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 |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q2 | Sep 5, 2024 | Rowan Street Capital | 12.8% | 42.3% | META, SHOP, SPOT, TOI CN | - | View | ||
| 2025 Q2 | Jul 30, 2025 | REQ Global Compounders | - | - | LMN CN, ROKOB SS, TOI CN | CashFlow, Compounding, Culture, Decentralization, M&A | Compounding: REQ emphasizes disciplined long-term value creation through sustained reinvestment, strong free cash flow generation, and cash-culture-driven performance. Portfolio companies announced 78 acquisitions in 1H25 (Global) and 65 in 1H25 (Nordic), highlighting robust reinvestment engines. Acquisition: Case studies such as Röko, DCC, Topicus, and Lumine demonstrate acquisition-driven growth, disciplined capital deployment, sector-agnostic deal sourcing, and strong alignment via minority rollovers. REQ frames small private acquisitions as the highest-ROI reinvestment path. Decentralization: Decentralized cultures, entrepreneurial autonomy, local decision-making, and owner-operator alignment are presented as essential to long-duration compounding. REQ stresses that cultural momentum reduces the cold start problem and creates multi-decade compounding durability. | View | |
| 2024 Q1 | May 9, 2024 | Polen Capital – Global SMID Company Growth | 7.4% | -2.4% | 3697 JP, CNM, DAVA, EVD GR, GLOB, TOI CN | - | View | ||
| 2024 Q1 | Apr 17, 2024 | Langdon Canadian Smaller Companies Portfolio | 4.3% | 4.3% | ATS CN, TOI CN | FactoryAutomation, SerialAcquirers, SmallCaps, VerticalSoftware, WesternCanadaEnergy | SmallCapQuality: The manager emphasises underfollowed Canadian small caps with limited or no sell-side coverage, backing aligned owner-operators with significant insider stakes who can compound capital over long periods. SerialAcquirers: The portfolio includes industrial and software serial acquirers such as an undisclosed Canadian industrial roll-up and Topicus, which deploy capital into niche vertical-market software and operating companies using disciplined M&A playbooks and deep on-the-ground diligence across multiple cities. Energy: Select Western Canadian energy exposures like PrairieSky and private Storm Development are owned for their leverage to improving LNG export demand and strong management teams, providing diversification while keeping overall commodity and rate sensitivity modest. :contentReference[oaicite:1]{index=1} | View | |
| 2024 Q4 | Mar 11, 2025 | Argosy Investors | - | - | ALNT, CDW, CSWI, DAVA, TOI CN | - | View | ||
| 2025 Q3 | Oct 30, 2025 | IFSL Church House Human Capital Fund | -4.6% | - | 9535 JP, CICN SW, JUSC LN, LMN CN, PRM, ROKOB SS, TOI CN | Acquisitions, Compounding, Decentralization, Founders, growth | The fund emphasizes entrepreneurial, acquisitive businesses run by founder-led management teams with decentralized cultures. Geographic diversification and disciplined capital allocation underpin long-term growth despite short-term market deratings. Growth remains attractive where earnings reinvestment and management quality drive compounding. | View | |
| 2025 Q3 | Oct 24, 2025 | Rowan Street Capital | 0.2% | 20.4% | ADYEY, DNOPY, META, NFLX, SHOP, SPOT, TOI CN, TSLA, TTD | AI, Compounding, Founders, Quality, Tesla | Rowan outperformed with a 20.4% YTD gain, emphasizing founder-led compounders like Meta, Shopify, and Adyen. The fund reallocated from Spotify to Tesla, citing Teslas multi-layered moats in manufacturing, AI, data, and robotics. Managers view Tesla as a generational opportunity built on vertical integration and structural compounding power across autonomy and energy. | SPOT TSLA SPOT TSLA |
View |
| 2022 Q1 | Apr 29, 2022 | Andvari Associates | 0.0% | 20.3% | CSU CN, TOI CN, TYL | - | View | ||
| 2024 Q4 | Jan 24, 2025 | Rowan Street Capital | - | 56.6% | META, SHOP, SPOT, TOI CN, TTD | - | View | ||
| 2023 Q4 | Jan 24, 2024 | Rowan Street Capital | 12.8% | 42.3% | ADYEY, META, SHOP, SPOT, TOI CN, TTD | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jan 30, 2026 | Fund Letters | Daniel Bellehsen | Topicus.com Inc. | Information Technology | Application Software | Bull | Euronext Stock Exchange | Acquisitions, European Software, growth, recurring revenue, VMS | View Pitch |
| Jan 9, 2026 | Fund Letters | Fred Mahon | Topicus.com Inc | Information Technology | Application Software | Bull | New York Stock Exchange | Acquisitions, Overreaction, Recurring, Software, Succession | View Pitch |
| Nov 29, 2025 | Fund Letters | Greg Dean | Topicus.com Inc. | Health Care | Application Software | Bull | TSX | Acquisitions, compounding, Fragmentation, Free Cash Flow, Recurring, Software | 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. | ||||||||