses according to New York Times data. The repeated R and mix of common consonants made it trickier than average, though the two vowels helped once the pattern emerged.

Wordle enthusiasts on social media and forums like Reddit shared their journeys, with many celebrating streaks maintained or lamenting near-misses. One common path involved starting with STAIR, leaving just four possibilities and leading directly to RISER on the third or fourth try for sharp solvers. Others who opened with words containing more vowels took longer but still cracked it before the six-guess limit. The answer’s dual meaning — an early riser or a stair riser — added a satisfying “aha” moment for those who landed on it.

Created by Josh Wardle and now owned by The New York Times, Wordle has maintained massive popularity since its 2021 explosion, with millions of daily players worldwide. Puzzle #1780 continued the game’s tradition of accessible yet thoughtful vocabulary tests, drawing on everyday English words that reward both luck and strategy. Today’s solution fits the pattern of nouns that appear in common contexts like home design or daily routines, keeping the game approachable for casual fans while offering depth for word nerds.

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For players seeking help without spoilers, the best approach remains starting with a balanced opener containing multiple vowels and common consonants. Words like ADIEU or SLATE remain popular for information gathering. Once yellow or green letters appear, focus on elimination and patterns — today’s puzzle rewarded those who tested R-heavy options early. Community sites and apps provide additional tools, but the official game’s simplicity is what keeps it addictive for players of all ages.

The rise of Wordle variants and spin-offs, including the more complex NYT Connections and Strands, has only heightened interest in the original. On May 4, discussions around #1780 trended as solvers compared notes and shared scoredle breakdowns. Many noted the puzzle’s difficulty rating hovered around “moderately challenging,” with some calling it a fair test that rewarded logical deduction over pure luck.

Wordle’s enduring appeal lies in its daily ritual and shareable results. Green, yellow and gray square grids flooded social media as friends and family compared streaks. For newcomers, the game’s rules are straightforward: guess a five-letter word in six attempts, with feedback on correct letters and positions. Today’s answer, RISER, highlights how the game draws from both common and slightly specialized vocabulary, keeping even veteran players on their toes.

Looking back, puzzle #1780 joins a long line of memorable entries. Previous days featured words like PUFFY, while future puzzles promise more surprises. The New York Times continues refining the word list to balance difficulty and fairness, removing obscure terms while retaining engaging challenges. For May 4 specifically, the solution’s double R and straightforward definition made it satisfying once solved, with many players posting victory emojis and celebrating unbroken streaks.

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Beyond entertainment, Wordle serves as a gentle workout for vocabulary and pattern recognition. Educators have incorporated it into classrooms to build word skills, while seniors appreciate its low-pressure format for daily mental stimulation. The game’s accessibility — free, browser-based and quick — has helped it survive trends that felled other viral apps. On a day when global news cycles were busy, millions still found time for their Wordle fix.

If you missed today’s puzzle or want to improve for tomorrow, remember the community’s collective wisdom: track letter frequency, avoid repeating confirmed gray letters, and use process of elimination. RISER may have stumped some, but its reveal sparked conversations about language and everyday terms. Whether you solved it in three guesses or needed all six, the daily Wordle ritual remains a bright spot for millions seeking a moment of mental clarity.

As Wordle enters its fifth year of widespread popularity, puzzles like #1780 remind fans why the game endures. Simple rules meet clever word selection, creating moments of triumph or gentle frustration that keep players coming back. For those who nailed RISER today, congratulations — your streak lives on. For everyone else, tomorrow’s puzzle awaits with fresh hints and a new chance to test your skills.

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Cometti farewelled at state memorial service

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Cometti farewelled at state memorial service

Scores of people flocked to Optus Stadium on Monday afternoon to pay their respects to the late Dennis Cometti, who died on March 3.

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BOTZ: Lagging The Real Tech Story

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BOTZ: Lagging The Real Tech Story

This article was written by

Freelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to financial data. Working with teams that include senior editors, investment strategists, marketing managers, data analysts, and executives, I contribute ideas to help make content relevant, accessible, and measurable. Having expertise in thematic investing, market events, client education, and compelling investment outlooks, I relate to everyday investors in a pithy way. I enjoy analyzing stock market sectors, ETFs, economic data, and broad market conditions, then producing snackable content for various audiences. Macro drivers of asset classes such as stocks, bonds, commodities, currencies, and crypto excite me. My thing is communicating finance with an educational and creative style. I also believe in producing evidence-based narratives using empirical data to drive home points. Charts are one of the many tools I leverage to tell a story in a simple but engaging way. I focus on SEO and specific style guides when appropriate.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Arquitos Capital Q1 2026 Investor Letter

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Royce Small-Cap Fund FY 2025: What Worked... And What Didn't

Stock market financial investment and trading graph interface showing ticker price evolution with candlestick chart and moving average curves. Increasing profit. Forex. Person touching virtual screen.

