360 Huntington Fund

Two contrasting strengths — one anchored in industrial transformation, the other in digital innovation. ⚡ Eaton Corporation (NYSE: ETN) — pitched by Duc Nghia Phan, Santiago Navarro-Plata and Alex ding. Eaton is a global power management leader operating in 170+ countries, with growing exposure to AI-driven data centers and grid modernization. Supported by strong government investment and rising electrification trends, Eaton has shown solid growth with expanding margins and consistent cash generation. ☁ Nutanix Inc (NASDAQ: NTNX) — pitched by Shivam Kukreja, Fadi Boustani and Aditya Mehrunkar. Nutanix specializes in hybrid multi-cloud software, helping enterprises integrate storage, networking, and computing. The team discussed Nutanix’s strong ARR growth, solid cash flow margins, and strategic partnership with Cisco, positioning it to capture demand as cloud infrastructure continues to evolve. #EquityResearch #Investing #Valuation #StockPitch #PortfolioManagement #Finance

This week featured two analyst-led pitches that explored opportunities in real estate and information technology. 🏢 Public Storage (NYSE: PSA) — pitched by Dhruv Rishi, Hitee Sachdeva and Nila Kandavel. Public Storage is the largest U.S. self-storage operator, with about 12% industry share. The pitch highlighted PSA’s scale, rent growth and $3B+ in acquisitions since 2023. 🌐 Arista Networks (NYSE: ANET) — pitched by Michael Janes, Devang Pethkar and Ciara O'Brien. Arista is a leader in cloud and AI networking, serving 10,000+ customers with its EOS software and high-performance switches. With strong ties to hyperscalers, the company is positioned to benefit from AI-driven demand. In discussion, it was noted that for high-growth stocks like Arista, the H-model can be more suitable than a constant-growth model, since it reflects growth that is initially rapid but gradually slows to a stable long-term rate. It was also discussed that at times a stock dips on speculation but typically rebounds, showing the resilience of its fundamentals. Two stories: one built on resilient, cash-generating real estate, the other on cutting-edge networking technology powering the AI era. #360HuntingtonFund #EquityResearch #Investing #Valuation

First Pitches of the Fall 2025 Semester The semester kicked off with two strong pitches from the Sector Managers. 🎬 Dolby Laboratories (NYSE: DLB) — pitched by Vibhor Bhatt, Josh Gutierrez and Prachi Gosalia, ACA. Dolby is a global leader in premium audio and imaging, with Atmos and Vision setting standards across entertainment. Licensing contributes 90%+ of revenue and supports margins near 90%, with technologies licensed to over 1,000 manufacturers worldwide. The team highlighted Dolby’s resilience, strong cash generation, and growth opportunities in auto, streaming, and gaming. 🏡 Opendoor Technologies (NASDAQ: OPEN) — pitched by Huy Pham, Sam French and Yash Khanter. The largest U.S. iBuyer with ~35% market share, Opendoor uses AI and data to simplify home sales, offering sellers speed and certainty. The pitch emphasized leadership changes focused on efficiency, expansion of Opendoor Complete, and potential benefits from lower mortgage rates. Together, these factors show how Opendoor is positioning for profitability in a competitive housing market. A strong start to the semester with two distinct stories, one built on proven IP strength, the other on disruptive innovation in real estate. Looking forward to the analysts’ pitches in the weeks ahead🚀 #360HuntingtonFund #EquityResearch #Investing #Valuation

📊 Learning Bloomberg 📊 Before beginning their first stock pitches, the new Analyst Class attended a Bloomberg Lab session. The sector managers introduced the Bloomberg Terminal, demonstrating how to navigate the platform, source financial data, and select the information most relevant for building valuation models. The session provided a strong starting point for the research and modeling work that lies ahead. 💡 Tip: Functions like RV <GO> (Relative Valuation) allow quick peer comparison on key multiples, making it easier to benchmark a company against its industry. #360HuntingtonFund #Bloomberg #EquityResearch

✨A New Semester Begins at the 360 Huntington Fund✨ Earlier this week, we welcomed our new Analyst Class in our first meeting of the semester. Our Managing Director, Tejasvee Satwani along with Chief of Research,Tirth Gosar introduced the Fund by walking through our performance, key goals, and plans for the future. To give our incoming analysts a sense of what a stock pitch looks like, Annanya Gaba and Tirth Gosar revisited a past pitch from our portfolio. The presentation highlighted the overall structure, flow, and key elements of a typical pitch, helping new analysts understand what to expect as they begin preparing their own. We are also excited to introduce the new management team: Managing Director – Tejasvee Satwani Chief of Research – Tirth Gosar Accounting Officer – Depak Subramaniyan Operations Officer – Srujan Kalyankar Marketing Officer – Annanya Gaba Risk Officer – Tanvi Keskar Sector Managers – Sam French, Huy Pham, Vibhor Bhatt, Josh Gutierrez, Prachi Gosalia, ACA, Yash Khanter Advisors – Sandeep Nalamaru, Harsh Vora Junior Risk Officer – Shoaib Ansari We’re also sharing a snapshot of the Fund’s current portfolio standing in an image below. We look forward to an engaging and productive semester, filled with new ideas, collaborative learning, and impactful pitches. 📈

