Founded in 2006, Voyant Advisors consists of seven investment professionals seeking to identify publicly traded companies that exhibit significant risk of stock price underperformance. The analytical process blends working capital and forensic accounting with in-depth fundamental research to provide clients with differentiated idea generation of companies with significant and unrecognized risk. Voyant primarily publishes analysis of U.S. and European-listed companies in the technology, telecom, consumer, industrial and healthcare sectors with market capitalization of $1 billion and above, and daily trading volume of $15 million and above.

Voyant also provides a variety of consulting services. These include detailed research projects on specific companies, portfolio monitoring services, consulting on complex accounting issues, and management meeting preparation.

The Institutional Research Group (IRG) was formed in January 2008 to produce investment research focused on "special situation" investments, with a focus on spin-off transactions. Three distinct subscription services are published by IRG: The Spin-Off Report, The European Spin-Off & Restructuring Report, and Hidden Opportunities.

The Spin-Off Report and European Spin-Off & Restructuring Report, published in collaboration with Horizon Kinetics, provide detailed analysis of every U.S. and European-listed spin-off transaction.

Hidden Opportunities provides detailed examinations of U.S.-listed small and mid-cap companies that trade at compelling discounts to their sum-of-the-parts valuations with potential for a value-unlocking event such as spin-off or asset sale.

The Horizon Research Group, founded in 1994 and headed by Murray Stahl, consists of ten investment analysts responsible for the publication of five distinct research services. These services cover a range of investment strategies and asset classes. Three services are dedicated to the identification of undervalued companies, while others are focused on short sale opportunities, fixed-income investing, and spin-off transactions.

In addition to the publication of comprehensive investment recommendations, Murray holds a weekly meeting devoted to the discussion of investment ideas and themes within the scope of one particular research service. The scope of each week’s discussion rotates between the areas covered by the seven research services. These meetings produce the Compendium reports which are included as part of each service. These publications provide Murray with a forum for discussing investment themes and framing new company-specific investment theses. The Compendium reports have also been the primary channel through which Murray has communicated his views on Bitcoin and other cryptocurrencies.

Madera Technology Partners was founded in 2014 with the idea of blending real-world, fundamentally-driven investment management experience with expertise in alternative data analysis and disruptive technology. This unique approach to data-driven investing allows for the extraction of meaningful and often unrecognized information from a wide variety of unconventional data sources and the incorporation of these insights into a deep understanding of company fundamentals.

Madera utilizes their proprietary JSTARS platform to uncover hidden relationships and trends while leveraging a vast range of alternative data sources beyond commoditized, vendor-provided datasets. Applying this differentiated method of sourcing information allows Madera to make better informed conclusions creating a true investment edge. Madera provides buy-side clients with actionable investment ideas and notable data trends through a subscription-based product and consulting services.

Clients receive a monthly report updating them on key trends across a range of sectors without any noise or need for additional analysis. Reports recommending to buy or sell short specific securities are also published routinely. These reports may focus on specific data points indicating fundamental business improvement or deterioration, or may be more qualitative in nature where a fundamental view, often contrary to consensus, is articulated.

Chain Bridge Research publishes three independent research services producing investment recommendations in global mergers and acquisitions, capital structure arbitrage, and other areas of event-driven and special situation investing. Krisztian Szentessy, with over 14 years of experience in equity markets, leads the analyst team. He is joined by four other analysts.

Three regionally focused M&A services cover every transaction in Europe, Asia and the Americas with a target market capitalization greater than $500 million. Each service provides in-depth fundamental research and trading analysis on every deal. Daily notes and weekly updates keep clients current on all deals under coverage, supplemented by ongoing news and deal analysis covering legal issues, sector strategies, counter-bidders, valuations and timing. Extensive research on potential acquisition targets is also provided.

Founded by Jeffrey Miller in 2017, and drawing upon his experience on the sell-side and buy-side of the banking industry, FocusPoint addresses the signficant conflicts and shortcomings of traditional bank research by providing truly unique and actionable long and short sale recommendations across the banking sector.  With over 500 publicly-traded banks, the U.S. banking sector offers ample opportunities for misunderstood and under-followed investments to create alpha for investors. The service also provides clients with detailed examinations of every bank IPO before the company comes public.

18 to 24 investment recommendations are published annually, as well as weekly and monthly reports that track relevant newsflow and key financial topics for banking investors. FocusPoint utilizes a proprietary screening model that combines the main drivers of bank stock performance with catalysts for valuation realization.  Investable ideas generally fall into three categories: turnaround/restructuring stories where management is focused on problem resolution, misunderstood M&A transactions, and recent IPOs lacking unbiased research coverage. Short-ideas are more prevalent during economically stressed time periods, and generally focus on poor management and weak credit and capital controls.