About Us

The Future Fund LLC is an SEC-Registered Investment Advisor. We've identified megatrends that we believe are the most influential multi-year secular growth opportunities shaping the future. Our focus is on companies that can change the world by capitalizing on these fundamental changes in their markets.

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.

How we differ


Focused portfolios backed by intensive research

We apply deep industry research and create concentrated, high-conviction portfolios.


Unique return profile

We are benchmark agnostic and do not manage to an index, thereby creating high active share and a non-correlated return profile.


Blending people, investment, and operational expertise

Our partners have decades of investment experience and first-hand operational skill gained from managing companies.



Opportunistic and tactical

We strive to exploit short-term dislocations in the market, creating incremental alpha.


Managing risk on multiple levels

We manage risk intensively, both fundamentally and quantitatively.


Fully aligned with investors

We have a fully transparent business model, tied to investment performance to ensure our clients’ interests come first.

Our Philosophy

Centered on Transformative Companies Creating Long-Term Value

Focused on Key Secular Megatrends

Megatrends explained

Our Process

Targeting Businesses Capitalizing on Secular Trends Over Three to Five Years

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

Managing Partner,
The Future Fund LLC

Nearly 30 years' portfolio management, investment, and research experience complemented by operational expertise

MBA, Harvard Business School,

BSc in Economics, Wharton School of the University of Pennsylvania


The Future Fund LLC, Managing Partner


Aegon Asset Management U.S., CEO


Calamos Investments, Global Co-Chief Investment Officer


Black Capital,
CEO, CIO, Founder


Janus Capital Group,
CEO, President, CIO


Goldman Sachs Asset Management,
CIO Global Equities


Sandford Bernstein & Co., EVP, Partner

David Kalis

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®



The Future Fund LLC, Partner


Curvature Capital
Management LLC,
Managing Partner


Calamos Investments,
Co-Chief Investment Officer, Head of U.S. Growth Equity Strategies,
Co-Portfolio Manager


Charis Capital Management LLC, Managing Partner


Northern Trust Global Investments,
Senior Vice President, Portfolio Manager


Segall Bryant & Hamill,
Partner, Portfolio Manager

Insights & News

Advisory Board Named to The Future Fund LLC

The Future Fund LLC has named Dr. Jeffrey Yu and Wendy J. Grubbs, J.D. to a newly-formed Advisory Board. The board will offer the firm’s partners research expertise in the areas of medical technology and Washington politics, as well as provide feedback on managing client investment portfolios.

The Future Fund Reaches $100 Million in Assets

In just under five months, The Future Fund, LLC, a registered SEC advisor, has surpassed $100 million in assets, marking a second major milestone this year. In August, the advisor launched its first exchange traded fund.

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