Since its founding in Toronto in 2003, Anson Funds has focused on investing in company-specific situations where identifiable catalysts, such as corporate transactions or changes in capital allocation, can influence outcomes.
Led by Chairman and Chief Investment Officer Moez Kassam, the firm manages roughly US$2 billion across a combination of strategies, including long and short equity, special situations, structured financings, and real estate-related investments.
Real Estate Exposure and Consolidation Activity
Anson Funds’ positioning in Canadian apartment-focused REITs has been highlighted through established stakes in InterRent REIT and Minto Apartment REIT, which later became subject to take-private transactions. InterRent was acquired at a premium of roughly 35 percent to its prior trading level.
With new housing construction slowing and rental demand holding steady, this dynamic can support asset values for established operators. The firm has also taken a similar approach internationally through its largest investment to date, a 7.3 percent position (US$175 million) in the UK-based homebuilder Vistry Group.
Short Positions in Momentum-Driven Sectors
In contrast, short positions have been more difficult to maintain in sectors where valuations have been driven by long-term expectations rather than current fundamentals. Companies associated with emerging technologies have attracted significant attention, with share prices rising sharply over short periods.
The Anson Group’s short positions in Rigetti Computing and Oklo Inc. illustrate how quickly sentiment can affect pricing. In 2025, Rigetti rose approximately 238 percent, and Oklo gained about 45 percent, contributing to the firm closing its short positions and shifting exposure into a basket.
Shareholder Engagement and Activism
The Anson Group has also sought to increase its involvement with portfolio companies through direct engagement. These efforts are led by Sagar Gupta, who directs the firm’s activism strategies and concentrates on situations where operational or strategic changes may improve performance.
These processes typically begin with private discussions. In some cases, this has led to board representation or changes in leadership following periods of underperformance. These developments have often been followed by improvements in operating results with the goal of achieving share price performance, reinforcing the role of engagement within the firm’s strategy.
Additional Strategies Within the Platform
Alongside its core portfolio, the Anson Group operates a long-biased strategy called the Anson North Star Tactical Equity Fund, managed by Salman Malik. The strategy operates alongside the firm’s broader investment activities, drawing on shared research while maintaining its own focus.
A Consistent Approach Across Strategies
Across its portfolios, the Anson Group applies a consistent investment approach, whether through real estate positions, short exposure, or shareholder engagement. Its investments both in Canada and internationally remain focused on identifying specific opportunities in public markets through its multi-strategy approach.
