Katam Hill invests in generational companies. Businesses run by founders who own what they build, fueled by continuous innovation engines, that widen their competitive advantages. Our portfolios concentrate in those compounders by investing around the world, holding over a long-term horizon.
Management owns a substantial part of the business, often as the largest shareholder. Skin in the game changes how a company is run over a decade.
Large and growing total addressable markets, with global scale expansion at low incremental cost.
Internal research and development fuels new products and services — growth that is invented rather than acquired.
Custom-designed components lead to better services and make the product difficult to replicate.
An ecosystem of developers and partners creates added stickiness that benefits users.
Network effects can create sustainable competitive advantages and high switching costs.
Katam Hill is a registered investment adviser based in Los Angeles, 100% employee owned and founded in 2019 by Adam Gold. The firm manages accounts on a discretionary basis to invest in generational companies. The belief behind the firm’s founding is that public equities offer superior return potential versus other asset classes — and that a concentrated portfolio of securities, if held patiently, can compound capital for decades.
The companies in our portfolios are the select ones inventing what comes next, and the change they create rarely stays inside one sector. The firm targets the confluence of secular, structural, and cyclical shifts — the combinations that misprice businesses on both the long and short sides.
Long-term shifts that redraw an industry’s economics over a decade, not a quarter.
Changes in how an industry is built — supply chains, standards, and who captures the margin.
Near-term dislocations that misprice a durable business, on the long side or the short.
The difference is tax treatment and the use of leverage and short exposure — not the underlying work. Both hold a concentrated portfolio of ~20 positions, managed on a discretionary basis.
Long/short with margin. The full expression of the process — long the businesses compounding on innovation, short the ones it is displacing.
Long-only, built for retirement accounts. The same security selection, without leverage or short exposure.
Adam S. Gold is the Chief Investment Officer of Katam Hill LLC, which he founded in 2019 to invest in public securities with a singular belief: that security selection of generational companies can produce superior long-term returns for clients.
He has spent his career investing across the full-stack and every stage of the technology lifecycle. Before launching Katam Hill, Adam worked at Merrill Lynch in Century City. From 2012 to 2018, he was the Founder and General Partner of Espial Capital, a New York and Silicon Valley-based investment management firm. Prior to Espial, Adam was a portfolio manager at global growth investor Gilder Gagnon Howe & Co., a research analyst at Coatue Management, and a technology, media, and telecommunications analyst at EnTrust Capital, where he began his career in 2001 with an internship throughout college.
Adam graduated magna cum laude from New York University’s Stern School of Business with a B.S. in Finance and General Accounting and a minor in Journalism & Mass Communication. His philanthropic work was devoted to educating future innovators by improving their wellness and technical skills, such as learning to code at an early age.
He currently lives in Los Angeles with his wife and three children.
In addition to daily transparency, investors receive quarterly letters. These recaps work through the frameworks utilized to decide what is worth owning and what is disrupted. The firm shares these letters with prospective investors on request.
A model is not an agent. What turns capability into completed work is the scaffolding around it — and that is where the value accrues.
Five layers stand between electricity and intelligence — energy, chips, infrastructure, models, applications. Each one gates the layer above it.
Compute became strategic infrastructure. Nations began buying it the way they once bought refineries and fabs.
The firm submits its two composites’ monthly performance figures (gross and net results) to various third-party databases. These rankings below were created and provided by PSN Informa and Preqin. Sharing them does not imply Katam Hill’s endorsement or approval, and past performance is not indicative of future results. Each release below includes the corresponding performance definitions, disclosures, and GIPS composite report.
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Prospective InvestorMedia InquiriesInvesting in securities always involves the risk that you will lose money. Before investing in the securities markets, investors should be prepared to bear that risk. As with any investment strategy, there is no guarantee that the firm’s strategies will be successful. Katam Hill LLC makes no guarantees or promises that its security and market analysis will be accurate or that the investment strategies the firm uses will be successful. Statements made in this audio and/or video interview represent Katam Hill’s views at the time of the recording and opinions expressed herein are subject to change without notice. Securities referenced herein may currently be held or traded by Katam Hill LLC, its clients, or its representatives. Information contained herein is for educational and informational purposes only and should not be considered investment advice, a recommendation to buy or sell securities, or a solicitation, and does not take into account an individual’s or entity’s circumstances.
Investing in securities always involves the risk that you will lose money. Before investing in the securities markets, investors should be prepared to bear that risk. As with any investment strategy, there is no guarantee that the firm’s strategies will be successful. Katam Hill LLC makes no guarantees or promises that its security and market analysis will be accurate or that the investment strategies the firm uses will be successful. Statements made in this print interview represent Katam Hill’s views at the time of this interview and opinions expressed herein are subject to change without notice. Securities referenced herein may currently be held or traded by Katam Hill LLC, its clients, or its representatives. Information contained herein is for educational and informational purposes only and should not be considered investment advice, a recommendation to buy or sell securities, or a solicitation, and does not take into account an individual’s or entity’s circumstances.
The information contained in these third-party ranking releases is created and provided by third parties (PSN Informa and Preqin) and sharing this information does not imply endorsement or approval. While the firm believes the information to be reliable, it does not guarantee its accuracy or completeness and has not independently verified the information. Past performance is not indicative of future results. See the attached performance definitions and disclosure. Performance is presented gross of fees and expenses with PSN Informa. See the attached GIPS Composites Performance History for performance that is net of management fees and expenses. Preqin results are shown net of fees and expenses.