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

Horizon Kinetics's investment thesis on Cboe Global Markets, Inc. ($CBOE) — Q2 2026 | Buyside Digest

All Pitches

View Letter Analysis

$CBOECboe Global Markets, Inc.

BULL

Horizon Kinetics

Fund Letter

Q2 2026

Published July 1, 2026

View Fund Profile

$292.25USD

Current Market Price

Market Cap$29.9B

Technical Chart

From the Fund Letter

Cboe Global Markets ($CBOE) represents an attractively valued regulated derivatives exchange pursuing near 24/5 U.S. equity trading.

— Murray Stahl

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 ($50/mo) and Pro subscribers.

Institutional Pitch Library

Proprietary AI Analysis

100 Letter Unlocks/Quarter

SUBSCRIBE TO BSD RESEARCH Compare All Plans

Already a Research or Pro subscriber? Sign In

◆ Keep Reading

What other investors think about $CBOE, and what else Horizon Kinetics is buying.

Other pitches on $CBOE

Other investors who've written on Cboe Global Markets, Inc.

Manole Capital ManagementBULL

Pitched Sep 1, 2026

The manager includes CBOE Global Markets among top-tier exchange operators that generate significant operating leverage by selling proprietary analytics, connectivity, and trade execution.

View all $CBOE pitches →