Investing for the long term
in high-quality companies
WHAT
WE DO
Based in Palma de Mallorca, IBENCO invests in what we consider to be high-quality publicly listed companies.
We hold a concentrated portfolio of dominant, predictable and well-run businesses that can reinvest capital at attractive rates of return.
We take a long-term, bottom-up approach as we believe that the fundamental performance of a business determines its shareholder returns over time.
We have very little portfolio turnover and aim to hold a position for many years unless there is a meaningful change in our thesis.
We believe that the fundamental performance of a business determines its shareholder returns over time
We look for high-quality businesses that we can buy at attractive valuations and hold for many years. These companies have sustainable competitive advantages and can deploy capital back into the business at high rates of return.
We look for management that acts with integrity, are great capital allocators and understand the fundamental drivers of long-term shareholder value. Often, but not always, this results in us investing in family-controlled or founder-controlled businesses.
We distinguish between the movement of a share price and the fundamental performance of a business. Other than offering us buying opportunities, we are not concerned with the short term price movements in the market.
HOW WE
INVEST
We look for high-quality businesses that we can buy and hold for many years
SOME OF OUR HOLDINGS
