Principals

Managing members.

Five Stones is run directly by its two managing members.

Walter McDonald, Managing Member of Five Stones

Walter McDonald

Managing Member · Research & Trading Systems

Walter is the architect of the firm's quantitative stack. He built every layer in-house: the point-in-time market data infrastructure, the ensemble of machine-learning models that score direction, range, and regime, and the decision engine that governs them.

His background is in data science and machine learning.

Jake Fabry, Managing Member of Five Stones

Jake Fabry

Managing Member · Capital & Operations

Jake leads capital formation and the business of the firm. He has spent his career raising, deploying, and stewarding capital, building companies and the teams that run them, and he brings that discipline to every investor relationship Five Stones takes on.

An entrepreneur and author certified through Notre Dame's Transformational Leadership program, Jake oversees subscriptions, reporting, and firm operations, the side of the fund investors experience directly.

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