Spring 2025

Scott Rosenthal mentioned a long position in Siemens AG, indicating a favorable outlook based on the company's international investment opportunities and risk management strategies.

Scott Rosenthal discussed a long position in Nippon Sanso Holdings Corp, highlighting the company's potential in the international market and the team's rigorous analysis behind the investment.

Benjamin Beneche and Ramesh Narayanaswamy shared their long position in Nintendo, emphasizing the company's durable value and potential for growth within their investment strategy.

The founders of Tourbillon Investment Partnership mentioned a long position in Howden Joinery, reflecting their focus on durable value investing and the company's strong market position.

Tourbillon Investment Partnership holds a long position in Berkshire Hathaway, viewing it as a strong investment due to its durable value and diversified portfolio.

Eternal, Ltd. is positioned well in the market due to its innovative approach and growth potential in the technology sector. The company has shown resilience and adaptability, making it a compelling investment opportunit…

Zengame Technology Holding, Ltd. is an attractive investment due to its strong growth prospects in the gaming industry and its ability to capitalize on emerging trends in technology.

Sprouts Farmers Market, Inc. is a solid investment choice as it benefits from the increasing consumer demand for healthy and organic food options, positioning it well for future growth.

The investment thesis for Carlisle Companies (CSL) is based on its transformation into a pure-play building products platform, which is expected to drive above-consensus revenue growth due to structural tailwinds in the …

Eternal, the parent company of Zomato and Blinkit, is positioned to benefit from its dominant market share in India's food delivery and quick commerce sectors. The recent stock correction due to aggressive reinvestment i…

Siemens is a collection of quality assets in factory automation, healthcare, and other industrial disciplines that should allow the company to grow at attractive incremental rates in excess of GDP. The management has dem…

Nippon Sanso is positioned to improve its operating performance due to the acquisition of assets from Praxair, which brought strong managerial talent and expertise. The company has latent pricing power that it can now ex…

Gavin Baker mentions owning GDS, the largest data center company in China, as a way to capitalize on the growth of AI and data center demand in the region.

ACMR is highlighted as a potential beneficiary in the semiconductor space as China aims for independence in semiconductor manufacturing, which could lead to significant growth for the company.

NAURA is mentioned as another company that could thrive in the semiconductor sector as China develops its own capabilities, potentially filling the gap left by Western companies.

Baker discusses the potential for companies impacted by AI in China, suggesting that there are opportunities to invest in this sector, although he does not specify a particular stock or price.

Zengame Technology is currently undervalued, trading at a low multiple of earnings and free cash flow, with a strong balance sheet featuring no debt and a significant cash position. Despite a recent decline in revenues a…

Sprouts is a specialty food retailer that is executing well and has strong growth prospects, particularly with its e-commerce sales and new store openings. While the current multiples may not appeal to all value investor…

Zengame is seen as a deep value investment opportunity, particularly with its potential for growth through existing games like Fishing Master and the possibility of overseas revenue. The investor believes that despite th…

BERO Beer, a non-alcoholic beverage brand, is gaining popularity at Sprouts, reflecting a broader trend of consumers seeking healthier alternatives to alcohol. This aligns with Sprouts' focus on health-conscious products…

We recommend a BUY for RB Global (NYSE: RBA) with a base-case price target of $149, implying a 16% IRR over a three-year horizon. RB Global operates the largest auction platform for used heavy equipment and has expanded …

The investor believes Carlisle Companies has strong growth potential due to its diversified business model and robust market position in the construction and industrial sectors.

Siemens has been undergoing a transformation from a low-growth industrial conglomerate to a more dynamic business with attractive assets and long-term growth potential. The management's commitment to optimizing value thr…

Rémy Cointreau has a strong balance sheet, healthy returns on capital, and operates in a durable market segment with high barriers to entry, particularly in dark liquor and champagne. The company's products are tied to s…

Diageo is considered for its strong brand portfolio and market position in the liquor industry, which aligns with the focus on durable brands and high barriers to entry in the market. The company benefits from its establ…

Brown-Forman, known for its Jack Daniel's brand, is appealing due to its inventory management and aging process that creates a unique market position. The brand's strength and the company's operational model contribute t…

Microsoft is viewed as a strong investment opportunity due to its potential for growth and durability, especially if its valuation compresses. The company is considered a fulcrum asset in the tech sector, making it attra…

Amazon is also on the target list for investment, seen as a symbiotic loop with Microsoft. The company is recognized for its strong business model and potential for growth, particularly if valuations become more favorabl…

Nintendo stands out in the gaming industry due to its strong franchises and history of durability. The company has adapted well to market changes, moving towards more recurring revenue models, which enhances its economic…

Nintendo is positioned as a fulcrum asset with a strong cultural approach that prioritizes customer satisfaction over immediate profit maximization. With the anticipated launch of the Switch 2, which addresses previous h…

Howden Joinery is identified as a symbiotic retailer with a unique business model that focuses on supplying building materials exclusively to tradespeople. This model has resulted in significant market share and competit…

Howden is positioned to benefit from a less cyclical demand environment, with current market conditions suggesting a recovery towards long-term average sales. The business operates with strong margins and a resilient mod…

Berkshire Hathaway is viewed as a misunderstood giant with a unique capital structure that allows for significant returns on equity. The company has a substantial amount of excess capital that can be reinvested, and desp…