Modelio Equity

February has been an active month in our portfolio with most of our companies reporting year-end reports. We have done several changes to our portfolio, and our top 5 largest holdings are the following:

We would not be surprised to see a couple of acquisitions within the struggling B2C segment in the coming 12 months. So, when the crisis blows past, AOJ will have strengthened its B2C offering compared to its peers – again, building for the longer term.

We focus on the longer term. When markets improve and return to normal levels (which they will), AOJ will be in a pole position to capture the demand as that has continued to build the company for the long term.

One change within our top 5 holdings. Per today, our top 5 listed holdings are the following:

That was all for this time. We look forward to the earnings season starting in a couple of weeks, until then we want to wish you a happy Easter.

Modelio believes that Empir's valuation still implies significant upside potential in the form of an uplift in mySafety's valuation and is a long-term shareholder in the company.

Although March proved to be a relatively uneventful month for our portfolio, with only a few significant changes amongst our holdings, we are delighted to announce the addition of a new holding to our top 5 holdings. Per March 31st, our top 5 listed holdings are the following: