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 |
|---|---|---|---|---|
Myrmikan Research Daniel Oliver | “The giant private equity firms, BlackRock, Blackstone, Apollo, KKR, Brookfield, etc., are all vying for AI infrastructure deals and their associated fees. According to Bloomberg: The amount of debt tied to artificial intelligence has ballooned to $1.2 trillion, or 15% of the investment-grade market. On August 10, the firms listed above announced a syndicate to source $500 billion in additional financing for Nvidia: The deals will use compute power as collateral for the debt. Apollo has placed $227 billion of its deals into Athene US Life, its captive life insurance company. Apollo-backed Athene US Life has reinsured substantially all of its $200 billion in annuity liabilities with Athene Holding Ltd. Bermuda.” | NEUTRAL | Q2 2026 Aug 31, 2026 | View Pitch |
Apollo Global Management, Inc. Marc Rowan | “Apollo Global Management, Inc. (NYSE: APO) today reported results for the second quarter ended June 30, 2026. GAAP Net Income Attributable to Apollo Global Management, Inc. Common Stockholders was $1.3 billion for the quarter ended June 30, 2026, or $2.18 per share. Apollo's primary non-GAAP earnings metric, Adjusted Net Income, which represents the sum of FRE, SRE, and PII, less HoldCo interest and other financing costs and taxes, totaled $1.3 billion, or $2.11 per share, for the second quarter. Apollo Global Management, Inc. has declared a cash dividend of $0.5625 per share of its Common Stock for the second quarter ended June 30, 2026. This dividend will be paid on August 31, 2026 to holders of record at the close of business on August 19, 2026. Our strong second quarter results reflect record earnings across Asset Management and Retirement Services, highlighting the quality and growing scale of our business. We are at the forefront of modernizing how private markets operate by enhancing transparency, improving liquidity, and broadening access. In a market evolving quickly with increasing demand for capital, the breadth of our origination capabilities combined with a principal mindset positions us to help shape what comes next.” | NEUTRAL | Q2 2026 Aug 4, 2026 | View Pitch |
“We initiated a 3% position in Apollo during the second quarter. Apollo has almost $1 Trillion in assets under management with the vast majority being in private credit. Apollo has unmatched capabiliti” | NEUTRAL | Q2 2026 Jul 15, 2026 | View Pitch | |
AGT Partners Greg | “In 2025, both stocks were down for the year — APO -11.1%. After a strong run in 2023-2024, where share prices ran up much faster than earnings, the company started the year at what we believe were high valuations — APO at 19x PE. Even as earnings continued to grow in 2025, valuations came down more due to industry-specific concerns around private equity fundraising and private credit risks. Despite negative headlines, underlying fundamentals continue to perform. As of 3Q2025, over the last twelve months, APO's AUM, management fees and fee-related earnings have grown 23.9%, 19.6% and 21.7%, respectively. We were glad to add to our positions at what we believe to be reasonable valuations. We continue to see tailwinds in alternative assets and believe APO is well-positioned to compound AUM, fees and earnings for many years. :contentReference[oaicite:3]{index=3} BSD Analysis: Apollo Global Management is capitalizing on a "K-shaped" economy, leveraging its industry-leading origination platforms to capture high-quality, investment-grade private credit opportunities. The firm recently reported record fee-related earnings growth of 23 percent, driven by a massive expansion in its wealth management platform and third-party insurance mandates. In 2026, Apollo expects to achieve a significant expansion in its FRE margins as it scales its Atlas origination business and launches new products for the private wealth channel. Management's focus on the convergence of asset management and retirement services through Athene provides a steady, uncorrelated source of capital that differentiates it from pure-play private equity firms. As institutional demand for private credit continues to surge, Apollo's scale and disciplined underwriting position it for sustained double-digit earnings growth.” | BULL | Q4 2025 Dec 31, 2025 | View Pitch |
PM Capital Global Companies Fund Paul Moore | “The decision to add to Apollo was driven by a pronounced valuation disconnect as the stock experienced a peak-to-trough drawdown of approximately 30% from its 2025 highs. Apollo retains a core position anchored by its unique credit origination engine and strength of its Athene retirement services platform. BSD Analysis: Apollo is positioning itself as a primary beneficiary of the private credit supercycle, with its 2026 outlook centered on the massive expansion of its retirement services and wealth management platforms. The firm is successfully leveraging its Athene insurance arm to provide a steady, low-cost capital base that differentiates it from pure-play private equity peers. Management expects to drive significant fee-related earnings growth as it scales its "origination ecosystem," particularly in infrastructure and asset-backed finance. While higher-for-longer interest rates pose a challenge for traditional buyouts, Apollo's credit-heavy model is thriving, delivering high-teens returns on equity. Investors are increasingly valuing the firm for its predictable cash flows and its leading role in the professionalization of the global private markets.” | BULL | Q4 2025 Dec 31, 2025 | View Pitch |
AGT Partners Greg | “Historically, alternative asset managers primarily served institutional investors (sovereign wealth funds, pension funds etc.) seeking exposure to alternative assets. However, individual investors, from high-net-worth individuals to mass-affluent clients, are now increasingly interested in this asset class (private equity, infrastructure, credit etc.), creating a market potentially as large as the institutional segment. The industry is also now on the cusp of being able to sell products to the 401(k) market, which holds an estimated $7 trillion in assets. Demand for investment-grade private credit is rising as well, driven by insurance companies seeking excess spread and institutional investors looking for alternatives to publicly traded fixed income. In this industry, brand and scale are critical – wealth advisors are more likely to recommend products from established firms which have long, successful track records. Hence, it is likely that the major players will be getting an increasing portion of the pie moving forward. Supported by these tailwinds, we believe APO and KKR are well-positioned with a long runway ahead for continued AUM growth and compounding of earnings, as they broaden their product offerings and deepen distribution across both individual and institutional channels. We have thus added to our positions at what we believe to be reasonable valuations, and these are businesses we expect to own for many years, if not indefinitely. :contentReference[oaicite:1]{index=1} BSD Analysis: Apollo thrives where complexity scares traditional investors. Its credit-heavy focus generates steady fee income even when private equity cycles cool. Insurance float through Athene provides permanent capital, which is the real strategic advantage. Scale allows Apollo to structure deals others can't touch. Earnings can look volatile, but fee-related earnings tell the cleaner story. Risk management is central, not decorative. This is not a bull-market-only asset manager. It's a capital machine built for dislocation. Apollo works best when markets get uncomfortable.” | BULL | Q3 2025 Oct 23, 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.
