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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 19, 2025 | Prosper Stars & Stripes | 9.6% | -0.8% | AGYS, AZTA, EXPO, FTAI, HELE, KRMN, MGNI, PACK, SPHR, TATT, TKNO | alpha, Long/Short, risk control, stock selection, volatility | The letter discusses navigating volatility through disciplined long/short equity exposure amid tariff shocks, recession fears, and rapid market reversals. Management emphasizes risk control, flexible net exposure, and stock selection as drivers of alpha. The approach seeks consistent compounding regardless of market direction. | View | |
| 2024 Q2 | Aug 1, 2024 | Tourlite Capital Management | 4.5% | 13.8% | FIP, FTAI, LTCH, OABI, PRPL, RICK | - | View | ||
| 2025 Q2 | Jul 22, 2025 | Aristotle Small/Mid Cap Equity | 4.6% | - | ACIW, ALIT, BHLB, CHE, CMCO, DLB, DY, FTAI, IPAR, JBGS, MNRO, MTSI, PRGO, SMG, TROX, VRRM | diversification, earnings, Quality, Small/Mid Cap Caps | CHE |
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| 2024 Q1 | May 9, 2024 | Tourlite Capital Management | 4.5% | 13.8% | APG, ESPR, FIP, FTAI, PRGO, PRPL, ROIV | - | View | ||
| 2025 Q1 | May 23, 2025 | Tourlite Capital Management | -4.6% | -4.6% | FIP, FTAI, SOC | - | View | ||
| 2025 Q1 | Apr 25, 2025 | Crossroads Capital | -7.6% | -7.6% | CLMT, FTAI, MGNI, NTDOY, VTY LN | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Diamond Hill Small Cap Fund | 8.5% | 12.2% | FTAI, LANC, LOB, OEC, RRR, TKO CN, UFPT, WNS | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Artisan Partners Small Cap Fund | -10.1% | -10.1% | ARIS, ASND, BROS, DAY, FRSH, FTAI, GWRE, HALO, KTOS, MTSI, SG, VCYT | - | View | ||
| 2025 Q1 | Mar 31, 2025 | AMG Frontier Small Cap Growth Fund | -14.4% | -14.4% | BILL, FTAI, INDI | - | View | ||
| 2025 Q4 | Feb 26, 2026 | Crossroads Capital | 2.7% | 37.7% | ASTS, CLMT, FTAI, META, MSFT, NBIS, NTDOY, NVDA, ORCL, PLTR | aerospace, AI, gaming, growth, small cap, Space, technology, value | Nintendo continues to demonstrate exceptional performance with Switch 2 becoming the fastest-selling console in history, selling 17.4 million units in just 7 months. The company has a historically rich first-party software pipeline and is building new recurring revenue streams through Nintendo Switch Online and its expanding cinematic universe. AST SpaceMobile has transitioned from R&D startup to scaleup, successfully deploying the largest commercial communications antenna in low-Earth orbit with BlueBird 6. The company has secured over $1 billion in pre-funded revenue commitments and won a prime position on America's Golden Dome missile defense architecture. Nebius Group operates as an AI-first cloud platform with major hyperscaler contracts including $17.4 billion with Microsoft and $3 billion with Meta. The company is building substantial AI infrastructure capacity with 2.5 GW of contracted power by end-2026. FTAI Aviation is transforming into a capital-light MRO franchise for CFM56 engines through its Strategic Capital Initiative, creating 'green time' by manufacturing proprietary PMA parts. The company is also expanding into data center power generation by repurposing jet engines into aeroderivative gas turbines. | FTAI NBIS ASTS NTDOY |
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| 2023 Q3 | Oct 31, 2023 | Tourlite Capital Management | 4.5% | 13.8% | FIP, FTAI, KD, LTCH | - | View | ||
| 2025 Q3 | Oct 21, 2025 | Tourlite Capital Management | -2.0% | 2.7% | FIP, FTAI, TIC | Bubbles, liquidity, momentum, shortselling, Speculation | Liquidity-fueled speculative stocks, including quantum computing, crypto-exposed names, and meme baskets, significantly outperformed fundamentals, challenging long/short spread capture. The manager expects the eventual unwind of speculative excess to create a major short-selling opportunity. Speculation remains a macro factor distorting valuations across sectors until liquidity normalizes. | View | |
| 2024 Q3 | Oct 21, 2024 | Tourlite Capital Management | 4.5% | 13.8% | ABUS, APG, FTAI, ROIV, SOC | - | View | ||
