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 |
|---|---|---|---|---|
FPA Queens Road Small Cap Value Fund Steve Scruggs | “Arrow Electronics is a global supply chain distributor of semiconductors and enterprise computing solutions. Representing an average trailing weight of 3.10%, the company remains a substantial holding that the fund trimmed on cyclical strength. Arrow operates in an entrenched duopoly alongside Avnet, maintaining scale advantages, global logistics infrastructure, and strong working capital management. Despite cyclical swings in chip demand, the business generates exceptional cash flow. Management used previous cyclical cash flow windfalls to retire roughly one-third of its share base between 2020 and 2023. With adjusted earnings per share more than doubling out of the cyclical bottom and the stock trading at approximately 11 times earnings, valuation remains highly attractive. Primary catalysts comprise semiconductor demand recovery across industrial end markets and accretive share repurchases. Potential downside risks stem from cyclical inventory corrections, trade barriers, and component margin compression.” | BULL | Q3 2026 Oct 14, 2026 | View Pitch |
FPA Queens Road Small Cap Value Fund Steve Scruggs | “Arrow Electronics (ARW) is the largest semiconductor distributor globally. Arrow is larger with better financials than its closest competitor Avnet (AVT) and these companies produce a lot of cash despite some cyclicality. Arrow used its strong cash flows during the Covid component shortages (2020 through 2023) to retire roughly one-third of its outstanding shares. A year ago, Arrow was suffering from a cyclical trough and the Trump tariffs. But the industry has come roaring back and in its Q1 earnings release on May 7, ARW reported 39% YoY earnings growth and more than doubled its adjusted EPS. We have been trimming our position, but the stock trades at ~10x forward earnings and we still hold a substantial position.” | NEUTRAL | Q2 2026 Aug 12, 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.