Aquatic

Aquatic Capital Management runs a single fund family, the Argo Funds, and keeps a whole engineering function devoted to high-frequency execution beneath research that operates at medium frequency. The split is deliberate: signals found over days still have to be captured in microseconds.

Formed in Chicago in November 2018, the firm is controlled by trust vehicles tied to the family of founder Jonathan Graham, not private equity. It is registered as an investment adviser and commodity pool operator, trading systematically across equities, futures, and related markets using machine learning. Leadership pairs a head of quantitative strategies with a head of HFT execution technology, an unusual combination for a fund of its profile, and it keeps a deliberately low public footprint.