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.

Home Letters Funds Account

Madison Small Cap Fund's investment thesis on GitLab ($GTLB) — Q4 2025 | Buyside Digest

All Pitches

View Letter Analysis

$GTLBNASDAQGitLab

BULL

Madison Small Cap Fund—GTLB

Fund Letter

Q4 2025

Published December 31, 2025

View Fund Profile

$35.35USD

-29.0% vs last month

$36.18Pitched

-2.3% since pitch

Market Cap$6.0B

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Technical Chart

From the Fund Letter

The Madison Small Cap Fund experienced a deeply disappointing 2025, significantly underperforming the Russell 2000 benchmark. This underperformance was...

— Faraz Farzam, Aaron Garcia

BSD Research Exclusive

Unlock Full Institutional Investment Theses

Full equity research memos, financial breakdowns, and hedge fund thesis write-ups are reserved for BSD Research ($55/mo) and Pro subscribers.

6,000+ Institutional Pitches

Proprietary AI Analysis

100 Letter Unlocks/Cycle

SUBSCRIBE TO BSD RESEARCH ($55/MO)Compare All Plans

Already a Research or Pro subscriber? Sign In

◆ Keep Reading

What other investors think about $GTLB, and what else Madison Small Cap Fund is buying.

Other pitches on $GTLB

Other investors who've written on GitLab

Middle Coast Investing LLCBULL

Pitched Apr 10, 2026

Gitlab has experienced a substantial sell-off driven by market concerns that generative AI will make its software development coordination platform obsolete. However, AI adoption...

RGA Investment AdvisorsBULL

Pitched Aug 20, 2026

We bought shares in GitLab. GitLab is a...

View all $GTLB pitches →