# ![@KennyAck5 Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1413926110451048450.png) @KennyAck5 Kenny Ackerman

Kenny Ackerman posts on X about $wen, wen, $nrp, business the most. They currently have [---] followers and [--] posts still getting attention that total [--] engagements in the last [--] hours.

### Engagements: [--] [#](/creator/twitter::1413926110451048450/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1413926110451048450/c:line/m:interactions.svg)

- [--] Week [-----] +14,381%
- [--] Month [-----] +290%
- [--] Months [-----] -49%
- [--] Year [------] +203%

### Mentions: [--] [#](/creator/twitter::1413926110451048450/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1413926110451048450/c:line/m:posts_active.svg)

- [--] Week [--] +100%
- [--] Month [--] +80%
- [--] Months [--] +100%
- [--] Year [--] +46%

### Followers: [---] [#](/creator/twitter::1413926110451048450/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1413926110451048450/c:line/m:followers.svg)

- [--] Month [---] +1.30%
- [--] Months [---] +39%
- [--] Year [---] +86%

### CreatorRank: undefined [#](/creator/twitter::1413926110451048450/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1413926110451048450/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[finance](/list/finance)  [stocks](/list/stocks)  [cryptocurrencies](/list/cryptocurrencies)  [currencies](/list/currencies)  [automotive brands](/list/automotive-brands)  [countries](/list/countries)  [fashion brands](/list/fashion-brands)  [luxury brands](/list/luxury-brands)  [social networks](/list/social-networks)  [technology brands](/list/technology-brands) 

**Social topic influence**
[$wen](/topic/$wen) #52, [wen](/topic/wen), [$nrp](/topic/$nrp), [business](/topic/business), [in the](/topic/in-the), [$jack](/topic/$jack), [investment](/topic/investment), [wendys](/topic/wendys), [dividend](/topic/dividend), [cash flow](/topic/cash-flow)

**Top accounts mentioned or mentioned by**
[@ragingbullcap](/creator/undefined) [@pythiar](/creator/undefined) [@hypertonx](/creator/undefined) [@fishtowncap](/creator/undefined) [@orrdavid](/creator/undefined) [@acorncapital](/creator/undefined) [@horizonkinetics](/creator/undefined) [@ceclallowance](/creator/undefined) [@lundeenne](/creator/undefined) [@crowdturtle](/creator/undefined) [@tidefallcapital](/creator/undefined) [@ottermarket](/creator/undefined) [@valuedontlie](/creator/undefined) [@altaycapital](/creator/undefined) [@edgecgroup](/creator/undefined) [@sjoerds78](/creator/undefined) [@nearcertainty1](/creator/undefined) [@stockspinoffss](/creator/undefined) [@remingtonpeter8](/creator/undefined) [@wtibull](/creator/undefined)

**Top assets mentioned**
[WEN Token (WEN)](/topic/$wen) [MPLX LP (MPLX)](/topic/mplx) [British American Tobacco (BTI)](/topic/$bti) [Texas Pacific Land, Corp. (TPL)](/topic/$tpl) [Amerco (UHAL)](/topic/$uhal) [Crocs, Inc. (CROX)](/topic/$crox) [Snap, Inc. (SNAP)](/topic/$snap) [Pinterest, Inc. (PINS)](/topic/$pins) [U-Haul Holding Company (UHAL.B)](/topic/$uhalb) [PBF ENERGY INC. (PBF)](/topic/$pbf) [Tidewater, Inc. (TDW)](/topic/$tdw) [Metaplex (MPLX)](/topic/$mplx) [Valero Energy Corporation (VLO)](/topic/$vlo) [Restaurant Brands International Inc. (QSR)](/topic/$qsr) [Yum! Brands, Inc. (YUM)](/topic/$yum) [Western Midstream Partners, LP. (WES)](/topic/$wes) [ONEOK, Inc. (OKE)](/topic/$oke) [Reddit, Inc.  (RDDT)](/topic/$rddt) [8B People vs [-----] Billionaires (8B)](/topic/$8b)
### Top Social Posts
Top posts by engagements in the last [--] hours

