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
Jeffery Ulness

Jeff Ulness

Global Head of Distribution
  • Nearly 40 years’ experience in the financial industry as securities attorney and executive positions with major firms
  • Captain, Retired Army National Guard
  • LLM, Securities Regulation, Georgetown Univ. Law Center, JD The University of North Dakota School of Law
Bio
Marilyn Dale

Marilyn Dale

Derivatives Risk Manager
  • Nearly 50 years in the financial industry in product development, marketing, and management roles
  • MBA, finance and marketing, University of Illinois Chicago; BA magna cum laude, University of Illinois, Urbana
Bio

Advisory Board

Michael Balkin

Michael P. Balkin

Advisory Board Member
  • Co-manager, Rail-Splitter Micro Cap Rebound Fund LP
  • 35-years capital market experience; angel investor, board member various small private companies
  • Advisory positions with Wasson Enterprise, former board member Horizon Technology Finance Corporation, William Blair
Bio
Richard Bindler

Richard Bindler

Advisory Board Member
  • Founder, Bindler Investment Group
  • Managing Partner, $11MM BMS de-SPAC Opportunity Fund
  • Advisory Board member, Cresset Capital, a $30B boutique family office
  • Chair, Chicago Advisory Board of Cahn Fellows
  • MBA, Boston University
    BS, University of Florida
Bio
J. Philip Clark

J. Philip Clark

Advisory Board Member
  • Managing Director, Phoenix Capital Partners Real Estate Private Equity $2B AUM
  • Founder, Epoch Investment Partners $25B AUM, Sold to TD Bank
  • National Managing Director, Alliance Bernstein
  • President, InveQuest Securities
Bio
Robert Keith

Robert Keith

Advisory Board Member
  • 26-year career at Alliance Bernstein
  • Served as Head of the Global Client Group Business Unit
  • Led world-wide institutional and third-party distribution, marketing and product strategy for AllianceBernstein.
  • President and CEO of Alliance US mutual fund business
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

We identify and invest in transformative companies affected by significant secular trends over 3-to-5 years that we believe create long-term value (long positions) and, when appropriate to the strategy, short companies that are at a strategic disadvantage in their markets.

Active Share measures the percentage of fund holdings that is different from the benchmark holdings.
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