Fiduciary Management

Dec 2024 → Jun 2026 · Publishes quarterly · 2 funds

Our archive holds 7 letters from Fiduciary Management, behind 21 investment theses and positions in 17 companies. Every quote below is copied verbatim from the letter it came from.

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Fiduciary Management’s own letters page

Letters

Companies

Moves

Theses

Companies held · 17

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

Theses · 21

FTI Consulting Inc.
June 2026
FTI Consulting is a durable global consulting franchise with strong competitive advantages, resilient crisis-driven demand, achievable mid-single-digit organic EBITDA growth, and an attractive valuation after temporary headwinds.
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Capital One Financial Corp
June 2026
Capital One Financial Corp has a value-creating Discover acquisition, AI-enabled operating advantages, and a discounted valuation that could support higher returns and a re-rating.
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Fluidra S.A.
June 2026
Fluidra S.A. is a resilient pool equipment business with repair-and-replacement revenue, pricing power, high margins, strong returns on invested capital, and an attractive valuation.
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FTI Consulting Inc.
June 2026
FTI Consulting is a durable consulting franchise with strong competitive advantages, manageable AI risk, achievable mid-single-digit organic EBITDA growth, and an attractive valuation.
Read the full thesis
Capital One Financial Corp
June 2026
Capital One is a large U.S. bank and card issuer with Discover-driven synergies, AI-enabled operating leverage, a strong management team, and re-rating potential.
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Fluidra S.A.
June 2026
Fluidra is a pool equipment leader with recurring repair-and-replacement revenue, pricing power, high margins, strong ROIC, and valuation support.
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Huron Consulting Group Inc.
March 2026
Huron Consulting Group is a leading advisor to hospitals and universities with entrenched relationships, durable demand, and a path to double-digit EPS growth at a low-teens P/E.
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Booking Holdings Inc.
March 2026
Booking Holdings is the largest online travel agency with powerful network effects, high returns and resilience to AI disruption, trading at a mid-teens earnings multiple.
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IMCD N.V.
March 2026
IMCD is a global specialty chemicals distributor with resilient life-science exposure and scale advantages, poised for cyclical recovery and double-digit EPS compounding at a discounted valuation.
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Hayward Holdings Inc.
December 2025
Hayward Holdings is a leading residential pool equipment maker with resilient installed-base demand, pricing power, strong margins and ROIC, and an attractive valuation despite cyclical weakness.
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Accenture PLC Class A
December 2025
Accenture is the leading global IT consultant poised to benefit from enterprise AI adoption despite cyclical headwinds and a significantly reduced valuation.
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Smiths Group PLC
December 2025
Smiths Group is streamlining into higher-growth industrial technology businesses with improved margins, strong balance sheet, and undervalued shares relative to fundamentals and break-up value.
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Letter archive · 7

2026

2025

2024

Dec 2024Fiduciary Management

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