30 Signals Across the Portfolio’s 10 Themes and Strategies
Let’s scan through the headlines for the stories of the week that speak to our Pro Portfolio holdings.
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Airlines are seeing fuel costs drop on Iran deal, but don’t expect cheaper tickets anytime soon. Chocolate and coffee cost more at the grocery store. And even more devices were found shipped into the U.S. with backdoor hacking software pre-installed. These are a few of the 30 reports we spotted this past week that speak to our Pro Portfolio’s investing themes and strategies.
If you’ve come across a signal we should know about, be sure to drop a link in the Comment section below.
Aging Population
Around three-quarters of Americans over 50 want to age in their current homes, according to AARP. But many of their homes aren’t suitable for aging because of stairs, bathtubs, narrow doorways and slippery tile floors. Only about 10% of homes are considered “aging-ready,” meaning they have a step-free entry and bedroom and accessible full bathroom on the first floor, according to a 2020 census report. Read more here
According to Bisnow, the US senior population faces a looming housing shortage as demand for supportive living far outpaces new construction. As the 85-plus age group is expected to grow by 125% to nearly 16 million by 2045, facility pipelines are drying up: only 16,423 units were under construction last quarter, the lowest since 2012 per National Investment Center for Seniors Housing & Care. High demand and limited supply are already sending prices skyward. Read more here
Position: Labcorp (LH); Welltower (WELL)
Artificial Intelligence
PYMNTS Intelligence data shows 60% of AI users turn to ChatGPT for shopping and purchasing while 57% use Gemini for the same tasks. For entertainment and hobbies, the split is 65% to 59%. Consumers aren’t picking a winner. They’re building a toolkit and switching by task. That behavior is showing up in market share. ChatGPT’s share of global users fell to 46.4% by the end of May. In March, it slipped below 50% for the first time, according to data from Sensor Tower’s State of AI 2026 June report. In comparison, Gemini holds 27.7% of global users and Claude 10.3%. Despite the dip, ChatGPT still leads on raw users, with 1.1 billion monthly. Read more here
Anthropic on Tuesday launched Claude Tag, a new product that embeds its most advanced AI model directly inside Slack as a persistent, shared teammate that anyone on a team can delegate work to by simply typing @Claude. Read more here
Ads in ChatGPT are becoming more relevant to the audiences encountering them, according to OpenAI’s advertising execs. Since launching its advertising business in February, the company has seen a 50% drop-off in the rate at which users close out of the ad units they see in the ChatGPT experience, a signal the AI company uses to gauge whether a given ad is relevant. Read more here
Blue J, an AI-powered tax research solution, and CPA.com have released the second annual AI Tax Research Solution Outlook Report, examining how AI-powered tax research adoption is reshaping accounting firms and changing how practitioners work. Based on a survey of more than 1,000 tax professionals across the United States, practitioners are no longer experimenting with AI — they’re increasingly relying on it as a core part of their workflows and broader firm transformation strategies. Read more here
Position: Alphabet (GOOGL), Amazon (AMZN), Arista Networks (ANET), Axon (AXON), Meta (META), Microsoft (MSFT), Palantir (PLTR), SuRo Capital (SSSS)
Cash-Strapped Consumer
The early back-to-school push from retailers comes as seasonal shopping of all kinds has shifted earlier, say retail executives and consultants. In addition to deal hunting, it reflects a change in spending patterns since the pandemic: Some shoppers still fear that the most popular items will run out quickly. And retailers like an expanded season because it gives them more time to attract shoppers and sell through inventory. Read more here
Airlines stand to save billions of dollars on jet fuel after an interim U.S.-Iran peace deal sent oil prices lower, but passengers are unlikely to see immediate relief as tight capacity may allow carriers to keep fares well above pre-war levels. Read more here
When they dine out, consumers are making one of two choices these days: They’re either trading down for deals and discounts. Or they’re trading up for premium experiences. Restaurants in the middle that have less-clear positioning, meanwhile, are losing share. So says data firm Consumer Edge in its Restaurant 2026 Mid-Year Outlook report, which looks at credit and debit card spending among U.S. restaurants. Read more here
Position: Amazon, Costco (COST), TJX Companies (TJX)
Cybersecurity, Data Privacy & Digital Identity
An unauthorized actor accessed LastPass’s Salesforce environment using OAuth tokens stolen from third-party vendor Klue. The breach exposed sensitive customer details including names, phone numbers, and support records. The incident was limited to systems integrated with Klue and didn’t affect LastPass products, infrastructure, or services. Read more here
More low-cost consumer devices have shipped into the U.S. with backdoor software pre-installed, and this software is also being sneaked into mobile apps and copyright-free illegal copies of videogames. The software has turned tens of millions of consumer devices into criminal cloud-computing networks. These networks aren’t only used for fraud, they have also been adopted by government-backed hackers looking to hide their connections to countries such as Russia, China, Iran and North Korea. Read more here
