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Sometimes it is helpful to listen to earnings calls outside of the traditional energy value chain. We never used to do this in our former ‘traditional’ sell-side seat as we had to deal with too…

EXE reported results post the close today. EXE is one of the largest positions in the Long book of the Survey Portfolio – and the second best weighted performer (since inception in early Nov 2024),…

…if we asked questions on earnings calls (which we don’t, as we prefer more personalized catch-ups with management teams). OKE reported Q1 2025 earnings post close today. Shares are off ~400bps afterhours at the time…

Initial feedback within. Live Q&A at 8AM ET. We maintain the short position in the survey portfolio despite increasing voices the company should sell itself. We do not disagree and have written about this extensively…