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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.
Explore professional investment ideas sourced from institutional letters, short theses, and premium research channels, distilled into concise summaries.
| Pitch Type | Author | Industry | Pitch Thesis & Key Summary | Bull/Bear | Action | ||
|---|---|---|---|---|---|---|---|
| Sep 8, 2026 | Fund Letter | Scott KlarquistSeven Corners Capital Management, LLC | TobaccoTobacco | Long TPB (Turning Point Brands, Inc.) Turning Point Brands ($TPB) manufactures and markets alternative smoking and smokeless tobacco products, highlighted by legacy household brand names including Zig-Zag rolling papers and Stoker's tobacco. Representing 14.4% of... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Pontus DackmoProtean Small Cap | Construction & EngineeringConstruction & Engineering | Protean Small Cap - SKA-B.ST Since Anders Danielsson became CEO in 2018, the quality of Skanska's order backlog has improved materially, with a much larger share of projects carrying higher gross margins than historically. Combined with an... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Andrew JakubowskiAdestella Investment Management | -- | Adestella Investment Management - BELF.B Bel Fuse, an electronic component manufacturer, was a rather straightforward valuation play. We purchased our... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Cameron McKendryTurtle Creek | Consumer FinanceConsumer Finance | Turtle Creek Fund - BFH With two other companies, one of them has risen 150% (Bread Financial) in the last twenty-four months. We've written in... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Cameron McKendryTurtle Creek | Food ProductsFood Products | Turtle Creek Fund - PBH.TO Another large detractor from our performance in 2026 is Premium Brands, a company that we have owned for over 20 years (at various weightings) and is currently one of our largest holdings. Premium Brands is... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Jason & JesseDKAM Donville Kent Asset Management | -- | DKAM Donville Kent Asset Management - BAMI.TO Before coming public, Blue Ant grew earnings at a 15% CAGR over the past 5 years. The streaming sector... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Tectonic Investors | Investment Banking & BrokerageCapital Markets | Tectonic Investors - IBKR Interactive Brokers was one of the Fund's standout listed performers over the quarter, with the share price appreciating by approximately +30%. The company's Q1... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Ross GlotzbachLongleaf Partners Global Fund | Jollibee Foods Corporation $JBFCF• NASDAQ | -- | Longleaf Partners Global Fund - JBFCF Global quick-service restaurant chain Jollibee was among the top detractors in the quarter. The weakness in... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Ross GlotzbachLongleaf Partners Global Fund | Building ProductsBuilding Products | Longleaf Partners Global Fund - FBIN Building products company Fortune Brands contributed for the quarter. While the company... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Southeastern Asset Management, Inc.Longleaf Partners Small-Cap Fund | Movies & EntertainmentEntertainment | Longleaf Partners Small Cap Fund - BATRA The owner of the Atlanta Braves baseball team and surrounding real estate was a contributor during the quarter. The highlight during... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Richard OldfieldOldfield Partners Overstone World All Cap Equity Fund | -- | Oldfield Partners Overstone World All Cap Equity Fund - BTRW.L Barratt has suffered from a general failure in the UK housing market. The present government... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Southeastern Asset Management, Inc.Longleaf Partners Fund | Building ProductsBuilding Products | Longleaf Partners Fund - FBIN Building products company Fortune Brands contributed for the quarter. While the company... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | David G. Herro, Tony Coniaris, Eric Liu, M. Colin Hudson, John A. SitarzOakmark Global Select Fund | BNP Paribas SA $BNP.PA• EURONEXT | BanksBanks | Oakmark Global Select Fund - BNP.PA BNP Paribas was the top contributor during the quarter. Results for the... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Paul CerroCedar Grove Capital Management | BiotechnologyBiotechnology | Cedar Grove Capital Management - ABVX During the quarter, we increased our positions in Nektar Therapeutics (NKTR), Abivax SA (ABVX), The Oncology Institute (TOI), and Evolv Technologies (EVLV). NKTR and ABVX... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | William C. Nygren, Michael A. Nicolas, Robert F. BierigOakmark Fund | Booking Holdings $BKNG• NASDAQ | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Oakmark Fund - BKNG Booking Holdings is a U.S.-headquartered online travel marketplace connecting hotels, alternative accommodation providers, and travelers across more than 220 countries. As the leading... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Steve JohnsonForager Australian Shares Fund | Application SoftwareSoftware | Forager Australian Shares Fund - BVS.AX The Fund fully exited Bravura Solutions and Catapult early in the financial year, only to see both stocks back in the portfolio by February as software valuations fell. Bravura added 1.9%... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Faraz Farzam, Aaron GarciaMadison Small Cap Fund | Belden Inc. $BDC• NYSE | Communications EquipmentCommunications Equipment | Madison Small Cap Fund - BDC Belden is a 120-year-old specialty networking and connectivity company that has spent the past six years deliberately transforming from a commodity wire and cable maker to an integrated IT/OT (information technology/operational technology) networking and solutions provider, serving industrial automation, smart buildings, broadband service providers, and data centers. The economics of... