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 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.

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

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


David Kalis, CFA

Portfolio Manager |
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®


Advisory Board

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



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


Insights & News

Why Tesla Stock Dropped after Q4 Earnings

Gary Black, managing partner, talks with Dave Lee about the reaction to Tesla’s earning call, why the stock is selling off, $25k model, FSD, macro uncertainty, risks and catalysts.

Investment Thesis: Quanta Services (PWR)

We believe Quanta Services (PWR) works as the go-to “picks & shovels” pure play for domestic energy transmission infrastructure. The leading specialty construction services franchise, PWR fits our Climate Sustainability megatrend.

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