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
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 $448MALM $3.9B
- Asset Value Investors Ltd July 2026 079940 $393MVVVNF $1.6B
- PenderFund Capital Management Ltd. July 2026 NEO $969MVNP $2.1B
- Kernow Asset Management July 2026 CKNHF $2BCMCX $2.5B
- Lindsell Train Limited July RMVEY $3.2B
Greenland Energy Company: A Speculative Play On The Monetization Of Greenland
Greenland Energy Company holds 2.1 million acres in the Jameson Land Basin, but drilling permits, political risk and warrant dilution cloud…
Ron Ferrie 
VersaBank: The Bank Behind the Bank – How a Canadian Branchless Pioneer Wants to Make Asset-Backed Securities Obsolete
VersaBank uses cash holdbacks and put-backs to buy point-of-sale loan cash flows, with C$7 billion in assets and AI-enabled real-time…
Updates
FGPR remains on track, PRTH's management buyout is set at $8.05, and microcap RAVE is described as cheap.
Oklo: Shares Have Plunged, But I'm Still Bearish
Oklo shares have fallen 77% since October 2025 as commercialization slips beyond 2027, revenue estimates fall and dilution continues.
Ian Bezek 5 clicks
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…
IEH Corporation: Research Note
IEH booked $3.6 million in mobile-defibrillator connector orders, lifting its medical revenue outlook and diversifying beyond aerospace and…
Grupo Aeroportuario Del Sureste: Quant Ratings Say Sell, But The Underlying Moat Says Strong Buy
ASR’s $992 million Motiva acquisition broadens its South American airport network after a 25% YTD decline, while its 8.5% FCF yield and…
C Jessen 3 clicks
OKLO · short Oklo INC
Oklo is framed as a portfolio basket short and a concept company that could become a compounding short.
✅ Buying AI Beneficiaries and Selling One AI-disrupted Business
Sleep Well Portfolio is selling SPS Commerce as AI-vulnerable and adding Veeva, Mercado Libre, Cellebrite and Sea, citing proprietary data,…
FactSet’s Take-Private Rumours
FactSet has drawn take-private interest from Thoma Bravo and Hellman & Friedman, with its recurring subscription revenue, 90% client…
Hallador Pt. 2 — "Massive" Data Center Incoming in Sullivan, IN? ($HNRG)
Hallador’s 1 GW Merom plant could supply a proposed 1,000-acre Sullivan County data center, with local filings and Stantec references tying…
Theravance Biopharma: Failed Phase 3 Trial, Strategic Review
Theravance Biopharma began a strategic review after a failed Phase 3 trial.
The Green Dot Breakup: Grocery Money, Not Coffee Money
Green Dot’s breakup offers $8.11 cash plus 0.2215 BankCo shares, while GDOT’s $11.50 price implies a 0.55x tangible-book valuation for the…
Updates: TerraVest, Seaport Entertainment, XPEL (TVK.TO, SEG, XPEL)
Seaport Entertainment sold 250 Water St for $142 million and leased the loss-making Tin Building, while TerraVest’s Q1 cash EBIT margin…
Single Stock Spotlight #3: Alpha Metallurgical Resources (AMR)
Alpha Metallurgical Resources has retired more than 30% of its shares since 2022; higher structural metallurgical-coal costs could support…
Hydreight Technologies Inc. (NURS.V)
Hydreight Technologies (NURS.V) is a digital-health business with growing revenue, partners and customers, positioned as an acquisition…
Sleep Well Portfolio (Feb 2026) - Software AI risk Assessed
Sleep Well Portfolio cuts SPS Commerce after assessing AI risk across 12 software holdings, finding deterministic, rule-based data…
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