ACT TWO INVESTORS LLC

Act Two Investors provides discretionary portfolio management and investment advice through separately managed accounts for individuals, retirement accounts, trusts and family offices. The firm states it principally invests in mutual funds, ETFs, equities and fixed income traded in U.S. markets and manages roughly $650 million in client assets.

Act Two typically tailors each account to the client-selected strategy and offers two defined approaches: a Focused Equity strategy (generally 12–16 individual issues when fully invested) and a Focused Balanced strategy (equities up to 70% of account value with the remainder in fixed income). The brochure also documents trading and account policies that allow margin and borrowing (e.g., trade-date accounting that does not deduct margin debt from quarter‑end values and references to borrowing/shorting capabilities).

The firm is run as a single supervised person — the founder supervises himself — while managing a relatively large book (about 306 clients and roughly $650M of AUM), producing an unusually high client and asset load per advisor for its peer group. The brochure notes several distinctive operational features: reliance on soft-dollar relationships and trade aggregation/rotation practices, a policy that clients retain proxy voting rights, and the absence of a stated standalone financial planning offering; the supplement also discloses the founder’s outside creative businesses.