NicoElNino/iStock via Getty Images

Dear Partner:

Arquitos returned -7.2% net of fees in the first quarter of 2026. Individual returns will vary based on timing of investment. Please check your statement for specific results.

Annualized
YTD 2026 One Year Three Year Five Year Ten Year Since Inception
Arquitos Capital (NET) -7.2% 82.1% 42.3% 16.0% 11.8% 13.6%
Arquitos Capital (Gross) -6.9% 96.4% 46.9% 18.7% 15.3% 17.8%
Russell 2000 0.9% 12.8% 13.7% 6.1% 9.6% 9.9%

Liquidating Biotechs and Biopharmas

In the first few years of running Arquitos, a popular special situation theme involved distressed companies from the financial crisis. The company was being restructured. Subsidiaries were sold off, closed, or put into some sort of runoff. Sometimes the end goal for the company was liquidation.

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Investors often misunderstood the value that was left over from these situations. In some cases, shares traded significantly lower than the net assets left over from the restructuring. Sometimes the corporate shells that were left with tax loss carryforwards had even more value if an effective cash flowing acquisition was made.

Back then, the theme generally focused on finance-related companies. Over the last few years, something similar has been happening with a handful of biotech and biopharma companies. A representative example is a pre-revenue biotech that believes it has a promising drug in its pipeline. They may have had positive results from clinical trials. The company is able to raise money off that success, but then the drug fails in a phase 3 trial. The company generally has excess cash after that failure, but the share price sometimes drops significantly below the net cash price.

I have historically done well with the theme that mispricings (think opportunities) can occur when there is changeover involving different types of investors. In the biotech example above, the shareholder base of that company are investors who are specifically interested in new drug development. Those shareholders don’t care about the post-failure balance sheet or tax loss carryforwards. They certainly don’t care about owning a failed company where the potential future returns are measured in two digits and not three or four.

Those types of shareholders indiscriminately sell on the news that the clinical trial failed.

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For the company, the economically rational thing to do in that situation is to immediately cut the work force and as many expenses as possible, attempt to get out of all long term commitments such as leases, survey their intellectual property to determine if any of it has value, and then return the cash on their balance sheet to shareholders. After that, if there is interest from outside parties involving the corporate shell and their tax assets, then the company should hand the reins over to them.

Oftentimes, the company needs to be pushed to do the economically rational thing. Fortunately, there are a few activists in this area. We currently are passive owners of a basket of these situations. I am a buyer, so will keep the names that I am interested in private at this point. I am also interested in taking a more active role for the right opportunity. If this is an area of interest for you, please let me know.

ENDI Corp. (ENDI)

ENDI shares declined from $16.75 at the end of 2025 to $15.00 at the end of the first quarter.

In March, the company reported strong results for full year 2025. Assets Under Management increased by 21% to $4.1 billion at the end of 2025 compared to the end of 2024. Overall revenue increased by 38% to $21.3 million. Adjusted EBITDA increased to $11.1 million from $6.5 million compared to the year before. ENDI ended 2025 with $53 million of total cash and investments compared to $20.1 million at the end of 2024.

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The company will report Q1 2025 results in May.

Finch Therapeutics (FNCH)

Finch shares declined from $13.49 at the end of 2025 to $9.64 at the end of the first quarter. They are lower today. Don’t let this declining price fool you. As I will explain below, no actual value within the company has declined.

Consistent with the liquidating biotech and biopharma theme, Finch is one of the rare companies that is doing the economically rational thing. As I have mentioned in previous letters, they won a jury trial in August 2024 against Ferring Pharmaceuticals, with the jury finding that Ferring infringed on three of Finch’s patents. The value of that award to Finch is between $25 and $80 per share depending on the post-trial decision from the judge. The judge must determine an ongoing royalty rate and determine whether enhanced damages will be awarded. We have now waited more than 20 months for the judge’s decision.

No matter the outcome, an appeal is highly likely and will cost money. Finch also had a lease that they needed to get out of. Due to these two items, even when the judge provides a decision, the market will give a substantial discount to its shares compared to the overall award.

