Big milestone for us at Spear.
Our flagship fund, Spear Alpha ETF ($SPRX), recently surpassed $200 million in assets under management.
May was a strong month, with the fund returning 27% and bringing year-to-date performance to 42%.
While we're proud of that result, one month is not what matters most.
What matters is our ability to compound capital over time.
Over the last three years, the strategy has generated 46% annualized returns and 176.9% cumulative performance, significantly outperforming both the S&P 500 and Nasdaq Composite.
How were we able to do that?
By identifying transformational technologies before they become consensus.
When I wrote the fund's prospectus nearly five years ago, I outlined six themes that would guide our investment process:
- Artificial Intelligence
- Space
- Energy Transition
- Robotics
- Photonics
- Enterprise Digitalization
At the time, many of these markets were considered niche and speculative.
Today:
- AI is expected to become a trillion-dollar-plus ecosystem, with hardware spending alone potentially exceeding $1 trillion annually.
- Space has evolved into a hundreds-of-billions market opportunity, with launch costs falling and commercial activity accelerating.
- Energy and power infrastructure have become central to AI development, creating one of the largest investment cycles in decades.
- Robotics is moving beyond industrial automation toward intelligent, AI-powered physical systems.
- Photonics is becoming a critical technology enabling the next-generation AI networking and quantum computing infrastructure.
- Enterprise digitalization may end up being the largest one of the above, with SpaceX estimating a $22 trillion enterprise application TAM 😮
But identifying trends is only half the battle.
The real challenge is converting those trends into differentiated investment ideas before they become obvious. That's where process matters.
Our focus has always been on finding areas where technological change is accelerating, market expectations remain mispriced, and our research can generate an edge.
Thank you to our investors for your trust and partnership.
I'm even more excited about the opportunities ahead today than I was when I launched the strategy.
$SPRX is listed on the Nasdaq. Fact sheet link in comments.
Disclosure: Past performance does not guarantee future results. For the prospectus, holdings, and standardized performance information, please visit https://t.co/wjSkWs00Xt