Tesla

Tesla continues to extend its footprint in the automotive sector from its Austin headquarters. The company's resilience, supported by 141k employees and an annual revenue near $97B, makes it a structural reference for investors and partners across North America.

The group's regional balance sheet allows it to invest counter-cyclically, an advantage few competitors can match in the current rate environment.

“Tesla is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

Few catalysts on the horizon look bearish; the central scenario is a continued, controlled compounding story.