Fund Allocation
Entries describing asset class, strategy type, and holding period, with active positions listed first. Position sizes and exact entry and exit levels are not disclosed. This record is maintained as a transparent track record for future qualified investors.
Entries describe asset class, strategy type, and holding period only. Position sizes, specific trade levels, exchange venues, and algorithmic parameters are proprietary and not disclosed.
Active Positions
Asset Class
SOL Perpetuals (Long)
Strategy Type
Discretionary / Macro
Held
15 Jul 2026 to Present
Opened on 15 July at low leverage, alongside the BTC long. With the fund's positioning having turned from bearish to constructive, Solana offered higher beta exposure to the same recovery thesis, sized to keep overall portfolio risk conservative.
Position sizes, entry and exit levels, and trading venues are not disclosed.
Asset Class
BTC Perpetuals (Long)
Strategy Type
Systematic / Trend Following
Held
Early Jul 2026 to Present
Opened in early July once the short book had been fully closed. The position runs at low leverage and is designed as a low risk expression of a trend reversal, with stops placed at a level that would invalidate the signal.
Position sizes, entry and exit levels, and trading venues are not disclosed.
Asset Class
HYPE Perpetuals (Long)
Strategy Type
Discretionary / Macro
Held
Jun 2026 to Present
Opened in June as a low leverage long in Hyperliquid, which we view as one of the clearest beneficiaries of on-chain derivatives volume migrating away from centralised venues.
Position sizes, entry and exit levels, and trading venues are not disclosed.
Closed Positions
Asset Class
BTC (Short)
Strategy Type
Discretionary / Macro
Held
May to Early Jun 2026
Opened in May on the thesis set out in The Art of Fading Noise: on-chain divergence, structural resistance at the true market mean, and mispriced macro optimism. The position was closed in full in early June, when Glassnode data showed long-term holders capitulating, a signal that has historically marked late-stage selling rather than the start of a new leg down.
Closed in profit.
Position sizes, entry and exit levels, and trading venues are not disclosed.
Asset Class
ETH (Short)
Strategy Type
Discretionary / Macro
Held
May to Early Jun 2026
Opened in May alongside the BTC short, on the same thesis: on-chain divergence, structural resistance at the true market mean, and mispriced macro optimism. Closed in early June. No new ETH position has been entered since.
Closed in profit.
Position sizes, entry and exit levels, and trading venues are not disclosed.
Asset Class
BTC Spot vs. Futures (Short)
Strategy Type
Basis Carry
Held
Feb to May 2026
A hedged position: long BTC spot against an equivalent notional short in futures, capturing the basis. As the market declined, the spot leg marked lower while the futures leg gained, offsetting the drawdown on spot.
The trade closed in net profit.
Position sizes, entry and exit levels, and trading venues are not disclosed.