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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 | Joe BauernfreundAVI Global Trust | Investment Banking & BrokerageCapital Markets | AVI Global Trust - CHRY.L Chrysalis was our second largest detractor in the first half of this financial year. While this was... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | John FoxFenimore Value Strategy | InsuranceInsurance | Fenimore Value Strategy - RYAN We continued to build our position in Ryan Specialty Holdings (RYAN). The insurance industry... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | John FoxFenimore Small Cap Strategy | InsuranceInsurance | Fenimore Small Cap Strategy - RYAN We initiated a position in Ryan Specialty Holdings (RYAN), which we had previously owned after its initial public offering. The insurance industry... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Mark L. YockeyArtisan International Fund | -- | Artisan International Fund - RYA.L In consumer-related holdings, we initiated a position in Ryanair, a low-cost European airline with a strong balance sheet and structural cost advantage. Near-term fare uncertainty... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Vulcan Value Partners, LLCVulcan Value Partners - Focus | InsuranceInsurance | Vulcan Value Partners Focus - RYAN Ryan Specialty Holdings, Inc., reported 11.8% organic revenue growth during the first quarter. However, the company... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Vulcan Value Partners LLCVulcan Value Partners Focus Plus | InsuranceInsurance | Vulcan Value Partners Focus Plus - RYAN Ryan Specialty Holdings, Inc., reported 11.8% organic revenue growth during the first quarter. However, the company... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Brent JacksonOrbis Global Equity Fund | InsuranceInsurance | Orbis Global Equity - RYAN Take insurance brokerage. Brown & Brown... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Jonathan WellumROCKLINC Partners Fund | Rolls-Royce Holdings PLC $RYCEY• NASDAQ | Aerospace & DefenseAerospace & Defense | ROCKLINC Partners Fund - RYCEY Rolls-Royce advances small modular reactors (SMRs) and power systems for reliable, high-density energy needs. Rolls-Royce provides domestic... | 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 → |
| Aug 21, 2026 | Fund Letter | Samit Umatiya | -- | Long RYAM (Rayonier Advanced Materials Inc.) Rayonier Advanced Materials is undergoing a major transition to shift away from commodity pulp toward high-margin specialty cellulose and high-return biomaterials. While temporary operational... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | David G. Herro, Tony Coniaris, Eric Liu, M. Colin Hudson, John A. SitarzOakmark Global Select Fund | PharmaceuticalsPharmaceuticals | Long BAYRY (Bayer) The manager highlights positive clinical trial results for its stroke drug Asundexian, which could become a major growth driver for the pharmaceuticals division. Additionally, regulatory support... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | LindsayArisaig Asia Fund | -- | Long CMRY.JK (Cimory) As Indonesia's premiere consumer food and dairy franchise, this company is maintaining rapid volume-driven growth. Outstanding returns on... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Zeno Equity Partners LLPZeno | Ryanair Holdings $RYAAY• NASDAQ | Passenger AirlinesPassenger Airlines | Long RYAAY (Ryanair) Ryanair has achieved outstanding long-term performance under Michael O'Leary's leadership by continuously prioritizing its cost advantages and everyday low price model over short-term profits. Exceptional, counter-cyclical capital... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Cooper Investors Pty LimitedCooper Investors Global Equities Fund (Unhedged) | InsuranceInsurance | Long RYAN (Ryan Specialty Holdings, Inc.) Ryan Specialty reported strong double-digit revenue and EBITDA growth, showing resilience despite a normalizing insurance pricing environment. The company's focus... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Brian McMahonThornburg Global Opportunities Fund | -- | Thornburg Global Opportunities Fund - MALRY Mineral Resources is the twentieth largest holding. Australia based miner... