Our Approach
Our approach is rooted in an intellectually honest assessment of what role we play in this industry — constantly testing our assumptions of where we have edge and how we are adding value.
This approach helps us achieve our continued goal of building a best-in-class, mid-sized multi-strategy hedge fund – utilizing robust infrastructure, sophisticated technology, and skilled people to develop an investment business comprised of high-quality implementations of uncorrelated strategies trading across the globe and in multiple asset classes.
As opportunities inevitably evolve, so does our strategy. Our leadership seeks to build optionality through diversification. This ensures that our business can generate the alpha its investors expect regardless of the market environment.
We currently invest across four main strategy groups.
Volatility
KEY STRATEGIES
- Discretionary and Systematic Volatility Arbitrage
- Convertible Arbitrage
- Global Macro Volatility
- Index Options Market Making
- Interest Rate Volatility Trading and Market Making
- Single Name Options Market Making
- FX Volatility
- Dispersion Trading
- Credit Index Volatility Arbitrage
Walleye was initially formed to manage an electronic and floor-based options market making operation, making our Volatility group one of Walleye’s longest tenured and most successful businesses.
A handful of our volatility strategies have run since inception in our first fund and since scaled in size and capability. Today, our Volatility vertical includes an enhanced version of the market making operation on which the firm was predicated, with the addition of macro volatility arbitrage across the globe, FX volatility, convertible bond arbitrage, equity/index volatility arbitrage, dispersion trading, and interest rate market making and volatility trading.
Walleye is uniquely set up to support portfolio managers in our Volatility group and we continue to defend and maintain one of the best volatility seats globally. Walleye’s broker dealer allows for capital efficiency and increased execution speed for our volatility strategies. Our portfolio managers derive value from our history rooted in options market making, our experienced leadership team, and differentiated infrastructure and technology.
Fundamental Equities
KEY STRATEGIES
- Fundamental Equity Long/Short
- Equity Capital Markets
- SPACs
- Event
- Index Rebalancing
Walleye’s Fundamental Equities business consists of market neutral, sector focused equity long/short strategies and tactical strategies across capital markets, SPACs, and event. Our strategies intend to be flexible across various investment processes while adhering to firmwide portfolio construction and risk management guardrails.
Our teams are led by experienced portfolio managers who have demonstrated success in generating strong risk adjusted returns spanning years-long track records. Walleye embraces small team dynamics in which portfolio managers and analysts work in tandem to develop competitive research approaches that yield strong results.
Our fundamental equities portfolio managers benefit from dedicated resources that provide meaningful insights for structural and behavioral improvement. We provide each team best-in-class technology and systems across PNL and factor attribution, alpha tools, portfolio construction analytics, and risk management.
Quant
KEY STRATEGIES
- Global Equity Stat Arb
- Futures Stat Arb
Quantic, our most prominent quantitative investment business, leverages Walleye’s robust technological and operational infrastructure to trade a wide range of systematic strategies across the globe and across asset classes, including equities, futures, and options. The Quantic team solves some of the firm’s most difficult investment challenges with cutting-edge technology and algorithms.
Our dedicated development team allows portfolio managers to plug directly into our modular platform, rather than build out from scratch. This innovative adaptability, paired with our best-of-all-worlds approach, has resulted in a continual stream of meaningful contributions to the success of the Quantic business and Walleye overall.
We specifically recruit highly inventive problem solvers who have a passion for creating, coding, and statistical modelling. Staffed by pragmatic self-starters, we actively encourage a culture of autonomy within a collaborative environment.
Macro
KEY STRATEGIES
- Systematic Macro
- Discretionary Macro
- Global Rates Relative Value
- Mortgage-Backed Securities
- Discretionary and Systematic Credit
- Global Commodities
- Reinsurance
Walleye’s Macro business encompasses systematic and discretionary macro strategies across global interest rates, commodities, FX, credit, and equity derivatives. Walleye also employs dedicated strategies within mortgages and reinsurance. We are constantly evaluating new opportunities with the goal of building a portfolio of diversified trading strategies through hiring the best portfolio managers and quants.
Our teams benefit from Walleye’s deep investment in proprietary technology and infrastructure with world-class quantitative modeling abilities and powerful database tools to integrate fundamental data across geographies.
We believe fostering collaboration between our fundamental and quantitative teams is key to driving innovation. Our teams are comprised of entrepreneurial, intellectually curious individuals who are passionate about the intersection of macroeconomics and financial markets.
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