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Alpha Wealth Funds The Insiders Fund | -- | Alpha Wealth Funds The Insiders Fund - IBB The iShares Biotechnology ETF seeks to track the investment results of an index composed of U.S.-listed equities in the biotechnology sector. Biotech drug discovery... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Alpha Wealth Funds The Insiders Fund | Abbott Laboratories $ABT• NYSE | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Alpha Wealth Funds The Insiders Fund - ABT Abbott Laboratories is a global healthcare leader focused on life-changing technologies. Founded in 1888,... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Amy ZhangAlger Small Cap Focus Fund | FORTE BIOSCIENCES INC $FBRX• NASDAQ | -- | Alger Small Cap Focus Fund - FBRX Forte Biosciences is a clinical-stage biopharmaceutical company developing FB102, an anti-CD122 monoclonal antibody with potential application across a range of autoimmune conditions, including celiac disease, vitiligo, and alopecia areata. We view Forte... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Tom Treanor & Charlotte CuthbertsonAVI Worldwide Opportunities Fund | -- | AVI Worldwide Opportunities Fund - BSIF.L On the first day of June, one of our largest positions, Bluefield Solar Income Fund (BSIF), announced a binding offer to take it private at a premium of 17% to the previous day's closing share price. Our first purchase... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Dr Ian Mortimer, CFAGuinness Global Innovators | Application SoftwareSoftware | Guinness Global Innovators - ADBE Adobe returned -2.5% in USD over Q2 and was sold during the quarter. We initially bought... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Haruki Toyama, Andy Romanowich, Rich EisingerMadison Mid Cap Fund | Telecommunication ServicesTelecommunication Services | Madison Mid Cap Fund - LBRDK We sold shares in Liberty Broadband (LBRDK), which derives nearly all its value from its ownership position in Charter Communications. A more mature... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | John W. RogersAriel Appreciation Fund | Energy Equipment & ServicesEnergy Equipment & Services | Ariel Appreciation Fund - CLB By comparison, oil services company Core Laboratories (CLB) declined over the quarter as geopolitical tensions, weather disruptions, and softer U.S. land drilling activity impacted performance. These factors weighed... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Matt Burdett, Christian Hoffmann, Brian McMahonThornburg Equity Income Builder Fund | IndustrialsIndustrials | Thornburg Equity Income Builder Fund - BIRG.L Diversified financial services provider serving Ireland and UK customers. +3.5% in 1H... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Matt Burdett, Christian Hoffmann, Brian McMahonThornburg Equity Income Builder Fund | Kimberly-Clark Corp $KMB• NYSE | Household ProductsHousehold Products | Thornburg Equity Income Builder Fund - KMB Global health & hygiene product producer. +8.8% in 1H... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Matt Burdett, Christian Hoffmann, Brian McMahonThornburg Equity Income Builder Fund | BNP Paribas SA $BNP.PA• EURONEXT | BanksBanks | Thornburg Equity Income Builder Fund - BNP.PA Multinational commercial & capital markets bank. Operations centered in... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | BNP Paribas SA $BNP.PA• EURONEXT | BanksBanks | Thornburg International Equity Fund - BNP.PA BNP Paribas was a leading contributor to portfolio performance for the quarter. Multinational commercial &... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | John W. Rogers, Jr.Ariel Fund | Energy Equipment & ServicesEnergy Equipment & Services | Ariel Fund - CLB By comparison, oil services company Core Laboratories (CLB) declined over the quarter as geopolitical tensions, weather disruptions and softer U.S. land drilling activity impacted performance. These factors weighed... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Ariel Investments, LLCAriel Small Cap Value Strategy | The Brink's Co. $BCO• NYSE | Commercial Services & SuppliesCommercial Services & Supplies | Ariel Small Cap Value Strategy - BCO Logistics and cash management services provider, Brink's Company (BCO), also underperformed, despite posting an earnings beat and reaffirming its full-year outlook. Cost pressures were... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Ariel Investments, LLCAriel Small Cap Value Strategy | Energy Equipment & ServicesEnergy Equipment & Services | Ariel Small Cap Value Strategy - CLB Conversely, oil services company Core Laboratories (CLB) declined over the quarter as geopolitical tensions, weather disruptions and softer U.S. land drilling activity impacted performance. These factors weighed... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Ganes Capital Management LimitedGanes Focused Value Fund | Auto ComponentsAuto Components | Ganes Focused Value Fund - ARB.AX ARB Corporation has been the largest detractor on fund performance for the financial year with the share price down more than 40% since last June and it has halved since its AGM in October last year. The worst of... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Ganes Capital Management LimitedGanes Focused Value Fund | InsuranceInsurance | Ganes Focused Value Fund - AUB.AX For a company that has rarely rated a mention in fund updates because its results are so consistent and without controversy, AUB has been front and centre for much of the past year. The share price... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Andrew Choi & Shivani VohraParnassus Growth Equity Fund | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Parnassus Growth Equity Fund - BSX Boston Scientific detracted after growth slowed in two of its key businesses, its electrophysiology franchise and Watchman heart implant, due to growing competition and mixed clinical trial results. We exited the... