ALS
Altius Minerals
Royalties and project generation.
Open company page →“Invert, always invert.”
Business fundamentals, explained
Understand the business
behind the ticker.
How does it make money? Where does the cash go? What could go wrong? Explore the workings of companies, then follow the evidence in their financial history.
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Companies & funds.
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BRK
Berkshire Hathaway
Insurance, operating businesses and capital allocation.
Open company page →PS
Pershing Square
The investment manager and its clients.
Open company page →PSH
Pershing Square Holdings
Closed-ended fund ownership.
Open company page →PSUS
Pershing Square USA
The US closed-ended fund.
Open company page →ASML
ASML
Lithography systems and installed-base services.
Open company page →ATCO A / ATCO B
Atlas Copco
Industrial equipment, service and specialty rental.
Open company page →BAM
Brookfield Asset Management
Managing capital across investment strategies.
Open company page →BABA
Alibaba
Commerce, cloud and ownership interests.
Open company page →NFLX
Netflix
Streaming memberships, content and advertising.
Open company page →META
Meta Platforms
Social apps, advertising and Reality Labs.
Open company page →AAPL
Apple
Devices and services.
Open company page →GOOGL / GOOG
Alphabet
Search, YouTube, Cloud and AI infrastructure.
Open company page →MEX
Tortilla Mexican Grill
Owned and franchised restaurants.
Open company page →EVO
Evolution
Games supplied to casino operators.
Open company page →VAL / RIG
Valaris / Transocean
Offshore contract drilling.
Open company page →GAW
Games Workshop
Miniatures, stories and licensed intellectual property.
Open company page →SpaceX
SpaceX
Launch services and satellite connectivity.
Open company page →Our approach
Context before
conclusions.
Business Fundies is an educational project by Alfie McCullen. It brings business explanations, historical financial information and source references together in one place.
The aim is to make the numbers easier to understand. Coverage is a collection of businesses to study, not a recommended portfolio.
Know what the metric means
Revenue, earnings and cash flow answer different questions. Definitions, units and reporting periods belong beside the figures.
Keep the source in reach
Use the linked company disclosures to check the explanation. Unavailable information is a gap, not a zero.
Make corrections visible
Signed-in readers can report bugs and missing or incorrect information. Reports go through an evidence review before corrections are published.
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