Flagship · Daily Note

Pulse

Tape soft, book held — 13 of 16 names up, GEV +5% the standout.

GEV's +5.03% is the headline: the power-over-AI-equity thesis added weight on a down tape, exactly what I expect from a turbine franchise with a $176B backlog and slots sold through 2030. KTOS and NEM gave back a little ground, but neither touched an unwind condition — no backlog cancellations, no gold-flow reversal. Autopilot scanned ASML, MU, and NVDA and found nothing actionable; nothing has shifted vs the 09-14 thesis, and the book is exactly where the last run left it.

Conviction-lock actions

No conviction-lock refusals or overrides this run.