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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 | ||
|---|---|---|---|---|---|---|---|
| Oct 13, 2026 | Fund Letter | Ross GlotzbachLongleaf Partners Global Fund | Canal+ S.A. $CAN.PA• EURONEXT | -- | Long CAN.PA (Canal+ S.A.) French and African pay-TV operator Canal+ was a detractor for the quarter. It has now... | BULL | View Pitch → |
| Oct 13, 2026 | Fund Letter | David G. HerroOakmark Fund International Small Cap | -- | Long ARCAD.AS (Arcadis NV) Arcadis NV is a leading global engineering and design consultancy serving infrastructure, water, environmental, and buildings markets, benefiting from long-term growth drivers including infrastructure investment, sustainability initiatives, and increasing project complexity. The company possesses... | BULL | View Pitch → | |
| Oct 12, 2026 | Fund Letter | Steve JohnsonForager Australian Shares Fund | Electronic Equipment, Instruments & ComponentsElectronic Equipment, Instruments & Components | Long CAT.AX (Catapult Sports Ltd) Catapult Sports (ASX:CAT) is one example. The business is... | BULL | View Pitch → | |
| Sep 8, 2026 | Fund Letter | Scott KlarquistSeven Corners Capital Management, LLC | Maplebear Inc. (Instacart) $CART• NASDAQ | Broadline RetailBroadline Retail | Long CART (Maplebear Inc. (Instacart)) Instacart's stock appreciated about 2% in 1H 2026, underperforming the overall market, but remains up well over 50% from SCC's cost basis. In Q2 2026... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Nik DvornakPlatinum International Brands Fund | Caterpillar Inc. $CAT• NYSE | MachineryMachinery | Platinum International Brands Fund - CAT Caterpillar (+36%) was another strong performer, shrugging off a 14% fall in profit. Steel is a... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Dominick D'AngeloO'Keefe Stevens Advisory, Inc | Callaway Golf Company - US $CALY• NASDAQ | -- | O'Keefe Stevens Advisory, Inc - CALY Post the announced sale of their TopGolf business, the next catalyst to the story is demonstrating the clean, high-quality business of the remaining club, ball, and apparel business. Q1 net sales... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | John Whelan and Kevin BertoliPM Capital Australian Companies Fund | -- | PM Capital Australian Companies Fund - CAPS.TO Capstone Copper contributed positively to performance after shares rose almost 30% over the period. Regular readers of... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Stuart Pearce, Alexis DelloyeAlluvium Global Fund | HCA Healthcare, Inc. $HCA• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | Alluvium Global Fund - HCA Our two healthcare companies had a poor quarter (in terms of share price performance, not business fundamentals). HCA Healthcare, the... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Louis CamhiRLH Capital | D. BORAL ARC ACQ I CORP. $BCAR• NASDAQ | -- | RLH Capital - BCAR D. Boral ARC Acquisition... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Daniel S. LoebThird Point Partners | Arcosa Inc - US $ACA• NYSE | Construction & EngineeringConstruction & Engineering | Third Point Partners - ACA CRH's recently announced agreement to acquire Arcosa is a significant extension of this strategy and the largest transaction in the company's history. The $8.5 billion... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Justin Bergner, CFAThe Gabelli Dividend Growth Fund | Arcosa Inc - US $ACA• NYSE | Construction & EngineeringConstruction & Engineering | The Gabelli Dividend Growth Fund - ACA Arcosa Inc. (2.1% of net assets as of June 30, 2026) (ACA – $145.29 – NYSE) provides infrastructure-related products and solutions across its construction products and engineered structures segments. On June 22nd,... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Mario J. Gabelli, CFA, Willis BruckerThe Gabelli ABC Fund | Arcosa Inc - US $ACA• NYSE | Construction & EngineeringConstruction & Engineering | The Gabelli ABC Fund - ACA Arcosa Inc. provides infrastructure-related products and solutions across its construction products and engineered structures segments. The Construction Products... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Christopher E. HillaryProsper Stars & Stripes | Telecommunication ServicesTelecommunication Services | Prosper Stars & Stripes - CABO Cable One (CABO) was the second largest contributor to our short book during the quarter. Cable One provides... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | ArrowMark PartnersMeridian Contrarian Fund | CACI International Inc $CACI• NASDAQ | IT ServicesIT Services | Meridian Contrarian Fund - CACI CACI International, Inc. is an IT consultant and provider of mission-critical technology to the U.S. Government and its agencies, which account for nearly 95% of its sales. CACI plays a... | NEUTRAL | View Pitch → |
