Idea Thesaurus #4

Welcome to The Tiger’s Prey and the 4th issue of the Idea Thesaurus!

In this week’s Idea Thesaurus spreadsheet, you’ll find a comprehensive compilation of 270 stock entries. For a detailed breakdown, both in text and as a PNG, please refer to the section below. The file, which you can freely share with your friends and colleagues, is accessible through the following "Download" button:

For the week ended Saturday, Apr 6, 2024, there have been a total of 270 stock entries, o/w:

SUPERINVESTORS: 78 stocks from 12 hedge fund portfolios w/ ≤ 50 positions and ≥ 0.5% portfolio weight and investor letters, o/w:

• SUPERINVESTOR PORTFOLIO UPDATES: 8 stocks favored, including no new positions and 8 additions from 1 hedge fund w/ an avg return of -22.2%.

• INVESTOR LETTER MENTIONS: 70 stocks mentioned w/ a directional stance across 11 investor letters.

ACTIVISTS: 9 stocks from 9 activist investors and activist short sellers, o/w:

• ACTIVIST HEDGE FUND PRESENCE: 1 stocks targeted by 1 activist investors w/ 1 13D activist filings.

• ACTIVIST SHORT CAMPAIGNS: 8 stocks targeted by 8 activist short sellers w/ 7 new and 1 updated campaigns.

INSIDERS: 88 stocks from 150 corporate insiders and politicians, o/w:

• INSIDER BUYING: 86 stocks bought by 148 insiders, including 12 cluster buys, at an avg value of $653.8k, totaling $54.9mm.

• POLITICIAN TRADING: 2 stocks traded by 2 politicians w/ no buys and 2 sells at an avg value of $24.3k.

WRITE-UP PLATFORMS: 28 stocks from an equivalent number of investment write-ups w/ 24 long, 3 short and 1 N/A pitches, o/w:

• VALUE INVESTORS CLUB (VIC): 19 stocks featured w/ 18 long and 1 short pitches published w/ a 45d delay, avging a +1.0% return (adj. for shorts).

• SUMZERO: 9 stocks published w/ 6 long, 2 short and 1 N/A pitches, avging a +0.8% return (adj. for shorts).

SPECIAL SITUATIONS: 4 stock w/ announced and completed spinoffs and mergers & acquisitions, o/w:

• SPINOFFS: 4 stock w/ no new spinoff announcement and 2 completions.

• MERGERS & ACQUISITIONS: [This section will be covered in future issues]

CASH DISTRIBUTIONS: 11 stocks w/ share buyback announcements and dividend commencements or suspensions, o/w:

• STOCK BUYBACKS: 11 stocks w/ share buyback announcements at an avg % of mkt cap of 9.5%, totaling $2.3bn, at current mkt data.

• DIVIDENDS: [This section will be covered in future issues]

PUBLIC OFFERINGS: 15 stocks w/ announced and completed IPOs and SPAC deals, o/w:

• INITIAL PUBLIC OFFERINGS (IPOS): 9 IPOs w/ 5 announced, o/w 3 priced, and 4 completed and avg proceeds of $33.0mm, totaling $132.0mm.

• SPACS & DIRECT LISTINGS: 6 SPAC deals w/ 2 target announcement and 4 de-SPACs, avging a -55.8% return.

STOCK MODIFICATIONS: 20 stocks w/ announced and completed splits, reverse splits and stock symbol changes, o/w:

• STOCK SPLITS: 17 stocks w/ 4 announced and 13 completed reverse splits (avg reverse split ratio of 1:42).

• STOCK TICKER CHANGES: 3 stocks w/ stock ticker changes (4 more covered in the special situations and public offerings sections).

MISCELLANEOUS: 17 stocks w/ CEO resignations, terminations or appointments and index additions or removals, o/w:

• EXECUTIVE MOVES: 17 stocks w/ 15 CEO moves.

• INDEX RECONSTITUTIONS: [This section had no entries this week]

Happy bargain hunting!