A selection of covered names. Every thesis and price target was published publicly before the stock moved — timestamped and verifiable. The full archive is on Substack.
A closed-end alternative asset manager trading at a persistent discount to NAV, with a high-quality GP co-investment portfolio and a clear re-rating thesis. Discount compression was the driver — the fundamental work identified it before the market closed the gap.
Read the Report →A Canadian transformer manufacturer with structural tailwinds from grid electrification and data centre build-out. The thesis was built from capacity order data and filing forensics before the broader market recognized the magnitude of the demand shift.
Read the Report →A global accessibility solutions platform with a durable recurring revenue base and a post-acquisition margin expansion story the market had underpriced. The modeling work on integration costs and margin normalization was the core of the thesis.
Read the Report →A niche water treatment firm with proprietary bioreactor technology and long-term mine-water contracts. The business model was poorly understood by the market — the filing work clarified revenue quality and contract duration in a way that market commentary hadn't.
Read the Report →Track Record Disclosure: Returns shown are from publicly published initiation date to approximately June 2026. Approximate current prices are sourced from public market data and may not reflect real-time trading prices. Past performance does not guarantee future results. Coverage shown is a selection of the 23+ names covered — it does not represent all positions, and performance of uncovered names is not reflected. All sponsored coverage is clearly disclosed. Nothing here constitutes investment advice. Not all recommendations have been profitable.
Four example reports — two initiations, two earnings reviews. This is what you commission.
Full institutional-format initiation. Business overview, primary-filing financials, DCF and comparable valuation, thesis, price target, bear case.
Full institutional-format initiation. Healthcare IT platform analysis, ARR build, margin trajectory, multi-model valuation and explicit thesis.
Full initiation on a fintech lender. Credit quality forensics, loan book analysis, yield and loss rate modeling, DCF and peer valuation.
Quarterly earnings review. Results vs. estimates, backlog analysis, model update, thesis check — the format delivered each reporting period under ongoing coverage.
Every report starts from SEDAR+ and SEC source documents. MD&As, AIF, financial statements — the actual filings, not summaries.
Line-by-line statement analysis. Working capital, cash conversion, accrual ratios, segment breakdowns — everything the summary numbers obscure.
DCF, EV/EBITDA comparables, NAV, FCF yield — whichever frameworks fit the specific business. Assumptions are explicit and sensitivity-tested.
An explicit price target and stated bear case before publication. If the bear case can't be built credibly, the thesis isn't ready.