Wesco International (WCC)
Wesco International is the scale player in electrical, communications, and utilities distribution and supply chain services. Originally...
Pure Storage (PSTG)
(Q3 2023 Letter) The launch of Open AI’s Generative Pre-Trained Transformer (GPT) has set in motion an arms race for artificial...
Danaher Corporation (DHR)
Danaher is a life sciences, diagnostics and biotechnology powerhouse with global scale and a long runway to grow revenues and earnings....
Canadian Pacific Kansas City (CP)
On April 14th, 2023, Canadian Pacific drove a historic golden spike to join with Kansas City Southern, creating the first and likely only...
Intercontinental Exchange (ICE)
In our Q3 2020 letter we articulated the reasons why we were investing in IAC/InterActiveCorp (IAC). One part of our thesis was IAC’s...
Cardlytics, Inc (CDLX)
Early in the fourth quarter we used the opportunity created by investor concerns over pandemic related pressure on footfall trends and...
Upwork Inc. (UPWK)
Early in the fourth quarter we meaningfully increased our position size in Upwork (UPWK). Upwork is a global employment marketplace that...
Pinterest Inc. (PINS)
Early in the third quarter we used earnings related weakness to increase our position in Pinterest. Pinterest is an online discovery...
IAC/InterActiveCorp (IAC)
In our Q4 2019 letter we wrote about our rationale for investing in Match Group (MTCH). Early in the third quarter we used market...
StoneCo Ltd (STNE)
StoneCo Ltd (STNE) Early in the second quarter, we used the market selloff to initiate a new position in StoneCo (STNE). Stone is an...
Wix.com Ltd (WIX)
Wix.com Ltd (WIX) Early in the second quarter, we used the market selloff to double the position size of our long-standing investment in...
Match Group (MTCH)
Match Group (MTCH) In the fourth quarter, we used an earnings-related selloff to invest in Match Group (MTCH) ahead of several near-term...
Ferguson PLC (FERG LN)
Ferguson PLC (FERG LN) Ferguson is the leading North American specialist distributor of plumbing and heating products and waterworks and...
Rosetta Stone (RST)
Rosetta Stone (RST) In the fourth quarter we invested in Rosetta Stone (RST). In Rosetta Stone, we see a historical fact pattern that has...