Our Assets
At Azvalor we invest in real assets, not in stock tickers. We invest in quality companies with good businesses and sustainable competitive advantages, led by capable and honest management teams that have shareholders’ best interests at heart, and whose intrinsic value is not reflected in their stock price.
Our vocation and obligation is to seek and, where appropriate, find and take advantage of the short-term inefficiencies between price and value offered by organized (stock) markets in order to try to maximize the returns of our long-term investments, minimizing as far as possible permanent losses.
When we invest, we strive to do it rationally, without letting our emotions take over, and we do so by applying the Value Investing philosophy, where time is on our side and patience is a key factor.
You, as co-investor of Azvalor, like us, own a percentage of companies with real assets and solid fundaments, among others…
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(Data as of April 30, 2023)


J D Wetherspoon
Reference shareholder: Tim Martin
Market capitalization: More than 1.1 billion €
Date of incorporation: 1979

About J D Wetherspoon


JCDecaux
Reference shareholder: Familia Decaux
Market capitalization: More than 4.05 billion €
Date of incorporation: 1964

About JCDecaux


Colruyt
Reference shareholder: Familia Colruyt
Market capitalization: More than 4.07 billion €
Date of incorporation: 1925

About Colruyt


Catalana Occidente Group
Reference shareholder: Familia Serra
Market capitalization: More than 3.4 billion €
Date of incorporation: 1864

About Catalana Occidente


Barrick Gold Corporation
Reference shareholder: Mark Bristow (Chairman and CEO) – Peter Munk (founder)
Market capitalization: More than 30.7 billion €
Date of incorporation: 1983

About Barrick Gold Corporation


Logista
Reference shareholder: Imperial Brands
Market capitalization: More than 3.1 billion €
Date of incorporation: 1999



Eurocash
Reference shareholder: Luis Amaral (also, company CEO)
Market capitalization: More than 600 million €
Date of incorporation: 1993

About Eurocash


Meliá
Reference shareholder: Escarrer Family
Market capitalization: More than 1.2 billion €
Date of incorporation: 1956



National Oilwell Varco
Reference shareholder: Institutional investors (owners)
Market capitalization: More than 5.4 billion €
Date of incorporation: 2005

About National Oilwell Varco


Suzano Papel e Celulose
Reference shareholder: Feffer brothers (founding family)
Market capitalization: More than 50.4 billion €
Date of incorporation: 1924

About Suzano Papel e Celulose


Galp
Reference shareholder: Amorim family
Market capitalization: More than 7.9 billion €
Date of incorporation: 2006

About Galp


Pan American Silver Corp.
Reference shareholder: Ross Beaty (founder)
Market capitalization: More than 5.6 billion €
Date of incorporation: 1994

About Pan American Silver Corp.


Elecnor
Reference shareholder: Cantiles XXI, S.L (founding families)
Market capitalization: More than 1 billion €
Date of incorporation: 1958
