Apsis Capital Management LLC

Apsis Capital Management provides discretionary portfolio management through separately managed accounts primarily to qualified clients, trusts, estates, pooled vehicles, corporations and similar entities. The firm is a single-advisor practice—Wisun Kim is the founder, managing member and sole investment decision‑maker—and had roughly $4 million in regulatory assets under management across nine clients as of the most recent filing.

The firm follows a concentrated, long-term, global public-markets approach focused on long‑term capital appreciation, principally through common-stock positions; portfolios are long‑biased but the adviser may use long, short and cash positions based on bottom‑up analysis. ACM generally holds a limited number of core positions (typically up to about 20) and may have individual positions that represent a material share of a client’s portfolio (the brochure notes individual positions can be up to 33% at cost and may exceed that).

ACM’s ADV discloses a performance-based compensation arrangement—an annual 20% performance allocation on net profits above a 5% hurdle and subject to a high‑water mark—and the brochure discusses related conflicts and fee mechanics, including withdrawal of allocations from client accounts. The filing also highlights a requirement that clients generally use Interactive Brokers for custody and trade execution and that the managing member invests personal capital alongside clients; the combination of a small, single‑advisor firm, explicit performance-fee mechanics, and documented performance reporting is less common among independent advisers.