Incline Investment Management, LLC

Systematic Hybrid QEP only

Investment Strategy

IIM utilizes the Systematic Hybrid trend following program across individual stocks and global futures markets. The strategy provides investors with an opportunity to capture trends that many models do not. The fund’s objective is to achieve exceptional absolute risk adjusted returns irrespective of the broad global equity indices. The systematic strategy employed makes no effort to forecast future market trends, but instead attempts to capture profits in these trends when and where they develop.

Performance (VAMI)

Monthly Returns

Fund Manager

 

Mr. Parkhill has over 25 years of management experience in the investment business.  He is a founding partner of systematic macro investment manager Incline Investment Management (IIM).  He is registered with the National Futures Association as a Principal and Associated Person of IIM.  Mr. Parkhill also provides strategic consulting services to hedge funds and financial service firms through Parkhill Financial, LLC.  He is also serves as an Adjunct Professor of business at Sierra Nevada College in Incline Village, NV.

Prior to IIM he was the director of marketing for Zazove Associates a multi-billion dollar quantitative convertible securities manager.  He was a senior marketing executive at John W. Henry & Company one of the original Commodity Trading Advisors.  He was also Managing Director of a small Commodity Trading Advisor in 2007.  Before joining the alternative investment space in 2001, Mr. Parkhill spent over ten years in various sales and marketing management roles in the mutual fund industry, notably with Ivy Mackenzie in the U.S. and with Investors Group in Canada.  He began his career as an investment analyst with Great-West Life.

Mr. Parkhill earned his MBA from Cornell University with concentrations in Finance and Marketing.  He received a B.A. in Economics from the University of Manitoba.  He holds his Series 3, 7, 30 and Series 66 licenses and has earned the CFP designation.  He is married with three children and resides in Crystal Bay, Nevada. Mr. Hurlbut is the CIO of Incline Investment Management (“IIM”)and in 2012 became a Principal and Associated Person of IIM. Until May of 2012 he served as the founder and managing member of Everett Capital Management, LLC. On April 25, 2006 Mr. Hurlbut became registered as a Principal and an Associated Person of his firm and an Associate Member of the NFA. At IIM his duties include head trader and portfolio manager for all investment programs including the firm’s proprietary Systematic Hybrid strategy. Mr. Hurlbut has also served as a portfolio manager at the Putney Financial Group, in San Rafael.

Prior to founding the Everett Capital, Mr. Hurlbut spent six years at Smith Barney in New York and San Francisco as a 2nd Vice President and Blue Chip Council Member. At Smith Barney, he covered middle market institutional accounts and managed discretionary portfolios for high net worth individuals. Mr. Hurlbut received a BA from the University of Virginia where he attended on a swimming scholarship. He is a Chartered Market Technician, member of the Market Technician Association, the CFA Institute and the Security Analysts of San Francisco.

Mr. Hurlbut has been fortunate to have been mentored by a few great traders throughout his career. He holds the Series 3, 7, 31, 63 and 65 FINRA licenses. He is married and has two children. He currently resides in Mill Valley, California and works in Incline Village, NV and Mill Valley, CA.

General Information

Inception DateJul 2012
Minimum Investment2,500,000 USD
Management Fee2.00%
Performance Fee20.00%
Highwater MarkYes
Phone+1-775-831-2287
E-mail[email protected]
Websitewww.inclineim.com

Statistics

Total Return Cumulative 149.40%
Sharpe Ratio 0.54
Sortino Ratio 0.71
Winning Months (%) 61.97%
Correlation vs. S&P 500 TR 0.01

