First Hedge Capital Management

First Hedge Capital Management provides discretionary portfolio management to individuals (primarily high‑net‑worth and accredited investors), trusts, estates, corporations and small businesses, and also acts as the investment adviser and sponsor to a private pooled investment vehicle. The firm operates as a small advisory practice with two advisors and manages roughly mid‑single‑digit millions of dollars across a limited number of client accounts.

The firm’s investment approach is technically driven and short‑term in orientation, with active use of equities, options and futures; strategy types disclosed include covered‑call writing, multi‑leg spread trading, short strangles and short index option positions. These strategies are implemented in both separately managed accounts and the pooled fund, with portfolio margining, frequent trade activity and a primary emphasis in the fund on S&P 500 index option spread constructions.

What distinguishes the firm from many peers is that it sponsors and advises a private pooled vehicle focused on options trading while retaining common ownership interests in that vehicle and limiting pooled investors largely to accredited participants (with only limited non‑accredited participation allowed). The firm also uses derivatives in separately managed accounts, offers performance‑based fee arrangements to qualified clients, and directs custody and execution through a single broker‑dealer/clearing custodian, concentrating its operational and execution arrangements.