1) Executive Summary

Embraer is not just another aircraft manufacturer – it’s a global leader in regional and business jets, with a portfolio stretching across commercial, executive, defense, and even urban air mobility. Backlogs are filled and at an all-time high of nearly $30 billion, growing quarter after quarter, providing multi-year visibility and opportunities for strategic planning. The company is increasingly seen as the “third force” in global aerospace – smaller than Airbus and Boeing, but faster-growing, more diversified, and dominant in its niches.

In commercial jets, the manufacturer benefits from an oligopolistic market where Airbus and Boeing are swamped with narrow-body demand, leaving airlines eager for Embraer’s efficient E2 family. In executive aviation, the Phenom and Praetor families continue to outpace peers, with the Phenom 300 holding its crown as the best-selling light jet. Defense is becoming a real growth engine as the C-390 gains traction among NATO members. And looking further ahead, Eve gives the Brazilian group a credible stake in urban air mobility, with an order book rivaling much larger peers.

The core strengths remain clear: diversification, execution, and a backlog that underwrites growth into the next decade.

2) Macro Environment

Embraer operates in a booming global environment on multiple layers:

• Regional aviation demand: Airlines are expanding their fleets globally, with rising passenger counts, and the company capitalizes on these trends. The manufacturer forecasts demand for ~10,500 sub-150 seat jets and turboprops over the next two decades, which, if true, would boost sales even more, as the leader in that space.

• Emerging markets penetration: Embraer led a strong push into India and other emerging economies across commercial, business and defense sectors through talks with Air India and IndiGo. Many regions, especially in Southeast Asia, are expanding their aircraft fleets massively due to the increased level of wealth within these countries and the corresponding demand for travel. The group is at the forefront of this growth. Countless regional airlines in developing regions are banking on smaller jets and efficient delivery. Both are major catalysts for Embraer.

• Global increase in defense spending: With countless conflicts around the world and growing tension between the largest political actors, many countries decided to shift their priorities toward defense. Especially in Europe, where NATO members had to realize the hard way that conflicts still exist everywhere and can occur unexpectedly. Under President Trump, the U.S. pledged not to guarantee Europe’s defense perpetually if the continent does not conform to NATO defense spending goals (>2% of GDP). Following these events, many nations increased spending or even took loans for “emergency” packages to modernize and expand defense capabilities.

Decreased geopolitical and trade risk: After “Liberation Day” and the subsequent announcements, investors have become wary of Embraer’s North American prospects. However, these concerns vanished after the administration announced that aircraft deliveries will be exempt from scrutiny. Embraer reported no material tariff impact in Q2, which will continue, given that the situation stays constant.

3) Company Overview & Segmentation

Embraer is a diversified business with several categories. There are the core lines:

• Commercial Aviation: The backbone of the company is the E-Jet program. The newer E2 family (E175-E2, E190-E2, E195-E2) builds on the success of the original E-Jets, which still form a big part of the fleet worldwide. Embraer is the undisputed leader in regional jets (<150 seats). Airlines opting for something smaller than an A320 or 737 turn to Embraer instead. Demand is rising as carriers open up point-to-point routes and expand into secondary airports, particularly in emerging markets. The company also benefits from the largest installed base of regional jets in the world, with a proven track record for reliability and a vast operator network.

• Executive Aviation: The business jet arm centers on the Phenom (100EV, 300E) and the Praetor (500, 600). The Phenom 300 has held the top spot as the best-selling light jet for over 12 years, proving itself as a reliable market leader. The Praetor series marks Embraer’s strong entry into the midsize jet category, where it competes with models like Bombardier’s Challenger and Cessna’s Citation. Light and midsize jets are favored for their cost-efficient operations and dependable performance, making them a preferred choice for both corporate and private buyers.

• Defense & Security: Embraer’s key program is the C-390 Millennium (KC-390 for air-to-air refueling and cargo). It is seen as a modern, cost-effective alternative to Lockheed’s C-130 Hercules, favored especially by smaller European countries. The backlog is filled with orders from Austria, Portugal, Czechia, Hungary, the Netherlands, South Korea and Brazil. Other countries also confirmed intent to purchase, including Sweden, Slovakia, Lithuania, India, Poland, Turkey and Finland.

• Service & Support: This is Embraer’s recurring revenue base and serves as a margin stabilizer across economic cycles. Embraer has over 2,500 aircraft in service worldwide, generating demand for support services, including maintenance, repair & overhaul, parts supply, pilot training and fleet upgrades. Services backlog is growing rapidly, increasing predictive revenues.

