Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2023 Q3 | Sep 30, 2023 | Baird Small/Mid Cap Growth Equity Fund | -8.9% | 2.8% | BJ, CHDN, CHPX, CNMD, CWAN, FIVE, FND, FOUR, INSP, KNSL, LFUS, LGIH, MTDR, MTZ, PODD, RBC, SAM, SWAV, TTC, WSC | consumer, growth, healthcare, industrials, inflation, rates, small caps, technology | GLP-1 drugs emerged as a solution for obesity and reducing long-term cardiovascular risks, leading to sharp negative reactions across the medical equipment industry. The market views it as a zero-sum game with inevitable shrinkage of addressable markets for diabetes and sleep apnea devices. | View | |
| 2025 Q2 | Aug 4, 2025 | Baird Small/Mid Cap Growth Equity Fund | 4.5% | -6.6% | ADMA, ALAB, ALHC, BJ, BMI, BOOT, BRBR, BWXT, CASY, CAVA, CHDN, COCO, CWAN, DKNG, DSGX, ELF, EQH, EXLS, FDS, FND, FOUR, FSS, GLOB, HLI, HQY, INSM, INSP, KAI, KNSL, LII, MANH, MKTX, MNDY, MTSI, NBIX, ONTO, PODD, PSTG, SPSC, SRPT, SSD, TARS, TECH, TREX, ULS, VERX, WAY, WSC, WSO, XPEL | AI, Biotech, growth, healthcare, semiconductors, small cap, technology, underperformance | The benchmark's rally was led by companies with AI-exposure that drove rapid multiple expansion. The portfolio underperformed due to underexposure to more speculative AI areas including small cap semiconductors and AI-hardware. Defensive positions with minimal AI-exposure were the largest detractors to relative performance. | View | |
| 2025 Q2 | Aug 4, 2025 | ClearBridge Mid Cap Growth Strategy | - | - | APP, AXON, COR, CVNA, FIX, FOUR, HLT, HWM, LNW, MELI, NET, NU, PLTR, PSTG, RBLX, RCL, RUBK, TW, VST, WING | AI, consumer discretionary, growth, mid cap, Rate Cuts, tariffs, technology | Continued demand for AI drove market performance with heightened attention to security and data center buildouts. The AI ecosystem remains short power with companies like Vistra positioned to deliver at meaningful premiums. The team is actively determining relative winners of the AI investment cycle. | View | |
| 2025 Q2 | Aug 27, 2025 | ClearBridge Investments Mid Cap Growth Strategy | - | - | APP, AXON, COR, CVNA, FIX, FOUR, HLT, HWM, LNW, MELI, NET, NU, PLTR, PSTG, RBLX, RBRK, RCL, TW, VST, WING | AI, consumer discretionary, financials, growth, industrials, mid cap, technology | Continued demand for AI drove market performance with heightened attention to security and data center buildouts. The AI ecosystem remains short power with companies like Vistra positioned to deliver at meaningful premiums. The team is actively determining relative winners of the AI investment cycle. | CVNA VST MELI TW AXON PLTR |
View |
| 2024 Q2 | Jul 8, 2024 | Manole Capital Management | 0.0% | 0.0% | FOUR, NVEI, SQ | Fed policy, Fintech, inflation, Interchange, M&A, payments | The manager discusses a $30 billion interchange settlement affecting Visa and Mastercard, with reduced fees primarily impacting card issuers rather than the networks. New merchant steering and surcharging rights are introduced, though implementation challenges are expected. | View | |
| 2025 Q2 | Jul 20, 2025 | BBH Select Series – Mid Cap Fund | 5.4% | -0.9% | ANET, ATR, BRKR, BRO, CBRE, DAR, ENTG, FOUR, GFL.TO, GLOB, GWRE, GXO, HEI, ICLR, LPLA, TTWO, ULS, VMC, WH, WMS, WSO | healthcare, industrials, mid cap, payments, software, tariffs, technology | Several technology and healthcare companies were impacted by tariffs and academic and life science funding cuts. The magnitude of proposed tariffs and funding cuts have been greater than anticipated, with companies like Globant seeing Latin American clients pause projects due to tariff uncertainty. The fund exited positions in Toro and Crown Holdings due to heightened tariff risks. | GLOB WSO FOUR GWRE |
View |
