about

Know what you hold.

You own something for a handful of reasons. Companies file hundreds of pages a year, and somewhere in them is the sentence that undoes one of those reasons. We read the filings, write down the reasons, and tell you what each new filing did to them.You own something for a handful of reasons. We read the filings, write those reasons down, and tell you what each new filing did to them.

not a screener · not a feed · not a dashboard

what happens

We read the filing.

Every sentence of it, once — the annual and quarterly reports a company files, and nothing else. No transcripts, no news, no analyst notes.

We write down the reasons.

A handful of plain claims about why the business is hard to displace. Each one comes from the filing, not from an opinion, and each is shown with the sentence it came from.

We watch them.

A condition is set on each reason — the thing that would change our mind. When the next filing lands it is read against those conditions, and you are written to either way, including when nothing moved.

a reason someone owns General Electricmoved · direction unstated

nothing here is invented

Installed base of approximately 50,000 commercial and 30,000 military engines supports aftermarket services business representing approximately 70% of revenueServices revenue increased due to increased internal shop visit volume and workscopes, higher spare parts volume and pricingInternal shop visit revenue growth of 30% in the first half of 2026

what the newest filing did to it

The description of RPO growth drivers changed from citing contract modifications and engines entering service to citing commercial actions and increases to existing long-term service agreements, relevant to the services backlog.

the sentence it rests on

“as a result of commercial actions and increases to existing long-term service agreements”

The report says this changed. It does not say whether that is good or bad, so neither do we — and that is often the more useful finding, because it tells you where to look.

The argument in full →

the four things we can say

holds

The filing said something about this reason and it still stands.

weakening

The filing weakened it. Not gone — less true than it was, and the sentence that changed is shown.

moved

The report says this changed. It does not say whether that is good or bad, so neither do we.

not readable

We could not read the filing well enough to say. That is about our reading, not about the company, and it never looks like one of the three above.

Four things, and a fifth that is not a state: read, and nothing in the filing bore on this reason. A quiet filing is written up as work performed, not left blank.

what we do not do

We do not tell you what to buy or sell.

We report what a filing did to a reason. What you do about it is yours, and we never see your positions.

Nothing here is written to move you.

We do not explain why a company changed.

The filing states a change; it rarely states a cause. Where it does not, we say so and stop rather than guessing.

No cause is invented to sound knowing.

We do not watch prices, or news, or anything but filings.

If a letter arrives from us, a filing caused it. Nothing here reacts to a share price.

A letter always has a document behind it.

We do not rank, score, or rate anything.

There is no number on a company and no league table. The arguments are grouped by the kind of advantage they rest on, never ordered by strength.

No number stands in for reading the reason.

We do not read every company.

The reading stops somewhere, and the page that says where is one click away. If we have not read yours, we tell you that instead of showing you a shell.

the close

Read one before you decide anything about us.

Any company in the index, in full, without an account: every reason, every finding, and the sentence each one rests on. Then the only question left is whether you want the next filing read for you.

Read a company · free Where our reading stops

See it done once, on a real filing →