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Because of this, the company decided to move forward with a strategic Chapter 11 filing in order to eliminate the lease obligation and organize an outright sale of the entire company. This sale involves the litigation claim above, 160 issued patents that Finch owns or exclusively licenses, an additional potential case of infringement involving a global corporation, and the corporate shell, which has significant net operating loss carryforwards.

The company has disclosed that there has been healthy interest from potential buyers. We should have a resolution in early June.

I believe that this process will maximize the value of Finch for shareholders and will monetize the assets more effectively than if Finch remained a publicly traded company. While the ultimate sale price won’t be known until June, I continue to believe that we will get a healthy premium over our purchase price.

Liquidia Corporation (LQDA)

Liquidia shares increased from $34.49 at the end of 2025 to $37.74 at the end of the first quarter.

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I have written extensively about our investment in Liquidia. The launch of their Yutrepia product has been nothing short of outstanding. We will be receiving a company update in the next few weeks and expectations continue to be high.

The current short term market moving event is the judicial decision in Liquidia’s patent infringement case with United Therapeutics (UTHR) involving PH-ILD. We should receive the decision at any moment.

The math checks out as follows:

If Liquidia wins outright with no infringement found, Liquidia should be able to produce $1.2 billion in revenue in 2027 with net margins of at least 60%. If we apply the current market multiple of their competitor, United Therapeutics, then Liquidia shares are worth at least $140 per share fully diluted.

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If Liquidia is found to have infringed on the United Therapeutics patent, the likely outcome is for the court to impose a royalty on Yutrepia sales involving PH-ILD with a royalty range between 3% and 10%. Assuming PH-ILD-related Yutrepia sales are 70% of overall 2027 sales of $1.2 billion, and assuming the worst-case scenario of a 10% royalty, Liquidia shares are worth approximately $123 per share fully diluted.

In the worst-case scenario, the judge could find that Liquidia infringed on the United Therapeutics patent and issue a permanent injunction on the sale of Yutrepia to PH-ILD patients. I believe this potential outcome has less than a 5% chance of happening. However, if it does happen and there are no sales to PH-ILD patients in 2027, Liquidia shares would still be worth $70 per share in 2027 on sales to PAH patients alone.

To be clear, if the patent infringement decision goes against Liquidia, I would expect shares to decline in the short term, perhaps sharply. But, if you follow the math I have laid out above, Liquidia is extremely cheap today under any outcome.

Additionally, I believe the company can continue to significantly grow revenue with stable margins in 2028 and beyond. $1.2 billion in 2027 is just the beginning. Treprostinil formulations like Liquidia’s Yutrepia currently generate $2.9 billion of annual industry revenue. Liquidia has already shown that they can not only take the majority of the treprostinil market, but they can also expand the total addressable market by treating patients who are both naïve (i.e., not currently being effectively treated), and by more effectively addressing patients who are currently being treated by non-treprostinil treatments.

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I have never been this bullish on a position we have held in the fund. Again, there certainly could be short term volatility in the stock, but if you look at the numbers above, Liquidia is well positioned to trade at a stock price much higher than today in 2027 and beyond even if there is an extreme negative outcome in the patent infringement case.


Thank you again for your investment and commitment. Arquitos is open to new investments and additional contributions from current investors on a monthly basis. I appreciate your introductions. I look forward to continuing to compound assets on your behalf for many years to come.

Best regards,

Steven Kiel

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References

  1. Founded April 10, 2012

Disclaimer

This letter is for informational purposes only and does not reflect all of the positions bought, sold, or held by Arquitos Capital Offshore Master, Ltd. or its feeder funds, Arquitos Capital Partners, LP, and Arquitos Capital Offshore, Ltd. Any performance data is historical in nature and is not an indication of future results. All investments involve risk, including the loss of principal. We disclaim any duty to provide updates or changes to the information contained in this letter.

Performance returns presented above are for Arquitos Capital Partners, LP and reflect the fund’s total return, net of fees and expenses, since its April 10, 2012, inception. They are net of the high water mark and the 20% performance fee, applied after a 4% hurdle, as detailed in the confidential private offering memorandum. Arquitos Capital Offshore, Ltd. was launched on March 1, 2018. Returns from Arquitos Capital Offshore, Ltd. may differ slightly and are not presented here.

Performance returns for the current year are estimated by our third-party administrator, pending the year-end audit. Actual returns may differ from the returns presented. Positions reflected in this letter do not represent all the positions held, purchased, or sold.

