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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.
Intercontinental Exchange (ICE) was the top detractor during the quarter. The financial exchange...
— William C. Nygren
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Other investors who've written on Intercontinental Exchange Inc
ICE’s share price rose 2% from our average cost in the third quarter as record volumes on ICE’s futures and options exchanges and accelerating growth in its data businesses have been somewhat offset by concerns around the sustainability of recent Exchanges volumes, the perceived threat of perpetual futures, and the impact of higher rates on Mortgage Technology. We remain confident...
Intercontinental Exchange operates leading global financial exchanges, clearing houses, and market data infrastructure networks, notably including the New York Stock Exchange and dominant mortgage technology networks. The manager views...
The manager cites Intercontinental Exchange as a vital market infrastructure leader benefiting from recurring revenues in data, analytics, clearing, and mortgage technology solutions.
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Paycom Software ($PAYC), comprising 4.4% of fund net assets, provides comprehensive cloud-based human capital management and payroll software solutions to businesses. The manager maintains...
Meta Platforms ($META) was initiated as a new 3.5% fund position during the quarter. The company operates...
Ally Financial ($ALLY), representing 2.8% of portfolio assets, is a leading digital consumer bank and the premier independent automotive lender in the United States. Despite recent share...