Fund Features
Key Elements
• Safe, Boring, and Under-the-Radar Companies. Fieldsong’s equity positions avoid high-fliers, fads, glamour stocks, and companies that everybody knows.
• Options-Based Hedging. Uses inexpensive medium-range put options as an alternative to short positions to minimize risk and maximize gain.
• No Management Fee. Fieldsong believes that only outperformance should be rewarded.
• Offshore Feeder Fund. Our British Virgin Islands fund is a pipeline into the Delaware master fund; it offers offshore investors and IRAs advantages in tax efficiency, flexibility, and compliance.
• Strong Performance. Yuval Taylor, Fieldsong’s portfolio manager, has amassed an exceptional performance record in his family portfolio, with an eight-year CAGR of 46% (2016–2023 inclusive).
Investing Approach
• Algorithmic Methodology. Complex but dependable rules inform every decision. Discretionary stock-picking can too easily fall prey to irrationality.
• Fundamentals-Based. Financial statements comprise the key data for the fund’s strategy.
• Ranking-Based. Ranking allows one to simultaneously consider hundreds of factors pertinent to an investment’s prospects.
• Daily Rebalance/Reconstitution. By trading daily, Fieldsong can enter and exit positions gradually, minimize small/microcap market impact, and react quickly to major price moves and earnings releases. (Note: this is not day trading – positions are held for months.)
• Sophisticated Portfolio Management. Transaction costs, portfolio weighting, diversification, leverage, hedging, and much more are all carefully calibrated.
• Boutique Approach. Investments are capped at $80M and investors will be limited to a select group.
Fieldsong’s Principals
Yuval Taylor,
Portfolio Manager
Yuval Taylor has written three non-fiction books published by W. W. Norton, as well as articles in The New York Times Book Review, The Guardian, and elsewhere. He worked as an editor in publishing houses for thirty years and then for Portfolio123, a small financial technology firm, during which time he made enough from investing to enable his wife and himself to retire in 2022. He manages Fieldsong’s investments.
Scott Beavers,
Chief of Operations
Scott Beavers, MBA, has been collaborating with Yuval on his investing journey for years, automating backtesting systems and advising him on everything from strategic home refinancing to options trading. Scott played professional blackjack as a card counter, then spent over twenty years coding and managing multidisciplinary development projects for DNA-sequencing firms. Drawing on a wealth of knowledge in tax matters, business administration, and marketing, he handles all of Fieldsong’s non-investing-related operations.