| name | mandate score | score anatomy (hatched = renormalised) | visibility | binding constraint |
|---|---|---|---|---|
| 005930.KS Samsung Electronics | 0.6314 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility | 0.94 on 2/4 | |
| 8035.T Tokyo Electron | 0.5378 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| NVDA NVIDIA | 0.5367 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility | 0.50 on 1/4 | |
| ETN Eaton Corporation | 0.4944 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| VST Vistra | 0.4856 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| QCOM QUALCOMM | 0.4567 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| CEG Constellation Energy | 0.4544 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| MU Micron Technology | 0.4544 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| VICI VICI Properties | 0.4467 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| EPD Enterprise Products Partners | 0.433 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| LRCX Lam Research | 0.4174 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| MSFT Microsoft | 0.4002 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility | 0.61 on 3/4 | |
| KLAC KLA Corporation | 0.3789 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| META Meta Platforms | 0.3711 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | |
| ORCL Oracle | 0.3652 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable |
| name | mandate score | score anatomy (hatched = renormalised) | visibility | binding constraint |
|---|---|---|---|---|
| ARM Arm Holdings plc American… | 0.4544 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | dropped by the D-023 rescale: 3.39% x 0.6000 = 2.03%, below position_min_pct 3%. A rescale must not leave a holding below the materiality floor. |
| MRVL Marvell Technology | 0.3867 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | theme 'foundry-logic' weight cap 35% binding |
| IBM International Business… | 0.3633 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 3% — book is fully invested |
| WMB Williams Companies | 0.3574 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 3% — book is fully invested |
| ANET Arista Networks | 0.3496 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 3% — book is fully invested |
| AEP American Electric Power… | 0.3457 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 3% — book is fully invested |
| 6146.T Disco | 0.3375 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility | 0.62 on 3/4 | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 3% — book is fully invested |
| CSCO Cisco Systems | 0.3263 scored on 4/5 | expected_return_base conviction revision_drift_direction catalyst_density_in_window visibility absent | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 3% — book is fully invested |
| name | every failure, verbatim | return distribution |
|---|---|---|
| 0002.HK CLP Holdings Limited | ✗ expected_return 2.6% (probability_weighted, annualised from 2.6% over 12m) < 10.0% | -16%28% +6%60% +29%12% EV +2.60% |
| 0003.HK Hong Kong and China Gas | ✗ expected_return -0.2% (probability_weighted, annualised from -0.2% over 12m) < 10.0% | -19.2%30% +4.4%52% +18.3%18% EV -0.18% |
| 000660.KS SK hynix | ✗ adversary verdict=broken ✗ expected_return 7.0% (probability_weighted, annualised from 7.0% over 12m) < 10.0% | -25%25% +4%45% +38%30% EV +6.95% |
| 0857.HK PetroChina | ✗ expected_return 8.0% (probability_weighted, annualised from 8.0% over 12m) < 10.0% | -18%25% +8%48% +32%27% EV +7.98% |
| 0941.HK China Mobile | ✗ expected_return 6.6% (probability_weighted, annualised from 6.6% over 12m) < 10.0% | -8.0%28% +7.5%50% +23.0%22% EV +6.57% |
