| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| - | 0% | 0% |
Vailshire Capital Management maintains a bullish stance across its separately managed account portfolios despite expecting continued sideways market action near local highs. Manager Jeff Ross believes recession has been averted as US and international business cycles have bottomed and are grinding higher. The firm's larger-than-typical bitcoin proxy allocations have provided significant performance advantages, with targets of $125,000 by Christmas 2024 and $475,000 by Q4 2025. Portfolio construction follows a 40% equity, 40% sound money, 20% fixed income structure across different risk profiles. The equity portion consists of 2% equal-weighted positions in 20 high-quality technology and consumer companies. Sound money allocations range from 15-49% in bitcoin proxies depending on strategy aggressiveness. Ross expects choppy sideways price action until liquidity conditions improve during summer months, when he anticipates the next major leg higher for risk assets. The manager plans to let winning positions run rather than take profits, viewing current conditions as supportive for continued appreciation once liquidity becomes a tailwind.
Maintain concentrated exposure to high-quality technology companies and significant bitcoin proxy allocations while positioning for liquidity-driven market acceleration expected in summer months.
Manager expects ongoing sideways choppy price action over coming months and quarters before next bull market begins in earnest, with liquidity transition anticipated during summer months to drive next major leg higher for risk assets and bitcoin.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Apr 13 2024 | 2024 Q1 | AAPL, ADBE, AMZN, AVGO, AZO, BRK.B, GOOGL, LLY, MA, MELI, MSCI, MSFT, NVDA, NVR, SHOP.TO, SQ, TPL, TSLA, TT, V | Bitcoin, crypto, liquidity, portfolios, SMA, technology | - | Vailshire maintains bullish positioning with significant bitcoin proxy exposure across SMA portfolios, expecting sideways chop until summer liquidity improvement drives next major leg higher. Equal-weighted 2% positions in 20 quality companies plus 15-49% bitcoin allocations depending on strategy. Manager targets bitcoin at $125,000 by Christmas 2024, letting winners run rather than taking profits. |
| Dec 31 2024 | 2023 Q4 | AAPL, ADBE, AMZN, AZO, FNV, GOOGL, LMT, MA, MELI, MSCI, MSFT, MSTR, NVDA, NVR, OCSL, SHOP.TO, SQ, TPL, TSLA, TT, V | Bitcoin, fixed income, inflation, liquidity, Stagflation, technology |
OCSL MSTR |
Vailshire positions for stagflation through 40/40/20 allocation across equities, sound money, and fixed income. Bitcoin bull market drives increased MSTR allocation ahead of potential ETF approval and 2024 halving. Expanding global liquidity supports risk assets while manager consolidates fixed income into high-yielding OCSL. Portfolio designed for anticipated decade of economic stagnation and volatile inflation. |
| Jan 11 2023 | 2023 Q3 | - | - | - | |
| Jan 9 2023 | 2023 Q2 | - | - | - | |
| Jan 4 2023 | 2023 Q1 | - | - | - | |
| Sep 1 2023 | 2022 Q4 | - | - | - | |
| Oct 10 2022 | 2022 Q3 | - | - | - | |
| Apr 19 2022 | 2022 Q2 | - | - | - |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2024 Q1 |
CryptoManager maintains bitcoin price targets of $125,000 by Christmas 2024 and $475,000 by Q4 2025, viewing current conditions as supportive for the next major leg higher during summer months. Bitcoin proxies have provided significant performance advantages, with allocations ranging from 15-49% across different SMA strategies. |
Bitcoin MSTR FBTC Digital Assets Cryptocurrency |
LiquidityManager closely monitors US Net Liquidity and Global M2 money supply trends, expecting sideways chop until liquidity transitions from choppy sideways to a true tailwind during summer months. Current liquidity indicators suggest ongoing sideways price action near local highs. |
M2 Net Liquidity Money Supply Central Bank Monetary Policy | |
| 2023 Q4 |
CryptoBitcoin has entered a bull market with potential spot ETF approval and upcoming halving event. Manager believes bitcoin is historically the best performing asset class during bull markets and has been steadily increasing bitcoin proxy holdings. |
Bitcoin ETF Halving MSTR Miners |
LiquidityUS and global net liquidity experienced bottoms in late September/October 2023 and have been steadily rising since. Manager views liquidity as the oxygen of risk asset markets and expects continued expansion to benefit stocks and bitcoin. |
Net Liquidity M2 Risk Assets Central Bank | |
InflationInflation continues showing signs of abating despite remaining higher than desired. Long-term Treasury yields have peaked and rolled over, suggesting future economic growth and inflation expectations are moderating. |
Treasury Yields Fed Policy Economic Growth |
| Date | Pitch Type | Author | Ticker | Company | Industry | Sub Industry | Bull / Bear | Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|---|
| Dec 1, 2023 | Fund Letters | Vailshire Partners Hedge Fund | MSTR | MicroStrategy Incorporated | Information Technology | Application Software | Bull | NASDAQ | Bitcoin Proxy, Bull market, cryptocurrency, Digital Assets, ETF Approval, Halving, Sound Money | Login |
| Dec 1, 2023 | Fund Letters | Vailshire Partners Hedge Fund | OCSL | Oaktree Specialty Lending Corporation | Financials | Asset Management & Custody Banks | Bull | NASDAQ | asset management, Business development company, Distressed debt, first lien, fixed income, floating rate, high yield | Login |
| TICKER | COMMENTARY |
|---|---|
| AAPL | 2% allocation across all SMA portfolios |
| ADBE | 2% allocation across all SMA portfolios |
| AMZN | 2% allocation across all SMA portfolios |
| AVGO | 2% allocation across all SMA portfolios |
| AZO | 2% allocation across all SMA portfolios |
| BRK.B | 2% allocation across all SMA portfolios |
| GOOGL | 2% allocation across all SMA portfolios |
| LLY | 2% allocation across all SMA portfolios |
| MA | 2% allocation across all SMA portfolios |
| MELI | 2% allocation across all SMA portfolios |
| MSCI | 2% allocation across all SMA portfolios |
| MSFT | 2% allocation across all SMA portfolios |
| NVDA | 2% allocation across all SMA portfolios |
| NVR | 2% allocation across all SMA portfolios |
| SQ | 2% allocation across all SMA portfolios |
| TPL | 2% allocation across all SMA portfolios |
| TSLA | 2% allocation across all SMA portfolios |
| TT | 2% allocation across all SMA portfolios |
| V | 2% allocation across all SMA portfolios |
| Ticker | Put/Call | Amount Bought | Shares Bought | % Change | Weight % |
|---|---|---|---|---|---|
| No Recent Buys Data | |||||
| Ticker | Put/Call | Amount Sold | Shares Sold | % Change | Weight % | Status |
|---|---|---|---|---|---|---|
| No Recent Sells Data | ||||||
| Industry | Prev Quarter % | Current Quarter % | Change |
|---|---|---|---|
| No industry data available | |||
