# SPYGLASS INVESTMENT MANAGEMENT

SPYGLASS INVESTMENT MANAGEMENT is an Asset Manager based in Terre Haute, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Terre Haute, United States
- **Region:** North America
- **Address:** Menlo Park, CA, United States
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** spyglassinvest.com
- **LinkedIn:** https://www.linkedin.com/company/spyglass-investment-management

## Regulatory record

- **CRD number:** 122594
- **SEC file number:** 801-133745
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/122594

## About

SPYGLASS INVESTMENT MANAGEMENT is an SEC-registered investment adviser in TERRE HAUTE, IN, registered since 2025. The firm manages $156 million in assets, $154 million on a discretionary basis. It has 3 employees and 3 investment advisers.

## Sectors

- Hedge Funds

## People

- Frank E. DeLano — Founder, Chief Investment Officer

## Questions

### Who makes investment decisions at Spyglass?

Founder and Chief Investment Officer Frank DeLano is the primary decision-maker. DeLano previously worked at Harvard Management Company for roughly a decade, where he helped manage equity and absolute-return portfolios under Jack Meyer. He has run Spyglass as a lean, centralized operation since its 2006 launch, supported by a small team of generalist analysts.

### How does Spyglass's Harvard Management Company heritage influence its operations?

The firm carries several structural imprints from HMC: a price-conscious, research-heavy approach to stock selection, a deliberately capped asset base to preserve agility, and a fee schedule that historically has been more LP-friendly than the standard two-and-twenty. This endowment model lineage also shows in Spyglass's preference for a single-partnership structure rather than launching multiple products to gather assets.

### Why does Spyglass limit its assets under management?

Spyglass deliberately caps its capital base to maintain access to mid-cap opportunities where larger funds cannot operate efficiently. By staying small — historically reported in the range of several hundred million dollars — DeLano can trade in $1–5 billion market-cap names without moving prices against his own positions. This capacity discipline is a direct structural differentiator in the hedge fund landscape.

### Does Spyglass participate in co-investment or side-vehicle structures?

No. The firm has consistently operated through a single core partnership since inception. Spyglass does not run separately managed accounts, co-investment vehicles, or offshore clones, which reflects founder Frank DeLano's preference for alignment and simplicity over product proliferation.

## Related profiles

- [Springdale Capital](https://altss.com/profile/springdale-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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