Conviction & evidence · 2026-08-05 Variant D — one row per finding, horizons inline basis invested_capital
Findings
29
from 96 scored rows
Term-structure splits
15
horizons disagree — the findings
Parcels
22
distinct documents
Publishers
6
houses read
Emerging
41
26 name a holding
Inverted
10
research against the book

Conviction grid

short
medium
long
future
AI
+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 ◆
+0.17 · 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.

Findings — 29 rows, all 96 scored readings

Each row is one document's reading of one sub-theme. The four marks are short / medium / long / future: ▲ bull · — neutral · ▼ bear · · not scored. Rows where the horizons disagree are marked; that disagreement is the finding. Nothing is averaged and nothing is dropped.

MajorSub-themePublisherS  M  L  FRangeFund signWt %TickersCites
AIai-capexS&T·+0.50aligned11.3KOSPISPX5
Power Generationasia-refining-marginsJP Morgan·+0.50aligned4.6EEMILFJPKBWEFTMCXUKX6
Power Generationai-hyperscaler-power-demandGoldman Sachs-0.50 … +0.50invertedCEGNRGVST7
Power Generationindependent-power-producer-scarcity-valueGoldman Sachs-0.50 … +0.50aligned5.9CEGNRGVST7
Power Generationdelaware-basin-lease-acreageGoldman Sachs+0.00 … +0.50aligned2.0DVN4
Power Generationcost-of-supply-economicsGoldman Sachs·-0.50 … +0.00aligned4.6EOG4
AIai-capexS&T·+0.00 … +0.50aligned11.33
Energy InfrastructureelectrificationJP Morgan·-0.50 … +0.50aligned3.8AUTO LNNEX FP3
AIai-capexGoldman Sachs+0.50aligned11.30005.HKAMDHSBA.LMMYT4
Power Generationus-iran-strait-of-hormuz-dealMizuho··-0.50 … +0.50aligned4.65
Mineralschina-central-bank-buyingThe Market Ear·+0.50aligned63.4GLDGVZ6
Mineralsgold-breakoutThe Market Ear·+0.50aligned32.1GLDGVZ6
Mineralssilver-squeezeThe Market Ear··+0.50aligned7.9DXYSLVVXSLV3
Power Generationmiddle-east-disruption-exposureGoldman Sachs·+0.50aligned4.6BPBP.L7
Power Generationrefining-margin-strengthGoldman Sachs·+0.50aligned4.6BPBP.L7
Power Generationai-data-center-demandGoldman Sachs+0.50aligned3.8CEGNRGVST7
Power Generationpjm-capacity-upratesGoldman Sachs+0.50aligned4.6CEGNRGVST7
Power Generationgas-turbine-capacity-expansionGoldman Sachs▲▲▲▲+0.50 … +1.00aligned5.9ENR1N.DE4
Energy Infrastructuregrid-technologies-backlog-growthGoldman Sachs▲▲▲▲+0.50 … +1.00aligned3.5ENR1N.DE4
Power Generationrefining-marginsGoldman Sachs+0.00 … +0.50aligned4.6SU5
Mineralsrare-earths-brook-mine-economicsGoldman Sachs-0.50 … +0.50aligned63.4METC6
Power Generationasia-refining-marginsJP Morgan··+0.50aligned4.6AMZNGOOGIGVILFNVDA8
AIhyperscaler-capex-roiJP Morgan··+0.50invertedAMZNGOOGIGVILFNVDA8
Energy InfrastructureelectrificationGoldman Sachs-0.50 … +0.50aligned3.8ULS4
Power Generationai-hyperscaler-power-demandGoldman Sachs+0.00 … +0.50invertedCEGNRGVST7
Power Generationpjm-capacity-upratesGoldman Sachs+0.00 … +0.50aligned4.6CEGNRGVST7
AIsemiconductor-and-data-center-capexGoldman Sachs·+0.50aligned9.7ROK3
AIamd-mi-4xx-gpu-rampGoldman Sachs-0.50 … +0.50aligned11.3AMD4
Power Generationus-iran-strait-of-hormuz-dealTS Lombard··+0.50aligned4.6EUR/NOKEWJFEZUSD/TRY5