Hi Adrian, great writeup, thanks! I stumbled on NEXS when looking at BILN and GFRD. Both profitable and the former on 3 EV/EBIT no debt 10% op margin, ROCE of 28% which I find pretty attractive but like you say it's a cyclical business and they would get battered in a recession... Btw just to be pedantic Peter's name is Gyllenhammar not Gyllenhammer ;) Thanks!
Hey Journeyman, thanks for your comments and the suggestions, I'll check them out. I also really appreciate the spelling correction and have updated the post - just in case he's a subscriber ;)
Hey Geoffrey. Thanks for asking. The other two I follow closely are Harwood Capital in the UK (specifically, Richard Staveley at Rockwood) and Samual Terry Asset Management in Australia. Both have a history of successful activism that is (almost always) beneficial to minority shareholders.
Hi Adrian. Super intresting idea. I saw Gyllenhammar posts stock positions on his website. do you know of any other way to follow his publicly traded investments? Thanks!
Thanks for following along! To track Peter Gyllenhammar's investments, I use the 'ownership' part of TiKr (https://www.tikr.com), which seems to have all the investments where he owns a reportable stake in the business i.e. 3%+ in the UK. Hope that helps!
Vistry is one of Nexus's customers and they announced a new contract with them in FY 24 (YE 30th September 2024). The exact details have not been disclosed.
Thanks, I was asking for Vistry itself and its stock, as share price has tanked substantially. I wonder if you are aware of the reasons for that, and if there is a clear way out. As Vistry now looks pretty cheap....
Good question. I tend to stick to smaller companies and so have not done any real work on the investment case.
Someone who might be worth following is Matthew Sweeney at Laughing Water Capital. He owns Vistry and provided some decent commentary in his most recent investor letter "YE 2024".
Hi Adrian, great writeup, thanks! I stumbled on NEXS when looking at BILN and GFRD. Both profitable and the former on 3 EV/EBIT no debt 10% op margin, ROCE of 28% which I find pretty attractive but like you say it's a cyclical business and they would get battered in a recession... Btw just to be pedantic Peter's name is Gyllenhammar not Gyllenhammer ;) Thanks!
Hey Journeyman, thanks for your comments and the suggestions, I'll check them out. I also really appreciate the spelling correction and have updated the post - just in case he's a subscriber ;)
Adrian,
Thank you
Great writeup.
Who are your other two activist investors you follow?
Thanks
Hey Geoffrey. Thanks for asking. The other two I follow closely are Harwood Capital in the UK (specifically, Richard Staveley at Rockwood) and Samual Terry Asset Management in Australia. Both have a history of successful activism that is (almost always) beneficial to minority shareholders.
Hi Adrian. Super intresting idea. I saw Gyllenhammar posts stock positions on his website. do you know of any other way to follow his publicly traded investments? Thanks!
Thanks for following along! To track Peter Gyllenhammar's investments, I use the 'ownership' part of TiKr (https://www.tikr.com), which seems to have all the investments where he owns a reportable stake in the business i.e. 3%+ in the UK. Hope that helps!
A great writeup, thanks! What are current situations oh Nexus and of Vistry?
Hey Mendo.
Thank you :)
I'm not sure I fully understand the question.
Vistry is one of Nexus's customers and they announced a new contract with them in FY 24 (YE 30th September 2024). The exact details have not been disclosed.
I recently wrote a short update on Nexus's FY results in the subscriber chat (https://open.substack.com/pub/overandunder/chat?utm_source=substack&utm_campaign=chat-drip-email) and you can access the full presentation here (https://www.investormeetcompany.com/meetings/full-year-results-176)
Does that help at all?
Thanks, I was asking for Vistry itself and its stock, as share price has tanked substantially. I wonder if you are aware of the reasons for that, and if there is a clear way out. As Vistry now looks pretty cheap....
Good question. I tend to stick to smaller companies and so have not done any real work on the investment case.
Someone who might be worth following is Matthew Sweeney at Laughing Water Capital. He owns Vistry and provided some decent commentary in his most recent investor letter "YE 2024".
https://www.laughingwatercapital.com/letters