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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 International Shares Fund | Fiserv, Inc. $FISV• NASDAQ | -- | Forager International Shares Fund - FISV Fiserv (NASDAQ:FISV) was the single largest detractor this year, costing the Fund 3.9%. A loss of... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Steve JohnsonForager International Shares Fund | Construction & EngineeringConstruction & Engineering | Forager International Shares Fund - FIX Comfort Systems appeared in last year's report as a fresh buy out of the April 2025 selloff, and it continued to deliver handsomely this year before we moved on, contributing 1.7% to returns. This mechanical, electrical... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Chip ReweyRewey Asset Management | Orthofix Medical Inc. $OFIX• NASDAQ | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Rewey Asset Management - OFIX OFIX was our weakest performer in 1Q26, as the stock declined following its May 21st announcement that CMS had lowered its reimbursement for non-invasive bone growth stimulator devices. Due to the... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Matt Kamm, Jason White, Jim Hamel, Angela Wu, Jay WarnerArtisan Mid Cap Fund | Construction & EngineeringConstruction & Engineering | Artisan Mid Cap Fund - FIX Comfort Systems is a provider of heating, ventilation and air conditioning services. Strong demand from... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Mairs & Power, Inc.Mairs & Power - Balanced Fund | Fiserv, Inc. $FISV• NASDAQ | -- | Mairs & Power - Balanced Fund - FISV Fiserv (FISV) weighed on relative performance. The company is... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Zack BuckleyBuckley Capital | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Buckley Capital - BFIT.AS We wrote about Basic-Fit in July 2025, when the market was penalizing the company for one-time expenses relating to the conversion of its gyms in France to staffless and 24/7 operations. The stock is... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Alan BreedEdgewood Management | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Edgewood Management - FICO Fair Isaac showed 60% year-over-year EPS growth in the most recent quarter. Portfolio weighting is... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Hrishikesh GuptaSGA - Emerging Markets Growth | Consumer FinanceConsumer Finance | SGA Emerging Markets Growth - BAJFINANCE.NS Bajaj Finance, the largest non-banking finance company in India, was a top contributor to performance during the quarter. The company reported... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | David Baron, Ron BaronBaron Focused Growth Fund | FIGS, Inc. $FIGS• NASDAQ | Textiles, Apparel & Luxury GoodsTextiles, Apparel & Luxury Goods | Baron Focused Growth Fund - FIGS FIGS, Inc. designs and sells scrubwear for health care professionals through a digitally native, direct-to-consumer strategy. The stock detracted... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Neal RosenbergBaron Growth Fund | FIGS, Inc. $FIGS• NASDAQ | Textiles, Apparel & Luxury GoodsTextiles, Apparel & Luxury Goods | Baron Growth Fund - FIGS FIGS, Inc. designs and sells scrubwear for health care professionals through a digitally native, direct-to-consumer strategy. The stock detracted... | NEUTRAL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Alan BreedEdgewood Management | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Long FICO (Fair Isaac Corp.) As the primary industry standard in consumer credit scoring, the company holds an incredibly durable market position. Recent regulatory headline... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Jeffrey G. CherkinTourlite Capital Management | Industrial ConglomeratesIndustrial Conglomerates | Long FIP (FTAI Infrastructure Inc.) We continue to believe FIP's share price remains significantly below the intrinsic value of its underlying assets. | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | C.T. FitzpatrickVulcan Value Partners - Large Cap | -- | Long FI (Fiserv Inc.) Fiserv is a global payments and financial services provider with three essential business segments. Its products benefit... