Quick Value #332 - Gentherm (THRM)
Gentherm’s Oct. 1 Reverse Morris Trust with Modine adds commercial and off-highway operations, leaving THRM at 7.4x pro forma EBITDA with under 1x leverage.
Monday, September 28, 2026
Back to today
From X
John_Hempton on X
@stubmt I lost 0.02 percent on $AMC today. Position is tiny.
Barbarian Capital on X
Burford Capital to gain up to $1.4 bn from Apple patent defeat $BUR https://t.co/FijYGEP3fo
Barbarian Capital on X
AAR to Pay $1.8 Billion for Stake in Aircraft-Maintenance Company $AIR https://t.co/y3DZLQRhaO
Barbarian Capital on X
Vail Resorts Loss Widens After a Year of Tough Weather $MTN https://t.co/8UH8LNPKDb
DOMO Capital Management, LLC on X
@taketheLearly @GasBuddyGuy @grok $ALTO $GPRE
Barbarian Capital on X
$CROX new demand driver uncovered https://t.co/sJumnF7PRz
Lee Roach on X
Timberland companies looking pretty decent here. $RYN. https://t.co/tlr3d7MiCs
Deep Sail Capital on X
$ARQQ - Closed and reopened this one once already. Back to a good spot to re short it. Borrow came down a bit recently.
Investor Letters
All letters- PenderFund Capital Management Ltd. August 2026 VHI $336M
- Forager Funds Management August 2026 BVSFF $1.4BIDPUF $554M
- Protean Funds August 2026 BVNKF $2.5B
- Pendelhaven Asset Management B.V. July 2026 DR0 $438MALM $3.8B
- Asset Value Investors Ltd July 2026 079940 $399MVVVNF $1.6B
- PenderFund Capital Management Ltd. July 2026 NEO $1BVNP $1.9B
- Kernow Asset Management July 2026 CKNHF $2.1BCMCX $2.5B
- Lindsell Train Limited July RMVEY $3.3B
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VersaBank: The Bank Behind the Bank – How a Canadian Branchless Pioneer Wants to Make Asset-Backed Securities Obsolete
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Research and Value 3 clicks
Updates
FGPR remains on track, PRTH's management buyout is set at $8.05, and microcap RAVE is described as cheap.
TSOH Weekly Roundup (09/25/2026)
TSOH Weekly Roundup covers Ralph Lauren’s $1 billion distribution pullback, Peloton’s $2,195 foldable treadmill and $800 million…
(Public) Mach Natural Resources - A Buying Opportunity
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Ouster (NASDAQ: OUST) Stock Rating: Accumulate - Initiating Coverage
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AAON's BASX data-center cooling business targets $1 million to $1.5 million per megawatt, with new capacity and backlog conversion expected…
Vista Energy: The Cash Engine Is On
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Alan Galecki 5 clicks
CDNL · short Cardinal Infrastru Group INC
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Single Stock Spotlight #7: XPEL, Inc. (XPEL)
XPEL's paint-protection-film sales accelerated to 13% growth in 2025 as inventory resets eased, with margin recovery targeted after…
Linking RCM Technologies to a Multibillion-Dollar Hyperscale Buildout
RCM Technologies is providing engineering services to Cipher Digital, whose 3.4 GW contracted and pipeline capacity implies more than $20…
Our Q1 2026 Letter & Look Ahead: Oil, Iran, OXY & PTON
Open Square Capital’s Q1 2026 letter discusses the oil market, Iran, Occidental Petroleum and Peloton.
Under The Hood, Pool Corporation - $POOL
Pool Corporation controls roughly 40% of US pool-product distribution, with maintenance representing 64% of sales as new-pool construction…
Forgive me Father, I have Sabled.
Sable Offshore restarted Santa Ynez oil flows under a Defense Production Act order, targeting 50,000 barrels daily and a path to 60,000…
Capitulation in packaged food consumer staples?
Conagra’s CEO change and 9% yield intensified a packaged-food selloff, while General Mills trades near historical valuation lows despite…
Sirius XM (An Excerpt From Our Recent Letter)
Sirius XM grew 2025 free cash flow 24% to $1.26 billion as capex peaked, while companion plans revived subscriber additions and debt fell…
Performance & Portfolio Update: Q1 2026
Portfolio update reports a 20.5% Q1 loss, led by WeightWatchers’ 61% decline, while adding Bumble, Oscar and Shift4.
Single Stock Spotlight #6: Huntsman (HUN)
Huntsman’s $800-$900 million mid-cycle EBITDA and 8-10x historical EV/EBITDA imply $30-$40 per share, versus roughly $13, after a chemicals…
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