Annual and interim letters, investment memos and portfolio commentary, shared in full with a small group of registered investors who have an existing relationship with iolite.
Complete annual and interim investor letters
Portfolio updates and position commentary
Investment memos and thesis notes
Direct replies from Robert
A glimpse from recent letters
Annual 2025: antifragility, the “SaaSpocalypse,” and the case for backing aligned owner operators.
Interim 2024: courage and nonconformity, and why dogmatic systems let people outsource accountability.
Annual 2023: from the Nifty Fifty to the Magnificent Seven, and how passive concentration misprices great businesses.
Access is by invitation or application only. iolite does not engage in general solicitation. Materials shared here do not constitute an offer or solicitation for the sale of any security.
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