It‘s not where we stand, but in what direction we are moving.

– Johann Wolfgang von Goethe

About Us

Co-Founded by Dr. Scott Ziegler in 2004, NewPath Capital, LLC is a boutique registered investment advisory firm focusing on the preservation of wealth against the erosion of the purchasing power of money.

Our portfolio is global and can be diversified across a range of different assets.

We do not employ a mechanistic approach to the allocation of capital around traditional asset classes but seek to build our portfolio purposefully and without regard to comparative practices while viewing its value in terms of the productive assets we control rather than the price such assets may command from time to time on a securities market. Our practice is intellectually honest, conservative, disciplined, respectful of capital and entirely free from conflicts of interest.

Scott Ziegler is the author of, “The Irreverent Capitalist”, a macroeconomic letter, formerly known as “Ad Hoc”. The letter is exclusively distributed to clients and select institutional firms. The market based commentary is designed to stimulate thinking on current macro topics.

Fund Overview

NewPath Value Fund, LP is a private partnership. NPVF is an absolute return, equity long/short fund which seeks investments in inefficient parts of the market.

The objective of the fund is capital appreciation.

  • However, It does not seek to match the performance of any index, especially if the risk are deemed too high. Progress in economies and capital markets is not linear but cyclical. Financial markets can go through long valuation cycles from over-to-undervaluation over time spans of 10-20 years. During a business and/or credit cycle the economy goes through different stages. The fund does comprehensive analysis of these trends to conclude where the economy

  • is in its business cycle and to locate specific ideas and asset classes that should rise and fall in value.

    When investing, we use a variation of long-term value and growth strategies. The firm primarily invests in value stocks of companies to make equity investments, as well as, investments in foreign exchange, warrants, and options. NPVF does have some degree of concentration in its investment

  • positions. The fund uses a proprietary risk summary that details assumed aggregate portfolio risk and individual position risk. The Partnership’s risk summary modeling is always deployed and studied before potential returns is calculated, hence all trades are considered in light of their expected risk relative to expected return.

Our Philosophy

At NewPath, we believe:

Global markets are inefficient. Inefficient markets create opportunities. Opportunities yield absolute returns.

  • Global markets are dynamic. Sometimes the shifts are seismic and other times they move the needle so little that you hardly know they’ve moved. At NewPath we believe that all of these movements are significant and when analyzed properly, have the potential to create inefficiencies and generate alpha.

    At NewPath we do not follow in the footsteps of others’ models, nor do we believe in efficient markets.

  • We believe in opportunities and inefficiencies in the global markets. NewPath uses a combination of long and short trading strategies, coupled with cash holdings, when appropriate, to generate alpha. Ours is a best-idea approach to investing, and while our tendency is to be in concentrated long positions, our mandate, research and skills give us the ability to adjust that position appropriately as the market warrants.

  • Our less-traveled research path triangulates intense, company-specific fundamental research with a focus on intrinsic value, macroeconomic trends and investor psychology. This methodology gives us an edge over more traditional research approaches. We manage overall risk by using both top-down and bottom-up analysis when building our positions.

Contact Us

NewPath Capital, LLC

100 Franklin Street, Alexandria, VA 22314

tel (571) 312-2172         fax (703) 960-0694

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