Shawarma Capital

Shawarma Capital

What We Are Waiting For

The nearest Merlin catalysts, an honest estimate of timing on each, and why the tape has felt quiet

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Shawarma Capital
Sep 12, 2026
∙ Paid

We are long Merlin. It is our largest position, and everything below is written with that on the table.

A subscriber asked the right question in the chat this week. What are the nearest catalysts, and when do we expect them. Another said he felt overdue for some bigger news. Both are fair, and both deserve a straight answer instead of a pep talk.

So this …

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