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Pacific Smiles Group(PSQ.ASX) is an Australian based dental practice operating 127 centers and employing 850 dentists as of August 2022. Pacific Smiles is consolidating the Australian dental market as the market is quite fragmented. The growth runway for the company is large as the company only has a 3% market share. Pacific Smiles had a bad fiscal year 2022 due to covid shutdowns in Australia and the stock price reflects that. The Group was run really well in the past and I expect a recovery and continued growth going forward.

Summary of my positions as of 09/01/22. Also with additions and subtractions since the last update in July.

Airtel Africa is a telecommunication and fintech company based in Africa. Airtel Africa operates 14 mobile networks in Africa, with Nigeria being their largest market. Airtel also operates the Airtel Money platform, which provides online mobile payment and banking services to 26.2M users. Africa is a continent with immense opportunity. Both business segments that Airtel Africa operates in are benefiting from large tailwinds such as increasing mobile penetration, data usage, and mobile banking use. All three areas are lagging behind other emerging markets like Asia and Latin America, and so have a lot of “catch up” opportunities. This gives Airtel a long growth runway, not to mention Airtel is trading at under 12 times FCF with a rising ROIC of over 20%.

Capri Holdings (NYSE:CPRI) is a luxury goods retailer and owns the brands Michael Kors, Versace, and Jimmy Choo. The luxury goods market is a growing market that is also recession-resistant which is an especially desirable attribute given the current climate. Capri Holdings is in the midst of organic growth and margin expansion set forth by management which is not being priced in.

A summary of my positions as of 7/10/22