| 2024 Q1 | Jun 30, 2024 | Adestella Investment Management | 11.7% | 11.7% | FOUR | Long/Short, payments, Portfolio Management, small cap, value | Shift4 Payments represents a compelling investment opportunity trading at 9.5-10x EBITDA despite 25%+ organic growth. The company has grown payment volume and revenue by double-digits every year for 24 years and operates across restaurant, hospitality, and sports & entertainment verticals with strong competitive moats. | FOUR |
View |
| 2025 Q1 | Apr 5, 2025 | ClearBridge Investments Small Cap Growth Strategy | - | - | ARCH, BJ, CNMD, CWAN, ELF, FOUR, GERN, GKOS, GLBE, HE, HIMS, INTA, ITCI, KVYO, PYCR, RBC, RKLB, TNC, VRNS, WIX | AI, Biotech, growth, small cap, stock selection, Trade Policy, volatility | The DeepSeek model architecture caused investors to question potential returns on investment and monetization of generative AI initiatives, leading to air coming out of the sector-crossing narrative and investment tailwind around generative AI. The combination of concerns around AI reporting precipitated a meaningful pullback in stocks. | GERN HIMS ARCH RKLB GKOS |
View |
| 2026 Q1 | Apr 25, 2026 | Wasatch Small Cap Growth Strategy | - | - | AGYS, CAMT, ECG, FOUR, NVMI, VITL | AI, growth, small caps, software, technology | ECG CAMT NVMI VITL AGYS FOUR |
View | |
| 2026 Q1 | Apr 22, 2026 | Baird Small/Mid Cap Growth Equity Fund | -4.8% | -4.8% | ADMA, AFRM, ALGN, BMI, BRBR, BSX, BURL, CASY, CRBG, CROX, DHR, DXCM, ELF, EQH, EXAS, FIX, FN, FND, FOUR, FTAI, HLI, HUBB, ILMN, INSP, JBL, KNSL, KTOS, LFUS, LII, MASI, MTDR, NSA, PEN, PODD, PSA, RGEN, SOFI, TMDX, TTAN, TWST, VSCO, WWD, XPO | AI, defense, growth, healthcare, industrials, semiconductors, small caps, technology | View | ||
| 2025 Q1 | Mar 31, 2025 | BBH Select Series – Mid Cap Fund | -6.0% | -6.0% | ANET, ATR, BRKR, BRO, CBRE, DAR, ENTG, FOUR, GFL, GWRE, GXO, HEI.A, ICLR, LPLA, TTWO, VMC, WH, WMS, WSO, ZBRA | industrials, insurance, mid cap, software, technology, Testing, value | The fund benefits from exposure to property & casualty insurance through Brown & Brown and Guidewire Software. Brown & Brown delivered strong organic growth of 13.8% and continues to benefit from the current inflationary environment and hard insurance premium rate cycle. Guidewire benefits from increasing gross written premiums as insurance rates rise due to inflation and limited capacity. | KEYS ULS |
View |
| 2025 Q1 | Mar 31, 2025 | Forager International Shares Fund | -3.0% | -3.0% | 4733.T, CAT, CLH, CRH, CROX, FI, FLTR.L, FOUR, INGA.AS, JD.L, LLOY.L, MOTR.L, NUTX, NXT, YETI, ZBRA | Cash, deployment, Europe, healthcare, small cap, tariffs, volatility | Trump's erratic tariff measures represent the largest upheaval to global trade since the Second World War. The unstructured, ad-hoc calculations behind which country gets whacked with what tariffs have erased confidence that there is a grand strategy in mind. These tariffs represent an enormous tax on already-struggling US consumers and are likely to cause a recession. | NUTX |
View |
| 2024 Q1 | Mar 31, 2024 | Baird Small/Mid Cap Growth Equity Fund | 1.9% | 1.9% | BOOT, BROS, BSY, BWXT, CELH, CHDN, CNMD, CWAN, DAVA, DECK, DT, EXAS, FIVE, FOUR, GLBE, GLOB, GXO, HALO, ICLR, INSP, KAI, KNSL, KNX, LFUS, LGIH, LSCC, LW, MNDY, MSTR, MTDR, ONTO, PCOR, PEN, PODD, QDEL, RGEN, SAM, SITM, SMCI, SMPL, SWAV, TARS, TECH, TREX, VITA, WNS, WSO, XPEL | AI, growth, healthcare, Performance, semiconductors, small cap, technology | AI spending expectations drove significant outperformance in technology stocks, particularly benefiting companies like Super Micro Computer which investors view as the next Nvidia. The fund has limited direct AI exposure through Lattice Semiconductor and has not reached comfort levels on sustainable AI impact for many benchmark holdings. AI headwinds affected both technology and industrial sectors as datacenter and semiconductor manufacturing equipment companies saw outsized gains. | View | |
