Summary

• Our preferences in the consumer-oriented sectors lean toward value-oriented or specialty retailers, franchise models, premium brands, or support services for other consumer companies.
• We aim to find companies that are either low-cost exploration and production companies with high-yielding fields, or specialized service providers.
• In the Financials sector, we tend to avoid banks experiencing credit deterioration or rising deposit costs, preferring asset managers, specialized insurance companies, or financial technology providers.
• Our preferences among Health Care stocks are those companies providing novel therapies for unmet needs that command premium pricing, or specialized service providers.

Representative Commentary — 1Q26

34 Followers