Compared against all funds.
1Y return
+19.7%
94th pctile · ahead of most peersas of 2026-08-28
Since inception
not stated in filings
Distribution rate
not stated in filings
Net assets
$146.2M
as of 2026-08-28
Net expenses
1.6%
17th pctile · cheaper than median
Repurchase
not stated yet
Level 3
not stated yet
Last offer
Filled
40 offers on record · never prorated
What owning this fund costs per year
Hold period3 yrs
Net expense ratio (includes the 1% management fee)1.60%
Minus interest on borrowings, the cost of portfolio leverage0.04%
Minus incentive fees accrued this period, which vary with returns0.06%
Ongoing cost, determined from the filings1.50%
This fund's cost was corrected to 2.17% on review of its filings. A fuller explanation follows.
Sales load of 2% on the class this figure is for, spread over 3 years0.67%
Total drag per year2.17%
This is the cost for lLC Interests (single class; Members excluding the Manager).
Based on Six months ended June 30, 2026 (semi-annual report); the filing's ratios are already annualized ('Annualized' footnote c), so not annualized again. On.
This fund's cost was determined by reading its filings in full, because the figures in its expense table do not decompose cleanly. Parts were derived from dollar amounts the filing states.
Drag is the fixed cost of ownership: paid regardless of performance. The incentive terms (Performance Bonus equal to 1% of the Member's capital account balance at the end of the Measurement Period, payable only if appreciation (net of the bonus) exceeds a threshold return equal to an annualized 20% return on the opening capital account balance; $82,879 crystallized in the six months ende) apply only to returns earned. How this is calculated
Against all funds
Total drag
59th pctile · pricier than most
1Y return
94th pctile · ahead of most
Gray mark is the peer median. The drag comparison uses the same 3-year hold for every fund.
Every figure below was read from this fund's filing. Hover any number to see the sentence it came from. Figures cover Six months ended June 30, 2026 (semi-annual report); the filing's ratios are already annualized ('Annualized' footnote c), so not annualized again. Ongoing figure rests on the interim ratio (1.60% after Performance Bonus, 1.54% before) rather than the FY2025 annual ratio of 1.65%, because the interim period reflects the current, larger asset base; sales load taken from the offering memorandum's 2% maximum placement fee amortized over 3 years..
Open the filing on sec.gov (0001193125-26-095547)Size and leverage
Net assets$146.2M
Borrowings$970,000
Leveragedebt to equity0.01x
Asset coverage15170.80%
Investments held11
Started1999-04-01
What the manager charges
Management feeof net assets1.00%
Performance feePerformance Bonus equal to 1% of the Member's capital account balance at the end of the Measurement Period, payable only if appreciation in the capital account (net of any Performance Bonus) exceeds the Member's threshold return; $82,879 crystallized in the six months ended June 30, 2026 and none in FY2025.
Hurdle20.00%
Adviser is subsidising costsNo
Getting your money back
Repurchase offersDiscretionary tender offers; Manager expects to recommend repurchase offers twice each year, near mid-year and year-end
What it holds
Largest position13.05%
Top ten96.49%
MostlyTechnology-focused equity hedged (long/short equity) hedge funds
Who is involved
AdviserUBS Asset Management (Americas) LLC (acting through Unified Global Alternatives)
AuditorErnst & Young LLP
ValuedAs of the close of business at the end of each fiscal period, determined by the administrator under the oversight of the Manager (interests generally accepted monthly)
Independent valuation agentNo
Deals with affiliatesYes
Also worth knowing
- A Performance Bonus of $82,879 crystallized in the six months ended June 30, 2026 (none in 2025 or 2024) and was withdrawn by the Manager in the same period.
- The shared credit facility commitment available to the Fund was reduced from $25,000,000 to $12,000,000 and its termination date extended to June 15, 2027; $970,000 was outstanding at June 30, 2026.
- At June 30, 2026, $79,759,541, or 57% of the equity hedged investments, was subject to an investor-level gate and/or lock-up, including $9,219,873 (7%) not redeemable in full for another 6 months.
- Visium Balanced Fund, L.P. remains in liquidation and is carried at zero value; proceeds will be received periodically as the Investment Fund liquidates.
- Underlying hedge fund fee layer (not part of drag, reported separately): Management fees 1.00%-2.75% per annum of net assets and incentive fees/allocations of 20.00%-25.00% of net profits at the Investment Fund level percent (Investors bear a second layer of asset-based and performance fees inside the underlying funds; the Fund's own expense ratios explicitly exclude these, so the all-in cost of the fund-of-funds structure is materially higher than the reported ratio.)
- Expense ratios exclude underlying fund expenses and incentive allocations: Ratios do not include the impact of expenses and incentive allocations or incentive fees incurred by the underlying Investment Funds (Confirms the 1.60%/1.54% figures are fund-level only, so no acquired fund fee figure is disclosed and none can be computed from the filing.)
