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Here's why I like CBL CORP FPO NZX (ASX:CBL), XERO FPO NZX (ASX:XRO), Vocus Group Ltd (ASX:VOC).

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Recently I've been thinking about concentrating my portfolio a little further, as the number of companies I own (19) makes it hard to keep fully up to date across all their industries and competition.

If I had to run a more consolidated portfolio, it would look something like this:

CBL CORP FPO NZX (ASX: CBL)

CBL Insurance is a specialty insurer with global operations, although it writes most of its business in France. I think the company is well managed, with experienced and well-aligned executives, and it has significant room to expand into new markets and new products.

XERO FPO NZX (ASX: XRO)

Accounting software company Xero has significant growth potential as it expands in the UK and USA, and simultaneously benefits from the migration from desktop to cloud-based software systems. There is also largely untapped potential for the company to create new products to sell to its loyal customer base. Like CBL, Xero has well aligned management, and I feel that the company is roughly fairly valued today.

Vocus Group Ltd (ASX: VOC)

Vocus Group is a possible turnaround opportunity, as the company considers divesting assets to lower its debt burden and focus on its core NBN business. Vocus has recently been growing market share at the expense of competitors, and if the company can improve its systems and performance further, it could be a respectable performer over the next few years.

Nearmap Ltd (ASX: NEA)

Nearmap is an unprofitable aerial mapping company that has been growing rapidly in Australia and the USA recently. It is a highly scalable business with wide gross profit margins, and if it can claim a significant market share in the USA, it should be worth more than today's share price.

Flight Centre Travel Group Ltd (ASX: FLT)

Last but not least, Flight Centre is the well-known travel agent and holiday provider. The company has been a respectable performer over the past decade, especially in light of fierce and growing competition from online. Flight Centre's point of differentiation is its large agent network and the system of clever incentives it uses to lift performance. With a number of plans for growing the company further, including managed tours and vertical integration, Flight Centre could be a respectable performer over the long term.

Motley Fool contributor Sean O'Neill owns shares of CBL Limited, Flight Centre Travel Group Limited, Nearmap Ltd., Vocus Communications Limited, and Xero. The Motley Fool Australia owns shares of Flight Centre Travel Group Limited, Nearmap Ltd., Vocus Communications Limited, and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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