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
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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
Colin King on X
$SANG getting bought out by $RILY at ~$5.23/share 47% premium to $3.60 close price https://t.co/AuHqgNIh0G
DOMO Capital Management, LLC on X
@taketheLearly @GasBuddyGuy @grok $ALTO $GPRE
Barbarian Capital on X
$CROX new demand driver uncovered https://t.co/sJumnF7PRz
Investor Letters
All letters- PenderFund Capital Management Ltd. August 2026 TGMPF $183MVHI $336M
- Forager Funds Management August 2026 BVSFF $1.4BEMCHF $66M
- Protean Funds August 2026 BVNKF $2.5BSUSRF $262M
- 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
One Hour Analysis: What would it take to break $BPRE's NAV?
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Greenland Energy Company: A Speculative Play On The Monetization Of Greenland
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Ron Ferrie 
VersaBank: The Bank Behind the Bank – How a Canadian Branchless Pioneer Wants to Make Asset-Backed Securities Obsolete
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GitLab: Positioned To Benefit From Software Development Explosion
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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
Mach Natural Resources' Q2 distributable cash fell to $60.1 million as development spending rose, prompting a distribution cut; its units…
Ouster (NASDAQ: OUST) Stock Rating: Accumulate - Initiating Coverage
Ouster began coverage at Accumulate as lidar revenue rose 56% in Q2, while annual cash burn near $80 million has driven an 86% share-count…
Research & Analysis: The Aaon Group (NASDAQ: AAON)
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
NINE · long Nine Energy Service
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Quick Value #328 - Cal-Maine Foods (CALM)
Cal-Maine, the largest U.S. egg producer, trades at 1.6x book versus a 2.1x 20-year median, with net cash and investments equal to 23% of…
Seadrill (SDRL): The $22 Billion Offshore Empire That Went to Zero Twice
Seadrill went bankrupt twice after funding dividends and new rigs with debt; its third iteration carries $390 million of net debt and a…
Monte Investments Market Brief Vol. CXXV
Nvidia reports Q2 2027 earnings August 26, with data-center backlogs, enterprise AI inference demand and Vera Rubin volume sales expected…
STNE 2026-08-25 StoneCo: Deep Value Hiding Behind Brazil's Rate Fears - For Now
StoneCo's buybacks and special dividend produced roughly 39% H1 shareholder yield as Brazil's rate cuts slow and competition persists.
IWA Research 3 clicks
US-Canada Tariffs: Finding Investment Opportunities
US-Canada tariffs impose 50% duties on $20 billion of Canadian goods, lifting US steel makers while pressuring Canadian exporters and…
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Portillo’s: Strategic Reset
Portillo’s reset follows weak Texas unit economics, cutting next year’s openings to five from roughly 10 annually and shrinking store…
UEC 2026-08-24 Uranium Energy Ranks High Among The Bravest Companies I Ever Covered
Uranium Energy Corp. is withholding production at low uranium prices while funding mine development through future share issuance.
Marc Gerstein 3 clicks
Planet Fitness: The $10 Gym That Grew Into a Franchise Machine
Planet Fitness runs 2,930 clubs and 21.5 million memberships through an asset-light franchise model funded by $15 monthly dues, royalties…
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