We’re introducing a new taxonomy for our research platform as part of its rebranding to Sophon Microcap Atlas. Going forward, all work on companies under $500M in market cap will live here. Research on larger companies will move to Alpha Ark, the platform we recently acquired. Over the next two weeks, both platforms will be updated to reflect this reorganization. Along with this shift, we’re also splitting our model portfolio into two: one dedicated to microcaps, and another All Cap Best Ideas.
We know our work comes at a meaningful cost, and our goal is to deliver the highest value possible to readers. Part of that commitment is writing on every company we analyze, not just the ones we invest in. The practice began when we were consulting for a family office and discovered that publishing our thoughts sharpened our own decision-making - a way of clarifying ideas while sharing them.
On Sophon Microcap Atlas, research will fall into seven categories:
Brief Dives - Short notes on companies we reviewed but passed on.
Coverage Deep Dives - Full write-ups on companies we don’t currently own but track closely for potential opportunities.
Coverage Initiations - Long-form research on companies we expect to hold in our model portfolio for 3+ years.
Trade Ideas - Research tied to portfolio holdings with shorter (<1 year) time horizons.
Updates - Follow-ups on prior deep dives, initiations, or trade ideas.
Thematic Primers - Broad research on structural trends and themes.
Interviews - Conversations with microcap executives, industry participants, and fellow investors.
This new structure creates a clearer framework for our coverage universe and portfolio, while giving readers transparency into both our process and priorities.