26. Portfolio Updates - March 2025

25. Pinetree: FY 2024

24. Portfolio updates - January 2025

23. Penneo AS acquisition by Visma

22. Own portfolio updates - November 2024

21. Trubrige Inc: Second time around

20. Trinity Exploration acquisition by Lease Operators Limited

19. Pinetree NAV, tracker and valuation based on Q2 2024

18. Topicus implied return, CI Financial and Monster Beverage Odd-Lots: Collection of data from my own tracking models for Topicus and some odd lot opportunities I took part in.

17. Pinetree Holding: Special situations vehicle of Leonard family: Capital gains tax shielded special situations' investment facility of Leonard family (Constellation Software). Attempts at valuations included.

16. Cummins split off of Atmus Filtration Technologies: Split off arbitrage. Short but sweet post.

15. Topicus value shortcut, Terravest source of maintenance capex and cash available for distribution: Some interesting data from my latest analyses

14. MBB SEE: Odd lot opportunity: Odd lot arbitrage opportunity due to tender offer for 10% outstanding shares buyback

13. Topicus - Value shortcut: Overview of my current information on Topicus, including latest valuation

12. Constellation Software Series I Debentures Offer Rights: Short take on an attractive rights offer spread opportunity with asymmetric payoff

11. Mader Group: First Note: Alternative scenarios for Mader Group development and valuations

(V) Markel Corporation: Calculating The Mathematical Value: Modified approach to calculating the simple current value of Markel originally published on Seeking Alpha, plus a special addition.

10. Markel Corporation: Insurance and Investment Portfolio – Valuation Through Float: Exploration of the idea of valuing Markel insurance and investment segments using the concept of float

9. Synchrony Financial: Preferred Choice: Analysis that preceded one of my latest investments.

8. Peak Bancorp acquisition by BAWAG AG: Workout situation resulting from BAWAG AG expansion in the USA and acquisition of Peak Bancorp, Inc.

7. Markel Corporation: Drivers of value: My reflections on the mathematical value concept by Tom Gayner

(IV) Topicus.com Update: Calculated Expansion: Topicus valuation published on SeekingAlpha

(III) Telekom Austria: From Stability To Volatility, Value Is Still Not Unlocked: Valuation of a potential dividend value investment. Stable company with hidden asset, but with part of its business in danger (Belarus exposure)

6. The whole Constellation: Two simple overviews of Constellation Software that tell a much more complicated story

5. Constellation acquisitions - 1H 2022: We are almost half way through the year