- Credit facility commitment fee: 52,094 USD for six months (45 basis points on the unused line) (The standing commitment fee on the shared credit line cost more than double the actual interest expense in the period and is an ongoing charge whether or not the Fund borrows, so it is treated as part of recurring drag rather than as interest.)
- No unfunded capital commitments: None as of June 30, 2026 (Removes contingent funding obligations from the liquidity picture; repurchase requests must still be met from Investment Fund redemptions or the credit line.)
- Withdrawal / redemption trend: $8,293,380 withdrawals payable at June 30, 2026, paid in full after period end; $16,647,879 of Members withdrawals in FY2025 and $13,145,657 in FY2024, with no subscriptions recorded in either year USD (The Fund is shrinking on a flow basis and growing only through performance; continued net withdrawals raise the expense ratio over time and force sales of the more liquid underlying funds.)
- Valuation basis of the entire portfolio: $141,054,352 valued using NAV as a practical expedient and excluded from the fair value hierarchy USD (100% of investments are carried at manager-supplied NAVs that the adviser cannot independently verify and that may be revised after audit, so reported NAV and the expense ratios computed on it carry estimation risk.)
- Portfolio turnover: 0 percent for the six months ended June 30, 2026 (8.34% in FY2025) (Very low turnover means the manager fee is being charged on a largely static allocation; there were no purchases of Investment Funds in the interim period, only $15,884,134 of redemptions.)
- No distributions intended: The Fund does not intend to make periodic distributions of net income or gains (Investors owe tax on their allocated share of income each year without receiving cash from the Fund, so the true after-tax cost of holding includes funding taxes from other sources.)
Fees
Liquidity terms
Valuation
Fair value determined byunchanged, 3 filingsAdviser as valuation designee
Structure
Every value links to the SEC filing it came from. A chip marks a change against the prior filing of the same type; hover a green-dotted value for what changed and why, as stated in the filing.
What the fund reported over time, each point sourced to its filing. Series deepen as older shareholder reports are read.
2024-06-302026-08-28
Each point is a value from one SEC filing, dated as reported. Hover a point for its value.
Net assets$146.2M
Total annual expenses, net of waiver1.6%
Total annual expenses, gross1.6%
Total return, 1 yearraised from 18.64% · Aug 202619.69%
Offer dateOfferedRequestedAcceptedSource
2026-04-16···SC TO-I
2025-10-28···SC TO-I/A
2025-04-17···SC TO-I/A
2024-10-28···SC TO-I/A
2024-04-18···SC TO-I/A
2023-10-27···SC TO-I/A
2023-04-18···SC TO-I
2022-10-31···SC TO-I/A
2022-04-18···SC TO-I/A
2021-10-15···SC TO-I/A
2021-04-30···SC TO-I/A
2020-10-16···SC TO-I/A
2020-04-16···SC TO-I/A
2019-10-17···SC TO-I/A
2019-04-16···SC TO-I
2018-10-17···SC TO-I/A
2018-04-16···SC TO-I
2017-10-17···SC TO-I
2017-04-14···SC TO-I/A
2016-10-17···SC TO-I
2016-04-15···SC TO-I/A
2015-10-16···SC TO-I/A
2015-04-16···SC TO-I/A
2014-10-17···SC TO-I/A
2014-04-16···SC TO-I/A
2013-10-17···SC TO-I
2013-04-16···SC TO-I
2012-10-17···SC TO-I/A
2012-04-16···SC TO-I/A
2011-10-17···SC TO-I/A
2011-04-20···SC TO-I/A
2010-10-22···SC TO-I/A
2010-04-20···SC TO-I/A
2009-10-22···SC TO-I/A
2009-05-21···SC TO-I
2008-12-18···SC TO-I/A
2008-06-20···SC TO-I/A
2007-12-21···SC TO-I
2007-06-22···SC TO-I/A
2006-12-20···SC TO-I/A
