Head of Portfolio Management
CraftPod — Miami / Remote-friendly • Reports to CEO • Full-time
About CraftPod
CraftPod is a FINRA-approved 721 exchange fund built on a fundamentally different qualifying asset: business jets. Investors with concentrated, low-basis equity positions contribute their stock tax-deferred in exchange for fund interests, gaining diversification, a 6% targeted annual yield (cash or flight credits), and access to a fleet of Bombardier Challenger 350s operated by Craft Aviation.
We're rebuilding the exchange fund category from the ground up — same tax mechanics the wirehouses have used for thirty years, but with a yield-bearing real asset instead of a passive equity sleeve, and with the operating tempo of a tech company rather than a trust department.
We've raised from individuals at Spark Capital, Kleiner Perkins, and Susa Ventures. Pod Securities (our broker-dealer subsidiary) handles placement. Cache, our nearest competitor, just crossed $300M AUM in roughly two years — and they don't have an aircraft yield product or a captive operator. The market is much larger than the existing players are pricing.
The Role
You will own the investment side of the fund. That means the contributed equity book, the hedging program, the diversification math, and the risk framework — the work that determines whether our investors actually get the outcomes the prospectus promises.
This is a senior, founder-team role with a small team and a large mandate. You'll partner directly with the CEO on portfolio decisions, with Pod Securities on placement, and with our administrators, auditors, and counsel on structure. As we grow into multiple funds and vintages, you'll build the team underneath you.
What You'll Own
- Portfolio construction. Every contribution is an underwrite: assessing the stock, sizing the position against fund concentration limits, and modeling the impact on the diversification test.
- Hedging program. We use prepaid equity collars (PECs) on positions like HOOD, RBLX, SHOP, and TSLA. You'll own the strategy — counterparty selection, tenor, strike, roll cadence — and the relationships with prime brokerage (currently UBS).
- Qualifying asset oversight. Coordinating with Craft Aviation on the aircraft sleeve to ensure ongoing satisfaction of the 80/20 test and the qualifying asset definition under §721.
- Risk and exposure reporting. Investor-facing exposure reports, internal risk dashboards, stress tests, and the framework for board and IC review.
- New vintage structuring. Designing successor pods and adjacent products (longer-dated vehicles, separately managed sleeves, 351 conversion paths).
- Investment Committee. Permanent member. Co-author of the IC memos and policy.
You're a Fit If
- 7+ years in concentrated equity solutions, exchange funds, or single-stock risk management at a top firm — Parametric / Eaton Vance, Goldman Sachs PWM, Morgan Stanley GIM, JPM Private Bank, Bernstein, BlackRock, or a peer.
- You've personally managed or co-managed an exchange fund, a 10b5-1 desk, a concentrated equity overlay program, or a similar mandate where the position-level decisions were yours.
- Fluency with §721, the 80/20 qualifying asset test, §351 mechanics, and the practical edges of step transaction and economic substance doctrine. You don't need to be a tax lawyer, but you need to read a PLR without flinching.
- Hands-on derivatives experience: collars, PECs, variable prepaid forwards, total return swaps, listed options. You know what a PEC actually costs to put on, not just what the term sheet says.
- A portfolio management track record you can defend with numbers. Realized vs. modeled tracking error, hedge cost in bps, drawdown behavior in '20, '22, '25.
- CFA strongly preferred. Series 7 / 65 / 66 a plus (or willingness to obtain).
Bonus Points
- Direct exposure to private aviation, real assets, or yield-overlay products.
- Experience standing up a fund family from scratch — successor vehicles, vintage closes, GP economics.
- Cap intro / advisor channel relationships, especially at RIAs and family offices serving founders and concentrated stockholders.
- You've shipped a quant tool that ended up replacing an Excel workbook your team used to fight over.
Compensation
- Competitive base, calibrated against your last seat.
- Performance bonus tied to AUM growth, hedge program P&L, and net realized investor outcome — uncapped on the upside.
- Meaningful equity in CraftPod with milestone vesting tied to AUM and fund performance.
- Carried interest participation in successor funds.
- Standard benefits, plus acc