Bolingbroke Capital
Global, sub-$1bn value + UK activist stakes
We buy a concentrated portfolio of overlooked companies worth under $1bn, across the globe,
whilst pursuing activist stakes in the UK where we can be the catalyst that unlocks value.
CORE
Overlooked companies
Where we have an informational advantage
TILT
Sub-$1bn value + UK activist stakes
We fish where others do not and cannot
PATIENCE
Letting our compounders flourish
We do not "cut the flowers and water the weeds"
< 20
high-conviction positions
Same terms
the Founder pays the same management fee
Multi-year
intended holding periods
WE DO NOT HAVE:
- A Substack
- Sharpe ratios
- 100-point checklists
- Monthly commentary
- Regular podcast appearances
- A fee model built on asset-gathering
- A Noah’s Ark approach to portfolio construction
INSTEAD, WE:
- Shop where the value is
- Own what the index cannot
- Avoid leverage and short selling
- Measure risk as loss of capital, not market gyrations
- Focus more on finding good ideas than marketing them
- Kept Buffett’s 1962 fee structure that the industry quietly dropped
- Donate 1% of the firm’s profits to support underprivileged children
THE EDGE
Global businesses under the radar
We compete with < 0.1% of global capital
UK stakes where we are the catalyst
THE OPPORTUNITY
US small caps at a 90-year low
UK pensions have cut UK equities 90%
The UK has fallen to 3% of world markets
THE ALIGNMENT
The Founder pays the same fee
Buffett’s 1962 terms, higher hurdle
A management fee that shrinks as we grow
WHO WE ARE
Founder | Dr Aiden C. Patterson
Research | Over 10 years researching sub-$1bn companies
Academic | Taught corporate finance and M&A at the University of Durham
Operator | Built capital allocation software used by some of the world's largest companies
1% of the Investment Adviser’s profits go to the Rosemary E. Lake Foundation, which provides support for underprivileged children.
WHAT WE LOOK FOR
A one-page thesis
A catalyst we can name
Assets the market ignores
Owners who act like owners
HOW WE FIND IDEAS
25+ custom innovative screeners
Value Investors Club audit member
ValueX · MOI Global · Berkshire AGM
1,000+ stock one-pagers reviewed each year
WHEN WE SELL
The core thesis breaks
The margin of safety is gone
Capital earns more elsewhere
But never for position size alone