Tyler Crowe

Apologies for the bad pronunciation.

Either way, they both, whatever name you choose to say, the ticker is ASR,

This is one of the three companies in Mexico that has an operating license to operate airports in the country.

As the name suggests, most of the airports are in the Southeast.

It owns the operating license for Mexico's second most busy airport, which is Cancun.

larger operations in the country and is a little bit more touristy-focused because of the Southeast exposure.

But it is an incredibly lucrative industry, one that people don't think of very much because it's basically like they get a

It's almost like a regulated utility in the sense where their profits are capped and they have these set fees for everything they do.

But they basically have a regional monopoly wherever they work because it's an airport.

You don't get a lot of competition when it comes to airports.

It's been an extremely lucrative business for more than 25 years.

They basically are allowed to raise rates as they put in new capital plans, very similar to regulated utilities we see in the United States.

Basically, anything that involves higher traffic, so higher tourism, things like that, it's been a very good time in the Southeast area of Mexico, at least with operations in the airports.

It's a company right now, its stock trades about 15X earnings.

It has an irregular dividend.

It's past 12 months, it paid an 11% dividend.

I wouldn't expect that to

happen again in 2026, but still, it tends to pay rather lucrative dividends over time.

A solid long-term business trading at a pretty cheap valuation and one that has a propensity to throw off cash is something that I really like to own.

That is what I can give you for that one.