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Spyglass Capital | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Long FICO (Fair Isaac Corporation) The fund re-established its position in FICO as transitory regulatory uncertainties faded and the firm introduced a highly lucrative direct licensing model. This model bypasses... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | David BastianKingdom Capital Advisors | United Natural Foods $UNFI• NASDAQ | Consumer Staples Merchandise RetailConsumer Staples Merchandise Retail | Long UNFI (United Natural Foods, Inc.) United Natural Foods provides counter-cyclical value as consumers shift from restaurants to grocery stores. Its underlying volume... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Ganes Capital Management LimitedGanes Focused Value Fund | Asset Management & Custody BanksCapital Markets | Long FID.AX (Fiducian Group Limited) Fiducian Group is a capital-light financial services firm with high return on equity, zero debt, and a strong cash position. The manager increased... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | David M. PoppeGiverny Capital Asset Management | Five Below $FIVE• NASDAQ | Other Specialty RetailSpecialty Retail | Short FIVE (Five Below, Inc.) Five Below declined 49% in the first half due to weakness among lower-income consumers, elevated shoplifting, margin compression, and the sudden departure of its CEO. Despite historical sales... | BEAR | View Pitch → |
| Aug 21, 2026 | Fund Letter | Dominick D'AngeloO'Keefe Stevens Advisory, Inc | Donnelley Financial $DFIN• NASDAQ | Application SoftwareSoftware | Short DFIN (Donnelley Financial Solutions, Inc.) The manager decided to exit DFIN after data analysis revealed a structural market share loss to competitor Workiva. The analysis showed... | BEAR | View Pitch → |
| Aug 21, 2026 | Fund Letter | Neil J. HennessyHennessy Balanced Fund | Fiserv, Inc. $FISV• NASDAQ | -- | Short FISV (Fiserv, Inc.) Fiserv detracted from relative performance as it undergoes a corporate turnaround focused on improving client satisfaction and product development. An unexpected CEO... | BEAR | View Pitch → |
| Aug 21, 2026 | Fund Letter | George L. Smith III, Jeffrey Omohundro, Christopher G. PearsonThe Davenport Core Leaders Fund | SoFi Technologies, Inc. $SOFI• NASDAQ | Consumer FinanceConsumer Finance | Long SOFI (SoFi Technologies, Inc.) The manager believes the market misvalues the company as a traditional consumer lender rather than a high-growth financial platform. With valuation near... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Michael A. Sansoterra, Sandeep Bhatia, Sowmdeb SenVirtus Silvant Mid-Cap Growth Fund | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Long FICO (Fair Isaac Corp.) Although Fair Isaac's stock faced pressure due to political scrutiny over its pricing power and monopoly status, its underlying financial metrics remain robust. The manager took... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Joost van der MandeleVan Der Mandele Arar Fund | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Long BFIT.AS (Basic-Fit) Basic-Fit experienced a post-earnings decline that the manager views as unjustified, caused primarily by large institutional sellers. Although margins have... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Joost van der MandeleVan Der Mandele Arar Fund | Jiayin Group $JFIN• NASDAQ | Consumer FinanceConsumer Finance | Long JFIN (Jiayin Group) The manager highlights Jiayin Group's explosive financial growth, with revenues up 38% year-over-year and operating profits set to grow by 87%. Despite a recent... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Shreekkanth "Shree" ViswanathanSVN Capital Fund | Consumer FinanceConsumer Finance | SVN Capital Fund - BAJFINANCE.NS Bajaj Finance is India's largest non-bank lender, serving over 119 million customers. It is a... | NEUTRAL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Daniel B. SmoakSmoak Capital Management | Commercial Services & SuppliesCommercial Services & Supplies | Long FILA.MI (F.I.L.A. S.p.a.) FILA owns leading art supply and stationery brands like Dixon Ticonderoga and Canson, generating stable operating cash flows. Following the IPO... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Aaron MonroeDiamond Hill Small Cap Fund | First Interstate BancSystem $FIBK• NASDAQ | BanksBanks | Long FIBK (First Interstate BancSystem, Inc.) First Interstate BancSystem's stock price suffered due to sector-wide regional banking contagion. The manager's reevaluation... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Warren FisherManole Capital Management | -- | Long FI (Fiserv, Inc.) Fiserv's extensive payment processing network recorded solid transaction and retail sales growth over the holiday shopping period. The data shows... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | David BastianKingdom Capital Advisors | United Natural Foods $UNFI• NASDAQ | Consumer Staples Merchandise RetailConsumer Staples Merchandise Retail | Long UNFI (United Natural Foods) The company's turnaround is validated by strong cash flow improvement in the first fiscal quarter. The manager expects... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Christopher R. PaveseBroyhill Asset Management | Fiserv, Inc. $FISV• NASDAQ | -- | Long FISV (Fiserv, Inc.) Fiserv was our biggest detractor from performance on the year. | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | The Bristol Gate Canadian Equity | Cargo Ground TransportationGround Transportation | Short TFII.TO (TFI International) TFI International contributed positively after reporting Q4 2025 earnings per share of CAD 1.50 vs. analyst expectations of CAD 1.17 — a 27% beat that drove meaningful positive stock reaction. | BEAR | View Pitch → | |
| Aug 19, 2026 | Substack | dbsilverfoxSubstack (dbsilverfox) | Health Care SuppliesHealth Care Equipment & Supplies | Portfolio update as of 11.08.2026Fielmann Group – FIE.DE Fielmann Group is in a growth phase, expanding its store network and entering the US market through strategic acquisitions. The company's focus... | BULL | View Pitch → | |
| Aug 3, 2026 | Seeking Alpha | Seeking Alpha ContributorSeeking Alpha | Application SoftwareSoftware | Figma, Inc. Figma, Inc. has experienced significant growth since its IPO, with revenues increasing from $749 million in 2024 to $1.05 billion in 2025. Despite this, the... | NEUTRAL | View Pitch → | |
| Aug 3, 2026 | Seeking Alpha | Seeking Alpha ContributorSeeking Alpha | SoFi Technologies, Inc. $SOFI• NASDAQ | Consumer FinanceConsumer Finance | SoFi Technologies, Inc. SoFi Technologies, Inc. is experiencing significant growth, with Q2 2026 results showing a 41% year-over-year revenue increase and record loan originations. Despite ... | BULL | View Pitch → |
| Feb 25, 2026 | Fund Letter | Alan BreedEdgewood Management | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Edgewood Management 2025 Q2 (FICO) FICO is the leading provider of consumer credit analytics and scoring algorithms: Best known for the “FICO Score”—a three-digit metric used in 90%+ of consumer credit decisions across the U.S. (including mortgage, auto, credit card, and personal loans). FICO generates revenue... | BULL | View Pitch → |
| Feb 25, 2026 | Fund Letter | Alan BreedEdgewood Management | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Edgewood Management 2025 Q3 (FICO) Leading provider of consumer credit analytics and scoring algorithms that is best known for the “FICO Score”—a three-digit metric used in a variety of consumer credit decisions. Thesis: FICO is... | BULL | View Pitch → |
| Feb 20, 2026 | Fund Letter | Christopher R. PaveseBroyhill Asset Management | Fiserv, Inc. $FISV• NASDAQ | -- | Broyhill Asset Management 2025 Q4 (FISV) Fiserv was our biggest detractor from performance on the year. This was a... | BULL | View Pitch → |
| Feb 20, 2026 | Fund Letter | Josh SaltmanBaron FinTech Fund | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Baron FinTech Fund 2025 Q4 (FICO) Fair Isaac Corporation (FICO), a data and analytics company focused on predicting consumer behavior, contributed to performance. FICO reported strong... | BULL | View Pitch → |
