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 |
|---|---|---|---|---|
Bonhoeffer Capital Management Keith D. Smith | “NBN's originated loans have been increasing by about 30% over the past year while purchased loans have made up the remainder. The purchase of orphan loans can be expected to be episodic and opportunistic and, therefore, unevenly distributed over time. By comparison, SBA loans have been more consistent in volume. That assumption holds but NBN's SBA loan growth has slowed down due to the Trump administration's changes to the SBA loan criteria. With the adjustment to the new SBA criteria, loan levels have increased but not to the extent management has expected. Banking mergers and acquisitions is picking up which should increase the purchased loan targets for NBN. The selling of insured loans, NBN's new loan platform, has grown slower than management has expected despite the high yields (10%+) and an insurance cover for 25% of losses with a 4% deductible. The slower than anticipated growth in these two platforms has led to a stagnant stock price despite increasing returns on equity. Over time, management expects the initial growth to materialize over a longer period of time. Non-performing loans decreased slightly to 0.56% of loans and loan loss provisions of 1.3% of loans. The key assumptions in this Discounted Cash Flow include a flat operating margin. NBN has typically retained excess cash flow to support orphan loan purchases and SBA originations. These assumptions result in a 17% EPS growth rate, a $424 per share value and a 27% IRR.” | NEUTRAL | Q2 2026 Aug 11, 2026 | View Pitch |
Hinde Group Marc Werres | “Our positions in Interactive Brokers Group, Inc. class A common stock (NASDAQ: IBKR), Northeast Bank voting common stock (NASDAQ: NBN), Amazon.com, Inc. common stock (NASDAQ: AMZN) and Alphabet Inc. class C capital stock (NASDAQ: GOOG) drove the portfolio's gain during the quarter. Those stocks gained between 29.8% (IBKR) and 14.4% (AMZN) during the quarter.” | NEUTRAL | Q2 2026 Aug 10, 2026 | 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.