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This letter in no way constitutes an offer or solicitation to buy an interest in Arquitos Capital Partners, LP, Arquitos Capital Offshore, Ltd., or any of Arquitos Capital Management’s other funds or affiliates. Such an offer may only be made pursuant to the delivery of an approved confidential private offering memorandum to an investor.


Original Post

Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.

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NYT Connections Sports Edition May 4 2026 #587 Hints Answers and Full Solution Revealed

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Nancy Guthrie

NEW YORK — NYT Connections Sports Edition puzzle No. 587 for Monday, May 4, 2026, challenged players with sports-themed word groups that tested knowledge of athletic fitness, coaching history, famous curses and college team nicknames. The New York Times word game continues its daily popularity among sports fans, delivering clever categories that blend trivia, wordplay and common threads. For those still solving or seeking a complete breakdown, here are progressive hints, strategic tips and the full answers to today’s edition.

The puzzle featured 16 words arranged in a 4×4 grid. Players must identify four groups of four words that share a common theme, with difficulty levels ranging from yellow (easiest) to purple (hardest). Today’s edition rewarded broad sports knowledge, particularly around physical conditioning, NFL leadership, legendary sports curses and Big Ten conference lore. Many players reported solving it in four to five attempts, describing the puzzle as moderately challenging but fair.

Progressive Hints (Spoiler-Free at First): Start with obvious fitness-related terms. Look for adjectives describing peak athletic condition. Another group involves current leaders of NFL franchises. A third draws from well-known supernatural jinxes in sports history. The toughest category connects partial names from prominent college athletic programs in the Big Ten.

Yellow Category (Easiest): In Good Shape — AGILE, ATHLETIC, FIT, STRONG. These words describe athletes in excellent physical condition, a straightforward warmup category that many players identified first.

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Green Category: Current NFL Head Coaches — COEN, GLENN, REID, RYANS. These surnames belong to active coaches in the National Football League, testing fans’ knowledge of the league’s sideline leaders as of spring 2026.

Blue Category: Famous Sports “Curses” — BAMBINO, BILLY GOAT, MADDEN, SI COVER. This group references legendary jinxes: the Curse of the Bambino (Red Sox), Billy Goat Curse (Cubs), Madden Curse (video game cover) and Sports Illustrated Cover Jinx.

Purple Category (Hardest): Starts of Big Ten Team Names — BOIL, BUCK, CORN, HAWK. These prefixes complete well-known Big Ten school nicknames: Boilermakers (Purdue), Buckeyes (Ohio State), Cornhuskers (Nebraska) and Hawkeyes (Iowa).

The puzzle’s structure encouraged logical deduction. Many solvers started with the fitness words, then moved to recognizable curse references. The NFL coaches group required more specific sports knowledge, while the Big Ten starters proved trickiest for casual players. Community forums lit up with discussions, with some praising the educational value and others noting clever misdirection in the grid.

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Connections Sports Edition has grown rapidly since its launch, capitalizing on the original game’s success while focusing exclusively on athletic themes. The daily format keeps fans engaged, blending nostalgia (curses), current events (coaches) and general knowledge (fitness and nicknames). Puzzle #587 maintained the high standard, offering something for both hardcore sports enthusiasts and casual solvers.

For strategy, experts recommend scanning for obvious clusters first, then using process of elimination. Today’s grid contained tempting red herrings, such as words that could loosely fit multiple categories. Avoiding early mistakes on the purple group was key to preserving guesses. Players who shared results on social media celebrated perfect solves or close calls, with many posting their colored grids.

The New York Times continues refining Connections Sports Edition to balance accessibility and challenge. Daily puzzles like #587 draw millions of attempts worldwide, fostering community and friendly competition among friends and families. Whether solved in three attempts or requiring all mistakes, the game provides mental stimulation and sports conversation starters.

Looking ahead, tomorrow’s puzzle promises fresh categories and new opportunities to test sports IQ. For those who enjoyed today’s edition, revisiting past puzzles or exploring related NYT games like the standard Connections or Wordle can extend the fun. Puzzle #587 will be remembered for its mix of timeless sports lore and contemporary references, perfectly capturing the spirit of the series.

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As sports fans worldwide compared notes on May 4, the consensus was clear: another engaging daily challenge successfully delivered. Connections Sports Edition continues proving why themed word grouping games have become a staple of morning routines for millions seeking both entertainment and intellectual exercise.

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