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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 | 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 | Ken Korngiebel, Thomas Bradley, Natalie PesquéWasatch Micro Cap Fund | Kura Sushi USA, Inc. $KRUS• NASDAQ | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Wasatch Micro Cap Fund - KRUS Kura Sushi USA, Inc., Class A (KRUS) is a sushi restaurant chain that utilizes conveyor belts and robots to deliver food to its customers. The company's business... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Yoav ZelikovicZelikovic Investments | Investment Banking & BrokerageCapital Markets | Zelikovic Investments - IBKR Interactive Brokers (IBKR). In his book,... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Yoav ZelikovicZelikovic Investments | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | Zelikovic Investments - KKR We also increased our position in the giant American-global asset management company Kohlberg, Kravis, Roberts (KKR & Co.), which currently manages ~$640B (reflecting an annual growth rate of 18% since its IPO in 2010). Concurrently, the company's... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Matt GeigerMJG Capital Fund | Koryx Copper $KRY.V• TSX | Diversified Metals & MiningMetals & Mining | MJG Capital Fund - KRY.V Koryx Copper was the Featured Investment in the January 2025 MJG partnership letter. The position was... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Marc WerresHinde Group | Investment Banking & BrokerageCapital Markets | Hinde Group - IBKR Our positions in Interactive Brokers Group, Inc. class A common stock (NASDAQ: IBKR), Northeast Bank voting common stock (NASDAQ: NBN), Amazon.com, Inc. common stock (NASDAQ: AMZN) and Alphabet Inc. class C capital stock (NASDAQ: GOOG) drove the portfolio's gain during the quarter. Those stocks gained... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Jeff AuxierAuxier Asset Management | Consumer Staples Merchandise RetailConsumer Staples Merchandise Retail | Auxier Asset Management - KR Elevated inflation, high interest rates and rising gas prices contributed to lower consumer spending, impacting companies like Kroger and PepsiCo. Although Kroger's stock... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | David Baron, Ron BaronBaron Focused Growth Fund | Investment Banking & BrokerageCapital Markets | Baron Focused Growth Fund - IBKR Global electronic brokerage firm Interactive Brokers Group, Inc. contributed to performance as the company continued to compound growth at a rare pace for its scale. Client accounts increased... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Old West Investment Management, LLC | Bruker Biosciences Corp. $BRKR• NASDAQ | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Old West Investment Management - BRKR Bruker makes high-end scientific instruments that let scientists study life and materials at the molecular level. Its products include... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Josh SaltmanBaron FinTech Fund | Investment Banking & BrokerageCapital Markets | Baron FinTech Fund - IBKR Global electronic brokerage firm Interactive Brokers Group, Inc. contributed to performance due to continued strong growth and profitability. Client accounts increased... | NEUTRAL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | LVS Advisory Defensive | Investment Banking & BrokerageCapital Markets | Long IBKR (Interactive Brokers) LVS increased its holding in Interactive Brokers to its maximum 10% cost limit, citing an attractive goldilocks environment of high interest rates and rising stock prices. The manager believes... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Micro Cap Fund Commentary 2 | Kura Sushi USA, Inc. $KRUS• NASDAQ | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Long KRUS (Kura Sushi USA, Inc., Class A) Kura Sushi fell short on same-store sales due to broader consumer spending pressures and experienced a leadership transition with its CFO's retirement. However, the manager... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | LVS Advisory Defensive | Investment Banking & BrokerageCapital Markets | Long IBKR (Interactive Brokers Group, Inc.) Interactive Brokers is the fund's largest holding and benefits from a superior model that shares higher interest rate upside with customers via competitive rates on cash. Because of its... