Buy-And-Monitor Instead of Buy-And-Hold-Forever
Why we run a concentrated but proactive portfolio strategy
Hi Partner!
In this new 1h-plus bi-weekly update, we’ve talked about:
Earnings reports from Ferrari, Harvia, Topicus, Hg Capital Trust, and Constellation Software
Highlighting our recent blogs, with additional color on why we pay attention to leased/right-of-use assets when assessing ROIIC. We’ll share this thought process in the second part of our two-part series on defining sustainable quality compounding.
Lastly, we’ve talked about how we approach long-term investing. Buy-and-monitor instead of buy-and-hold-forever. When running a concentrated portfolio, we have to be proactive: businesses change, their returns on incremental invested capital aren’t consistent, their reinvestment runway will grow or shrink as new trends and competitors emerge… Our top 3 positions now account for 67% of total portfolio value. That’s indeed concentrated, but it’s focused on what we believe to be just amazing businesses, and we'll continue to share our journey very transparently.
If you find value in what we share, consider liking and/or re-stacking this postand sharing our publication with your network.
The video presentation can be found below including the transcript and slide deck.