- Gross
- +146.54%
- SPY TR
- +32.68%
- Excess
- +113.86pp
Performance
Priori measures fund performance against SPY total return, including reinvested dividends. Where a single representative series is shown, it is the Q1 Fund. Figures are from the locked 30 September 2026 reporting snapshot. Inception is 1 January 2025, so since inception figures chain incubator performance with the Q1 Fund.
September 2026 tear sheet (PDF) ↓- Gross
- +72.35%
- SPY TR
- +12.71%
- Excess
- +59.64pp
- Gross
- -5.91%
- SPY TR
- +2.38%
- Excess
- -8.29pp
Growth Since Inception
Fund gross returnSPY TRIncubator performance
-40%0%40%80%120%160%200%
Incubator performance Q1 Fund Jan 20252025Jul 2025JulJan 20262026Jul 2026Jul
+146.54% +32.68%
The line chains incubator performance, the combined personal trading results of the fund managers before external capital was accepted, with the Q1 Fund from 1 January 2026. Q1 Fund returns are gross, before accrued performance fee and tax, the same basis as the quarterly table. Past performance, including incubator performance, is not a reliable indicator of future results.
Returns by Period
The official external-investor fund launched on 1 January 2026. Earlier results are incubator performance, the combined personal trading results of the fund managers before external capital was accepted.
Gross returnSPY TRIncubator performance
-20%0%20%40%60%80%100%
Jan to Dec2025
Jan to Mar2026
Apr to Jun2026
Jul to Sep2026
| Period | Gross | SPY TR | Excess |
|---|---|---|---|
| Jan 2025 to Dec 2025Incubator | +43.05% | +17.72% | +25.33pp |
| Jan 2026 to Mar 2026Q1 Fund | -1.38% | -4.37% | +2.99pp |
| Apr 2026 to Jun 2026Q1 Fund | +85.73% | +15.12% | +70.61pp |
| Jul 2026 to Sep 2026Q1 Fund | -5.91% | +2.38% | -8.29pp |
Quarterly figures from January 2026 use the Q1 Fund as the representative public series and are raw economic NAV returns before accrued performance fee and tax. Quarterly rows are measured independently over their stated windows. Each quarterly sub-fund has its own inception date and investor result. Past performance is not a reliable indicator of future results.
Q1 Fund Risk Metrics
Measured on the locked daily series since the Fund accepted external investor capital (1 January 2026) to 30 September 2026. The short operating history makes these metrics sensitive to individual periods.
Q1 Fund -35.50%
SPY TR -8.88%
Q1 Fund 60.71%
SPY TR 13.34%
Q1 Fund 1.44
SPY TR 1.04
Q1 Fund 2.32
SPY TR 1.57
Contact the Fund Management Team
To discuss wholesale investor requirements, investor materials, and the onboarding process.
Location
Auckland, New Zealand
For wholesale investors only. This website is informational and does not constitute an offer, solicitation, recommendation, or financial, legal, or tax advice.
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