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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Sep 21, 2025 | Meditation Capital | - | - | FLYW | customer retention, products, software, switching costs, valuation | The commentary centers on investing in companies with exceptional products, high customer satisfaction, and strong switching costs. Management emphasizes slack in business models, where firms overinvest in R&D and customer support to build durable long-term value. Valuation discipline paired with product excellence drives asymmetric return potential. | FLYW BRZE GTLB MNDY |
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| 2025 Q1 | Apr 24, 2025 | Prosper Stars & Stripes | -9.7% | -9.7% | AMSC, COLD, FLYW, FTRE, HELE, KRMN, MTLS, NSIT, PYCR, RGEN, SARO, TLN, TRS, XMTR | - | View | ||
| 2024 Q1 | Apr 15, 2024 | TimesSquare Capital Management U.S. Small Cap Growth Strategy | 6.2% | 0.0% | ASND, BJ, BOOT, EME, ESAB, FLYW, FROG, KRYS, MTDR, ONTO, PRA, RAPT, SMAR, SWAV, VCTR, VERX, WING, WNS | - | View | ||
| 2025 Q4 | Mar 4, 2026 | Voss Value Fund | -2.1% | -3.7% | CHH, CLBT, FLYW, PAR | AI, Automation, Hotels, small cap, software, technology, value | AI emergence has created market hysteria and broad software sell-offs despite limited real-world automation success. Software companies are actually the fastest AI adopters and possess structural advantages through engineering talent, proprietary data, and mission-critical systems. Dominant vertical software platforms that successfully integrate AI can thrive by fending off AI-native startups. Market treating software as monolithic despite meaningful differentiation between companies. Incumbents with domain expertise, proprietary data, and embedded workflows maintain competitive advantages. AI adoption accelerating among software firms while broader corporate adoption remains slow, creating opportunities for established players. Choice Hotels trading at distressed multiples due to cyclical headwinds but shifting portfolio toward higher-margin segments like Extended Stay and international markets. Company positioned to unlock significant balance sheet cash for share buybacks at historically low valuations with multiple re-rating catalysts. | View | |
| 2025 Q4 | Mar 4, 2026 | Voss Value Offshore Fund | -2.2% | -4.4% | CHH, CLBT, FLYW, PAR | AI, Franchising, Hotels, small cap, software, technology, value | AI emergence has created market hysteria and broad software sell-offs despite limited real-world automation success. The manager believes software incumbents with domain expertise and proprietary data are well-positioned to integrate AI capabilities and defend against AI-native startups. Current AI adoption remains slow across corporate world with meaningful efficiency gains still limited. Software sector faces significant overweight headwinds despite being cheaper than traditional value industrials. Market treating software as monolithic despite meaningful differences between companies. Incumbents possess structural advantages through engineering talent, proprietary data, and customer relationships that position them to successfully integrate AI capabilities. Choice Hotels represents asset-light, high-margin hotel franchisor trading at distressed multiples due to cyclical headwinds. Company shifting portfolio toward higher-revenue segments including Extended Stay and international expansion. Significant cash unlock potential from balance sheet optimization could enable opportunistic share buybacks at historically low valuations. | View | |
| 2025 Q1 | Mar 31, 2025 | Carillon Eagle Small Cap Growth Fund | - | - | AAON, ANF, ARIS, FLYW, PCVX, PTGX, RBA, SHAK, SWTX | - | View | ||
| 2025 Q4 | Feb 22, 2026 | City Different Investments – Multi-Cap Core | 2.8% | 18.1% | AMG, APG, CHTR, FLYW, GILD, GOOGL, KMX, LOPE, META, MSFT, NFLX, SBUX, SCHW, TGT, TMO | Behavioral, Diversified, long-term, multi-cap, value | Mature (Value) businesses led performance in the fourth quarter and were the strongest contributors for the full year, reflecting durable execution in companies that continued to generate healthy free cash flow and return capital. | FLYW |