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 3.33 11.86 10.73 0.09 28.10
2023 -0.73 -0.02 -7.74 6.21 3.92 4.61 1.56 -2.76 0.57 -1.05 -3.16 0.59 1.21
2022 -2.96 4.14 11.82 9.53 0.59 -1.23 -7.17 0.40 6.46 -1.68 -6.86 0.03 11.77
2021 3.66 10.47 0.59 8.86 0.95 -3.29 1.05 1.51 0.85 4.94 -8.37 0.33 22.18
2020 0.18 -0.61 9.47 2.13 -1.76 -0.22 3.81 0.67 -6.17 1.06 0.57 11.41 21.16
2019 -5.03 3.48 7.56 0.98 -3.74 5.32 4.18 10.13 -12.80 -5.35 1.45 1.98 6.02
2018 7.88 -10.80 0.33 2.17 0.65 0.33 1.39 6.72 -1.73 -10.57 -2.23 -0.60 -7.95
2017 -1.89 3.23 -6.62 0.44 2.26 -4.11 2.44 1.49 -4.82 8.00 1.35 1.96 2.87
2016 8.67 6.55 -7.66 2.26 -8.43 9.45 3.35 -7.29 -1.31 -7.05 3.87 1.41 1.45
2015 4.13 -4.30 0.92 -2.68 -1.03 -3.75 2.28 -3.50 3.34 -8.09 3.91 -7.04 -15.57
2014 5.68 -0.99 0.01 0.75 -0.59 1.63 -5.21 4.69 6.65 -1.52 4.50 3.51 20.08
2013 -2.17 -2.03 4.02 -2.24 6.04 0.64 3.58 -1.83 -3.38 -5.68 7.13 4.14 7.53
2012 5.93 3.03 -2.45 -4.59 1.22 1.84 4.71
There is a substantial risk of loss in trading commodity futures, equities, options and off-exchange foreign currency products. Past performance is not indicative of future results.
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Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 Month Rolling ROR

Up Capture vs. S&P 500 TR

Down Capture vs. S&P 500 TR

AUM

Volatility (12 Months Rolling)

Risk/Return Comparison

Drawdown

Instruments

No data filled

Return Statistics

Last Month 0.09%
Year To Date 28.10%
3 Month ROR 23.97%
12 Months ROR 33.32%
36 Month ROR 41.20%
Total Return Cumulative 149.40%
Total Return Annualized 8.03%
Best Month 11.86%
Winning Months (%) 61.97%
Gain Deviation 3.24

Risk Statistics

Standard Deviation Annualized 17.09%
Max Drawdown (Monthly) -26.03%
Max Drawdown Length 71
Worst Month -12.80%
Losing Months (%) 38.03%
Average Losing Month -4.09%
Loss Deviation 3.00
Correlation vs S&P 500 0.01
Correlation vs DJ/CS MF 0.71

Risk/Reward Statistics

Sharpe Ratio 0.54
Sortino Ratio 0.71
Omega Ratio 0.96
Skewness -0.08
Kurtosis 0.05

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -26.03% 48 23 02/2015 12/2020
2 -17.80% 10 11 06/2022 02/2024
3 -10.79% 3 2 11/2021 03/2022
4 -10.54% 3 3 08/2013 01/2014
5 -8.05% 6 5 09/2012 07/2013

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 11.86%-12.80%0.77%0.71%0.09%61.97%
3 Months 27.99%-16.27%2.15%0.85%23.97%55.71%
6 Months 41.03%-16.12%3.80%2.42%24.79%57.66%
1 Year 48.91%-18.96%7.45%6.04%33.32%69.47%
2 Years 68.80%-19.45%15.54%11.23%17.08%74.79%
3 Years 90.16%-18.46%22.69%16.34%41.20%70.09%
5 Years 114.96%-17.28%33.34%17.92%113.07%79.52%

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg8.03%23.82%47.18%115.65%358.26%752.52%
% Positive61.97%55.71%57.66%69.47%74.79%70.09%
Avg. Pos. Period3.75%7.79%10.72%13.83%23.87%35.57%
Avg. Neg. Period-4.09%-4.95%-5.63%-7.08%-9.16%-7.50%
Sharpe Ratio0.540.871.231.892.432.77
Sortino Ratio0.711.472.514.928.7713.89
Standard Deviation4.93%8.58%10.66%13.67%22.20%28.33%
Downside Deviation3.13%4.24%4.52%4.66%5.34%4.88%
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Company Information

Minimum Investment2,500,000 USD (notional funding: 50.00%)
AUM33,800,000 USD
Management Fee2.00%
Performance Fee20.00%
Highwater MarkYes
RT per Million5000
Margin to Equity20.00%
Legal StructureManaged Account
Investment RestrictionOnly for Qualified Eligible Persons

Company Information

CompanyIncline Investment Management, LLC
PrincipalTed Parkhill, Todd Hurlbut
Phone+1-775-831-2287
E-mail[email protected]
License NumberNFA 418078
LocationIncline Village, United States
Performance Compiled byNAV Consulting, Inc.

