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Waratah’s Top US Stocks Flying Under the Radar

Energy stocks are down over the past month despite the war in Iran. Tech stocks have come roaring back. But this hedge fund manager says the market has it all wrong. Jason Landau, Group Head, Executive Vice President & Portfolio Manager at Waratah Capital Advisors believes “the left tail in the market is totally mispriced” and says “the best hedge in the market today is being long oil.”

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3 Under the Radar US Stocks:

1. Cheniere Energy (LNG)
Hard-asset infrastructure play with toll-like economics and geopolitical tailwinds.

  • Toll-Based Model with No Commodity Exposure: Cheniere owns two major LNG terminals on the Gulf Coast that convert pipeline gas to liquid form in minutes via a fee-based toll (roughly $2.50–$3 per unit), shrinking volume 100-fold for global shipping. Customers bear the gas price risk, delivering stable, contracted cash flows (90–95% contracted).
  • Geopolitical Supply Shift Driving Higher Pricing: As the world’s second-largest LNG producer (behind Qatar), Cheniere benefits from disruptions like Iranian drone strikes taking ~20% of Qatar’s facilities offline for years. Buyers (e.g., Malaysian utilities) are willing to pay premiums for stable U.S. supply, supporting higher long-term contract prices on expansions.
  • Expansion and Portfolio Hedge Value: Two new expansion facilities are underway with long-term contracts locked in. The stock serves as an excellent diversified hedge—buy more on ceasefire-driven pullbacks—as it offers hard assets with low obsolescence in an uncertain energy landscape.

2. SharkNinja (SN)

Innovative consumer products company stealing share through creativity and value pricing.

  • Proven Track Record of Category Creation and Market Share Gains: SharkNinja revitalizes legacy categories with fresh designs, colors, and innovation (e.g., turning the $50M ice cream maker market into $200M with 80% share via its Creami machine). They consistently launch ~20–25 new products annually that undercut premium competitors like Dyson by 50–60%.
  • Resilient Execution Despite Tariff Headwinds: After pausing some innovation in 2025 due to tariff uncertainty on Asian production, the company is rebounding strongly with high-20s new products targeted this year. This execution-driven story supports internal earnings estimates near $8/share (vs. Street ~$7 for 2027).
  • Significant Upside to Fair Value: At ~$115 today, a conservative 20x multiple on growing earnings implies ~$160/share potential. Margin expansion over time adds further torque to the growth engine.

3. Welltower (WELL)

Best-in-class senior housing REIT riding powerful demographic tailwinds.

  • Aging Population Megatrend with Pricing Power: In 2004, 1 in 8 Americans was over 65; today it’s 1 in 5. Welltower owns premium senior living facilities for affluent residents who monetize home and portfolio equity, enabling ~10% annual pricing increases with little pushback.
  • Short-Stay Model Enables Rapid Repricing: Average resident stay is ~2 years, allowing full repricing of units upon turnover without landlord-tenant restrictions. This keeps rents well above inflation while acquiring and turning around under-occupied assets (80% → 90–95% occupancy).
  • Superior Asset Quality and Capital Allocation: Focuses exclusively on top properties in prime locations (U.S., Canada, UK), including standout Canadian assets like AMA. Prefers reinvesting capital into high-ROI improvements over high dividends—delivering better long-term compounding than peers.

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DISCLAIMERS: This text AI generated and should be checked against actual delivery. The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.

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