Tresor News
Outside of regular personal appointments, we strive to provide our clients with information on a regular basis. One way we do this is by writing a weekly investment newsletter and a monthly report with information about the financial markets. In addition, we regularly write a Tresor Vision, in which we take a look at current topics. We also summarize the investment case of our investments in investment analyses that are provided to our clients.
Below you will see some examples of monthly messages and Tresor Visions displayed.
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Deep Dive Software and AI: Opportunity or Threat?
The rise of artificial intelligence (AI) dominates conversations in boardrooms and investor forums. The technological advances are undeniable and the..
A Conversation with Lifco’s CEO: The Essence of a Best-in-Class Serial Acquirer
While a large number of international investors gathered in Stockholm March 17-18 for the Redeye Serial Acquirer conference, one of..
Deep Dive: Chapters Group – More than just a German Constellation Software
Earlier this month, we traveled to Hamburg for Chapters Group’s annual Capital Markets Day and shareholder meeting. As Tresor Capital,..
Is Sweden The Wall Street of Europe?
At Tresor Capital, we have been following the Swedish market of family holding companies and serial acquirers with particular interest..
Tresor Capital Partner Michael Gielkens Participates in Young Investing Podcast
This week, Tresor Capital partner and co-owner Michael Gielkens was a guest on Milou Brand and Pim Verlaan’s Young Investing..
Deep Dive: Thinking in generations rather than quarters, the crucial role of management and ‘skin in the game’
In the world of investing, much attention is paid to balance sheets, income statements and macroeconomic trends. Essential, no doubt…
Introducing: Joep Dikken
“My name is Joep Dikken, I am 22 years old and born in Nijmegen. Since four years I have been..
Report Of Our Visit To Sofina’s Annual Meeting: “We Think In Decades”
A delegation from Tresor Capital attended Sofina’s shareholder meeting on May 8, held at the impressive building on Brussels’ rue..
Successful relationship dinner Tresor Capital
On May 14, 2025, Tresor Capital hosted a dinner for its associates at the extraordinary five-star La Butte aux Bois..
Interview Tresor Partner Michael Gielkens In Mister Market Magazine
An interview with holding specialist Michael Gielkens, partner at Tresor Capital, recently appeared in issue 263 of Mister Market Magazine…
TerraVest business analysis for VFB
Recently, issue 4 of 2025 in the Guide to the Best Investor of the Flemish Federation of Investors (VFB) published..
Video “Investing in Family Holding Companies and Serial Acquirers
Holdings specialist Michael Gielkens lectured on behalf of Tresor Capital, “Investing in Family Holding Companies and Serial Acquirers.”..
Business analysis serial acquirer Topicus.com
On Feb. 28, issue 3 of 2025 in the Guide to the Best Investor of the Flemish Federation of Investors..
Why Active Stock Selection Works – And How Tresor Capital Is Addressing It
The debate over active versus passive investing has raged for decades. Much academic research argues that most fund managers cannot..
Video ‘Beating the stock market with family holdings’
On Feb. 22, 2025, holding specialist Michael Gielkens gave an exclusive presentation on behalf of Tresor Capital at the VFB..
Change Is The Only Constant
“Change Is The Only Constant.” So said the Greek philosopher Heraclitus some 2,500 years ago……
The 10 holding lessons of Michael Gielkens
Recently, Michael Gielkens gave a lecture on holdings. He is a friendly man with tons of experience in the stock..
Retrospective 2024: Stock Market Recovery Continues
2024 marked another year of recovery, in which our strategies proved their worth. For our clients, the figure below will..
Turtle Creek: A Complementary Manager In Our Model Portfolio
Last week, Andrew Brenton, CEO and co-founder of Turtle Creek, held a monthly performance update of the Turtle Creek funds…..
Introducing: Michel Salden
“My name is Michel Salden. Born in Sittard. After studying economics and quantitative economics in Maastricht, I started as a..
Introducing: Jelle Vermeulen
My name is Jelle Vermeulen, I am 22 years old and a new member of the team at Tresor Capital…
Report From Successful Relationship Day 2024
On Oct. 2, we hosted our 2024 Relationship Day at the extraordinary five-star venue La Butte aux Bois in Lanaken,…..
Family Holding Companies Profit From Structural Megatrends
The companies in the Tresor Capital Family Holding Mandate are selected by a so-called bottom-up process……
The Importance Of Time In The Market (Instead Of Timing The Market)
At the beginning of this month, there was suddenly a very solid stock market correction……
Why Family Investment Holdings Belong In Every Portfolio
As an investment boutique, we seek to distinguish ourselves by offering unique investment opportunities for our clients…
Danaher, Built to withstand the test of time
Every once in a while a special piece of information about one of our companies appears……
Presentation On Serial Acquirers At The VFB Happening 2024
On March 23, 2024 holding specialist Michael Gielkens gave a presentation on serial acquirers on behalf of Tresor Capital at..
Company Visit: Sofina Excellently Positioned For Innovation And Further Growth
On May 8, we attended Sofina’s shareholder meeting with a delegation from Tresor Capital……
The market is too pessimistic about holdings
Holdings remain a very popular investment among VFB members. Therefore, we surveyed two specialists, Joren Van Aken (Degroof Petercam) and..
