Constellation Software Inc. (CSU-T)

Great business model, management team, and culture. They go quietly about their business. Focused on vertical markets, which is extremely fragmented and the pieces can be bought by a serial acquirer for modest multiples. A friendly buyer, very profitable.

Owns the stock, but doesn't own the debenture rights anymore. Debentures have the advantage of good credit quality plus inflation protection. He didn't want the exposure, so sold the rights.

It has done very well but is maybe overdone, so you could trim your position. It is well positioned in the tech sector but he prefers others with more attractive prices.

It's had a good run. Any uptrend will see a consolidation period which is happening now. Nothing wrong with that. Could pull back slightly. The story is intact long term.

Great company with strong history of M&A.
Also organic growth recently.
Does not owns shares currently.
Higher interest rates makes funding costs tough.
Wait for pullback before investing.
Quality company for long term investors.
Excellent management team. 

Hard-pressed to find any downside. One of the best stocks on the Canadian market. Average rate of return is 34%. May pause, but doesn't look like slowing down. Make sure it stays above a trend line, or apply moving averages and keep holding as long as it stays above the 200-day MA. It's more a buy and hold, not a trade.

Growth appears to be continuing. 
Expecting larger acquisitions going forward.
Inflation not impacting business.
Organic growth and pricing power very strong.
Current share price a good time to buy. 
Excellent management team - very skilled at capital allocation. 

Pretty solid growth name. On a PEG basis, still a favourable name. 

They are the global king of software vertical integration. He expects their growth to continue, even though they are already a massive company. The company is plateauing now. $2,780 is his price target.

Wonderful compounder of capital. Amassing capital through rights offering and spinoffs. Wonderful management team, great balance sheet. Foolish to bet against its history. Yield is 0.19%.

Leader in Canadian infotech. Next expansion phase is underway, confirmed by its breaking out to new all-time highs. Fantastic chart, great name.

Very well run, respected management. Favourable market for it to make less expensive acquisitions. If you own it, can hold for the long run.

Likes it. Most software companies are horizontally built, but CSU has vertical silos. Shares have come off a bit. He targets $2,925, so it has a good runway. They 7 silos, including healthcare and manufacturing. They built their acquisitions under those silos vs. other software companies that bring out a software and say it's for the masses.

He is a big fan of it and of the CEO Mark Leonard. It has acquired hundreds and hundreds of smaller software companies that have narrow markets, and then successfully integrated them. There are still lots more VS companies to buy and there is now the additional theme of AI.

If you own it, hold. If you don't, you can start building a position at current levels. Grown tremendously, so the question is whether their business will scale? Rigorous discipline has made it such a success. Doesn't overpay for acquisitions. High internal ROI rates have led to consistent growth and good EBITDA margins. Balance sheet is pretty good.

Massive company very good at software M&A.
Organic growth also going smoothly.
Excellent management team that is very good at capital allocation.
Founder led. 
Expecting further share price growth.
Vertical integrator of software business units.
Earnings growth compounding at 20%