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 |
|---|---|---|---|---|
Green Ash Partners Adrian Courtenay | “Filtronic, which I have appraised as a monopolistic supplier to SpaceX – detailed in the June factsheet – again merits emphasis. The shares have halved from their May high, leaving the company capitalised at £520m. In February, Filtronic opened its new factory that, in the company's words, would support over £200m in annual revenue. Precisely when that revenue is fully realised depends on Starship's launch cadence – a trajectory we have modelled closely, and one Filtronic does not control, which is reason enough for management to avoid false precision in its guidance. Our own modelling has the new capacity at full utilisation within two years. Assume a 20% net income margin – conservative against the 28% delivered in 2025 – and £210m of revenue yields £42m of net income. Against the month-end capitalisation, that is a P/E of 12.4x at factory capacity. As guided by the company prior, Filtronic's orders from SpaceX held reasonably steady in the year to May 2026 (reported in early August), but my work points to a necessary and meaningful re-acceleration over the next two years, and ultimately well beyond Filtronic's announced factory capacity, as Starship launch cadence rises. SpaceX will, on this analysis, continue to dominate Filtronic's revenue within a partnership now placed on a formal, long-term footing: through warrants, SpaceX holds a prospective equity participation of 15% of Filtronic's outstanding shares. Nevertheless, the strength of Filtronic's business is not confined to SpaceX. In the year just reported, Filtronic's revenue excluding SpaceX grew 99% year-on-year and now accounts for 32% of the total. Nearer-term expectations for Filtronic are also well underwritten: the current order book already covers 90% of consensus revenue for the forward year. Combined with its other attributes – a profitable business carrying net cash – Filtronic's path to materially higher economics is increasingly de-risked.” | NEUTRAL | Q2 2026 Aug 31, 2026 | View Pitch |
Rockwood Strategic Richard Staveley | “Deployment of GaN E-band products represents a step change in performance. Projected to receive initial orders this FY from 4 new major space customers, driving revenue growth from next FY. Defence re” | BULL | Q1 2026 Apr 28, 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.