Five interesting things that Hodges Capital research analysts discovered this week...

#1 Educational Crypto: The Harvard Management Company, which oversees Harvard’s endowment, made notable shifts in its allocation toward Bitcoin and gold in Q2. HMC purchased roughly $117 million of iShares Bitcoin Trust and $102 million of SPDR Gold Trust. While these are relatively small allocations within the context of the endowment’s broader public equity portfolio, experts suggest a growing number of investors are turning to cryptocurrencies and gold as stores of value amid rising money supply and inflation.

#2 Home Bodies: According to annual Census Bureau surveys, domestic migration rates have fallen to historic lows in 2025, with just 7.9% of Americans moving in the past year. Several factors appear to be driving this decline, including high mortgage rates, rising home prices, and—perhaps most significantly—the expansion of remote work. (Wall Street Journal)

#3 Crystal Ball: FanDuel Sportsbook announced a joint venture with CME Group as it works to launch its own prediction market. The speculative asset class has shown promising growth, with platforms like Kalshi continuing to gain traction among investors. However, many regulators remain hesitant to open the floodgates, as the line between gambling and prediction markets is still heavily blurred. (Reuters)

#4 Up, Down, and Back Again: One of the greatest underdog sports stories of the year is unfolding across the pond. Sunderland AFC was once a fixture in the top tier of English soccer, but financial struggles, management turnover, and controversy led to an eight-year stint in the second and third divisions. The club was purchased in 2021 by Kyril Louis-Dreyfus, then just 23 years old, and has since undergone a remarkable resurgence. As the Premier League kicked off last week, Sunderland made its first top-flight appearance in eight years—securing its first victory of the season. Time will tell if the young ownership can keep this storied club afloat for the long haul.

#5 Hiring Hiatus: In a recent Conference Board survey of more than 1,000 public and private corporations, roughly 20% of respondents said they expect to slow hiring in the second half of 2025—double the share from a year ago. The survey last recorded optimism for increased hiring in Q2 2023. (Wall Street Journal)

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