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 |
|---|---|---|---|---|---|---|---|---|---|
| 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 |
View |
| 2025 Q4 | Jan 14, 2026 | Riverwater Partners Small Cap Strategy | 0.0% | 0.0% | ADEA, AMD, ATMU, ATRC, BHST, BKH, CNX, DIS, HSTM, ITGR, KGS, LEU, LMNR, LOPE, MOD, NPKI, PLMR, STKL, VECO, WRBY | AI, financials, healthcare, infrastructure, Natural Gas, nuclear, Quality, small caps | Natural gas stocks benefited from AI theme as potential winners in powering data centers. CNX Resources was the top contributor driven by weather-related price increases and strong company execution. The manager remains encouraged by structural demand drivers for natural gas supporting higher volumes over time. Centrus Energy was positioned at the nexus of U.S. national security, nuclear energy independence, and next-generation reactor deployment. The company benefited from structural shift away from Russian nuclear fuel supply toward domestic enrichment, with rising demand from advanced reactors, SMRs, and nuclear power supporting AI-driven data center load growth. NPK International was added as a way to participate in multi-year infrastructure buildout required to support grid expansion, electrification, and energy system upgrades. The company provides composite matting solutions for utility and energy-related end markets with advantages over traditional timber mats. The manager avoided speculative AI investments but played the theme through picks-and-shovels approach via semicap equipment and utility infrastructure buildout. Natural gas stocks benefited as potential winners in powering data centers. Warby Parker has a call option on smart glasses and AI-enabled eyewear through its partnership with Google. | ITGR HSTM WRBY ADEA NPKI KGS BHST LMNR LOPE LEU CNX |
View |
| 2025 Q4 | Jan 14, 2026 | Riverwater Sustainable Value Strategy | 0.0% | 0.0% | ADEA, CIEN, CNK, DGX, EXEL, HAE, JLL, LMNR, LOPE, MDU, SNV, TGLS | AI, Banking, Quality, semiconductors, small caps, technology, value | The manager emphasizes focus on quality factors including profitability, strong returns on capital, solid balance sheets, and attractive valuations. Notes this has been one of the most challenging environments for quality-focused investors, with quality factors underperforming similar to the internet bubble period of 1999-2000. Strategy focuses on identifying high-quality companies at reasonable valuations. The manager notes periods favoring low-quality assets typically last only a few quarters and expects quality will ultimately reassert itself. The strategy targets small-cap equities with the Russell 2500 Value Index as benchmark. Manager is increasingly constructive on small-cap equities broadly for 2026, expecting a rotation back toward fundamentals with quality small-cap stocks outperforming lower-quality peers. CIEN benefited from AI datacenter network deployment as networking became a key bottleneck for deploying AI widely. ADEA's media IP portfolio includes AI technologies and computer vision capabilities. | MRX CNK ADEA SNV LMNR LOPE CIEN HAE |
View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 16, 2026 | Fund Letters | Adam Peck | Grand Canyon Education, Inc. | Consumer Discretionary | Education Services | Bull | NASDAQ | compounder, Education, Enrollment, Regulation, ROIC | View Pitch |
| Jan 16, 2026 | Fund Letters | Adam Peck | Grand Canyon Education, Inc. | Consumer Discretionary | Education Services | Bull | NASDAQ | compounder, Education, Enrollment, Regulation, ROIC | View Pitch |
| Sep 16, 2025 | Short Thesis | Citron | Grand Canyon Education Inc | Health Care | Education Services (Online University Management) | Bear | NASDAQ | cash flow, Concentration, Education, Enrollment, Regulation | View Pitch |
| Aug 13, 2025 | Seeking Alpha | Pedro Goulart | Grand Canyon Education | Health Care | Education & Training Services | 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. | ||||||||