Spencer Hakimian

Founder and Chief Investment Officer of Tolou Capital Management

New York, NY

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Summary

From a standout young investor to the founder of a high-performing hedge fund, Spencer Hakimian has built a career defined by disciplined strategy, innovative thinking, and a global outlook. As founder and chief investment officer of Tolou Capital Management, he blends quantitative expertise with macroeconomic perspective, consistently delivering strong results while exploring the deeper historical and behavioral patterns that influence markets. His work reflects both professional precision and a lifelong curiosity about the forces shaping economic systems.

Hakimian’s investing journey began in middle school, when he grew a mock $100,000 portfolio into $220,000. This early success revealed his natural skill and sparked an enduring fascination with market dynamics. Rather than focusing solely on short-term data, he studied history and psychology, identifying patterns that repeat over decades. This approach—linking past cycles to present opportunities—remains a cornerstone of his investment strategy, giving him an edge in anticipating long-term market shifts.

In 2019, Hakimian launched Tolou Capital Management in New York with a mission to generate returns in any market environment. The firm employs a global macro, market-neutral, and risk-optimized approach, investing across equities, sovereign debt, gold, industrial commodities, fiat currencies, and cryptocurrencies. Its strategy prioritizes diversification and risk balance to safeguard capital while pursuing sustainable growth. Today, Tolou manages roughly $65 million in assets and has achieved equity growth exceeding 150% since inception, maintaining flexibility by operating without investor lockups.

Beyond managing capital, Hakimian is recognized for his ability to translate complex economic developments into clear, actionable insights. He has analyzed how trade policies, fiscal measures, and geopolitical shifts can impact competitive dynamics and financial stability. As host of the Forbes podcast “What’s Moving Your Money with Spencer Hakimian,” he examines how policy changes and global events influence investor sentiment, engaging both institutional and retail audiences.

Tolou’s performance record—cumulative returns approaching 300% with lower volatility than many comparable funds—has earned widespread respect. In 2025, Forbes named Spencer Hakimian to its 30 Under 30 in finance, highlighting him as a rising industry leader. Featured by Bloomberg, CNN, Reuters, Fox News, and The New York Times, he continues to champion a historically informed, globally diversified investment philosophy. The name Tolou, meaning “sunrise” in Farsi, symbolizes his belief in gradual yet transformative change, a vision central to his long-term market approach.

Experience

2019 Oct - Present