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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 | Movies & EntertainmentEntertainment | AVI Global Trust - VIV.PA Vivendi was the most significant detractor over the interim period, with a total return of -40%, costing us -297bps as the shares suffered a double whammy of NAV weakness and discount widening. From a high... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Aaron ChanRecurve Capital | Other Specialty RetailSpecialty Retail | Recurve Capital - CVNA Carvana is -22% YTD through June 30th and has driven about 80% of our negative performance YTD. An otherwise slightly... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Daniel GladišVltava Fund | Consumer FinanceConsumer Finance | Vltava Fund - V We bought shares in Visa and Kaspi.kz. Visa probably needs... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Daniel GladišVltava Fund | Oil, Gas & Consumable FuelsOil, Gas & Consumable Fuels | Vltava Fund - CVE.TO We also sold the Canadian Cenovus Energy. This was the... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Mohnish PabraiPabrai Wagons Fund | Energy Equipment & ServicesEnergy Equipment & Services | Pabrai Wagons Fund - VAL We have 3 positions in U.S. offshore oil services. Offshore accounts for... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Mohnish PabraiPabrai Wagons Fund | Airport ServicesTransportation Infrastructure | Pabrai Wagons Fund - TAVHL.IS TAV operates 15 airports in 8 countries. TAV has high... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Andrew D.W. HillAndrew Hill Investment Advisors, Inc. | GE Vernova Inc. $GEV• NYSE | MachineryMachinery | Andrew Hill Investment Advisors - GEV Fancy data centers don't run without electricity. Hence, we have... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Andrew D.W. HillAndrew Hill Investment Advisors, Inc. | NVIDIA Corporation $NVDA• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Andrew Hill Investment Advisors - NVDA Nvidia's stock has waned recently, despite excellent financial performance. Their cash flow... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Andrew D.W. HillAndrew Hill Investment Advisors, Inc. | BiotechnologyBiotechnology | Andrew Hill Investment Advisors - VRTX Vertex Pharmaceuticals has caught the eye of investors as well. Vertex is developing... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Jason & JesseDKAM Donville Kent Asset Management | Health Care TechnologyHealth Care Technology | DKAM Donville Kent Asset Management - VHI.TO VitalHub Reported Q1 Earnings – Cash Earnings +35%. Revenue $31.9M +47%,... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Paul CerroCedar Grove Capital Management | BiotechnologyBiotechnology | Cedar Grove Capital Management - ABVX During the quarter, we increased our positions in Nektar Therapeutics (NKTR), Abivax SA (ABVX), The Oncology Institute (TOI), and Evolv Technologies (EVLV). NKTR and ABVX... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Paul CerroCedar Grove Capital Management | Sanuwave Health, Inc. $SNWV• NASDAQ | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Cedar Grove Capital Management - SNWV Our biggest detractors were KITS Eyewear (KITS.TO), Sanuwave Health (SNWV), and Evolv Technologies (EVLV). Sanuwave was a... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | David A. Rolfe, Michael X. Quigley, Christopher T. JersanWedgewood Partners | Consumer FinanceConsumer Finance | Wedgewood Partners - V Visa contributed to quarterly performance, reporting accelerating revenue growth of 17%, driven by 11% growth in payment volumes and 21% growth in cross-border volume. Value-added services also... | NEUTRAL | View Pitch → | |
| 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 Australian Shares Fund | Application SoftwareSoftware | Forager Australian Shares Fund - BVS.AX The Fund fully exited Bravura Solutions and Catapult early in the financial year, only to see both stocks back in the portfolio by February as software valuations fell. Bravura added 1.9%... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Brad HathawayFar View Capital Management | Sanuwave Health, Inc. $SNWV• NASDAQ | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Far View Capital Management - SNWV Offsetting these solid results, Far View suffered substantial losses in Sanuwave (SNWV). Continued disruption in... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Nathan Fredrick, CFARiverwater Partners Small Cap Strategy | Stevenato Group SpA $STVN• NASDAQ | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Riverwater Partners Small Cap Strategy - STVN In addition, we initiated positions in Stevanato Group (STVN), a leading global provider of drug containment, drug delivery, and diagnostic solutions to the pharmaceutical, biotechnology, and life sciences industries. The stock sold... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Adam J. Peck, CFARiverwater Sustainable Value Strategy | Stevenato Group SpA $STVN• NASDAQ | Health Care Equipment & SuppliesHealth Care Equipment & Supplies | Riverwater Sustainable Value Strategy - STVN Founded in 1949 and headquartered in Piombino Dese, Italy, Stevanato is a leading global provider of drug containment and delivery solutions (think glass vials and syringes) to the pharmaceutical, biotechnology, and life sciences industries. The company remains... