Research Hub: The Atomic Portfolio and Watchlists
Welcome to the research hub.
On this page, you can see my current portfolio and investing universe.
I have different watchlists for every need: founder-led small caps, mission-critical monopolies, 100-bagger watchlist, Nordic companies, and more. You can see them below.
My strategy is straightforward: identify a small number of exceptional businesses with structural competitive advantages, buy them at rational prices, and hold them for long enough that compounding does the work. The edge is patience, not cleverness.
I view holdings as fractional ownership in real businesses. The way a private buyer views an acquisition. The correct valuation anchor is what a rational owner of the entire business would pay, not what a momentum trader bid for the shares last Tuesday. That single reframe eliminates most of the noise that passes for investment analysis.
The Philosophy
The foundational principle comes from Charlie Munger’s correction of Graham: stop buying fair businesses at wonderful prices, and start buying wonderful businesses at fair prices. A cheap business with poor economics gives you one last puff. A franchise with a genuine structural moat compounds for decades.
The goal is 20%+ annualised returns over a ten-year horizon. Yup, not lottery-ticket outcomes, but the steady, boring compounding that comes from owning genuinely excellent businesses and having the temperament to hold them when the market disagrees.
In the words of Terry Smith:
Buy good companies. Don’t overpay. Do nothing.
Concentration Strategy
I do not believe in diworsification. Spreading capital thinly across many positions reduces risk on paper and guarantees mediocrity in practice.
Munger: “There is less risk in owning three easy-to-identify wonderful businesses than in owning 50 well-known big businesses.”
The portfolio and watchlists
Here you can access my current holdings and my different watchlists, constructed over years, with fat pitch targets, moat descriptions and much more.