"@OtterMarket Asking because I saw you tweet about $UNTC and I have a position in it. What gives you comfort in $UNTC after previous oil investment"  
[X Link](https://x.com/KennyAck5/status/1688733158605246466)  2023-08-08T02:05Z [---] followers, [---] engagements


"@sjoerds78 @nearcertainty1 @stockspinoffss Thanks for the info Few more questions. [--]. What do you think mgmt will do with Cash Flow and what gives you trust in mgmt [--]. Can they pay off the Mezz anytime with no penalty [--]. Is the $170m mortgage property level and how long until is matures Looks really Intresting"  
[X Link](https://x.com/KennyAck5/status/1720218798978912305)  2023-11-02T23:18Z [--] followers, [--] engagements


"@CECL_Allowance Id go through there property list before shorting many office building are in desirable PHX LA HOU and Dallas sub markets. Some of their buildings are crap but not all. Their buildings were appraised at $1.4B in [----]. EV is $770m currently"  
[X Link](https://x.com/KennyAck5/status/1724468377584795880)  2023-11-14T16:44Z [--] followers, [--] engagements


"@CECL_Allowance Alternatively why would JP Morgan allow these properties to be caved off if they thought there was excessive credit risk A 1-2% higher spread does not make a lender money if they think the spin off will be beoke in [--] years or less"  
[X Link](https://x.com/KennyAck5/status/1724478585031844061)  2023-11-14T17:25Z [--] followers, [--] engagements


"@RemingtonPeter8 @WTIBull $UNTC is the only one I can name. Its half E&P and half drill co. Guy that runs it manages the fund that owns 30% of the company. Incentives matter is my takeaway"  
[X Link](https://x.com/KennyAck5/status/1763069643189596260)  2024-02-29T05:12Z [---] followers, [---] engagements


"@dyer440 @24degC What about $NRP is not appealing to you here Not cheap enough compared to others in space or something else"  
[X Link](https://x.com/KennyAck5/status/1769395585142964239)  2024-03-17T16:09Z [--] followers, [---] engagements


"@ragingbullcap [--]. BTI leaps seem like a much better risk reward opportunity vs. the stock itself. I would choose a 2% position in BTI leaps over a 10% position in the stock. $35 Jan [--] leaps would be current choice. Very cheap non-recourse leverage imo"  
[X Link](https://x.com/KennyAck5/status/1782147410199707865)  2024-04-21T20:40Z [---] followers, [---] engagements


"@ragingbullcap [--]. Never understood BTC have nothing against it just dont know what it does over the long run. [--]. Really like $NRP its my largest position. Have $PBF stock and $MPLX leaps as my refiners of choice think $VLO is good too though. Havent looked at $TDW"  
[X Link](https://x.com/KennyAck5/status/1782147611522138508)  2024-04-21T20:41Z [--] followers, [---] engagements


"@kingdomcapadv Was long $SPH Suburban Propane Partners until early [----]. 6x owner earnings using averaged results. Results weather dependent due to propane business and heating needs. Wouldnt buy back stock and did a mid sized acquisition in late [----] as part of a green transition"  
[X Link](https://x.com/KennyAck5/status/1782386690910224862)  2024-04-22T12:31Z [---] followers, [---] engagements


"@CECL_Allowance Maybe closer to 6.8m sf is correct. Think sf needs to be updated for recent sales and non recourse dispositions of 700k sf they havent taken these off their RE schedule yet"  
[X Link](https://x.com/KennyAck5/status/1786109668835705219)  2024-05-02T19:05Z [--] followers, [--] engagements


"@Hypertonx Thanks makes sense is above mid-cycle view due to global refining supply not keeping pace with demand general inflation over past five years or something else Know that MPC earnings call said that cracks would likely stay higher due to minimal global capacity coming online"  
[X Link](https://x.com/KennyAck5/status/1787228024670491079)  2024-05-05T21:09Z [--] followers, [--] engagements