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Adam J. Peck, CFARiverwater Sustainable Value Strategy | Veeco Instruments $VECO• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Riverwater Sustainable Value Strategy - VECO Veeco Instruments (VECO) was our largest contributor for the quarter. As a supplier... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Andrew MackenMontaka Global Investments | Consumer FinanceConsumer Finance | Montaka Global Investments - V We substantially increased our investments in Visa and Mastercard on the basis described above. We see a... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Tom Treanor & Charlotte CuthbertsonAVI Worldwide Opportunities Fund | Asset Management & Custody BanksCapital Markets | AVI Worldwide Opportunities Fund - HVPE.L Our listed private equity positions, Harbourvest Global Private Equity (HVPE) and Pantheon International (PIN) performed well over the quarter, adding just under 100bps on a combined basis to AWO's NAV. At a high... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Haruki Toyama, Andy Romanowich, Rich EisingerMadison Mid Cap Fund | Verisk Analytics, Inc. $VRSK• NASDAQ | Professional ServicesProfessional Services | Madison Mid Cap Fund - VRSK We purchased shares in Verisk Analytics (VRSK), the dominant provider of data and analytics to property and casualty insurers in the U.S. Insurers use Verisk's proprietary data to assess and price risks, and to manage claims. Because its data... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | David SteinthalL1 Capital International Fund | NVIDIA Corporation $NVDA• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | L1 Capital International Fund - NVDA TSMC contributed more than 2.0% to the Fund's returns (measured in A$), while Amazon.com contributed around 1.0%. Four other companies... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Tim CarletonAuscap Asset Management | Other Specialty RetailSpecialty Retail | Auscap Asset Management - LOV.AX Lovisa is a global, fast fashion, jewellery retailer that offers affordable, trend-based jewellery. It operates in... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Nathan Fredrick, CFARiverwater Micro Opportunities Strategy | Red Violet, Inc. $RDVT• NASDAQ | Application SoftwareSoftware | Riverwater Micro Opportunities Strategy - RDVT Red Violet, a data analytics and identity intelligence provider, gained approximately 84%. The company's proprietary... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Matt Burdett, Christian Hoffmann, Brian McMahonThornburg Equity Income Builder Fund | Telecommunication ServicesTelecommunication Services | Thornburg Equity Income Builder Fund - VOD.L Multinational telecom network operator. 255 million wireless,... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Matt Burdett, Christian Hoffmann, Brian McMahonThornburg Equity Income Builder Fund | Broadcom Inc. $AVGO• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Thornburg Equity Income Builder Fund - AVGO Develops and markets digital and analogue application specific semiconductors. +9.1% in 1H... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | RS Value TeamRS Large Cap Val Strategy | CVS Health $CVS• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | RS Large Cap Val Strategy - CVS CVS Health is a diversified healthcare services company with leading positions in pharmacy benefits management, retail pharmacy, and health insurance (via its Aetna franchise). We initiated our... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Jason Wolf, Ryan DobratzThird Avenue Real Estate Value Fund | Savills plc $SVS.L• LSE | Real Estate ServicesReal Estate Management & Development | Third Avenue Real Estate Value Fund - SVS.L With respect to the Fund's international holdings, Savills plc (Savills) was increased during the quarter. Also a long-time... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Matthew FineThird Avenue Value Fund | Energy Equipment & ServicesEnergy Equipment & Services | Third Avenue Value Fund - VAL However, on the more frustrating end of the performance ledger were Tidewater, Valaris, Harbour Energy, BMW and Jardine Cycle & Carriage. Although, it should... | BULL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Matthew SweeneyLaughing Water Capital | Avanos Medical $AVNS• NASDAQ | Health Care EquipmentHealth Care Equipment & Supplies | Laughing Water Capital - AVNS Avanos was acquired for a 72% premium. In brief, Avanos... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Benjamin Allen, Todd Ahlsten, Andrew ChoiParnassus Core Equity Fund | GE Vernova Inc. $GEV• NYSE | MachineryMachinery | Parnassus Core Equity Fund - GEV GE Vernova, another new position, had previously sold off significantly and reached a valuation that we found compelling. Shares of the... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Chip ReweyRewey Asset Management | Vontier Corporation $VNT• NYSE | Electronic Equipment & InstrumentsElectronic Equipment, Instruments & Components | Rewey Asset Management - VNT We initiated a position in Vontier Corp. (NYSE: VNT), a $4.2 billion industrial technology company that provides fueling equipment, payment systems, and automotive repair tools. Although Vontier became... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | NZS Capital, LLCNZS Capital - Growth | NVIDIA Corporation $NVDA• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | NZS Capital Growth - NVDA NVIDIA was added back to the portfolio as a resilient position late in the quarter. NVIDIA had been... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Andrew BrownEast72 Dynasty Trust | -- | East72 Dynasty Trust - EVT.AX EVT Limited shares are trading at the same price as they were eleven years ago. At $12.88 (30... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | The Heartland Investment TeamHeartland Value Fund | i3 Verticals, Inc. $IIIV• NASDAQ | Application SoftwareSoftware | Heartland Value Fund - IIIV While the herd mentality initially drove up PLAB shares on AI hopes, other companies have been overly punished by disruption fears. Case in point:... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | David MoonMoon Capital Management | DaVita, Inc. $DVA• NYSE | Health Care FacilitiesHealth Care Providers & Services | Moon Capital Management - DVA During the second quarter, we exited our position in the kidney dialysis services company DaVita. While DaVita remains... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Jay WarnerArtisan Partners Small Cap Fund | Virtu Financial, Inc. $VIRT• NASDAQ | Investment Banking & BrokerageCapital Markets | Artisan Partners Small Cap Fund - VIRT Virtu Financial is a technology-enabled market maker and execution services provider. We believe it... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Cole SmeadSmead International Value Fund | Oil, Gas & Consumable FuelsOil, Gas & Consumable Fuels | Smead International Value Fund - CVE We particularly like SAGD (steam assisted gravity drainage) oil assets, which Cenovus (CVE), Strathcona Resources (SCR), International Petroleum (IPCO) and Imperial Oil (IMO) have. These companies are... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Nelson WuOpen Insights Capital | Energy Equipment & ServicesEnergy Equipment & Services | Open Insights Capital - VAL Similar to our OXY holdings, our Valaris (VAL) investment also round-tripped. As you may... | NEUTRAL | View Pitch → | |
| Sep 2, 2026 | Fund Letter | Graham F. RhodesLongriver Investment Partners | NVIDIA Corporation $NVDA• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Longriver Investment Partners - NVDA Nvidia sells working computing systems, not merely chips. Its software, scale... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Mike PoggiBrown Advisors Global Leaders Strategy | NVIDIA Corporation $NVDA• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Brown Advisors Global Leaders Strategy - NVDA The outcome of this work on fast-evolving semiconductor end markets was the initiation of an investment in Nvidia in Global Leaders in June. Over the last... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Andrew OskouiBlue Tower Asset Management | Enova International, Inc. $ENVA• NASDAQ | Consumer FinanceConsumer Finance | Blue Tower Asset Management - ENVA In Q2, we gained 18.91% net of fees (19.24% gross), bringing the 2026 YTD gain to 20.84% net (21.49% gross). This performance was... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Brown Advisors Mid Cap Growth strategy | Viking Holdings $VIK• NYSE | Hotels, Restaurants & LeisureHotels, Restaurants & Leisure | Brown Advisors Mid Cap Growth strategy - VIK Viking Holdings (VIK) is one of the only pure-play public luxury cruise operators. The company built... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Brown Advisors Mid Cap Growth strategy | Marvell Technology, Inc. $MRVL• NASDAQ | Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment | Brown Advisors Mid Cap Growth strategy - MRVL Marvell Technology Inc (MRVL), a designer of custom AI chips and our largest contributor, returned 166% during the period; consistent with our price discipline, we sold the position on valuation. Shares of Marvell... | BULL | View Pitch → |
| Sep 2, 2026 | Fund Letter | Balkar Sivia, CFAWhite Falcon Capital Management | Topicus.com $TOI.V• TSX | Application SoftwareSoftware | White Falcon Capital Management - TOI.V Topicus, a portfolio company, is an excellent example. Topicus acquires and... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | C.T. FitzpatrickVulcan Value Partners - All Cap | Veeva Systems Inc. $VEEV• NASDAQ | Health Care TechnologyHealth Care Technology | Vulcan Value Partners All Cap - VEEV Veeva is the dominant vertical market software system of record for the life sciences industry. Their customers rely... | NEUTRAL | View Pitch → |
| Sep 2, 2026 | Fund Letter | C.T. FitzpatrickVulcan Value Partners - All Cap | Elevance Health Inc. $ELV• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | Vulcan Value Partners All Cap - ELV UnitedHealth and Elevance are the two largest private health insurers in the country, serving a combined 94 million members. We have owned... | 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 | C.T. FitzpatrickVulcan Value Partners - Large Cap | Elevance Health Inc. $ELV• NYSE | Health Care Providers & ServicesHealth Care Providers & Services | Vulcan Value Partners Large Cap - ELV We have owned Elevance for several years. Like UnitedHealth Group,... | NEUTRAL | 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.