| 1605.T Inpex | ✗ expected_return 7.0% (probability_weighted, annualised from 7.0% over 12m) < 10.0% | -20%25% +6%53% +40%22% EV +6.98% |
| 2327.TW Yageo | ✗ coverage_tier=T3-DATA-ONLY not in ['T1-FULL', 'T2-PARTIAL', 'T3-PRIMARY-COMPLETE'] ✗ expected_return -2.2% (probability_weighted, annualised from -2.2% over 12m) < 10.0% | -45%32% +5%46% +45%22% EV -2.20% |
| 2330.TW Taiwan Semiconductor… | ✗ adversary verdict=broken | -28%22% +23%48% +58%30% EV +22.28% |
| 8001.T ITOCHU | ✗ coverage_tier=T3-DATA-ONLY not in ['T1-FULL', 'T2-PARTIAL', 'T3-PRIMARY-COMPLETE'] ✗ expected_return 4.8% (probability_weighted, annualised from 4.8% over 12m) < 10.0% | -18%22% +7%56% +22%22% EV +4.80% |
| ABBV AbbVie | ✗ adversary verdict=broken ✗ expected_return 9.6% (probability_weighted, annualised from 9.6% over 12m) < 10.0% | -20%24% +15%56% +30%20% EV +9.60% |
| AMAT Applied Materials | ✗ adversary verdict=broken | -30%20% +10%42% +50%38% EV +17.20% |
| AMD Advanced Micro Devices | ✗ ben_veto (2026-08-18): option_gate FALSE — the only hard negative in the ALPHA book, against quant z -0.04 and revision breadth 0.00. The adversary found no disclosed backlog, no comm | -30%25% +14%42% +50%33% EV +14.88% |
| AMGN Amgen | ✗ expected_return 1.8% (probability_weighted, annualised from 1.8% over 12m) < 10.0% | -20%30% +4%52% +32%18% EV +1.84% |
| AMT American Tower | ✗ expected_return 9.4% (probability_weighted, annualised from 9.4% over 12m) < 10.0% | -10%25% +10%53% +30%22% EV +9.40% |
| AMZN Amazon.com | ✗ adversary verdict=broken | -25%24% +14%50% +40%26% EV +11.40% |
| ASML ASML Holding | ✗ adversary verdict=broken | -25%25% +13%43% +42%32% EV +12.78% |
| AVGO Broadcom | ✗ adversary verdict=broken | -28%23% +12%45% +45%32% EV +13.36% |
| CCI Crown Castle | ✗ expected_return 7.3% (probability_weighted, annualised from 7.3% over 12m) < 10.0% | -14%30% +9%50% +35%20% EV +7.30% |
| CVX Chevron | ✗ expected_return 3.0% (probability_weighted, annualised from 3.0% over 12m) < 10.0% ✗ no catalyst with resolves_thesis inside horizon | -18%28% +5%50% +25%22% EV +2.96% |
| D Dominion Energy | ✗ expected_return 4.4% (probability_weighted, annualised from 4.4% over 12m) < 10.0% | -14%30% +8%50% +23%20% EV +4.40% |
| DIS Walt Disney | ✗ expected_return 7.1% (probability_weighted, annualised from 7.1% over 12m) < 10.0% | -18%24% +10%58% +31%18% EV +7.06% |
| DLR Digital Realty Trust | ✗ expected_return 6.2% (probability_weighted, annualised from 6.2% over 12m) < 10.0% | -25%25% +9%48% +30%27% EV +6.17% |
| DUK Duke Energy | ✗ expected_return 7.3% (probability_weighted, annualised from 7.3% over 12m) < 10.0% | -15%25% +10%53% +26%22% EV +7.27% |
| ED Consolidated Edison | ✗ adversary verdict=broken ✗ expected_return 2.7% (probability_weighted, annualised from 2.7% over 12m) < 10.0% | -18%22% +4%56% +20%22% EV +2.68% |
| EQIX Equinix | ✗ expected_return 3.6% (probability_weighted, annualised from 3.6% over 12m) < 10.0% | -28%27% +9%51% +30%22% EV +3.63% |
| GEV GE Vernova | ✗ expected_return 8.7% (probability_weighted, annualised from 8.8% over 12m) < 10.0% | -30%25% +10%50% +45%25% EV +8.75% |
| GIS General Mills | ✗ expected_return 3.0% (probability_weighted, annualised from 3.0% over 12m) < 10.0% | -19%28% +6%52% +26%20% EV +3.00% |
| GOOGL Alphabet | ✗ adversary verdict=broken | -18%23% +21%47% +50%30% EV +20.73% |
| INTC Intel | ✗ expected_return 6.9% (probability_weighted, annualised from 6.9% over 12m) < 10.0% | -35%32% +8%41% +55%27% EV +6.93% |
| JNJ Johnson & Johnson | ✗ expected_return 5.8% (probability_weighted, annualised from 5.8% over 12m) < 10.0% | -20%22% +10%58% +22%20% EV +5.80% |
