Investment Philosophy
Investment Philosophy
Disciplined, conviction-based global investing through the TVGP Framework.
How We Think
We are active, conviction-based investors. We look for mispriced businesses around the world — companies where the market has not yet recognised the true value of a structural tailwind, a management transformation, or an earnings inflection.
When we find that gap between price and value, we act. And when that gap closes — whether in weeks, months, or years — we exit. We are not married to our positions. We are married to our process.
“We are not married to our positions. We are married to our process.”
If a stock we buy at $50 reaches our estimate of fair value at $120 within three weeks because of a catalyst, we take the profit. If a position moves against us and the thesis breaks down, we cut it. If it moves against us but our conviction in the underlying thesis strengthens, we hold or add. Every decision is re-evaluated against the TVGP framework in real time.
Our approach is country agnostic. The TVGP framework doesn't care where a company is headquartered — it evaluates the quality of the opportunity on its own merits. If the most mispriced semiconductor company is in the Netherlands, we go there. If the best asymmetric setup is in Japan, we go there. We follow conviction, not geography.
The TVGP Framework
Our proprietary lens for identifying global compounders.
Theme
We start by identifying powerful structural megatrends — shifts in technology, demographics, regulation, or consumer behaviour that create multi-year tailwinds. We look for companies that are not just participating in these trends, but are essential infrastructure for them. The theme must be durable, not cyclical.
Value
A great business at the wrong price is a poor investment. We evaluate intrinsic value using multiple frameworks — discounted cash flow analysis, relative valuation against global peers, and assessment of the margin of safety. We buy when we see a clear gap between price and value, and we sell when that gap closes.
Growth
We seek companies with demonstrated revenue and earnings growth, driven by sustainable competitive advantages — not financial engineering. Growth must be organic, repeatable, and supported by expanding addressable markets and strong unit economics.
Promoter
The quality of management is the single most important determinant of long-term returns. We evaluate capital allocation track records, alignment with minority shareholders, corporate governance standards, and management's ability to execute through cycles.
In chess, every piece has a role, every move has a purpose, and knowing when to strike is just as important as knowing where to look.
Portfolio Construction
SOIC Global maintains a concentrated portfolio of 15-25 positions across global markets. We size positions based on conviction level and the asymmetry of the opportunity — the wider the gap between current price and our estimate of intrinsic value, the larger the position.
We are not passive holders. The portfolio is actively managed with clear entry and exit discipline. We define our thesis and target valuation before entering any position. When the thesis plays out — whether in three weeks or three years — we exit and redeploy capital into the next best opportunity. If a thesis breaks down, we cut the position regardless of the loss. Ego has no place in our process.
The portfolio is country agnostic with no predetermined geographic or sectoral allocation. Capital flows wherever the TVGP framework identifies the most compelling asymmetric opportunities.