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 |
|---|---|---|---|---|
Buckley Capital Zack Buckley | “Celsius is a new position for us. We are attracted to the relatively low cyclicality and strong secular growth of the business. The energy drinks industry is growing at high single to low double digits, and CELH will maintain or likely grow its market share over time. Additionally, Monster Beverage, its main comp, has 31.5% EBITDA margins and is one of the best-performing stocks of the last 30 years. MNST trades at 42x 2026 estimated earnings while CELH trades at 19x. More importantly, CELH trades at closer to 12x our estimate of 2027 earnings while MNST trades at 37x. This huge delta should converge as CELH is facing some short-term issues that we believe will clear up in the next few months. The first is the company's need to rationalize its portfolio of SKUs, which is currently in process. The Celsius brand overall has been showing negative growth, but as the SKU count rationalization completes, the remaining SKUs should grow at double digits, and this headwind will shift to a tailwind. Additionally, CELH is getting significantly more distribution over the next 6-12 months, with a 17% increase expected. The negotiations for the increased shelf space are done, but there is a delay in implementation due to hardware installs which are underway. Lastly, Red Bull is raising prices by high single digits in the next 9 months, and we believe CELH will get the chance to follow shortly afterward. With multiple tailwinds in 2027 and easy comps, we believe consensus estimates of 8% revenue growth only give CELH credit for the price increases, and ignore the additional upside from the upcoming SKU rationalization, the significant distribution gains, and the high growth of the company's newest brand, Alani Nu, which is currently growing 30%+ per year. Once the company gets through its current slowdown (much of which is deliberate, as CELH is slowing down innovation while it focuses on the integration of Alani Nu and Rockstar, their integration into Pepsi's distribution system, and the SKU rationalization), it plans on accelerating new launches. Putting all these together, we think CELH can generate around $2.25-2.50/share in EPS in 2027, and it should trade at 20-30x earnings, leading to a $50-$60/stock versus $30 today. We think by 2030, CELH can do around $4.00/share in earnings, which would lead to an $80-$120 stock by then. We think there is a very low probability of downside at today's levels, given that the shares are trading at such a low multiple with such strong growth potential over the next few years.” | NEUTRAL | Q2 2026 Jul 25, 2026 | View Pitch |
Immersion Investment Partners David Polansky | “Celsius Holdings (CELH – Doubted Champion) announced an expanded partnership with PepsiCo in August 2025. As part of the agreement, Pepsi transferred its Rockstar Energy brand to Celsius, invested $585 million for convertible preferred shares, and increased its ownership to over 10%. More importantly, Celsius gained full control of Pepsi's energy drink distribution, giving it authority over truck placements and shelf visibility. This structural shift is expected to accelerate market share gains for both Celsius and Alani Nu, which moved its North American distribution fully to Pepsi's system. Management expects Alani's sales to double within a year and projects $300 million in incremental adjusted EBITDA by 2026, implying that 2027 targets could be achieved one year early. Despite these developments, Celsius still trades at similar EV/Sales and EV/EBITDA multiples as slower-growing peers like Monster. BSD Analysis: Immersion views Celsius as the emerging dominant force in energy beverages, backed by distribution scale and brand momentum. The transfer of Rockstar and Pepsi's deeper integration should drive material shelf-space expansion and revenue acceleration. Alani Nu's synergy adds a secondary growth engine, while Celsius' EBITDA potential ($840M+ projected by 2026) remains underappreciated. With gross margins near 50% and industry-leading volume growth, CELH deserves a premium multiple. A re-rating to 30x EV/EBITDA could drive significant upside as the market digests Pepsi's strategic alignment and Celsius' accelerating fundamentals.” | BULL | Q3 2025 Sep 30, 2025 | View Pitch |
Argosy Investors Mike Loeb | “Celsius Holdings experienced a short-term inventory overhang with distributor Pepsi, causing its stock price to drop below $30 from its $90 peak and creating a compelling entry point. The acquisition of competitor Alani Nu consolidates Celsius' leading position in the better-for-you energy drink market, while a reasonable valuation of 21x 2026 consensus earnings provides attractive GARP potential.” | BULL | Q1 2025 May 30, 2025 | View Pitch |
Infuse Partners Ryan Reeves | “The fund liquidated its position in Celsius during the year due to valuation concerns. The exit generated realized gains, reflecting the manager's commitment to prioritizing valuation discipline over tax avoidance.” | BEAR | Q4 2024 Dec 31, 2024 | 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.
