Investment research

The thesis keeps its history.

Every authorized filing, transcript, model, meeting, and judgment stays connected to the view it changed — so an analyst sees what moved, why, and what would move it again, quarter after quarter, and the next analyst inherits all of it under the same restrictions.

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Research sources

Issuer filings
Internal research notes
Portfolio holdings
Meeting records

Research work product

Thesis note
Position review
Client letter
Committee paper

The work today

The model holds the estimate. It does not hold the argument.

Every debate, meeting, filing, and prior assumption that produced the number lives in notes, inboxes, and old model versions — and leaves with the analyst.

The latest model

One number, current as of the last save.
Why it changed is in someone’s notes.
Coverage changes hands and starts over.

The thesis record

Every version, stamped when a pillar was revised.
The evidence and the reason attached to each change.
The next analyst inherits all of it, under the same restrictions.

Over four quarters

One analyst, one issuer, one thesis — revised on evidence, then handed on.

Coverage

Brightwater Systems · A. Okafor

Thesis v1

The thesis is written down as three pillars. Each pillar records what would support it, what would weaken it, and which evidence it rests on.

Thesis · v1

Installed base converts to subscriptionConversion 41% of installed baseassumed
Pricing holds through renewalsNet retention 108%assumed
Operating margin expands from FY2FY2 margin guide +250bpassumed

What would change the viewNet retention below 105% for two consecutive quarters.

Research record
Q1Initiation note10-Kmodel v1initiation notev1
Q2Q2 earnings calltranscriptmodel v2v1
Q3Management meeting · Rotterdammeeting notemodel v3v2
Q4Q4 guidance cutguidance tablebacklog disclosuremodel v4v3
HandoffHandoff to the new analystv1 · v2 · v3all sourcespermissions unchangedv3

Illustrative example

For the analyst

Research workflows with memory.

Earnings preparation

The current thesis, expected KPIs, open questions, management history, and estimate changes — assembled before the call.

Post-event change analysis

What moved in guidance, language, estimates, catalysts, and risks — against the thesis as it stands.

Portfolio relevance

Issuer developments connected to held instruments, exposures, mandates, and limits.

Coverage continuity

Permitted research history available when coverage changes or a new analyst joins.

Mandate restrictions and information barriers apply to every request before context reaches any approved AI system. See how Percidian works for financial services

From agent to assistant to workflow

One research memory across AI.

Percidian gives approved AI systems the same issuer relationships, research history, current thesis, portfolio context, permissions, and evidence. An analyst moves from a research agent to a model assistant to an internal workflow without re-explaining the company or reloading the complete history.

Turn research history into a lasting investment advantage.

Give every approved AI system the thesis, evidence, and portfolio context required for better-informed decisions.

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Bring your business into every AI decision

Give every approved AI system the context to do its best work.

Connect the knowledge your organization already has. Preserve what it learns. Apply the permissions it already trusts. Make that understanding available wherever people and agents work.