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 |
|---|---|---|---|---|
Artisan International Fund Mark L. Yockey | “ServiceTitan is a leading vertical software provider serving trade businesses, with key end markets in plumbing, HVAC and electrical contracting. Shares underperformed as the broader software sector f” | BULL | Q1 2026 Apr 18, 2026 | View Pitch |
Artisan Global Discovery Jason White | “ServiceTitan is a leading provider of vertical software solutions for the trades, including plumbing, HVAC and electrical. Its platform supports the entire workflow from lead generation to payment, generating revenue through subscriptions and usage-based processing. We see meaningful growth opportunities through new customer acquisition, upselling and expansion into additional trades. During the quarter, we increased our position following a pullback amid broader weakness in the software industry, reflecting our conviction in the durability of its profit cycle. BSD Analysis: ServiceTitan is the leading end-to-end software platform for the trades, successfully digitizing high-growth industries like HVAC, plumbing, and electrical services. The 2026 investment thesis is anchored by the company's 25% annual revenue growth and its expanding ecosystem of fintech products, including integrated payment processing and financing. While the firm is still in its investment phase, it is demonstrating significant operating leverage with a marked narrowing of trailing net losses. Its massive user base and high switching costs create a durable recurring revenue stream that is largely insulated from macroeconomic downturns. For 2026, the potential for ServiceTitan to achieve free cash flow positivity for the first time marks a major turning point for the stock's valuation. As more field service businesses move toward digital transformation, ServiceTitan's role as the operating system for the trades provides a long and clear runway for market share expansion.” | BULL | Q4 2025 Jan 27, 2026 | View Pitch |
Artisan Mid Cap Fund Matt Kamm, Jason White, Jim Hamel, Angela Wu, Jay Warner | “We also added to ServiceTitan, MongoDB and Waters during the quarter. ServiceTitan is a leading provider of vertical software solutions for the trades, including plumbing, HVAC and electrical. Its platform supports the entire workflow from lead generation to payment, generating revenue through subscriptions and usage-based processing. We see meaningful growth opportunities through new customer acquisition, upselling and expansion into additional trades. During the quarter, we increased our position following a pullback amid broader software industry weakness, reflecting our conviction in the durability of its profit cycle. BSD Analysis: ServiceTitan owns the operating system for plumbers, electricians, and contractors — the kind of businesses tech usually ignores. Once installed, the software becomes mission-critical, running scheduling, billing, and customer management. The market is fragmented, underpenetrated, and ripe for digitization. Growth has been strong, but profitability is still down the road due to heavy investment. The real value lies in pricing power as customers scale on the platform. Churn is low because ripping out core business software is painful. Execution risk is about balancing growth and discipline. This is vertical SaaS with real-world grit. If margins inflect, the rerate could be sharp.” | BULL | Q4 2025 Jan 15, 2026 | View Pitch |
Madison Mid Cap Fund Haruki Toyama, Andy Romanowich, Rich Eisinger | “ServiceTitan is the dominant provider of software to residential trade contractors. Its software helps run all aspects of their business and the company boasts high retention rates and strong recurring revenue. We see a long runway of growth ahead as penetration among contractors has lagged other industries. Investor caution regarding near-term growth rates provided us with a buying opportunity. BSD Analysis: ServiceTitan provides operating software for trade contractors who run real businesses, not side hustles. Once installed, the platform becomes the system of record for scheduling, billing, and customer management. Growth remains strong because penetration is still low. Contractors value ROI over software aesthetics. Investors worry about valuation more than adoption momentum. Pricing power improves as features expand and workflows deepen. Vertical focus creates stickiness generic SaaS can't replicate. Margins scale as customer cohorts mature. This is vertical software built for blue-collar cash flow.” | 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.
