Long Cast Advisers
Our archive holds 7 letters from Long Cast Advisers, behind 9 investment theses and positions in 6 companies. Every quote below is copied verbatim from the letter it came from.
Long Cast Advisers’s own letters pageWhat they bought and sold · 3 moves
- AddedQRHCJune 2026
“I am patiently putting available cash to work, recently adding to QRHC, which has lapped negative revenue comps”
Read the letter - ExitedCCRNJune 2026
“We substantially added to NRC and exited CCRN, which was acquired, returning a solid after-tax IRR despite the unavoidable short-term treatment.”
Read the letter - AddedNRCJune 2026
“On NRC, our newest investment, I discussed the company’s evolution from owner / operator to professionally led management team”
Read the letter
Companies held · 6
Every company Long Cast Advisers has disclosed a position in across our archive, with the letter that last mentioned it.
Theses · 9
- June 2026
PDEX could benefit from Zimmer’s mBos robot commercialization, with potential for a major operating cash flow transformation and much higher corporate value.
Read the full thesis - June 2026
NRC combines a stronger management team, strong free cash flow, record backlog, and potential growth from a larger second-year contract.
Read the full thesis - June 2026
PESI has growing backlog at Hanford and could benefit from a large long-term waste processing opportunity.
Read the full thesis - March 2026
MTRX is a small construction company with improving profitability, tailwinds, and potential for backlog and earnings growth at a low valuation.
Read the full thesis - March 2026
PDEX is a critical contracted supplier with near-term earnings support and long-term upside tied to Monogram’s commercialization and valuation rights.
Read the full thesis - March 2026
MAMA is a management-driven compounder with strong book value growth and potential to become a $1B revenue company.
Read the full thesis - December 2025
Matrix Service Company could be rerated if profitability emerges against a large backlog, with potential incremental tailwinds from a resumption of heavy Venezuelan crude processing.
Read the full thesis - December 2025
Cross Country Healthcare is a nurse staffing company with net cash, low valuation, and potential margin improvement under returning founder Kevin Clark and exposure to higher-margin niches.
Read the full thesis - December 2025
National Research Corporation is an owner-operated healthcare survey and consulting firm with high margins, new leadership, improving deferred revenue, and supportive industry consolidation signals.
Read the full thesis
Letter archive · 7
2025
Funds · 2
- Long Cast Advisers6
- Long Cast Advisers Small- & Micro-Cap Concentrated Strategy1
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