IDEXX Labs

Today I‘m sharing with you my main portfolio. This doesn’t include any ETF investments and crypto currencies / gold etc. since I want to focus my presence on getquin on stock-picking.

Read my 3-part portfolio strategy posts to get the full picture - here are just the main pillars of what I‘m doing:

Long-term buy and hold (average holding time 5+ years at least)
Focus on high-ROIC compounders riding secular trends (top-tier capital efficiency)
High margins, strong FCF growth, large moats (7 powers strategy)
Holding not more than 20 stocks at a time while mainly focusing on US and EU based companies

I like to divide my holdings into „core holdings“ (forever stocks) and „trend picks“ (2030 stocks) as follows:

Core Holdings (“Forever Stocks”):

Growth Picks (“2030 Stocks”):

20Positions

37,12 %

4 Commentaires

risk_taker_1816@risk_taker_1816

1Mo

Amazon 2,5k% Plus damn what’s you’re buy in on that one

•

Afficher la réponse

wealth.builder101

@wealth_builder101

1Mo·

My portfolio strategy (part 3)

I use the 7 Powers framework from the book “7 Powers: The Foundations of Business Strategy” by Hamilton Helmer. It’s a killer framework for understanding why some businesses create lasting value and compound returns over time.

Each “Power” is a sustainable strategic advantage that lets a company generate outsized returns for a long time. I ask the 7 questions for each stock I am considering to buy.

1. Counter-Positioning

What it is: A new entrant adopts a superior business model that incumbents can’t copy without damaging their own biz.
Example: Netflix vs. Blockbuster. Blockbuster couldn’t move to streaming without killing its DVD revenue.
Why it matters: Creates asymmetric pressure; the old guard is paralyzed.

2. Scale Economies

What it is: Unit costs drop as volume increases.
Example: Amazon, Costco. Bigger = cheaper = stronger moat.
Why it matters: Hard to compete if you can’t match their cost base.

3. Switching Costs

What it is: Customers stick around because switching is painful.
Example: Adobe Creative Cloud, Microsoft Office, Salesforce.
Why it matters: High retention = stable cash flows = compounding machine.

4. Network Effects

What it is: The product gets better as more people use it.
Example: Meta, Visa, LinkedIn.
Why it matters: Leads to dominance, creates a feedback loop of growth.

5. Branding

What it is: Emotional or symbolic value, not just functional.
Example: L’Oréal, Hermès, Apple.
Why it matters: Lets companies charge premium prices and keeps customers loyal even if alternatives exist.

6. Cornered Resource

What it is: Exclusive access to a critical asset — talent, IP, data, supply.
Example: ASML (EUV tech), Novo Nordisk (Ozempic IP), Ferrari (brand + heritage + team).
Why it matters: If no one else can get it, you win.

7. Process Power

What it is: Unique internal processes that drive efficiency, innovation, or quality — and are hard to copy.
Example: Toyota (lean manufacturing), Amazon (logistics, culture of innovation).
Why it matters: Long-lasting edge baked into the org’s DNA.

If I had to chose one, Network effects would be the most important one for me.

Here are my current holdings:

1Mo·

My portfolio strategy (part 2)

Concentrate on the following sectors: Tech, consumer, healthcare, financial (excluding banks), industrials
Smallest position size 2% / largest position size 15%
Only sell a position when it can be replaced with a position that increases the overall quality of the portfolio
Avoid companies with little to no track record or companies going through a restructuring phase

Here are my current holdings:

2 Commentaires

1Mo

I see a lot of similarities to my strategy! Could it be that you watch a certain Youtuber with the initials JC? 😏

•

Afficher la réponse

wealth.builder101

@wealth_builder101

1Mo·

My portfolio strategy (part 1)

My Portfolio is a selection of 15-25 companies which I am buying and planning on never selling. The overall criteria for my #investableuniverse are the following. I will go in-depth in another post:

Little capital needed to run the business (high ROCE)
High returns on invested capital (high ROIC)
Profitability track-record with high gross margins / operating margins / high free cash flow margins
High free cashflow growth / substantial revenue growth
Global revenue diversification
Low cyclicality
#tollbooth Company - Large moat / brand name in the industry / no alternatives to the product
Predictable sources of future growth / global trends

Here are my current holdings:

6 Commentaires

1Mo

i like it !