| KMB Kimberly-Clark | ✗ expected_return 3.5% (probability_weighted, annualised from 3.5% over 12m) < 10.0% | -13.0%27% +5.0%55% +23.5%18% EV +3.47% |
| KO Coca-Cola | ✗ expected_return 3.2% (probability_weighted, annualised from 3.2% over 12m) < 10.0% | -20%30% +9%52% +25%18% EV +3.18% |
| LIN Linde | ✗ adversary verdict=broken ✗ expected_return 9.1% (probability_weighted, annualised from 9.1% over 12m) < 10.0% | -12%25% +11%55% +30%20% EV +9.05% |
| MO Altria Group | ✗ expected_return 7.6% (probability_weighted, annualised from 7.6% over 12m) < 10.0% | -9%28% +10%54% +26%18% EV +7.56% |
| MRK Merck & Co. | ✗ adversary verdict=broken ✗ expected_return 3.1% (probability_weighted, annualised from 3.1% over 12m) < 10.0% | -18%25% +4%53% +25%22% EV +3.12% |
| NEE NextEra Energy | ✗ expected_return 8.9% (probability_weighted, annualised from 8.9% over 12m) < 10.0% | -13%25% +11%49% +26%26% EV +8.90% |
| O Realty Income | ✗ expected_return 6.4% (probability_weighted, annualised from 6.4% over 12m) < 10.0% | -12%25% +8%55% +25%20% EV +6.40% |
| ON ON Semiconductor | ✗ expected_return 8.6% (probability_weighted, annualised from 8.6% over 12m) < 10.0% | -32%28% +12%45% +45%27% EV +8.59% |
| PEP PepsiCo | ✗ expected_return 5.0% (probability_weighted, annualised from 5.0% over 12m) < 10.0% | -15%25% +8%55% +22%20% EV +5.05% |
| PFE Pfizer | ✗ expected_return 6.0% (probability_weighted, annualised from 6.0% over 12m) < 10.0% | -18%22% +8%56% +25%22% EV +6.02% |
| PG Procter & Gamble | ✗ expected_return 5.5% (probability_weighted, annualised from 5.5% over 12m) < 10.0% | -15%20% +5%55% +23%25% EV +5.50% |
| PM Philip Morris International | ✗ expected_return 9.3% (probability_weighted, annualised from 9.3% over 12m) < 10.0% | -15%22% +12%53% +25%25% EV +9.31% |
| PWR Quanta Services | ✗ adversary verdict=broken ✗ expected_return 7.1% (probability_weighted, annualised from 7.1% over 12m) < 10.0% | -28%22% +7%48% +33%30% EV +7.10% |
| RTX RTX Corporation | ✗ expected_return 7.2% (probability_weighted, annualised from 7.2% over 12m) < 10.0% | -20%20% +8%50% +24%30% EV +7.20% |
| SO Southern | ✗ expected_return 7.8% (probability_weighted, annualised from 7.8% over 12m) < 10.0% | -9.0%28% +10.5%50% +23.0%22% EV +7.79% |
| SPG Simon Property Group | ✗ expected_return 7.8% (probability_weighted, annualised from 7.8% over 12m) < 10.0% | -11%22% +8%53% +24%25% EV +7.82% |
| T AT&T | ✗ expected_return 9.7% (probability_weighted, annualised from 9.7% over 12m) < 10.0% | -15%22% +11%55% +30%23% EV +9.65% |
| TXN Texas Instruments | ✗ adversary verdict=broken ✗ expected_return 3.8% (probability_weighted, annualised from 3.8% over 12m) < 10.0% | -26%32% +9%44% +34%24% EV +3.80% |
| VRT Vertiv Holdings Co | ✗ expected_return 8.3% (probability_weighted, annualised from 8.3% over 12m) < 10.0% | -35%28% +11%42% +45%30% EV +8.32% |
| VZ Verizon Communications | ✗ expected_return 8.9% (probability_weighted, annualised from 8.9% over 12m) < 10.0% | -11%30% +10%45% +31%25% EV +8.95% |
| WEC WEC Energy Group | ✗ expected_return 8.5% (probability_weighted, annualised from 8.6% over 12m) < 10.0% | -14%23% +11%55% +26%22% EV +8.55% |
| WPC W. P. Carey | ✗ expected_return 8.4% (probability_weighted, annualised from 8.4% over 12m) < 10.0% | -4%30% +9%48% +24%22% EV +8.40% |
| XOM Exxon Mobil | ✗ expected_return 6.8% (probability_weighted, annualised from 6.8% over 12m) < 10.0% | -15%28% +7%46% +30%26% EV +6.82% |
| name | mandate score | score anatomy (hatched = renormalised) | visibility | binding constraint |
|---|---|---|---|---|