| 2025 Q4 | Jan 28, 2026 | Tourlite Capital Management | 0.2% | 2.8% | AERO.SW, FIP, FTAI, GLNG, NFE, NTGR | aerospace, consumer, Event Driven, industrials, infrastructure, Long/Short, small cap, technology | The fund holds significant positions in FTAI Aviation and Montana Aerospace, viewing the aerospace supply chain as facing severe bottlenecks while demand remains at decade-high levels. Montana Aerospace is positioned as a structural winner with 90% single-sourced products and vertically integrated capabilities spanning Europe, US, and Vietnam manufacturing. FTAI Infrastructure represents a key holding with multiple catalysts including the Wheeling & Lake Erie Railway acquisition, potential Long Ridge strategic action, and Repauno development phases. The manager sees the company transitioning toward a pure-play rail business with significant asset value upside. FTAI Aviation announced FTAI Power initiative to repurpose CFM56 engines for data center power generation, representing a potential $1 billion EBITDA opportunity. The manager views this as a significant catalyst with ramping expected in second half of 2026. | View | |
| 2025 Q4 | Jan 27, 2026 | Buckley Capital | 2.6% | 21.4% | ALL, BFIT, DAVE, FTAI, GE, HLT, HWM, IHG.L, IWG.L, LNW, LQDA, MAR, PRTH, RR.L, RTX, SAF.PA, UTHR, VRNA, WLFC | aerospace, Europe, Fintech, gaming, Inflection, small caps, turnaround, value | Light & Wonder represents a high-quality duopoly business with Aristocrat in slot machine manufacturing and distribution globally. The company has engineered a remarkable turnaround over the last 5 years, transitioning from an overlevered business losing market share to an appropriately levered company now growing market share substantially. Basic-Fit is the dominant low-cost gym operator in Western Europe and represents the largest position. The company built a highly standardized, low-cost gym model delivering attractive price-to-value for members and high incremental returns on capital. 2026 is expected to be the inflection year as clubs opened since 2023 have reverted to pre-pandemic performance. Willis Lease Finance is a niche leader in commercial aircraft engine leasing, specializing in midlife engines. The aerospace backdrop is exceptionally strong with supply chain bottlenecks, engine reliability issues, and record order backlogs driving years of elevated demand. New engine production is effectively sold out for years. Dave is a high-growth, profitable neobank offering mobile digital banking services and small-dollar advances to customers often ignored by traditional banks. The company's Extracash product drives majority of revenues and represents a better option than payday loans or bank overdraft fees for consumers. Liquidia recently pre-announced very strong results and is expected to generate around $600-700m in sales this year and $1bn next year. The main issue continues to be lack of resolution around the patent infringement court case with competitor United Therapeutics, but the position is fully hedged. Priority Tech Holdings is exceptionally well-positioned within the financial services and payments industry, benefiting from high profitability, strong free cash flow returns, and a predictable business model. Over 90% of the company's business is either recurring or reoccurring, providing high predictability. | LQDA DAVE IWG LN LNW PRTH WLFC |
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| 2025 Q4 | Jan 15, 2026 | Baillie Gifford – International Alpha | -1.7% | 17.5% | ADYEY, AMZN, APP, CRH, DASH, ELV, ENSG, FTAI, GOOGL, MA, META, MLM, MSCI, MSFT, NFLX, NVDA, RPRX, RYAAY, SCI, TSM | AI, global, growth, long-term, Quality, technology | AI spending and capabilities remain central to investment thesis across multiple holdings. Meta's elevated AI expenditure in 2026 creates execution risk but unlocks growth levers across its user base. Tencent's AI talent and research investments position it uniquely to leverage AI across gaming, advertising, and payments platforms. TSMC maintains dominant position capturing 70% of global foundry revenues with supply agreements across all key chip designers. Kokusai Electric benefits from recovery in memory markets and growing importance of batch ALD machines in AI memory chip manufacturing. Semiconductor cycle showing strength from Chinese and Korean manufacturers. Factory automation represents long-term structural growth opportunity. Keyence leads in sensors and machine-vision systems with 80% margins supported by direct sales model. Structural trends include rising automation, reshoring, and growing complexity in electric vehicle manufacturing providing long runway for growth. Sea's Shopee marketplace investing in service quality and faster shipping while expanding in Malaysia and Thailand to capture market share. Auto1 consolidating position as Europe's leading used car marketplace with 3% market share and growing direct-to-consumer Autohero brand providing margin expansion opportunity. | IOT QXO GAW AG1 GR AUTO LN TSM 6525 JP DG META SE |