| 2025 Q4 | Feb 3, 2026 | Baird Small/Mid Cap Growth Equity Fund | 1.2% | -8.5% | ABT, AFRM, BOOT, BRBR, BROS, BURL, BWXT, CASY, CHDN, COCO, CRDO, CW, DKNG, DT, ELF, EME, EXAS, FOUR, GKOS, KTB, LII, MASI, MNDY, MTSI, PEN, PODD, RGEN, RKLB, TARS, TWLO, ULS, VERX, WAY, WSO | AI, defense, growth, healthcare, mid cap, semiconductors, small cap, technology | The extended federal government shutdown added volatility during what was otherwise a risk-on environment, with a mid-quarter shift in market behavior for AI-related equities as the exuberant narrative evolved to one more balanced in assessing the technology's enormous potential against staggering capital spending plans and high expectations. The team initiated a position in Credo Technology as a more diversified way to gain exposure to strong trends in AI-connectivity. MACOM Technology Solutions rose nearly +40% as the company experienced broad-based demand, similar to many semiconductor companies in 2025. The team exited Astera Labs following industry conference presentations that suggested emerging competitive risks and concerns over single customer concentration, while initiating a position in Credo Technology for AI-connectivity exposure. Healthcare was the strongest relative contributor in the quarter with holdings increasing nearly +16% compared to benchmark returns of roughly +12%. Exact Sciences was acquired for a significant premium by Abbott Laboratories resulting in an +86% return, while other strong performers included Tarsus Pharmaceuticals, Glaukos following approval of a new product, Penumbra, and Repligen driven by strong earnings results. The team initiated a position in Curtiss-Wright, believing the company is entering a period where multiple near-term growth drivers are converging, including rising defense budgets, commercial aerospace production ramps, nuclear power plant life extensions and new builds, and submarine production. EMCOR Group was initiated as a new position, viewed as a critical contractor enabling multi-year investment cycles across data centers, semiconductor fabrication, electrification, and broader infrastructure modernization. Its decentralized, cash-generative model, recurring service base, and exposure to structural growth drivers create a profile viewed as more durable than a typical cyclical contractor framework. | View | |
| 2025 Q4 | Feb 10, 2026 | Wasatch Global Select Strategy | 0.0% | 0.0% | FOUR, RBC, TREX | fundamentals, global, Japan, Quality, small caps, technology, underperformance, Valuations | The strategy focuses on high-quality businesses with high levels of ROA and ROE, and a track record of durable earnings growth. Despite underperformance in 2025, the managers remain committed to avoiding speculative companies and maintaining their quality discipline. Portfolio fundamentals remain solid with consistent earnings growth. AI emerged as a popular investment theme that drove performance in speculative small cap companies during 2025. The strategy avoided many AI-related stocks due to quality concerns. However, some holdings like ASPEED Technology benefited from increased demand for server-management chips driven by AI workloads. | RBC WEGE3 BZ FOUR TREX 6532 JP |
View |
| 2024 Q3 | Dec 31, 2024 | Adestella Investment Management | 1.4% | 9.3% | EVO.ST, FOUR, NBIS, PRKS, PSIX, UFPT | AI, edge, international, small caps, Structural Advantages, value | Manager emphasizes structural advantages of targeting under-the-radar small-cap opportunities, noting that while large-caps have outperformed for nearly two decades, cheaper valuations and longer compounding runways historically led smaller firms to superior performance over 80+ years prior to 2007. Current portfolio includes sub-$500M companies like Power Solutions International trading at attractive multiples. | NBIS EVO.ST PSIX |
View |
