Meditation Capital
Our archive holds 3 letters from Meditation Capital, behind 9 investment theses and positions in 6 companies. Every quote below is copied verbatim from the letter it came from.
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What they bought and sold · 5 moves
- AddedAtlassianJune 2026
“we progressively added Workiva, Atlassian, Dynatrace, and Klaviyo.”
Read the letter - AddedKlaviyoJune 2026
“we progressively added Workiva, Atlassian, Dynatrace, and Klaviyo.”
Read the letter - AddedDynatraceJune 2026
“we progressively added Workiva, Atlassian, Dynatrace, and Klaviyo.”
Read the letter - AddedWorkivaJune 2026
“we progressively added Workiva, Atlassian, Dynatrace, and Klaviyo.”
Read the letter - TrimmedMonday.comJune 2026
“Monday we have since reduced due to opportunity cost as all software fell”
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Companies held · 6
Every company Meditation Capital has disclosed a position in across our archive, with the letter that last mentioned it.
Theses · 9
- KlaviyoJune 2026
Klaviyo is a software company the fund bought at a sharply depressed valuation because it fits the manager’s view that certain application software can be an AI beneficiary rather than a casualty.
Read the full thesis - BrazeJune 2026
Braze is a customer engagement platform whose deep domain expertise in scaled messaging and AI-enhanced marketing workflows is seen as a moat and an opportunity.
Read the full thesis - Monday.comJune 2026
Monday.com is a collaboration software company the fund retained but trimmed because software valuations and opportunity costs changed, while still viewing the category as potentially mispriced.
Read the full thesis - WorkivaJune 2026
Workiva is a dominant SEC reporting and workflow platform with strong moat, AI-resilience, growing platform adoption, improving margins, and a low valuation.
Read the full thesis - AtlassianJune 2026
Atlassian is a team collaboration software company whose AI use case is distinct from other software categories and is being evaluated as a beneficiary of the selloff.
Read the full thesis - DynatraceJune 2026
Dynatrace is an observability software company that the manager views as an AI winner, with the category already being repriced accordingly.
Read the full thesis - December 2025
Molina Healthcare is a Medicaid-focused insurer with cost leadership, strong execution under CEO Joe Zubretsky, attractive valuation, and potential AI-driven efficiencies supporting a ~34% 4-year IRR.
Read the full thesis - December 2025
Elevance Health is a diversified insurer with a strong Anthem Blue Cross Blue Shield brand, attractive valuation and margin normalization potential, and possible AI-driven efficiencies supporting a ~25% 4-year IRR.
Read the full thesis - March 2025
Lottomatica is an investment opportunity due to Italy's low online gambling penetration, which is expected to grow significantly, leading to higher margins and sustainable EBITDA growth.
Read the full thesis
Letter archive · 3
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