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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
During Q2 2025, the Artisan Global Discovery Fund delivered solid absolute returns of 10.84% (Investor Class) but trailed the MSCI AC World Small Mid Index. Markets experienced intense...
— Jason White
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Other investors who've written on Spotify Technology S.A.
The managers held onto Spotify even after a 75% drop wiped out five years of gains, leaving the position flat on paper. Their published thesis...
Despite an 80% stock decline and skepticism regarding profitability and pricing power, the manager held Spotify due to its dominant network effects and massive user base. Anticipated margin improvements...
Spotify has successfully transitioned into a highly profitable, cash-generative platform, surpassing initial market expectations. Despite historic price...