| 2023 Q4 | Dec 31, 2023 | Baird Small/Mid Cap Growth Equity Fund | 7.8% | 10.9% | BJ, BOOT, BSY, BWXT, COCO, CWAN, DAVA, DECK, DSGX, DT, EXLS, FIVE, FND, FOUR, GLOB, GNRC, GTLS, HALO, IEX, INSP, KAI, KNSL, LGIH, LSCC, LW, MTZ, NEO, NSA, PCTY, PODD, POOL, PTC, PWSC, RBC, RVNC, SAM, SWAV, TREX, TTC, TYL, WNS, WSO | financials, growth, healthcare, industrials, rates, small cap, technology | Lower-than-expected inflation report in late October led markets to declare an end to Fed tightening and begin discounting multiple rate cuts in 2024. Interest-rate-sensitive stocks rallied sharply late in the quarter, benefiting housing-related and financial stocks. The changed outlook on rates drove significant market movements throughout the quarter. | View | |
| 2025 Q3 | Nov 8, 2025 | Baird Small/Mid Cap Growth Equity Fund | -3.2% | -9.6% | AAON, ADMA, AFRM, ALAB, BMI, BOOT, BRBR, BROS, BURL, BWXT, CASY, CAVA, CLWD, COCO, DKNG, ELF, EXAS, FDS, FOUR, FSS, HLI, INSM, INSP, IONQ, LII, MASI, MKTX, MTSI, NBIX, PEN, PODD, QBTS, RGTI, SOFI, TARS, TTAN, TWLO, TXRH, WAY, WING, WSO | AI, growth, healthcare, momentum, Quality, semiconductors, small cap, software | AI enthusiasm drove significant benchmark outperformance through semiconductor and infrastructure plays, with quantum computing stocks adding over 2% to benchmark weight despite extreme valuations. The market's insatiable desire for AI beneficiaries created meaningful factor headwinds for the portfolio. | View | |
| 2024 Q3 | Oct 30, 2024 | Baird Small/Mid Cap Growth Equity Fund | 6.9% | 2.7% | AAON, ACLS, ALAB, APPF, BMI, BOOT, BROS, BSY, BURL, BWXT, CACI, CASY, CWA, CYBR, EXLS, FANG, FDS, FIVE, FND, FOUR, IEX, INSP, IRTC, JKHY, KAI, KNSL, LFUS, LGIH, LSCC, LW, MANH, MEDP, MNDY, NBIX, ONTO, PCOR, PODD, POOL, PRCT, RXST, SITM, SMPL, TARS, TREX, TYL, ULS, VNOM, WSC | financials, growth, healthcare, industrials, semiconductors, small caps, software, technology | The fund initiated a position in Astera Labs, a fast-growing and profitable developer of semiconductor products known as retimers that are key enablers of AI workloads and help prevent GPU bottlenecks. The manager believes this business adds further profitable AI-exposure to the portfolio. | View | |
| 2025 Q3 | Oct 28, 2025 | BBH Select Series – Mid Cap Fund | -0.9% | -1.8% | ANET, BFAM, BJ, BRKR, BRO, CBRE, ENTG, FOUR, GFL, GLOB, GWRE, GXO, ICLR, ITT, LPLA, TTWO, VMC, WMS, WSO, WST | AI, healthcare, mid cap, Quality, tariffs, technology, value | The fund has exposure to AI through companies like Arista Networks, which provides data center switches to cloud network and AI customers. Arista's AI revenue is targeted at $1.5 billion this year and expected to reach $2.75 billion next year, growing 60-70% and representing about 25% of revenue. The manager acknowledges enthusiasm for AI driving enormous capital expenditures in associated infrastructure while being cognizant of bubble-like behavior in certain segments. | BJ UN ITT UN BRKR UN GLOB UN FOUR UN WMS UN ANET UN BJ UN ITT UN BRKR UN GLOB UN FOUR UN WMS UN ANET UN |
View |
| 2025 Q3 | Oct 24, 2025 | Wasatch Long/Short Alpha Fund | -7.3% | - | ENSG, FN, FOUR, FRPT, HQY, INSP, KAI, MEDP, MORN, MPWR, OPEN, OZK, RBC, ROP, SG, WDAY | AI, Biotech, healthcare, Long/Short, Quality, risk-on, small cap, Speculation | The fund focuses on long positions in high-quality companies while shorting low-quality businesses. The manager emphasizes that high-quality stocks have historically outperformed over the long term despite recent underperformance. The fund screens companies based on financial characteristics like return on assets and operating profit margins. | View | |
| 2025 Q3 | Oct 20, 2025 | Marram Investment Management | - | 3.0% | FHN, FOUR, PYPL, RF | biopharma, Energy Infrastructure, financials, MLPs, payments, Regional Banks, technology | MLPs remain a cornerstone allocation at 26% NAV, down from peak of 42% in late-2021 due to harvested gains and M&A activity. Investments made in early 2020 during commodity volatility have benefited from geopolitical strife, inflation, and renewed recognition of fossil fuel limitations driving revaluation. | FOUR PYPL FOUR PYPL |
