LongPLJul 2026
Planet Labs PBC
Planet Labs remains a meaningful portfolio position, but Gallagher materially reduced the stake after it had been the portfolio's largest holding for much of the prior four…
Unconventional Value
Concentrated public-equity stock-picking focused on companies benefiting from structural change, competitive advantages and long-term compounding.4 published ideas
Unconventional Value is the investment publication and public portfolio of Tim Gallagher. The approach concentrates capital in individual companies where Gallagher believes fundamental business progression, structural change and valuation create attractive long-term return opportunities.
Ideas from Unconventional Value
LongRELYJul 2026
Remitly Global, Inc.
Gallagher increased his investment in Remitly as its cross-border remittance volumes continued to grow above 30% while operating leverage became increasingly visible. Incremental…
LongPGYJul 2026
Pagaya Technologies Ltd.
Pagaya became the portfolio's largest position after Gallagher redeployed much of the proceeds from trimming Planet Labs. He views Pagaya as a data network positioned to benefit…
LongMNTNJul 2026
MNTN, Inc.
Gallagher initiated a position in MNTN after the recently listed shares fell almost 70% from their IPO level despite continued improvement in the underlying business. MNTN brings…
Letters covered
- Mid Year 2026 – Public Investment LetterJuly 27, 2026
Source PDFs are not republished here; only extracted ideas and quotes.