Theses
Investment cases defended before the Committee.
Every thesis follows the same flow: screening, 2-page pitch book, full equity research with DCF and multiples, and a formal defence.
Technology
ASML — structural monopoly in EUV
Sustainable pricing power backed by its unique position in EUV lithography and a backlog covering >2 years of deliveries.
Tech team · 12/03/2026
HealthcareNovo Nordisk — GLP-1 and margin expansion
Leadership in obesity/diabetes with Wegovy/Ozempic, increasing capacity and a regulatory moat.
Healthcare team · 20/02/2026
EnergyIberdrola — regulated revenue + renewables
Capex directed to regulated networks in the US and the UK; defensive profile with visible growth.
Energy team · 15/01/2026