Mandate

The mandate is deliberately non-thematic; allocation follows asymmetry, governance quality, and cadence rather than sectoral focus.
The objective is sustained compounding of value across extended horizons.
Visibility is incidental; effect is the constant.

Positions 2022– (indicative)

Core Holdings — Ownership Range: 5–9%

Special Situations — Event-driven

Legacy Series III — 2022–∞

Ranges indicative; disclosures limited.

Methods

Nordlys Alpha applies processes that emphasize trajectory over episodic data.
Research is internally driven and supplemented by comparative analysis.
Engagement is selective, structured, and proportionate to conviction.

Indicative metrics include TSR, IRR, Governance Δ and VaR(α).
These serve as orientation but remain subordinate to mandate discipline.
Risk management is addressed not through breadth of diversification but through clarity of ownership, cadence of execution, and resilience of free cash flow.

Advanced instruments are employed selectively.
Derivative overlays, volatility harvesting, and scenario-based stress testing are incorporated not as primary drivers but as supporting frameworks.
Cross-asset signals serve to refine cadence, ensuring continuity across cycles.

Engagements

When asymmetry warrants, Nordlys Alpha engages directly with counterparties.
Engagements may involve governance, capital allocation, or operational cadence.
Outcomes are measured over cycles, not announcements.

Correspondence and results remain undisclosed;
engagement is remains for established, long-horizon counterparts.

Disclosure

All figures, methodologies, and descriptions provided are indicative and non-exhaustive.
Disclosure is selective, retrospective, and at the sole discretion of Nordlys Alpha.
Completeness is neither implied nor assured.