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Friday, October 16, 2026· 3801 stock ideas· 217 writers·
17,186 views· 7,936 clicks

TSOH Weekly Roundup (10/16/2026)

Bumble agreed to a $1.3 billion take-private deal, while Netflix cut about 1,000 jobs and Meta discussed its Muse superintelligence models.

BMBL $783M
TSOH Investment Research 2 clicks

From X

@david_katunaric 1 click

Mikro Kap David on X

Q3 absolutely sucked, and my performance currently stands at 37.8% YTD versus 65.8% at the end of Q2, marking the worst drawdown from a high since I started sharing my buy/sell decisions on Substack. Apparently, the Market Gods decided this is what you get for calling your last portfolio update “Half-time Lead.” …I’m just glad I didn’t use a Buffett quote. That might’ve finished me off. While I barely felt the pre-2024 election volatility, the spring 2025 tariff scare, or the start of the Iran war in 2026, Q3 broke that pattern. $EVC, my largest position, fell more than 40% from its highs and made sure I felt this one. The portfolio’s relative resilience, something I’d come to appreciate, disappeared with it. Of course, I have plenty to say about Entravision, but I’ll save the fundamental developments for later in the article. Q3 was a season of portfolio pruning (wow, I never thought I’d use that phrase). I exited two winners, realized one loss, added to a large position, saw a rare billion-dollar-plus company find its way into my portfolio, and ended the quarter with 6% in cash versus 0% at the end of Q2. I ended Q3 with 11 holdings, with the top three accounting for 53% of capital and the top five for 70%. Portfolio beta also came down from 0.95 at the end of Q2 to 0.80 at quarter end. That is still elevated relative to the portfolio’s historical level, largely because my biggest position carries a beta of 1.68, while every other holding sits below 1. I’ll save the longer performance review for year end, when we can hopefully put what I still consider a satisfactory 2026 into proper perspective. For now, I think it’s better to focus on what actually matters for a concentrated stock picker like me: what has changed fundamentally, how those developments affect the risk/reward, and where my conviction stands today. As usual, at the link below I went through the portfolio from the smallest position to the largest.

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Modine Deep Dive

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MOD $9.2B
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October 2026 Random Ramblings

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SOLS $9.7B
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Sphere Entertainment CO

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LQDA: finer powder, higher doses

Liquidia’s Yutrepia sales reached $170.4 million in Q2 2026, while a patent ruling threatens its PH-ILD label but leaves PAH sales and a…

LQDA $2.4B
Trade Ideas Flow 4 clicks

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