Tax-aware long/short grows to $150+ billion AUM

A comprehensive estimate of net AUM

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Canvas (by Franklin Templeton) is hosting a welcome reception the evening before Basis Northwest 2026 at Aerlume Seattle.

Please RSVP so we know how much room we need.

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Following the conference, we’re going to the Mariners game against the Diamondbacks. You need a ticket to get in.

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David Lynch released Inland Empire in 2006. To promote it, he sat on a corner in LA with a cow and a giant poster. I remember this clearly. A friend and I drove to LA for the premiere. 3 hours of absurdity and an hour drive each way. What a night.

I’ve been tracing the history of the recent tax-aware long/short craze and AUM appears to be more than $150 billion, up from just a few billion 5 years ago.

Getting up to speed on tax-aware long/short? Start here.

The full data breakdown, by manager and year, from 2018 to present is below.