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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 2, 2026 | Fund Letter | Steve JohnsonForager Australian Shares Fund | Leisure FacilitiesHotels, Restaurants & Leisure | Forager Australian Shares Fund - EXP.AX Another frustrating investment this year has been skydive and adventure experience operator Experience Co. The company's skydive business in Australia has been hurt by weak international volumes, cost-of-living pressures for domestic jumpers, and industrial action during peak trading periods. Management is now... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Matthew BerryAoris International Fund | -- | Aoris International Fund - EXPGY Experian is the world's largest credit bureau, collecting and aggregating information on more than 1.5 billion consumers and 300 million businesses. AI is increasing... | NEUTRAL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Faraz Farzam, Aaron GarciaMadison Small Cap Fund | Eagle Materials $EXP• NYSE | Construction MaterialsConstruction Materials | Long EXP (Eagle Materials Inc.) Initiated position. A leading U.S.... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Conestoga Capital Advisors, LLCConestoga Mid Cap Composite | Exponent Inc. $EXPO• NASDAQ | Construction & EngineeringConstruction & Engineering | Long EXPO (Exponent, Inc.) Exponent's stock declined as current growth remains below its target due to hiring lags, despite beating first-quarter expectations. The manager remains... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Christina Siegel MalbonPatient Capital Management | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Long EXPE (Expedia Group) Expedia Group experienced a sharp upward re-rating in Q4 after lagging for most of the year despite strong underlying business fundamentals. The fund successfully... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Christina Siegel MalbonPatient Capital Management | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Long EXPE (Expedia Group) Bought in mid-2022 due to strong fundamentals and mispriced competitive fears, the stock initially languished before surging on strong third-quarter direct-to-consumer acceleration. The manager emphasizes... | BULL | View Pitch → | |
| Jan 20, 2026 | Fund Letter | Sebastian Lyon & Charlotte YongeTroy Multi-Asset Strategy | Professional ServicesProfessional Services | Long EXPN.L (Experian) Experian's shares were -1% in 2025 and LSEG's were -20%. They are therefore... | BULL | View Pitch → | |
| Jan 8, 2026 | Fund Letter | David SteinthalL1 Capital International Fund | Eagle Materials $EXP• NYSE | Construction MaterialsConstruction Materials | L1 Capital International Fund 2025 Q2 (EXP) There were no company-specific issues associated with Eagle Materials, but rather the company's share price was impacted by sector concerns regarding a broad softening in U.S. new residential construction conditions. Eagle Materials has... | BULL | View Pitch → |
| Dec 3, 2025 | Fund Letter | Mr. FitzpatrickAristotle Core Equity Fund | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Aristotle Core Equity Fund 2025 Q2 (EXPE) We sold Expedia Group due to a higher risk of a recession following the significant increase in global tariffs, which can be expected to reduce overall levels of economic activity. In addition, the... | BULL | View Pitch → | |
| Dec 3, 2025 | Fund Letter | Mr. FitzpatrickAristotle Atlantic Core Equity Strategy | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Aristotle Atlantic Core Equity Strategy 2025 Q2 (EXPE) We sold Expedia Group due to a higher risk of a recession following the significant increase in global tariffs, which can be expected to reduce overall levels of economic activity. In addition, the... | BULL | View Pitch → | |
| Nov 28, 2025 | Fund Letter | Faraz Farzam, Aaron GarciaMadison Small Cap Fund | Eagle Materials $EXP• NYSE | Construction MaterialsConstruction Materials | Madison Small Cap Fund 2025 Q3 (EXP) Small cap initiated on Eagle Materials, a leading U.S. manufacturer of heavy construction materials such as Portland cement, concrete, and aggregates, and light building materials such as wallboard and recycled paperboard. We view Eagle... | 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.