C
Costco Wholesale
COSTA membership model that aligns incentives with shoppers — thin margins on goods, recurring revenue on memberships.
Large Cap high conviction
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3 companies
U
UnitedHealth Group
UNHDiversified healthcare — insurance scale plus a fast-growing services arm (Optum) that monetizes the system's complexity.
Large Cap medium conviction
A
Apple Inc.
AAPLA hardware-and-services flywheel with one of the stickiest consumer ecosystems ever built.
Large Cap high conviction