• Advanced Air Mobility: Eve is developing electric vertical take-off (eVTOL) and landing aircraft for urban air mobility. The order book is filled from airlines and ride-sharing platforms, however commercialization is still far away at the moment. Still, Eve is in a strategic position, backed by Embraer’s engineering and global service network – something many eVTOL startups lack.

Embraer is not a one-product company: it combines commercial and executive aviation with other ventures and this strategy bears fruit. The company is gaining traction, driven by macro tailwinds and strong execution. The business model is as diversified as possible for an aircraft manufacturer.

4) Financial & Operational Performance

• Revenue (Q2 2025): $1.82 billion (+22% YoY, record second quarter)

• Adjusted EBIT: $191.8 million (10.5% margin, best in a decade)

• Adjusted Net Result: –$4.7 million (vs. $80 million profit in Q2 2024)

• Deliveries (H1 2025): 87 aircraft (61 executive, 26 commercial; +30% YoY)

• Backlog: $29.7 billion (record high; +40% YoY)
• Commercial Aviation: $13.1 billion (+16% YoY) – demand driven by E2 jets and strong regional fleet renewal
• Executive Aviation: $7.4 billion (+62% YoY) – Phenom 300 and Praetor families leading, business jet deliveries up sharply
• Defense & Security: $4.3 billion (doubled YoY) – C-390 export contracts expanding with NATO countries
• Services & Support: $4.9 billion (+49% YoY) – recurring revenue base growing rapidly

• Free Cash Flow (Q2 2025): –$162 million, explained through working capital required for increased production

• Leverage: Net debt/EBITDA around 0.5x after sharp deleveraging in 2024

• Guidance 2025: Revenue $7.0–7.5 billion, 77–85 commercial jets, 145–155 executive jets, EBIT margin 7.5–8.3%, FCF >$200 million

• Long-term growth: Management aims to nearly double revenue to ~$10 billion by 2030, driven by steady commercial demand, executive jet leadership, expanding KC-390 defense contracts, and early-stage growth in urban air mobility (Eve eVTOL).

Embraer is aiming for another year of solid top-line growth, driven by strong execution and macro trends. Backlog strength across all four segments provides multi-year stability, with Executive and Defense posting the fastest growth, Commercial stabilizing as the core driver, and Services adding recurring resilience with impressive numbers.

5) Growth Drivers

• Backlog at record levels: Nearly $30 billion provides exceptional forward visibility and ensures production stability well into the next cycle.

• Regional jet demand: Airlines need smaller, fuel-efficient aircraft to run point-to-point routes and connect thinner markets. This is exactly the space the E2 family dominates.

• Executive jet momentum: Business aviation is holding up better than expected, with Embraer at the front of the pack. The Phenom 300 and Praetor are driving the strongest delivery volumes in years, outpacing most competitors and proving that demand for this class of jet is here to stay.

• C-390 adoption: More and more countries are lining up for the Millennium. Several NATO members already signed on, and others are in the pipeline. For mid-sized air forces that need a modern, versatile transport aircraft, it’s becoming the clear replacement for the aging C-130 built by Lockheed Martin. With production capacity expanding, Embraer can actually deliver these planes on time and work through its massive backlog – something rivals are often struggling with.

• Expansion into emerging markets: India, Southeast Asia, and Latin America are increasing fleet sizes – precisely the markets where Embraer’s regional aircraft fit best. The company maintains strong relationships with international carriers through its global network.

Urban air mobility optionality: Eve’s ~2,800 provisional orders represent a long-term bet on an entirely new industry, where Embraer brings engineering credibility and a service backbone no startup can replicate.

6) Valuation & Investor Sentiment

The stock has rallied a lot already this year, outperforming both Airbus and Boeing significantly. Investors recognize Embraer’s position and prospects, which led to this upward trend. However, with the company’s massive backlog, >15% revenue growth, and a strong pipeline, there is no reason to suggest a slowdown. Embraer is in a prime spot to capitalize on macro trends, and still, the stock is trading at a very fair to cheap Forward P/E ratio of ~21 – lower than Airbus’ ~23.

7) Risks & Challenges

Nevertheless, the manufacturer also faces challenges, however many seem insignificant or short lived:

• Margins under pressure: Embraer reported a negative free cash flow in Q2, which seems bad on first glance. However, if the reason for this is massive demand, which requires major investment into production capabilities to facilitate all orders, it does not seem so negative anymore.