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Adam Calamar, Kurt Havnaer, Tyra PrattJensen Investment | Consumer Staples Merchandise RetailConsumer Staples Merchandise Retail | Jensen Investment - KR The third largest individual detractor from performance during the quarter was Kroger Co (KR), one of the largest supermarket operators in the U.S. KR operates approximately 2,700 store | BEAR | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Brian McMahonThornburg Global Opportunities Fund | -- | Thornburg Global Opportunities Fund - BKRIY Bank of Ireland is the tenth largest holding. Diversified financial services... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Shreekkanth "Shree" ViswanathanSVN Capital Fund | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | SVN Capital Fund - KKR KKR is one of the world's largest alternative asset managers, operates three businesses under one roof, and the corner of it the market suddenly feared is a fraction of the whole. | NEUTRAL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Freddie LaitLatitude Global Fund | Consumer Staples Merchandise RetailConsumer Staples Merchandise Retail | Long KR (Kroger) Over the past fifteen years the company has delivered 12% annualised earnings per share growth while paying a dividend of 2% per year. | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Investment Banking & BrokerageCapital Markets | Short IBKR (Interactive Brokers) Interactive Brokers is a high-quality global brokerage boasting robust account growth and excellent operating margins. However, because its... | BEAR | View Pitch → | ||
| Aug 21, 2026 | Fund Letter | ArrowMark PartnersMeridian Contrarian Fund | Kornit Digital Ltd. $KRNT• NASDAQ | MachineryMachinery | Long KRNT (Kornit Digital Ltd.) Kornit Digital offers efficient digital printing solutions for textiles and was acquired during a deep valuation trough. Although short-term order... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | John HemptonBronte Capital Amalthea Fund | Karuna Therapeutics, Inc. $KRTX• NASDAQ | -- | Short KRTX (Karuna Therapeutics, Inc.) The fund maintained a short position in Karuna Therapeutics based on skepticism over Phase 3 clinical trial design for its schizophrenia drug KarXT. The short generated... | BEAR | View Pitch → |
| Aug 21, 2026 | Fund Letter | Shilpa MehraFidelity Growth Strategies Fund | Karman Holdings, Inc. $KRMN• NASDAQ | Aerospace & DefenseAerospace & Defense | Long KRMN (Karman Holdings, Inc.) Conversely, an overweight in Karman Holdings (-37%), an aerospace and defense technology company that specializes in systems for rockets, missile defense, launch vehicles and spacecraft | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Shreekkanth "Shree" ViswanathanSVN Capital Fund | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | Long KKR (KKR & Co. Inc.) Over the prior two years, KKR was one of the Fund's strongest contributors, as the market began to recognize the earnings power of its asset-management and insurance platforms. | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Aaron J. SaundersComus Investment | Investment Banking & BrokerageCapital Markets | Long IBKR (Interactive Brokers Group, Inc.) We had a good year in 2025, however we were severely hamstrung by InteractiveBrokers' move to limit Americans from buying small Hong Kong equities. | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Timothy F. HarrisBBH Select Series - Mid Cap Fund | Bruker Biosciences Corp. $BRKR• NASDAQ | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Long BRKR (Bruker Corp.) This scientific instruments provider is navigating temporary headwinds from delayed Chinese stimulus, a slow biopharma recovery, and potential academic funding cuts. However, its broad... | BULL | View Pitch → |
| Aug 10, 2026 | Substack | shareholdersuniteSubstack (shareholdersunite) | Koru Medical Systems, Inc. $KRMD• NASDAQ | Health Care SuppliesHealth Care Equipment & Supplies | Weekly Update 34KORU Medical – KRMD KORU Medical's Freedom syringe system provides significant benefits for patients requiring Ig therapies, offering independence and cost savings. Despite setbac... | BULL | View Pitch → |