"@lundeen_ne Exactly how I feel. Ive gotten [--] ideas off of here in the last year. $NLOP in November of last year and I started buying $NRP about [--] moths ago. Following 100-200 accounts that are quality is the way to go if looking for stocks and never wasting any time on For You page"  
[X Link](https://x.com/KennyAck5/status/1816552888061346237)  2024-07-25T19:15Z [--] followers, [---] engagements


"@PythiaR Was skeptical of LeviathanCapit1s whole thread when it stated 300m-$400m in expiring midstream contracts as a revelation for Oxy being undervalued. That maybe gives them $4b in additional value Thats less then 5% of OXY EV. Seemed like bait for views from the start"  
[X Link](https://x.com/KennyAck5/status/1831012528685822368)  2024-09-03T16:53Z [---] followers, [---] engagements


"@PythiaR $OXY is interesting. Dont fully understand why Buffett is in them at the size he is. It is around 10x earnings in $75 oil environment but seems like a bet on oil prices more than anything else"  
[X Link](https://x.com/KennyAck5/status/1831013639677190444)  2024-09-03T16:57Z [---] followers, [---] engagements


"@RodAlzmann $BTI Leaps were mouthwatering at $30/share. Dividend yield of 10% and low implied volatility made the longer term options pricing very cheap. Had never invested in tobacco until I did that earlier this year glad I did"  
[X Link](https://x.com/KennyAck5/status/1832137151640957278)  2024-09-06T19:21Z [---] followers, [--] engagements


"@turtlebay_io @ebitdaddy90 @John_Hempton ever taking a realized loss greater than 3% of equity capital. Interesting never seen it presented like this. Is that an individual position never causing a realized loss of 3+% of equity capital Thats quantification of really taking margin of safety serious over time"  
[X Link](https://x.com/KennyAck5/status/1833175123257606180)  2024-09-09T16:06Z [---] followers, [---] engagements


"@FishtownCap Personally really like $NRP- Natural Resource Partners Coal Royalty business that has minimal debt high operating margins and trades for 6x or less normalized FCF. Have an $MPLX position havent looked at $ET in awhile what do you like about it"  
[X Link](https://x.com/KennyAck5/status/1833665792178552940)  2024-09-11T00:36Z [--] followers, [----] engagements


"@crowdturtle I like $NRP its my largest position but over 50% of there mineral acreage will likely cash flow $0 in the next [--] years. Most of $TPL acreage is under the best oil asset in the world with privately owned mineral rights. $/ acre comparison adds no value between the two imo"  
[X Link](https://x.com/KennyAck5/status/1845996478172422408)  2024-10-15T01:13Z [--] followers, [---] engagements


"@Anton826237141 @crowdturtle I like $NRP its my largest position. Think its worth 10x-12x normalized earnings and trades at 6.5x. Roughly think $150/share is fair value. Downside protection too from minimal leverage and high operating margins. All Im saying is $/acre compared to $TPL does no good"  
[X Link](https://x.com/KennyAck5/status/1846734621624410586)  2024-10-17T02:06Z [--] followers, [---] engagements


"@valuedontlie $BTI Jan [--] $37 strike. The stock is cheap the options are even better. Essentially you are putting down 5% non-recourse on a business that trades at 7x FCF and you have a little over [--] years to expiration. A way to create an attractive LBO via Leaps"  
[X Link](https://x.com/KennyAck5/status/1847064180526141718)  2024-10-17T23:56Z [---] followers, [---] engagements


"@MadisonLackey44 @richard_ersted @valuedontlie Settlement agreement is on Canadian Sub ITCAN. Worse case the subsidiary declares bankruptcy. Impacts the value of BTI by 5% tops. Canada is 5% of revenue/ profits and they knew for years a payment was coming in Canada. Would agree settlement worse than anticipated though"  
[X Link](https://x.com/KennyAck5/status/1847642448207761766)  2024-10-19T14:14Z [---] followers, [---] engagements


