BUY LIST 2026

European residential landlord, deep discount to NAV after the 2022-23 rate shock; rate-cut cycle is a tailwind for refinancing costs and valuations.

Offshore wind pure-play, beaten down by US project writedowns and permitting risk; contrarian bet on European offshore build-out continuing regardless of US politics.

Wind turbine OEM with improving order margins after years of supply-chain and warranty pain; global order book leverage to any renewables capex recovery.

Diversified utility (grids + renewables + networks) with one of the sector's best balance sheets; core compounder anchor for the list, not a trade.

Japanese hospitality company turned Bitcoin-treasury vehicle (the MicroStrategy playbook, run out of Tokyo); a leveraged, listed, JPY-wrapped proxy for BTC. High-beta satellite position, sized and understood as one — not a core holding.

Sole supplier of EUV lithography systems the entire leading-edge chip industry depends on — about as close to a monopoly as public markets get. The highest-quality compounder on this list; added on AI-capex-driven pullbacks, not sold on them.

World's second-largest container shipper, trading close to book value after the post-COVID freight-rate collapse. Optionality on any Red Sea/Panama Canal-driven freight-rate re-rating, funded by one of shipping's stronger balance sheets.

Austrian/CEE composite insurer, cheap on P/B and P/E versus Western European peers, with a high dividend yield funded by disciplined underwriting across a dozen CEE markets. Income anchor for the list.

Finnish specialty-chemicals maker (pulp & paper, water treatment) with real pricing power and a defensive, non-cyclical demand base. A steady compounder, not a story stock — the kind of quiet quality this list is short on.

World's largest olive-oil bottler (Bertolli, Carapelli, Carbonell) — a distressed-value/turnaround bet on olive-oil prices normalizing after 2023-24's supply-shock spike. Binary and thinly traded; deliberately sized small.

Japanese industrial conglomerate re-rated as a digital/OT infrastructure and grid-equipment story (Hitachi Energy, Hitachi Rail, GlobalLogic). Balance-sheet quality plus a direct line to AI-driven power-grid capex.

Faroese/Nordic regional bank, renamed back to Føroya Banki from P/F BankNordik on 2026-08-08 — the day before this position was opened. Small, illiquid, but a high-ROE niche lender trading at a discount to Nordic bank peers. Tracked via its London IOB line (DKK-quoted); the Nasdaq Copenhagen primary listing isn't covered by our free data source.

Danish GLP-1 pharmaceutical leader (Wegovy, Ozempic). Premium high-ROIC healthcare compounder benefiting from long-term demand in metabolic therapies.

Italian IT consulting, AI integration, and systems engineering specialist with net-cash balance sheet and steady high-margin organic growth.

Short position thesis: EV margin compression, escalating price competition from European and Chinese OEMs, and elevated multiple risk relative to global industrial peers.

Short position thesis: Structural headwinds, post-de-SPAC liquidity contraction, and declining arbitrage opportunities across remaining legacy blank-check vehicles.

Evergreen with huge dividend - sells most cars in the world

Bitcoin Leveraged without Margin Call Risk

great dividend and Strategy is not a distressed company, attractive NAV discount and oversold

Austrian Specialist Machinery and Automation

Profitable and good ideas like Ebay Takeover, low P/E

Monopoly on all sorts of Gases for Industry in Europe