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APD · Air Products & Chemicals $283.00 -3.12 (-1.09%) 2026-SEP-18 12:48 EST

My allocationNot heldas of 2026-SEP-03 · allocation page ↗
Research: QT · SA · STK · FA1 mention
2026-JAN-27 · Pieter Slegers · Compounding Quality (Substack, free post) · Positiveinsight · read ↗ · source page ↗$261.50

In short: #10, yield 2.7%. Industrial gases — oxygen, nitrogen, hydrogen — to electronics, energy and healthcare. The pricing-power argument is the archive's recurring low-cost-share test: "Industrial gases are a tiny fraction of a customer's total cost but are vital for production. This makes for long customer relationships and high switching costs." The contract structure is the real asset: "most of their revenue is secured via 15-to-20-year 'take-or-pay' contracts, creating predictable cash flows." Growth optionality from blue and green hydrogen.

SOD $261.50

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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.