Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>AppLovin recently released its earnings report for the fourth quarter and the fiscal year ending December 31, 2025, detailing significant growth, profitability, and future expectations.</li><li>The company achieved impressive financial results, driven by advancements in mobile gaming technology, seasonal factors, and a robust e-commerce initiative.</li><li>Revenue for the fourth quarter reached $1.66 billion, a 66% increase year-over-year, and the adjusted EBITDA was $1.4 billion, indicating significant profitability with an 84% margin.</li></ul>

AppLovin recently released its earnings report for the fourth quarter and the fiscal year ending December 31, 2025, detailing significant growth, profitability, and future expectations.The company achieved impressive financial results, driven by advancements in mobile gaming technology, seasonal factors, and a robust e-commerce initiative.Revenue for the fourth quarter reached $1.66 billion, a 66% increase year-over-year, and the adjusted EBITDA was $1.4 billion, indicating significant profitability with an 84% margin.

Inside AppLovin’s Algorithmic Moat: How Advanced Bidding and Machine Learning Defend Market Leadership!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>
<a href="https://smartkarma.com/entities/applovin-corp">AppLovin </a>is a leading mobile technology company operating a comprehensive platform for app developers to market, monetize, and analyze their applications. Its integrated business model, combining a powerful ad-tech software platform with a portfolio of first-party mobile games, creates a significant data advantage.</li>
 <li>The company is experiencing hyper-growth, driven by its advanced AI-powered advertising engine, AXON. Financial performance has been exceptional, with substantial year-over-year increases in revenue and a dramatic improvement in profitability and free cash flow generation.</li>
 <li>Future growth is expected to be fueled by the expansion of its ad platform into non-gaming verticals like e-commerce and Connected TV (CTV), and the global rollout of its self-service ad manager. However, the company faces key risks including intense competition, reliance on the volatile advertising market, and evolving data privacy regulations.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
AppLovin is a leading mobile technology company operating a comprehensive platform for app developers to market, monetize, and analyze their applications. Its integrated business model, combining a powerful ad-tech software platform with a portfolio of first-party mobile games, creates a significant data advantage.
  The company is experiencing hyper-growth, driven by its advanced AI-powered advertising engine, AXON. Financial performance has been exceptional, with substantial year-over-year increases in revenue and a dramatic improvement in profitability and free cash flow generation.
  Future growth is expected to be fueled by the expansion of its ad platform into non-gaming verticals like e-commerce and Connected TV (CTV), and the global rollout of its self-service ad manager. However, the company faces key risks including intense competition, reliance on the volatile advertising market, and evolving data privacy regulations.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>Technology dominates global active portfolios, with 8 of the 11 most widely held stocks coming from the sector.</li>
<li>TSMC hits record ownership at 65.7% of funds, becoming the second most widely held stock globally.</li>
<li>Broadcom, Tencent and Alibaba see rising adoption, while Novo Nordisk and UnitedHealth face sharp ownership declines.</li>
</ul>


Technology dominates global active portfolios, with 8 of the 11 most widely held stocks coming from the sector.
TSMC hits record ownership at 65.7% of funds, becoming the second most widely held stock globally.
Broadcom, Tencent and Alibaba see rising adoption, while Novo Nordisk and UnitedHealth face sharp ownership declines.


Global Stock Positioning: Tech Dominance, China Rotation, and Record TSMC Ownership

Market Intelligence, ORTEX

ORTEX Market Intel

Market Intelligence

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

<ul><li>Short sellers made decisive moves this week ending September 26.</li><li>Energy refining ETF CRAK saw SI hit 36.8% of float - up 38% in seven days.</li><li>Mortgage REIT RWT saw the sharpest build, with SI surging 215% to 22.1% of float as borrow dried up.</li></ul>

Short sellers made decisive moves this week ending September 26.Energy refining ETF CRAK saw SI hit 36.8% of float - up 38% in seven days.Mortgage REIT RWT saw the sharpest build, with SI surging 215% to 22.1% of float as borrow dried up.

Bears Charge Into Energy and Real Estate; Silver Shorts Flee

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Thematic (Sector/Industry)

Key points (machine generated)<ul><li>The strategy involves buying put options on low-priced PARC stocks (Palantir, Applovin, Robinhood, Coin) for potential high returns.</li><li>Investors are advised to allocate 1.5 to 2% of their portfolio to these puts to hedge against market downturns.</li><li>This method allows for a one-way bet with limited loss exposure, effectively de-risking the portfolio without directly targeting the stocks.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)The strategy involves buying put options on low-priced PARC stocks (Palantir, Applovin, Robinhood, Coin) for potential high returns.Investors are advised to allocate 1.5 to 2% of their portfolio to these puts to hedge against market downturns.This method allows for a one-way bet with limited loss exposure, effectively de-risking the portfolio without directly targeting the stocks.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Parc Stocks (PARC) - Thursday, Aug 7, 2025

United States

AppLovin Corporation provides software solutions. The Company offers an end-to-end software that optimizes monetization, and uses machine learning to make data-driven marketing decisions for profitable growth. AppLovin serves clients worldwide.

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AppLovin (APP US)

Inside AppLovin’s Algorithmic Moat: How Advanced Bidding and Machine Learning Defend Market Leadership!

AppLovin recently released its earnings report for the fourth quarter and the fiscal year ending December 31, 2025, detailing significant growth,...

Baptista Research

Primer: AppLovin (APP US) - Dec 2025

AppLovin is a leading mobile technology company operating a comprehensive platform for app developers to market, monetize, and analyze their...

αSK Primers

Global Stock Positioning: Tech Dominance, China Rotation, and Record TSMC Ownership

Technology continues to anchor global active portfolios, with TSMC at record ownership. Rotation persists across regions as managers selectively...

Steven Holden

Bears Charge Into Energy and Real Estate; Silver Shorts Flee

Short sellers made decisive moves this week ending September 26. Energy refining ETF CRAK saw SI hit 36.8% of float - up 38% in seven...

ORTEX Market Intel

Parc Stocks (PARC) - Thursday, Aug 7, 2025

The strategy suggests buying put options on low-priced PARC stocks to hedge against downturns, potentially yielding significant returns if they...

Value Investors Club (VIC)

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