Middle Coast Investing, an investment advisor firm, released its first-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter explores the concept of 'meme' introduced by Richard Dawkins and its impact on modern stock market trends.
It highlights how memes, such as Large Language Models (LLMs), artificial intelligence (AI), rising gas prices, private credit, and automated driving, play a crucial role in shaping trading decisions and driving quick ideological changes. However, Investment decisions should not be driven by current news cycles or fads, but rather focus on businesses that are resilient in tough times and capable of leveraging their advantages. These principles require discipline, especially in a volatile market environment.
The US portfolio returned -3.9% in the quarter vs. -4.6% for the S&P 500, Core U.S. portfolios returned -4.3% vs the Russell 2000's 0.6% return, S&P 600's 3.1%, and Nasdaq's -7.1% returns. Additionally, European Portfolios returned -2.9% during the same period. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Middle Coast Investing highlighted stocks like F&G Annuities & Life, Inc. (NYSE:FG). F&G Annuities & Life, Inc. (NYSE:FG) is a leading aviation leasing company headquartered in Dublin, Ireland. On April 16, 2026, F&G Annuities & Life, Inc. (NYSE:FG) closed at $26.30 per share.
One-month return of F&G Annuities & Life, Inc. (NYSE:FG) was 14.31%, and its shares lost 22.54% over the past 52 weeks. F&G Annuities & Life, Inc. (NYSE:FG) has a market capitalization of $3.66 billion. Middle Coast Investing stated the following regarding F&G Annuities & Life, Inc. (NYSE:FG) in its Q1 2026 investor letter: "F&G Annuities & Life, Inc. (NYSE:FG) usually trades based on its liabilities – i.e. how attractive its annuities and life insurance policies look to customers, and how much pricing leeway that leaves the company to make money on.
Where interest rates are set becomes a driving factor. But more recently, investors are worried about the company's assets. It partners with Blackstone to invest in 'alternatives', and included in alternatives is private credit.
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