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 3.33 11.86 10.73 0.09 28.10
2023 -0.73 -0.02 -7.74 6.21 3.92 4.61 1.56 -2.76 0.57 -1.05 -3.16 0.59 1.21
2022 -2.96 4.14 11.82 9.53 0.59 -1.23 -7.17 0.40 6.46 -1.68 -6.86 0.03 11.77
2021 3.66 10.47 0.59 8.86 0.95 -3.29 1.05 1.51 0.85 4.94 -8.37 0.33 22.18
2020 0.18 -0.61 9.47 2.13 -1.76 -0.22 3.81 0.67 -6.17 1.06 0.57 11.41 21.16
2019 -5.03 3.48 7.56 0.98 -3.74 5.32 4.18 10.13 -12.80 -5.35 1.45 1.98 6.02
2018 7.88 -10.80 0.33 2.17 0.65 0.33 1.39 6.72 -1.73 -10.57 -2.23 -0.60 -7.95
2017 -1.89 3.23 -6.62 0.44 2.26 -4.11 2.44 1.49 -4.82 8.00 1.35 1.96 2.87
2016 8.67 6.55 -7.66 2.26 -8.43 9.45 3.35 -7.29 -1.31 -7.05 3.87 1.41 1.45
2015 4.13 -4.30 0.92 -2.68 -1.03 -3.75 2.28 -3.50 3.34 -8.09 3.91 -7.04 -15.57
2014 5.68 -0.99 0.01 0.75 -0.59 1.63 -5.21 4.69 6.65 -1.52 4.50 3.51 20.08
2013 -2.17 -2.03 4.02 -2.24 6.04 0.64 3.58 -1.83 -3.38 -5.68 7.13 4.14 7.53
2012 5.93 3.03 -2.45 -4.59 1.22 1.84 4.71
There is a substantial risk of loss in trading commodity futures, equities, options and off-exchange foreign currency products. Past performance is not indicative of future results.

Strategy Description

IIM utilizes the Systematic Hybrid trend following program across individual stocks and global futures markets. The strategy provides investors with an opportunity to capture trends that many models do not. The fund’s objective is to achieve exceptional absolute risk adjusted returns irrespective of the broad global equity indices. The systematic strategy employed makes no effort to forecast future market trends, but instead attempts to capture profits in these trends when and where they develop.

Return Statistics

Last Month 0.09%
Year To Date 28.10%
3 Month ROR 23.97%
12 Months ROR 33.32%
36 Month ROR 41.20%
Total Return Cumulative 149.40%
Total Return Annualized 8.03%
Best Month 11.86%
Winning Months (%) 61.97%
Gain Deviation 3.24

Risk Statistics

Standard Deviation Annualized 17.09%
Max Drawdown (Monthly) -26.03%
Max Drawdown Length 71
Worst Month -12.80%
Losing Months (%) 38.03%
Average Losing Month -4.09%
Loss Deviation 3.00
Correlation vs S&P 500 0.01
Correlation vs DJ/CS MF 0.71

Risk/Reward Statistics

Sharpe Ratio 0.54
Sortino Ratio 0.71
Omega Ratio 0.96
Skewness -0.08
Kurtosis 0.05

Performance (VAMI)

Fund Manager

 

Mr. Parkhill has over 25 years of management experience in the investment business.  He is a founding partner of systematic macro investment manager Incline Investment Management (IIM).  He is registered with the National Futures Association as a Principal and Associated Person of IIM.  Mr. Parkhill also provides strategic consulting services to hedge funds and financial service firms through Parkhill Financial, LLC.  He is also serves as an Adjunct Professor of business at Sierra Nevada College in Incline Village, NV.