| Feb 3, 2026 | Fund Letter | Matrix Asset Advisors, Inc.Matrix Dividend Income | Fiserv, Inc. $FISV• NASDAQ | -- | Matrix Dividend Income 2025 Q4 (FISV) On the sell side, we exited our position in Fiserv following a surprising earning miss and sharply reduced earnings guidance from the company's new CEO on the third quarter call. The new CEO,... | BULL | View Pitch → |
| Feb 3, 2026 | Fund Letter | David Baron, Ron BaronBaron Focused Growth Fund | FIGS, Inc. $FIGS• NASDAQ | Textiles, Apparel & Luxury GoodsTextiles, Apparel & Luxury Goods | Baron Focused Growth Fund 2025 Q4 (FIGS) Shares of FIGS increased 69.8% in the fourth quarter and added 161 bps to performance. The company continues... | BULL | View Pitch → |
| Jan 29, 2026 | Fund Letter | David M. PoppeGiverny Capital Asset Management | Fiserv, Inc. $FISV• NASDAQ | -- | Giverny Capital Asset Management 2025 Q4 (FISV) Fiserv is a mission-critical payments and fintech infrastructure provider with deep integration across financial institutions and merchants. While organic growth... | BULL | View Pitch → |
| Jan 28, 2026 | Fund Letter | Brown Advisory LLCBrown Advisory Large-Cap Growth Strategy | Fair Isaac Corporation $FICO• NASDAQ | Application SoftwareSoftware | Brown Advisory Large-Cap Growth Strategy 2025 Q4 (FICO) Fair Isaac rebounded early in the quarter as clarity emerged around competitive risks in mortgage scoring. A softened regulatory... | BULL | View Pitch → |
| Jan 27, 2026 | Fund Letter | Michael P. McCloskeyGreensKeeper Value Fund | Fiserv, Inc. $FISV• NASDAQ | -- | GreensKeeper Value Fund 2025 Q4 (FISV) Our worst performer by far in 2025 was Fiserv Inc., which declined 67.3%. New management revealed... | BEAR | View Pitch → |
| Jan 27, 2026 | Fund Letter | Brian CampbellThe London Company Large Cap | -- | The London Company Large Cap 2025 Q4 (FI) Fiserv, Inc. (FI) – FI weakness came after ongoing concerns about a slowdown in its small business POS platform on top of weak 3Q results. The company took... | BEAR | View Pitch → | |
| Jan 27, 2026 | Fund Letter | -- | Clark Street Value 2025 Q4 (FI) Fiserv (FI) ($35.4B market cap, $65.7B enterprise value) is a large legacy merchant acceptance business (the old First Data) paired with a decent but no-growth core account software provider to small and medium sized community banks. These types of... | BULL | View Pitch → | ||
| Jan 23, 2026 | Fund Letter | Joe Maginot, Haruki Toyama, Rich EisingerMadison Large Cap Fund | Fiserv, Inc. $FISV• NASDAQ | -- | Madison Large Cap Fund 2025 Q4 (FISV) Fiserv reported disappointing results with revenue declining in its Financial Solutions segment. Furthermore, new management... | BULL | View Pitch → |
| Jan 23, 2026 | Fund Letter | Sam Peters, Reed Cassady, Jean YuClearBridge Investment Value Strategy | Fitlife Brands Inc. $FITB• NASDAQ | BanksBanks | ClearBridge Investment Value Strategy 2025 Q4 (FITB) In the fourth quarter, we made several changes within our financials holdings. For example, we... | BULL | View Pitch → |
| Jan 20, 2026 | Fund Letter | Sebastian Lyon & Charlotte YongeTroy Multi-Asset Strategy | Fiserv, Inc. $FISV• NASDAQ | -- | Troy Multi-Asset Strategy 2025 Q4 (FISV) The greatest mistake is clearly Fiserv. Over more than... | BULL | View Pitch → |
| Jan 20, 2026 | Fund Letter | Chip ReweyRewey Asset Management | Donnelley Financial $DFIN• NASDAQ | Application SoftwareSoftware | Rewey Asset Management 2025 Q4 (DFIN) We initiated a position in Donnelley Financial Solutions (DFIN), a provider of capital markets and compliance-related technology solutions. The company is... | BULL | View Pitch → |
| Jan 20, 2026 | Fund Letter | David HoeftDodge & Cox Stock Fund | Fiserv, Inc. $FISV• NASDAQ | -- | Dodge & Cox Stock Fund 2025 Q4 (FISV) Consistent with our contrarian approach, we added to the Fund's position in Fiserv, a global leader in payments and financial technology solutions. Over the course... | BULL | View Pitch → |
| Jan 20, 2026 | Fund Letter | Ariel Investments, LLCAriel Focus Fund | Fiserv, Inc. $FISV• NASDAQ | -- | Ariel Focus Fund 2025 Q4 (FISV) Fiserv, Inc. (FISV), a global leader in payment processing and financial technology, also experienced a pullback during the period, as new CEO Mike Lyons reset growth and profitability expectations, while announcing further leadership changes. Management is actively... | 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.