SaltLight Worldwide Flexible Fund – Investor Letter 3Q23

In the dramatic theatre of business, relentless motion and constant change make an exhilarating narrative. At SaltLight, we approach investing as a serene nature documentary filled with patience and thoughtful observation. In our view, frequent portfolio reshuffling is not a badge of honour, but rather restlessness. Each portfolio adjustment is a step into murky water, exchanging the known for the unknown, and as such, we set a high threshold for action.

SaltLight SNN Worldwide Flexible Fund – Investor Letter 2Q23

Instead of melodies and rhythms, our composition unfolds on a different stage. We see ourselves as treasure hunters, sifting through a vast terrain, discovering hidden opportunities, and appraising their potential for reward. Over time, as we collect these coarse rocks, we observe, adjust, and refine our approach