CoStar Group (CSGP) is a leading provider of commercial real estate data, analytics, and online marketplace services, offering property listings, market insights, and research tools to real estate professionals, investors, and businesses.

We believe its Costar Suite is the “Bloomberg for Real estate” and it’s listing platform has countercyclical powers that rises in earnings when vacancy rate increases. We loved the business but the high valuation kept us off. However, we were able to benefit from an interesting merger arbitrage strategy through its acquisition of Matterport.

Churchill Downs Incorporated operates racetracks, casinos, and online wagering platforms, best known for hosting the annual Kentucky Derby, a crown asset unique for casino operator.

The approval of Historical Horseracing Machines (HHR) post Covid opened new opportunities for Churchill to obtain gaming licenses in Kentucky and Virginia. And we were able to participate in an option straddle trade through Urban One, a local operator partnering with Churchill downs to open a new casino in Virginia.

TransMedics is a healthcare technology company specializing in organ transplant solutions, particularly through its Organ Care System (OCS) platform that preserves organs for transplant.

We like how TransMedics were able to transform its business model from a medical machine seller to a full service organ transplant provider, adding the largest dedicated private jet fleet and network of national procurement centers along the way to further enhance its moat.

BYD is the biggest EV manufacturer in the world projected to produce over 6 million cars in 2025. It employs over a million people and has international footprints in 50 countries.

BYD is our all-time favorite and we believe its true value has yet to be realized and appreciated by the market. It’s not just an auto company but an industrial conglomerate that represent the highest tier of engineering and mass manufacturing power China can offer.

Building your dream, one step at a time.

Roadrunner Transportation Systems provides logistics and freight services, offering truckload and less-than-truckload solutions across North America.

It was trading at distressed levels on the pink sheets market. However, after in-depth research, we realized it is net cash positive and its operations have dramatically improved since new management took over. We were able to benefit from this market dislocation opportunity and saw our holding triple in value within four months.

Full Truck Alliance is a Chinese digital freight platform that connects shippers and truckers, streamlining logistics and improving supply chain efficiency.

It’s our newest addition to the portfolio. Upon research we realized it has a defensible moat unlike other ride hailing platforms and it’s expansion in LTL segment drives revenue & margin expansion opportunities.