| Sep 1, 2026 | Fund Letter | Christopher R. PaveseBroyhill Asset Management | BanksBanks | Long FCNCA (First Citizens BancShares, Inc.) On the buy side, we initiated First Citizens BancShares and added ServiceNow, Intuit, and HubSpot in May. First Citizens BancShares,... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Donny, Erwin, Nick, and the Lakehouse TeamLakehouse Small Companies Fund | Electronic Equipment, Instruments & ComponentsElectronic Equipment, Instruments & Components | Long CAT.AX (Catapult Group International Limited) Catapult hosted an investor day during the month, which attracted strong institutional interest -- unsurprising given the company's strong progress, dominant market position and recent inflection to profitability. CEO Will Lopes... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Steve JohnsonForager Australian Shares Fund | Electronic Equipment, Instruments & ComponentsElectronic Equipment, Instruments & Components | Long CAT.AX (Catapult Group International Ltd) That is not going to erase portfolio volatility. We still have... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Andreas AaenSymmetry Invest | IndustrialsIndustrials | Long CAT-B.ST (Catella AB) In 2024, Catella focused on positioning its business for a stronger real estate market. The company streamlined... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Daniel ShvartsmanMiddle Coast Investing | BanksBanks | Long FCNCA (First Citizens BancShares) First Citizens Bank (FCNCA) is our newest purchase, and a 1% position so far. It is the... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Stuart Pearce, Alexis DelloyeAlluvium Global Fund | HCA Healthcare, Inc. $HCA• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | Long HCA (HCA Healthcare, Inc.) HCA Healthcare (up 15.3%) also reported strong results with solid growth in non-Covid related admissions, and benefiting from better staffing conditions (fewer contractors needed and lower turnover levels). Management increased its... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Scott KlarquistSeven Corners Capital Management, LLC | Maplebear Inc. (Instacart) $CART• NASDAQ | Broadline RetailBroadline Retail | Long CART (Maplebear Inc.) Instacart's stock appreciated 76% in 2024, outperforming the S&P 500 by about 50%, reflecting the continued success of the company's underlying business model. In Q3 2024,... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Ross & Van Compernolle | IndustrialsIndustrials | Long GTCAP.PS (GT Capital Holdings Inc) As the Philippines was the last country out of full lockdowns in 2022, the earnings for listed companies there are likely to be incredibly positive in 2023. As a result... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Jeremy KokemorRight Tail Capital | HCA Healthcare, Inc. $HCA• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | Right Tail Capital - HCA HCA Healthcare (HCA). It is a... | NEUTRAL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Investment CommitteeTweedy, Browne International Value II | -- | Long CAMTEK.TA Camtek is an Israel-headquartered maker of metrology and inspection equipment used in the production of integrated circuits. The company's products... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Gerard Ferguson & Rick UmmatJemekk Hedge Fund | Aerospace & DefenseAerospace & Defense | Long CAE.TO (CAE) CAE Inc. (CAE) is a Canadian multinational simulation and training company headquartered in Montreal, Quebec. The company is... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Patrick BrennanBrennan Asset Management, LLC | -- | Long CAB.L We increased our position in Compass Diversified Holdings (CODI) and CAB Payments (CAB), two names that caused considerable headaches over the past 12-24 months, and both have dutifully produced a good bit of drama during the first quarter. For a trip... