NinePointTwo Capital

NPT Research · Index

Ideas and research we find interesting.

Browse the library

§ 01 · Featured

Research primerMay 2026

The future of tax-efficient investing

What tax-aware long/short strategies are, how they work, when they make sense, and the cases in which they will not.

Read21 min read
EssayJun 2026

Our approach to tax-aware long/short

What Prism is, how the Max, Diversify, and Enhance configurations differ, and the situations each one fits.

Read7 min read

§ 02 · The library

14 entries
01ResourceGuide

Section 351 conversions, exchange funds, and tax-aware long/short

How the three structures compare as routes out of a large appreciated position, and the tradeoffs each carries.

Aug 20267 min read
02ResourceGuide

Working directly or through an advisor

Tax-aware long/short strategies typically reach investors through advisors and platforms. What a direct relationship with the manager changes.

Aug 20263 min read
03EssayIntroduction

A brief introduction to tax-aware investing

What tax-aware long/short strategies are, why they work, and the situations in which they may make sense. The place to begin if the topic is new.

Jul 202612 min read
04EssayFounders

The founder's tax problem

For most founders, the largest cost they will ever face is the capital gains tax on their equity. A strategy that pursues returns and diversification can begin preparing for it years ahead.

Jul 202610 min read
05ResourceStrategy

Tax-aware long/short equity

Long/short extension strategies from 130/30 to 250/150 that seek better after-tax returns for taxable investors.

Jul 20264 min read
06EssayOur strategies

Our approach to tax-aware long/short

What Prism is, how the Max, Diversify, and Enhance configurations differ, and the situations each one fits.

Jun 20267 min read
07EssayConcentrated positions

The concentrated stock dilemma

A single stock grows to dominate a family's net worth, and the conventional tools each solve only a piece of the problem. This essay covers an approach that addresses all of it.

Jun 202611 min read
08PrimerIn depth

The future of tax-efficient investing

The full research primer covers how tax-aware long/short works, when it makes sense, when it will not, and the research it rests on.

May 202621 min read
09EssayPE & VC professionals

Carried interest, taxes, and the rest of your balance sheet

Carry timelines are visible years in advance, yet the tax planning rarely starts until distributions arrive. Two problems follow from that, and one strategy can address both.

May 202610 min read
10ResourceStrategy

NinePointTwo Prism

Our tax-aware long/short strategy in three configurations. Max, Diversify, and Enhance each address a different investor need.

Jan 20265 min read

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