This month, Senior Portfolio Manager Rob Thummel and Research Analyst Hunter Wilcox highlight key themes shaping the energy sector:

This month, Head of Investments Matt Sallee covers key energy market developments:

• Market Performance: Energy leads the S&P; midstream delivers strong gains.
• Weather Impacts: Winter Storm Fern drives price spikes, production losses.
• Infrastructure Strain: PJM proposes reforms amid supply shortfalls.
• Capex Surge: AI demand fuels infrastructure, power, and gas pipeline growth.
• Earnings Season: Positive results from OFS, power turbine, and gas names.
• M&A: Devon and Coterra announce $58B merger in the Delaware Basin.

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This month, Senior Portfolio Manager James Mick recaps energy market performance and explores emerging themes for the year ahead:

• 2025 Recap: Energy equities ended strong despite a 20% drop in crude.
• Midstream & Majors: Outperformed as oil correlations continued to decline.
• Venezuela: Regime change raises questions—but infrastructure challenges remain.
• Geopolitics: U.S.–China tensions may flare over crude trade dynamics.
• 2026 Themes: Humanoid robots, affordability concerns, and nuclear momentum.

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This month, Senior Portfolio Manager Brian Kessens breaks down key energy sector themes:

• Market Moves: Energy and midstream outperform the S&P 500
• Natural Gas: Prices rise on colder weather expectations and controlled production
• Crude Outlook: Brent as OPEC+ cuts kick in
• DOE & AI: AI project aims to fast-track energy innovation
• Permitting Shift: NE states greenlight long-stalled pipeline infrastructure

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This month, Senior Portfolio Manager Rob Thummel covers the latest market shifts:

• Market Recap: Energy dips while the S&P 500 hits near-record highs
• Permian Update: U.S. production grows despite weaker oil prices
• Energy Infrastructure: Positioned for long-term demand from AI and LNG
• AI Capex: Big Tech raises 2025 spending forecasts to $335B
• Utilities: Growth estimates climb with data center load forecasts
• Power Buildout: Behind-the-meter energy projects on the rise

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This month, Head of Investments Matt Sallee shares timely insights into the energy sector’s evolving landscape:

• Market Moves: S&P gains 8% in Q3; energy and utilities keep pace.
• Midstream Check: Trails early in Q3, rebounds to end slightly positive.
• Capital Markets: Energy infrastructure IPO activity gains traction.
• Strategic Deals: Sempra sharpens focus, secures $10B via asset sale.
• AI Infrastructure: Oracle and Stargate plans total over $800B in projects.
• Power Demand: 10 GW of new capacity targeted—nearly NYC’s peak usage.

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This month, Senior Portfolio Manager James Mick covers key energy developments:

• Market Performance: Energy equities stay resilient despite crude and gas weakness
• Midstream Activity: Strategic M&A gains steam in the Permian
• Natural Gas Buildout: Project momentum grows with new pipelines and power demand
• Capex Outlook: Sector investment ramps to support AI-driven energy use
• AI Infrastructure: Nvidia forecasts $3–4T in AI-related capex through 2030

Listen in for a timely market update and energy sector insights.

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This month, Senior Portfolio Manager Brian Kessens highlights key themes driving the energy sector:

• Market Performance: Utilities lead; energy and power sectors outperform.
• Midstream Earnings: Beats from TC Energy, Enbridge; guidance trending higher.
• Capex Outlook: Project pipeline accelerating with stronger permitting support.
• M&A Activity: MPLX and Baker Hughes expand strategically.
• Upstream Trends: More output with less capex; Haynesville picks up steam.
• Power Constraints: Utilities stress grid buildout as AI load growth continues.

Listen in for a timely market update and energy sector insights.

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This month, Senior Portfolio Manager & Market Strategist Rob Thummel shares timely insights on:

• Sector Performance: Utilities and midstream remain standouts
• Geopolitical Risk: Iran-Israel tensions drive sharp swings before stabilizing
• Demand Shift: Why electricity is the new oil
• Capex Highlights: Meta’s new Ohio data center
• Corporate Moves: Cheniere’s LNG capcacity & Plains' $3.75B sale
• M&A Buzz: Shell–BP merger

Listen in for a pulse check on the energy market and implications for investors.

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