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a kind of advantage

Scarcity assets and regulatory position

A company in here is hard to displace because it — owns a thing that cannot be built or permitted twice.

The engine files a reason under 3 labels here: scarcity asset, regulatory position, reserve cushion. Every company below argues at least one of them, and every reason counted carries the sentence from the filing it rests on.

12 companies · 13 reasons
Intercontinental ExchangeICEregulatory position · scarcity asset2 reasonsADPADPregulatory position1 reasonBroadcomAVGOscarcity asset1 reasonCapital OneCOFreserve cushion1 reasonChubbCBreserve cushion1 reasonCME GroupCMEregulatory position1 reasonMeta PlatformsMETAscarcity asset1 reasonNucorNUEregulatory position1 reasonTerexTEXregulatory position1 reasonTexas InstrumentsTXNregulatory position1 reasonU.S. BancorpUSBreserve cushion1 reasonUnited Parks & ResortsPRKSscarcity asset1 reason
the other kinds
Cost and scale advantage →Switching costs, data moats and network effects →Pricing power and brand →Distribution density →Service annuity →Every argument, in one index →
Teniq

We read the filings, write down the reasons you own something, and tell you what each new filing did to them.

filings only · no prices · no recommendations

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