It’s the companies we invest in that deliver exceptional returns. The stock slides show our 10-question research framework and the long-term investment cases of the companies.
Our 10 Question Research Framework
Industry Background
1. Is there room to at least double sales over the next 5 years?
2. What happens over 10 years and beyond?Competitive Advantage
3. What is your competitive advantage?
4. Is your business culture clearly differentiated? Is it adaptable?
5. Why do your customers like you? What societal considerations are most likely to prove material to the long-term growth of the company?Financial Strength
6. Are your returns worthwhile?
7. Will they rise or fall?Management Attitudes
8. How do you deploy capital?
Valuation
9. How could it be worth 5 times as much, or more?
10. Why doesn’t the market realize this?
AdyenAdyen, Surinamese for ‘Start over again’, is a platform to simplify and accelerate global payments.
AlibabaAlibaba is a Chinese company with businesses in e-commerce, cloud computing, digital media, entertainment, and payments through financial services platform Ant Financial.
AmazonFrom its origins as an online bookstore, Amazon has transformed into one of the world’s most influential companies in e-commerce, cloud computing and AI.
AMDAdvanced Micro Devices (AMD) is an American semiconductor company that designs microprocessors and graphic chips used in various devices including desktops, laptops, video game consoles and servers.
ASMLASML stands for Advanced Semiconductor Materials Lithography. The company used to be part of Philips but was spun out in 1988. Their high-ticket lithography machines are used to design and make semiconductor chips.
AtlassianFounded in 2002, Atlassian is an Australian developer of collaboration tools aimed at software developers and project managers.
BeigeneBeiGene is a Chinese biotech company focused on immuno-oncology and molecularly targeted drugs for the treatment of cancer.
CloudflareCloudflare’s mission is to help build a better Internet. The company operates a global network which provides faster, more secure, websites and apps. Cloudflare is the foundation for anything connected to the internet.
DatadogDatadog is the leading cloud 'observability' platform that helps customers make sense of their technical environment through real-time infrastructure, application and log data.
DexcomDexcom is a manufacturer of sensors and display devices for continuous glucose monitoring (CGM). The primary application for CGM is to give diabetics more information about their blood glucose levels to better help them keep it within safe parameters.
HDFCHDFC is major provider of finance for housing in India.
HermèsHermès is the ultimate luxury brand. Whether purchasing a bag, scarf, jewellery, tableware or furniture, consumers recognise the mastery of artisanal skills involved in making each product. Its Birkin and Kelly bags are the epitome of luxury.
IlluminaIllumina enables its customers to read and understand genetic variations. Its products allow for the sequencing of genomes at an unprecedented scale.
Intuitive SurgicalIntuitive develops and manufactures robotic products designed to improve clinical outcomes of patients through minimally invasive surgery.
Joby AviationJoby Aviation develops electric vertical take-off and landing (eVTOL) aircrafts.
KeringKering is an international group that owns luxury brands, such as Gucci, Saint Laurent, Balenciaga, Alexander McQueen and Bottega Veneta.
MeituanMeituan is an online marketplace for the local service industry in China. It operates in more than 200 categories in 2,800 cities with dominant market shares in on-demand restaurant delivery, in-store dining, hotel booking and film ticketing.
MercadoLibreMercadoLibre operates an ecommerce and fintech business across Latin America, comprising an online marketplace, payments platform, digital advertising as well as a range of financial services to merchants and consumers.
ModernaModerna is a biotech company that develops medicines based on messenger RNA (mRNA).
NetflixNetflix is a streaming service that allows members to watch TV series, documentaries and feature films across a wide variety of genres and languages.
NioNIO designs and jointly manufactures smart, high performance, premium connected electric vehicles.
NvidiaNVIDIA designs Graphics Processing Units (GPU’s) for the gaming industry, datacentres, and system-on-a-chip units for the mobile and automotive markets.
PinduoduoPinduoduo is a social e-commerce platform targeting the hundreds of millions of Chinese consumers who are not currently part of the Alibaba ecosystem, typically live in rural areas and are elderly.
SamsaraSamsara runs cloud software that turns customers’ ‘dumb’ physical assets, such as commercial vehicles, trailers, industrial equipment, and warehouses, into smart assets.
ShopifyShopify is a Canadian technology company that enables small businesses to set up and sell products online
SpotifySpotify is a music streaming platform founded by Swedish entrepreneur Daniel Ek. Ek’s vision is to give a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by it.
TencentTencent is a Chinese technology and entertainment company which specialises in gaming, e-commerce, music, cloud and artificial intelligence.
TeslaTesla is an automotive and energy company run by CEO Elon Musk. The company is accelerating the world’s transition to sustainable energy with electric cars, solar panels and integrated renewable energy solutions for homes and businesses.
WorkdayWorkday provides cloud-based enterprise software solutions for businesses, notably in the business-critical area of human resources.
All stock slidesAll long-term investment cases of current holdings in your portfolio in our 10 Question framework.
