DUNN Capital Founded
Assets Under Management
In the Beginning
DUNN Capital was founded by William A. Dunn, PhD in 1974. Bill was a pioneer in applying quantitative techniques to financial markets and developing rules-based portfolio management. He was in uncharted territory at the time, breaking new ground in choosing to be strictly data-driven in his decision making and eliminating all subjectivity and emotion.
DUNN Capital has been led since 2007 by Martin Bergin, Bill’s long-time protégé and the President and Owner of the firm. Since taking the reins, Marty has reinvigorated the firm’s focus on research and technology and has cultivated a culture of continual improvement. During this new era, DUNN has assembled a talented R&D team of 6 professional researchers and has built a new simulation technology platform from scratch. These investments have been rewarded, with the team implementing two material sets of enhancements (and numerous smaller ones) into the firm’s flagship trend following strategy, addressing all three elements of trading: entry, risk control, and exit. The changes have been highly effective in improving the strategy’s robustness and risk-adjusted performance.
Today, DUNN manages over $1B in client assets worldwide. DUNN’s goal is to offer the best in class long term systematic program that performs in the widest range of market conditions possible while still maintaining a trend-following return profile. The firm remains committed to its core principals of keeping its incentives aligned with those of its clients, staying focused on systematic scientific processes and going where the data leads.
Martin H. Bergin
President and Owner
Martin H. Bergin is the President and Owner of DUNN. Mr. Bergin oversees all mission-critical operations of the firm, including the firm’s research and development efforts as well as the construction and management of the firm’s managed futures portfolios. Mr. Bergin, who has a deep background in finance and business management, joined DUNN in 1997 as Accounting Systems Manager, and was promoted to Vice President and Chief Financial Officer in 2001. He has been the firm President since 2007. In 2010, a business succession plan was put into place that gave Mr. Bergin partial ownership of the firm, with full ownership transferring in 2015. Mr. Bergin earned a B.S. in Business Administration from George Mason University in 1987. Prior to joining DUNN, he was a partner at a Northern Virginia CPA firm where he worked for 10 years managing audit, tax and consulting engagements for clients in the managed futures, banking and defense industries.
James R. Dailey
Chief Executive Officer
James R. Dailey is Chief Executive Officer of DUNN. Mr. Dailey has responsibilities in the areas of strategic planning, business and product development, client relations and financial reporting. Mr. Dailey joined DUNN in 2003 as a Financial Analyst and was promoted to Vice President of Finance in 2007, CFO in 2008 and CEO in 2016. He earned a B.S. in Business Administration from The Pennsylvania State University in 1994 and an MBA in Finance from the University of Maryland in 2000. Prior to joining DUNN, Mr. Dailey worked for Marriott International in Corporate Financial Planning and Analysis and spent several years in public accounting.
David A. Kauppi
Chief Financial Officer
David A. Kauppi is Chief Financial Officer at DUNN. Mr. Kauppi’s responsibilities include overseeing accounting for commodity pools and managed accounts, managing the firm’s compliance function and acting as DUNN’s liaison with regulatory agencies of the futures industry. He serves as a member of the National Futures Association’s CPO / CTA Advisory committee. Mr. Kauppi earned a B.S. in Business Administration from James Madison University in 1996 and has been a CPA since 1997. Mr. Kauppi worked in both public accounting and private industry before joining DUNN in 2001 as a Financial Analyst.
David E. Dreyer
David E. Dreyer is General Counsel at DUNN. David focuses on compliance issues applicable to commodity trading advisers and commodity pool operators as well as contracts, property and business issues. David earned a B.S. with honors in Accounting from Bob Jones University in 1987, after which he began his career as a CPA with Arthur Andersen. His J.D. (1993) and LL.M. in Taxation (1994) degrees are from the University of Florida. David practiced law with Jones Foster, Johnston & Stubbs, P.A. beginning in 1996 and was Board Certified in Wills, Trusts and Estates. In 2008, he left that firm as an equity shareholder to become General Counsel at Dunn Capital Management, LLC.
Daniel E. Dunn, M.D., Ph.D.
Daniel E. Dunn, M.D., Ph.D. is Vice President, Research at DUNN. Dr. Dunn focuses on the research of trading programs and risk-management methodologies. His background in medical research informs his application of scientific methods in the development of trading systems. Dr. Dunn joined DUNN as a Senior Associate in 1999 and was soon after promoted to Vice President, and then to Executive Vice President 2001. He has been Vice President, Research since 2007. Dr. Dunn earned a B.A. in Biological Sciences from the University of Virginia, Phi Beta Kappa, in 1982, a Ph.D. in Immunology from the University of Chicago in 1988 and an M.D. from the University of Chicago in 1990. Prior to joining DUNN, he trained, taught and conducted post-doctoral research at Stanford University, the National Institutes of Health and Johns Hopkins University and was named an Assistant Professor at the University of Utah.