| Aug 8, 2026 | Fund Letter | Shilpa MehraFidelity Growth Strategies Fund | Karman Holdings, Inc. $KRMN• NASDAQ | Aerospace & DefenseAerospace & Defense | Fidelity Growth Strategies Fund – KRMN Conversely, an overweight in Karman Holdings (-37%), an aerospace and defense technology company that specializes in systems for rockets, missile defense, launch veh... | BULL | View Pitch → |
| Aug 5, 2026 | Fund Letter | Adam Calamar, Kurt Havnaer, Tyra PrattJensen Investment | Consumer Staples Merchandise RetailConsumer Staples Merchandise Retail | Jensen Investment – KR The third largest individual detractor from performance during the quarter was Kroger Co (KR), one of the largest supermarket operators in the U.S. KR operates appro... | BULL | View Pitch → | |
| Aug 1, 2026 | Seeking Alpha | Seeking Alpha ContributorSeeking Alpha | KITE RLTY GROUP TR $KRG• NYSE | -- | Kite Realty Group Trust Kite Realty Group Trust has shown resilience with a 67.6% return since May 2021, closely tracking the S&P 500. Despite revenue falling... | NEUTRAL | View Pitch → |
| Feb 27, 2026 | Fund Letter | Michael W. CookSouthernSun SMID Cap | The Timken Company $TKR• NYSE | MachineryMachinery | SouthernSun SMID Cap 2025 Q4 (TKR) Timken Company (TKR) We exited our position in TKR after a long and successful investment in favor of more attractive opportunities. Despite still believing... | BEAR | View Pitch → |
| Feb 27, 2026 | Fund Letter | Michael W. CookSouthernSun Small Cap | The Timken Company $TKR• NYSE | MachineryMachinery | SouthernSun Small Cap 2025 Q4 (TKR) Timken Company (TKR) After a long and successful investment in TKR, we decided to exit our position in favor of more attractive opportunities. Despite still believing... | BEAR | View Pitch → |
| Feb 25, 2026 | Fund Letter | Marc WerresHinde Group | Investment Banking & BrokerageCapital Markets | Hinde Group 2025 Q4 (IBKR) This quarter's portfolio update covers our position in Interactive Brokers Group, Inc. class A common stock (NASDAQ: IBKR). IBKR was the... | BULL | View Pitch → | |
| Feb 20, 2026 | Fund Letter | Andrew MackenMontaka Global Investments | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | Montaka Global Investments 2025 Q4 (KKR) The world's leading alternative asset managers, such as Blackstone and KKR, also declined in 2025 – likely driven by a myriad of negative headlines around private credit. In November, KKR... | BULL | View Pitch → |
| Feb 20, 2026 | Fund Letter | GregAGT Partners | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | AGT Partners 2025 Q3 (KKR) ) seeking exposure to alternative assets. ), creating a... | BULL | View Pitch → |
| Feb 20, 2026 | Fund Letter | GregAGT Partners | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | AGT Partners 2025 Q4 (KKR) KKR was down -13.3% in 2025 after starting the year at elevated valuations (25x PE). Industry concerns around... | BULL | View Pitch → |
| Jan 27, 2026 | Fund Letter | Jeff John, Ryan CopeAmerican Century Small Cap Value Fund | Amkor Technologies $AMKR• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | American Century Small Cap Value Fund 2025 Q4 (AMKR) Amkor Technology. This provider of... | BULL | View Pitch → |
| Jan 27, 2026 | Fund Letter | Shreekkanth "Shree" ViswanathanSVN Capital Fund | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | SVN Capital Fund 2025 Q4 (KKR) Over the prior two years, KKR was one of the Fund's strongest contributors, as the market began to recognize the earnings power of its asset-management and insurance platforms. In 2025, the... | BULL | View Pitch → |
| Jan 24, 2026 | Fund Letter | Josef Lakonishok, Menno Vermeulen, Puneet Mansharamani, Greg Sleight, Guy Lakonishok, Gal SkarishevskyHarbor Mid Cap Value Fund | Amkor Technologies $AMKR• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Harbor Mid Cap Value Fund 2025 Q4 (AMKR) We trimmed our position in Amkor Technology in the Information Technology sector. Amkor has done... | BULL | View Pitch → |
| Jan 24, 2026 | Fund Letter | Sonu Chawla | Karman Holdings, Inc. $KRMN• NASDAQ | Aerospace & DefenseAerospace & Defense | TimesSquare Capital Management U.S. FOCUS Growth Equity strategy 2025 Q4 (KRMN) During the quarter we initiated a position in Karman Holdings, a missile systems design and manufacturing specialist. Despite good third... | BULL | View Pitch → |
