Corbex Funds Management
Arbiter Fund
Closed family fundFounder and affiliated family capital
Arbiter is Corbex’s systematic US equity strategy. We research, execute and monitor it daily.
How Arbiter works
Clear rules for how the portfolio evolves.
Arbiter brings company research and market conditions together in one systematic process. It looks for strong businesses with supportive earnings and market evidence, builds a focused portfolio from the highest-ranked opportunities, and responds when risk begins to spread. The rules are clear and repeatable, and we review every proposed portfolio change before any broker action.
- Refresh the evidence
- Update measures of business quality, earnings strength, valuation, price behavior, and market risk as new information becomes available.
- Rank the opportunities
- Compare eligible US-listed companies from several complementary perspectives. Give capital to opportunities where independent measures point in the same direction.
- Update the portfolio
- Retain, replace, or resize holdings when the evidence changes. Keep the portfolio focused and apply clear limits to position size, concentration, and defensive exposure.
Respond as conditions change. During normal markets, a dedicated allocation remains in short-term Treasuries. When weakness becomes broad across the portfolio, it can move to a limited position against the Nasdaq-100. As conditions improve, it returns to Treasuries. Every proposed change remains subject to manager review.
Performance measures
Historical simulation, not live fund performance.
2018-01-09 through 2026-08-04
Annualized return measures compound growth; Sharpe compares return with variability. Maximum drawdown is the largest peak-to-trough decline; maximum underwater is the longest time below a previous peak.
Reproduced from a frozen daily series and release manifest. Evidence through 2026-08-04. Assumptions: Market-on-open portfolio rebalance timing; 10 basis points per unit of turnover; 75 basis points annualized for modeled ETF borrow exposure. Sharpe ratios use a 0% risk-free rate. Annualized return compounds at 252 trading sessions per year. Sortino downside deviation uses a 0% target averaged over all sessions.
Historical simulation - frozen and reproducible
Growth of $1
Arbiter $12.46 | NASDAQ-100 Index Proxy $4.70
Scroll horizontally to explore the full chart.
Further reading
Choose the level of detail you need.
- Investment philosophy
- Why the strategy combines company selection, market defense, and recovery.
- Fact sheet
- A concise, printable strategy reference.
- Technical white paper
- Research architecture, model methodology, and validation.
- Account reporting
- Live fund reports remain private. Brokerage records support monitoring and reconciliation.
- Management
- Developed and managed by KC.
Connected U.S. market data
A deep U.S. dataset. Built for strategy research.
100 TB+ of historical trades and quotes processed. Options data and derived Greeks, plus proprietary features across options, equity fundamentals, prices and macro.
Equities & market history
Prices, volume, dividends and corporate actions put stock behavior in context.
Company fundamentals
Growth, cash flow, profitability and valuation help examine business quality and price.
ETFs & market flows
Sector, industry and cross-asset relationships reveal where market activity is shifting.
Macro, rates & credit
Economic conditions, rates and liquidity help test how a thesis behaves across environments.
Trades, quotes & microstructure
Spreads, liquidity, order imbalance and trading-flow features add detail beneath daily prices.
Options data & derived Greeks
Options data, derived Greeks and proprietary features reveal signals beyond equity prices.
Established market sources
- NYSE, Nasdaq & NMS
- Trading activity, prices and quotes
- Issuers, SEC filings & fund sponsors
- Fundamentals, earnings, filings and fund information
- Brokerage analysts & publishers
- Ratings, estimates and market context
- FRED, U.S. Treasury & Cboe
- Economic data, rates and volatility indexes
These sources feed our FinDL data lake: more than 20 datasets, loaded and checked every NYSE session.
View the data lake statusHow the data and strategy building blocks fit together
Data Algebra prepares historical evidence: selecting observations, aligning dates and calculating features. Strategy Algebra assembles rules for selection, holding, replacement and allocation.
AI agents coordinate these steps within an approved research plan and explain the outcome. Discovery explores a defined family of combinations; the plan sets the scope, and the manager approves each order basket before broker submission.
Questions, answered
Questions and answers.
Corbex runs systematic strategies on the founder’s family capital account. These answers cover how strategies are found, reviewed and reported.
Does Corbex accept outside capital?
No. Closed fund. Not accepting outside capital. Corbex manages the founder’s family capital account, and nothing on this site is an offer or a solicitation.
What is a strategy?
A strategy is a distinct set of backtested rules. Its signals and scoring method determine how stocks are ranked, selected and managed within risk limits.
The rules guide recurring decisions; holdings change as new data affects the rankings and risk limits.
How are strategies discovered?
Within an approved research plan, agents examine relevant market data, search for signals, build portfolio-rule variations and backtest them together.
Candidates are compared on returns, drawdowns, volatility, risk-adjusted statistics and benchmark comparisons. Their evidence, weaknesses and tradeoffs are reviewed before a strategy is deployed.
How does a strategy reach the market?
The review frequency is part of each strategy and its backtest. At each review, the rules are applied to current data to produce a target portfolio.
The manager reviews the order basket before broker submission; the account is then reconciled and monitored daily.
How should I read a backtest?
A backtest applies a strategy’s rules to historical data. It shows how the rules would have behaved, including returns, drawdowns, volatility and benchmark comparisons, not the results of actual trading.
Past performance is not indicative of future results.
Disclosure and important information
Arbiter is a closed family fund currently focused on the Founder's and affiliated family capital. No interests are offered and no capital is solicited on this site. Nothing on this site constitutes SEC registration, review, approval, or endorsement.
- Concentrated equity: Company, factor, and sector losses can be amplified.
- Model and data: Inputs, models, and market relationships can degrade or fail.
- Short exposure: The defensive sleeve can lose money or fail to offset long-book losses.
- Market regime: New regimes can differ materially from the research record.
- Execution and liquidity: Actual fills, financing, borrow, and liquidity can differ from assumptions.
- Historical simulation: Selection and reused windows can overstate robustness and do not represent investor performance.
Arbiter is a concentrated systematic equity strategy and can incur substantial loss. Model, data, execution, liquidity, short-exposure, market-regime, and implementation risks can cause actual outcomes to differ materially from research. Arbiter performance shown in this release is a historical simulation, frozen and reproducible directly from the daily return series and release manifest; it is not actual client performance and has not been independently audited or approved by a regulator. Benchmark means the QQQ ETF used as a total-return proxy (dividends reinvested) for the Nasdaq-100; QQQ is not the index itself. Arbiter's simulated returns exclude dividends on its long holdings while the benchmark includes them; the methodologies differ in this respect. Simulated results have inherent limitations. Past performance does not guarantee future results. We research, execute and monitor Arbiter daily. Account monitoring does not establish live validation of the strategy. Arbiter is currently focused on the Founder's and affiliated family capital; nothing in this release is an offer to sell or a solicitation of an offer to buy any security.