General Investing >> Money Manager Interviews >> March 16, 2026
Key Takeaway: Empiric Institutional maintains a 35% upside target for Nintendo, identifying a significant "moat" in its hardware-software integration and iconic IP. CIO Eswar Menon highlights the company’s $15 billion cash balance as a critical buffer against recent price corrections caused by volatile memory chip costs. With the Switch 2 established as a solid seller and a robust pipeline of third-party software expected to drive momentum throughout 2026, Empiric views Nintendo’s 7.5% free cash flow yield as an attractive entry point for long-term investors. Profile
Eswar Menon is Chief Investment Officer of Fundamental Strategies, Partner, and Portfolio Manager with Empiric Institutional. He was Founder and CIO of Harper Capital Management, which merged with Empiric in 2024. He is also a Trustee and Chairman of the Investment Committee for the San Jose Police & Fire Retirement Fund, and an Adviser to India-based Sameeksha Capital. Before starting Harper Capital Management, Mr. Menon had more than 25 years of asset management in firms such as Nicholas Applegate Capital Management, Loomis Sayles & Co., Denahi Global Investments, WHV Investment Management, and Geneva Advisors. He received a degree in electrical engineering from the Indian Institute of Technology Madras, and a graduate degree in electrical and computer engineering from the University of California, Santa Barbara, and an MBA from the University of Chicago. Profile
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TWST: Welcome back to The Wall Street Transcript. Remind our readers about your firm, Empiric Institutional.
Mr. Menon: Empiric Institutional
