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 |
|---|---|---|---|---|
Vulcan Value Partners - Large Cap C.T. Fitzpatrick | “PROG Holdings suffered a sharp share decline following the liquidation of a major partner, Big Lots. The manager maintains that the market's negative reaction was excessive and expects the firm to recapture lost volume through existing and new partnerships.” | BULL | Q1 2025 Mar 31, 2025 | View Pitch |
Vulcan Value Partners - Small Cap C.T. Fitzpatrick | “PROG's stock experienced a significant decline following the liquidation of Big Lots, one of its primary retail partners. The manager believes the resulting share price drop vastly overstates the actual operational impact on origination volumes. The company is expected to offset these losses via customer acquisition and expansion of existing partnerships.” | BULL | Q1 2025 Mar 31, 2025 | View Pitch |
Vulcan Value Partners - Large Cap C.T. Fitzpatrick | “PROG Holdings offers lease-to-own financing solutions to retailers and non-prime consumers. While rising interest rates originally drove elevated write-offs, management's tightened underwriting standards have brought write-offs back to target ranges. The company's short-duration financing model produces substantial free cash flow, making it well-positioned for a weaker credit environment.” | BULL | Q2 2023 Jun 30, 2023 | 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.
