Monthly Message
For August, the Wutherich & Co. Composite was up 1.6%.
The Wutherich & Company Composite eked out a small gain in August on the back of what were, mostly, strong quarterly results for the names in the portfolio.
Total Energy Services (TOT-T) stands out as one of the stronger companies in the portfolio this year. While we have relatively little direct exposure to the Artificial Intelligence (AI) boom, we do have some indirect exposure. TOT makes compression equipment that can be used to help power AI data centers. Their backlog in this equipment has exploded over the last several quarters and should provide them with years of strong sales in this division. They also provide oil and gas drilling services which are benefitting from power center demand for natural gas as well as growing demand for this fuel source in North America and abroad. We’ve owned this stock, almost continuously, since 2001, giving you an idea of the kinds of hold periods that we strive for in the portfolio.
We still have cash in the portfolio. Some of it has been deployed in a new name. More about this in the coming months. Additional cash will also be deployed in existing names if stock prices come off in what is proving to be a very choppy market.
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