Insights

Credit Rating 13Fs: Moody's, S&P Global, FICO, MSCI Decoder

Crypto-Adjacent 13Fs: Coinbase, MicroStrategy, Marathon Decoder

Coinbase, MicroStrategy, Marathon Digital, Riot Platforms, and CleanSpark anchor US crypto-adjacent equity 13F positioning. Bitcoin treasury strategy, exchange fee economics, mining hashrate dynamics, and regulatory framework cycles drive distinctive institutional patterns.

Steel 13Fs: Nucor, Steel Dynamics, Cleveland-Cliffs Decoder

Nucor, Steel Dynamics, Cleveland-Cliffs, Commercial Metals, and U.S. Steel anchor US steel 13F positioning. Mini-mill vs integrated economics, infrastructure plus reshoring demand, scrap-and-iron-ore pricing dynamics, and trade policy drive distinctive institutional patterns.

Railroad Equipment 13Fs: Wabtec, Greenbrier, Trinity Decoder

Wabtec, Greenbrier Companies, Trinity Industries, and Wabash National anchor US railroad equipment 13F positioning. Locomotive replacement cycles, rail car build cycles, aftermarket maintenance economics, and emerging hydrogen locomotive technology drive distinctive institutional patterns.

Electrical Equipment 13Fs: Emerson, Rockwell, Hubbell, Eaton

Emerson Electric, Rockwell Automation, Hubbell, Eaton Corporation, and Generac Holdings anchor US electrical equipment 13F positioning. Grid electrification investment, factory automation cycles, data center electrical infrastructure, and capital allocation drive distinctive institutional patterns.

Aerospace Supplier 13Fs: TransDigm, Howmet, HEICO Decoder

TransDigm, Howmet Aerospace, HEICO, Curtiss-Wright, and Moog anchor US aerospace supplier 13F positioning. Aftermarket high-margin economics, commercial aerospace cycle, defense plus space exposure, and proprietary component franchises drive distinctive institutional patterns.

Staffing 13Fs: ManpowerGroup, Robert Half, Kforce Decoder

ManpowerGroup, Robert Half International, Kforce, Heidrick & Struggles, and ASGN anchor US staffing and professional services 13F positioning. Labor market cycles, specialty staffing premium economics, executive search dynamics, and AI disruption drive distinctive institutional patterns.

Pump & Flow 13Fs: Flowserve, A.O. Smith, Watts Decoder

Flowserve, A.O. Smith, Watts Water Technologies, Xylem, and Roper Technologies anchor US pump, flow, and water 13F positioning. Industrial process cycle exposure, water infrastructure investment, residential water heater replacement, and emerging hydrogen pump demand drive distinctive institutional patterns.

Copper Mining 13Fs: Freeport, Southern Copper, Antofagasta

Freeport-McMoRan, Southern Copper, Antofagasta, BHP Group, and Rio Tinto anchor US-traded copper mining 13F positioning. Long-cycle copper demand from electrification, multi-year supply constraints, smelter capacity dynamics, and geopolitical exposure drive distinctive institutional patterns.

Industrial Distribution 13Fs: Fastenal, Grainger, MSC Decoder

Fastenal, W.W. Grainger, MSC Industrial Direct, HD Supply, and Distribution Plus anchor US industrial distribution 13F positioning. MRO market dynamics, e-commerce platform evolution, supply chain digitization, and customer share-of-wallet drive distinctive institutional patterns.

HVAC 13Fs: Carrier, Trane Technologies, JCI, Lennox Decoder

Carrier Global, Trane Technologies, Johnson Controls International, Lennox International, and Watsco anchor US HVAC 13F positioning. Data center cooling demand, refrigerant transition cycles, residential replacement demand, and capital allocation drive distinctive institutional patterns.

Coatings 13Fs: Sherwin-Williams, PPG, RPM International

Sherwin-Williams, PPG Industries, RPM International, Axalta Coating Systems, and AkzoNobel anchor US-traded coatings 13F positioning. Architectural versus industrial mix, housing cycle exposure, automotive refinish dynamics, and capital allocation drive distinctive institutional patterns.

Weight Management 13Fs: Hims, WeightWatchers, Novo Nordisk

Hims & Hers Health, WW International (formerly WeightWatchers), Novo Nordisk (NVO ADR), Eli Lilly (LLY), and Roche anchor US-traded weight management 13F positioning. GLP-1 therapy economics, telehealth disruption, traditional program decline, and compounding pharmacy dynamics drive distinctive institutional patterns.

May 15, 2026

Fintech 13Fs: PayPal, Block, Affirm, SoFi Decoder

PayPal, Block (formerly Square), Affirm Holdings, SoFi Technologies, and Robinhood Markets anchor US fintech 13F positioning. Payment volume cycles, buy-now-pay-later economics, lending portfolio dynamics, and customer acquisition drive distinctive institutional patterns.

Semiconductor Foundry 13Fs: TSMC, GlobalFoundries, UMC Decoder

Taiwan Semiconductor Manufacturing (TSMC), GlobalFoundries, United Microelectronics, plus emerging Samsung Foundry and Intel Foundry Services anchor US-traded semiconductor foundry 13F positioning. Process node leadership, customer concentration, geopolitical risk, and capex cycles drive distinctive institutional patterns.

RV 13Fs: Thor Industries, Winnebago, LCI, Camping World

Thor Industries, Winnebago Industries, LCI Industries, Camping World Holdings, and Patrick Industries anchor US recreational vehicle 13F positioning. Dealer inventory cycles, consumer demand cyclicality, RV park investment, and demographic transitions drive distinctive institutional patterns.

Jewelry 13Fs: Signet, Tiffany (LVMH), Pandora Decoder

Signet Jewelers, Tiffany & Co (LVMH subsidiary), Pandora, plus emerging lab-grown diamond operators anchor US jewelry 13F positioning. Wedding and engagement cycle dynamics, lab-grown diamond disruption, premium-vs-mass-market positioning, and consumer discretionary cycle drive distinctive patterns.

Timber REIT 13Fs: Weyerhaeuser, Rayonier, PotlatchDeltic Decoder

Weyerhaeuser, Rayonier, PotlatchDeltic, and Plum Creek Timber (now Weyerhaeuser) anchor US timber REIT 13F positioning. Lumber pricing cycles, timberland acreage economics, conservation easement plus carbon credit emerging revenue, and housing cycle exposure drive distinctive patterns.

Home Furniture 13Fs: Williams-Sonoma, RH, Wayfair Decoder

Williams-Sonoma, RH (Restoration Hardware), Wayfair, Floor & Decor, and La-Z-Boy anchor US home furniture and decor 13F positioning. Housing cycle exposure, premium-vs-mass-market mix, DTC channel economics, and capital allocation drive distinctive institutional patterns.

Truck OEM 13Fs: PACCAR, Oshkosh, Allison Transmission

PACCAR, Oshkosh, Allison Transmission, Cummins, and emerging Daimler Trucks anchor US truck and commercial vehicle 13F positioning. Class 8 truck cycle, defense and specialty vehicle exposure, emission regulation cycles, and electrification drive distinctive institutional patterns.