IIFocus areas
Four areas, each held for the long term. Together they are the systems that ordinary life depends on and that ordinary people seldom notice.
Vehicles, stations and the ground systems that serve them. The sky is a market like any other, and it should be owned by people who understand it.
We hold positions along the whole path to orbit, from the pad to the station and back. Access to space is still scarce. We expect it to stay that way for longer than most people assume, and we are comfortable with that.
Generation and storage at the scale a new century requires. We invest early, and we invest patiently.
Whoever controls the supply of energy sets the terms for everything that runs on it. We prefer to set the terms.
The quiet assets underneath everything else. Ports, lines and land that will matter long after the headlines move on.
We are particularly patient in the high north, where new routes are opening and very few owners are prepared to wait for them.
Materials, computation and the instruments that see further than we can. Discovery is often shared. Ownership need not be.
We fund a small number of laboratories for a long time, and we keep what they find close.
Holdings
We do not publish a list of holdings. Most of them prefer it that way, and so do we.