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 |
|---|---|---|---|---|
Heartland Mid Cap Value Fund Colin McWey, Will Nasgovitz, Troy McGlone | “ON Semiconductor (ON) manufactures power management and image sensing semiconductor products for automotive and industrial end markets. ON is a leader in silicon carbide semiconductors, which are used primarily in electric vehicles (EVs), renewable energy inverters, and high-power industrial equipment to reduce energy loss and improve efficiency. ON endured a cyclical deceleration in its auto and clean-energy-related markets that began in 2023. Throughout the downturn, management implemented a robust self-help playbook that optimized the company's manufacturing footprint and product portfolio for both a cyclical upturn and secular growth drivers. This included a new product platform with much higher profit margins than the existing business. More recently, the company has gained market share with leading global EV manufacturers, enjoying outsized representation in newer car models. In AI datacenters, power voltage requirements are rising, helping to drive adoption for ON's next-generation power management solutions. However, investors counting on rapid datacenter-related growth should keep in mind that, even in the most optimistic scenarios, datacenter-related revenue will be a materially smaller percentage of ON's sales compared to its core automotive and industrial end markets. Nevertheless, the market was willing to capitalize future datacenter benefits in short order. After more than doubling in price by early June, the stock reached our price target, and we reduced our weighting. We acknowledge that multiple drivers for ON have come together simultaneously, creating potential for an intrinsic value scenario. We intend to maintain a reasonably sized position.” | NEUTRAL | Q2 2026 Jul 17, 2026 | View Pitch |
Jensen Investment Adam Calamar, Kurt Havnaer, Tyra Pratt | “The manager fully exited ON due to persistent deterioration in its fundamental business results. This decline raised concerns that the company's ROE would fall below the fund's strict minimum hurdle of 15%.” | BEAR | Q1 2026 Apr 29, 2026 | View Pitch |
Cambiar SMID Fund Ania A. Aldrich | “We also made a swap within the Tech sector, selling IT services provider Amdocs in favor of ON Semiconductor. With the recent announcement of a CEO transition and fairly muted upside at current valuat” | BULL | Q1 2026 Apr 29, 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.
