INVESTMENT PHILOSOPHY
Institutional-grade tools and structures designed for entrepreneurs and families seeking tax efficiency, liquidity, and portfolio innovation.
OUR INVESTMENT PHILOSOPHY
After over two decades of experience at PIMCO, Goldman Sachs, J.P. Morgan, Simplify Asset Management, and building venture-backed fintech companies, the team at Dishmi Capital focuses on delivering measurable advantages through specialized strategies in tax efficiency, liquidity, and innovation.
The sections below outline the core elements of our investment philosophy and the capabilities we bring to clients navigating concentrated stock positions, private-market liquidity events, and complex tax-aware portfolio construction.
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Long-Short Tax-Aware Investing
We evaluate and implement long-short tax-aware strategies that combine broad equity exposure with meaningful tax-loss realization potential. Key considerations include benchmark selection, leverage levels (e.g., 130/30 up to 300/200), tracking error, and funding mechanics. These strategies often serve as a powerful portfolio building block for clients seeking both pre-tax alpha potential and improved tax efficiency.
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Trader Hedge Funds
Through long-standing relationships and early adoption, we educate clients on trader hedge funds and how they can be implemented within a broader asset allocation. We have helped clients access these tax-aware hedge funds with significantly reduced fees, and are constantly seeking to deliver institutional access as well as fee alpha where possible.
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Box Spread Borrowing
We utilize box-spread financing strategies as a tax-aware borrowing tool. These synthetic loan structures can offer deductible interest expense while preserving portfolio growth, often serving as a more efficient alternative to traditional margin or securities-backed lines for certain clients.
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Section 351 Transactions
For clients with significant embedded gains or low-basis positions, we help structure Section 351 exchanges where appropriate. This allows tax-deferred contribution of appreciated assets into a controlled corporation, enabling diversification while managing the timing of tax recognition.
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ETF Innovation
Drawing from our experience helping scale Simplify Asset Management from $0 to over $10B AUM and launching multiple derivatives-based and alternative ETFs, we bring deep expertise in ETF mechanics, tax efficiency, and portfolio construction. We leverage this knowledge to incorporate innovative ETF solutions where they enhance liquidity, transparency, or cost efficiency for clients.
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Private Markets Access & Liquidity
We maintain relationships across the venture and private equity ecosystems to source secondary allocations (including companies such as SpaceX and Stripe) and provide diligence support. For existing private-market holdings, we focus on liquidity planning, capital-call management, and tax-aware borrowing overlays so clients can maintain desired exposure without forced sales of public assets.
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Closing Section
This investment philosophy reflects the institutional experience we carry forward into an independent, fully aligned model. Every strategy is customized to each client’s unique goals, tax situation, and liquidity needs.