If you’ve been scouring the internet for the "Adam Weiss hedge fund" lately, you're probably bumping into a whole lot of confusion. Honestly, it’s a bit of a mess out there. You see one headline about a massive multi-strategy firm shutting down and another about a guy selling a $65 million mansion in Hawaii.
Here is the thing: there are two very different "Weiss" stories in the hedge fund world right now.
Most people are actually looking for Adam Weiss, the co-founder of the legendary Scout Capital Management. He's the guy who basically stepped away from the professional rat race to manage his own wealth through Stillwater Investment Management. But if you just saw news about a "Weiss" fund collapsing in 2024 or 2025, that’s George Weiss of Weiss Multi-Strategy Advisers. Totally different guy. Totally different firm.
Adam Weiss is very much in the "retired but still active" phase of his life. After closing Scout Capital back in 2014—a move that shocked the industry because the firm was managing nearly $7 billion—he didn't just disappear. He moved to Palo Alto, launched Stillwater, and focused on a much more concentrated, personal way of investing.
The Scout Capital Legacy and the Pivot to Stillwater
You don't just walk away from $7 billion for no reason. When Adam Weiss and James Crichton decided to split up Scout Capital, it wasn't because of bad returns. It was because Weiss wanted a different lifestyle. He wanted to pick stocks without the headache of managing hundreds of employees and thousands of demanding LPs.
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Stillwater Investment Management was his answer. Launched around 2015, it was designed to be lean.
What the Stillwater Portfolio Looks Like
Unlike the giant multi-strat shops that buy everything under the sun, Weiss’s recent filings show a guy who still loves specific, high-conviction bets. We are talking about a portfolio that, as of late 2025, held significant positions in names like:
- Comcast Corp (CMCSA)
- Atlanta Braves Holdings (BATRK)
- Restaurant Brands International (QSR)
It’s a classic stock-picker’s list. He’s looking for value where others see boredom. For example, his interest in Atlanta Braves Holdings suggests a play on unique, irreplaceable assets—something he’s been known for since his early days.
Why Everyone is Talking About Alabama Now
If you follow the "celeb-finance" crossover news, you might have seen that Adam Weiss and his wife, Yellowstone actress Barret Swatek, made a massive life change recently. In 2025, they auctioned off their incredible Maui estate for about $28.5 million.
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They didn't move to NYC or London. They moved to Alabama.
Why? Because they had a daughter in 2024 and realized that living on a remote Hawaiian beach—no matter how beautiful—was too far from family. It’s a very human move. It also signals that while the Adam Weiss hedge fund name still carries weight on Wall Street, the man himself is prioritizing a quiet, family-centric life over the 24/7 grind of the Manhattan finance scene.
The Performance Reality
Is he still "crushing it"? Stillwater's AUM (Assets Under Management) is a fraction of what Scout used to be. We are talking hundreds of millions, not billions. But for a guy managing what is essentially a glorified family office with a few outside partners, the pressure is different.
Recent data suggests Stillwater has remained steady, often keeping a tight lid on volatility while the rest of the market went haywire during the 2024-2025 cycle. He’s not trying to be the next Ken Griffin. He’s trying to preserve and grow a legacy.
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What Most People Get Wrong
The biggest misconception is that Adam Weiss is "out of the game." He isn't. He's just playing a different game.
When you look at his 13F filings, you see a sophisticated strategy that mixes long-term equity holds with some quantitative components. It's sophisticated, but it's quiet. He isn't out there on CNBC every week pumping his positions.
How to Follow the "Adam Weiss" Strategy Today
If you’re trying to invest like Weiss, you have to understand his core philosophy: High Conviction.
- Ignore the Noise: Weiss walked away from billions in fees because he hated the "business" of hedge funds. He prefers the art of the trade.
- Concentrated Bets: Don't own 100 stocks. Own 10 that you know better than anyone else.
- Value in Assets: Look at the Atlanta Braves holding. That’s an asset play. It’s about owning things that can’t be easily replicated by a tech startup.
- Lifestyle First: He proves that you can be a top-tier financier and still choose to live in Birmingham, Alabama, if that's what makes your family happy.
If you want to track what he’s doing next, keep an eye on the SEC Form 13F filings for Stillwater Investment Management, L.P. They usually drop 45 days after the end of each quarter. That is the only real way to see where he's putting his money now that he's moved away from the spotlight.
The era of the $7 billion Scout Capital might be over, but the Adam Weiss way of investing—disciplined, concentrated, and intensely private—is very much alive.
Actionable Insights for Investors
- Monitor 13F Filings: Search for Stillwater Investment Management on the SEC EDGAR database to see their latest quarterly moves.
- Focus on Irreplaceable Assets: Research "owner-operator" stocks or companies with "moats" like professional sports franchises or infrastructure.
- Size Your Positions: If you have high conviction in a company like Restaurant Brands International, don't be afraid to make it a top-five holding in your personal portfolio, provided you've done the deep-dive research Weiss is known for.