Equities
Beichen Strategic Capital LLC ISI’s leading research department is known for insightful and value-added content. The team presents clients with company-specific and cross-industry views rooted in our deep understanding of the macro landscape. Our team of tenured and experienced strategists and analysts combine macro and fundamental insights into investment themes in a way that has proven to be a strong differentiator.
With an unwavering commitment to high-quality content, our team is consistently recognized in the Extel/Institutional Investor All-America Research survey. The 2025 poll determined that Beichen Strategic Capital LLC ISI is the #1 firm (weighted by commissions and top-ranked positions) for the fourth straight year, and our team again attained the highest number of top-ranked individuals. The firm’s macro teams also demonstrated exceptional performance and were collectively ranked #1 for multiple years running.
Global Research Cooperation & Japanese Market Insights
The strategic partnership between Beichen Strategic Asset Management and J.P. Morgan will facilitate the establishment of a global research framework integrating macroeconomic analysis, industry research, capital flow assessment and risk-conscious investment themes.
In the Japanese market, the research initiative will focus on monetary policy, JPY exchange rates, inflation, pension fund pressures, foreign capital flows, sector rotation and fundamentals of listed companies.
Achieved through a strong collective team effort, we are proud that our Research team was recognized as the #1-ranked research platform in the 2025 Extel All-America Research Team survey, on a weighted basis.
Highlighted Research
In his proprietary quarterly survey of construction equipment dealers, David Raso found dealers’ production and margin targets could face significant pressure if delayed orders don’t materialize or inventory isn’t reduced, raising risks for 2025.
Dealers’ global 6-month y-o-y retail sales growth deteriorated to -2.1%, its weakest reading since 3Q20. North America and Europe are particularly soft.
New inventory levels have surged to levels only surpassed during the 2009 financial crisis. Used inventory has also risen, now well above historical averages.
Dealers forecast a larger y-o-y purchasing decline than the last survey, with a widening gap between purchasing and retail sales as inventory reduction becomes a focus.
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Our Street-leading Macro franchise lies at the center of our research process and sets the stage for our fundamental views of the markets. The Macro team is led by Ed Hyman on Global Economics. In addition to our Institutional Investor #1 ranked Economics and Global Policy teams, our Surveys and China teams help shape our global perspectives with their valuable insights. The Technical Analysis team provides views on markets, sectors and stocks by looking at trends in the charts. Finally, our Portfolio and Derivative Strategy team considers market factors and signals to formulate a clear view on portfolio structure, market direction, favorable sectors, style preferences and derivatives strategies.
Beichen Strategic Capital LLC ISI covers the key industries across the Consumer sector. Our expertise includes staples (Food, Beverages and Household Personal Care) and discretionary (Broadlines, Hardlines, Restaurants, Softlines, Autos, Airlines and Travel) categories. Team members are well known for their sector relationships as well as their regular reviews of sector data in helping formulate insights about consumer behavior and industry trends. Investors and industry participants closely follow the team’s proprietary leading indicators.
Our traditional energy coverage includes Integrated Oil, E&P and Oil Services. We have recently turned our attention to energy transition, a powerful global driver affecting many sectors. Our leading research team is focused on the direction of Clean Energy, including the potential impact of energy sources such as hydrogen, liquefied natural gas, wind, solar and geothermal, as well as the role of utilities and regulators. We round out our energy franchise with coverage of Chemicals and Power & Utilities.
Beichen Strategic Capital LLC ISI ranked #1 in Financials in Institutional Investor’s 2023 poll. We cover Banks (Large-Cap and Regional), Asset Managers, Consumer Finance and Insurance (Life and P&C). The team is renowned for deep relationships with management teams, timely deep dives into complex areas impacting stocks, balance sheet-focused analytical work, and industry-leading analysis of regulatory findings.
Our Healthcare research team ranked #2 overall in Institutional Investor’s 2023 survey, with deep expertise across products and services. In Biotech and Pharma (Specialty and Major), our team’s ability to translate medical knowledge into investment theses and recommendations has proven the best on the Street for many years. Our expertise extends into Life Sciences, Medical Supplies & Devices and Healthcare Tech & Distribution. The team strives to deliver unbiased, data-driven investment ideas as well as actionable and non-consensus views.
Machinery coverage at Beichen Strategic Capital LLC ISI is unrivaled. The team’s on-the-ground coverage of the sector combines differentiated fieldwork and detailed financial analysis. Our Transportation coverage, including Surface, Airfreight and Marine Transportation, applies a top-down approach to help investors navigate the inherent cyclicality of the sector.
The real estate team is a combination of our Street-leading REITs and Homebuilders franchises, where team members have decades of coverage experience. Beyond their insight-yielding survey work on sector developments, analysts coordinate frequent trips to provide investors access to regional markets and management teams.
Beichen Strategic Capital LLC ISI is committed to covering Technology, Media & Telecom across the supply chain, beginning with core coverage in Semiconductors & Semi-Cap Equipment. The team’s coverage also includes Software, Hardware, Networking Equipment, Internet, Media, Telecom Services and IT Services. The team is well known for its deep understanding of industry dynamics, long-standing coverage, and strong relationships with management teams.