3 Recent Buys – BIPC, MSFT, ADYYF


A quick update on a few recent purchases in my portfolio.

  • First purchase: I added to my position in Brookfield Infrastructure Corp (BIPC.TO) @ CAD$62.50. Brookfield raised $275M by issuing shares, so I decided that it was a decent price to add to my position here. Recently, I changed my LP units to the C-corp units as I see a higher demand from rest of the investors for a simpler corporate structure.
  • Second purchase: I continued building on my position in Microsoft Corp (MSFT) @ $205.79. A bit pricey at current level, but great companies with a visibility to continued growth demand a premium in this market & I decided to nibble more here.
  • Third purchase: I added to Adyen NV (ADYYF) @ $1575.00. This is my third iteration of purchasing Adyen shares (see purchase #1 & #2 here). The stock has taken off since my initial purchases in May & June, but still decently priced considering the relative valuation in the US market.

Full Disclosure: Full list of holdings is available here.

3 Recent Buys – FNV, BIPC, ADYYF


A quick update on a couple of recent buys in my portfolio.

  • First purchase: Last week, I added to my position in Franco Nevada Corp (FNV.TO) @ $181.00. The recent pullback provides what I believe is a decent place to add in a marketplace where everything else seems overpriced & overextended.
  • Second purchase: This was a swap of my shares in Brookfield Infrastructure Partners. After the recent split between the LP units (BIP/BIP.UN.to) and C-corp (BIPC/BIPC.to), it seems like there is much higher investor appetite for the C-corp shares — likely due to simpler tax filing system for the US investors & fund flows. I decided to sell my BIP.UN.TO shares and buy the BIPC.TO shares instead.
  • Third purchase: I added to my position in Adyen NV (ADDYF) @ $1,190.00. Continuing to build on this position that I recently initiated a couple of weeks ago. See original post on my reasoning for going long Adyen here.

What are your thoughts on these purchases. Share a comment below.

Full Disclosure: Long FNV.TO, BIPC.TO. Our full list of holdings is available here.

Recent Buy – ADYEN


A quick update on a recent buy in my portfolio.

I initiated a new starter position in Adyen NV (ADYEN.AS) (ADYYF). I bought the OTC ticker ADYYF @ $1,076.48. Adyen is a high quality, high growth payment solutions company based in Netherlands. Last few weeks I’ve become very interested in learning about the fintech space and Adyen stands out as a great company that has grown a lot since it was founded in 2006, but still growing at a remarkable rate (top line growth rate expected around 30%) as the TAM is huge. Some quick highlights that I like about Adyen:

  • Founder-led by Pieter van der Does, a great leader
  • Timeline: Founded in 2006; has been profitable since 2011; went public in 2018
  • Customers are merchants. Won high profile global leaders early in life such as Facebook, Microsoft, Booking, eBay, Spotify, Uber, KLM etc. (ICONIQ, Mark Zukerberg’s investment arm, was an early investor when co was still private)
  • Global omnichannel processing: global availability & can process almost every currency.
  • Develops a modern full stack and maintains full control to make payment processing seamless & minimize failures. Does not plan on buying other companies and dealing with problems on integrating different systems.
  • Pace of innovation – new software release every week
  • Q1 2020 financials stand at: Processed vol of €67B (+38% YoY), Net Revenue of €135M (34% YoY), EBITDA €63M (47% margin & +16% YoY), FCF conversion 93%.

I have been capturing data about Adyen in this Twitter thread:

Full Disclosure: Long ADYYF. Our full list of holdings is available here.