Research & Letters
Every quarter, in writing.
Our public letters, industry deep dives and case studies — including the years that didn't go our way.
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Q3 2026 Investor Letter
Portfolio review, positioning and outlook for the third quarter of 2026.
Kraken Robotics: how we found a ~6x in subsea defense tech
The subsea battery niche, the AUV relationships that anchored the growth thesis, and what we learned along the way.
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Industry deep dives
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