"@PythiaR I would add that LEAPs (long term options) can be very attractive if you feel a high dividend yielding stock (5%+ yield) is undervalued. Have 6.0x MOIC on $MPLX LEAPs since early this year vs. 1.35x MOIC on the stock"  
[X Link](https://x.com/KennyAck5/status/1861917689180017024)  2024-11-27T23:39Z [--] followers, [---] engagements


"@PythiaR Would not make Leaps more than 10% of my portfolio (on a cost basis) but they can give you pretty cheap non-recourse leverage when dividend yield is above 5% and IV sub 25%"  
[X Link](https://x.com/KennyAck5/status/1861918190369898674)  2024-11-27T23:41Z [---] followers, [--] engagements


"@PythiaR Totally. Im invested in $BTI leaps have done solid this year but not $PM level. Yes its really tough to from a tax perspective. Once sitting on a large gain you want to make it to a year for tax treatment but definitely a risk in doing so"  
[X Link](https://x.com/KennyAck5/status/1861918787068379483)  2024-11-27T23:43Z [--] followers, [---] engagements


"@Hypertonx Does Valero own some midstream assets directly That would be the only potential flaw I could see in the comparison you are doing"  
[X Link](https://x.com/KennyAck5/status/1869511983940403287)  2024-12-18T22:36Z [--] followers, [---] engagements


"@Hypertonx What were the biggest contributors if you dont mind sharing"  
[X Link](https://x.com/KennyAck5/status/1874577772506661311)  2025-01-01T22:05Z [--] followers, [--] engagements


"@Hypertonx $NRP"  
[X Link](https://x.com/KennyAck5/status/1897397473137844436)  2025-03-05T21:23Z [--] followers, [---] engagements


"@nicolaguida73 They have over $50mil USD on balance sheet after completing the buyback correct"  
[X Link](https://x.com/KennyAck5/status/1901728843108675592)  2025-03-17T20:14Z [--] followers, [--] engagements


"@crowdturtle They have over $50mil USD on balance sheet after completing the buyback correct"  
[X Link](https://x.com/KennyAck5/status/1901728922691359221)  2025-03-17T20:14Z [--] followers, [--] engagements


"@6jykdryyb7 @AKWilk They have over $50mil USD on balance sheet after completing the buyback correct"  
[X Link](https://x.com/KennyAck5/status/1901729022792331706)  2025-03-17T20:15Z [--] followers, [--] engagements


"@EscapeVlcty Are shares liquid enough that you can actually buy them Looks like CEO and other insiders own 81% of the company. Market cap is $330m so only about $50m of this appears to be public float"  
[X Link](https://x.com/KennyAck5/status/1949535901417148577)  2025-07-27T18:22Z [---] followers, [--] engagements


"@AltayCapital @TidefallCapital @orrdavid Any interest in $CROX at 8x Think this sector changed. Used to be easier to be Nike/ Adidas. They were the biggest had scale and could pay MJ LeBron woods etc. the big bucks & for TV ads. Now many smaller brands have success through social & reaching customers"  
[X Link](https://x.com/KennyAck5/status/1951848040832364791)  2025-08-03T03:30Z [---] followers, [---] engagements


"@AltayCapital @TidefallCapital @orrdavid Agree that true high end luxury is different. I dont think Tiffany or Ferrari are losing an edge due to this but anything with a formally good brand in mass market clothing & fashion is approaching my too hard pile"  
[X Link](https://x.com/KennyAck5/status/1951849500634661373)  2025-08-03T03:35Z [---] followers, [--] engagements


"@sidecarcap Are the investment banks large RE brokers and maybe law firms the casino They win no matter if the roll is black or red. The large PE firms might be better than average but still gamblers Suppose it depends if they can keep a good fee structure over time"  
[X Link](https://x.com/KennyAck5/status/1955853114537599306)  2025-08-14T04:44Z [---] followers, [---] engagements


"$WEN Wendys Stock is A 60-Cent Dollar with Appealing LEAPS by @KennyAck5 Also a note on Jack in the Box $JACK Substack Link below: https://open.substack.com/pub/ackermankenny/p/wendys-stock-is-a-60-cent-dollarr=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/ackermankenny/p/wendys-stock-is-a-60-cent-dollarr=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/anyuser/status/1957483155578904755)  2025-08-18T16:42Z [---] followers, [----] engagements


