Are Department Stores Finally Shortable?
Macy’s and Kohl’s face renewed short cases as their recent reratings ignore fading store-refresh gains, credit-card earnings exposure and transport-cost pressure.
Thursday, August 13, 2026
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Investor Letters
All letters- Palm Harbour Capital July 2026 064850 $143M082920 $946M
- Protean Funds July 2026 DVYSR $91MEVGGF $17B
- White Falcon Capital Management Q2 2026 EPAM $5.8BNU $67B
- Merion Road Capital Q2 2026 HONA $53B
- O'Keefe Stevens Advisory Q2 2026 SHC $5.2BCALY $2.6B
- CrossingBridge Advisors Q2 2026 WBD $77B
- GreensKeeper Asset Management Q2 ELV $87BICE $87B
- Cedar Creek Partners Q2 ‘26 ENDI $132MEXCE $1.3B
Permian Basin Q2 Update – Power, Water, Solid Waste, and Data Centers
GFL’s proposed acquisition of Secure follows 19% revenue growth at Secure and 14.8% EBITDA growth at GFL, with Permian produced-water and…
Entravision Q2 Notes
Entravision’s ATS revenue rose 230% to $182.8 million in Q2, but shares fell from above $14 to about $8 after management forecast…
$UWMC lost $600m hedging a deal they'd already lost
UWMC booked a roughly $600 million Q2 hedging loss tied to TWO months after the deal collapsed, contributing to an expensive capital raise.
Private Credit's Clock is Ticking w/ Glenn Schorr & Ken Worthington | The Real Eisman Playbook Ep 72
Glenn Schorr and Ken Worthington discuss risks in private-credit software loans, agentic AI at retail brokers, crypto use cases and bank…
Figma 2Q'26: Near-Term Re-acceleration vs. Long-Term Durability
Figma raised its 2026 revenue growth guide to 39%, but a roughly 1% sequential 3Q outlook and unchanged $125-135 million operating-income…
40 Stock Pitches (3rd-9th August)
Navient trades near 40% of tangible book as Gator Financial Partners argues private student-loan growth and restructuring can reverse its…
$HIMS: Paul Cerro wouldn't trust the CEO to walk his dog. He's still long. Why? | Cedar Grove
Hims & Hers investor Paul Cerro is long again on lab and patient data driving retention and LTV, despite management concerns, GLP-1…
These Power Stocks (Not Semis) Are The Real AI Beneficiaries, Say Investing Brother Duo Up 1,300%
Pernas Research names Capstone Energy and Stabilis Solutions as AI data-center power beneficiaries, alongside Tenable, Upwork, Wise and…
Airbnb 2Q'26: Widening the Gap with Booking
Airbnb added 14 million booked nights and seats, up 10%, and guided low-double-digit third-quarter growth as North America and EMEA…
My Pitch Deck Slide Show from the MS Microcaps Summer Virtual Conference
Butler National Corporation is the subject of a stock pitch presented at the MS Microcaps Summer Virtual Conference.
OTIS · long Otis Worldwide CORP
Otis Worldwide's largest global elevator installed base generates 95% recurring revenue, with service margins above 90% supporting a…
Airbnb’s Cost of Market Creation and Regulatory Survival
Airbnb spent 1.1% of 2025 GBV on field operations and policy as regulatory costs persisted; New York’s short-term-rental crackdown cut…
$CBZ: stop the buybacks and restart the M&A flywheel? | Reference Equity
CBIZ activist Ryan Bunn urges ending buybacks, issuing equity and resuming bolt-on acquisitions to delever after the $2.3 billion Marcum…
Matan on Stitch Fix
Stitch Fix’s rushed Freestyle pivot cannibalized its profitable Fix business, driving active clients below 3.4 million, quarterly revenue…
Under The Hood - Sprouts Farmers Market, Inc.
Sprouts Farmers Market’s 483-store fresh-food format combines dedicated distribution, curated assortments and long-built site selection,…
$50M Cash, No Debt, 0.74x Book: A Deep-Value Machine Tool Setup
A debt-free machine tool company with $50 million in cash trades at 0.74 times book value and below net current asset value.
U-Haul Bought at the Top
U-Haul’s pandemic-era fleet purchases at inflated prices now drive higher depreciation and disposal losses as truck and van prices…
[scuttlebits] CPRT, ADBE, FIG, NVDA, QCOM, FDS, Memory chips
Copart’s returning CEO Jay Adair plans to restart European expansion and build domestic whole-car sales on its global buyer network amid…
Corporate dark arts: the strangest 8-K I've ever seen $DMRC
DMRC’s incoming CEO can earn more than $40 million if shares rise roughly fivefold, despite an 8-K warning of substantial doubt about the…
Is insider buying a signal if the insiders are always wrong? $LILAK
LILAK’s canceled GCI Liberty deal, preferred-stock distribution, and $1.7 million of insider buying revive governance concerns around John…
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Seeking Alpha 29 of 159
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Mike Zaccardi, CFA, CMT
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Petri Dish Reports
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Clark Square Capital
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Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
Evan Tindell
Farmer
Fierce_beast
Fred Liu
Gavin Baker
Ian Bezek
Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
Little Owl Research
Maius
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marginofdanger
mavix
Mike
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Myles
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Rusholme Capital
Sahil Khetpal
SG
Tim Eriksen
Timyan Bank Alert
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ToffCap
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Voss Capital
Yaron Naymark
Investor letters we follow
- 1851 Capital
- Aikya Investment Management
- Akre Capital Management, LLC
- Alluvial Capital Management
- Alpinum Investment Management AG
- Ariel Investments
- Artisan Partners
- Askeladden Capital
- Asset Value Investors Ltd
- Baron Funds
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- Biglari Holdings
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- Cedar Creek Partners
- Choice Equities
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- Distillate Capital
- Dodge & Cox Stock Fund
- Donville Kent Asset Management Inc.
- FPA Crescent Fund
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- Forager Funds Management
- Fred Alger Management, LLC
- Giverny Capital
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- Greenhaven Road Capital
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- Halvio Capital
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- Hoisington Investment Management
- Horizon Kinetics
- Intrepid Capital
- Invenomic Capital Management
- Janus Henderson Investors
- Kaydan Wealth Management
- Kernow Asset Management
- LVS Advisory
- Laughing Water Capital
- Lindsell Train Limited
- Macro Ops
- Maran Capital Management
- Markel Group
- Massif Capital
- McIntyre Partnerships
- Merion Road Capital
- Myrmikan Capital, LLC
- O'Keefe Stevens Advisory
- Oakmark Funds
- Palm Harbour Capital
- Palm Valley Capital
- Patient Capital Management
- Pendelhaven Asset Management B.V.
- PenderFund Capital Management Ltd.
- Pershing Square Holdings
- Polaris Capital Management
- Polen Capital 5Perspectives Growth Opportunities
- Polen Capital U.S. Opportunistic High Yield
- Praetorian Capital
- Protean Funds
- RGA Investment Advisors
- Rowan Street Capital
- Royce Investment Partners
- Sequoia Fund
- Southeastern Asset Management
- Third Avenue Management
- Tweedy, Browne
- Upslope Capital Management
- Vulcan Value Partners
- Wedgewood Partners
- Weitz Investment Management
- White Falcon Capital Management
Sectors
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