• Tariff uncertainty: While President Trump has backed down from putting additional taxes on Embraer’s deliveries, this could potentially change in the future and further damage profitability.

eVTOL market uncertainty: Eve is one of Embraer’s future projects and growth drivers. However, there is no clarity about commercialization, regulation, and adoption as of now. While the prospects of eVTOL are undeniable, the how and when is still unclear.

8) Catalysts & Timeline

Embraer has had several successful quarters behind it, but signs point to continual growth, underpinned by multiple potential factors:

• Delivery ramp-up in H2 2025: Embraer is poised to significantly boost production, which should drive improved margins and stronger cash flow. The company continues to enhance its operational efficiency each quarter, and with a robust backlog providing a solid revenue foundation, Embraer is well-positioned to strategically invest in expanding its production capabilities and advancing its development facilities.

• Geographic expansion: As mentioned earlier, Embraer heavily targets Emerging Markets. India, one of the key players, is expanding its fleets rapidly, primarily with regional jets – something Embraer can capitalize on. The company has shown progress in talks with Indian carriers, which could materialize in the form of announcements, agreements and orders in the future.

• Defense deals: C-390 export wins could materially boost backlog. As nations pledge higher spend on the military, Embraer profits, especially since competitors struggle to deliver past orders, let alone new ones. Notably smaller countries including Austria, the Netherlands and Portugal, rely on the Millennium as their prime military transport aircraft.

eVTOL launch: Eve commercialization likely happening over the next few years, although without a concrete timeline. However, this trend is noticeably gaining traction and could become a crucial part of Embraer’s structure in the future.

9) Conclusion

Embraer is highly impressive in multiple ways: record revenue and margins, towering backlog, geographic expansion, defense diversification, and a stake in the future with eVTOL. Its strategy to nearly double revenues by 2030 – anchored on its core, modern product line – is credible. The leadership does not throw around baseless projections, but rather build on a historically strong execution and increasing demand for Embraer’s products.

For a well-rounded aerospace exposure beyond the Airbus/Boeing duopoly, Embraer shines. Yes, the company sits in Latin America, which has proven to be volatile in the past, however the landscape is changing and the economy is stabilizing, further solidifying an investment case. Most importantly, the pipeline is incredible: Eve commercialization is likely to come soon, Defense spending grows exponentially, commercial aircraft demand is booming, while private jets are as prevalent as never before. Embraer is at the intersection of all that. The company is a diversified behemoth in the sector and has a very bright future.

$EMBR3
$ERJ (+0,51 %)
$AIR
$BA (+0,8 %)
$BOMBF
$BDRXF
$TXT (+0,74 %)

Finally, the move to Bahrain is completed. My Austrian portfolio now is officially dissolved and there is a lot of free capital for the road ahead. Stay with me as I briefly dive into all holdings of my new portfolio. Follow my trades and take a look at my portfolio for yourself.

No matter the broker or location, the goal remains the same: Making money in a predictable and transparent way, based on (as) objective (as possible) metrics.

I try to judge companies not by their technicals or hype and would never claim to understand either of them, but rather on their fundamentals: cold, hard numbers. Another crucial attribute of my portfolio is diversification. Ultimately, I aim to hold around 25-30 companies in my portfolio, balancing variation with concentration.

There are two kinds of companies in my portfolio:

·     Stable, cash-flow-generating companies with solid growth, preferably a sizeable moat to a low/fair valuation (e.g. $EFX or $MSCI)

·     Unique, innovative companies with explosive growth, revolutionizing industries that offer higher rewards, while also bearing more risks (e.g. $OSCR, $DLO or $NU)

Cash – 56%

USD currently accounts for the majority of my portfolio. This is due to the fact that I just recently opened the new brokerage account. I plan to reduce my cash position gradually over the following months, although not as aggressively as I might had done a few months ago.

The market has been going through a major recovery since the April lows induced by the “Liberation Day” tariff news. The big catch: In my opinion, the risks paired with high tariff rates have not disappeared, just because the world got a 15% tariff instead of 20% one.

There could still be a bumpy road ahead, since the impact of the tariffs hasn’t fully materialised in companies’ earnings reports yet, which is likely to change in Q3 and Q4. As of now we just saw a demonstration of Trump’s “Art of the Deal” that convinced the stock market that reduced tariff rates, which are still much higher than last year’s btw, now suddenly don’t affect the economy anymore.

