Matt Kacur

He doesn't expect the same returns in 2026 as in 2025 or for the last 3 years, which averaged 23% annually vs. the historic 8-9%. Tech will remain his largest sector as well as on the S&P; the fundamentals are strong and growth is tremendous. This isn't speculative. He's fully invested and slightly overweight tech. He also favours materials, especially gold, which is a hedge against inflation and the go-to when there's geopolitical risk. Gold stocks remain very cheap with good cash flow. There isn't over-mining and margins remain good.

Energy isn't strong now. He is underweight. But there's nothing wrong with CNQ, is one of the better energy stocks. Is not excited about energy. He sees improving return in invested capital with CNQ, and the valuation is reasonable. 

Splitting doesn't make the company bigger, but more accessible and the current price of $238 is still accessible to most investors. Splitting tends to happen at $1,000. Long-term, RY could be the best bank in the world. It's super-consistent, very well-run and not expensive. This is a buy, hold and forget about it.

He always had trouble understanding it, given all its acquisitions. Too complex though it has brand recognition and is well-run. Hold on, if you own. But he loves this sector. 

SPGI and MSCI provide data to stock markets, which is a good business: recurring revenue, high-return on capital, consistent and they supply a volume of data. Doesn't like TRI.

SPGI and MSCI provide data to stock markets, which is a good business: recurring revenue, high-return on capital, consistent and they supply a volume of data. Doesn't like TRI.

It's solid at this level, nothing wrong with it. They didn't need to cut the dividend; they generated enough cash flow. They pay an 5.43% dividend, sustainable. Restructuring could work.

The market sees AI as a threat to ACN's business, but the sell-off has been overdone. ACN has an opportunity to do really well by helping companies deploy AI. He believes ACN will find a way. Fundamentals remain very good. This is an opportunity. Innovation happens all the time, and there's always a need for consulting, even with AI. Plus, ACN has a 30-year track record.

Excellent. Offers consistent 14-15% returns, 18% in the last 4 months. Is not expensive. 

Is not bullish energy, but the Venezuela news won't effect oil that much. ATH is excellent in terms of quants: improving return on invested capital, from 0% in 2020 to 10% in the past 4 quarters. They have a clean balance sheet. Likes it. 

Offers consistent 10-15% returns over the past 10 years, 15% currently. At fair value and are improving operations.

Very good fundamentals. Has owned this 10 years. Great since August. A hold for the long term. His return is 41%, though the valuation is now high.

Offers a consistent 50% return on capital and is not expensive nor volatile. Has a clean balance sheet. You can buy a tranche now.

Is a long-term buy and hold. Has owned this for 20 years. Would add now. Not worried at all about this pullback. Is the #1 recurring revenue business in the world. Not expensive. Is massive and trades at a beta of 1. Will beat the market long-term. As high a quality as you can get. Clean balance sheet. 24% return on capital. They make great products. The top software name.

Has owned this for 1.5 years. Fundamentals and return on capital are improving to 16% (high for a commodity). Is his silver play.