"@TidefallCapital Is your fair value estimate 20% or 50% higher after the Southpark merch drop On a serious note what is $CROX worth Heavily dependent on how durable the business is but do you think they will be selling more or less Crocs in [--] years"  
[X Link](https://x.com/KennyAck5/status/1961203447879135646)  2025-08-28T23:05Z [---] followers, [---] engagements


"@CapitalFang Bought August 12th for $3.90/ contract Jan [--] $22.5 leaps. Riskiest position I have so 1% allocation. At sub 10x EV/ EBIT couple ways this works: - Jack brand SSS bottom out - comp flat or better. Potential rerate - PE or bigger public co ( $YUM / $QSR) gets interested"  
[X Link](https://x.com/KennyAck5/status/1965099620893426161)  2025-09-08T17:07Z [---] followers, [--] engagements


"@orrdavid You do have to believe that US refined petroleum products will be around 10+ years from now at 75%+ or the volumes they are today (I do)"  
[X Link](https://x.com/KennyAck5/status/1579566092338331648)  2022-10-10T20:14Z [---] followers, [--] engagements


"@lundeen_ne Wow own $NLOP but at about half the position size as you. What do you love here"  
[X Link](https://x.com/KennyAck5/status/1843808477166350777)  2024-10-09T00:19Z [---] followers, [---] engagements


"My Last [---] Years of Investing (1/1/22 6/30/2025) - 30.5% annualized return vs. 9.9% for the S&P [---] - 154% total return vs. 38% for the S&P [---] by @KennyAck5 https://open.substack.com/pub/ackermankenny/p/my-last-35-years-of-investing-1122r=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/ackermankenny/p/my-last-35-years-of-investing-1122r=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/anyuser/status/1941924048415625549)  2025-07-06T18:15Z [---] followers, 15K engagements


"@lundeen_ne @RTelford_invest Wow I own $NLOP but only 10% What do you have KBR building valued at and whats fair value per share at this point post recent dividend"  
[X Link](https://x.com/KennyAck5/status/1958731683378995336)  2025-08-22T03:23Z [---] followers, [---] engagements


"@johnkmason $WES isnt killing it either just flat as of late"  
[X Link](https://x.com/KennyAck5/status/1958897632400789953)  2025-08-22T14:22Z [---] followers, [--] engagements


"@FishtownCap $OKE EPS grew 60% since [----] (shares outstanding grew 50% to present). $3.50/ share annual dividend paid along the way. Solid performance and trades at [----] levels. Serial acquirer but it has worked If they started buying back stock here it would get me interested"  
[X Link](https://x.com/KennyAck5/status/1959429825724322042)  2025-08-24T01:37Z [---] followers, [---] engagements


"@FishtownCap Used to own Magellan Midstream which they purchased [--] years ago"  
[X Link](https://x.com/KennyAck5/status/1959432646137901227)  2025-08-24T01:48Z [---] followers, [--] engagements


"@sigmazerocap Fair but also have to believe that mgmt is going to treat non-voting shareholders alright to not have insane expenses and stock based comp. Both $Snap and $Pins have twice the revenue of $rddt now trade at 2.5x and 6x revenue respectively. Neither are really profitable"  
[X Link](https://x.com/KennyAck5/status/1984008535706104258)  2025-10-30T21:24Z [---] followers, [---] engagements


"@EdgeCGroup Hi Jim agree with and like the post. Do you have thoughts on other franchise restaurant stocks here Based on the multiple of this transaction both Wendys $WEN and Jack in the Bock $JACK look appealing to me"  
[X Link](https://x.com/KennyAck5/status/1985883888124903661)  2025-11-05T01:36Z [---] followers, [---] engagements


