On a year-on-year basis, the allocation rose by 90 basis points from 2.8% in January 2025, according to a report by Also Read | Live EventsAccording to the report, since January 2024, the highest allocation has been 3.5% in February 2024, and from July 2024 to June 2025 the weight remained between 2.8% to 2.9%. The report further highlighted that the allocation in the BSE 200 index was 4.1%, and some fund houses such as According to the report, State Bank of India was among the top 10 stocks that witnessed ...

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **Energy sector**, highlighting a significant repricing of energy equities in 2026, with the XLE index up **23%** compared to the S&P 500's **1%** increase. This strength is attributed to positive GDP revisions, a tech rotation, and favorable oil momentum amid geopolitical uncertainties and smaller-than-expected surpluses [1][2]. Core Investment Ideas - The report identifies **10 stocks** with attractive total return potential, averaging **19%** total return, based on a mid-cycle view of **$70** Brent and **$3.75** Henry Hub prices [1][5]. Key Stocks and Their Investment Thesis 1. **HF Sinclair Corporation (DINO)** - Current Price: **$58.76**, Price Target: **$64** (9% upside) - Expected total return of **12%** with a **3%** dividend yield. - Strong balance sheet, non-refining earnings contributions, and exposure to a tighter West Coast market are key drivers [6]. 2. **ConocoPhillips (COP)** - Current Price: **$111.21**, Price Target: **$120** (8% upside) - Expected total return of **11%** with a **3%** dividend yield. - Major growth projects and cost reductions expected to generate **$7 billion** in incremental free cash flow by 2029 at **$70/b** WTI [7][9]. 3. **EQT Corporation (EQT)** - Current Price: **$56.93**, Price Target: **$66** (16% upside) - Expected total return of **17%** with a **1%** dividend yield. - Strong inventory position in the low-cost Appalachian Basin and improved cost structure post-acquisition are highlighted [10]. 4. **Viper Energy, Inc. (VNOM)** - Current Price: **$43.85**, Price Target: **$54** (23% upside) - Expected total return of **29%** with a **5%** dividend yield. - No-capex business model and commitment to return **75%** of cash available for distribution to shareholders are key factors [11]. 5. **Diamondback Energy, Inc. (FANG)** - Current Price: **$169.01**, Price Target: **$187** (11% upside) - Expected total return of **13%** with a **2%** dividend yield. - Strong operational execution and commitment to return capital to shareholders are emphasized [13]. 6. **Kinder Morgan, Inc. (KMI)** - Current Price: **$31.45**, Price Target: **$32** (2% upside) - Expected total return of **6%** with a **4%** dividend yield. - Significant natural gas-focused backlog and recent earnings beat are noted [14]. 7. **Cheniere Energy, Inc. (LNG)** - Current Price: **$219.41**, Price Target: **$275** (25% upside) - Expected total return of **26%** with a **1%** dividend yield. - Highly contracted asset footprint provides insulation from commodity price downside [15]. 8. **Golar LNG Limited (GLNG)** - Current Price: **$44.20**, Price Target: **$56** (27% upside) - Expected total return of **29%** with a **2%** dividend yield. - Shift towards floating liquefaction business and potential for significant EBITDA growth are highlighted [18]. 9. **Halliburton Company (HAL)** - Current Price: **$35.03**, Price Target: **$40** (14% upside) - Expected total return of **16%** with a **2%** dividend yield. - Strong performance in international markets and potential for margin expansion are noted [19]. 10. **Vistra Corp. (VST)** - Current Price: **$160.15**, Price Target: **$205** (28% upside) - Expected total return of **29%** with a **1%** dividend yield. - Upside potential from contracting remaining nuclear generation and favorable valuation metrics are discussed [21]. Additional Insights - The report emphasizes the importance of monitoring macroeconomic factors, commodity prices, and operational execution as key risks for the companies mentioned [26][27][29][30][31][34]. - The overall sentiment in the energy sector remains constructive, with expectations of continued strength in energy services and integrated oil stocks, despite some relative weakness in gas exploration and production [23]. This comprehensive overview captures the essential insights and investment opportunities within the energy sector as discussed in the conference call.