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Stuart Pearce, Alexis DelloyeAlluvium Global Fund | Ryanair Holdings $RYAAY• NASDAQ | Passenger AirlinesPassenger Airlines | Long RYAAY (Ryanair Holdings plc) Ryanair is thriving in a consolidating European airline market and has achieved significant market share gains. The company's massive... | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Peter SmithPalm Harbour Capital | Rayonier, Inc. $RYN• NYSE | Equity Real Estate Investment Trusts (REITs)Equity Real Estate Investment Trusts (REITs) | Long RYN (Rayonier) Founded in 1926, Rayonier is the second largest publicly traded timberland real estate investment trust in the United States. | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Southeastern Asset Management, Inc.Longleaf Partners Fund | Rayonier, Inc. $RYN• NYSE | Equity Real Estate Investment Trusts (REITs)Equity Real Estate Investment Trusts (REITs) | Long RYN (Rayonier) Timberland companies Rayonier and PotlatchDeltic completed their merger in the quarter to become our largest single position in the Fund. | BULL | View Pitch → |
| Aug 21, 2026 | Fund Letter | Mohnish PabraiPabrai Wagons Fund | Air Freight & LogisticsAir Freight & Logistics | Long RYSAS.IS (Reysas) Reysas is a market-leading Turkish logistics conglomerate characterized by strong recurring revenues and exceptional asset backing. The company's 62%... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Cooper Investors Pty LimitedCooper Investors Global Equities Fund (Unhedged) | InsuranceInsurance | Long RYAN (Ryan Specialty Holdings, Inc.) the investment case for Ryan Specialty (RYAN), the other significant detractor for the period, has been tested by something more traditional - a turning insurance cycle. | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Cooper Investors Pty LimitedCooper Investors Global Equities Fund (Unhedged) | InsuranceInsurance | BEAR | View Pitch → | ||
| Aug 21, 2026 | Fund Letter | Kayode O. Aje | -- | Long MTHRY (M3, Inc.) M3 is the undisputed leader in Japanese digital medical marketing, capitalizing on a long-term shift as pharmaceutical companies cut costs and digitize outreach. While North American... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | Brad HathawayFar View Capital Management | Thryv Holdings Inc $THRY• NASDAQ | Application SoftwareSoftware | Short THRY (Thryv Holdings Inc) Finally, we realized a meaningful loss in Thryv Holdings Inc. (THRY). | BEAR | View Pitch → |
| Aug 21, 2026 | Fund Letter | Cooper Investors Pty LimitedCooper Investors Global Equities Fund (Unhedged) | InsuranceInsurance | Long RYAN (Ryan Specialty Holdings, Inc.) Ryan Specialty is a leading wholesale broker positioned in the rapidly expanding Excess & Surplus insurance market. Driven by increasingly... | BULL | View Pitch → | |
| Aug 21, 2026 | Fund Letter | VVP Q2 Letter 06.30.26 | InsuranceInsurance | Long RYAN (Ryan Specialty Holdings Inc.) Ryan Specialty recently revised its organic growth outlook downwards as property rate declines squeezed premium pricing, despite experiencing massive volume increases in E&S policy submissions. The manager views... | BULL | View Pitch → | |
| Aug 10, 2026 | Substack | scalpavelliSubstack (scalpavelli) | Kion Group AG $KIGRY• NASDAQ | -- | Sunday Market Prep (#17) plus Kion Group micro-pitchKion Group – KIGRY Kion Group, the world's second-largest forklift manufacturer, also offers intelligent automation solutions for warehouses. The stock saw... | BULL | View Pitch → |
| Aug 1, 2026 | Fund Letter | Cooper Investors Pty LimitedCooper Investors Global Equities Fund (Unhedged) | InsuranceInsurance | Cooper Investors Global Equities Fund (Unhedged) – RYAN K. (4478) and wholesale... | BEAR | View Pitch → | |
| Jul 31, 2026 | Seeking Alpha | Seeking Alpha ContributorSeeking Alpha | Consumer DiscretionaryConsumer Discretionary | Dr. Ing. h.c. F. Porsche AG Porsche's H1 2026 results show a stronger-than-expected performance with an increase in operating profit and margin improvements. Despite a decline... | NEUTRAL | View Pitch → | |
| Feb 25, 2026 | Fund Letter | Tim GallagherUnconventional Value | Thryv Holdings Inc $THRY• NASDAQ | Application SoftwareSoftware | Unconventional Value 2025 Q4 (THRY) Thryv is a different story. I own it... | BULL | View Pitch → |
| Feb 20, 2026 | Fund Letter | Cooper Investors Pty LimitedCooper Investors Global Equities Fund (Unhedged) | InsuranceInsurance | Cooper Investors Global Equities Fund (Unhedged) 2025 Q4 (RYAN) Ryan Specialty Group (RYAN) is currently navigating a soft underlying insurance pricing environment predominantly in the property portion of the business. Even in this... | BULL | View Pitch → | |
| Feb 20, 2026 | Fund Letter | Freddie LaitLatitude Global Fund | Ryanair Holdings $RYAAY• NASDAQ | Passenger AirlinesPassenger Airlines | Latitude Global Fund 2025 Q4 (RYAAY) This is certainly the case for Ryanair, which produced a total return of 58% last year. Despite this, Ryanair... | BULL | View Pitch → |
