Equity Growth 

This strategy seeks long-term capital appreciation by investing in a portfolio of publicly traded equity investments identified as potentially exhibiting superior and sustainable growth compared with the market.  There is no restriction on the market capitalization of companies held.  This strategy is highly concentrated and will have more stock specific risk and potentially lower correlation with the benchmark than a fully diversified strategy.  The benchmark is the S&P 500 Total Return Index. 

Subject to account minimums, the strategy may use a portion of its assets (generally no more than 5%) to purchase put options on businesses that have been identified as potentially exhibiting inferior growth prospects or that may also be adversely affected by either specific events or by momentum considerations, among other factors.  The goal of this is to attempt to minimize equity market volatility, provide efficient portfolio management, and provide potential for additional returns.

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Long/short equity growth

This strategy seeks a positive, above average absolute return over a diverse set of market environments by investing in a concentrated portfolio comprised mainly of long and short equity investments and strategic options positions.  There is no market cap restriction on the businesses targeted.  Long positions are equity investments, or derivatives thereof, identified as potentially exhibiting superior and sustainable growth compared with the market.  Short positions are equity investments, or derivatives thereof, identified as potentially exhibiting inferior growth prospects or that may also be adversely affected by either specific events or by momentum considerations, among other factors.  The goal of this is to attempt to minimize equity market volatility, provide efficient portfolio management along with downside protection, and potential for additional returns.  The strategy does not have a long or short bias mandate.  Gross and net exposures are variable depending on the assessment of shifting economic and market conditions, as well as particular long and short investing opportunities.  The strategy may also use leverage at times.   

This strategy is only currently available in private fund format for investors who meet certain income and/or net worth thresholds.  Please contact us for more information on how you may qualify, and if so, all materials that outline the investment opportunity. 


The Equity Growth composite includes all portfolios that invest in growth equities with the goal of providing long-term capital appreciation. The benchmark is the S&P 500 Total Return Index. The minimum account size for this composite is $250,000. The Equity Growth Composite was created October 1, 2016.  Worm Capital, LLC ("Worm Capital") claims compliance with the Global Investment Performance Standards (GIPS) and has prepared and presented this report in compliance with the GIPS standards.  Worm Capital has been independently verified for the periods October 1, 2016 through December 31, 2016.  Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Equity Growth Composite has been examined for the periods October 1, 2016 through December 31, 2016. The verification and performance examination reports are available upon request.  The information presented prior to 10/1/2016 occurred while the Portfolio Management Team was affiliated with a prior firm, Alsin Capital Management, Inc. ("Alsin Capital").  Alsin Capital was independently verified for the periods July 1, 2012 through September 30, 2016.  While the composite was at the prior firm it received a performance examination. The prior firm track record has been reviewed by an independent accounting firm and conforms to the portability requirements of the GIPS standards.  Worm Capital is a SEC registered investment adviser in accordance with the Investment Advisers Act of 1940.  The firm’s list of composite descriptions is available upon request.  Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Composite performance is presented net of foreign withholding taxes on dividends, interest income, and capital gains.  Withholding taxes may vary according to the investor’s domicile.  Composite returns represent investors domiciled primarily in the United States. Past performance is not indicative of future results.  The U.S. Dollar is the currency used to express performance.  Returns are presented net of management fees and include the reinvestment of all income.  Net of fee performance was calculated using actual management fees.  The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year.  Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request.  The investment management fee schedule for the composite ranges from 1% to 2%.