| MO Altria Group | 0.8663 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| EPD Enterprise Products Partners | 0.8172 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| 0941.HK China Mobile | 0.8147 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| VICI VICI Properties | 0.8013 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| GIS General Mills | 0.7672 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| VZ Verizon Communications | 0.7643 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| CVX Chevron | 0.7504 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| PEP PepsiCo | 0.7416 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| PG Procter & Gamble | 0.7329 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| 0857.HK PetroChina | 0.7267 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| PM Philip Morris International | 0.7068 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| XOM Exxon Mobil | 0.703 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| KO Coca-Cola | 0.6951 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| JNJ Johnson & Johnson | 0.6848 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| 0002.HK CLP Holdings Limited | 0.6556 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| QCOM QUALCOMM | 0.6337 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| CSCO Cisco Systems | 0.6056 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| IBM International Business… | 0.5966 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| AMGN Amgen | 0.5929 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | |
| MSFT Microsoft | 0.591 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | 0.61 on 3/4 |
| name | mandate score | score anatomy (hatched = renormalised) | visibility | binding constraint |
|---|---|---|---|---|
| 1605.T Inpex | 0.5867 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| NVDA NVIDIA | 0.5571 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | 0.50 on 1/4 | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| WMB Williams Companies | 0.5523 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| LRCX Lam Research | 0.5438 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| META Meta Platforms | 0.4971 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| VRT Vertiv Holdings Co | 0.4969 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| MU Micron Technology | 0.4573 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | unscorable | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| AMD Advanced Micro Devices | 0.4209 | dividend_yield payout_durability earnings_stability balance_sheet_score expected_return_bear | 0.50 on 1/4 | gross exposure cap: only 0.00% of capital unallocated, below position_min_pct 2% — book is fully invested |
| name | every failure, verbatim | return distribution |
|---|---|---|
| 0003.HK Hong Kong and China Gas | ✗ expected_return -0.2% (probability_weighted, annualised from -0.2% over 12m) < 0.01% | -19.2%30% +4.4%52% +18.3%18% EV -0.18% |
| 000660.KS SK hynix | ✗ adversary verdict=broken ✗ forward yield unknown for 000660.KS — run dividend_metrics.py ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2002, 2003, 2008, 2009, 2010, 2019, 2022, 2024]) | -25%25% +4%45% +38%30% EV +6.95% |
| 005930.KS Samsung Electronics | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2008, 2011, 2021]) | -25%25% +12%45% +45%30% EV +12.65% |
| 2327.TW Yageo | ✗ coverage_tier=T3-DATA-ONLY not in ['T1-FULL', 'T2-PARTIAL', 'T3-PRIMARY-COMPLETE'] ✗ expected_return -2.2% (probability_weighted, annualised from -2.2% over 12m) < 0.01% ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2009, 2019, 2020, 2021, 2023]) | -45%32% +5%46% +45%22% EV -2.20% |
| 2330.TW Taiwan Semiconductor… | ✗ adversary verdict=broken ✗ forward yield unknown for 2330.TW — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -28%22% +23%48% +58%30% EV +22.28% |
