Malcolm Capital Management LLC

The firm is a recently formed, small portfolio management firm that offers discretionary separately managed account services to individuals, trusts, investment companies, and pension plans through two primary strategies: Tactical Asset Allocation and Tactical Income. It implements portfolios using exchange-traded products (ETPs/ETFs), U.S. Treasury securities, and money market funds and uses a client profile to assess suitability before recommending one or more strategies.

The investment approach is active and tactical, driven by technical analysis and frequent reallocations across asset classes to pursue total return while attempting to limit drawdowns. Strategies may include exposure to equities, bonds, currencies, commodities, bitcoin ETPs, and S&P 500 VIX futures (both long and short), and the firm offers a No K-1 variant of its Tactical Asset Allocation strategy that substitutes non-K-1 alternatives where feasible to address tax-reporting preferences.

What is noteworthy is the firm’s explicit use of relatively specialized and potentially volatile instruments (bitcoin-related ETPs, commodity exposures, and volatility futures) alongside a Tactical Income strategy that can be heavily concentrated in high-yield bond ETFs; portfolios are implemented exclusively via ETPs and Treasury instruments. The brochure also discloses a 2023 state regulatory denial of the principal’s registration and related proceedings (which the firm describes and contests), and the firm operates with a single investment professional and no assets under management as of the brochure date.