Alan Brochstein, CFA

Legendary investor Ricky Sandler's firm, Eminence Capital, is shutting down after 27 years of business > Originally founded in 1999 by Ricky Sandler, who began his investing career in 1991 at Mark Asset Management > Sandler co-founded Fusion Capital with Wayne Cooperman, son of the legendary Leon Cooperman who started Omega Advisors. > Fusion was a long/short equity fund that performed well but ultimately shut down after being strained by the blow up of Long Term Capital Management (LTCM). Highly recommend giving the book "When Genius Failed" a read for a deeper dive into LTCM > Founded Eminence in 1999 as a long/short equity firm with a bottoms-up fundamental research focused approach > One of their highest profile deals was the activist campaign on The Men's Wearhouse & Jos A Bank in 2013, when Eminence took a 9.8% and 4.9% stake, respectively, in each company to push towards an M&A transaction The two companies ended up merging in June 2014 for roughly $1.8 billion > In recent years, they have taken on activist campaigns in companies such as Entain, where he argued for divestment of their BetMGM stake to monetize value for shareholders > Latest AUM number is close to $6 billion with last 3 year annualized returns of +7.35%, according to TipRanks > Some of their largest positions include Amazon, Sea, Louisiana Pacific, Workiva and Coupang, based on 13F filings