Company Overview - SOLV Energy Inc. (NASDAQ:MWH) is a leading provider of infrastructure services to the power industry, including engineering, procurement, construction, testing, commissioning, operations, maintenance, and repowering [3] - Since its incorporation in 2008, the company has built over 500 power plants, representing 20 GW of generating capacity, and provides operations and maintenance services to 146 operating power plants, representing over 18 GW of generating capacity [3] IPO Performance - SOLV Energy's stock price increased by 22.68% on its first day of trading, reflecting strong investor support for energy stocks amid growing demand for their services in the US [1][6] - The stock opened at $30, dipped to a low of $29, reached a high of $31, and closed at $30.67 [2] - The company raised $513 million from the sale of 20.5 million shares at an initial public offering price of $25, resulting in a valuation of $6 billion [2] Industry Context - The US Energy Information Administration projects a 1% increase in energy demand this year and a further 3% increase next year, driven by higher economic activity and data center demand [4]

Core Insights - The utility sector is evolving from being considered boring and defensive investments to becoming attractive due to AI-related demand, particularly in data centers and industrial electrification [1] Constellation Energy - Constellation Energy is the largest producer of carbon-free electricity in the U.S., with revenue driven by long-term power contracts and increasing demand for clean energy [2] - The company reported a net income of $930 million, a decrease from the previous year, but adjusted operating earnings improved from $860 million in Q3 2024 to $952 million in 2025 [2] - Constellation's stock has declined over 23% as of February 9, 2026, indicating a need for improved operational efficiency to enhance profitability metrics [3] - The company offers a consistent annual dividend of $1.55 per share, appealing to income investors [3] Vistra Energy - Vistra operates with a more diversified and opportunistic approach, offering natural gas, nuclear, and renewable assets, along with exposure to merchant power markets [4] - The company has a long-term nuclear agreement with Meta, which has generated investor interest, although its stock is slightly down year to date [5] - Vistra's stock trades at a forward P/E ratio of 15.5 as of February 9, 2026, indicating reasonable valuation [5] - The company's beta is 1.44, reflecting higher volatility compared to Constellation's 1.14, which is associated with increased growth prospects [6] - Vistra has completed $5.6 billion in share repurchases since 2021 and has authorized an additional $1 billion, signaling bullish sentiment for long-term investors [6]

Group 1: ENGIE - Sponsored ADR - ENGIE operates in the power, natural gas, and energy services sectors, with segments including Renewables, Networks, Energy Solutions, FlexGen, Retail, Nuclear, and Others [1] - The company has a Zacks Rank of 1 (Strong Buy) and its current year earnings estimate has increased by 5.1% over the last 60 days [1] - ENGIE's shares have gained 25.5% over the last three months, significantly outperforming the S&P 500, which gained 1.3% [2] - The company possesses a Momentum Score of A [2] Group 2: Monolithic Power Systems - Monolithic Power Systems designs, develops, and markets high-performance power solutions [2] - The company also has a Zacks Rank of 1 and its current year earnings estimate has increased by 3.2% over the last 60 days [2] - Shares of Monolithic Power Systems have gained 19.9% over the last three months, again outperforming the S&P 500 [3] - The company holds a Momentum Score of A [3] Group 3: Seanergy Maritime Holdings - Seanergy Maritime Holdings is a pure-play Capesize ship-owner providing marine dry bulk transportation services through a modern fleet of Capesize vessels [3] - The company has a Zacks Rank of 1 and its current year earnings estimate has increased by 8.6% over the last 60 days [3] - Seanergy Maritime Holdings' shares have gained 27.4% over the last three months, outperforming the S&P 500 [4] - The company also possesses a Momentum Score of A [4]

1、李强：全面推进人工智能科技创新、产业发展和赋能应用 重要程度：★★★★★ 2月11日，国务院以深化拓展"人工智能+"、全方位赋能千行百业为主题，进行第十八次专题学习。国务院总 理李强在主持学习时强调，要深入学习贯彻习近平总书记关于人工智能发展的重要指示精神和党中央有关决 策部署，全面推进人工智能科技创新、产业发展和赋能应用，培育壮大新质生产力，推动高质量发展。 李强指出，要深刻认识和把握人工智能发展态势，推动人工智能全链条突破、全场景落地，更大释放发展潜 能。要持续夯实技术底座，推进算法创新，加大高质量数据供给，提升大模型性能，前瞻布局新技术新路 径。要大力推进规模化商业化应用，促进人工智能终端和服务消费，建设人工智能应用中试基地，发展壮大 智能体产业，拓展更多高价值应用场景。 2、国办最新印发！完善全国统一电力市场体系，绩优潜力"黑马"曝光 重要程度：★★★★ 2月11日，国务院办公厅印发《关于完善全国统一电力市场体系的实施意见》。《意见》指出，到2030年， 基本建成全国统一电力市场体系，各类型电源和除保障性用户外的电力用户全部直接参与电力市场，市场化 交易电量占全社会用电量的70%左右。到2035年 ...