View |
| 2025 Q3 | Oct 20, 2025 | Wasatch Small Cap Growth Strategy | -3.7% | - | AGYS, BRBR, ENSG, FN, FOUR, HQY, INSP, MEDP, NVMI, OLLI, PCTY, PNFP, RBC, SHAK | AI, growth, Quality, semiconductors, small caps, technology, underperformance | The fund focuses on high-quality, long-duration growth companies while markets have favored low-quality stocks with speculative business models. The quality gap between fund holdings and the index is near its widest level in at least a decade based on return on assets metrics. | View | |
| 2024 Q4 | Jan 9, 2025 | ClearBridge Investments Small Cap Growth Strategy | - | - | AZPN, BE, CERT, CHX, CWAN, FLR, FOUR, MOD, OSCR, PCVX, SGRY, SHLS, TGTX, VIAV, VRNS, WING, WIX, XMTR, XPO, ZETA | AI, growth, healthcare, industrials, M&A, Onshoring, small caps, technology | The unprecedented infrastructure buildout to support generative AI ambitions drove accelerating growth and expanding multiples across multiple sectors. This enthusiasm expanded from AI/chips to data center buildouts, HVAC equipment, service providers, and power solutions to support electricity demands of this generational product cycle. | MOD FLR CWAN TGTX OSCR BE |
View |
| 2025 Q4 | Jan 30, 2026 | BBH Select Series – Mid Cap Fund | -3.9% | -5.6% | ANET, ATR, BJ, BRO, CBRE, DAR, ENTG, FOUR, GFL, GWRE, GXO, HEI.A, ICLR, ITT, KEYS, LPLA, MCW, NVR, TTWO, TW, ULS, VMC, WH, WMS, WSC, WSO, WST, ZBRA | AI, fundamentals, Intrinsic Value, mid cap, profitability, Quality, technology, value | AI-related demand is driving the fastest growth in Keysight's wireline business and represented approximately 10% of Keysight total revenue in 2025. The enthusiasm for artificial intelligence driving enormous capital expenditures in associated infrastructure has been a key catalyst for the low-quality rally. Keysight is extremely well positioned to benefit from ongoing technology innovation across the wireless, networking, and semiconductor markets. The fund focuses on high-quality, profitable companies and avoids speculative ventures. Portfolio companies have grown revenues and EBITDA by 10% and 11% over the last twelve months, respectively, compared to 5% and 4% for the Index. The portfolio enjoys superior operating margins and return on equity of 20% and 17%, compared to 12% and 15% for the Index. The fund was trading at 82% of underlying intrinsic value estimates on a weighted-average basis as of December 31, 2025. The manager seeks to invest at a discount to intrinsic value to establish a margin of safety and mitigate the potential for permanent capital loss. While willing to pay a reasonable valuation multiple premium for quality, the focus remains on attractive valuations. | GWRE FOUR KEYS DAR |
View |
| 2025 Q4 | Jan 24, 2026 | Greystone Capital | 0.3% | 2.8% | APG, BEL, DR.TO, FC, FOUR, KITS.TO, LMB, LNF.TO, LSPD.TO, NRP, SQ, SYZ, TOST, VYX | Buybacks, Coal, concentrated, E-Commerce, payments, small caps, value | Natural Resource Partners continues to benefit from global coal consumption reaching record highs of 8.8 billion tons in 2025. The royalty business model provides exceptional durability through various pricing environments while avoiding ongoing capital expenditures and high operating costs. KITS Eyecare represents a vertically integrated direct-to-consumer eyecare model with strong unit economics. The company has achieved product/market fit with favorable CAC/LTV ratios and continues to take share from traditional optometry and less integrated online competitors. Shift4 Payments operates as an integrated end-to-end payments business with deep industry knowledge across hospitality, restaurant, and stadium verticals. The company owns the gateway layer and full payment stack, enabling higher margins and stronger customer retention than commodity payment processors. Medical Facilities Corp has repurchased over 20% of shares outstanding through tender offers and open market purchases, reducing total shares by nearly 40% over four years. Management demonstrates disciplined capital allocation focused on maximizing per-share value. | FOUR DR CN APG KITS CN NRP |
