Hi all,
Sharing my top 10 positions (by weight) and the rationale behind them. I run a concentrated portfolio (\~20 stocks) focused on quality compounders bought at what I consider reasonable long-term valuations.
Common characteristics across these holdings:
* High or improving ROIC
* Strong free cash flow generation
* Durable competitive advantages
* Solid balance sheets
* Long reinvestment runway
Despite recent underperformance vs the index, my thesis is that the earnings durability and capital allocation quality should drive long-term outperformance.
For those willing to engage:
What weaknesses do you see in this type of positioning?
Are there structural risks I might be underestimating across these names?
1. AMZN
2. MA
3. SPGI
4. UNH
5. NVO
6. MSCI
7. ADBE
8. CSU
9. GOOG
10. META