Blackworks Capital

Our Principles

What Defines Blackworks Capital

Systematic Discipline

When a security hits a pre-set maximum loss threshold, the algorithm sells — without hesitation, without committee approval, without negotiation. No human override exists. Every entry, exit, and hedge is governed by backtested, rules-based logic that executes the same way whether markets are calm or in freefall. That is the discipline most funds talk about but few actually enforce.

Radical Transparency

Every month, investors receive a letter explaining exactly which models fired, which strategies engaged, and why. When the system sits out a rally because signals don't confirm, we say so — and explain the logic. You speak directly with the Founder and Fund Manager, not a sales desk. Transparency is not a reporting feature. It is how we operate.

Partnership Alignment

The Founder's capital is invested in the Fund under identical terms, identical risk exposure, and identical drawdowns as every limited partner. No side pockets. No preferential redemption. Every loss an investor faces, the Founder faces alongside them. Alignment is not a talking point — it is a structural commitment built into the Fund from day one.

Our Leadership

Rogan McGillis

Founder & Fund Manager

Rogan McGillis founded Blackworks Capital on the conviction that systematic, rules-based logic consistently outperforms discretionary decision-making. With a background spanning quantitative analysis, portfolio management, and algorithmic strategy development, he designed the Multi-Factor Framework that drives the BWC Founders Fund.

His approach is rooted in a fundamental belief: that markets are driven by quantifiable forces, and that disciplined, objective systems capture opportunities that human emotion consistently misses. Every algorithm, every risk parameter, and every systematic decision within the Fund reflects this conviction.

As a co-investor in the Fund, his capital is invested alongside yours — providing the assurance that interests are fully aligned.

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Our Investment Framework

The Five Forces Driving Market Returns

Before the BWC Founders Fund accepted a single dollar of outside capital, the Founder built and invested the portfolio using his own. The framework behind it was designed from the conviction that no single factor explains market behavior — and that a truly systematic portfolio must integrate multiple independent forces into one unified, rules-based decision engine. These five forces guide every allocation, every hedge, and every risk decision inside the Fund.

Force 01

The Macroeconomic Imperative

Systematic analysis of macroeconomic data — interest rates, inflation, employment, and monetary policy signals — to identify the prevailing economic regime and its implications for asset allocation.

Force 02

Technical Price Action

Quantitative measurement of price trends, momentum, and mean reversion signals across multiple timeframes. Price action remains the most direct expression of aggregate market sentiment.

Force 03

Derivatives & Market Structure

Analysis of options flow, positioning data, and structural market mechanics — the invisible forces that create predictable pressure points in price action through gamma exposure and dealer hedging.

Force 04

Fundamental Valuations

Systematic evaluation of earnings, revenue growth, balance sheet quality, and valuation metrics — providing the fundamental anchor that validates or challenges signals from other forces.

Force 05

Sentiment & Behavioral Extremes

Quantification of fear, greed, and crowd behavior through sentiment indicators, positioning extremes, and volatility metrics — identifying the behavioral dislocations where systematic strategies generate asymmetric returns.

Replacing Emotion With Systematic Precision