New Idea On SSI - A confluence of catalysts set to unlock substantial SOTP discount in mid-2024. - Conservative scenario forecasts 50% upside; 100-200% gains seem more likely as catalysts unfold. - The stock has been obscure for a long time, but all of that is about to change.

Finding freely available industry research can be challenging, which is why every quarter I share all the industry deep dives/outlooks I come across with you. So, here is the new list of 10+ industry deep dives that can help you accelerate your research. Enjoy! 👇

10/ And to wrap it up, here are a couple of decent industry primers/outlooks from big consulting firms. Overview of the Asset Management Industry in the US by McKinsey: shorturl.at/gnxES Telecom Industry Outlook from Deloitte: shorturl.at/JKUW0

11/ Will be sharing anything I come across on a quarterly basis, so stay tuned. Meanwhile, if you have any nice industry deep dives, feel free to share, and I will make sure to include them in the next one. Here is the last edition with 10 more primers: twitter.com/InvestSpecial/…

This $BATL arb sits at a 40% spread. Closing expected in a couple of quarters. Oak Tree - i.e. Howard Marks - is rolling its equity stake. Too good to be true? I made a full review of the situation: specialsituationinvestments.com/2024/01/quick-…

Quite a few interesting ideas shared here. Evaluating most of these myself.👇

Hoisington Investment Management's Q4 review is out. As usual, their macro reviews are a great read.👇 Full letter: hoisington.com/pdf/HIM2023Q4N…

10/ Galloway Capital Small-cap-focused value and activist fund primarily focused on energy-related names. The fund usually establishes a stake between 5% to 10% in the company and then pushes for a strategic review with an eventual sale in mind or requests board representation.

11/ Bonus section. These funds were not very active last year, but it does not hurt to follow them, too: - Ancora Advisors - JEC II Associates - Voss Capital - Engine Capital - Edenbrook Capital

End/ That ends my list of activist funds worth tracking for new investment ideas. Should any others be on this list? (I am sure I’ve missed many). Drop your suggestions in the comments below.

For example, he just announced his attempt to acquire $RPHM, a busted biopharma, at a slight discount to net cash plus 80% of the potential proceeds from the sale of the pipeline assets as part of the CVR. There is an 8% spread to the cash offer. sec.gov/Archives/edgar…

Recently, Arex Capital has been involved with $EHAB, pressuring the company to explore strategic alternatives with the aim to sell the entire business. Soon after, EHAB announced a strategic review that seems to be heading in the right direction thus far. globenewswire.com/news-release/2…

9/ Arex Capital is a mid-cap focused value-plus activist investing fund. Most of the time, the company establishes a minority stake in the firm and then publicly pushes for the exploration of strategic alternatives with the aim to either sell, spin-off or liquidate the company.

Currently, Carlo Cannell (owns 6.6%), along with Mario Gabelli (owns 10%), are involved with $SPWH. Both parties have expressed interest in nominating their candidates to the board. It’s not yet clear what the next steps for the activists are. sec.gov/Archives/edgar…

8/ Carlo Cannell is a small-cap/mid-cap activist investor. Cannell's playbook usually revolves around taking a minority stake in the business (3-6%) and then either pushing for operational changes or a combination of an outright business sale or the sell-down of non-core assets.

Papas, along with several other investors (owning 17%), pushed for the sale of $FARM's non-core seg to pay down debt and appoint 3 new members, including Bradley Radoff to BoD. Given the recent dynamics, a potential outright sale could be in the cards. sec.gov/Archives/edgar…

7/ JCP Investment Management Small activist hedge fund led by James Pappas. Often, he likes to accumulate a large stake (10-20%) in a target before inserting its nominees into BoD while pushing for a sale or a strategic shift. Occasionally, Pappas takes the board seat himself.

$MTCR is a clear example from last year of their public activism. They pushed for the liquidation of a company that was undergoing a value-destructive reverse merger. Currently, BML is involved in the above-noted $RPHM case along with Tang Capital. sec.gov/Archives/edgar…

6/ BML Investment Partners Small-cap value/special sits fund increasingly focusing on busted biopharma plays. Currently, BML holds a basket of net-net biopharmas waiting for resolutions either through a liquidation or a buyout. Occasionally they step into an activist role, too.

Since the start of last year, Driver Management has been trying to nominate a slate of 3 nominees to the board of a small community bank, $ASRV. The entrenched board even tried to stop the proxy campaign via a lawsuit, but so far, it has not been successful.