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 |
|---|---|---|---|---|
Merion Road Capital Aaron Sallen | “During the quarter I re-established a position in Victory Capital (“VCTR”). VCTR has closed their acquisition of the Amundi US business and now boasts over $300bn in assets under management. Net flows for the acquired business were positive in 2024 and for 2025 YTD. On a consolidated basis, there is upside to flows should VCTR be able to realize the immense cross-selling opportunity at hand. As a reminder Amundi globally manages over $2 trillion in assets, has a 15-year distribution agreement with VCTR, and economic exposure to VCTR with ownership of 23mm equivalent shares (worth about $1.5bn). Management increased their cost synergy target to $110mm and have historically exceeded their guidance. I believe that the company can achieve at least $7.00 / share next year in free cash flow, putting them at about 9x. This level is at a discount to comparable asset managers and does not give the company credit for operational upside and strong capital allocation. BSD Analysis: Victory Capital's acquisition of Amundi US is strategically accretive, adding scale and distribution reach. Positive fund flows and rising synergy targets strengthen earnings visibility. With a 9x FCF multiple and strong balance sheet, VCTR is attractively valued versus peers. Its buyback program and cross-selling optionality provide additional upside, positioning it well for margin expansion and multiple re-rating.” | BULL | Q3 2025 Oct 1, 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.