2025 Results & 2026 Objectives Delivering accretive energy growth, while strengthening resilience Delivering accretive energy growth, while strengthening resilience February 11, 2026 February 2026 – Results and Objectives | 2 Table of contents 03 | Safety, our core value 04 | Relentlessly reducing emissions 06 | 2025: delivered growth while preparing 2030+ 07 | Delivered on our growth objectives 08 | Sustaining attractive distributions supported by accretive growth and strong balance sheet 09 | Disciplined ...

Core Insights - The podcast episode discusses Trump's strategies of onshoring and friendshoring to mitigate the US's reliance on China's dominance in critical minerals, particularly rare earths [1][2][3] Group 1: US-China Trade Relations - The US's dependence on China for rare earths and critical minerals was highlighted during the trade war, with China controlling approximately 70% of global rare earth mining and 90% of processing [2] - The trade tensions have prompted the US to reassess its supply chain vulnerabilities and seek alternative sources for critical minerals [2] Group 2: Strategic Approaches - Trump's administration has intensified efforts to secure domestic supply chains through onshoring (bringing production back to the US) and friendshoring (partnering with allied countries) [3] - The effectiveness of these strategies in countering China's mineral dominance is a focal point of discussion in the podcast, featuring insights from industry leaders [3][6] Group 3: Podcast Information - The podcast "Energy Technology: Industry Insights" releases episodes every Tuesday at 7 AM EST, available on various platforms including Spotify and Apple Podcasts [4] - The podcast aims to provide updates on developments in the power, oil and gas, and mining sectors, leveraging data and analysis from GlobalData [3][4]

Core Viewpoint - Graham Corporation reported its financial results for the third quarter of fiscal year 2026, highlighting its position as a leader in critical technologies for various industries [1]. Financial Performance - The company’s financial results for the third quarter indicate significant performance metrics, although specific figures were not detailed in the provided text [1]. - The fiscal year ending March 31, 2026, is emphasized as a key period for the company [1]. Leadership Commentary - Matthew J. Malone, President and CEO of Graham Corporation, provided insights on the third quarter results, indicating a positive outlook for the company [1].

Core Viewpoint - GE Vernova is well-positioned to benefit from the increasing global demand for electricity and renewable energy, driven by the technology sector's expansion of AI data centers and overall growth in the power industry [1][3]. Group 1: Electricity Demand and Data Centers - Global electricity demand is projected to rise by 4.3% in 2024, accelerating from a 2.5% increase in 2023 [1]. - Data centers accounted for approximately 1.5% of the world's total electricity consumption in 2024, with their electricity demand growing at a 12% annualized rate from 2020 to 2024 [2]. - GE Vernova reported a significant increase in orders for data centers, with over $2 billion in orders for 2025, more than tripling the previous year's total [6]. Group 2: Financial Performance - GE Vernova's revenue increased by 9% to $38.1 billion in 2025, with $19.8 billion coming from the power segment, driven by strong demand for natural gas power equipment [8]. - The company reported fourth-quarter earnings of $13.39 per share, exceeding analysts' expectations by over $10 per share, partly due to growing sales to data centers [5]. Group 3: Natural Gas and Renewable Energy Growth - Global natural gas demand rose by 2.7% in 2024, reaching an all-time high, with further growth expected at 1% in 2025 and 2% in 2026, particularly in emerging markets [9]. - GE Vernova's wind segment generated $9.1 billion in revenue in 2025, with a 9% increase in orders, as global renewable energy capacity is expected to more than double by 2030 [10]. Group 4: Future Outlook - The company has a total backlog of $150 billion in projects, indicating a strong future regardless of fluctuations in the AI sector [11]. - Deloitte research suggests that AI data centers' power demand in the U.S. could increase by over 3,000% by 2035, highlighting a significant growth opportunity for GE Vernova [7].