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alex beering

T2 · manager / operator
2 calls·2 names·50% bull·last heard 6 months ago·Invest Like The Best
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$HUNTER-DOUGLASHunter Douglasposition

3G acquired window covering leader Hunter Douglas for its scaled manufacturing, direct-to-consumer distribution, and energy-saving tailwinds

Hunter Douglas owns the customer relationship with no concentrated suppliers or buyers, has $70B TAM, #1 market position, custom made-to-measure products with billions of permutations, 100-year history, and benefits from climate-driven energy efficiency demand.

Invest Like The Best2026-02→
2ndmedium conviction
$KHCKraft Heinz

3G's Kraft Heinz investment underperformed due to underestimating private label disruption and retailer concentration risk

The Heinz portion returned 3x but Kraft's commoditized portfolio was overly exposed to private label share gains from powerful retailers (Walmart, Costco, Amazon); historical financials didn't reveal this disintermediation risk, teaching 3G to avoid customer concentration and better assess disruption.

Invest Like The Best2026-02→

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2 total
$KHC
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Kraft Heinz
MEDalex beering·Invest Like The Best·6 months ago
3G's Kraft Heinz investment underperformed due to underestimating private label disruption and retailer concentration risk
The Heinz portion returned 3x but Kraft's commoditized portfolio was overly exposed to private label share gains from powerful retailers (Walmart, Costco, Amazon); historical financials didn't reveal this disintermediation risk, teaching 3G to avoid customer concentration and better assess disruption.
"The lesson for us there is basically I don't know that we underwrote the quality of the business well meaning there were significant portions of the craft portfolio which were rel…"
62:07
$HUNTER-DOUGLAS
Hunter Douglas
HIGHalex beering·Invest Like The Best·6 months ago· position
3G acquired window covering leader Hunter Douglas for its scaled manufacturing, direct-to-consumer distribution, and energy-saving tailwinds
Hunter Douglas owns the customer relationship with no concentrated suppliers or buyers, has $70B TAM, #1 market position, custom made-to-measure products with billions of permutations, 100-year history, and benefits from climate-driven energy efficiency demand.
"The business basically owns the relationships. It doesn't have a concentrated customer or a concentrated supplier. So it's a business that's really well positioned in an industry…"
14:38