Cap scan C — uncapped — every scored row

Conviction & evidence · 2026-08-05 Variant C — uncapped — every scored row basis invested_capital

Evidence rows shown

of 96 scored

Grid cells

4 majors × 4 horizons

Parcels

distinct documents

Publishers

houses read

Emerging

26 name a holding

Rows inverted

research against the book

Conviction grid

short

medium

long

future

+0.30 · 5d ◆

+0.42 · 6d

+0.40 · 5d

+0.50 · 3d

Energy Infrastructure

+0.17 · 3d

+0.00 · 2d ◆

+0.33 · 3d ◆

+0.67 · 3d

Minerals

+0.17 · 3d ◆

+0.50 · 2d

+0.00 · 1d

Power Generation

+0.32 · 11d ◆

+0.23 · 11d ◆

+0.39 · 9d ◆

+0.44 · 8d

Signed conviction per major × horizon · Nd = documents scored · ◆ = houses contested (majority direction not settled). 16 cells; the panel shipped 4.

Per-major row budget

Power Generation — 54 shown / 54 scored

AI — 19 shown / 19 scored

Minerals — 12 shown / 12 scored

Energy Infrastructure — 11 shown / 11 scored

Evidence — 96 rows

Major	Sub-theme	Publisher	Hor.	Signal	Conv.	Fund sign	Wt %	Tickers	Cites
AI	ai-capex	S&T	long	bull	+0.50	aligned	11.3	KOSPISPX	2
AI	ai-capex	S&T	medium	bull	+0.50	aligned	11.3	KOSPISPX	1
AI	ai-capex	S&T	short	bull	+0.50	aligned	11.3	KOSPISPX	2
Power Generation	asia-refining-margins	JP Morgan	long	bull	+0.50	aligned	4.6	EEMILFJPKBWEFTMCXUKX	3
Power Generation	asia-refining-margins	JP Morgan	medium	bull	+0.50	aligned	4.6	EEMILFJPKBWEFTMCXUKX	1
Power Generation	asia-refining-margins	JP Morgan	short	bull	+0.50	aligned	4.6	EEMILFJPKBWEFTMCXUKX	2
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	future	bull	+0.50	inverted	—	CEGNRGVST	2
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	long	bull	+0.50	inverted	—	CEGNRGVST	2
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	medium	neutral	+0.00	inverted	—	CEGNRGVST	1
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	short	bear	-0.50	inverted	—	CEGNRGVST	2
Power Generation	independent-power-producer-scarcity-value	Goldman Sachs	future	bull	+0.50	aligned	5.9	CEGNRGVST	2
Power Generation	independent-power-producer-scarcity-value	Goldman Sachs	long	bull	+0.50	aligned	5.9	CEGNRGVST	2
Power Generation	independent-power-producer-scarcity-value	Goldman Sachs	medium	neutral	+0.00	aligned	5.9	CEGNRGVST	1
Power Generation	independent-power-producer-scarcity-value	Goldman Sachs	short	bear	-0.50	aligned	5.9	CEGNRGVST	2
Power Generation	delaware-basin-lease-acreage	Goldman Sachs	future	bull	+0.50	aligned	2.0	DVN	1
Power Generation	delaware-basin-lease-acreage	Goldman Sachs	long	bull	+0.50	aligned	2.0	DVN	1
Power Generation	delaware-basin-lease-acreage	Goldman Sachs	medium	neutral	+0.00	aligned	2.0	DVN	1
Power Generation	delaware-basin-lease-acreage	Goldman Sachs	short	bull	+0.50	aligned	2.0	DVN	1
Power Generation	cost-of-supply-economics	Goldman Sachs	future	neutral	+0.00	aligned	4.6	EOG	1
Power Generation	cost-of-supply-economics	Goldman Sachs	long	bear	-0.50	aligned	4.6	EOG	1
Power Generation	cost-of-supply-economics	Goldman Sachs	short	bear	-0.50	aligned	4.6	EOG	2
AI	ai-capex	S&T	long	neutral	+0.00	aligned	11.3	—	1
AI	ai-capex	S&T	medium	neutral	+0.00	aligned	11.3	—	1
AI	ai-capex	S&T	short	bull	+0.50	aligned	11.3	—	1
Energy Infrastructure	electrification	JP Morgan	future	bull	+0.50	aligned	3.8	AUTO LNNEX FP	1