| 6146.T Disco | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2002, 2005, 2008, 2009, 2012, 2018, 2019, 2023]) | -36%25% +10%45% +58%30% EV +12.90% |
| 8001.T ITOCHU | ✗ coverage_tier=T3-DATA-ONLY not in ['T1-FULL', 'T2-PARTIAL', 'T3-PRIMARY-COMPLETE'] | -18%22% +7%56% +22%22% EV +4.80% |
| 8035.T Tokyo Electron | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2001, 2002, 2008, 2009, 2012, 2013, 2019, 2023]) | -22%24% +12%44% +45%32% EV +14.40% |
| ABBV AbbVie | ✗ adversary verdict=broken | -20%24% +15%56% +30%20% EV +9.60% |
| AEP American Electric Power… | ✗ payout durability FAIL: interest coverage now 2.61x < 3.0x | -11.0%25% +13.5%50% +28.0%25% EV +11.00% |
| AMAT Applied Materials | ✗ adversary verdict=broken ✗ forward yield unknown for AMAT — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -30%20% +10%42% +50%38% EV +17.20% |
| AMT American Tower | ✗ forward yield unknown for AMT — run dividend_metrics.py | -10%25% +10%53% +30%22% EV +9.40% |
| AMZN Amazon.com | ✗ adversary verdict=broken ✗ trailing yield unknown for AMZN — run dividend_metrics.py ✗ forward yield unknown for AMZN — run dividend_metrics.py | -25%24% +14%50% +40%26% EV +11.40% |
| ANET Arista Networks | ✗ trailing yield unknown for ANET — run dividend_metrics.py ✗ forward yield unknown for ANET — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -30%25% +14%43% +43%32% EV +12.28% |
| ARM Arm Holdings plc American… | ✗ trailing yield unknown for ARM — run dividend_metrics.py ✗ forward yield unknown for ARM — run dividend_metrics.py | -35%30% +12%40% +55%30% EV +10.80% |
| ASML ASML Holding | ✗ adversary verdict=broken ✗ forward yield unknown for ASML — run dividend_metrics.py ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2008, 2009, 2012, 2015, 2020, 2023]) | -25%25% +13%43% +42%32% EV +12.78% |
| AVGO Broadcom | ✗ adversary verdict=broken ✗ forward yield unknown for AVGO — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -28%23% +12%45% +45%32% EV +13.36% |
| CCI Crown Castle | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2025]); interest coverage now 2.17x < 3.0x; interest coverage at forward rates | -14%30% +9%50% +35%20% EV +7.30% |
| CEG Constellation Energy | ✗ forward yield unknown for CEG — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -25%25% +12%45% +45%30% EV +12.65% |
| D Dominion Energy | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2020, 2021]); interest coverage now 2.18x < 3.0x; interest coverage at forward | -14%30% +8%50% +23%20% EV +4.40% |
| DIS Walt Disney | ✗ forward yield unknown for DIS — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -18%24% +10%58% +31%18% EV +7.06% |
| DLR Digital Realty Trust | ✗ payout durability FAIL: interest coverage now 1.5x < 3.0x; interest coverage at forward rates 0.58x < 2.0x (this is the test a static | -25%25% +9%48% +30%27% EV +6.17% |
| DUK Duke Energy | ✗ payout durability FAIL: interest coverage now 2.36x < 3.0x; FCF <= 0: payout ratio undefined; treat as failing | -15%25% +10%53% +26%22% EV +7.27% |
| ED Consolidated Edison | ✗ adversary verdict=broken ✗ payout durability FAIL: interest coverage now 2.38x < 3.0x | -18%22% +4%56% +20%22% EV +2.68% |
| EQIX Equinix | ✗ payout durability FAIL: interest coverage at forward rates 1.74x < 2.0x (this is the test a static ratio cannot see); FCF <= 0: payout | -28%27% +9%51% +30%22% EV +3.63% |
| ETN Eaton Corporation | ✗ forward yield unknown for ETN — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -22%22% +15%48% +42%30% EV +14.96% |
| GEV GE Vernova | ✗ forward yield unknown for GEV — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -30%25% +10%50% +45%25% EV +8.75% |
