The Lion’s Roar - Outside the Box Investments

June 2026

FST Corp (KBSX) - Initiation Report

KBS Golf Shafts - Trip to Taiwan

Jun 22 • Dominick D'Angelo

6

1

East Coast Ideas Conference - 3 Interesting Ideas

Seaport Entertainment (SEG), ATN International (ATNI), and Sky Harbour (SKYH) were the three most interesting companies I met with at the Ideas…

Jun 16 • Dominick D'Angelo

6

1

March 2026

BGC Group - Market Continues to Underestimate Durability

BGC earnings underestimated as ECS strength drives higher revenue base and upside.

Mar 31 • Dominick D'Angelo

9

1

1

Carnival Cruise (CCL)

Thoughts on CCL Based on My Recent Vacation

Mar 23

4

February 2026

Q4 2025 Investor Letter

As we close out 2025, I want to reflect on what drove results across the portfolio, where we were right, where we were wrong, and how our process…

Feb 2 • Dominick D'Angelo

5

2

December 2025

LUCK & FND - No Longer Attractive Shorts

Closing out two long-time short ideas: Floor & Décor + Lucky Strike

Dec 23, 2025 • Dominick D'Angelo

2

1

Las Vegas: Sphere & TopGolf Post Trip

Takeaways from My Recent Trip to Vegas

Dec 15, 2025 • Dominick D'Angelo

3

Southwest Ideas Conference 2025

Takeaways From Conversations with Management

Dec 3, 2025 • Dominick D'Angelo

4

1

October 2025

Q3 2025 Investor Letter

A Quarter of Change

Oct 16, 2025 • Dominick D'Angelo

3

September 2025

Opportunity at FST Corp (KBSX)?

KBS Golf Shaft Positioned to Take Share

Sep 30, 2025 • Dominick D'Angelo

5

TopGolf Callaway - Good Co/Bad Co

Club Business Undervalued

Sep 4, 2025 • Dominick D'Angelo

5