valueventures

Figured I'd quickly add to the CSU conversation, as I'd also love to get my hands on a few shares during a pullback. Have looked at Topicus and Lumine too, but always struggle with valuation. Broadly, I think serial acquirers provide more optionality (and diversification) than one-trick organic ponies. I've been fortunate to own Terravest under this logic (still holding, but probably not a net buyer at these levels). Has anyone looked at VitalHub? I've seen it floated on Twitter as a baby CSU (albeit with more of a healthcare focus). Similar case where valuation has run up, but I like the fact that it's much smaller and should theoretically have a lower base from which to compound (and a resulting longer runway for M&A). No position yet, just light diligence so far... Thanks all!

Mine are probably IWG, MATR, and GRUSF.

Curious what stocks intrigue you. My most actionable watchlist ideas at the moment are APO, IBKR, BRO, and MUSA, but all are too expensive at the moment.

In addition to the 2025 Portfolio thread, figured I’d start a thread focused on sharing everyone’s top ideas. What stock or handful of stocks do you expect to outperform and why? Looking forward to hearing responses, thanks!

Big announcement day (hopefully!).

While all the names referenced in this thread have been quality compounders, they obviously have large market caps. Curious if anyone has thoughts on companies that are more small-to-mid cap in size that are earlier in their compounding lifecycles. I own FFH over BRK because it is much smaller and should therefore compound from a lower base, and am looking for a similar dynamic among insurance brokers. Thanks!

Starter in MATR.TO

Starter in BN.

What's your thesis on SCR.TO? I'm long as well, but this one doesn't get much discussion here. Thanks!

Also a small starter in SNDL...hoping for a quick flip on this one.

Nice portfolio, but where is GLASF?!

Added to GLASF on the dip

More Fairfax

I don't have a strong preference. I've read that KKR is better suited for low rate environments and APO for high rate environments, so would expect KKR to perform a bit better if/when rates get cut. Also, I follow a few hedge funds (1 Main, Greenhaven, etc.) that are long KKR. Lastly, I thought that S&P 500 index inclusion would be a catalyst for KKR (which ended up materializing and resulting in a nice pop in share price). I'd love to own APO at the right price...we'll see if the market affords me that opportunity.

Why did you sell APO and KKR? Both solid long-term compounders. I only own KKR and still think it’s reasonably priced (25 P/E) despite YTD outperformance.