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An AI-driven fund.Lux runs a disciplined, model-driven book across the assets that define this cycle — AI, Bitcoin, energy, uranium and natural gas. Our engine reads macro and micro in real time and sizes conviction where the tape confirms it. This is our current positioning.

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Since 2020Track record

TenAsset classes

AI-drivenEngine

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Lux Network·

Lux Exchange·

Lux Finance

Indices · the reference tapeOwning the S&P 500 was the low bar.Total return of a liquid proxy per asset class over roughly the last five years — public buy-and-hold, the passive base case. Most of the complexes the fund tracks — the AI-power trade, the metals — left the index behind; a couple did not. That spread is the opportunity a real-time, rules-based book is built to capture. Lux runs an index per asset class (LUX-AI, LUX-NUC, …).

Nuclear power

+750%

AI · semis

+331%

Energy

+142%

Silver

+140%

Gold

+121%

Natural gas

+104%

Uranium

+92%

S&P 500base case

+66%

Bitcoin

+41%

Real estate

-8%

DeFi

-44%

Asset-class reference return · public buy-and-hold · ~5y to present · not Lux performance

Rotation · liveThe rotation, mapped.A relative rotation graph: relative-strength ratio on the horizontal, relative momentum on the vertical, both centered on the S&P 500 at 100. Every asset class is a dot with its trajectory — leading and weakening on the right, lagging and improving on the left. This is model output on real market data, not Lux performance.

PositioningRelative strength against momentum for every asset class versus the S&P 500 — the model’s read of what is leading, weakening, lagging and turning up.

Silvermom 102.7 · 3-mo -25.2%

Energymom 102.5 · 3-mo +5.3%

Bitcoinmom 102.2 · 3-mo -15.7%

book reference · live model loads in-browser

Relative rotation vs SPY · 6-month window · live from world.hanzo.ai

The bookPreferred portfolio, per asset class.Each sleeve is scored by the Lux rotation model against the S&P 500 over a 6-month daily window; holdings are weighted by conviction — relative momentum, quadrant and an oversold-base bonus. Open a fund for the model's preferred portfolio and performance.

LUX-AIAI8 holdings · top Microsoft

Core

mom 99.6 · 3-mo +14.6%

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LUX-BTCBitcoin5 holdings · top Coinbase

Core

mom 102.2 · 3-mo -15.7%

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LUX-DEFIDeFi4 holdings · top Aave

Core

mom 100.0 · 3-mo -1.3%

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LUX-GOLDGold4 holdings · top Gold trust

Core

mom 102.1 · 3-mo -18.8%

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LUX-SLVRSilver4 holdings · top Pan American

Accumulate

mom 102.7 · 3-mo -25.2%

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LUX-UUranium4 holdings · top Centrus

Core

mom 101.8 · 3-mo -24.9%

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LUX-REReal estate4 holdings · top Prologis

Core

mom 102.1 · 3-mo +2.4%

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LUX-NRGEnergy4 holdings · top Exxon

Core

mom 102.5 · 3-mo +5.3%

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LUX-NGNatural gas4 holdings · top Natgas producers

Core

mom 100.7 · 3-mo +1.8%

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LUX-NUCNuclear power4 holdings · top NuScale

Accumulate

mom 100.9 · 3-mo -13.8%

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Research · daily

Lux · positioning brief2026-07-21

Overweight the real-asset complex; patient on the AI leaders.The book leans into Silver, Energy, Bitcoin. The metals and the energy complex are accumulated from a base: down over three months but with relative momentum crossing back above trend — the coiled-spring setup the fund pays for. Bitcoin and real estate carry the risk-on core.On the AI sleeve the stance is core, not chase (momentum 99.6). The mega-caps that led the tape are rolling over into distribution even as the semis hold a large three-month gain; we hold quality and let the froth clear rather than press a topping trade.— Lux Macro. Model output on real market data, generated daily. Not investment advice.

ProcessHow the fund reads the tape.

01IngestGlobal market data, positioning, insider flow, on-chain and news stream into one model — macro and micro on the same surface.

02ScoreA relative-rotation engine ranks every asset class on strength and momentum, naming what is topping and what is basing.

03SizeConviction sets the book — accumulate what is turning up, hold what works, trim what rolls over.

04PublishPositioning and every rebalance are cross-validated against an open reference and published daily.

TeamWho runs it.

Zach KellingCo-founderBuilds the engine — the data plane and the model that reads macro and micro across every asset class in real time.

Cyrus PahlaviCo-founderSets the mandate and the book — capital strategy, allocation discipline, and the fund's relationships.

Issuer · on-chainDeFi-native, issued by Lux Industries Inc.Lux is built DeFi-native on the Lux Network — a post-quantum L1 — with the Lux exchange and issuance platform. Lux Industries Inc, a US entity, is the issuer of record. Index products are structured to be issued and listed on-chain within a compliant, US-based framework — offered only by definitive documents to eligible investors.

Lux Industries IncIssuer

United StatesJurisdiction

Lux Network · on-chainRails

Lux ExchangeVenue

Invest alongside the model.Lux accepts qualified investors by invitation. Request an allocation or book a call with the team.

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An AI-driven fund. Model-driven positioning across digital assets, metals, energy and equities, published daily. Issued by Lux Industries Inc.

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LegalDisclosuresRisk factorsTermsPrivacy

Lux Fund is operated by Lux Industries Inc. For qualified / accredited investors only. Nothing on this site is an offer to sell or a solicitation to buy any security, or investment advice; any securities offering is made only by definitive offering documents to eligible investors. Positioning is model output on real market data, updated daily; it is not a statement of fund holdings, an audited track record, or a performance guarantee. Reference returns shown are the public buy-and-hold return of a liquid proxy per asset class, not Lux performance. Past performance does not predict future results. Markets carry risk of loss.