Who we are
Water Rock Invest is a privately owned investment entity based in Denmark. We manage proprietary capital with full discretion and a clear objective: to preserve and grow wealth through thoughtful, cycle-aware investing.
Our work is guided by a structured research process, independent thinking, and a strong emphasis on downside protection. We operate without external capital, which allows us to maintain a long-term perspective, free from short-term performance pressures.
Photo by Rick J. Brown
Our principles - Water & Rock
We balance between two forces
Rock — Stable, cash-generative, well-governed companies that can anchor the portfolio through economic cycles.
Water — Select opportunities where cyclical, structural or thematic shifts create asymmetric upside.
We focus on three principles
Fundamentals first — We prioritize business quality, balance sheet strength and capital allocation discipline over narratives.
Risk before return — Position sizing, downside scenarios and liquidity are built into every decision.
Cycle awareness — We pay close attention to macro cycles, freight markets, energy flows and interest rates to understand where we are in the regime, not just what a company earns today.
Photo by Jackie Best
Our process and framework
Our investment process is designed to be structured, repeatable and risk-aware
Research-driven
We combine fundamental analysis with macro and industry insights to form a holistic view of each opportunity.
Structured entries and exits
Each position is entered with a defined thesis, valuation range, and exit criteria.
Risk-first approach
Position sizing, liquidity, drawdown potential, and scenario analysis are central to our decision-making.
Flexibility in allocation
We retain the ability to shift between defensive, cyclical, or opportunistic positions depending on market dynamics.
Photo by Jackie Best