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Cullen Capital Management LLC / Schafer Cullen Capital Management IncCullen Small Cap Value Equity | PACCAR Inc $PCAR• NASDAQ | MachineryMachinery | Long PCAR (PACCAR Inc) PACCAR (PCAR) was sold from the strategy during the quarter. PACCAR manufactures and... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Christian RytherCurreen Capital | Consumer FinanceConsumer Finance | Long CACC (Credit Acceptance Corporation) We sold Kambi in the quarter, reinvesting the proceeds into Credit Acceptance. When I compared... | BULL | View Pitch → | |
| Aug 17, 2026 | Substack | scalpavelliSubstack (scalpavelli) | Consumer StaplesConsumer Staples | Sunday Market Prep (#18)Carlsberg – CABGY Carlsberg is a Danish brewer trading at ~13x 2027 earnings consensus. The company is... | NEUTRAL | View Pitch → | |
| Aug 16, 2026 | Substack | rijnberkinvestinsightsSubstack (rijnberkinvestinsights) | Caterpillar Inc. $CAT• NYSE | MachineryMachinery | Caterpillar – When a Cyclical Stops Trading Like OneCaterpillar Inc. – CAT Caterpillar Inc. has demonstrated impressive growth, driven by strong demand for its reciprocating engines and gas turbines, particularly from the AI infrastructure boom. The company's Q2... | BULL | View Pitch → |
| Aug 7, 2026 | Other | Barometer Capital Management | Caterpillar Inc. $CAT• NYSE | MachineryMachinery | Barometer Capital Management – CAT B), and a new position in CSX (CSX). GE Vernova (GEV)... | BULL | View Pitch → |
| Feb 25, 2026 | Fund Letter | David BurrowsBarometer Capital Management Inc. | Caterpillar Inc. $CAT• NYSE | MachineryMachinery | Barometer Capital Management 2025 Q4 (CAT) CAT continued to benefit from robust demand in its energy & transportation business, which has become increasingly tied to expanding global power needs, particularly the build-out of AI data centers requiring reliable on-site generation capacity. Caterpillar and Finning... | BULL | View Pitch → |
| Jan 29, 2026 | Fund Letter | Christopher SmithAntero Peak Group | Caterpillar Inc. $CAT• NYSE | MachineryMachinery | Antero Peak Group 2025 Q4 (CAT) Caterpillar is positioned at a cyclical trough with multiple secular tailwinds emerging simultaneously. Construction and mining... | BULL | View Pitch → |
| Jan 29, 2026 | Fund Letter | George Bolton, Ali, George EllimanWestEnd Capital | Caterpillar Inc. $CAT• NYSE | MachineryMachinery | WestEnd Capital 2025 Q4 (CAT) Caterpillar is increasingly a software- and data-driven industrial platform rather than a pure equipment manufacturer, using connected machines, cloud analytics, and AI to grow high-margin services and smooth cyclicality. The company has... | BULL | View Pitch → |
| Jan 29, 2026 | Fund Letter | David M. PoppeGiverny Capital Asset Management | Consumer FinanceConsumer Finance | Giverny Capital Asset Management 2025 Q4 (CACC) Credit Acceptance endured a challenging period as credit losses normalized following unusually favorable post-pandemic conditions. The market has... | BULL | View Pitch → | |
| Jan 28, 2026 | Fund Letter | Randy GwirtzmanBaron Discovery Fund | -- | Baron Discovery Fund 2025 Q4 (CAS) We recently initiated a position in Casella Waste Systems, Inc., the fifth largest waste management and recycling company in North America. The company has... | BULL | View Pitch → | |
| Jan 28, 2026 | Fund Letter | Tony ConiarisHarris Associates Concentrated Strategy | BanksBanks | Harris Associates Concentrated Strategy 2025 Q4 (FCNCA) First Citizens Bancshares was a contributor during the quarter. The U.S.-headquartered diversified... | BULL | View Pitch → | |
| Jan 27, 2026 | Fund Letter | Stuart Pearce, Alexis DelloyeAlluvium Global Fund | HCA Healthcare, Inc. $HCA• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | Alluvium Global Fund 2025 Q4 (HCA) HCA Healthcare reported pleasing results and management upgraded its full year's earnings guidance by 4.8% at the EPS level. With it buying... | BULL | View Pitch → |
