BBB Foods: A Proven Discount Grocery Model With Ample Runway Ahead (Ticker: TBBB)

Combining the philosophies of Costco, Aldi, and Dollar Genera to fit the Mexican market

The next three weeks at Emerging Moats: Remitly Global (quarterly update), Nintendo (quarterly update), and the Real Brokerage (quarterly update).

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Just over 20% of my portfolio is invested in Latin American stocks. This is not a deliberate goal for the Emerging Moats portfolio, but a residual effect of an aim to maximize returns over rolling three-year periods without risking ruin.

Right now, I struggle to find US stocks worth owning, which is why the portfolio is populated with companies from Japan, Korea, Europe, and Latin America. In fact, I have probably made more money shorting US stocks in 2026 than I have from owning them (don’t tell Elon). Diversifying your attack methods can help find investable assets at all times, giving one an advantage compared to the majority of people who only know US large caps/blue chips/tech/AI, or however you want to define it.

A major league pitcher with the best sinking fastball in the world and no other pitches is going to struggle vs. a hitter that crushes low and inside, like Aaron Judge, no matter how good that one single pitch is.

I want to build a large repository of high-quality businesses that can be rotated into my portfolio at any one time, depending on where the valuation winds are blowing.

Right now, they are blowing away from the United States market.

Another stock in Latin America has piqued my interest, and it is the subject of today’s research report: BBB Foods. The discount grocer in Mexico has been recommended by readers, covered by other analysts I respect, such as recurring Chit Chat Stocks guest Leandro from Best Anchor Stocks, and has super investor Stan Druckenmiller as a large shareholder.

In this introductory research report, paying subscribers will learn:

• TBBB’s unique founding story

• How the discount grocery model works

• Growth runway in Mexico, and beyond

• Is there an emerging moat?

• Valuation model

• My investment decision

• Portfolio update + Grupo OMAB earnings

TBBB’s unique founding story