Brooks Koepka teed off Thursday in his hometown event, the Cognizant Classic at PGA National, marking his third start since rejoining the PGA Tour after a nearly four-year stint with LIV Golf and signaling a determined push to regain form ahead of the Masters in April.

Koepka, grouped with Will Zalatoris and Daniel Berger, started his round on the Champion Course at 12:23 p.m. local time, drawing significant local attention as the five-time major champion plays the tournament for the first time since 2022. The 35-year-old Palm Beach County native last competed here before defecting to the Saudi-backed LIV circuit, where he won multiple individual titles but saw his world ranking plummet.

Koepka’s return began in January under the PGA Tour’s new Returning Member Program, which required a $5 million charitable contribution — an obligation he began fulfilling this week with funds directed through PGA Tour Charities. The donation, part of his reinstatement agreement alongside forfeiting player equity for five years and waiving 2026 FedExCup bonus eligibility, has been a focal point of discussions around his comeback.

Performance-wise, the transition has been uneven. At the Farmers Insurance Open at Torrey Pines, Koepka posted rounds of 73-68-73-70 for a 4-under 284 total, finishing tied for 56th and earning $22,176. The following week at the WM Phoenix Open, he missed the cut after shooting 75-69 for 2-over 144, struggling particularly on the greens. He has ranked 171st in strokes gained putting this season, losing over two shots per round on average.

To address the issue, Koepka switched to a TaylorMade Spider mallet putter ahead of Phoenix, a change he believes will yield improvement now that he has more time to adapt. “Putting should be a lot better,” he said in pre-tournament comments, expressing optimism about the flat stick staying in the bag at PGA National.

The Florida swing offers Koepka a chance to build rhythm close to home. As a Jupiter resident and new father to son Crew, he cited family proximity as the primary reason for leaving LIV Golf late last year. “Just my family,” he told reporters earlier, emphasizing the personal motivation over financial or competitive factors. Being back in South Florida allows more time with loved ones while competing on familiar turf.

Koepka has described his PGA Tour return as “enjoyable,” noting positive feedback from peers despite some initial frostiness anticipated by observers. Many players have welcomed him back, viewing his departure from LIV as a validation of the Tour’s strength and a blow to the rival league’s credibility. An undercover pro quoted in Golf Digest expressed relief and even enthusiasm, noting Koepka’s public comments during his LIV tenure — including regrets tied to health issues — had already undermined the Saudi circuit’s appeal.

Currently ranked No. 263 in the Official World Golf Ranking — a sharp drop from his 38-week reign at No. 1 starting in 2019 — Koepka aims to climb back into contention through consistent play. He has committed to upcoming events including The Players Championship (March 12-15), Valspar Championship (March 19-22), and the Texas Children’s Houston Open (March 26-29), setting up a busy stretch before Augusta National.

In press conferences ahead of the Cognizant Classic, Koepka discussed his current form, legacy, and preparations for the Masters. He praised emerging talents like Chris Gotterup, who has won twice in 2026, while subtly positioning himself as a future challenger. “Pretty good, considering he’s won twice,” Koepka said of Gotterup. “I would say that’s a name that probably sticks out right now.”

The Cognizant Classic field lacks top-tier star power, with only one player ranked in the top 30 of the OWGR, making Koepka a standout attraction and betting favorite in some markets at around +2900. The Champion Course, known for its challenging Bear Trap stretch on holes 15-17, has seen winning scores rise in recent years compared to Koepka’s prior appearances, where totals hovered around 6- to 10-under.

Koepka’s major pedigree remains undeniable: five wins including three PGA Championships and back-to-back U.S. Opens. His LIV success — five individual victories, including playoffs against Jon Rahm — demonstrated sustained elite play, but the 54-hole, team-inclusive format differed markedly from the PGA Tour’s 72-hole stroke play with larger fields.

As he readjusts, Koepka has emphasized putting himself in contention multiple times before Augusta. A strong showing this week could provide the confidence boost needed after early setbacks. Local fans, many of whom watched him grow up in the area and even carry scoring signs as a junior, have turned out in force, adding emotional weight to the homecoming.

Whether Koepka contends or uses the event as a stepping stone, his return injects intrigue into the PGA Tour’s 2026 season. With family priorities driving his decisions and major championships on the horizon, the five-time major winner appears motivated to reclaim his place among golf’s elite.

An early agenda item for Tata Sons Pvt.’s six board directors when they convened at 11:30 a.m. on Tuesday at Bombay House the group’s storied headquarters was expected to be straightforward: approving a third term for Natarajan Chandrasekaran as chairman.

