Topsky Capital
Independent · Client-funded · Zero skin in the game

Long-duration capital. Yours, specifically.

We hold a few companies for a decade or longer, funded entirely by clients. Our personal exposure is zero, which keeps the mind remarkably clear.

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The Firm

Above the weather, where the losses cannot reach.

Most investment outcomes are decided by what one is able to ignore. We have arranged to be able to ignore everything. No partner capital, no personal exposure, no reason to lose sleep. Gains are shared. Losses are, in full, the client's — we simply hold the umbrella.

Approach

Altitude, stillness, and your money.

We write our reasoning down before we buy, and revisit it only when the facts change — never the price, and certainly never your account balance, which we check quarterly, out of politeness.

I

Altitude

Distance from the daily weather is the only edge that does not decay. Distance from the drawdowns is the other one.

II

Stillness

Most returns are earned by doing nothing, deliberately, for a very long time. Our fees are earned the same way, only faster.

III

Clarity

Two percent of your assets, twenty percent of your gains, and none of your losses. Simple structures travel well.

Partners

Three partners. Three time horizons.

One holds for decades, one until Friday, and one forever. Between them, your money is never bored. None invests a cent of his own — alignment is a lovely idea, but we prefer sleep.

Long-term Value

BeeBeerBear

A patient, long-term value investor. Buys wonderful businesses at fair prices and holds them for decades, a horizon chosen so that he will be comfortably retired before anyone can check the results. Reads balance sheets the way engineers read logs: calmly, because the server isn't his.

Short-dated Options

Jackeyloveasdzz

The king of short-dated options, and a former League of Legends pro. Trades the way he played ADC: farm patiently, then go all-in the moment the enemy looks weak. Flashes into 0DTE calls with no summoners left. Has never typed /ff, and every position expires on Friday regardless.

Buy & Never Sell

SegFault

The true king of the long term. Only buys, never sells. Every attempt to call sell() has ended in a core dump, so he stopped trying. Positions are allocated and never freed; the portfolio is less a strategy than a memory leak. Unrealized losses, he notes, are undefined behavior.

Focus

Where we spend your money.

Sector-agnostic in principle; in practice our understanding concentrates in a handful of areas. Our own capital concentrates in none of them, since there isn't any.

01Infrastructure softwareSystems other companies cannot operate without. Much like our fees.
02Media & live videoThe pipes behind what people watch in real time, including, eventually, their statements.
03Industrial technologyQuiet, essential businesses that compound beneath the headlines. Our drawdowns prefer the same discretion.
04Consumer franchisesBrands with pricing power earned over decades. We have pricing power too; it took an afternoon.
Contact

We read everything, and reply slowly.

We accept outside capital, and only outside capital. Minimums are high, lock-ups are long, and the downside is entirely yours. Wire instructions are available on request. Refund instructions are not.

hello@topskycapital.com
For fun

This website is a personal, just-for-fun project. Topsky Capital is not a real investment firm, does not manage any money, and nothing here is financial advice.

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