Family Holding Companies
Family Holdings #15 - MBB's Record Figures Leave Us Wanting More
Michael Gielkens
I am Michael Gielkens, partner and co-owner of Tresor Capital. Investing has been my great passion for years: from analyzing holdings and serial acquirers to building long-term strategies. What was once a hobby is now my job.
Deep Dives
Deep Dive - Thinking in Generations with Sofina at the Tresor Capital Investor Day, April 2026
On Wednesday, April 1, 2026, we were delighted to welcome no fewer than 135 business partners to our client appreciation day—yet another record. We are thrilled that so many customers made the long journey to Maastricht from Amsterdam, Bruges, or Knokke to attend this event. This time, we were not in Lanaken,
Deep Dives
Deep Dive - Constellation Software is focusing on AI integration
A report on our one-on-one interview with CFO Jamal Baksh about the latest financial results, the company’s AI strategy, and the recent major acquisition.
Deep Dives
Deep Dive - Meeting with Chapters' management bolsters confidence in AI resilience
An analysis of Chapters Group's financial figures and strategy following our meeting with management
Deep Dives
Deep Dive - Buffett's successor Greg Abel shows immediate skin in the game
Investment holding company Berkshire Hathaway is entering a new era as Warren Buffett hands over the reins to Greg Abel. Despite weak quarterly figures, the core remains intact: a strong balance sheet, strict capital allocation, and a long-term focus.
Family Holding Companies
Family Holdings #9 - Navigating a nervous market with a long-term focus
Family Holding Companies
Family Holdings #8 - The purchases and sales of the holdings
Deep Dives
Deep Dive - Software and private equity under the spell of Artificial Intelligence
The narrative that AI will fundamentally disrupt existing business models has led to significant price movements in a short period of time. Whereas we could previously speak of healthy caution with regard to technological disruption, we have now entered a phase of total irrationality.
Family Holding Companies
Family Holdings #7 - Record growth meets growing concerns
Family Holding Companies
Family Holdings #6 - The divergent lessons in capital allocation from Google and Markel
Deep Dives
Deep Dive - AI versus VMS: investors throwing the baby out with the bathwater
The market seems to have already passed its verdict, with artificial intelligence (AI) dealing the death blow to niche software. However, we believe that this fear is greatly exaggerated.
Family Holding Companies
Family Holdings #5 - Holdings benefit from secular megatrends