"@EdgeCGroup Wrote them up $WEN and $JACK here: $WEN Wendys Stock is A 60-Cent Dollar with Appealing LEAPS by @KennyAck5 Also a note on Jack in the Box $JACK Substack Link below: https://t.co/4j6yNkDHpF $WEN Wendys Stock is A 60-Cent Dollar with Appealing LEAPS by @KennyAck5 Also a note on Jack in the Box $JACK Substack Link below: https://t.co/4j6yNkDHpF"  
[X Link](https://x.com/KennyAck5/status/1985884148125614142)  2025-11-05T01:37Z [---] followers, [---] engagements


"@evfcfaddict I have them at 7x EV/ EBIT and 9x PE to shareholders about right to you They can keep repurchasing 10% of shares annually and paying 2.5% dividend assuming multiple is flat. But do they sell whole entity lever up and do another tender sell another hospital $DR.TO"  
[X Link](https://x.com/KennyAck5/status/1988387144449355940)  2025-11-11T23:23Z [---] followers, [---] engagements


"@OtterMarket $WEN Wendys trades for 11x EV / EBIT 8.5x earnings. Fair amount of leverage but fixed at 5% for five years. Quality business tied for second largest QSR burger chain in US. $JACK Jack in the box also interesting but more uncertainty"  
[X Link](https://x.com/KennyAck5/status/1995995497082048898)  2025-12-02T23:16Z [---] followers, [---] engagements


"$TPL deserves a higher multiple than $NRP but $NRP is much cheaper. Note $TPL likely has best IRR over time in shale. O&G operators in aggregate are 0% over [--] yrs TPL 100x. Find a business that takes a toll on the growth of others thats a very good business. - Buffett @ragingbullcap @acorn_capital There are a many free call options under the hood with no expiration date. That is the beauty of this this asset type - owning millions of acres of royalty interests from the surface to core of the earth. Surprised @HorizonKinetics doesn't own a large chunk. @ragingbullcap @acorn_capital There are"  
[X Link](https://x.com/anyuser/status/2011549168112976303)  2026-01-14T21:21Z [---] followers, [---] engagements


"@orrdavid This is a decent portion of my reasoning for owning MMP - Magellan Midstream. Weighted average maturity on their debt is well over [--] years at 4.5% fixed. They are only 35% debt to EV so not a super high leverage load but they trade at 9% EBIT/ EV and 11% FCF yield"  
[X Link](https://x.com/KennyAck5/status/1579565214584156160)  2022-10-10T20:11Z [---] followers, [--] engagements


"Good and bad to start the year: - Largest position $NRP is up 20% YTD - Second largest $MFCSF up 10% - Fifth largest position $WEN stock and leaps down 15% YTD Trimming $WEN to a 3% position in the DEC [--] $5 LEAPs. Was around an 8% position"  
[X Link](https://x.com/anyuser/status/2022372946161893722)  2026-02-13T18:10Z [---] followers, [---] engagements


"@FishtownCap Cynic in me says they probably could have just bought back stock with cash flow left after dividend for past [--] years and achieved similar results. Inflation driving EBIT up on a levered base probably would of caused 40% NI growth over [--] years"  
[X Link](https://x.com/KennyAck5/status/1959432351269957898)  2025-08-24T01:47Z [---] followers, [--] engagements


"@Akston_Capital @Catahoula_Value @Ron284Ron I struggle with $UHAL I want to like it but think it takes a cap allocation change to make this investable. I think the true FCF of what the business could be is masked because they invest nearly every last dime of cash back into the business (excluding a tiny 0.5% yield)"  
[X Link](https://x.com/KennyAck5/status/2000646773308899613)  2025-12-15T19:18Z [---] followers, [--] engagements


"Thoughts/ thread on $UHAL / $UHAL.B I want to like it but think it takes a cap allocation change to make this investable. I think the true FCF of what the business could be is masked because they invest nearly everything back into the business (excluding a tiny 0.5% yield)"  
[X Link](https://x.com/anyuser/status/2000652177770172793)  2025-12-15T19:40Z [---] followers, [---] engagements


