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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structural crypto-native catalysts heading into Q3."
Sigil Core delivered an exceptional Q2 2025 performance, returning 55.3% net of fees in USD and beating the BTC benchmark by 19.61%. Key drivers included the highly successful Circle IPO (CRCL) and Hyperliquid's (HYPE) outstanding 300% growth. The fund actively managed risk by fully exiting Coinbase (COIN) and taking profits on Robinhood (HOOD). Meanwhile, the market-neutral Sigil Stable fund grew its assets by nearly 50% to $32.8M, delivering 3.01% for the quarter (18.14% YTD CAGR) by utilizing selective yield-farming strategies and avoiding high-profile OTC scams. Looking forward, the fund remains heavily allocated (90%+ risk-on in Core) ahead of an active Q3 pipeline of high-profile token launches.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Growth Outlook
Market outlook remains high conviction: Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Risk Appetite
Risk appetite posture is high conviction: Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Forward Guidance
Forward guidance signal: Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Language Signal
Tone analysis indicates high conviction language: Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Opportunity Density
Opportunity density index indicates high conviction actionable entry points. Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
Time Horizon
Investment time horizon reflects a above average conviction orientation. Sigil Core returned 55.3% USD in Q2 2025, significantly outperforming BTC thanks to wins in the Circle IPO and Hyperliquid. The fund remains highly risk-on and focused on structura...
