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Sunday, November 8, 2026

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Vicor Update, Part Four

Vicor’s Federal Circuit hearing put Foxconn’s disputed patent license under pressure, reinforcing its AI server royalty model and licensing leverage.

VICR $6.8B
CV's Substack 1 click

From X

@Adam_Wyden

Adam D. Wyden on X

They have a lot of opportunity to let people know about the quantum of the value gap as well in the coming weeks…. This reminds me of our investment in $race or $gmcr… multiple expansion and earnings growth as the mix of the business transforms. People can’t see it until they can. @Mark_Penn @benallanson @jayleveton @markminervini @stoolpresidente @TheRoaringKitty @marketplunger1 @BillBrewsterTBB @AndrewYAVB @ACapitalLP $STGW
@ACapitalLP

A Capital on X

Great additions. Was starting with the more liquid names. $CODI is absurdly undervalued, with asset sales a clear catalyst. $STGW is fascinating. Nobody knows it because it sounds like what British people call a bachelor party rather than well known peers WPP or Publicis, yet the underlying growth is exceptional. More management meetings lined up than I can ever remember seeing. Hard to imagine investors walking out of those anything but impressed…
@ACapitalLP

A Capital on X

Interesting catalyst situations I'm tracking into year-end: $FLEX – Axiom targets at Innovation Day (11/10) $KBR – KBR/Trinzic investor days (11/11–12) $WFRD – Delaware redomicile, S&P add? (11/13) $BAYN – Roundup settlement approval (any day) $VOYA – TCIM no-confidence vote (11/24) $PNW – APS rate case order (late Nov) $LYV – Tunney ruling + post-trial motions $MTN – ISS/GL on Oasis slate (early Dec) $COO – Q4 print under interim chair, Jana pushing a sale What am I missing?
@Adam_Wyden

Adam D. Wyden on X

Another sleeper factor of $STGW is that given what happened on Election Day, both parties are going to spend crazy amounts of money on ‘28 election. This spend will start in ‘27 as well. The EBITDA growth in ‘27 and ‘28 will be nothing short of breath taking with a high graded mix. 12x 2027 EBITDA of 650 is ~ 28.00 bucks. What if they do 800+ in ‘28? Upside to these numbers if they do more m/a in saas / digital transformation… the only thing that is TRANSFORMING is $STGW. How could potentially 20mm shares be short? @Mark_Penn @ballant11 @jayleveton @TheRoaringKitty @stoolpresidente @AKWilk @markminervini @ACapitalLP @AndrewYAVB @CorneliaLake @ChrisCamillo @citrini This is going much higher.
@Mr_Neutral_Man

Mr Neutral Man aka "Howard Marks of REITs” on X

Small Bay Industrial investors will do everything in SoCal instead of buying $REXR If you’re looking to deploy more than 7 figures in SoCal smallbay industrial, $REXR is much cheaper and literally selling some warehouse to the aggressive buyers Using proceeds to buy back shares further boosting intrinsic value Crazy public arbitrage of private market value DM open if you actually want to get more than 7 figures of exposure to SoCal warehouse
Mr Neutral Man aka "Howard Marks of REITs” REXR $8B

Investor Letters

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Floor & Decor 3Q26: Business Update

Floor & Decor’s 3Q26 sales rose 3% while comparable sales fell 1.4%; it cut 2027 openings to 10-15 as high mortgage rates pressure…

FND $5B
Speedwell Memos 1 click
SIRI · long

Sirius Xm Holdings INC

SiriusXM, SIRI, combines a 32% EBITDA margin with 3.6x net leverage and a 16% free-cash-flow margin despite elevated capex.

SIRI $11B
Value Investors Club 2 clicks

Portfolio Update March 2026

Portfolio adds Nomad Foods and Judges Scientific, increases Constellation Software, trims Roper, and exits UnitedHealth after a 4.57% March…

NOMD $1.6B
D Invests

AI turned my Report into a Video

Google’s NotebookLM turned a 30-page Douglas Dynamics report into an 8-minute video, while Custom GPTs screen earnings transcripts for…

PLOW $850M
Hidden Gems Investing

Alta Fox PBH CN Presentation

Premium Brands Holdings faces margin expansion and free-cash-flow growth as a six-year investment cycle ends, while Alta Fox says its…

PBH $2.1B
Research - Alta Fox Capital 2 clicks

Notes On Next PLC FY26 Results

Next reported FY26 EPS growth of 17% and free-cash-flow growth of 11%, with international expansion, third-party commissions and online…

NXT $15B
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