Undoubtedly President Trump’s negotiation tactics seem to pay off, to the better or worse, which is exactly why the entire cash position in my portfolio consists of USD. The Euro is dropping again compared to the Dollar after a new trade deal was announced just last week, in which a toothless, divided European Union had nothing to counter the USA with. I assume the Euro will continue to weaken in the coming quarters and therefore won’t be changing much in my currency allocation.

MSCI Inc. – 4% ($MSCI (+0,53 %) )

I believe $MSCI is an indestructible giant in an industry practically impossible to enter as a newcomer. You can imagine $MSCI as the $SPGI for international markets. $MSCI is a provider of global investment decision tools, including popular indices like the MSCI World, ESG analytics and portfolio risk models mainly serving institutional clients.

The stock is currently trading at a historically low valuation of a 36 P/E ratio, far below competitors like $SPGI. I recently opened a position in the company and subsequently made it my largest position, which constitutes around 4% of my total holdings. Furthermore, I plan to make it a key position of my portfolio for the future, which means I will continue adding to this holding over the few next months, preferably at an even lower valuation.

dLocal Ltd. – 3.7% ($DLO )

$DLO is a Uruguayan fintech company, providing major companies like $AMZN or $GOOGL with payment solutions mainly in South America, but also expanding to other emerging markets.

It connects merchants globally through their simple one stop shop solution and earns money with the accompanying fees. $DLO is led by a stellar leadership: Sebastian Kanovich (founder and brain behind $DLO) and Pedro Arnt (seasoned Latin America veteran who played a key role in $MELI’s success).

Yes, the fintech space is crowded, but the closest competitor to $DLO is $ADYEN, which operates globally, but is less present in emerging markets. And again, $DLO has faced some issues in the past with a fraud investigation, but that’s behind the company now.

$DLO operates in a market with massive growth potential, which the platform already delivers on year over year with revenue growth in the mid to high double digits. I will continue buying this stock, especially while it is trading at a ridiculously low forward P/E ratio of about 19. This is one of my highest conviction plays and I will publish a deeper dive into the company soon.

NU Holdings Ltd. – 3.7% ($NU (+0,15 %) )

I acknowledge that this is already the second fintech company based in Latin America but hear me out and let me explain why it makes sense to own both $DLO and $NU. In contrary to $DLO, $NU is a bank. Not a classic bank like you might think, a highly innovative digital bank revolutionizing the banking industry in Brazil and soon all over South America.

$NU impresses with its dominant market position and rapidly expanding customer base. The platform serves 59% of Brazil’s adult population of which 60% already use it as their primary bank. Undoubtedly, these numbers are highly impressive and reflected by rapid growth in revenue as well as earnings.

Nevertheless, the Brazilian market is conquered and now it is time for the founder-led management to expand to other countries with a similarly successful execution. $NU is currently trading at a P/E ratio of 23, which is elevated compared to other players in South America, but highly warranted for faultless execution, robust growth and great potential, similar to $MELI.

ASML Holding N.V. – 3.7% ($ASML (+1,1 %) )

$ASML is a European semiconductor company that forms the backbone of the entire global chip industry with their highly advanced machines needed to produce the most sophisticated chips.

Nevertheless, the stock has taken a beat over the last few weeks, due to several detrimental factors. Not the least of it is $ASML’s location. The company faced a lot of uncertainty around US-EU trade relations, which has now vanished, although probably not in the way $ASML would have wished.

Another factor that puts pressure on the share price is the lowered forecast $ASML reported in the last earnings report, which still showed impressive double-digit revenue and earnings growth.

However bad all that may sound, it doesn’t change anything in $ASML’s almost monopolistic position within the chip industry. The chip maker has a gigantic moat, probably the largest of any company in my portfolio. China is lacking behind its technology, and American companies are heavily reliant on $ASML’s goods.

Therefore, $ASML is a company I buy to hold. In my opinion, it currently presents a great risk/reward opportunity trading at a historically low P/E ratio of 26, double-digit, organic growth ahead and a moat that is not expected to shrink in, at least, the near future.

Fiserv Inc. – 3.6% ($FI (+0,79 %) )

I know what you might think: Another fintech company? Firstly, I assure you this is the last one in my portfolio and secondly give me a chance to explain why $FI is different. $FI offers a wide range of financial technology and services across the global financial sector, including banks, credit unions, securities broker dealers and many more.

Unlike $NU and $DLO, I don’t consider $FI an explosive growth revolutionary, but rather a company, boasting organic revenue growth around 8% YoY, while optimising profitability rapidly, with a large customer base across the world, that has been beaten up by the stock market due to trivialities. Let me be clear: $FI is a value play.

$FI stock is trading at a forward P/E of 13, which is a bargain, considering $FI’s position in the market, solid growth and institutional customer base that values consistency, reliability and a proven track record. Thus, $FI is a buy for my portfolio, and I will add to my position if the opportunities arise.

Equifax Inc. – 3.5 % ($EFX (+1,35 %) )

$EFX is a perfect example for company that doesn’t look very exciting on the outside, but has a lot to offer once you take a closer look. But what do they actually do? You can split $EFX’s revenue in different segments. In my short thesis I’ll focus on the two most important and exciting parts of the business.

$EFX is a credit bureau, which inherently function as oligopolies, while organically growing along with the economy. The credit ratings business is virtually impossible to enter and $EFX shares this space with only very few others in the US. Furthermore, it’s an industry that is never going to disappear, but rather strengthen over time. A huge catalyst for this part of the business is lower interest rates, which are likely to be seen in the coming months.

However, the even more interesting segment of $EFX’s business is their workforce solutions: Basically, a work verification tool offered to the government and private institutions which can be used to prove the income people have. It’s crucial to lenders to know who they are giving out credits to and whether they have the means to repay them. That is a highly versatile, rapidly growing business and accountable for the lion’s share of $EFX’s revenue.

Consequently, a forward P/E ratio of 30 is highly justifiable and seems to be on the cheap side, considering $EFX is operating in a high-margin industry with very few competitors. I will be buying the dips in this stock over the next months.

Novo Nordisk A/S – 3.4% ($NOVO B (+0,51 %) )

$NVO is the most recent addition to my portfolio, after using the slaughter of the company’s stock yesterday after disappointing earnings as a buying opportunity. $NVO’s stock was temporarily down almost 25%, after slashing their guidance for the full year on both the revenue and the earnings front.

Nevertheless, one of my favourite quotes about the stock market comes from Baron Rothschild and reads as follows: “Buy when there’s blood in the streets even if the blood is your own.” Still, I don’t want to downplay the horrible numbers presented during the earnings report paired with the introduction of a new CEO.

However, I base my investment on two key assumptions. Firstly, I think the new CEO set the bar for the full year results deliberately low and hasn’t even mentioned promising new medications with one word, which could change in the following months. And my second reason is a macro trend: Obesity rates are climbing worldwide and while $NVO is struggling in the US, partly due to the strong EUR (already reversing right now), the new CEO emphasized in the earnings call that global growth remains strong.

As a result, I believe that the recent sell-off is massively overblown and the stock will recover from these levels fairly quickly and rise to new heights in a few years. The stock is trading at a forward P/E of 12 while maintaining a competitive position in a high-margin, fast growing market with a long runway ahead worldwide.

Gambling.com Group Ltd. – 3.2% ($GAMB (+0,93 %) )

The stock is trading like a sin, while boasting numbers like a saint. Online gambling, especially sports betting is prevalent in our society and growing fast. $GAMB operates as a performance marketing company for the online gaming industry globally.

There is not much to say other than that the numbers are fabulous, the growth is exceptional (>20% CAGR in revenue and net income) and the industry is booming right now. The stock is trading at a 11 forward P/E ratio and the company is estimating continuing double-digit revenue and EPS growth for the next years, which makes it a solid pick for me right now.

UnitedHealth Group Inc. – 2.9% ($UNH (+0,53 %) )

Many high-quality companies enter a phase where they encounter short-term obstacles and subsequently get their stock price killed. We saw that with $NFLX and $META in 2022 when both these giants lost clients temporarily. But what happened since then? Right, they recovered and rose to new heights.

$UNH is the largest health insurance provider and after all the 9th largest employer in the US. The company is troubled by rising healthcare costs and a recent change in leadership. Although all that may sound scary, in my opinion, these are short-term concerns, and we are likely to have reached the bottom of the stock decline and will see a steady rise from now forward.

Therefore, I am doubling down on my position and continue adding more shares, especially while the stock is trading at a forward P/E ratio of 12.

M1 Kliniken AG – 2.8% ($M12 (+0,79 %) )

I know this might seem like a very unique and unusual pick. A German small-cap company running beauty clinics, but you might reconsider after diving further into the company’s fundamentals and some statistics.

