Blue Tower Asset Management

What they bought and sold · 2 moves

• New positionSM Energy

  June 2026

  “In Q1, we built up positions in Petrobras and SM Energy, which have been a drag on performance.”

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• New positionPetrobras

  June 2026

  “In Q1, we built up positions in Petrobras and SM Energy, which have been a drag on performance.”

  Read the letter→

Companies held · 3

Every company Blue Tower Asset Management has disclosed a position in across our archive, with the letter that last mentioned it.

• Enova InternationalJun 2026
• PetrobrasJun 2026
• SM EnergyJun 2026

Theses · 3

• Enova International, Inc.

  December 2025

  Enova International, Inc. is a data-driven fintech lender compounding through automated underwriting, buybacks, and a transformative Grasshopper Bank acquisition that lowers funding costs, expands products, and is expected to be EPS accretive while trading around 9x FY2027 consensus earnings.

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• Georgia Capital PLC

  December 2025

  Georgia Capital PLC is a Georgian conglomerate with strong portfolio earnings growth, deleveraging and improving insurance ROEs, and it still trades at a discount to NAV despite significant NAV per share gains.

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• TBC Bank

  June 2025

  With dominant market positions in both Georgia and fast-growing Uzbekistan—where it has rapidly gained half the population as customers—TBC Bank Group offers a rare combination of digital scale, high profitability, and emerging market tailwinds that position it for substantial long-term growth.

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Letter archive · 8

Funds · 2

• Blue Tower Asset Management Strategy5
• Blue Tower AM3