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BARRON'S MIDYEAR ROUNDTABLE — 45 PICKS (px 7/8/26)
Theme: fade crowded AI, buy the cheap rest — energy, materials, healthcare, SMID value

ELLENBOGEN / Durable Cap — growth compounders
DASH 189.35 · BSP 34.23 · FERG 221.46

ROGERS / Ariel — SMID value, disc to PMV
MAT 13.17 · JLL 324.03 · SMG 65.22 · ZBRA 264.32

GIROUX / T. Rowe — SMID biotech M&A + defensives
ASND 277.18 · MLTX 19.07 · DYN 23.83 · PCVX 58.71 · CYTK 84.88 · CGON 69.80 · DNLI 26.69 · ALNY 323.50 · COR 309.57 · AUR 6.15

COHEN / Columbia — sw + intl, macro-uneasy
NOW 107.78 · SAP 157.42 · MNDY 81.02 · 600900 CH 27.83 · 600905 CH 3.73 · 4452 JP 3,337 · 012450 KS 1,031,000

BLACK / Delphi — cheap high-ROE cash gen
EXPE 260.31 · URBN 68.02

JAIN / GQG — bearish AI, long energy/defensive
XOM 141.13 · TTE FP 69.35 · PBR 17.24 · BP 39.21 · 857 HK 9.12

DESAI / Franklin Templeton — income; closing GLD
NLY 22.53 · AGNC 10.94 · EADOX 8.64 · LAGVX 2.41 · FLMI 24.97 · FRIAX 2.52 · PSDYX 10.12

AHLSTEN / Parnassus — S&P tgt 8,100; phys-econ moats
VMC 286.59 · LIN 527.67 · DHR 190.77 (dropped BSX)

ROSSBACH / J. Stern — data-center power/networking
ANET 181.05 · ETN 399.56 · SU FP 263.80

WITMER / Eagle Cap — deep value ~5x fwd earnings
BCO 103.76 · OI 9.52