Investments – Thematic Investors

Thematic Investors: Will Homan-Russell on Asset Allocation Strategies in Shipping

By Thematic Investors | October 14, 2024

In this latest episode of Thematic Investors Podcast, host Kieran Cavanna, Chief Investment Officer and Co-Founder, Old Farm Partners is joined by Will Homan-Russell, Chief Investment Officer, WMC Capital. Will brings his expertise on global shipping investment plays and how various market forces can impact the future of this industry.

Each year, there are around 70,000 vessels carrying 12.5 billion tons of goods by sea. These staggering numbers are broken down into carrying containers (between 15-20%) filled with cars and finished products, while the remaining transports carry commodities (80-85%) to keep the world running. These sectors come with specific supply and demand dynamics based on utilization levels, which can be a signal to institutional investors to get involved.

Additional key points that are highlighted in this podcast include:

discover the remarkable evolution of the shipping industry over the past half-century and uncover the key supply and demand dynamics that empower investors to accurately forecast utilization trends and performance.
with current geopolitical tensions running high globally, how does the shipping industry navigate these shocks to the system, and how can allocators take advantage of these investment opportunities?
an exploration of the dynamic nature of the shipping industry, where the ebb and flow of demand drive the need for new builds and replacements. Dive into the transformative impact of cutting-edge emission regulations on vessel design, and what the new carbon intensity index standards will be as the industry moves forward.
as the International Maritime Organization mandates a 40% reduction in shipping’s carbon intensity by 2030 and a shift to carbon neutrality by 2050, what groundbreaking innovations will rise to the challenge? Possibilities include retractable sails, advanced rotors, and cutting-edge propulsion technologies like green ammonia or methanol.
what factors have led to the decline of shipbuilding in the US and UK, and where are the innovative hubs of production emerging globally today?
And more

Connect with Will Homan-Russell:

Connect with Kieran Cavanna:

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Thematic Investors: Why Institutional Investors Should Consider Uranium

By ThematicInvestors | October 2, 2023

When it comes to institutional investors exploring alternative energy sources uranium and nuclear energy present an intriguing opportunity. With the pressing need to address high global energy demands and combat climate change, this is an energy source that should not be underestimated. However, concerns still exist in terms of supply and demand as well as the geopolitical environment on the global stage.

In our highly anticipated second episode of the Thematic Investors podcast, host, Kieran Cavanna, engages in a captivating discussion on uranium investing with Daren Heitman, CFA, Managing Partner & Chief Investment Officer, and Chris Gillespie, Partner and Co-Portfolio Manager at Azarias Capital Management.

Daren and Chris discuss:

is now the right time for institutional investors to take a serious look at uranium investing options.
why haven’t we seen this commodity start to spike? When will contracting start to build true momentum?
how is the industry leader, Cameco changing their approach to uranium production to be more responsible for longer-term investors.
the risks associated with the United States’ dependence on Russia and Kazakhstan for nuclear fuel supply.
the increasing acceptance of nuclear power as a viable solution for meeting climate change goals.
the buildouts and extensions that the US, China, and Japan are planning versus a country like Germany who is looking to shut their plants completely.
and more!

Connect with Kieran Cavanna:

To learn more about our host visit:

Connect with Azarias Captial Management:

About Daren Heitman:

Daren Heitman was most recently a Partner and Portfolio Manager at Philadelphia-based Cooke & Bieler (2005-2014), where he led the firm’s successful launch of its Small Cap Value strategy and co-managed over $4 billion in mid/large-cap equities for institutional clients. He was previously a Senior Analyst and Partner at Schneider Capital Management (2000-2005), where he conducted in-depth research and analysis, mainly on small-cap value stocks.

He began his investment management career in 1994 at Skyline Asset Management, a Chicago-based investment advisory firm specializing in small-cap value management, where he was engaged full-time in small-cap value fundamental research. Daren earned an MBA with Honors from the University of Chicago – Graduate School of Business. He is also a graduate of Iowa State University with a B.S. in Finance.

About Chris Gillespie:

Chris Gillespie joined Azarias Capital in March 2015. Chris was previously a Senior Analyst and Partner at Schneider Capital Management (1999-2015). While at Schneider, he conducted in-depth, fundamental research on small and mid-cap value companies across a broad range of sectors, including industrial, machinery, autos, food & beverage, metal & mining, commodities, and trucking.

Chris earned an MBA in Finance from Columbia Business School and graduated with Honors from Boston College with a B.S. in Economics.

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Thematic Investors: Fueling Technological Breakthroughs in Energy Transition

By ThematicInvestors | September 11, 2023

Back in 1962, President Kennedy declared that by the end of the decade the United States would have a man on the moon. Energy transition is an entirely different animal where the technology, consumer sentiment, and politics will require further progress before we can declare victory.

In this inaugural episode, Kieran Cavanna, CIO, Old Farm Partners and host of the Thematic Investors podcast, is joined by Todd Kantor, Founder and Managing Member of Encompass Capital Advisors LLC. This is a critical podcast for those interested in energy transition and the investment strategies that are required to play in this arena.

Kieran and Todd discuss:

How Todd and the Encompass team define above and below surface risk, and how they apply it in investment decisions today.
Are we fighting a losing battle in climate change if China emissions have increased over 7 billion tons since 1999?
How much are Americans willing to spend in the fight on climate change? Hint: there’s a significant mismatch between responses and what’s actually needed.
The difference in active investing and passive investing in this sector.
The critical importance of data analytics, and why being a data junkie is especially important when analyzing energy transition strategies.
And more!

Any statements provided by Encompass Capital Advisors LLC are for informational purposes only and shall not constitute an offer to sell or a solicitation to buy any investment product or services offered. While all the information discussed is believed to be accurate, Encompass makes no express warranty as to its completeness or accuracy, nor can it accept responsibility for any errors. The views and opinions expressed maybe forward looking and are subject to change without notice. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which occur.

Connect with Kieran Cavanna:

To learn more about our host visit: https://www.vidrio.com/blog/thematic-investors-podcast-kantor-encompass

About Todd Kantor:

Todd Kantor is a founder and Managing Member of Encompass Capital Advisors LLC, an SEC-registered investment adviser. He has over 21 years of experience in the global energy markets as a portfolio manager, analyst, trader, and investment banker. Mr. Kantor is the Portfolio Manager of the Encompass Funds. Mr. Kantor manages an alpha-driven long/short equity strategy focused on bottom-up fundamental research analysis across a variety of global energy sub-sectors which include traditional exploration & production, and oil field services, energy transition, renewables, and energy-related cyclical sub-sectors. Encompass Capital launched on February 1, 2012, when Mr. Kantor and his core team spun out from Citadel LLC PioneerPath Capital platform where Mr. Kantor managed an energy-focused portfolio from May 2008 to January 2012. With a team of fifteen professionals, Mr. Kantor oversees an eight-person investment team. The Encompass investment process developed by Mr. Kantor is underpinned by rigorous modeling of equities and commodities, coupled with extensive data analysis and communication with management teams globally. Mr. Kantor started his career at JP Morgan in the Global Oil & Gas Investment Banking Group, and subsequently held analyst positions at Solstice Equity Management, a fund within the Bass Brothers Taylor Fund L.P, and Touradji Capital, a “Tiger cub”. Mr. Kantor has a B.B.A. degree from the Goizueta Business School at Emory University with a concentration in Finance.

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