Within two hours, the conversation had veered off course. What had looked like a done deal, with Tata Trusts itself recommending the reappointment just months ago, quickly unraveled.

Noel Tata, the head of Tata Trusts, began pressing Chandra — as he’s widely known — with tough questions. Most critically, Noel sought assurances that the group’s holding company could avoid a public listing, people familiar with the matter said, asking not to be named as the discussions were private. Tata Trusts is a collective of 13 charities, which together control two-thirds of Tata Sons.

Noel also laid down several conditions: restraining debt levels, stemming losses — especially at Air India, and reaching a swift settlement with Tata Sons’ largest minority shareholder, the Shapoorji Pallonji Group, the people said. The SP Group, which owns about 18.4%, was locked in a corporate and legal battle with Tata Sons for years and is still looking to monetize a part of its stake.

While some of Noel’s demands were negotiable, discussions hit a wall when Chandra said he couldn’t guarantee a waiver from India’s banking regulator on the listing issue since that decision lay outside his control, the people added.

Tata Sons’ potential listing stems from a regulatory classification. In 2022, the Reserve Bank of India designated the company as an “upper-layer” non-banking financial institution — a category that requires firms to go public within three years to enhance transparency and governance. That meant a deadline of September 2025 for Tata Sons to list its shares. There has been no update from the RBI or Tata Sons on the state of play on this front.
Despite the mandate, Tata Sons has made no immediate preparations for this share sale. Its leadership believes the regulator will extend the deadline, and after recent engagements with officials, expects formal communication from the RBI granting more time.
Chandra has made clear that while he personally favors keeping Tata Sons private, he cannot offer an absolute guarantee. Should the RBI insist on a listing, compliance would take precedence over internal preferences, the people said, citing Chandra as having informed the directors.
That uncertainty weighs heavily on the Shapoorji Pallonji Group. Any delay in an IPO effectively closes off a potential liquidity window for the debt-laden conglomerate, which has struggled with financial stress exacerbated by the pandemic. Its stake in Tata Sons remains illiquid, making a resolution critical to its debt-reduction plans.

While Chandra enjoys strong support from the Indian government — earned through execution of high-stakes national projects such as semiconductor fabrication and mobile manufacturing — Noel Tata draws strength from a different source: the deep-rooted confidence and blessings of the Parsi community whose members have controlled the Tata Group since its inception in 1868.

Appointed in 2017 to steady the ship after the ouster of Cyrus Mistry, Chandra has done more than just restore confidence. Under his leadership, revenue for the group’s 15 largest listed entities has nearly doubled while their profits have more than doubled.

His tenure is also defined by high-stakes ambition, from launching India’s first homegrown semiconductor plant to navigating TCS through the volatile rise of artificial intelligence to turning around the unprofitable carrier, Air India.

“Nothing changes,” Chandra said Tuesday, when asked about the immediate impact on Tata Group’s leadership, before his car pulled away.

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Shurgard Self Storage Ltd (SSSAF) Q4 2025 Earnings Call February 26, 2026 4:00 AM EST

Company Participants

Caroline Thirifay – Director of Investor Relations
Marc Oursin – CEO & Director
Thomas Oversberg – Chief Financial Officer
Isabel Neumann – Chief Investment & Operating Officer

Conference Call Participants

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Jonathan William Coubrough – Deutsche Bank AG, Research Division
Andres Toome – Green Street Advisors, LLC, Research Division
Valerie Jacob Guezi – Bernstein Institutional Services LLC, Research Division
Vincent Koppmair – Banque Degroof Petercam S.A., Research Division
Aakanksha Anand – Citigroup Inc., Research Division
Ana Taborga – Morgan Stanley, Research Division
Roy Külter – ODDO BHF Corporate & Markets, Research Division

Presentation

Caroline Thirifay
Director of Investor Relations

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Good morning, everyone. Thank you for joining us today, both in person and virtually for the management presentation of our full year results 2025. I’m here with Marc Oursin, CEO; Thomas Oversberg, CFO; and Isabel Neumann, Chief Investment Officer and Chief Operating Officer.

Before we begin, we want to remind you that all statements other than statements of historical fact included in this management presentation are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected by the statements. These risks and other factors could adversely affect our business and future results that are described in our earnings release and in our publicly reported information.

With that, I will hand over to Marc.

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Marc Oursin
CEO & Director

Thank you, Caroline. Hello, good morning to all of you. Thank you for being here. So let’s start with this page, Page #2. So you can see that we have, at the end of ’25, close to 350 properties in Europe and reaching almost 1.8 million square meter of footage.

Regarding the performance of the year, we have delivered another very strong one. Our revenues grew

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