Alphabet, Google's holding company, continues to be one of the most solid examples of long-term value creation. Although the risks associated with its business have been widely mentioned, notably the lawsuits threatening the sale of search and the impact of LLMs on the search engine's growth, the company has proved resilient.

Its business model combines scalability, profitability and a continuous commitment to innovation:

- Market dominance: it has more than 90% of the global search market and more than 2 billion active users on YouTube; 📊

- Highly profitable model: robust operating margins, cash generation capacity and an ROIC of over 35%; 📈

- Growing diversification: although 75% of revenue still comes from advertising, the accelerated growth of Google Cloud and digital subscriptions (YouTube Premium, Google One) is reducing this dependency; 🚀

- Betting on AI: Alphabet is integrating Gemini into Search, YouTube and Workspace, opening up new sources of monetization; 📌

- Robust cash reserves: more than 100 billion dollars in liquidity, making it possible to finance massive investments in AI and infrastructure without compromising financial strength; 💼

- Long-term strategic options: through Other Bets, it maintains exposure to emerging areas with high growth potential, such as autonomous mobility (Waymo), digital health (Verily) and longevity (Calico).

This balance between highly profitable core business, growth diversification and disruptive strategic bets is what makes Alphabet a unique company and an investment that continues to deserve attention.

🔎 If you want to know more about this investment opportunity visit the full analysis at: https://open.substack.com/pub/dalemcapital/p/alphabet-inc-analise-completa

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The shares of PepsiCo ($PEP (+0,07%) ) rose sharply on Tuesday following a report in the Wall Street Journal. At times, they gained around four percent. The background to this is the entry of activist investor Elliott Investment Management, which has reportedly acquired shares worth around four billion US dollars in the drinks and snacks giant.

This position makes Elliott one of the five largest active investors in the group, excluding index funds. The newspaper also reported that the fund wants to push for changes at PepsiCo in order to revive the recent weak share price performance. It is not yet clear which specific measures could be the focus.

The group itself has been battling headwinds for several quarters: Pepsi has lost market share to rivals in the important soft drinks business, while the snacks and food segment, long celebrated as a growth driver, has also come under increasing pressure.

The investment is one of the largest single positions in Elliott's history. Observers see this as a signal that the fund could initiate a correspondingly ambitious campaign to realign PepsiCo.

> $PEP (+0,07%)

> $KO (+0,12%)

Never mind then more Asbach, the Semper Underberg AG Group

$DE000A383FH4 (+0%) WKN A383FH or

Jack Daniels from the Brown Forman Group in your glass

Have a nice Sunday

Brown-Forman is an American beverage company based in Louisville, Kentucky. The company was founded in 1870 by George Garvin Brown and is now a global market leader in the spirits industry. Brown-Forman's well-known brands include¹ ² ³:

- *Whiskey brands:*

- Jack Daniel's: One of the most recognized whiskey brands in the world

- *Woodford Reserve*: A premium whiskey from Kentucky

- *Old Forester*: Another classic whiskey from Brown-Forman

- The Glendronach*, *Benriach* and *Glenglassaugh*: Scottish single malts

- Tequila brands:*

- *el Jimador

- *Herradura*

- *Other brands:*

- *Canadian Mist*: A Canadian whiskey

- *Chambord Liqueur*: A French liqueur

- *Gin Mare*: A Spanish gin

Brown-Forman has a long history and is known for its high-quality spirits. The company employs over 5,000 people worldwide and is listed in the S&P 500. Brown-Forman has been active in Germany since 1996 and founded its own marketing and sales company in Hamburg in 2010.

Brown-Forman has currently undergone a restructuring process in which over 600 jobs have been cut, which corresponds to around 12% of the workforce. This is intended to secure the Group's further strategic growth. In addition, the cooperage in Louisville was closed in order to source barrels from third-party suppliers.⁴

Pepsi-Cola $PEP (+0,07%) was 127 years old yesterday, who would have thought it?

It was developed by pharmacist Caleb Bradham in North Carolina in 1893.

At first he called the "drink" after his own name: Brad's Drink

On August 28, 1898, he renamed it "Pepsi-Cola" in reference to the digestive enzyme PEPSIN.

As we know it today, under the name "PepsiCo", was the result of the merger between Pepsi-Cola and Frito-Lay.

I don't drink it myself, but I enjoy having it in my stash. It has been increasing for 53 years and is therefore a king among dividend payers. In the last 10 years, the dividend has increased by 7.5% annually. However, the share price has fallen since 2022.

Enjoy the drink or the bottoming out of the share.

The rest is history - I hope not so the share.

About a year ago @7Trader brought me to Celsius. Since I got in there has been a lot of chaos and I am now around breakeven. After I often wanted to sell, I always had the thesis that Pepsi would buy more of Celsius to sell Rockstar. What can I say, today part of the thesis is working out:

BOCA RATON, Fla. & PURCHASE, N.Y.--(BUSINESS WIRE)-- Celsius Holdings, Inc. (Nasdaq: CELH) ("Celsius Holdings") and PepsiCo, Inc. (Nasdaq: PEP) ("PepsiCo") today announced an agreement to strengthen their long-term strategic partnership. As part of the agreement: (i) Celsius Holdings' Alani Nu® brand will move into the PepsiCo distribution system in the U.S. and Canada, (ii) PepsiCo has acquired $585 million in newly issued convertible 5% preferred stock while extending its existing preferred stock to the same conversion period and (iii) Celsius Holdings has acquired the Rockstar Energy® brand in the U.S. and Canada from PepsiCo. PepsiCo will continue to own the Rockstar Energy brand internationally. Celsius Holdings will become the PepsiCo strategic energy lead in the U.S., managing the CELSIUS®, Alani Nu and Rockstar Energy brands, while PepsiCo will lead distribution for the Celsius Holdings portfolio in the U.S. and Canada.

$CELH

Holding on as long as the thesis stands is not easy, but it can pay off.

$PEP (+0,07%)