ABOUT THE ADVISER

Focused on leading secular growth opportunities

We manage concentrated, high-conviction secular growth portfolios for clients in both a long-only and a hedged equity structure.

Discovering unrecognized equity value

We believe transformative companies will displace legacy industry incumbents in several key sectors.

Portfolio Managers

 

Gary and David began working together in 2013, both specializing in growth stock investing based on fundamental research. With career foundations as analysts, they employ deep fundamental research and modeling to select catalyst-driven secular growth candidates for client portfolios.

Their shared history and prior successes at investment management firms allow them to come to consensus quickly, making investment decisions targeted to benefit clients. Both strongly believe in active management, proprietary research, and high conviction strategies that are not tied to benchmarks.
Gary Black w

Gary Black

Portfolio Manager |
Managing Partner,  
The Future Fund LLC
  • Nearly 30 years' portfolio management, investment, research, and operational experience
  • MBA, Harvard Business School, BSc in Economics The Wharton School of the University of Pennsylvania
Bio
Gary Black w

David Kalis, CFA

Portfolio Manager |
Partner,
The Future Fund LLC
  • 25+ years' proven success managing small- and mid-cap portfolios and leading investment teams
  • BA in Economics, University of Michigan
  • Chartered Financial Analyst®
Bio

Advisory Board

Dr. Jeffrey Yu

Dr. Jeffrey Yu

Advisory Board Member
  • Entrepreneur, Board Certified MD in Radiology and Nuclear Medicine
  • Founder of two healthcare technology companies
  • MD, Wake Forest School of Medicine, Residency and fellowship Mallinckrodt Institute at Washington University
  • BS, U of C Berkeley
Bio
Wendy Grubbs

Wendy Grubbs, JD

Advisory Board Member
  • Distinguished career in legal, government and corporate positions
  • Special assistant to President George W. Bush, experience in the United States Senate and attorney in the private sector
  • JD, Wake Forest University
    BA, University of North Carolina, Charlotte
Bio

Our Philosophy

WE INVEST IN TRANSFORMATIVE COMPANIES THAT CREATE LONG-TERM VALUE.

Our investment philosophy is based on thematic idea generation, a systematic, proprietary research-backed process for analyzing industries and companies, and disciplined portfolio and risk management.
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KEY SECULAR MEGATRENDS

Megatrends are powerful forces that profoundly transform the global economy business and society. They are ignited by innovation in consumer preferences, demographics, and environmental sustainability.

We focus on identifying inflection points in these multi-year, secular trends, which can lead to significant increases in their total addressable markets (TAM), earnings trajectories, and market capitalizations for companies who seize these opportunities.
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HOW MEGATRENDS ARE SHAPING OUR FUTURE

Megatrends have been changing the way people live for hundreds or even thousands of years.

Read our brief on how we believe these global forces are impacting businesses, economies, cultures and individuals today, and setting a path for the future.
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Our Process

TARGETING BUISNESSES CAPITALIZING ON SECULAR TRENDS OVER 3-5 YEARS

Our investment process is a combination of a

  • Defined set of secular trends
  • Repeatable approach aimed at significant excess returns
  • Concentration on the best secular growth ideas
  • Continual evalution of downside scenarios

We strive to find investment opportunities where company fundamentals differ from the consensus, a key driver of alpha generation.

Active Share measures the percentage of fund holdings that is different from the benchmark holdings.
Alpha is the excess return on an investment after adjusting for market-related volatility and random fluctuations
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