OUR PORTFOLIO

as of December 2021

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3M (NYSE:MMM)

ISIN : US88579Y1010 — NYSE

is an American multinational conglomerate corporation operating in the fields of industry, worker safety, U.S. health care, and consumer goods.The company produces over 60,000 products under several brands,including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electrical and electronic connecting and insulating materials, medical products, car-care products,electronic circuits, healthcare software and optical films.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

133.10

185-190 USD

15.2

3.81%

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BASF (XTRA:BASFn.DE)

ISIN : DE000BASF111 — BASF SE

BASF SE is a German chemical company and the largest chemical producer in the world. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas and Africa.Its headquarters is located in Ludwigshafen, Germany. BASF has customers in over 190 countries and supplies products to a wide variety of industries.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

54.65 EUR

>100 EUR

>17

4.58%

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Danone (Euronext:BN)

FR0000120644 — DANONE

Danone is a French based leading global food & beverage company built on four businesses: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition and Medical Nutrition.

In 2020 Global Brands Danone ranked 62nd.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

51.98 EUR

>70 EUR

14.89

2.8%

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Iberdrola (MSE:IBE)

ES0144580Y14 — IBERDROLA

Iberdrola has a workforce of around 34,000 employees serving around 31.67 million customers. Subsidiaries include Scottish Power (United Kingdom) and a significant part of Avangrid (United States), amongst others.

 

Iberdrola, is the second biggest producer of wind power by revenue and market capitalisation. It is the world's third electricity utility by market capitalisation.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

10.75 EUR

>17 EUR

16.2

3.38%

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Mercedes Benz (XTRA:MBG)

DE0007100000 — MERCEDES BENZ GROUP AG

Based in Stuttgart, Germany, Daimler makers Mercedes-Benz and Smart cars, commercial trucks and vans, and buses. Brands include Mercedes-Benz, Freightliner, Western Star, Fuso, Setra, and Orion.

In 2020 Global Brands Daimler ranked 8th with Mercedes brand.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

53.13 EUR

69-80 EUR

>17

5.96%

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RED ELECTRICA DE ESPANA (IBEX:REE)

ISIN : ES0173093024 - IBEX (Madrid)

Red Electrica de Espana is a partly state-owned and public limited Spanish corporation which operates the national electricity grid in Spain, where it operates the national power transmission system. It also holds assets in Peru, Chile and Brazil.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

17.58 EUR

19 EUR

14.44

4.61%

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RIO TINTO (NYSE:RIO.N)

ISIN : US7672041008 — NYSE

Rio Tinto is a mining and metals company operating in 35 countries around the world produce the materials essential to human progress. Rio Tinto produces mainly Aluminium, Copper, Minerals and Iron Ore.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

67.75 EUR

>150 EUR

<13

13.05%

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Telefonica (NYSE:TEF.N)

US8793822086 — TELEFÓNICA S.A. ADR

Telefonica is the incumbent fixed-line and wireless telephone operator in Spain. It has the second-most wireless subscribers in the United Kingdom, and with the acquisition of E-Plus, it is the largest wireless operator in Germany. It has substantial fixed-line and wireless assets in Latin America, including being the largest telecom operator in Brazil, where 65% of its customers reside. Find more information here

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

5.10 USD

14-16 USD

>17

5.00%

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Unilever (Euronext:UNA)

ISIN GB00B10RZP78 — Unilever PLC

Unilever plc is a British multinational consumer goods company with 2.5 billion people using their products each day. Unilever is present in 190 countries and 400+ brands are used by consumers worldwide.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

44.64 EUR

>60 USD

>18

3.25%

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Vanity Fair Corporation (NYSE:VFC)

CUSIP US9182041080 — VF Corporation

VF Corporation (formerly Vanity Fair Mills until 1969) is an American global apparel and footwear company founded in 1899. The company's 13 brands are organized into three categories: Outdoor, Active and Work. VFC controls 55% of the U.S. backpack market with the JanSport, Eastpak, Timberland, and North Face brands.

In 2020 Global Brands Kellogg company ranked 66th.

Weighted purchase price

Estimated intrinsic value

Price to earnings at purchase

Dividend yield after-tax

46.04 USD

60-80 USD

9.77

3.69%