Market Expression

Inflation Pressures

Which equities should benefit if this thesis is correct — tracked over time as an accountability mechanism.

Market Expression

Not investment advice. We track these equities to see how they confirm or challenge our thesis, not to make investment recommendations. Do your own research.

Reference Index

iShares TIPS Bond ETF(TIP)

Tracks inflation-protected treasuries — the canonical direct inflation hedge benchmark

12m

+0.1%

Since inception

-0.1%

Updated Feb 19, 2026

View index details →

Stock	Rationale	12m	Since Add
NEM1st Order Newmont Corporation	World's largest gold miner. Gold is the canonical monetary debasement hedge — if governments run persistent deficits and negative real rates, gold mining margins expand structurally.	+159.7%	-0.3%
DVN1st Order Devon Energy	US energy producer benefiting from higher energy costs driven by reshoring demand and energy transition capex. Variable dividend model returns cash to shareholders as commodity prices rise.	+19.4%	+0.0%
FCX1st Order Freeport-McMoRan	Copper is essential for energy transition and reshoring buildout. Structural supply deficit meets rising demand from electrification, grid expansion, and factory construction.	+65.3%	-0.4%
COST2nd Order Costco	Membership model with extraordinary pricing power. Benefits from consumer trade-down in inflationary environment while passing through costs. Membership renewal rate >90% provides recurring revenue floor.	+4.4%	-3.0%
DE2nd Order Deere & Company	Agricultural equipment monopoly with pricing power. Food inflation drives farm profitability which drives equipment demand. Precision agriculture and autonomy technology create additional margin expansion.	+41.0%	+9.8%
BRK-B2nd Order Berkshire Hathaway	Diversified real asset portfolio with pricing power across insurance, utilities, railroads, and manufacturing. Buffett's $200B+ cash pile benefits from higher rates. The ultimate inflation-resilient conglomerate.	-6.7%	-0.1%
AMT3rd Order American Tower	Cell tower REIT with contractual 3% annual rent escalators built into long-term leases. Real asset (towers) with inflation-linked income. Benefits from 5G buildout and data demand regardless of macro.	-15.1%	-3.8%
PSA3rd Order Public Storage	Self-storage REIT with short-duration leases that reprice to market monthly. Fastest inflation pass-through of any real estate sector. Low capex, high free cash flow, recession-resilient demand.	-0.3%	-0.6%

NEM1st Order

12m

+159.7%

Since add

-0.3%

Newmont Corporation

World's largest gold miner. Gold is the canonical monetary debasement hedge — if governments run persistent deficits and negative real rates, gold mining margins expand structurally.

DVN1st Order

12m

+19.4%

Since add

+0.0%

Devon Energy

US energy producer benefiting from higher energy costs driven by reshoring demand and energy transition capex. Variable dividend model returns cash to shareholders as commodity prices rise.

FCX1st Order

12m

+65.3%

Since add

-0.4%

Freeport-McMoRan

Copper is essential for energy transition and reshoring buildout. Structural supply deficit meets rising demand from electrification, grid expansion, and factory construction.

COST2nd Order

12m

+4.4%

Since add

-3.0%

Costco

Membership model with extraordinary pricing power. Benefits from consumer trade-down in inflationary environment while passing through costs. Membership renewal rate >90% provides recurring revenue floor.

DE2nd Order

12m

+41.0%

Since add

+9.8%

Deere & Company

Agricultural equipment monopoly with pricing power. Food inflation drives farm profitability which drives equipment demand. Precision agriculture and autonomy technology create additional margin expansion.

BRK-B2nd Order

12m

-6.7%

Since add

-0.1%

Berkshire Hathaway

Diversified real asset portfolio with pricing power across insurance, utilities, railroads, and manufacturing. Buffett's $200B+ cash pile benefits from higher rates. The ultimate inflation-resilient conglomerate.

AMT3rd Order

12m

-15.1%

Since add

-3.8%

American Tower

Cell tower REIT with contractual 3% annual rent escalators built into long-term leases. Real asset (towers) with inflation-linked income. Benefits from 5G buildout and data demand regardless of macro.

PSA3rd Order

12m

-0.3%

Since add

-0.6%

Public Storage

Self-storage REIT with short-duration leases that reprice to market monthly. Fastest inflation pass-through of any real estate sector. Low capex, high free cash flow, recession-resilient demand.

Prices updated on market close. Returns since addition date.