argan opportunistic strategy · open for interest registrations
Seek: Full upside in risk markets + Target >60% annualized
the upside capture
The Opportunistic Strategy is a proposed, separately structured implementation of Argan’s investment process. If launched, it is intended to be housed in a separate Dutch FGR. Unlike the Argan Agentic Fund, this strategy is unconstrained in taking upside risk, but is more constrained on downside scenarios, a volatile skewed profile with higher returns than losses.
Uniquely, we express systematic macro strategies through investments in enterprises. Example: instead of expressing a view on the U.S. interest-rate curve through government bonds, we invest in the companies most sensitive to that macro movement. Unlike the flagship strategy, the opportunistic strategy is allowed to take unconstrained, full-conviction positions based on the macro engine. As with the flagship strategy, our system then looks at company fundamentals, selecting a group of tomorrow's exceptional companies, representing less than 2% of the global market. Starting with tomorrow's macroeconomics, followed by in-depth company intelligence.
We invest with our systematic proprietary Technology: NINA. Classical quant + agentic AI, built through over almost a decade of experience with systems managing more than EUR 34 bn.
classical quant + agentic ai
01
macro signal
starting with tomorrow's macroeconomics, the few enterprises that are a fit to the expected economy are chosen — unlike the flagship strategy, we take very high conviction bets on macro trends
02
company selection
from the first selection, our system drills down further to select only those companies with the best fundamentals
03
risk validation
we admit we may be wrong, so proper mechanics are in place to defend against unknown unknowns
04
portfolio construction
systematic macro, expressed through equities
05
continuous monitoring
reading the market and its drivers, continuously reassessing drivers of company performance
2018 – 2021
At NN Investment Partners, Reza led the development of computer-driven macro strategies powering cross-asset portfolios with over €34 billion in assets. This period taught him a crucial lesson: that robustness and interpretability matter more than complexity. NN Investment Partners was later acquired by Goldman Sachs.
2021 – 2024
At the family office of a prominent European family, with more than €4 billion AUM, Reza's learnings inspired the foundation of argan.ai. He set out to solve a challenge: build a strategy that protects capital in drawdowns and outperforms in rallies. With two core beliefs in mind: start with the macro first; combine classical quant systems with modern AI technology.
2024
After years of refinement and research, Reza rebuilt the next evolution of his strategy as a full-scale, independent investment firm that ran the flagship fund. A liquid, all-weather diversifier offering protection from long-only equity managers that crash during corrections, or market-neutral equity managers that lag during bull runs.
2026
The high-octane, high-conviction paper portfolio always ran alongside the flagship strategy for the owners of Argan Technologies. The owners have a high appetite for risk, with a long-term horizon, looking for the highest multiple possible in the next 10 years. Even the high-octane strategy completely avoided the 2025 three-month drawdown, and on proprietary capital in 2026 the March loss was exactly in line with expected volatility. April and May 2026 were the strategy's best months, outperforming their conservative estimations.
net return of the argan opportunistic strategy since inception
+48.82%as of , in eur · inception:
the objectives
The strategy aims for an extreme high return (>60% annualized) portfolio that captures the full upside opportunity in risk markets, very high return in bull markets.
Continuously monitoring up market beta vs down market sensitivity: unconstrained in taking upside risk, constrained on downside scenarios, accepting volatility but targeting higher returns than losses.
Lower beta only in lasting crises. The portfolio protects during prolonged endogenous market crashes with the same mechanism as the flagship strategy; in some economic regimes cross-asset hedges are added.
Targets ~ 60% returns annualized, capture more upside in risk markets than downside in lasting crises.
strategy live since 2026 · open for interest registrations
live since january 2026, outperforming the global market since inception
The fund that will unlock the strategy for external investors is yet to be set up. We work with a select group of eligible investors who share our vision. Leave your details and we can assess together if there's a fit.
open for interest registrations · same manager, same system · nina
The Jan–now 2026 figures are broker-account strategy returns adjusted for estimated First Partners Class fees and exclude administration fees. Figures are not a complete independently administered fund track record for the entire period.
No capital protection or return is guaranteed. Investors may lose all or part of their investment.