| Jan 24, 2026 | Fund Letter | Sonu Chawla | Investment Banking & BrokerageCapital Markets | TimesSquare Capital Management U.S. FOCUS Growth Equity strategy 2025 Q4 (IBKR) Interactive Brokers Group Inc. offers custody and account services for hedge funds, mutual funds, exchange-traded funds, registered investment advisers, and individual investors. Third-quarter earnings surpassed... | BULL | View Pitch → | |
| Jan 23, 2026 | Fund Letter | Achilleas TaxildarisThe Bristol Gate U.S. Equity Strategy | Investment Banking & BrokerageCapital Markets | The Bristol Gate U.S. Equity Strategy 2025 Q4 (IBKR) Late in the quarter we bought Interactive Brokers (IBKR). Interactive Brokers is... | BULL | View Pitch → | |
| Jan 20, 2026 | Fund Letter | Derek JohnstonConestoga SMid Cap Composite | Karman Holdings, Inc. $KRMN• NASDAQ | Aerospace & DefenseAerospace & Defense | Conestoga SMid Cap Composite 2025 Q4 (KRMN) KRMN is a defense technology company specializing in highly engineered, mission-critical systems across space, missile, hypersonic, and defense programs. The company generates... | BULL | View Pitch → |
| Jan 20, 2026 | Fund Letter | Joe MonahanConestoga Small Cap Composite | Karman Holdings, Inc. $KRMN• NASDAQ | Aerospace & DefenseAerospace & Defense | Conestoga Small Cap Composite 2025 Q4 (KRMN) Karman Holdings, Inc. (KRMN) is a defense technology company generating mid-teens organic revenue growth complemented by tuck-in M&A. Over 90% of... | BULL | View Pitch → |
| Jan 20, 2026 | Fund Letter | Aaron J. SaundersComus Investment | Investment Banking & BrokerageCapital Markets | Comus Investment 2025 Q4 (IBKR) We had a good year in 2025, however we were severely hamstrung by InteractiveBrokers' move to limit Americans from buying small Hong Kong equities. As a result,... | BULL | View Pitch → | |
| Jan 8, 2026 | Fund Letter | Laurenz NienaberLMN Capital | Investment Banking & BrokerageCapital Markets | LMN Capital 2025 Q2 (IBKR) Interactive Brokers is a classic compounder that benefits from higher interest rates and market volatility. The company reported... | BULL | View Pitch → | |
| Jan 8, 2026 | Fund Letter | TimesSquare Capital Management, LLCTimesSquare Capital Management U.S. Small Cap Growth Strategy | Krystal Biotech Inc. $KRYS• NASDAQ | BiotechnologyBiotechnology | TimesSquare Capital Management U.S. Small Cap Growth Strategy 2025 Q2 (KRYS) Krystal Biotech Inc. is a biotechnology company developing and commercializing genetic medicines for patients with rare diseases. First quarter results... | BULL | View Pitch → |
| Jan 8, 2026 | Fund Letter | Justin Bergner, CFAThe Gabelli Dividend Growth Fund | Consumer Staples Merchandise RetailConsumer Staples Merchandise Retail | The Gabelli Dividend Growth Fund 2025 Q2 (KR) Kroger Co. (3.2% of net assets as of June 30, 2025) (KR – $71.73 – NYSE) based in Cincinnati, Ohio, is the largest traditional supermarket retailer in the U.S. Through their more than 2,700 stores and digital platforms, Kroger serves approximately 11 million customers daily. It generates revenue... | BULL | View Pitch → | |
| Jan 8, 2026 | Fund Letter | Shreekkanth "Shree" ViswanathanSVN Capital Fund | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | SVN Capital Fund 2025 Q2 (KKR) At KKR ($664 billion in AUM; dry powder of $116 billion), capital raised ($114 billion in the last 12 months) and capital deployed ($101 billion) have remained healthy, while realizations were slightly lower. As the tariff... | BULL | View Pitch → |
| Jan 7, 2026 | Fund Letter | Alex UmanskyBaron Fifth Avenue Growth Fund | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | Baron Fifth Avenue Growth Fund 2025 Q3 (KKR) We increased the size of our position in KKR & Co. Inc., as we took advantage of price volatility towards the end of the quarter. KKR is a... | BULL | View Pitch → |
| Dec 6, 2025 | Fund Letter | KKR & Co. Inc. $KKR• NYSE | Investment Banking & BrokerageCapital Markets | Greenhaven Road Capital 2025 Q2 (KKR) KKR shares were down more than 8% in the first half of the year. Investor pessimism stemmed... | BULL | View Pitch → | |
| Dec 4, 2025 | Fund Letter | Eric Mintz, Christopher Sassouni, David CavanaughCarillon Eagle Mid Cap Growth Fund | Baker Hughes $BKR• NYSE | Energy Equipment & ServicesEnergy Equipment & Services | Carillon Eagle Mid Cap Growth Fund 2025 Q2 (BKR) Baker Hughes is a diversified energy technology and equipment company. Shares declined on... | 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.