From Holdings To Serial Acquirers: Types of Investment Companies
We regularly write about family investment holding companies in our publications……
Long-term Focus Versus Everyday Headlines
Last month our mouths dropped open in amazement. After being active in the financial world for a while, you’re used..
Family Holdings Newsletter, 9 March 2024
We would like to inform you about current events surrounding the family investment holdings we have in our portfolio or..
Webinar: Ten SuperHoldings with Michael Gielkens
Michael Gielkens provided a webinar on February 27, 2024 on behalf of Tresor Capital on the YouTube channel of investor..
Warren Buffett: “Why Stocks Beat Bonds and Gold
In our conversations with clients, our newsletters and other communications, we often point out the importance of long-term…..
VFB Charlie Munger – Tresor Capital
Holdings specialist Michael Gielkens pays tribute to Charlie Munger, Warren Buffett’s right-hand man…..
Looking Back 2023, Looking Ahead 2024 And The Lindy Effect
Two of the fundamentals of our equity portfolio are our family holdings portfolio and the Turtle Creek Equity Fund……
Monthly Bulletin November 2023
In our weekly newsletter, we regularly highlight developments within our portfolio…..
Monthly Bulletin October 2023
We regularly receive feedback from our relations on our newsletters. This shows that our messages are well read, for which,..
Tresor Capital guest on podcast The Shareholder about holdings
Michael Gielkens was recently a guest on the podcast of The Shareholder on behalf of Tresor Capital. Together with presenter..
Constellation Software
Michael Gielkens comments on Constellation Software’s annual results in Canadian newspaper The Globe and Mail…
Report Successful Relationship Day Tresor Capital
On Oct. 11, we hosted our first relationship day at the special location Kasteel Vaeshartelt, located at the end of..
Monthly Bulletin August 2023
In June’s monthly report, we cited a memo from Howard Marks. Marks, as co-founder of Oaktree Capital, is a renowned..
Monthly Bulletin July 2023
For months, the financial press has been writing about the path the economy will take. Analysts and commentators tumble over..
Monthly Bulletin June 2023
How can you measure current investor sentiment? That’s the question Howard Marks asked in his new memo…..
Monthly Bulletin May 2023
Since November 2022, Artificial Intelligence (AI, artificial intelligence) has been a hot topic due to the launch of ChatGPT…..
MBB SE: German Mittelstand, the Energy Transition and Cybersecurity in one Holding
Our analysis of the company MBB SE appeared in the June 2023 edition of the Flemish Federation of Investors’ Guide..
Monthly Bulletin April 2023
Last weekend in Omaha, the annual “Woodstock of capitalism,” Berkshire Hathaway’s shareholder meeting once again took place……
Monthly Bulletin March 2023
In March, several positions surrendered some of their returns from the first quarter. April, however, resumed its momentum…..
Reliance Industries: Responding to India
The company Reliance Industries in the April 2023 Flemish Federation of Investors’ Guide to the Best Investor…..
Tresor Capital Visiting Family Holding Sofina
This week, colleague Rob Rutten and yours truly visited the shareholders’ meeting of Belgian family holding company Sofina (Brussels: SOF)..
Monthly Bulletin February 2023
After an optimistic start in January, financial markets have since taken quite a feather…..
Monthly Bulletin January 2023
Where 2022 was dominated by declining markets, 2023 got off to an optimistic start. Economists rapidly adjusted their estimates…..
LetUsCompound
The following interview was published on LetUsCompound’s website on December 16, 2022..
Monthly Bulletin December 2022
At the end of 2021, we as partners had a different presentation of the first calendar year..
Sofina: Unjustified high discount offers great buying opportunity
The following analysis on the company Sofina was published in the February 2023 Guide to the Best Investor of the..
Outlook 2023
Following our review of the past (stock market) year, we are pleased to share our vision for 2023…
Monthly Bulletin November 2022
Recently, I was approached for an interview by the website Let Us Compound…..
Monthly Bulletin October 2022
Attached please find the monthly report, in which we share our views on conditions in the financial markets…..
Monthly Bulletin September 2022
Attached please find the monthly report, in which we share our views on conditions in the financial markets…..
Monthly Bulletin August 2022
Attached please find the monthly report, in which we share our views on conditions in the financial markets…..
8x more profitability through a good corporate culture?
8x more profitability through a good corporate culture?..
Monthly Bulletin July 2022
Last month was marked by a clear recovery, after the prospects of a possible recession in the month of June…..
Monthly Bulletin June 2022
After the war in Ukraine and tightening central bank policies earlier this year,…..
How to invest in acquisition machines “Serial Acquirers
How to invest in takeover machines “Serial Acquirers”..
Company visit to Judges Scientific
In London, we visited Judges Scientific (London: JDG). This British investment holding company was founded by David Cicurel…
Tresor Capital Has ‘Skin In The Game’
Independent and distinctive: these are two stamps that can undoubtedly be placed on Tresor Capital…
Monthly Bulletin May 2022
Attached please find the monthly report, in which we share our views on conditions in the financial markets…
Outlook 2022
Due to turbulent movements in the financial markets, our plan to write a two-part series looking back at 2021 and..
