Institutional ticker directory tracking stock mentions, long/short ideas, and high-conviction pitches extracted from quarterly hedge fund letters.
| Ticker | Company | Sector | Industry | Pitches | Stance |
|---|---|---|---|---|---|
| Fund / Manager | Thesis Excerpt | Stance | Period / Date | Action |
|---|---|---|---|---|
Madison Small Cap Fund Faraz Farzam, Aaron Garcia | “Amplitude has undergone a significant turnaround following the arrival of CFO Andrew Casey, refocusing the company on profitable growth and free cash flow. The platform helps enterprises analyze user engagement, retention and monetization across web and mobile products. The business features highly recurring revenue, strong gross margins and extremely high switching costs, as migrating analytics systems is disruptive and costly. The balance sheet is pristine with no debt and nearly $270 million in cash. After being overlooked post-IPO, we believe the valuation is compelling and estimate intrinsic value at $21. BSD Analysis: Amplitude sells analytics to product teams that actually want to understand user behavior, not just report vanity metrics. Its platform is powerful, but the problem is budget scrutiny — analytics is easy to delay when growth slows. Customer love is high, but monetization and expansion have lagged expectations. Competition from bundled tools and hyperscalers is intense. The upside case rests on Amplitude proving it can turn usage into durable, profitable revenue. Cost discipline is improving, but confidence still needs rebuilding. This is no longer a hypergrowth SaaS — it's a credibility rebuild. If product-led growth reasserts itself, upside exists. Until then, this is a “show me” story.” | BULL | Q4 2025 Dec 31, 2025 | View Pitch |
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.
