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  5. CLS: NBIS, VRT, MDA, CLS, GLXY, HPS. [Celestica Inc.]
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Investment Q&A

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Q: NBIS, VRT, MDA, CLS, GLXY, HPS.A, VNP, PNG. There are so many promising small & mid-cap companies involved in AI, defense, infrastructure. From this group of 8 can you tell me if there is over-lap that I should consider reducing? Thank you. Take as many credits as you need.

Mike
Asked by Michael on November 10, 2025
5i Research Answer:

The biggest overlap would be between NBIS and VRT, with CLS overlapping both to a smaller degree. We like all three, but think NBIS can be owned over VRT. We would keep CLS. We would see minimal overal in the others. 

Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in NBIS.