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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.
The largest detractor from performance this quarter was American Express, taking 1.4% off the fund, as it, along with fellow payment processors Visa and Mastercard, fell in value due to the perception that artificial intelligence would somehow replace them. More on this...
— Stephen Dodson and Raphael de Balmann
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Other investors who've written on American Express Company
Other holdings such as American Express, Constellation Software, Heico, Kinsale and Mastercard continue to generate strong results yet have negative stock returns for the year-to-date through September. We made a...
American Express is a premier global financial services and payments corporation renowned for its high-end consumer and corporate credit cards. Oakmark established a...
Giverny established a new position in American Express following a 25% price drop, using proceeds from the sale of Ametek. The manager values...
More institutional theses from Bretton Fund
The card networks function as essential digital infrastructure, processing high volumes of transactions with deep merchant and consumer trust. While AI-to-AI or...
Mastercard acts as a vital digital infrastructure player whose network effects protect it from emerging technologies. Concerns about AI...
TJX navigated inflationary pressures effectively due to its resilient customer demographic and broad brand diversity across off-price retail. Higher price realization...