Fiduciary Management
Our archive holds 5 letters from Fiduciary Management, behind 15 investment theses. Every quote below is copied verbatim from the letter it came from.
Fiduciary Management’s own letters pageTheses · 15
- 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.
Read the full thesis - 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.
Read the full thesis - 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.
Read the full thesis - 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.
Read the full thesis - December 2025
Accenture is the leading global IT consultant poised to benefit from enterprise AI adoption despite cyclical headwinds and a significantly reduced valuation.
Read the full thesis - 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.
Read the full thesis - September 2025
Becton Dickinson is a leading medical supply company poised for growth and value unlocking through strategic simplification and a strong focus on recurring revenue.
Read the full thesis - September 2025
Greggs is a well-positioned, vertically integrated food-on-the-go operator with strong brand loyalty, facing short-term challenges but having substantial growth potential through new store openings and a solid financial outlook.
Read the full thesis - September 2025
OneMain is a leading player in nonprime personal lending with potential for growth and resilience despite a challenging macro environment.
Read the full thesis - March 2025
Allegion is a leading global provider of security solutions with a strong market position, attractive growth potential, and currently undervalued stock.
Read the full thesis - March 2025
FirstCash Holdings, Inc. is a leading pawn operator that offers defensive, low-risk loans and is well-positioned for strong growth due to industry consolidation and regulatory barriers against new competition.
Read the full thesis - March 2025
Sodexo S.A. is a leading caterer and facilities manager with strong growth potential due to its market share advantages, operational efficiencies, and current undervaluation despite recent execution challenges.
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- Donaldson Company Inc.Dec 2024
- Edenred SEDec 2024
- Progressive Corp.Dec 2024
Letter archive · 5
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