| GOOGL Alphabet | ✗ adversary verdict=broken ✗ forward yield unknown for GOOGL — run dividend_metrics.py | -18%23% +21%47% +50%30% EV +20.73% |
| INTC Intel | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2023, 2024]); interest coverage now -0.02x < 3.0x; interest coverage at forward | -35%32% +8%41% +55%27% EV +6.93% |
| KLAC KLA Corporation | ✗ forward yield unknown for KLAC — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -34%22% +13%46% +38%32% EV +10.66% |
| KMB Kimberly-Clark | ✗ ben_veto (2026-08-18): Weakest expected return in the INCOME book at +5.0% on p=55%, and the adversary cites private-label share loss, negative pricing and a previously cut profit gui | -13.0%27% +5.0%55% +23.5%18% EV +3.47% |
| LIN Linde | ✗ adversary verdict=broken ✗ forward yield unknown for LIN — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -12%25% +11%55% +30%20% EV +9.05% |
| MRK Merck & Co. | ✗ adversary verdict=broken | -18%25% +4%53% +25%22% EV +3.12% |
| MRVL Marvell Technology | ✗ forward yield unknown for MRVL — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -35%28% +14%47% +55%25% EV +10.53% |
| NEE NextEra Energy | ✗ payout durability FAIL: interest coverage now 1.81x < 3.0x; interest coverage at forward rates 1.85x < 2.0x (this is the test a static | -13%25% +11%49% +26%26% EV +8.90% |
| O Realty Income | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2023, 2024]); interest coverage now 1.42x < 3.0x; interest coverage at forward | -12%25% +8%55% +25%20% EV +6.40% |
| ON ON Semiconductor | ✗ trailing yield unknown for ON — run dividend_metrics.py ✗ forward yield unknown for ON — run dividend_metrics.py | -32%28% +12%45% +45%27% EV +8.59% |
| ORCL Oracle | ✗ forward yield unknown for ORCL — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -22%30% +16%48% +70%22% EV +16.48% |
| PFE Pfizer | ✗ ben_veto (2026-08-18): The thesis IS dividend carry through the LOE window, and the adversary states the pack contains no cash-flow or debt data to test forward coverage — the one thi | -18%22% +8%56% +25%22% EV +6.02% |
| PWR Quanta Services | ✗ adversary verdict=broken ✗ forward yield unknown for PWR — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -28%22% +7%48% +33%30% EV +7.10% |
| RTX RTX Corporation | ✗ forward yield unknown for RTX — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -20%20% +8%50% +24%30% EV +7.20% |
| SO Southern | ✗ payout durability FAIL: interest coverage now 2.2x < 3.0x; FCF <= 0: payout ratio undefined; treat as failing | -9.0%28% +10.5%50% +23.0%22% EV +7.79% |
| SPG Simon Property Group | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2020, 2021]) | -11%22% +8%53% +24%25% EV +7.82% |
| T AT&T | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2022, 2023]) | -15%22% +11%55% +30%23% EV +9.65% |
| TXN Texas Instruments | ✗ adversary verdict=broken | -26%32% +9%44% +34%24% EV +3.80% |
| VST Vistra | ✗ forward yield unknown for VST — run dividend_metrics.py ✗ payout durability not computed — run payout_durability.py | -22%25% +16%42% +50%33% EV +17.72% |
| WEC WEC Energy Group | ✗ payout durability FAIL: interest coverage now 2.65x < 3.0x; FCF <= 0: payout ratio undefined; treat as failing | -14%23% +11%55% +26%22% EV +8.55% |
| WPC W. P. Carey | ✗ payout durability FAIL: DPS trajectory = cut (cuts in [2023, 2024]); interest coverage now 2.62x < 3.0x; interest coverage at forward | -4%30% +9%48% +24%22% EV +8.40% |
| name | in book | intensity | conflicts | note |
|---|---|---|---|---|
| AVGO | no | 0 | ||
| MRK | no | 0 | ||
| META | no | 0 | ||
| VST | no | 0 | ||
| IBM | no | 0 | ||
| ASML | no | 0 | ||
| VRT | no | 0 | ||
| 2327.TW | no | 0 | ||
| 000660.KS | no | 0 | ||
| TXN | no | 0 | ||
| AMAT | no | 0 | ||
| LRCX | no | 0 |