Energy Infrastructure	electrification	JP Morgan	long	bear	-0.50	aligned	3.8	AUTO LNNEX FP	1
Energy Infrastructure	electrification	JP Morgan	short	neutral	+0.00	aligned	3.8	AUTO LNNEX FP	1
AI	ai-capex	Goldman Sachs	future	bull	+0.50	aligned	11.3	0005.HKAMDHSBA.LMMYT	1
AI	ai-capex	Goldman Sachs	long	bull	+0.50	aligned	11.3	0005.HKAMDHSBA.LMMYT	1
AI	ai-capex	Goldman Sachs	medium	bull	+0.50	aligned	11.3	0005.HKAMDHSBA.LMMYT	1
AI	ai-capex	Goldman Sachs	short	bull	+0.50	aligned	11.3	0005.HKAMDHSBA.LMMYT	1
Power Generation	us-iran-strait-of-hormuz-deal	Mizuho	medium	bear	-0.50	aligned	4.6	—	1
Power Generation	us-iran-strait-of-hormuz-deal	Mizuho	short	bull	+0.50	aligned	4.6	—	4
Minerals	china-central-bank-buying	The Market Ear	long	bull	+0.50	aligned	63.4	GLDGVZ	2
Minerals	china-central-bank-buying	The Market Ear	medium	bull	+0.50	aligned	63.4	GLDGVZ	2
Minerals	china-central-bank-buying	The Market Ear	short	bull	+0.50	aligned	63.4	GLDGVZ	2
Minerals	gold-breakout	The Market Ear	long	bull	+0.50	aligned	32.1	GLDGVZ	2
Minerals	gold-breakout	The Market Ear	medium	bull	+0.50	aligned	32.1	GLDGVZ	2
Minerals	gold-breakout	The Market Ear	short	bull	+0.50	aligned	32.1	GLDGVZ	2
Minerals	silver-squeeze	The Market Ear	medium	bull	+0.50	aligned	7.9	DXYSLVVXSLV	1
Minerals	silver-squeeze	The Market Ear	short	bull	+0.50	aligned	7.9	DXYSLVVXSLV	2
Power Generation	middle-east-disruption-exposure	Goldman Sachs	future	bull	+0.50	aligned	4.6	BPBP.L	4
Power Generation	middle-east-disruption-exposure	Goldman Sachs	long	bull	+0.50	aligned	4.6	BPBP.L	2
Power Generation	middle-east-disruption-exposure	Goldman Sachs	medium	bull	+0.50	aligned	4.6	BPBP.L	1
Power Generation	refining-margin-strength	Goldman Sachs	future	bull	+0.50	aligned	4.6	BPBP.L	4
Power Generation	refining-margin-strength	Goldman Sachs	long	bull	+0.50	aligned	4.6	BPBP.L	2
Power Generation	refining-margin-strength	Goldman Sachs	medium	bull	+0.50	aligned	4.6	BPBP.L	1
Power Generation	ai-data-center-demand	Goldman Sachs	future	bull	+0.50	aligned	3.8	CEGNRGVST	2
Power Generation	ai-data-center-demand	Goldman Sachs	long	bull	+0.50	aligned	3.8	CEGNRGVST	3
Power Generation	ai-data-center-demand	Goldman Sachs	medium	bull	+0.50	aligned	3.8	CEGNRGVST	1
Power Generation	ai-data-center-demand	Goldman Sachs	short	bull	+0.50	aligned	3.8	CEGNRGVST	1
Power Generation	pjm-capacity-uprates	Goldman Sachs	future	bull	+0.50	aligned	4.6	CEGNRGVST	2
Power Generation	pjm-capacity-uprates	Goldman Sachs	long	bull	+0.50	aligned	4.6	CEGNRGVST	3
Power Generation	pjm-capacity-uprates	Goldman Sachs	medium	bull	+0.50	aligned	4.6	CEGNRGVST	1
Power Generation	pjm-capacity-uprates	Goldman Sachs	short	bull	+0.50	aligned	4.6	CEGNRGVST	1
Power Generation	gas-turbine-capacity-expansion	Goldman Sachs	future	strong-bull	+1.00	aligned	5.9	ENR1N.DE	1
Power Generation	gas-turbine-capacity-expansion	Goldman Sachs	long	strong-bull	+1.00	aligned	5.9	ENR1N.DE	1
Power Generation	gas-turbine-capacity-expansion	Goldman Sachs	medium	bull	+0.50	aligned	5.9	ENR1N.DE	1
Power Generation	gas-turbine-capacity-expansion	Goldman Sachs	short	bull	+0.50	aligned	5.9	ENR1N.DE	1
Energy Infrastructure	grid-technologies-backlog-growth	Goldman Sachs	future	strong-bull	+1.00	aligned	3.5	ENR1N.DE	1