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| 2025 Q4 | Feb 17, 2026 | AMG GW&K Small Cap Core Fund | 3.5% | 7.2% | AEIS, AGIO, CIFR, CSWI, CVLT, DAVA, DSGX, FLYW, GMED, HUT, INTA, ITT, MTSI, PAR, QBTS, RARE, RBC, SATS, SF, SKY, SLG, SPXC, STRL, SUPN, THR, VIAV, WULF | healthcare, industrials, materials, Quality, small caps, technology, Trade Policy, value | The Russell 2000 Index delivered 12.8% returns for 2025 despite significant volatility, with a 23% drop by April followed by a 40% recovery. The small cap environment was characterized by narrow performance driven by low-quality, speculative stocks, with the top 25 contributors delivering over 50% of benchmark returns. The investment environment overwhelmingly favored lower quality stocks, with non-earners gaining 19.6%, negative equity stocks up 37.2%, and highest beta names advancing 26.1%. The fund's deliberate focus on higher-quality stocks with earnings support was a general headwind throughout the year. Artificial intelligence investment was a key area of market focus during 2025, though the fund questioned when investors would see returns from billions of dollars spent on AI infrastructure. The fund avoided speculative AI plays in favor of companies with more established fundamentals. Uncertain trade policy and the friction it added to the system was the biggest distraction during 2025. Companies now mostly have a sense of the rules of global trade and are adjusting, which could provide more stability going forward. | View | |
| 2023 Q4 | Dec 31, 2023 | Alger Weatherbie Specialized Growth Fund | 5.8% | 9.5% | ACAD, CLB, FLYW, NTRA, STEP, VERX | - | View | ||
| 2023 Q4 | Dec 31, 2023 | TimesSquare Capital Management U.S. Small/Mid Cap Growth Strategy | 5.9% | 5.9% | BJ, FIVE, FLYW, PRA, RAPT, VC, WK, WNS | - | View | ||
| 2023 Q4 | Dec 31, 2023 | TimesSquare Capital Management U.S. Small Cap Growth Strategy | 6.2% | 0.0% | ATGE, ATRC, BJ, FLYW, HLNE, PRA, VC, WING | - | View | ||
| 2025 Q3 | Nov 25, 2025 | Voss Value Fund | 5.0% | -1.7% | CLBT, EEFT, FIVN, FLYW, PRKS, XPOF | cyclicals, dispersion, Fintech, software, value | Voss highlights extreme market bifurcation, with speculative AI-linked names soaring while quality and value factors experience severe drawdowns. The strategy focuses on mispriced cash-generative businesses suffering from sentiment-driven dislocations despite stable fundamentals. Value remains compelling as dispersion widens and revenue revision cycles eventually normalize. | CLBT FLYW PRKS XPOF EEFT CVNA |
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| 2025 Q3 | Nov 25, 2025 | Voss Value Offshore Fund | 4.9% | -2.3% | CLBT, EEFT, FIVN, FLYW, PRKS, XPOF | CashFlow, momentum, revisions, underperformance, value | Same themes as the onshore fund: severe factor divergence, mispriced durable cash-flow businesses, and opportunities created by market overreactions to decelerating revenue. The fund stresses patience as half its portfolio trades at all-time low valuations despite intact long-term theses. Value remains attractive amid extreme momentum-driven rotations and AI-induced distortions. | CLBT FLYW PRKS XPOF EEFT FIVN |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Mar 16, 2026 | Substack | Voss Capital | Flywire | Financial Services | Information Technology Services | Bull | NASDAQ Stock Market | Education, Flywire, global payment capabilities, growth trajectory, healthcare, payments industry, processing fees, switching costs, Travel, valuation | View Pitch |
| Feb 26, 2026 | Fund Letters | Rob MacDonald | Flywire Corporation | Software & Services | Data Processing & Outsourced Services | Bull | NASDAQ | Crossborder, Education, network, Payments, platform, Receivables, Reconciliation, Software, Travel, Tuition | View Pitch |
| Jan 8, 2026 | Fund Letters | Timothy Liu | Flywire Corp. | Information Technology | Data Processing & Outsourced Services | Bull | NASDAQ | Crossborder, Education, growth, Payments, Stickiness | View Pitch |
| Jan 8, 2026 | Value Investors Club | beethoven | Flywire Corporation | Financials | Banks | Bull | NASDAQ | banking, Credit, Deposits, financial services, Interest rates, Lending | View Pitch |
| Nov 28, 2025 | Fund Letters | Travis Cocke | Flywire Corp | Information Technology | Systems Software | Bull | NASDAQ | B2b, Education, growth, healthcare, Margins, Payments, Software, takeover, Travel, valuation | View Pitch |
| Nov 28, 2025 | Fund Letters | Travis Cocke | Flywire Corp | Information Technology | Systems Software | Bull | NASDAQ | B2b, Education, growth, healthcare, Margins, Payments, Software, takeover, Travel, valuation | View Pitch |
| Sep 16, 2025 | Short Thesis | The Bear Cave | Flywire Corp | Information Technology | Data Processing & Outsourced Services (Payment Solutions) | Bear | NASDAQ | Competition, Education, FX, Payments, Take-rates | View Pitch |
| Sep 1, 2025 | Substack | Voss Capital | Flywire Corporation | Technology | Software - Infrastructure | Bull | education payments, Flywire, Free Cash Flow, incremental EBITDA margins, operating leverage, regulatory headwinds, Sertifi acquisition, Student Financial Services, travel and B2B growth, UK market expansion | View Pitch | |
| Aug 8, 2025 | Seeking Alpha | Voss Capital | Flywire Corporation | Information Technology | Software - Infrastructure | Bull | NasdaqGS | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Voss Capital | Flywire | Information Technology | Software - Infrastructure | Bull | NASDAQ | — | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||