View |
| 2025 Q4 | Jan 22, 2026 | Wasatch Small Cap Growth Strategy | 0.0% | 0.0% | FN, FOUR, FROG, RBC, TREX, VITL | AI, Biotechnology, growth, healthcare, Quality, small cap, technology, value | The strategy focuses on high-quality businesses with high ROAs and ROEs, and track records of durable earnings growth. Portfolio fundamentals remain solid with ROA and ROE well ahead of benchmark metrics. The managers avoid speculative companies and prefer proven earnings track records. The strategy's lack of exposure to biotechnology stocks was the primary driver of underperformance, as biotech soared nearly 27% in Q4. Managers avoid nascent biotech companies due to binary outcomes based on clinical trials, preferring healthcare companies with proven track records. Artificial intelligence was mentioned as one of the popular investment themes driving speculative small cap companies that the strategy avoided. AI workloads are driving demand for data center upgrades and faster communication standards. | RBC FN FROG TREX VITL FOUR |
View |
| 2025 Q4 | Jan 20, 2026 | Marram Investment Management | 0.0% | 4.0% | AVDX, BILL, FITB, FOUR, OKE, PAA, PAGP, PAY, PSFE, PYPL | Banking, biopharma, cash flow, energy, payments, value | Payment technology businesses experiencing disconnect between operating fundamentals and share price performance. Companies continue to compound value per share despite valuation compression and shareholder turnover. Manager rebalanced allocation by exiting some positions and concentrating in higher-conviction holdings at lower prices. Energy infrastructure companies with indispensable assets benefiting from geopolitical strife, inflation, and increased recognition of renewable energy limitations. MLPs remain cornerstone allocation with favorable industry demand dynamics, stable cash flows, conservative balance sheets, and inflation protection. Large regional banks purchased during March 2023 banking crisis at fire-sale prices have generated 30%+ IRR. Manager continues to view sector favorably for steady 10%+ annual profits but has prudently moderated exposure due to expanded valuations and gradually easing credit underwriting standards. Sector out of favor due to political factors leading to lower industry R&D spend. Manager believes society will continue to need new drugs and health innovations, expecting capital to return and R&D spend to reaccelerate. Initiated diversified basket allocation via ETFs and service-based businesses. | View | |
| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments Small Cap Growth Strategy | 0.0% | 0.0% | ALGM, ANF, BJ, CVGW, CYRX, ENV, EYE, FOUR, FOXF, FTAI, HLNE, INTA, KVYO, MPWR, OS, PJT, TREX, VRNS, WTFC, ZETA | Biotechnology, consumer, Fed Cuts, financials, growth, Rotation, small caps, software | Small cap stocks snapped an unprecedented losing streak versus large caps in Q3, with the Russell 2000 Growth Index up 8.41%. The rotation was initially catalyzed by higher Trump election odds and cooling inflation data supporting Fed rate cuts. Historically rate cuts have been positive for small caps, and with earnings growth for smaller caps set to eclipse large caps over the next two years, coupled with historic lows in relative valuations, conditions are aligning for better asset class performance. | View | |