Energy Infrastructure	grid-technologies-backlog-growth	Goldman Sachs	long	strong-bull	+1.00	aligned	3.5	ENR1N.DE	1
Energy Infrastructure	grid-technologies-backlog-growth	Goldman Sachs	medium	bull	+0.50	aligned	3.5	ENR1N.DE	1
Energy Infrastructure	grid-technologies-backlog-growth	Goldman Sachs	short	bull	+0.50	aligned	3.5	ENR1N.DE	1
Power Generation	refining-margins	Goldman Sachs	future	neutral	+0.00	aligned	4.6	SU	1
Power Generation	refining-margins	Goldman Sachs	long	neutral	+0.00	aligned	4.6	SU	2
Power Generation	refining-margins	Goldman Sachs	medium	neutral	+0.00	aligned	4.6	SU	1
Power Generation	refining-margins	Goldman Sachs	short	bull	+0.50	aligned	4.6	SU	1
Minerals	rare-earths-brook-mine-economics	Goldman Sachs	future	neutral	+0.00	aligned	63.4	METC	2
Minerals	rare-earths-brook-mine-economics	Goldman Sachs	long	bull	+0.50	aligned	63.4	METC	1
Minerals	rare-earths-brook-mine-economics	Goldman Sachs	medium	bear	-0.50	aligned	63.4	METC	1
Minerals	rare-earths-brook-mine-economics	Goldman Sachs	short	bear	-0.50	aligned	63.4	METC	2
Power Generation	asia-refining-margins	JP Morgan	medium	bull	+0.50	aligned	4.6	AMZNGOOGIGVILFNVDA	4
Power Generation	asia-refining-margins	JP Morgan	short	bull	+0.50	aligned	4.6	AMZNGOOGIGVILFNVDA	4
AI	hyperscaler-capex-roi	JP Morgan	medium	bull	+0.50	inverted	—	AMZNGOOGIGVILFNVDA	4
AI	hyperscaler-capex-roi	JP Morgan	short	bull	+0.50	inverted	—	AMZNGOOGIGVILFNVDA	4
Energy Infrastructure	electrification	Goldman Sachs	future	bull	+0.50	aligned	3.8	ULS	1
Energy Infrastructure	electrification	Goldman Sachs	long	bull	+0.50	aligned	3.8	ULS	1
Energy Infrastructure	electrification	Goldman Sachs	medium	bear	-0.50	aligned	3.8	ULS	1
Energy Infrastructure	electrification	Goldman Sachs	short	neutral	+0.00	aligned	3.8	ULS	1
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	future	bull	+0.50	inverted	—	CEGNRGVST	2
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	long	bull	+0.50	inverted	—	CEGNRGVST	2
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	medium	neutral	+0.00	inverted	—	CEGNRGVST	1
Power Generation	ai-hyperscaler-power-demand	Goldman Sachs	short	bull	+0.50	inverted	—	CEGNRGVST	2
Power Generation	pjm-capacity-uprates	Goldman Sachs	future	bull	+0.50	aligned	4.6	CEGNRGVST	2
Power Generation	pjm-capacity-uprates	Goldman Sachs	long	bull	+0.50	aligned	4.6	CEGNRGVST	2
Power Generation	pjm-capacity-uprates	Goldman Sachs	medium	neutral	+0.00	aligned	4.6	CEGNRGVST	1
Power Generation	pjm-capacity-uprates	Goldman Sachs	short	bull	+0.50	aligned	4.6	CEGNRGVST	2
AI	semiconductor-and-data-center-capex	Goldman Sachs	future	bull	+0.50	aligned	9.7	ROK	1
AI	semiconductor-and-data-center-capex	Goldman Sachs	long	bull	+0.50	aligned	9.7	ROK	1
AI	semiconductor-and-data-center-capex	Goldman Sachs	medium	bull	+0.50	aligned	9.7	ROK	1
AI	amd-mi-4xx-gpu-ramp	Goldman Sachs	future	bull	+0.50	aligned	11.3	AMD	1
AI	amd-mi-4xx-gpu-ramp	Goldman Sachs	long	bull	+0.50	aligned	11.3	AMD	1
AI	amd-mi-4xx-gpu-ramp	Goldman Sachs	medium	bull	+0.50	aligned	11.3	AMD	1
AI	amd-mi-4xx-gpu-ramp	Goldman Sachs	short	bear	-0.50	aligned	11.3	AMD	1
Power Generation	us-iran-strait-of-hormuz-deal	TS Lombard	medium	bull	+0.50	aligned	4.6	EUR/NOKEWJFEZUSD/TRY	2
Power Generation	us-iran-strait-of-hormuz-deal	TS Lombard	short	bull	+0.50	aligned	4.6	EUR/NOKEWJFEZUSD/TRY	3