Invest
We invest in flywheel businesses in the tradition of Munger, Buffett, and Pabrai — concentrating in our best ideas, paying sensible prices, and holding through the cycle while compounding does its work.
The approach
We own a focused set of businesses that share three traits: advantages that strengthen with scale, accelerating free cash flow, and managers who think like owners. We would rather hold a dozen exceptional companies for a decade than rent a hundred for a quarter.
Each position below links to our research note — the analysis behind why we own it and where it sits in its flywheel. These notes record our reasoning so that, years from now, we can hold ourselves accountable to it.
The portfolio
Every position carries a written thesis and a recommendation. Select any company to read the full note.
| Company | Thesis | View | |
|---|---|---|---|
AMZN Amazon.com, Inc. |
The original flywheel — retail scale and AWS cash flow compounding into adjacent markets. | Core | Read note → |
NOW ServiceNow, Inc. |
A workflow platform with rising switching costs and a widening surface area across the enterprise. | Buy | Read note → |
BRK.B Berkshire Hathaway Inc. |
A compounding holding company and a study in temperament — the discipline we aspire to. | Core | Read note → |
ADBE Adobe Inc. |
A world-class software franchise at a generational discount — PEG 0.75, AI-first ARR inflecting; accumulate on the post-earnings washout. | Conditional Buy | Read note → |
META Meta Platforms, Inc. |
Network effects at civilisational scale, monetised by an AI-driven advertising flywheel. | Buy | Read note → |
RIGL Rigel Pharmaceuticals, Inc. |
A small-cap biopharma turning approved drugs into recurring revenue — an asymmetric special situation. | Speculative | Read note → |
NET Cloudflare, Inc. |
A global edge network compounding into a developer platform with strong economies of scale. | Accumulate | Read note → |
SHOP Shopify Inc. |
The arms dealer of independent commerce — a merchant platform compounding with its customers. | Buy | Read note → |
CPNG Coupang, Inc. |
Korea's Amazon — a logistics-driven retail flywheel reaching scale and profitability. | Accumulate | Read note → |
MELI MercadoLibre, Inc. |
Latin America's commerce-and-fintech flywheel — two compounding loops reinforcing each other. | Buy | Read note → |
CRDO Credo Technology Group |
High-speed connectivity for the AI data centre — a picks-and-shovels bet on compute growth. | Watch | Read note → |
NVDA NVIDIA Corporation |
The computing platform of the AI era — hardware and software locked together by an ecosystem moat. | Buy | Read note → |
AMPG AmpliTech Group, Inc. |
A micro-cap RF and 5G components maker — early, illiquid, and sized as a small option. | Speculative | Read note → |
Holdings shown reflect Flywyl's portfolio as of May 2026 and are subject to change without notice. This page is for informational purposes only and is not investment advice or a recommendation to buy or sell any security. All investments carry risk of loss.