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 |
|---|---|---|---|---|
Maple Tree Capital - Jonagold HenryInvests | “Shares of Grindr have entered into a steep decline over the quarter. The market now believes GRND faces increased competition, from a fast growing “orgy” dating app Sniffies, as well as overstated/inflated user metrics. While Grindr has addressed these concerns, ARPPU growth came in light during their most recent quarter and a short report was issued, adding steam to this narrative. We continue to believe Grindr is positioned well to become the social network for the LGBTQ+ community and we anticipate adding to our stake in Q3. BSD Analysis: Grindr's engagement metrics are off the charts, giving it one of the stickiest user bases in social media — a rare advantage in a churn-heavy industry. The company is finally monetizing intelligently with tiered subscriptions and richer features that boost ARPU without hurting usage. Margins are exceptional for a company this size, but governance quirks keep institutions cautious. The core product is highly defensible — there is no meaningful competitor with its community depth or brand equity. Growth is lumpy, yet the long-term trajectory remains compelling. If management tightens execution and improves transparency, rerating follows quickly. GRND is one of the few niche social platforms with real pricing power.” | BULL | Q3 2025 Oct 8, 2025 | View Pitch |
Maple Tree Capital - Jonagold HenryInvests | “Grindr reported fantastic earnings once again in May, demonstrating further progress on becoming the 'Gayborhood in Your Pocket'. Maple Tree Capital is up well over 100% on our position, and Grindr is now a maturing company that spits free cash flow with enormous EBITDA margins, and soon, net margins. Despite this, we did trim our position at $23.00 ($22.17 -3.6% as of 7/2) to buy Lemonade at $31.95 ($42 +31.5% as of 7/2) which was a huge benefit to Jonagold's performance. We find ourselves trading less, but the size of each trade is becoming larger. BSD Analysis: Grindr is described as a rapidly scaling, high-margin social-media business with strong pricing power and rising subscription penetration. The manager emphasizes very high EBITDA margins (external estimates often 40–45%), robust free-cash-flow generation, and a long runway for monetization via ads and premium features. With niche-network dominance and low competitive risk, GRND screens attractive relative to other small-cap social platforms on EV/EBITDA. Risks include regulatory scrutiny and cyclical ad spend, but fundamentals support continued compounding.” | BULL | Q2 2025 Jul 4, 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.
