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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.
Third Avenue Value Fund returned 1.25% in Q2 2026, trailing broad indices as markets favored semiconductors and AI speculation while the Fund remained positioned in out-of-favor global value opportunities. The portfolio's core...
— Matthew Fine
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Other investors who've written on Valaris
The fund completely exited its stake in Valaris following its announced all-stock acquisition by Transocean, realizing a 140% return over a one-year holding period. While the manager...
We own a collection of offshore services companies (drillships, jack-ups and OSVs), in the belief that offshore spending will increase in the future as a percentage of overall oilfield spending.
In 2020 when oil traded below zero, drilling activity ground to a halt and many energy service providers declared bankruptcy.