To The Moon

3.8% Dividend Yield.DAC has 15 new methanol-fueled container ships under construction, all pre-contracted upon delivery, representing 27.2% capacity expansion set to fuel growth.DAC operates an 84-ship fleet with 471,500 Twenty Foot Equivalent (TEUs) of containerized capacity and 1,760,861 DWT of dry-bulk capacity.Excluding new ship construction capex, DAC generated $572.4 million in trailing twelve-month free cash flow.The company has 99% of operating days contracted through 2025 and 85% through 2026 giving the company great visibility.Investment Thesis $Danaos(DAC)$ is a tonnage-provider and non-operating owner of container ships and dry-bulk ships. Across its 84-ship fleet it has 471,500 TEUs of containerized capacity and 1,760,861 DWT (dry weig

$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $Dow Jones(.DJI)$ $iShares 20+ Year Treasury Bond ETF(TLT)$ $Gold - main 2508(GCmain)$ $WTI Crude Oil - main 2508(CLmain)$ OverviewEquity markets have recovered more than 20% from April’s downturn. However, the market appears to be somewhat stalled, up just 5.7% year to date, with most of that occurring in the latter part of June thanks to the Israel-Iran cea

Flutter’s FanDuel and DraftKings command a combined 66.1% market share in the $117 billion US sports betting market.DraftKings is guiding to 30% revenue growth for 2025, with adjusted EBITDA margins expanding from 3.8% to 13.5%.Flutter projects 28% US revenue growth for 2025, with adjusted EBITDA margins expanding to 15.2% from 8.7%.DraftKings expects net debt-to-adjusted EBITDA to decline below 1.5x by year-end 2025, with potential free cash flow positive achievement during the year.Flutter is already free cash positive, generating $805 million during 2024, with a net debt to adjusted EBITDA of 1.4x with $3.5 billion in cash on hand.Investment Thesis $Flutter Entertainment PLC(FLUT)$ and $DraftKings Inc.(DKN

Shift4 is a fully integrated payment processor targeting underserved verticals like hospitality, restaurants and events.Management is guiding to >30% compound annual revenue growth to 2028 with at least 300bps of operating margin expansion.Shift4’s acquisition of Global Blue will accelerate European expansion and onboards a luxury-focused book of business.Global Blue holds a 70% market share in VAT refunds in Europe, with customers concentrated in luxury retail including LVMH and Burberry with an average customer relationship of over 20 years.Global Blue also holds a 20% market share in point-of-sale currency exchange in the EU, a 96.3% gross margin business.Shift4’s point-of-sale system maintains the highest customer satisfaction rate in the restaurant industry, with 99% restaurant ret

Increased capital expenditure to $75 billion in 2025 in order to expand Google Cloud’s infrastructure, positioning the company for continued AI and cloud growth.Alphabet’s proprietary Tensor Processing Units (TPU) infrastructure provides significant cost advantages over competitors who rely on expensive Nvidia chips.AI tools are proving complementary rather than competitive to search, with hyper-specific AI queries creating new monetization opportunities through better ad targeting.Antitrust remedies like Chrome divestiture are technically impractical and would be punitive rather than beneficial to consumers, making them unlikely to succeed.The company maintains a fortress balance sheet with $95.7 billion in cash and  $72.8 billion in annual free cash flow generation.Investment Thesis

RH has transformed from mid-market furniture retailer to luxury lifestyle brand through opulent flagship galleries and integrated hospitality.Expects return to positive free cash flow during 2025, as well as 10-13% revenue growth despite tariff and macroeconomic impacts.The stock has collapsed 37.9% over trailing twelve months as markets fixate on short-term European execution risk and tariff pressures.RH’s rejection of digital advertising in favor of curated print Sourcebooks creates authentic demand that resonates with demographics fatigued by ubiquitous e-commerce strategiesAsset-light expansion model with landlords funding large portions of buildout costs through sale-leaseback structures enables geographic scaling without capital intensityInvestment Thesis

5.67% Dividend Yield$120m pipeline project should increase realizations in New Mexico as well as unlock the potential of the newly acquired Silverback II assets.Power generation JV expansion to 56% of Texas field and the introduction of similar generation in New Mexico reduces costs by using low-value byproduct gas.2025’s focus will be on expanding the undeveloped asset base rather than new drills while hydrocarbon prices are depressed.Strong balance sheet with breakeven in the mid $30 range and an estimated net debt to EBITDA of 1.3x post-acquisition close.Investment Thesis $Riley Exploration Permian(REPX)$ is a Permian pure player, with a 60-40 oil-gas split for production. Across 78,600 acres, and a planned acquisition of an additional 47,000,

4.64% Dividend YieldManagement has initiated a 24-month plan to eliminate Chinese manufacturing dependency, increase USMCA compliance for Mexican operations, and implement targeted price increases.Strong brand recognition with DeWalt, Craftsman, Stanley, with a renewed focus on the professional sector.Expects over $500 million in free cash during 2025 despite tariffs.Aggressive transformation, with a long-term target of 35% gross margin (currently 30.2%) and 16% EBITDA margin (currently 9.8%).Investment Thesis $Stanley Black & Decker(SWK)$ is the largest hand-tool providers in the world, with brands such as DeWalt, Craftsman, Stanley, and Black and Decker.On a year-to-date basis SWK has been hammered losing 10.84%, largely due to 50% of its sup

4.35% Dividend YieldSFD maintains strong financial health with a 0.7x debt-to-EBITDA ratio, $928 million cash on hand, and no major debt payments until 2027.The company plans $400-500 million in capex for 2025, split between maintenance and operational improvements focused on automation.The company has already cut 20% of its herd size since December 2024, with the goal of internally producing only 30% of needed hogs to stabilize margins across commodity cycles.Despite export challenges, the USDA only expects a 2% drop in overall pork trade, and low storage levels may limit pricing pressures from oversupply in the domestic market.Investment Thesis $Smithfield Foods Inc.(SFD)$ is a producer and processor of pork, and is the largest producer of pork b

OverviewIn the current era of economic uncertainty, mounting US deficit, tariff effects, and geopolitical instability we maintain a position in gold $Gold - main 2506(GCmain)$ and gold miners in our portfolios. We believe that gold serves as a critical hedge against all of these headwinds.Unlike long-term bonds that suffer real-term erosion during inflationary periods, or equities vulnerable to margin compression from rising input costs, gold maintains its real value over time. Gold’s multi-millennia history as a store of value is not mere tradition, it reflects gold’s unique scarcity as an asset uncorrelated to government policy and immune to the debt spirals now threatening many developed economies.A Brief History of Gold as MoneyThe idea be