•

Afficher la réponse

Kate🦋

@Iwamoto

2Mo·

My favorites in the healthcare sector 💉👩🏼‍⚕️🧬💊

Good evening everyone,

Here are my favorites for the health sector.

Novo Nordisk $NOVO B (+1,03 %)

Stryker $SYK (+0,27 %)

Intuitive Surgical (P/E ratio 70, P/B ratio 19 🤑) $ISRG (-0,12 %)

Astra Zeneca $AZN (-0,17 %)

Zoetis $ZTS (+0,09 %)

Idexx Lab. $IDXX (+0,5 %)

Amgen (profit margin declining) $AMGN (-1,29 %)

I would be interested to know what your favorites are for a long-term investment?

Kate🦋

@Iwamoto

2Mo·

Sector realignment of my portfolio - a look at returns, risks and allocation

I would like to use the current "black time" to structure my portfolio better and diversify it more. So far, I have overweighted some sectors rather arbitrarily, while others are completely absent. 😅

In order to achieve a more sound, sectoral diversification, I have looked at two things:

1. the long-term performance of the sectors in the S&P 500

2. the maximum drawdowns of these sectors over different time periods

----------------------------------------------------------------------------------------------------------

The following table shows the average annual returns of the S&P 500 sectors over 10, 20, 30 and 40 years.

It is striking: Some sectors have performed significantly better than others over longer periods of time. Particularly noteworthy are

- Information technology

- Healthcare

- Consumer staples (cyclical consumption)

These sectors achieved long-term average annual returns of over 10% p.a.

By contrast, the following sectors performed less convincingly:

- Energy

- Materials (basic materials)

- Real estate

----------------------------------------------------------------------------------------------------------

Unfortunately, historical drawdown data by sector is limited and not uniformly available. Nevertheless, a clear trend can be identified: The available data shows that defensive sectors tend to have lower drawdowns, while cyclical sectors are more prone to larger declines. So it looks like sectors such as consumer discretionary and healthcare tend to have lower maximum drawdowns, while sectors such as financials and energy have had the sharpest declines.

In the next step, I looked at the current (2024) market weighting of the sectors in the S&P 500, i.e. a market capitalization-weighted allocation as a passive ETF would reflect it:

Information Technology 28%

Healthcare 13 %

Financial services 12 %

Consumer Discretionary 10%

Communication services 8 %

Industry 8 %

Consumer staples 6 %

Energy 4 %

Utilities 3 %

Materials 2.5 %

Real estate 2.5 %

This is the first time I realize how much you have to overweight or underweight a sector in order to have the greatest probability of hypothetically beating the market in a fictitious, ideal scenario by means of sectoral overweighting and underweighting.

For example, only a weighting of well over 28% in information technology would have led to a possible outperformance.

Conversely, only a complete abandonment of the real estate sector could have made a positive contribution. (in retrospect)

Of course, this is a gross oversimplification, as each sector consists of a large number of companies of very different quality. Nevertheless, valuable insights for the strategic portfolio orientation can be derived from this.

----------------------------------------------------------------------------------------------------------

But now I'm at a crossroads.

Option A

I analyze current valuation ratios such as P/E ratios, Shiller P/E ratios or earnings growth per sector and decide on this basis which sectors appear most attractive for the future, i.e. an active, forward-looking approach.

Option B (my favorite):

I take my cue from long-term, historical average returns and risks and use them as a guide for strategic allocation - in other words, a more rule-based approach with a rational derivation.

