Ault & Company

Ault Alliance, Inc. (NYSE American: AULT) is the publicly traded holding company through which Milton 'Todd' Ault III executes the investment strategy of Ault & Company. Ault & Company serves as the private investment entity, while Ault Alliance acts as the listed vehicle that consolidates many of the portfolio companies. This structure creates a public market funding mechanism alongside the private investment operations, meaning Ault Alliance's SEC filings provide direct visibility into portfolio holdings and capital moves that most private investment firms keep confidential.

The firm concentrates on digital infrastructure, with significant exposure to Bitcoin mining and data center operations through its BitNile subsidiary. It also maintains positions in defense and industrial technology via Gresham Worldwide, which manufactures power supply and electronic systems for military customers. A commercial real estate division holds hospitality assets. The firm has shown a willingness to pivot into turnaround situations where distressed assets in technology-adjacent sectors trade below replacement cost.

Ault & Company operates as an asset manager controlled by Todd Ault but with capital sourced through a publicly traded entity rather than a discrete family fortune. This makes it a hybrid: governance resembles a founder-controlled holding company, while the funding structure mimics a small-cap conglomerate. Institutional allocators would more accurately classify it as a publicly traded private equity firm than a traditional single-family office, given that outside shareholders participate in the portfolio economics through Ault Alliance stock.

Yes, indirectly. Ault Alliance raises capital through public equity offerings, convertible debt, and at-the-market programs. This gives the firm a continuous fundraising mechanism that does not depend on the traditional LP commitment cycles of blind-pool private equity funds. The firm has used these proceeds to fund acquisitions and working capital across its operating subsidiaries, blending features of a holding company with those of an investment manager.

Todd Ault previously worked in the broker-dealer industry and held roles at various investment firms before establishing the entity that became Ault & Company. He has served as Executive Chairman of Ault Alliance and has been the public face of the firm's investment thesis across shareholder communications. His investment track record is tied to the performance of Ault Alliance stock and the underlying portfolio companies rather than a traditional fund-by-fund private track record.