Sonali Jena and Depak Subramaniyan recently presented about Interactive Brokers: a global, technology-driven brokerage with a durable competitive moat and a track record of innovation. 📍 Global Reach & Product Breadth – Access to 160+ exchanges in 36 countries, 28 currencies – Broad suite: equities, ETFs, options, futures, forex, bonds, mutual funds, precious metals, crypto, and forecast contracts – Integrated services: self-clearing, custody, prime brokerage, securities lending, cash sweep, and margin financing 💻 Technology & Scale Advantages – Industry-leading platforms (Trader Workstation, GlobalTrader, IBKR Mobile, Client Portal, APIs) with built-in real-time short availability – Scale-driven cost advantage allows IBKR to undercut competitors on execution costs while maintaining high margins 🚀 Growth Catalysts – Global market expansion through new exchange memberships and broader asset class coverage – Product diversification into forecast contracts, crypto, and precious metals driving new revenue streams – Growth in high-margin ancillary services like margin financing, securities lending, and prime brokerage – Continuous tech innovation enhancing user experience and deepening client stickiness across retail, active traders, and institutions Thesis: With unmatched technology, global market access, and multiple growth levers, IBKR is well-positioned to capture rising global trading volumes and increase wallet share, delivering sustainable earnings growth. #360HuntingtonFund #EquityResearch #FinTech #TradingPlatforms #IBKR

We recently dove into D-Wave Quantum (NYSE: QBTS), presented by Aditi Subramanya and Sam French: the world’s only revenue-generating, commercial-grade quantum computing company, pioneering quantum annealing for real-world optimization problems. They’ve grown to 133 customers , spanning Fortune 2000 enterprises, governments, and research institutions and posted Q1 FY25 revenue of $15M (up 509% YoY) with record $304M in cash. Management expects current cash to fund them to profitability, with 92.5% gross margins showing the scalability of their model. 🧠 Flagship Tech: Quantum Annealing – Only commercial quantum annealer deployed today – Live via Leap™️ cloud, solving logistics, AI/ML optimization, financial modeling, and drug discovery problems – Differentiates from gate-model peers still in R&D 📈 Pipeline at a glance: – 5,000-qubit Advantage2 system in market – 5+ late-stage enterprise/government programs – $1.5B+ addressable TAM in optimization by 2033, growing at 36.5% CAGR 📍 Near-term catalysts: – Government contracts (NASA, U.S. Air Force) and enterprise deals (J.P. Morgan, Volkswagen) expanding use cases – AI/ML workload integration for faster, more efficient model training 💵 Cash position: – $304M cash & equivalents, no financing overhang – Capital-light SaaS-driven scale potential Thesis: With first-mover advantage, strong IP, and real-world revenue traction, QBTS is positioned for asymmetric upside as optimization demand accelerates and quantum adoption expands. #360HuntingtonFund #EquityResearch #QuantumComputing #AI #Optimization #QBTS

What an amazing summer! I am happy to announce that The 360 Huntington Fund at D'Amore-McKim School of Business at Northeastern University has surpassed ** $2M ** in Net Asset Value! This is a Graduate Student-run mutual Fund for Northeastern University, that started with $25K in student donations in 2007. We now celebrate our 18th Year in September! Thanks to The Students of The Fund, Nicole Boyson Platt Marjorie @HarlanPlatt Paul Bolster Lawrence Rakers for all of their help, advice and counsel ! -Prof. Scott Schoen D'Amore-McKim School of Business Northeastern University

We recently dove into Harmony Biosciences (NASDAQ: HRMY): a rare-disease biotech that’s actually profitable, cash-flow positive, and quietly building a pipeline in high-value CNS disorders. 🧠 They’ve grown from $6M in revenue back in 2019 to $714M today, with 27% margins and $221M in free cash flow, more than enough to fund their entire R&D pipeline through 2029 without raising more capital. Pretty rare in biotech. 💊 Flagship drug: WAKIX® – Only FDA-approved H3 receptor antagonist – Protected through 2027 and patents through 2039 🧪 Pipeline at a glance: – 5+ late-stage programs targeting ~240K patients – Combined ~$1.8B in peak sales potential – Includes new use cases like PWS, DM1, and high-dose/generalized RBD extensions 📍 What’s coming up: – 6 clinical trial results expected over the next year – Even a few positive results could meaningfully shift valuation 💵 Cash position: – ~$700M in cash and tax assets – Capital-light and efficient: no financing overhang Harmony doesn’t look like your typical small-cap biotech. It’s already profitable, has room to grow, and doesn’t need to dilute to stay in the game. Super solid name to watch as more catalysts roll in! This thesis was presented by our equity research analysts Vibhor Bhatt and Jacob Blair at the 360 Huntington Fund. #360HuntingtonFund #EquityResearch #Biotech #RareDisease #CNS #CashFlowPositive #WAKIX

With AI driving a surge in electricity demand, our latest stock pitch spotlighted Constellation Energy (NYSE: CEG), the largest carbon-free power producer in the U.S. ⚡ Presented by Senior Analysts Prerana Jadhav and Hemanisha Mahendiran, the team unpacked how CEG is uniquely positioned at the intersection of nuclear reliability, hyperscaler demand, and clean energy policy. 💡 Highlights: – 32,400+ MW capacity, 90% carbon-free – $2B+ in annual free cash flow – Calpine deal adds 26 GW and $2/share EPS uplift by 2026 – Strong positioning with Amazon, Google, and Microsoft – PTC-backed floor pricing through 2032 – 24/7 carbon-free energy matching for enterprise clients 🚀 Catalysts ahead: → AI/data center demand growing 15–20% YoY → Calpine integration + $500M in synergies → PTC inflation adjustment unlocks $500M+ in upside → Crane plant restart adds 800+ MW by 2028 Constellation isn’t just another utility: it’s a clean energy powerhouse with real scale and visibility. As AI and electrification reshape the grid, CEG is one of the few names positioned to benefit across all fronts. #CleanEnergy #AIInfrastructure #Utilities #EquityResearch #360HuntingtonFund