Investment Advisor, Upslope Capital Management

Upslope Capital Management

Investment Advisor

Investment advisor for Upslope Partners Fund, LP, a global long/short equity hedge fund.

Equity Bottom-Up

<ul><li>At the end of Q1, the overwhelming consensus – even among typically cautious types – was that investors needed to own stocks through at least the November election.</li><li>After all, markets are strong in election years and financial conditions should continue to improve and/or remain easier than they should be.</li><li>While dented by the recent correction, this narrative doesn’t really seem to have changed much.</li></ul>

At the end of Q1, the overwhelming consensus – even among typically cautious types – was that investors needed to own stocks through at least the November election.After all, markets are strong in election years and financial conditions should continue to improve and/or remain easier than they should be.While dented by the recent correction, this narrative doesn’t really seem to have changed much.

Upslope's Quarterly Investor Letter: Q1 2024

Podcast hosted by Hedgeye CEO Keith McCullough, Real Conversations

Real Conversations

Podcast hosted by Hedgeye CEO Keith McCullough

Hedgeye is an investment research and financial media company founded in 2008. Our core principles are transparency, accountability and trust. Hedgeye’s Real Conversations series, hosted by CEO Keith McCullough, brings together the brightest minds in the business to cut through the noise and discuss the financial market moves that actually matter.LEGALThe opinions expressed in Hedgeye Real Conversations are those of the individual speaking and not of Hedgeye, and should not be construed as specific investment advice. Hedgeye® is a registered trademark. All Hedegye Real Conversations are the intellectual property of Hedgeye. All rights reserved.

Cross Asset Strategy

<ul><li>Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed well</li><li>Domino's reported slightly lower earnings and showed signs of global headwinds, momentum slowing</li><li>China looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflation</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed wellDomino's reported slightly lower earnings and showed signs of global headwinds, momentum slowingChina looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflationThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Hershey delivered an all-around beat in its recent result, driven by timing impacts and strong international sales.</li><li>Hershey views this acquisition as a valuable investment that enhances resilience, flexibility, and overall efficiency in its production network.</li><li>The acquisition of Weaver grants Hershey greater control over the manufacturing process for SkinnyPop, a strategic category experiencing significant growth.</li></ul>

Hershey delivered an all-around beat in its recent result, driven by timing impacts and strong international sales.Hershey views this acquisition as a valuable investment that enhances resilience, flexibility, and overall efficiency in its production network.The acquisition of Weaver grants Hershey greater control over the manufacturing process for SkinnyPop, a strategic category experiencing significant growth.

The Hershey Company: Expansion Of SkinnyPop Through New Acquisition & Other Drivers

<ul><li>Hershey ended the year on a strong note despite macroeconomic uncertainty, continued supply chain disruptions, and inflation.</li><li>Consolidated net sales, organic, constant currency net sales, and reported net income increased and the company managed an all-around beat.</li><li>The growth in net sales was driven mainly by net price realization, with steady consumer demand behind increased capacity and higher advertising levels.</li></ul>

Hershey ended the year on a strong note despite macroeconomic uncertainty, continued supply chain disruptions, and inflation.Consolidated net sales, organic, constant currency net sales, and reported net income increased and the company managed an all-around beat.The growth in net sales was driven mainly by net price realization, with steady consumer demand behind increased capacity and higher advertising levels.

<ul><li>Hershey had a decent result and managed to deliver another all-around beat despite the impact of inflationary headwinds and supply chain issues.</li><li>The company managed to produce a substantial volume growth despite price increases to counter inflation.</li><li>The consumer continues to place a high priority on snacks, especially sweet sweets which is why the trends within their categories have really held strong.</li></ul>

Hershey had a decent result and managed to deliver another all-around beat despite the impact of inflationary headwinds and supply chain issues.The company managed to produce a substantial volume growth despite price increases to counter inflation.The consumer continues to place a high priority on snacks, especially sweet sweets which is why the trends within their categories have really held strong.

United States

The Hershey Company manufactures chocolate and sugar confectionery products. The Company's principal products include chocolate and sugar confectionery products; gum and mint refreshment products; and pantry items, such as baking ingredients, toppings and beverages.

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Hershey Co/The (HSY US)

Upslope's Quarterly Investor Letter: Q1 2024

At the end of Q1, the overwhelming consensus – even among typically cautious types – was that investors needed to own stocks through at least the...

Upslope Capital Management

The Call @ Hedgeye | February 26, 2024

Last week saw a mixed market with Russell down almost 1%, consumer staples and MLPs performing well, Howard's cannabis MSOs showing strength,...

Real Conversations

The Hershey Company: Expansion Of SkinnyPop Through New Acquisition & Other Drivers

Hershey delivered an all-around beat in its recent result, driven by timing impacts and strong international sales. Hershey views this acquisition...

Baptista Research

The Hershey Company: Major Drivers

Hershey ended the year on a strong note despite macroeconomic uncertainty, continued supply chain disruptions, and inflation. Consolidated net...

Baptista Research

Hershey Co: Major Drivers

Hershey had a decent result and managed to deliver another all-around beat despite the impact of inflationary headwinds and supply chain...

Baptista Research

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