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 |
|---|---|---|---|---|
PM Capital Global Companies Fund Paul Moore | “Copper holdings Freeport McMoRan, Teck Resources and Grupo Mexico each reached new all-time highs during the quarter, buoyed by the ongoing strength in the copper price. We actively reduced our exposure through both outright sales and sold call options. While copper market fundamentals remain strong and we continue to hold a favourable long term view, the decision to reduce our exposure was driven by valuation. Copper has been a core holding in the portfolio since 2020. During COVID, the metal was deeply out of favour, with the COMEX copper price falling to US$2.17/lb - close to the marginal cost of production and well below the level we believed was required to encourage new greenfield supply. Today the market looks very different. New demand drivers coupled with a tight supply picture looking out over the next decade has put copper front and centre as a must own commodity for investors. COMEX is up nearly 2x from its 2020 lows while Freeport McMoRan and Teck Resources are up 10x and 8x respectively. While we continue to see attractive long-term fundamentals, much of that optimism is now reflected in valuations.” | NEUTRAL | Q2 2026 Jul 29, 2026 | View Pitch |
PM Capital Global Companies Fund Paul Moore | “In early September Teck Resources and Anglo American announced a merger of equals that would create the world's fifth-largest copper miner. Benefits include the ability to integrate Teck's Quebrada Blanca II (QBII) with Anglo's neighbouring Collahuasi mine. Synergies would be realised by depositing Collahuasi's high grade ore through both its existing processing circuit and QBII newly constructed infrastructure. Shareholders approved the deal in December and completion is expected in the coming months. The combined group will have one of the most premier copper portfolios globally. BSD Analysis: Teck Resources delivered a standout performance in early 2026, with earnings per share significantly exceeding expectations at 1 dollar per share. The company's financial health is robust, characterized by a low debt-to-equity ratio of 0.15 and a strong current ratio that indicates excellent liquidity. The centerpiece of the investment thesis is the strategic merger with Anglo American, which aims to create a global critical minerals champion with a top-five position in the copper market. Shareholders have overwhelmingly supported this move, which has already cleared key regulatory hurdles under the Investment Canada Act. With a market capitalization of 29 billion dollars and high visibility into copper production from the Quebrada Blanca site, Teck is ideally positioned for future growth. The company offers a high-quality combination of operational excellence and transformational M&A potential.” | BULL | Q4 2025 Dec 31, 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.