Healthcare technology company Xsolis says that sensitive data belonging to nearly 1.4 million individuals was compromised in a phishing attack that gave attackers access to its network… Xsolis is a U.S.-based healthcare firm that develops AI-powered software used by more than 600 hospitals and health insurers for utilization management, medical necessity reviews, patient status determinations, discharge planning, and reimbursement decisions. Read more here
Position: Alphabet, First Trust Nasdaq Cybersecurity ETF (CIBR), Microsoft
Digital Infrastructure
For 30 years, network traffic followed a rhythm you could set a clock by. A lull in the morning, a peak through the business day, demand falling off in the evening. And it flowed overwhelmingly in one direction: down, toward users pulling web pages, video and files. Networks were engineered around both assumptions. AI is breaking them. Read more here
Micron Technology forecast quarterly earnings above Wall Street estimates on Wednesday, signaling heavy investments in AI-related infrastructure will drive strong demand for memory chips and sending shares up more than 15% in extended trading. The company expects fourth-quarter revenue of $50 billion, plus or minus $1 billion, compared with analysts’ average estimate of $43.58 billion, according to data compiled by LSEG. The results and forecast show how the explosive growth of generative AI has turned products such as high-bandwidth memory (HBM) into critical components for large-scale data centers. Read more here
Micron and its rivals have struggled to satisfy memory-chip demand, creating shortages in areas like computers, phones and cars. Though the company is expanding its manufacturing capacity, prices are expected to remain high for the foreseeable future. Read more here
Position: Alphabet, Amazon, Arista Networks (ANET), Broadcom (AVGO), Marvell (MRVL), Meta, Microsoft, Nvidia (NVDA).
Digital Lifestyle
Meta Platforms Inc., which helped popularize smart glasses through partnerships with Ray-Ban and Oakley, is going down-market by launching lower-priced models under its own brand for the first time. The social networking giant on Tuesday unveiled what it calls the Meta Adventurer and Fury glasses, each priced at $299. That’s $80 less than the second-generation Ray-Ban Meta Wayfarer model announced last year. Meta is also introducing a $399 Starfire model in collaboration with Kylie Jenner, aiming to appeal to a younger, more fashion-focused demographic. Read more here
Streaming tallied a record 46.6% of ad-supported household TV viewing in the first 90 days of 2026, driven by NBCUniversal’s Super Bowl simulcast on Peacock, Olympics coverage on Peacock, Prime Video’s NFL playoff games, and additional episodes of the Netflix series “Stranger Things,” Paramount’s “Landman,” and “The Pitt” on HBO Max, according to new Nielsen data. Nielsen found that the total share of ad-supported TV remained steady representing nearly 73% of overall TV viewing. Read more here
Artificial intelligence (AI) shopping agent Glance is bringing agentic commerce technology to millions of Samsung smart TVs. The integration, announced Tuesday (June 23), will see Glance’s artificial intelligence (AI) platform run on Samsung’s Tizen OS, letting people shop from their living rooms. Read more here
Position: Alphabet, Amazon, Apple, Meta, Netflix (NFLX), SuRo Capital
Energy Pain Point
Europe’s electricity system is under mounting pressure from an intense heat wave, with extreme swings in power prices as soaring temperatures drive up demand and curb output. As households and businesses ramp up the use of air-conditioning, there were concerns about insufficient power supply on the UK network. In France, several nuclear reactors are unable to operate at full capacity, while wind generation is weak across much of Europe as the high pressure system stills air currents. Read more here
CEER’s new paper on Grid Connection Challenges examines the growing difficulties faced by electricity networks across Europe in connecting new generation, storage and demand to the grid. As electrification accelerates and renewable energy deployment increases, many EU Member States are experiencing shortages in available grid connection capacity. Read more here
Taiwan has raised its forecast for electricity demand growth over the next decade, citing expanding semiconductor production and artificial intelligence (AI) data centres, even as power consumption declined slightly last year despite the economy posting its fastest growth in years. The island’s Ministry of Economic Affairs said last week that electricity demand is expected to grow by an average of 2.5 per cent annually between 2026 and 2035, up from a previous forecast of 1.7 per cent and more than double the 1.2 per cent average growth recorded over the past decade. Read more here
Position: Eaton (ETN)
Guilty Pleasure
A punishing heatwave sweeping across much of Europe prompted a partial alcohol ban in France, nationwide warnings in Germany and the closure of a soccer fan zone in Spain, as temperatures climbed towards record levels. Read more here
Coffee prices extended their two-week-long rally today, with arabica posting a 6-week high. Renewed rains in Brazil are delaying the country’s coffee harvest and pushing arabica prices higher. Meteorologist Climatempo said a new cold front is supporting rainfall over southern Brazil, with more than 50 millimeters (2 inches) expected through this week, which will limit field activities and potentially lower the quality of the coffee crop. Read more here
