01WAIT
Industrial connectivity
Independent investment research
Small companies.
Serious research.
MITUXA looks beyond the obvious names to find specialised businesses with room to compound — then separates business quality from an investable price.
01 / WHY SMALL CAPS
The opportunity is not that small companies are automatically better. It is that fewer investors do the work.
Less coverage can create larger gaps between price and business reality. We focus on understandable economics, defensible niches, financial quality and management that can reinvest without destroying value.
02 / THE INAUGURAL TEN
A global research universe—with decisions.
Only BUY receives capital.
WAIT remains in cash.
02WAIT
Surgical quality assurance
Medistim
MEDI · Oslo BørsValuation · €1,000 reserved03WAIT
Measurement intelligence
Vaisala
VAIAS · Nasdaq HelsinkiValuation · €1,000 reserved04WAIT
Advanced electronics manufacturing
Kitron
KIT · Oslo BørsRisk-adjusted valuation · €1,000 reserved05WAIT
Power and connectivity
Bel Fuse
BELFB · NasdaqValuation · €1,000 reserved06WAIT
Mining technology
Chrysos Corporation
C79 · ASXEarnings maturity · €1,000 reserved07WAIT
Specialist electronics
discoverIE Group
DSCV · London Stock ExchangeMargin of safety · €1,000 reserved08BUY
Electrification infrastructure
IPD Group
IPG · ASXAll gates passed · €1,000 allocated09WAIT
Digital diagnostics
CellaVision
CEVI · Nasdaq StockholmGrowth / valuation · €1,000 reserved10WAIT
Precision automation
Kendrion
KENDR · Euronext AmsterdamQuality confirmation · €1,000 reserved03 / FUNDAMENTAL
MITUXA
Fundamental.
Long-term investment decisions based on business quality, financial strength, competitive advantage and valuation. Momentum never changes a fundamental BUY or WAIT decision.
3–5 year horizon · Updated 28 August 2026LONG-TERM BUY8Quality and price pass
WATCHLIST63Wait for price or evidence
HOLD1Existing positions
REVIEW11Thesis under review
ACTIVE FUNDAMENTAL BUYS
Business quality at the right price.
APPNVOALNYHUBSMNDYNBIXPEGAPINS
Open Fundamental decisions ↗04 / MOMENTUM
MITUXA
Momentum 5.
A separate quarterly portfolio of five liquid market leaders selected through relative strength, quality, trend and disciplined risk. This is not the Fundamental list.
Launches 1 October 2026 · five public selections
01○
Public selection
NEXT
Revealed 1 October
Free inaugural portfolio02○
Public selection
NEXT
Revealed 1 October
Free inaugural portfolio03○
Public selection
NEXT
Revealed 1 October
Free inaugural portfolio04○
Public selection
NEXT
Revealed 1 October
Free inaugural portfolio05○
Public selection
NEXT
Revealed 1 October
Free inaugural portfolioQUARTERLY SCORECARD
Every result.
Explained.
- 01Portfolio returnQuarter and since launch
- 02Market comparisonPerformance versus benchmark
- 03Winners & lossesWhat worked and what failed
- 04Next decisionHold, replace or remove
05 / LIVE EXPERIMENT
Experimental · Quarter 01
One Quarter.
Experimental.
A $10,000 portfolio. Five undisclosed US equities. Three months to test whether a disciplined selection process can beat passive exposure.
No names during the experiment. No hindsight. The result will be reported whether positive or negative.
Starting capital$10,000
Positions5
Allocation$2,000 each
Period25 Jul — 25 Oct 2026
Stock 01●
UNDISCLOSED
••••
$2,000 starting allocationStock 02●
UNDISCLOSED
••••
$2,000 starting allocationStock 03●
UNDISCLOSED
••••
$2,000 starting allocationStock 04●
UNDISCLOSED
••••
$2,000 starting allocationStock 05●
UNDISCLOSED
••••
$2,000 starting allocationDAILY SCORECARD
Updated after every US market close.
Current value$10,115.59US market closed
Total return+1.16%As of 28 August 2026
Individual holdings and entry prices remain private. Only the aggregate portfolio value and return are published, with one update per market day.
06 / THE DISCIPLINE
Small-cap research without small-cap excuses.
Understand the mechanism
What problem does the company solve, why does the customer care and where does the economic value accrue?
Test the moat
Niche leadership only matters when it creates pricing power, switching costs, recurring demand or superior returns.
Follow the cash
Growth must convert into operating profit, free cash flow and productive reinvestment — not permanent dilution.
Pay the right price
A compelling company is not automatically a compelling investment. Valuation remains part of the thesis.
07 / EVERGREEN RESEARCH
The archive stays. The focus becomes sharper.
Deep research on businesses
of every size.
01 · Physical AI
View the complete research archive ↗Hesai
Giving physical AI its eyes.
Read research ↗02 · ElectrificationSchneider Electric
Who will capture the value?
Read research ↗03 · Defence technologyExosens
Exceptional technology. A price that demands patience.
Read research ↗04 · SemiconductorsASML
China built a machine. It has not yet built a competitor.
Read research ↗08 / OPEN THROUGH 2026
Build trust first.
MITUXA research remains open through 31 December 2026. The public record — including Fundamental, Momentum and the Small Caps Portfolio — is part of the product, not a marketing claim.