"@natstewart5 @ragingbullcap @acorn_capital @HorizonKinetics Assuming due to size. $NRP has been just over $1b market cap. @HorizonKinetics has $8B AUM a 2% position for them would be 10%+ of market cap. Kicked myself for not buying $TPL in Oct [----] when I looked at it made sure to buy $NRP in size at around $90"  
[X Link](https://x.com/KennyAck5/status/2011544697437839799)  2026-01-14T21:03Z [---] followers, [---] engagements


"@undrvalue EV calcs appear to have finance leases and op leases included in Net Debt not wrong depending how your defining Net Debt but without those Wendys $WEN is closer to [----] EV/ EBIT others are lower as well"  
[X Link](https://x.com/KennyAck5/status/2013656616638255432)  2026-01-20T16:55Z [---] followers, [---] engagements


"@ragingbullcap I really want to like it ($SNAP) and $PINS but both the founders have super voting stock and treat the share registry like free money. Is this changing or same as it has been"  
[X Link](https://x.com/KennyAck5/status/2021968376768475649)  2026-02-12T15:23Z [---] followers, [----] engagements


"$WEN Underwriting 03% SSS CAGR over time. Ops-dependent story. If SSS is 10% above today in [--] yrs equity likely works well. If SSS is down leverage bites and it gets even messier. International helps at the margin but its minor. 2.5% LEAP position now"  
[X Link](https://x.com/anyuser/status/2022377772145094679)  2026-02-13T18:30Z [---] followers, [--] engagements


"$WEN Underwriting 03% SSS CAGR over time. Ops-dependent story. If SSS is 10% above today in [--] yrs equity likely works well. If SSS is down leverage bites and it gets even messier. International helps at the margin but its minor. 2.5% LEAP position now"  
[X Link](https://x.com/anyuser/status/2022377772145094679)  2026-02-13T18:30Z [---] followers, [--] engagements


"Good and bad to start the year: - Largest position $NRP is up 20% YTD - Second largest $MFCSF up 10% - Fifth largest position $WEN stock and leaps down 15% YTD Trimming $WEN to a 3% position in the DEC [--] $5 LEAPs. Was around an 8% position"  
[X Link](https://x.com/anyuser/status/2022372946161893722)  2026-02-13T18:10Z [---] followers, [---] engagements


"$TPL deserves a higher multiple than $NRP but $NRP is much cheaper. Note $TPL likely has best IRR over time in shale. O&G operators in aggregate are 0% over [--] yrs TPL 100x. Find a business that takes a toll on the growth of others thats a very good business. - Buffett @ragingbullcap @acorn_capital There are a many free call options under the hood with no expiration date. That is the beauty of this this asset type - owning millions of acres of royalty interests from the surface to core of the earth. Surprised @HorizonKinetics doesn't own a large chunk. @ragingbullcap @acorn_capital There are"  
[X Link](https://x.com/anyuser/status/2011549168112976303)  2026-01-14T21:21Z [---] followers, [---] engagements


"@ragingbullcap @acorn_capital There are a many free call options under the hood with no expiration date. That is the beauty of this this asset type - owning millions of acres of royalty interests from the surface to core of the earth. Surprised @HorizonKinetics doesn't own a large chunk"  
[X Link](https://x.com/anyuser/status/2011220860783444145)  2026-01-13T23:36Z 16.6K followers, [----] engagements


"Thoughts/ thread on $UHAL / $UHAL.B I want to like it but think it takes a cap allocation change to make this investable. I think the true FCF of what the business could be is masked because they invest nearly everything back into the business (excluding a tiny 0.5% yield)"  
[X Link](https://x.com/anyuser/status/2000652177770172793)  2025-12-15T19:40Z [---] followers, [---] engagements


"NOI from storage business is $700m but they keep reinvesting into more storage. The business should have higher margins than a decade ago because storage is a 50%+ NOI margin much higher than moving. Storage investment is upfront so existing storage is a great cash flow engine"  
[X Link](https://x.com/anyuser/status/2000652376408281255)  2025-12-15T19:41Z [---] followers, [--] engagements