Roberto Osorio, Ph.D.
Roberto Osorio, Ph.D. is Vice President, Trading Systems at DUNN. Dr. Osorio is involved in the development of new trading systems to diversify the firm’s portfolio and in the research of new risk-control tools. Dr. Osorio first worked at DUNN as Director of Research from 2006 to 2007. He rejoined DUNN in 2011 and was promoted to Vice President in 2015. Dr. Osorio earned a B.S. and a M.S. in Physics from the Federal University of Pernambuco in Recife, Brazil in 1975 and 1977, respectively. He earned a Ph.D. in Physics from the University of California at Berkeley in 1982. Prior to joining DUNN, Dr. Osorio worked as Associate Professor of Physics at the University of Brasilia from 1982 to 1989, as Senior Research Associate at the National Renewable Energy Laboratory (Golden, Colorado) from 1990 to 1992, and in Research at several equity quant funds from 1993 to 2005 and 2008 to 2010.
Stefan Wintner, is Vice President, Volatility Strategies at DUNN. Mr. Wintner researches and develops new trading systems, focusing on volatility as an asset class. He joined DUNN in 2017 in his current role. Mr. Wintner earned his MBA (Magister) from the University of Business Administration and Economics in Vienna, Austria in 2004 and is a CFA- and FRM-charter holder. Before joining DUNN, Mr. Wintner held several senior positions at boutique asset managers in Austria and Switzerland. His focus has been on systematic trading strategies and volatility trading since he started his career in the financial sector in 2004. His activities ranged from high frequency trading to long-term investing.
Christian Silva, Ph.D.
Senior Research Analyst
Christian Silva, Ph.D. is a Senior Research Analyst at DUNN. Dr. Silva works on trading algorithms and risk control. He joined DUNN in 2013 in his current role. Dr. Silva earned a B.S. in Physics from the University of Sao Paulo, Brazil in 1996, an M.S. in Physics from Portland State University in 1999, and a Ph.D. in Physics from the University of Maryland in 2005. Dr. Silva previously worked as a Research Associate at Evnine & Associates, LLP from 2005 to 2010 and most recently as a Quantitative Analyst at Ivory Investment Management, LP from 2011 to 2013.
James R. Curley
Executive Vice President
James R. Curley is Executive Vice President at DUNN. Mr. Curley joined DUNN in 2015 in his current position and is responsible for the firm’s global initiatives in product development and marketing. Mr. Curley earned a B.S. in Business Administration from Illinois State University in 1982. Mr. Curley has spent his entire 35-year business career working in managed futures, including management positions at Peavey Company, Heinold Asset Management, Geldermann Group, and Revolution Capital Management.
Jenny Kellams is Vice President, Business Development. She is primarily responsible for marketing and distribution of DUNN strategies to family offices and financial advisors. Ms. Kellams joined DUNN in 2011. She earned a B.S. in Business Administration from Pace University in 1999. Prior to joining DUNN, Ms. Kellams had a 12-year career in the securities industry as a financial advisor, owning her own investment management firm, JK Financial Group, from 2003 until she sold it in 2011.
Melissa L. Sprafkin
Melissa L. Sprafkin is Vice President, Investor Relations at DUNN. Her responsibilities include onboarding new accounts and managing and maintaining existing investor relationships. In addition, Ms. Sprafkin works on accounting and compliance reporting for DUNN’s commodity pools, and contributes in the firm’s business development efforts. Ms. Sprafkin joined DUNN as an Associate in 2010 and was promoted to Vice President in 2016. She received a B.S. in Organizational Management from Indian River State College in 2011. Ms. Sprafkin held various positions in the banking industry from 2004 through 2010, most recently at the Northern Trust Company.
Managing Director of DUNN Capital (Europe)
Niels Kaastrup-Larsen is Managing Director of DUNN Capital (Europe). DUNN Capital (Europe) is a Swiss entity with which DUNN has an exclusive consulting agreement to perform business development for DUNN’s programs in Europe. Mr. Kaastrup-Larsen has been in the managed futures business since 1990, holding management positions at several leading CTAs: GNI Fund Management, Chesapeake, Beach Capital and Rho Asset Management, the last two of which he co-founded. Mr. Kaastrup-Larsen is the founder and host of the world’s leading podcast within the hedge fund & CTA community, www.toptradersunplugged.com as well as the host of CME Group’s podcast on Managed Futures.