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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.
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...
— William A. Ackman
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Other investors who've written on Intercontinental Exchange Inc
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.
Intercontinental Exchange benefits from a highly diversified business model and secular tailwinds in energy markets driven by the global energy transition. Recent market volatility...
More institutional theses from Pershing Square Holdings
QSR's share price declined 1% during the third quarter but remains up 7% year-to-date, as we believe investors are beginning to better appreciate the durability of its growth. While peers have...
Meta’s share price increased 29% during the third quarter and 10% year-to-date. Its core advertising...
Amazon’s share price increased 5% during the third quarter and 8% year-to-date. Business momentum remains...