One asset class. A handful of convictions. Nothing else.
Where the Capital Lives
We hold public equities. Only public equities. No leverage, no derivatives, no exposure we cannot explain in a single sentence. Concentration is not a risk we tolerate — it is a discipline we choose.
Selected Themes
Compounding Machines
Businesses that reinvest at high returns, decade after decade. We buy them rarely and sell them more rarely still.
Mispriced Simplicity
Companies the market finds boring. Boredom, priced correctly, is a gift.
Patient Capital
Positions sized to be held through drawdowns, not traded around them. Time is the only edge that does not decay.
Holdings are not disclosed publicly. Allocation details are shared with qualified investors upon request.