Alinea Capital Technologies

Returns driven by selection

Pulsar is a systematic global long/short equity strategy, trading liquid stocks across five markets.

Prepared for 3H Capital · Confidential · July 2026
The Strategy

One strategy, executed systematically

Pulsar is a quantitative long/short strategy trading liquid equities across the United States, Canada, Mexico, Australia and Germany. Proprietary algorithms generate signals daily over the entire eligible universe. The portfolio typically holds 80–120 long and 80–120 short positions with a typical holding period of 7–8 business days, targeting returns driven by selection rather than market direction.

MarketsUS · CA · MX · AU · DE
Signal generationDaily, full universe
Positions80–120 long / 80–120 short
Typical holding7–8 business days
Performance

Compound conviction

Track record, January 2023 through June 2026. Shown net of a 2% management fee and 20% performance fee. Toggle to view gross results.

+35.40%
Annualized return
Net of fees · 42 months
+188.9%
Cumulative
15.1%
Volatility, ann.
83%
Positive months
−10.13%
Max drawdown
Growth of 100 · Net of feesJan 2023 → Jun 2026

2026 shown through June. Net figures are pro-forma: 2% p.a. management fee deducted monthly, and 20% performance fee accrued monthly above a high water mark and paid quarterly. The 6% annual soft hurdle was exceeded in every period shown.

Investment Process

Four stages, one system

For each stock, the model first runs backward over the last month. If the prediction closely matches what actually happened, we trust the signal and extend it two weeks forward.

Actual price Backward prediction Forward prediction
Strong pattern match Forward prediction generated
01

Idea Generation

Proprietary algorithms identify signals from latent state transitions in market data, generated daily across the full eligible universe.

02

Evaluation

Every candidate position is subjected to historical backtesting and out-of-sample testing. All models are version-controlled for full traceability.

03

Portfolio Construction

Positions are sized by volatility-adjusted scaling, cross-position correlation models, and model-assigned conviction levels.

04

Risk Management

The book is monitored in real time. Exit rules are adaptive, responding to volatility shifts, idiosyncratic events and signal deterioration.

Risk Management

Structural limits, by design

Risk management is embedded in how the portfolio is built. Hard limits cap concentration at every level, and net exposure is held near zero, so results depend on selection, not market beta.

≤ 2%
Single name · % of NAV
≤ 25%
Single sector · % of NAV
≤ 20%
Single country ex-US · % of NAV
±10%
Net exposure target · ±20% limit
80–120
Longs and shorts, each
7–8 days
Typical holding · business days
Custody

An account in your name

An allocation to Pulsar runs through an account opened at UBS, titled to you. We believe this is the right structure for a first allocation: it removes custody risk from the relationship entirely.

Assets titled to you

The account at UBS is opened in your name or your entity's. Alinea receives trading authority only, with no ability to withdraw or transfer funds.

Independent custody and reporting

Positions, pricing and performance are held and reported by UBS. Verification comes from your custodian, not from us.

Full segregation and visibility

Your capital is never commingled. You retain direct, real-time visibility into the account at all times.

Streamlined onboarding

Account opening is coordinated through our existing UBS relationship, with our team supporting the process end to end.

Terms

Summary of terms

Management fee
2% p.a.
Performance fee
20%
Soft hurdle
6% annual
Accrual basis
High water mark
Minimum investment
USD $3,000,000
NAV reporting
Monthly