The Watchlist: High-Quality Compounders in Healthcare & Tech
A live tracking list of high-quality businesses I am researching. Waiting for the intersection of clinical excellence and a margin of safety.
This is a living document of the businesses I am actively researching.
I do not buy stocks just because they are "cheap." I am looking for a specific setup that rarely happens:
- High Quality: A durable moat, high returns on invested capital (ROIC), and honest management.
- Circle of Competence: Businesses where I have a structural edge in understanding the product (primarily Healthcare and Life Sciences).
- Margin of Safety: A price that assumes average execution, not perfection.
The table below tracks the companies currently on my "Radar." These are not yet in the portfolio, but the research is underway.
| COMPANY | TICKER | THE CLINICAL EDGE (My Thesis) | MOAT | STATUS |
|---|---|---|---|---|
| Linde | LIN | The "Utility" of healthcare. Hospital oxygen supply chains are local monopolies with 20-year contracts. Inflation-proof pricing power. | WIDE | Too Expensive |
| Sectra AB | SECT B | Medical imaging (PACS). In practice, hospitals almost never rip out their imaging IT once installed. Infinite switching costs. | WIDE | Researching |
| Exor N.V. | EXO | The "Berkshire of Europe." Discounted entry to high-quality healthcare assets (Institut Mérieux, Philips) via the Agnelli family vehicle. | ALLOCATION | Discount to NAV |
Last Updated: Jan 2026. Data sourced from S&P Global & Company Filings.