Deep Dives

Deep Dive – Constellation and Topicus: AI panic remains invisible in the numbers

The acquisition machines Constellation Software (Toronto: CSU) and Topicus.com (Toronto: TOI) recently published their results for the second quarter of 2026. Constellation elaborated on the results a day later during a conference call. Reason enough this week to dive deeper into the figures and the capital allocation of both serial acquirers.

This article was translated automatically from Dutch using AI. In case of any difference, the Dutch original prevails. Read the original in Dutch.

Michael Gielkens · Tresor Capital

I'm Michael Gielkens, partner and co-owner of Tresor Capital. Investing has been my great passion for years: from analysing holding companies and serial acquirers to building long-term strategies. What was once a hobby is now my job. More from Michael Gielkens

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Deep Dive: Topicus changes CEO, not approach

The investment holding company Topicus.com (Toronto: TOI) will get a new CEO as of 1 October. Robin van Poelje is stepping down for personal reasons and will remain chairman of the supervisory board. Ramon Zanders, currently CEO of subsidiary TSS Blue, will succeed him. We spoke this week with

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Family Holdings #39 - Cost Price Revolution: the opportunities and the impact

Family Holdings #38 - Brookfield's New Targets

Economy & Markets #38 - Oil crisis and AI concerns hit the market, while the Fed raises rates

Deep Dive: Topicus changes CEO, not approach