----------------------------------------------------------------------------------------------------------

My sectoral target portfolio, based on risk-return profile and personal preference, could look like this:

Let's start from the back, the weakest sectors such as energy, real estate, utilities and basic materials have proven to be underperforming and often volatile over the long term. In total, I would therefore like to limit these to a maximum of 10% of my portfolio.

Industry 8 %

Financial services with 9 %

Communication services 10 %

Consumer staples with 13 %,

Healthcare 15 %

Consumer staples 15%

Information technology 20 %

The above weighting aims to create a portfolio that is both growth-oriented and risk-optimized in the long term.

----------------------------------------------------------------------------------------------------------

Conclusion 🤓

With this train of thought, I am pursuing a systematic and long-term approach that takes both opportunities and risks into account. The aim is to create a portfolio that remains stable and profitable in different market phases. Of course, it will not always be easy to implement these weightings perfectly in practice, but this strategy provides a clear direction as a basis.

----------------------------------------------------------------------------------------------------------

Sources 🤯

www.portfoliovisualizer.com

www.spglobal.com/spdji

JP Morgan Asset Management - Guide to the Markets

www.ishares.com

www.vanguard.com Principles for Investing Success

Global Industry Classification Standard (GICS)

www.investopedia.com

www.bogleheads.org

7 Commentaires

Dividendenopi👴@Dividendenopi

2Mo

$REGN

•

Tenbagger2024

@Tenbagger2024

4Mo·

Idexx Laboratories goes one better and shares rise to a four-month high

$$IDXX (+0,5 %)

Idexx Laboratories ( IDXX ) clearly exceeded Wall Street's expectations for the fourth quarter on Monday. Idexx shares reached a four-month high.

Idexx manufactures diagnostic products for veterinary practices. In the December quarter, the company earned 2.62 dollars per share on sales of 954 million dollars. On a purely balance sheet basis, profit rose by 13 percent, while turnover increased by 6 percent. Both figures exceeded forecasts, said Ryan Daniels, analyst at William Blair, in a report to clients.

Daniels acknowledged that a decline in vet visits weighed on Idexx shares. However, higher prices and an increase in the number of new pets - thanks in part to the "pandemic puppy boom" - should help offset some of the slump in vet visits, he said.

"We believe the aging pet population will begin as early as this year and peak in 2030 or 2031, creating a growing need for veterinary care (especially diagnostics), which will provide a solid long-term tailwind for the industry," he said.

On the stock market today, shares of Idexx rose more than 11% to 470.29. It was the first time since September that shares rose above their 200-day moving average.

Mixed forecast from Idexx Laboratories

Notably, recurring revenue from pet diagnostics rose 6% in the three months to December 31. This was in line with Idexx Laboratories' forecast of organic growth of 5.8 % to 6.4 %.

For the year, Idexx forecast sales of just under 4.06 to 4.17 billion dollars. The midpoint of the forecast was below analysts' projection of $4.14 billion, William Blair's Daniels said. However, the midpoint of the company's profit forecast exceeded expectations. Idexx expects earnings of 11.74 to 12.24 dollars per share.

Daniels maintained his Outperform rating on Idexx shares.

"Overall, we still view the veterinary market as a safe investment area due to its resilience to recessions, strong pricing power, lack of political risk and favorable demographics," he said.

https://www.investors.com/news/technology/idexx-laboratories-earnings-q4-2024-idexx-stock/

Raising I.

@RaisingInvestorIQ

9Mo·

Despite going sideways since the fourth quarter of 2020, $IDXX (+0,5 %) has returned roughly 640% over the past ten years, which is a mile above the already impressive 234% return of the S&P 500.

Raising I.

@RaisingInvestorIQ

9Mo·

$IDXX (+0,5 %) has a lofty valuation...but with strong financials, consistent revenue growth, and long-term growth prospects, is it still an opportunity right now🤔

Titres populaires

Meilleurs créateurs cette semaine

Données en temps réel par LSX · Données financières de FactSet