| Jan 27, 2026 | Fund Letter | H. George Dai, Joshua D. BennettAlger Weatherbie Specialized Growth Fund | ACADIA Pharmaceuticals Inc. $ACAD• NASDAQ | BiotechnologyBiotechnology | Alger Weatherbie Specialized Growth Fund 2025 Q4 (ACAD) Acadia Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing medicines that address unmet needs in central nervous system (CNS) disorders. Its products include... | BULL | View Pitch → |
| Jan 20, 2026 | Fund Letter | Scott KlarquistSeven Corners Capital Management, LLC | Maplebear Inc. (Instacart) $CART• NASDAQ | Broadline RetailBroadline Retail | Seven Corners Capital 2025 Q4 (CART) Instacart delivered steady operating performance in 2025, with double-digit growth in orders and gross transaction value alongside expanding profitability. While the stock... | BULL | View Pitch → |
| Jan 8, 2026 | Fund Letter | Daniel S. LoebThird Point Partners | Casey's General Stores $CASY• NASDAQ | Other Specialty RetailSpecialty Retail | Third Point Partners 2025 Q2 (CASY) During the quarter, we continued adding to a new long position in Casey's General Stores. At ~2,900 locations,... | BULL | View Pitch → |
| Jan 8, 2026 | Fund Letter | David SteinthalL1 Capital International Fund | HCA Healthcare, Inc. $HCA• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | L1 Capital International Fund 2025 Q2 (HCA) HCA Healthcare (HCA) is the leading for-profit hospital operator and outpatient services provider in the U.S. In our December 2024 Quarterly Report we outlined our thoughts on why we considered the 25% fall in the share price due to healthcare policy concerns was excessive... Over the first... | BULL | View Pitch → |
| Jan 8, 2026 | Fund Letter | Scott KlarquistSeven Corners Capital Management, LLC | Maplebear Inc. (Instacart) $CART• NASDAQ | Broadline RetailBroadline Retail | Seven Corners Capital 2025 Q2 (CART) Instacart has continued to compound value following its strong post-pandemic performance, with shares up 76% in 2024 and an additional 10% in the first half of 2025. Q1 2025 results... | BULL | View Pitch → |
| Dec 4, 2025 | Fund Letter | Christian RytherCurreen Capital | Consumer FinanceConsumer Finance | Curreen Capital 2025 Q2 (CACC) Credit Acceptance is a subprime auto lender, enabling subprime borrowers to buy vehicles from used car dealerships. The business has... | BULL | View Pitch → | |
| Dec 4, 2025 | Fund Letter | James Cullen | PACCAR Inc $PCAR• NASDAQ | MachineryMachinery | Cullen Enhanced Equity Income Fund 2025 Q2 (PCAR) Paccar (PCAR) – The stock was purchased in the strategy in the quarter. Paccar is a... | BULL | View Pitch → |
| Dec 3, 2025 | Fund Letter | H. George Dai, Joshua D. BennettAlger Weatherbie Specialized Growth Fund | ACADIA Pharmaceuticals Inc. $ACAD• NASDAQ | BiotechnologyBiotechnology | Alger Weatherbie Specialized Growth Fund 2025 Q2 (ACAD) Acadia is a biopharmaceutical company that focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system (CNS) disorders. Its products include... | BULL | View Pitch → |
| Nov 29, 2025 | Substack | Aaron M. EdelheitMindset Value Fund | Cantrip Beverages $PRIVATE-CAN• NASDAQ | -- | Mindset Value Fund 2025 Q3 (CAN) Cantrip raised new capital at approximately three times the valuation of the fund's January 2024 investment, reflecting rapid growth and strong market traction. The company's management... | BULL | View Pitch → |
| Nov 29, 2025 | Fund Letter | Achilleas TaxildarisThe Bristol Gate U.S. Equity Strategy | Carrier Global Corp. $CARR• NASDAQ | Building ProductsBuilding Products | The Bristol Gate U.S. Equity Strategy 2025 Q3 (CARR) Carrier's shares declined despite meeting earnings expectations, as investors focused on weakness in U.S. residential HVAC orders and unfavorable product mix. CEO David Gitlin... | BULL | View Pitch → |
| Nov 28, 2025 | Fund Letter | Brandon BeyloMacro ops | Canaan Inc. $CAN• NYSE | Technology Hardware, Storage & PeripheralsTechnology Hardware, Storage & Peripherals | Macro Ops 2025 Q3 (CAN) Canaan is a technology company specializing in high-performance computing chips and systems for Bitcoin mining. The stock exhibits... | BULL | View Pitch → |
| Nov 28, 2025 | Fund Letter | Damian Bird | -- | Long SSE-CATL (Contemporary Amperex Technology Co. Ltd.) CATL, the world's largest EV battery producer, reported over 30% quarterly profit growth driven by strong demand for its Shenxing Superfast Charging and Qilin battery models. These products now... | 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.