144 investment ideas from 92 funds across 116 stocks. Every thesis and quote on this page comes from a fund manager's own investor letter, not a 13F filing, so you can see the reasoning, risks and conviction behind each Consumer, Retail & Leisure position.
LongAAPLSep 2026
Apple's thesis rests on the strength of its consumer ecosystem, loyal customer base, recurring services revenue and balance sheet. The fund highlights the first foldable iPhone as a potential catalyst for a future upgrad
LongGRMNSep 2026
Garmin is viewed as a diversified collection of specialized businesses across fitness, outdoor recreation, marine and aviation markets rather than simply a consumer GPS company. The fund believes product reliability, bra
LongGXO
Khrom sees GXO's strategic reset under CEO Patrick Kelleher as an opportunity to improve organic growth, customer retention, pricing discipline and margins. The sales pipeline has expanded to a record level and new busin
LongDASH
Khrom initiated DoorDash after the shares had fallen roughly 45% from their October 2025 high, believing the market was underestimating the durability of its competitive advantages and the size of its long-term opportuni
LongAMCR
Khrom believes Amcor's merger with Berry Global has strengthened its competitive position through greater scale, a more consolidated industry structure and stronger purchasing power. Management expects at least $650 mill
LongPTB
Phu Tai is presented as an example of a significant disconnect between market sentiment and operating fundamentals in Vietnam. First-half 2026 revenue rose 18.5% year over year to a record level and net profit increased
LongRAA
Rational continues to deliver solid underlying performance, with Q2 sales up 4% year-over-year and EBIT up 16%, while Europe and North America remained strong. China has been weaker as Yum China shifts procurement toward
LongRBREW
Royal Unibrew's Q2 results were softer as higher input costs and increased sales and marketing investment pressured margins, while Northern European volumes were weak. The higher spending partly reflects deliberate inves
LongSUZ
Horos initiated a position in Suzano after reallocating capital away from stainless steel. Suzano is the world's largest pulp producer, with capacity almost three times that of its nearest competitor, and has expanded in
LongMCD
Matrix initiated a new partial position in McDonald's as the shares traded near a 52-week low. The fund views the company's historical financial performance as resilient, supported by a franchise model in which approxima
LongW
Wayfair delivered another strong quarter with high-single-digit revenue growth and material EBITDA expansion. After visiting the company's new Columbus store, the fund became increasingly convinced that physical retail c
LongCVNA
Carvana's retail units sold continued to grow at approximately 40% year over year. A visit to the Cleveland reconditioning center reinforced the fund's positive view of the quality, ambition and energy of leadership belo
“we believe its combination of innovation, brand strength, and shareholder-friendly capital allocation remains highly attractive.”
“Garmin's collection of leading positions in attractive niche markets is often overlooked”
“At today’s valuation we believe GXO offers one of the more asymmetric risk/reward profiles in our portfolio.”
“This concern accelerated the selloff and, in our view, created our opportunity.”
“Each component of our original thesis—volume normalization, substantial merger synergies, portfolio improvement, and deleveraging—is now beginning to materialize.”
“At 4.3x earnings, we do not need an optimistic scenario to generate an attractive return.”