| Jan 29, 2026 | Fund Letter | Desmond KingsfordHighwood Value Partners | Ryanair Holdings $RYAAY• NASDAQ | Passenger AirlinesPassenger Airlines | Highwood Value Partners 2025 Q4 (RYAAY) Ryanair is Europe's largest low-cost airline with a structurally advantaged cost base and long runway for share gains as weaker carriers struggle to earn acceptable returns. The company has... | BULL | View Pitch → |
| Jan 28, 2026 | Fund Letter | Brad HathawayFar View Capital Management | Thryv Holdings Inc $THRY• NASDAQ | Application SoftwareSoftware | Far View Capital Management 2025 Q4 (THRY) Finally, we realized a meaningful loss in Thryv Holdings Inc. (THRY). Despite my initial... | BEAR | View Pitch → |
| Jan 28, 2026 | Fund Letter | Erin GreenfieldGreenfield Investment Management | Ryanair Holdings $RYAAY• NASDAQ | Passenger AirlinesPassenger Airlines | Greenfield Investment Management 2025 Q4 (RYAAY) Ryanair – This is the largest airline in Europe. We bought Ryanair's... | BULL | View Pitch → |
| Jan 24, 2026 | Fund Letter | Charles P. MurphyLiberty Park Capital Management | Thryv Holdings Inc $THRY• NASDAQ | Application SoftwareSoftware | Liberty Park Capital Management 2025 Q4 (THRY) THRY reported deteriorating organic SaaS metrics that raised concerns over the company's long-term outlook. Customer growth and... | BEAR | View Pitch → |
| Jan 23, 2026 | Fund Letter | Mawer Investment Management Ltd.Mawer International Equity Fund | Royal Bank of Canada $RY• NYSE | BanksBanks | The Bristol Gate Canadian Equity 2025 Q4 (RY CN) The Royal Bank of Canada (RY) is Canada's largest bank, with operations across North America and globally and a workforce of more than 100,000 employees. The bank has... | BULL | View Pitch → |
| Jan 8, 2026 | Fund Letter | Matthew SweeneyLaughing Water Capital | Thryv Holdings Inc $THRY• NASDAQ | Application SoftwareSoftware | Laughing Water Capital 2025 Q2 (THRY) Thryv Holdings Inc (THRY) – Thryv, our small and medium business software company that is also harvesting cash flows from a legacy business that is in runoff mode, declined approximately 40% from its February high until quarter end. The high price... | BULL | View Pitch → |
| Jan 8, 2026 | Fund Letter | Tim GallagherUnconventional Value | Thryv Holdings Inc $THRY• NASDAQ | Application SoftwareSoftware | Unconventional Value 2025 Q2 (THRYV) Let's now talk about a different name: Thryv. Very basic business... | 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 → |
| Dec 4, 2025 | Fund Letter | Eric Mintz, Christopher Sassouni, David CavanaughCarillon Eagle Mid Cap Growth Fund | InsuranceInsurance | Carillon Eagle Mid Cap Growth Fund 2025 Q2 (RYAN) Ryan is a leading insurance broker specializing in excess and surplus lines (E&S) insurance. While first-quarter results... | BULL | View Pitch → | |
| Dec 3, 2025 | Fund Letter | Amy ZhangAlger Mid Cap Focus Fund | InsuranceInsurance | Alger Mid Cap Focus Fund 2025 Q2 (RYAN) Ryan Specialty Holdings is a leading provider of specialty insurance products and services, acting as a broker between insurance agents, brokers, and carriers. During the quarter,... | BULL | View Pitch → | |
| Nov 28, 2025 | Fund Letter | Art DeGaetanoBramshill Income Performance Fund | -- | Long US TREASURY-T (US Treasury Securities) The Fund's top holdings include long-term and mid-term U.S. Treasuries, which comprise roughly 20% of assets. The portfolio maintains... | BULL | View Pitch → | |
| Nov 28, 2025 | Fund Letter | Hardman Johnston Global Advisors LLCHardman Johnston Large Cap Equity | PRYSMIAN S.p.A. $PRY• NYSE | -- | Hardman Johnston Large Cap Equity 2025 Q3 (PRY) Prysmian was a top contributor, supported by ongoing grid modernization demand. The company's cable... | BULL | View Pitch → |
| Nov 28, 2025 | Fund Letter | Southeastern Asset Management, Inc.Longleaf Partners Fund | Rayonier, Inc. $RYN• NYSE | Equity Real Estate Investment Trusts (REITs)Equity Real Estate Investment Trusts (REITs) | Longleaf Partners Fund 2025 Q3 (RYN) We initiated positions in both Rayonier and PotlatchDeltic in the quarter. Rayonier was an... | BULL | View Pitch → |
| Nov 28, 2025 | Fund Letter | Kovitz Investment Group Partners, LLCKovitz Core Equity | InsuranceInsurance | Kovitz Core Equity 2025 Q3 (RYAN) Ryan is a broker of specialty insurance, which is a fast-growing segment of the property & casualty insurance market. The company was... | 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.