Prior to IIM he was the director of marketing for Zazove Associates a multi-billion dollar quantitative convertible securities manager.  He was a senior marketing executive at John W. Henry & Company one of the original Commodity Trading Advisors.  He was also Managing Director of a small Commodity Trading Advisor in 2007.  Before joining the alternative investment space in 2001, Mr. Parkhill spent over ten years in various sales and marketing management roles in the mutual fund industry, notably with Ivy Mackenzie in the U.S. and with Investors Group in Canada.  He began his career as an investment analyst with Great-West Life.

Mr. Parkhill earned his MBA from Cornell University with concentrations in Finance and Marketing.  He received a B.A. in Economics from the University of Manitoba.  He holds his Series 3, 7, 30 and Series 66 licenses and has earned the CFP designation.  He is married with three children and resides in Crystal Bay, Nevada. Mr. Hurlbut is the CIO of Incline Investment Management (“IIM”)and in 2012 became a Principal and Associated Person of IIM. Until May of 2012 he served as the founder and managing member of Everett Capital Management, LLC. On April 25, 2006 Mr. Hurlbut became registered as a Principal and an Associated Person of his firm and an Associate Member of the NFA. At IIM his duties include head trader and portfolio manager for all investment programs including the firm’s proprietary Systematic Hybrid strategy. Mr. Hurlbut has also served as a portfolio manager at the Putney Financial Group, in San Rafael.

Prior to founding the Everett Capital, Mr. Hurlbut spent six years at Smith Barney in New York and San Francisco as a 2nd Vice President and Blue Chip Council Member. At Smith Barney, he covered middle market institutional accounts and managed discretionary portfolios for high net worth individuals. Mr. Hurlbut received a BA from the University of Virginia where he attended on a swimming scholarship. He is a Chartered Market Technician, member of the Market Technician Association, the CFA Institute and the Security Analysts of San Francisco.

Mr. Hurlbut has been fortunate to have been mentored by a few great traders throughout his career. He holds the Series 3, 7, 31, 63 and 65 FINRA licenses. He is married and has two children. He currently resides in Mill Valley, California and works in Incline Village, NV and Mill Valley, CA.

Distribution of Monthly Returns

12 Month Rolling ROR

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -26.03% 48 23 02/2015 12/2020
2 -17.80% 10 11 06/2022 02/2024
3 -10.79% 3 2 11/2021 03/2022
4 -10.54% 3 3 08/2013 01/2014
5 -8.05% 6 5 09/2012 07/2013

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 11.86%-12.80%0.77%0.71%0.09%61.97%
3 Months 27.99%-16.27%2.15%0.85%23.97%55.71%
6 Months 41.03%-16.12%3.80%2.42%24.79%57.66%
1 Year 48.91%-18.96%7.45%6.04%33.32%69.47%
2 Years 68.80%-19.45%15.54%11.23%17.08%74.79%
3 Years 90.16%-18.46%22.69%16.34%41.20%70.09%
5 Years 114.96%-17.28%33.34%17.92%113.07%79.52%

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg8.03%23.82%47.18%115.65%358.26%752.52%
% Positive61.97%55.71%57.66%69.47%74.79%70.09%
Avg. Pos. Period3.75%7.79%10.72%13.83%23.87%35.57%
Avg. Neg. Period-4.09%-4.95%-5.63%-7.08%-9.16%-7.50%
Sharpe Ratio0.540.871.231.892.432.77
Sortino Ratio0.711.472.514.928.7713.89
Standard Deviation4.93%8.58%10.66%13.67%22.20%28.33%
Downside Deviation3.13%4.24%4.52%4.66%5.34%4.88%

Up Capture vs. S&P 500 TR

Down Capture vs. S&P 500 TR

Drawdown

Volatility (12 Months Rolling)

Instruments

AUM

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