Every argument we have derived, by kind of advantage

A company in here is hard to displace because it —

These are reasons to hold rather than reasons a rival cannot displace it. They do not complete the sentence, so they are not forced into a kind.

52 carry labels the table does not name yet: franchise succession, pipeline depth, float income, path to profitability, operational reset, second source, contractual lock-in, reinvestment flywheel, capital access, technology moat, funding advantage, backlog conversion, regulatory unlock, liquidity inflection, defense hedge, negative-cost capital, conglomerate diversification, portfolio segmentation, asset-light scale, volatility harvester, geographic diversification, network ownership, marketplace conversion, silicon asset, optionality platform, franchise flywheel, demand resilience, process licensing moat, capacity scarcity, pipeline optionality, sole-source franchise, stockpile replenishment, budget certainty, strategic deterrent monopoly, indication breadth, launch cadence, cost discipline, innovation cadence, category diversification, innovation flywheel, supply chain resilience, opportunistic sourcing, format portability, vertical integration, asset repricing, deposit stickiness, category leadership, supply chain moat, interest rate management, omnichannel leverage, franchise royalty, architectural moat.

by company by argument

AbbvieABBV4 reasons AlphabetGOOGL4 reasons Applied DigitalAPLD4 reasons Applied Materials Inc /DeAMAT4 reasons Ast SpacemobileASTS4 reasons Automatic Data ProcessingADP4 reasons Berkshire HathawayBRK-B4 reasons Berkshire HathawayBRK.B4 reasons BroadcomAVGO4 reasons Capital One FinancialCOF4 reasons ChevronCVX4 reasons Chubb LtdCB4 reasons Cme GroupCME4 reasons ComstockLODE4 reasons CopartCPRT4 reasons DraftkingsDKNG4 reasons Eli Lilly &LLY4 reasons First Citizens BancsharesFCNCA4 reasons General ElectricGE4 reasons Honeywell InternationalHON4 reasons IntelINTC4 reasons Intercontinental ExchangeICE4 reasons Johnson & JohnsonJNJ4 reasons Jpmorgan Chase &JPM4 reasons Linde PlcLIN4 reasons Meta PlatformsMETA4 reasons NucorNUE4 reasons Oportun FinancialOPRT4 reasons OracleORCL4 reasons PfizerPFE4 reasons Qualcomm Inc/DeQCOM4 reasons RtxRTX4 reasons S&P GlobalSPGI4 reasons TerexTEX4 reasons Texas InstrumentsTXN4 reasons Uber TechnologiesUBER4 reasons Union PacificUNP4 reasons United Parks & ResortsPRKS4 reasons Us BancorpUSB4 reasons Walt DisneyDIS4 reasons Wells Fargo & Company/MnWFC4 reasons

each kind, on its own page

Cost and scale advantage →Switching costs, data moats and network effects →Pricing power and brand →Scarcity assets and regulatory position →Distribution density →Service annuity →

A company in here is hard to displace because it —

These are reasons to hold rather than reasons a rival cannot displace it. They do not complete the sentence, so they are not forced into a kind.

by company by argument

each kind, on its own page

Cost and scale advantage →Switching costs, data moats and network effects →Pricing power and brand →Scarcity assets and regulatory position →Distribution density →Service annuity →