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

1

Focused portfolios backed by intensive research

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

2

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.


3

Blending people, investment, and operational expertise

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

 

4

Opportunistic and tactical

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


5

Managing risk on multiple levels

We manage risk intensively, both fundamentally and quantitatively.


6

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


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

2021

The Future Fund LLC, Managing Partner

2016-2019

Aegon Asset Management U.S., CEO

2012-2015

Calamos Investments, Global Co-Chief Investment Officer

2009-2012

Black Capital,
CEO, CIO, Founder

2004-2009

Janus Capital Group,
CEO, President, CIO

2001-2004

Goldman Sachs Asset Management,
CIO Global Equities

1992-2001

Sandford Bernstein & Co., EVP, Partner

David Kalis

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®

 

2021

The Future Fund LLC, Partner

2017-2021

Curvature Capital
Management LLC,
Managing Partner

2013-2017

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

2010-2013

Charis Capital Management LLC, Managing Partner

2006-2009

Northern Trust Global Investments,
Senior Vice President, Portfolio Manager

1995-2006

Segall Bryant & Hamill,
Partner, Portfolio Manager

Insights & News

TSLA Bull Case: 3Q Preview, 2022 Catalysts and $1,200 Price Target | Live Call Oct. 19 Replay

Gary Black, Managing Partner, Future Fund LLC provided his insights in advance of Tesla’s upcoming 3rd quarter earnings report on YouTube Live. Watch the replay: https://youtu.be/u_cohDSw448 …………………………………………………………………………………………………………..

SUBSCRIBE on the next page to The Future Fund YouTube channel for future events.

Tesla Outlook: 2019 Redux?

As we look at Tesla today, the situation mirrors late-2019: Tesla was about to open the Shanghai plant, which doubled capacity, and launch Model Y, which doubled the company’s total addressable market (TAM). When Tesla opens plants in Berlin and Austin, Tesla’s capacity will double again. The Model Y launch in Europe will double EU TAM (EU represents 20% of Tesla’s volume) and also puts Tesla vehicles closer to price parity with EU manufacturers, since there will be no import…

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