Frequently asked questions


As of October 2018, Cable Car Capital LLC no longer accepts new separately managed account clients. Cable Car manages a private investment partnership, The Funicular Fund, LP, which is available only to accredited investors. The FAQ below presently describe the old separate accounts structure. New FAQ are forthcoming.

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About Cable Car Capital LLC

Distribution

Fees and expenses

Individual investors

Institutional allocators

Managed accounts

Miscellaneous

About Cable Car Capital LLC

What is Cable Car Capital LLC?

Cable Car is a registered investment adviser founded by Jacob Ma-Weaver in 2013. Cable Car provides discretionary investment management services to individuals, businesses, and institutional investors through separately managed accounts. Please see about the firm for more details.

What are Cable Car’s qualifications?

Cable Car is registered as an investment adviser with the states of California and Texas. While registration does not imply a certain level of skill or training, it allows Cable Car to offer investment advice to the general public in exchange for compensation. Cable Car is also registered with the Commodity Futures Trading Commission as a Commodity Trading Advisor in connection with the accounts of qualified eligible persons

Jacob Ma-Weaver, founder and sole portfolio manager of Cable Car, has more than seven years of investment-related professional experience. He holds a BA in Comparative Literature & Society and Economics, cum laude, and an MA in Statistics from Columbia University. Prior to founding Cable Car, he worked in corporate, long-only, and long/short contexts. He is also a CFA charterholder. Further information about Jacob Ma-Weaver is available on the about the firm page and in Part 2B of the Form ADV brochure.

Does Cable Car manage a “hedge fund”?

No. Unlike a hedge fund, mutual fund, or other pooled vehicle, Cable Car’s client assets are held in separate accounts and are not commingled. However, like many investment firms that also manage pooled funds, Cable Car manages separate client accounts according to a common investment strategy. Cable Car’s investment strategy utilizes many of the same techniques employed by long/short equity hedge funds.

What is Cable Car’s investment strategy?

Cable Car provides a concentrated, hedged approach to value investing. Cable Car seeks to purchase securities when they are priced below intrinsic value and sell or short-sell securities that it believes are overvalued. Cable Car’s portfolio is composed of a small number of investment opportunities that it believes offer the most attractive trade-off between risk and potential returns. Cable Car arrives at its estimate of intrinsic value through rigorous fundamental research, including detailed financial and industry analysis.

Within these broad parameters, Cable Car implements company- and security-specific trading strategies and risk-management techniques designed to reduce exposure to broad market movements and identified risk factors. More information on the firm’s methods of analysis can be found in Item 8 of the Form ADV brochure and on the investment approach page of this website.

Prospective clients are encouraged to read recent commentary on the blog and contact the firm to learn more. Sample investment write-ups are available on request.

Why does Cable Car have a website?

As a registered investment adviser, Cable Car is not restricted from “holding out” its investment management services to the general public. The prohibition on advertising generally applies to funds that are offering limited partnership interests in pooled vehicles to sophisticated investors only. Cable Car values transparency and seeks to provide prospective investors with all information necessary to make an informed investment decision.

It is important that you read the disclaimer located on the bottom of this and every page on this website. Cable Car’s services are not suitable for everyone and can only be formally offered through a written investment advisory agreement.

Who can invest with Cable Car?

Cable Car’s services are available to most US individual investors, trusts, small businesses, corporations, pension plans, endowments, family offices, funds of funds, and other institutions. Cable Car’s custodian can support many account types including individual, joint, trust, qualified pension, IRA, and corporate accounts.

Cable Car may be able to accept clients residing or with primary place of business outside the United States, provided Cable Car may legally provide investment advice in the client’s jurisdiction. In some countries, Cable Car would be required to register with the securities authorities prior to soliciting clients. Cable Car’s services are not available to persons in those countries except in the event of a preexisting relationship or reverse solicitation. This website is not directed to persons in jurisdictions where Cable Car is not registered. Prospective clients from outside the United States should contact Cable Car for further details.

Cable Car’s investment strategy may not be suitable for all investors. Cable Car will first discuss your investment objectives and risk tolerance before beginning a new client relationship.

What is the significance of the firm’s name?

Cable Car is based in San Francisco, with offices on the Powell-Hyde cable car line, an iconic local landmark. Like a cable car traveling over steep hills, ascending at a measured pace and avoiding a precipitous descent, Cable Car aims to achieve absolute returns through both rising and declining markets.