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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q4 | Jan 16, 2026 | Bison Energy Opportunity Fund, L.P. | 0.0% | 0.0% | OIH, PSCE, XLE, XOP | cycle, energy, Natural Gas, oil, small cap, underinvestment, value | Oil markets are in a cyclical low with structural underinvestment creating future supply constraints. Global oil and gas investment has declined 35% since 2014 while demand continues growing at 1% annually. US inventories are at ten-year lows and global days of supply remain below long-term averages, increasing sensitivity to supply disruptions. Natural gas demand is expected to increase significantly from AI data centers requiring electricity and LNG export facility buildouts. Data centers will consume large amounts of electricity primarily met by natural gas fired power plants. LNG facilities create steady demand for local gas through profitable regional arbitrage to higher priced international markets. The energy transition is driving increased electricity demand from AI data centers and creating opportunities in natural gas as a bridge fuel. Power needs for AI infrastructure are expected to be met primarily by natural gas fired power plants, supporting local gas producers. The fund focuses on deeply undervalued securities trading at discounts to proved reserves and offering high free cash flow yields. Portfolio companies trade at 1-4x EBITDA with 15-40% FCF yields compared to energy indices at 3-8x EBITDA with 5-15% FCF yields. Investments offer substantial discounts to public and private comparables. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||