Walking down the candy aisle lately feels like a completely different experience than it did a few years ago. Shoppers are noticing that their favorite chocolates and sugary snacks are taking a much larger bite out of their weekly grocery budgets. This financial shift is not an illusion or a temporary holiday spike but part of a documented long-term economic trend. Confectionery manufacturers are grappling with complex global supply chain disruptions that force retail prices to climb steadily. Read more here
Global alcohol consumption is set to drop over the next decade, despite population growth and rising demand in India, which is set to become the world’s biggest drinks market after China, according to market research firm IWSR… After a post-pandemic boom, drinks makers say a surge in living costs, together with changing consumer habits, health concerns and the rise of weight-loss drugs, which may impact users’ drinking rates, have had a major impact on demand. In its first 10-year forecast spanning 160 markets, IWSR said it did not expect global alcohol consumption volumes to stop falling until after 2031. Read more here
Homebuilding & Materials
While supply concerns are still weighing on housing affordability, a combination of soaring prices and economic uncertainty is dragging on housing demand, according to the annual State of Nation’s Housing report from the Harvard Joint Center for Housing Studies (JCHS). Read more here
Still, new demographic and market trends suggest the housing landscape may look markedly different in the years ahead, according to a new Mortgage Bankers Association (MBA) white paper released Monday. The paper, “Implications of a Persistent Slowing in Housing Demand,” examines how shifts in population dynamics, construction trends and affordability pressures are reshaping the balance between housing supply and demand. Read more here
Safety & Security
The Orlando Police Department unveiled its new drone-as-first-responder program Wednesday, joining a nationwide trend as city and police officials promise it will reduce response times while providing critical information to officers rushing to a scene. Read more here
Days out from the start of the 2026 FIFA World Cup, Houston Mayor John Whitmire and law enforcement officials alluded to the use of surveillance drones throughout the international soccer tournament. Read more here
Howard County police officers are using technology to enhance public safety. WBAL-TV 11 News on Monday got a look inside the Howard County Police Department’s Real-Time Information Center in Laurel. Police said the center collects data from drones, body-worn cameras and public surveillance cameras into a live operational unit. Each piece of data is updated in real time. “We continue to invest in innovative technology as well as data-informed and people-driven strategies that help us better serve our community, enhance public safety, improve transparency and support our officers in the field,”… Read more here
Position: Axon, Palantir
The Strategies Behind Our Thematic Models
Aging of the Population – Capturing the demographic wave of the aging population and the changing demands it brings.
Artificial Intelligence – Software, chips, and related companies that facilitate the collection and analysis of large data sets and autonomous generation of solutions given non-machine language prompts.
Cash-Strapped Consumer – Companies poised to benefit as consumers stretch the disposable spending dollars they do have.
Cybersecurity – Companies that focus on protecting against the penetration of digital networks and the theft, ransom, corruption, or destruction of data.
Data Privacy & Digital Identity – Companies providing the tools and services that verify authorized users and safeguard personal data privacy.
Digital Infrastructure & Connectivity -The buildout and upgrading of our Networks, Data Storage Facilities, and Equipment.
Digital Lifestyle – The companies behind our increasingly connected lives.
Digital Payments – This model focuses on companies benefiting from the accelerating structural adoption of digital payments and financial technology (FinTech).
Energy Pain Point – Companies poised to prosper from rising power demand.
EV Transition – Capturing the transition to EVs and related infrastructure from combustion engine vehicles.
Guilty Pleasure – Companies that produce/provide food and drink products that consumers tend to enjoy regardless of the economic environment and potential long-term health hazards associated with excessive consumption.
Homebuilding & Materials – Ranging from homebuilders to key building product companies that serve the housing market, this model looks to capture the rising demand for housing, one that should benefit as the Fed returns monetary policy to more normalized levels.
Luxury Buying Boom – Tapping into aspirational buying and affluent buyers amid rising global wealth.
Rebuilding America – Turning the focused spending on rebuilding US infrastructure into revenue and profits.
Safety & Security – Targeted exposure to companies that provide goods and services primarily to the Defense and security sectors of the economy.
At the time of publication, the Pro Portfolio was long WELL, GOOGL, AMZN, ANET, AXON, META, MSFT, PLTR, SSSS, COST, TJX, AVGO, MRVL, NVDA, ETN.