| 2023 Q4 | Jan 13, 2024 | ClearBridge Investments Small Cap Growth Strategy | 0.0% | 0.0% | BLKB, CHX, EYE, FOUR, FOXF, IBP, LSCC, MIRM, MPWR, NARI, NVDA, SILK, SMCI, STAA, TREX, VRNS, WHD, WING, WMT | AI, Biotech, growth, healthcare, industrials, M&A, small cap, technology | Generative artificial intelligence captured significant attention with OpenAI's ChatGPT driving massive investment in rival models and infrastructure build in data centers and GPU-heavy AI servers. Public market capital chased AI beneficiaries while selling perceived disrupted businesses, with most significant winners in large cap universe. | IBP MIRM BLKB NARI |
View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Wasatch Small Cap Growth Strategy | Shift4 Payments, Inc. | Software - Infrastructure | Data Processing & Outsourced Services | Bull | New York Stock Exchange | Acquisitions, AI disruption, Competitive Moats, Fintech, Lodging, payment processing, Restaurant, Software | View Pitch |
| Apr 13, 2026 | Fund Letters | BBH Select Series - Mid Cap Fund | Shift4 Payments Inc | Information Technology | Data Processing & Outsourced Services | Bull | NYSE | Cross-sell, Free Cash Flow, hospitality, international expansion, Payments processing, tax-free shopping, volume growth | View Pitch |
| Apr 13, 2026 | Fund Letters | Adestella Investment Management | Shift4 Payments | Information Technology | Data Processing & Outsourced Services | Bull | NYSE | Catalyst, founder-led, hospitality, M&A, payment processing, POS Systems, Restaurant technology, Roll-up Strategy, SaaS, sports entertainment, Value | View Pitch |
| Apr 4, 2026 | Substack | Pound the Rock Investing | Shift4 Payments | Financial Technology | Payments Processing | Bull | New York Stock Exchange | Adjusted EBITDA growth, asymmetric return, Free Cash Flow, Global Blue acquisition, hospitality payments, integrated payments, Jared Isaacman, payments sector, Shift4 Payments, Undervalued Stock | View Pitch |
| Mar 16, 2026 | Substack | Coughlin Capital | Shift4 Payments, Inc. | Financial Services | Payments | Bull | New York Stock Exchange | buybacks, EBITDA margins, free cash flow yield, Global Blue acquisition, international expansion, Luxury Brands, market sentiment, payments industry, revenue synergies, Shift4 Payments | View Pitch |
| Mar 16, 2026 | Substack | Modern Value Investing | Shift4 Payments | Financial Technology | Payment Processing | Bull | New York Stock Exchange | acquisition strategy, Fintech, Free Cash Flow, Global Blue, integrated solutions, international expansion, margin expansion, payment processing, Share Buyback, SkyTab | View Pitch |
| Feb 21, 2026 | Fund Letters | Mick Rasmussen | Shift4 Payments, Inc. | Financials | Transaction & Payment Processing Services | Bull | New York Stock Exchange | Fintech, growth, hospitality, Payments, Recurring | View Pitch |
| Feb 18, 2026 | Substack | Coughlin Capital | Shift4 Payments, Inc. | Financial Services | Payment Processing | Bear | New York Stock Exchange | accounting practices, acquisition strategy, buyback authorization, Four, Free Cash Flow, Governance, insider buying, Michael Burry, Shift4 Payments, valuation | View Pitch |
| Feb 4, 2026 | Fund Letters | Tim Harris | Shift4 Payments Inc. | Financials | Transaction & Payment Processing Services | Neutral | New York Stock Exchange | buybacks, consumer spending, hospitality, Payments, Sentiment | View Pitch |
| Feb 4, 2026 | Twitter / X | @FundasyInvestor | Shift4 Payments, Inc. | Financial Services | Data Processing & Outsourced Services | Bull | New York Stock Exchange | Accounting, Acquisitions, Amortization, buybacks, EBITDA, leverage, Merchants, Payments, Processing, Terminals | View Pitch |
| Jan 28, 2026 | Fund Letters | Vivian Y. Chen | Shift4 Payments, Inc. | Financials | Transaction & Payment Processing Services | Bull | New York Stock Exchange | Fintech, Founderled, Freecashflow, growth, Payments | View Pitch |