2026-08-28N-CSRSSemiannual shareholder report2026-03-20SC TO-IIssuer tender offer2026-03-19SC TO-I/AAmended issuer tender offer2026-03-06N-CSRAnnual shareholder report2026-03-06N-CENAnnual census of service providers2025-09-30SC TO-IIssuer tender offer2025-09-29SC TO-I/AAmended issuer tender offer2025-09-05N-CSRSSemiannual shareholder report2025-03-21SC TO-IIssuer tender offer2025-03-19SC TO-I/AAmended issuer tender offer2025-03-10N-CSRAnnual shareholder report2024-09-30SC TO-IIssuer tender offer2024-09-27SC TO-I/AAmended issuer tender offer2024-09-06N-CSRSSemiannual shareholder report2024-03-22SC TO-IIssuer tender offer2024-03-18SC TO-I/AAmended issuer tender offer2024-03-08N-CSRAnnual shareholder report2023-09-29SC TO-IIssuer tender offer2023-09-27SC TO-I/AAmended issuer tender offer2023-03-22SC TO-IIssuer tender offer2023-03-21SC TO-I/AAmended issuer tender offer2022-10-03SC TO-IIssuer tender offer2022-09-15SC TO-I/AAmended issuer tender offer2022-03-22SC TO-IIssuer tender offer2022-03-17SC TO-I/AAmended issuer tender offer2021-09-21SC TO-I/AAmended issuer tender offer2021-09-20SC TO-IIssuer tender offer2021-04-05SC TO-IIssuer tender offer2021-03-22SC TO-I/AAmended issuer tender offer2020-09-18SC TO-IIssuer tender offer2020-09-17SC TO-I/AAmended issuer tender offer2020-03-20SC TO-IIssuer tender offer2020-03-13SC TO-I/AAmended issuer tender offer2019-09-19SC TO-IIssuer tender offer2019-09-12SC TO-I/AAmended issuer tender offer2019-03-20SC TO-IIssuer tender offer2019-03-04SC TO-I/AAmended issuer tender offer2018-09-19SC TO-IIssuer tender offer2018-08-31SC TO-I/AAmended issuer tender offer2018-03-20SC TO-IIssuer tender offer2018-03-19SC TO-I/AAmended issuer tender offer2017-09-19SC TO-IIssuer tender offer2017-09-19SC TO-I/AAmended issuer tender offer2017-03-20SC TO-IIssuer tender offer2017-02-21SC TO-I/AAmended issuer tender offer2016-09-19SC TO-IIssuer tender offer2016-08-04SC TO-I/AAmended issuer tender offer2016-08-03SC TO-I/AAmended issuer tender offer2016-08-03SC TO-I/AAmended issuer tender offer2016-03-21SC TO-IIssuer tender offer2015-09-18SC TO-IIssuer tender offer2015-05-26SC TO-I/AAmended issuer tender offer2015-05-26SC TO-I/AAmended issuer tender offer2015-05-26SC TO-I/AAmended issuer tender offer2015-05-26SC TO-I/AAmended issuer tender offer2015-03-20SC TO-IIssuer tender offer2014-09-19SC TO-IIssuer tender offer2014-03-20SC TO-IIssuer tender offer2013-09-19SC TO-IIssuer tender offer2013-03-20SC TO-I/AAmended issuer tender offer2013-03-20SC TO-IIssuer tender offer2012-12-12SC TO-I/AAmended issuer tender offer2012-12-12SC TO-I/AAmended issuer tender offer2012-12-12SC TO-I/AAmended issuer tender offer2012-09-19SC TO-IIssuer tender offer2012-03-20SC TO-IIssuer tender offer2011-09-19SC TO-IIssuer tender offer2011-03-24SC TO-I/AAmended issuer tender offer2011-03-24SC TO-IIssuer tender offer2010-09-24SC TO-IIssuer tender offer2010-09-16SC TO-I/AAmended issuer tender offer2010-07-26SC TO-I/AAmended issuer tender offer2010-03-23SC TO-IIssuer tender offer2009-09-24SC TO-IIssuer tender offer2009-05-28SC TO-I/AAmended issuer tender offer2009-04-24SC TO-IIssuer tender offer2008-11-20SC TO-IIssuer tender offer2008-09-05SC TO-I/AAmended issuer tender offer2008-05-23SC TO-IIssuer tender offer2008-04-29SC TO-I/AAmended issuer tender offer2007-11-21SC TO-IIssuer tender offer2007-10-16SC TO-I/AAmended issuer tender offer2007-05-24SC TO-IIssuer tender offer2007-02-27SC TO-I/AAmended issuer tender offer2006-11-21SC TO-IIssuer tender offer2006-09-21SC TO-I/AAmended issuer tender offer2006-05-25SC TO-IIssuer tender offer2006-03-23SC TO-I/AAmended issuer tender offer2005-11-22SC TO-IIssuer tender offer2005-08-01SC TO-I/AAmended issuer tender offer2005-05-25SC TO-IIssuer tender offer2005-02-10SC TO-I/AAmended issuer tender offer2004-11-23SC TO-IIssuer tender offer2004-08-02SC TO-I/AAmended issuer tender offer2004-05-26SC TO-IIssuer tender offer2004-02-10SC TO-I/AAmended issuer tender offer2003-11-24SC TO-IIssuer tender offer2003-10-20SC TO-I/AAmended issuer tender offer2003-08-08SC TO-I/AAmended issuer tender offer2003-05-23SC TO-IIssuer tender offer
Request the six-factor report on A&Q Technology Fund LLC
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Data from public SEC filings. Argus is not a broker-dealer. Nothing here is an offer or investment advice. Every value shows the filing it came from and the date of that filing. Peer percentiles describe where a value sits in the comparison set, never fund quality. "Not stated in filings" is a fact about a document, never a verdict about this fund.