Long-form write-ups on select portfolio holdings. These notes explain the business, the thesis, the risks, and what has to go right. Intended for accredited investors.
Sanara is a potential multi-bagger — a surgical and advanced wound-care company growing rapidly with a widening moat in chronic wound management. Our work here centers on the quality of management's capital allocation and governance.
Rapid Micro automates microbial contamination testing for pharma manufacturers — a slow, manual process where adoption compounds as customers install more instruments per site. Improving unit economics and a lengthening installed base underpin the thesis.
Between quarterly letters we publish new theses, follow-ups on holdings, and shorter commentary on Substack. Free, low-volume, and the easiest way to keep up with our research.
Our commentary archive contains dozens of earlier ad-hoc theses — including pieces on Snyder's-Lance, Silver Spring Networks, Envision Healthcare, Integrated Device Technology, Amazon, and Chipotle — and post-mortems on positions that were subsequently acquired.
Browse the full archive →We share our complete thesis library with investors we work with. Request a conversation and, if there's a fit, we'll walk you through the portfolio.
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