| Jan 27, 2026 | Fund Letters | Adam Wilk | Shift4 Payments Inc | Information Technology | Data Processing & Outsourced Services | Bull | New York Stock Exchange | buybacks, Margins, Payments, Platforms, scale | View Pitch |
| Jan 24, 2026 | Fund Letters | JB Taylor | Shift4 Payments, Inc. | Financials | Transaction & Payment Processing Services | Bull | New York Stock Exchange | consumer, Fintech, growth, Payments, Sentiment | View Pitch |
| Jan 23, 2026 | Twitter / X | @stonkmetal | Shift4 Payments | Financials | Transaction & Payment Processing Services | Bull | New York Stock Exchange | entertainment, Four, hospitality, Payment, Payments, Pitch, Pitches, Set Forget | View Pitch |
| Jan 22, 2026 | Substack | Modern Value Investing | Shift4 Payments, Inc. | Information Technology | Data Processing & Outsourced Services | Neutral | New York Stock Exchange | consumer behaviors, economic uncertainties, Fintech, innovation, macroeconomic factors, payment processing, regulatory changes, Shift4 Payments, Strategic Partnerships, Technology Solutions | View Pitch |
| Jan 8, 2026 | Substack | Coughlin Capital | Shift4 Payments, Inc. | Payment Processing | Payment Processing | Bull | New York Stock Exchange | buyback authorization, Free Cash Flow, Global Blue acquisition, gross profit growth, historical multiples, leadership transition, market mispricing, shareholder value, Shift4 Payments, undervalued | View Pitch |
| Jan 8, 2026 | Substack | Coughlin Capital | Shift4 Payments | Payments Processing | Payments Processing | Bull | New York Stock Exchange | fintech sector, Global Blue acquisition, high-volume venues, hospitality, international expansion, organic growth, Payments processing, Shift4 Payments, stock buyback, valuation | View Pitch |
| Jan 8, 2026 | Value Investors Club | virtualodin | 4Imprint Group plc | Consumer Discretionary | Specialty Retail | Bull | New York Stock Exchange | Branding, Consumer products, e-commerce, Marketing, merchandising, retail | View Pitch |
| Nov 29, 2025 | Fund Letters | Vivian Y. Chen | Shift4 Payments Inc. | Information Technology | Transaction & Payment Processing Services | Bull | NYSE | e-commerce, Fintech, hospitality, Margins, market share, Payments, valuation | View Pitch |
| Nov 28, 2025 | Fund Letters | Vivian Y. Chen | Shift4 Payments Inc. | Information Technology | Transaction & Payment Processing Services | Bull | NYSE | e-commerce, Fintech, hospitality, Margins, market share, Payments, valuation | View Pitch |
| Nov 8, 2025 | Substack | Coughlin Capital | Shift4 Payments, Inc. | Information Technology | Software - Infrastructure | Bull | buyback authorization, cash flow, financial technology, growth metrics, management confidence, market cap, operational strength, payment processing, Shift4 Payments, Undervalued Stock | View Pitch | |
| Oct 1, 2025 | Substack | Coughlin Capital | Shift4 Payments, Inc. | Technology | Software - Infrastructure | Bull | founder-led, growth, Integration, investment opportunity, Payments, platform expansion, Shift4, software-first, switching costs, undervalued | View Pitch | |
| Sep 25, 2025 | Substack | Coughlin Capital | Shift4 Payments, Inc. | Technology | Software - Infrastructure | Bull | commerce platform, embedded infrastructure, Free Cash Flow, global reach, high-ROIC, market cap, mispricing, Payments, Shift4, software-led | View Pitch | |
| Sep 16, 2025 | Short Thesis | Blue Orca Capital | Shift4 Payments Inc | Information Technology | Data Processing & Outsourced Services (Payments) | Bear | NYSE | Competition, growth, leverage, Margins, Payments | View Pitch |
| Sep 10, 2025 | Seeking Alpha | Seeking Alpha | Shift4 Payments, Inc. | Software - Infrastructure | Bull | Fintech, Global Blue acquisition, growth, investment opportunity, leverage, M&A strategy, payment processing, profitability, Shift4 Payments, valuation | 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. | ||||||||