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| 2024 Q3 | Sep 30, 2024 | ClearBridge Investments Small Cap Growth Strategy | 0.0% | 0.0% | ANF, FTAI, OS, WTFC | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Diamond Hill Small Cap Fund | 8.5% | 12.2% | ALNT, ASH, ASTH, CIVI, FA, FTAI, IGIC, LOB, NSP, PAL, PESI, RMNI, USLM | - | View | ||
| 2024 Q2 | Jul 26, 2024 | Diamond Hill Small Cap Fund | 8.5% | 12.2% | EVO, FTAI, LOB, MAMA, RCKY, RRR, USLM | - | View | ||
| 2023 Q1 | Apr 18, 2023 | Tourlite Capital Management | 4.5% | 13.8% | FC, FTAI, GLOP, VRRM | - | View | ||
| 2025 Q1 | Mar 31, 2025 | Alger Small Cap Focus Fund | -21.8% | -21.8% | AGYS, FTAI, GWRE, NARI, WGS, XMTR | - | View | ||
| 2024 Q4 | Feb 18, 2025 | Tourlite Capital Management | 0.4% | 14.2% | FIP, FTAI, LTCH, REAL, ROIV, SOC | - | View | ||
| 2022 Q4 | Jan 27, 2023 | Diamond Hill Small Cap Fund | 8.5% | 12.2% | ALGT, BBCP, ESAB, ESGRP, FTAI, GHM, GTES, ODC, RMNI, RRR, TGB, UFPT, WNS, WWW | - | View | ||
| 2023 Q4 | Jan 26, 2024 | Tourlite Capital Management | 4.5% | 13.8% | APG, ESPR, FIP, FTAI, KD, LTCH, PRM, ROIV | - | View | ||
| 2023 Q2 | Jan 9, 2023 | Tourlite Capital Management | 4.5% | 13.8% | APG, FIP, FTAI, GLOP, KD, LTCH, PRM | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2026 | Fund Letters | Ryan O'Connor | FTAI Aviation Ltd. | Industrials | Trading Companies & Distributors | Bull | NASDAQ | Aftermarket Margins, Asset Management Fees, capital-light model, Engine Exchanges, Green Time, Key Concepts Include MRO Franchise, operating leverage, PMA Parts | View Pitch |
| Feb 4, 2026 | Twitter / X | @justfactstruth | FTAI Aviation Ltd. | - | Bull | NASDAQ | AeroderivativeTurbines, aftermarket, AIDataCenters, CFM56, Energyinfrastructure, GasTurbines, Powergeneration | View Pitch | |
| Jan 23, 2026 | Twitter / X | @KryptoniteRese | FTAI Aviation Ltd. | Consumer Discretionary | Aerospace & Defense | Bull | NASDAQ | Aviation, Ftai, PMA, Presenter, Products, refining, Third Party Capital, Using Third Party | View Pitch |
| Jan 22, 2026 | Twitter / X | @justfactstruth | FTAI Aviation Ltd. | Industrials | Airport Services | Bull | NASDAQ | aftermarket, Aviation, Canada, Engine, Engines, Ftai, Ftal, Payments | View Pitch |
| Jan 21, 2026 | Substack | Kairos Research | FTAI Aviation | Aerospace & Defense | Aerospace & Defense Equipment | Bull | NASDAQ Stock Market | aerospace leasing, AI compute demand, CFM56 engines, EBITDA growth, Engine Maintenance, FTAI Aviation, FTAI Power, Gas turbines, modular turbines, Power generation | View Pitch |
| Jan 8, 2026 | Fund Letters | Ryan O'Connor | FTAI Aviation Ltd. | Industrials | Aerospace & Defense | Bull | NASDAQ | aftermarket, Aviation, Engines, PMA, ROE | View Pitch |
| Nov 29, 2025 | Fund Letters | Chris Welch | FTAI Infrastructure Inc. | Industrials | Transportation Infrastructure | Bull | NASDAQ | acquisition, assets, Freight, infrastructure, Rail, Transportation | View Pitch |
| Oct 16, 2025 | Substack | Kairos Research | FTAI Aviation | Industrials | Rental & Leasing Services | Bull | Aerospace Products, Chromalloy Partnership, Cost efficiency, Engine Maintenance, Leasing, market share, MRE Business, PMA Parts, Strategic Capital Initiative, vertical integration | View Pitch | |
| Sep 16, 2025 | Short Thesis | Muddy Waters | FTAI Aviation Ltd | Industrials | Air Freight & Logistics (Aviation Leasing & Infrastructure) | Bear | NASDAQ | Aviation, Engines, Leasing, leverage, Residual risk | View Pitch |
| Sep 16, 2025 | Short Thesis | Muddy Waters | FTAI Aviation Ltd | Industrials | Air Freight & Logistics (Aviation Leasing & Infrastructure) | Bear | NASDAQ | Aviation, dividend, Engines, Leasing, leverage | 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. | ||||||||