$RTO.L (Rentokil Initial PLC)
H1 update:
If one phrase captures Rentokil's H1 update, it's "full reset."
Under new CEO Mike Duffy, it's clear that slowing growth is exposing years of insufficient restructuring. Unlike peers Rollins and Ecolab, Rentokil is seeing a slowdown in... Show More
$AIR.PA (AIRBUS SE)
Exit position:
In contrast to Q1, Q2 saw no significant delivery disruptions, operational execution was solid throughout, driving a strong quarterly performance.
Since we issued our Buy call in the €160-165 range, the stock has rallied sharply and now trades at roughly a 5% EV/FCF... Show More
$CLNX.MC (Cellnex Telecom SA)
H1 update:
Cellnex's cashflow machine has switched on. The company generated €301 million in free cash flow in H1 2026, up sharply from just €19 million a year earlier, driven by a €230 million YoY drop in BTS spending and tighter working capital (now 6-7% of sales,... Show More
$UNH (UnitedHealth)
Company profile:
UnitedHealth Group is one of the largest private health insurers, providing medical benefits to about 51 million members
globally, including 1 million outside the US as of December 2024. As a leader in employer-sponsored, self-directed, and
government-backed insurance... Show More
$EMBJ (Embraer SA-ADR)
Embraer: An emerging market winner in regional jets. Shares undervalued.
Embraer, short for Empresa Brasileira de Aeronáutica, is a Brazilian aircraft manufacturer, dominating the regional jet market. The product portfolio includes commercial aircraft (sub-150 passengers),... Show More
$MELI (MercadoLibre Inc)
Following a 12% share price decline, we have decided to upgrade MercadoLibre (MELI) to one of our core holdings. The fundamentals and long-term story are simply too strong to ignore.
The headline of this quarter was the sharp drop in operating margins, from 12.8% a year ago... Show More
$RTO.L (Rentokil Initial PLC)
Today, I’ll briefly discuss Rentokil and the latest Q1 figures:
Profile:
From bugs and rats to mosquitoes and other unwelcome guests, Rentokil Initial is at your service. As the world’s largest provider of pest control and commercial hygiene solutions, Rentokil operates... Show More
$DEME.BR (DEME Group NV)
New position:
Deme group is a Belgium-based company created in 1991 through the merger of Dredging international & Baggerwerken Decloedt, two Belgian dredging companies. Through the combination of organic & inorganic growth, the group has evolved into a global player,... Show More
$FRA.DE (Fraport AG Frankfurt Airport S)
Today, I’ll briefly discuss Fraport and the latest Q4 figures.
The investment case
Profile:
Fraport is a global oriented German airport operator, established almost 100 years ago. The company owns and operates the 6rth largest European airport (2025 figures),... Show More
$CLNX.MC (Cellnex Telecom SA)
Today, I’ll briefly discuss Cellnex and the latest Q4 figures.
The investment case
Profile:
Cellnex, spun off from Spain’s Abertis group in 2015, has grown into one of Europe’s largest tower companies. Its core business is leasing tower infrastructure, metal structures... Show More
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