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Jason Wolf, Ryan DobratzThird Avenue Real Estate Value Fund | Health Care Providers & ServicesHealth Care Providers & Services | Third Avenue Real Estate Value Fund - BKD As far as real estate operating companies, the Fund increased its position in Brookdale Senior Living (Brookdale) during the period. As covered in... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Matthew FineThird Avenue Value Fund | -- | Third Avenue Value Fund - BZU Looking across many of the Fund's holdings today, ownership of strategic, very difficult to replicate tangible assets immediately come to mind, such as U.S. cement and aggregates production assets, an area in which many strategic transactions have taken place. The Fund owns... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Matthew SweeneyLaughing Water Capital | Theravance $TBPH• NASDAQ | BiotechnologyBiotechnology | Laughing Water Capital - TBPH Theravance Biopharma was introduced in our Q1'26 letter. Following the failure... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Matthew SweeneyLaughing Water Capital | AnaptysBio Inc $ANAB• NASDAQ | BiotechnologyBiotechnology | Laughing Water Capital - ANAB AnaptysBio is a special situation that I expect will resolve itself very quickly. In brief, following... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Benjamin Allen, Todd Ahlsten, Andrew ChoiParnassus Core Equity Fund | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Parnassus Core Equity Fund - BSX Boston Scientific detracted after growth slowed in two of its key businesses—its electrophysiology franchise and Watchman heart implant for reducing stroke risk—amid growing competition and mixed clinical trial results. We exited the... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Brent JacksonKathmandu Capital | Transportation InfrastructureTransportation Infrastructure | Kathmandu Capital - OMAB Grupo Aeroportuario del Centro Norte (OMAB) is a leading airport operator in Mexico, founded in 1998 as part of the country's airport privatization initiative. The company operates... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Amy ZhangAlger Mid Cap Focus Fund | Nebius Group $NBIS• NASDAQ | Interactive Media & ServicesInteractive Media & Services | Alger Mid Cap Focus Fund - NBIS Nebius Group is a specialized AI infrastructure company that provides a full-stack platform, including GPU-accelerated cloud computing, to help enterprises build, train, and deploy large-scale artificial intelligence models. The company has... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | The Heartland Investment TeamHeartland Value Fund | Photronics $PLAB• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Heartland Value Fund - PLAB Earlier this year, we reduced our stake in PLAB, a leading manufacturer of photomasks that are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication process. The shares more... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Emma Fisher & Matt WilliamsAirlie Australian Share Fund | Diversified BanksBanks | Airlie Australian Share Fund - WBC.AX Westpac is a great illustration of the changing market forces driving share prices. In FY23 it... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Emma Fisher & Matt WilliamsAirlie Australian Share Fund | SteelMetals & Mining | Airlie Australian Share Fund - BSL.AX The top three relative contributors to gross performance during the quarter were Aristocrat (+37%), BlueScope Steel (+24%) and BHP (+18%). As ever with... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Mark L. YockeyArtisan International Fund | Construction & EngineeringConstruction & Engineering | Artisan International Fund - BAB.L Babcock detracted despite continued operational progress. Shares of the... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Mark L. YockeyArtisan International Fund | BNP Paribas SA $BNP.PA• EURONEXT | BanksBanks | Artisan International Fund - BNP.PA BNP Paribas was a top contributor to the portfolio. The French bank... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Jay WarnerArtisan Partners Small Cap Fund | Household DurablesHousehold Durables | Artisan Partners Small Cap Fund - IBP IBP is the second-largest insulation installer in the US and manages the full installation process—from material procurement to scheduling, logistics and installation. Recent results were... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Achilleas TaxildarisThe Bristol Gate U.S. Equity Strategy | W.R. Berkley $WRB• NYSE | InsuranceInsurance | The Bristol Gate U.S. Equity Strategy - WRB R. Berkley is a... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Tom Wetherald and Eddie ReillyMinot Light Capital Partners | Bob's Discount Furniture $BOBS• NASDAQ | -- | Minot Light Capital Partners - BOBS Bob's Discount Furniture was one of several non-tech IPOs underwritten by blue-chip underwriters that barely moved or fell on day one and then subsequently collapsed in the following month. After reading their... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Matt Kamm, Jason White, Jim Hamel, Angela Wu, Jay WarnerArtisan Mid Cap Fund | MongoDB, Inc. $MDB• NASDAQ | Application SoftwareSoftware | Artisan Mid Cap Fund - MDB MongoDB is a leading database software provider for modern, cloud-native applications. Recent results exceeded... | BULL | View Pitch → |
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Investment pitches and theses displayed on Buyside Digest are summaries of opinions expressed in publicly available investor letters, research reports, or other commentary. These summaries are generated for informational and research purposes only and do not constitute investment recommendations, financial advice, or an endorsement of any particular security or strategy by Buyside Digest. Users should conduct their own independent due diligence and consult with professional advisors before making any investment decisions.