The European aesthetic medicine market is forecast to reach $86.9 billion by 2030, growing at a CAGR of ~15%. Germany represents nearly 25% of the European market share and the market for medical aesthetics is expected to climb at a CAGR of ~18% until 2030.

I am bullish on $M12, due to their positioning in the market and capitalization on the beauty trend, exacerbated by social media and foreigners laying their trust in German hands.

Analysts’ estimates suggest 10% growth annually in $M12’s revenue over the next years, which seem to be more on the conservative side. The stock is trading at a 15 forward P/E ratio and a solid pick if you are aiming for diversification.

Embraer S.A. – 2.5% ($EMBR3 )

$ERJ is a Brazilian aircraft manufacturer, operating in commercial, private, and military aviation.

The manufacturer is third after $AIR and $BO in commercial aviation, but impresses with a backlog of $13.1 billion, up 16% YoY, and a book-to-bill ratio of ~1.8x, almost twice that of $AIR and $BO.

While Commercial Aviation still leads in a direct segment comparison within the company, Executive Aviation is catching up rapidly with a backlog surge of 62% YoY to $7.4 billion and Defense even doubled to $4.3 billion.

Momentum is a big driver of this stock: $ERJ increased deliveries over 30% from Q2 2024 and has secured multiple high-value contracts. The macro environment also plays $ERJ in the cards massively: Regional jet demand is rising globally, business aviation grows faster than ever before, while Defense spending reaches record highs.

Therefore, I believe $ERJ is a great investment to diversify into the aerospace sector, with superior book-to-bill ratio and strong diversification to competitors. Rapid double-digit growth, forecast as well as achieved, and strong momentum justify a forward P/E ratio of 20, even though I would have a better feeling adding to my position if the stock climbed down a bit more.

Eli Lilly & Company – 2.2% ($LLY (+0,8 %) )

$LLY is operating in the same field as the prior discussed $NVO, although experiencing fewer headwinds. Similarly to $NVO the same statistics apply: Obesity rates are expected to rise rapidly and affect more than 3 billion people globally by 2030.

Specifically tailored to $LLY, I think the company is in a strong position to dominate the US market, while $NVO might shift its focus more on international opportunities, probably exacerbated by a Trump’s “Made in America” approach. $NVO’s weakness is likely to boost $LLY’s sales and dominance in the US.

The fundamentals of $LLY speak for themselves with high double-digit growth all across the board and a justifiable forward P/E of 30. Considering the growth and quality of this business, a P/E of 40 would still be highly competitive. I am adding to my position right now, even though I consider $NVO the better buy, if you are willing to accept slightly more risk.

Mobileye Global Inc. – 2.2% ($MBLY )

Now we get to a company that could really be a key driver in revolutionizing a sector. $MBLY engages in the development and deployment of advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. $MBLY is a compelling buy right now, after the management raised the guidance for 2025 and commented positively on a bright future.

Commercial development of autonomous vehicles is starting. The ADAS industry is booming and $MBLY commands over 50% of the global market share. Many regions are mandating safety technologies like those $MBLY is offering. The robotaxi market is poised to grow massively in the next years and $MBLY is at the heart of it.

Consequently, I will be buying more of this stock, always considering the risk of the industry not yet being fully developed and uncertainty around who will eventually be the market leader, though I think $MBLY is in a good position to strike partnerships with major long-established car makers no matter who wins the race.

Oscar Health Inc. – 2.2% ($OSCR (+1,76 %) )

$OSCR is another revolutionary, this time in the space of health insurance, providing a cloud-native insurance platform. This enables a range of options for the user; from mobile signup to claims analysis and provider navigation. $OSCR poses a major threat to traditional carriers at least in the long run.

Though prospect isn’t the only thing $OSCR can score with. Major catalysts for the company are its strong numbers and experienced, professional management. Mark Bertolini (former CEO of Aetna) took over in 2023, bringing decades of expertise in the insurance sector to the table. He immediately set clear financial goals like 20% revenue CAGR by 2027 and is confident about achieving them.

$OSCR is hitting its targets and growing rapidly, that combined with a management that has a straightforward vision convinced me to open a position, which I will build up in the future.

Conclusion

With this portfolio I am trying to strike a balance between stable giants and innovative disruptors, with a mainly fundamentals-driven approach without disregarding diversification or the macro picture. My aim is to reflect both high-conviction plays and undervalued value gems.

Ultimately, while I will reduce my cash position over the next months, I will do it strategically and opportunistically, while staying cautious amid tariff impact uncertainty and possible market volatility.