"If they would eventually scale down investment back in the business this would be investable but they keep reinvesting and its very hard to determine true ROIC with many moving parts. Also impossible to get great ROR reinvesting everything in perpetuity in any business"  
[X Link](https://x.com/anyuser/status/2000652561070891505)  2025-12-15T19:41Z [---] followers, [--] engagements


"$WEN Wendys Stock is A 60-Cent Dollar with Appealing LEAPS by @KennyAck5 Also a note on Jack in the Box $JACK Substack Link below: https://open.substack.com/pub/ackermankenny/p/wendys-stock-is-a-60-cent-dollarr=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/ackermankenny/p/wendys-stock-is-a-60-cent-dollarr=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/anyuser/status/1957483155578904755)  2025-08-18T16:42Z [---] followers, [----] engagements


"Great article on the Kelly Criterion and its application to investing. Ive thought about this topic many times but hadnt come across a piece that explains it as clearly as Oliver Sung does here. The final sectionThe Kelly criterion applied to value investingdives into a niche area and in my view combines two powerful concepts that work especially well together. If youre a value investor heres how to actually use the Kelly criterion. https://t.co/a3bLByayQU If youre a value investor heres how to actually use the Kelly criterion. https://t.co/a3bLByayQU"  
[X Link](https://x.com/anyuser/status/1947022849278898394)  2025-07-20T19:56Z [---] followers, [---] engagements


"If youre a value investor heres how to actually use the Kelly criterion. https://sungcap.com/kelly-criterion/ https://sungcap.com/kelly-criterion/"  
[X Link](https://x.com/anyuser/status/1944291138443071959)  2025-07-13T07:01Z [----] followers, [----] engagements


"My Last [---] Years of Investing (1/1/22 6/30/2025) - 30.5% annualized return vs. 9.9% for the S&P [---] - 154% total return vs. 38% for the S&P [---] by @KennyAck5 https://open.substack.com/pub/ackermankenny/p/my-last-35-years-of-investing-1122r=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/ackermankenny/p/my-last-35-years-of-investing-1122r=1n44m0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"  
[X Link](https://x.com/anyuser/status/1941924048415625549)  2025-07-06T18:15Z [---] followers, 15K engagements


"Started a Substack - Substack Intro Post https://open.substack.com/pub/ackermankenny/p/intror=1n44m0 https://open.substack.com/pub/ackermankenny/p/intror=1n44m0"  
[X Link](https://x.com/anyuser/status/1883311685982896397)  2025-01-26T00:31Z [---] followers, [---] engagements


"John Templeton quote on this from 20+ years ago. Positive mental attitude helps in every way. It helps you physically mentally financially in every way. In fact I think you ought to focus on that write articles on it. As I said when Abraham Lincoln was assassinated"  
[X Link](https://x.com/anyuser/status/1671555073158291458)  2023-06-21T16:26Z [---] followers, [----] engagements


"Must read. Thanks @NateSilver538. This is interesting but I think a more likely explanation is that media culture (including the NYT of course) tends to focus on negative storylines and otherwise caters to people with high neuroticism. https://t.co/n4S8iIpBnA This is interesting but I think a more likely explanation is that media culture (including the NYT of course) tends to focus on negative storylines and otherwise caters to people with high neuroticism. https://t.co/n4S8iIpBnA"  
[X Link](https://x.com/anyuser/status/1671370098848956416)  2023-06-21T04:10Z 714K followers, 45.4K engagements


"nobody in Europe heard about it for [--] days. There were more bad things happening [---] years ago than there are now. But today communication is so enormous that were flooded with news and theres a fault in human nature. If youre passing a newsstand and a stack of newspapers"  
[X Link](https://x.com/anyuser/status/1671555285364903936)  2023-06-21T16:26Z [---] followers, [---] engagements


"one of which says [------] airplanes landed safely today and one that says one airplane crashed youll buy the newspaper that says the one airplane crashed But there are less troubles than ever and we dont realize because we read about all the problems"  
[X Link](https://x.com/anyuser/status/1671555325433118721)  2023-06-21T16:27Z [---] followers, [---] engagements

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