Spyglass Portfolio -- Megatrends
0
New Position: Shift4 Payments, Inc. (FOUR)
Why Shift4? Why Now?
SHIFT④
Shift4 is a misunderstood growth story with a proven history of excellent capital allocation.
Track Annotate
News Zoom
100
Q4 2021: The Spyglass team listens to the Shift4
analyst day presentation
-90
December 2022: Shift4 investment idea
presented to the Spyglass team
80
70
-60
54.94
5
50
2
2020
2021
2022
2023
Source: Bloomberg.
40
30
20
5
Q1 2023: Shares of Shift4 trade above $70, and
Spyglass meets with the Company after Q4 2022
earnings and develops valuation framework for
potential investment
Q3 2023: Payment names experience material
sell-off across the board, Spyglass meets with the
Company at an industry conference
September 2023: After final due diligence and a
meeting with the management team, Spyglass
makes initial investment
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