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| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
Recurve Capital Partners LP pursues a high-conviction growth strategy concentrated in customer-friendly, disruptive businesses with durable advantages against technological transformation. In September 2026, the fund generated an estimated return of -13.2% net of fees (-18.2% net YTD), significantly impacted by spiking Treasury yields and market disruption concerns following the rollout of consumer artificial intelligence agents. Emerging inflation pressures, driven by oil supply constraints and intense demand bottlenecks across AI power and tech infrastructure, triggered a 25 basis point Federal Reserve rate hike that weighed heavily on mid-and-small-cap equities. The portfolio maintains heavy concentration across eleven holdings, anchored by an exceptional 46.6% allocation to Carvana alongside core stakes in Royal Caribbean, Paymentus, and RH. Portfolio companies are segregated into vertically integrated physical-digital operators, mission-critical infrastructure software, and physical-world secular growth compounders. Trading at bottom-quartile five-year valuation multiples, the manager anticipates substantial multi-year upside despite recent macroeconomic turbulence.
Invest in a concentrated portfolio of disruptive, customer-friendly growth businesses possessing robust physical-digital integration and structural moats that remain resilient against AI disruption.
The manager remains optimistic regarding forward multi-year returns, citing the confluence of resilient corporate operational fundamentals and historically depressed valuation multiples. Portfolio holdings currently trade in the bottom quartile of five-year multiples across multiple methodologies, providing an asymmetrical risk-reward setup once short-term interest rate volatility and AI agent disruption anxieties normalize.
As of Oct 2, 2026
Aaron Chan, Founder and Managing Partner, brings twenty years of long/short investing experience and earned his B.S. in Management Science and Engineering from Stanford University in 2004. He spent over six years at MIG Capital, a long/short equity hedge fund based in Newport Beach, CA. His career also included managing media and telecom sector investments at Facet Capital Management, managing a quantitatively-driven fundamental strategy at QM Capital targeting microcap markets, and starting his career at Criterion Capital Management focused on technology, media, and telecom sectors. He launched Recurve Capital with $10M in 2021 after leaving a $1.2B AUM family office hedge fund.
Lead Portfolio Manager
High Conviction Bullish
Market Conviction
50
Growth Outlook
50
Risk Appetite
50
Capital Deployment
50
Forward Guidance
50
Language Signal
50
Perceived Risk
50
Opportunity Density
50
Time Horizon
50
Top Conviction Themes
Key Catalysts
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