Fund Objective

Tremblant Global ETF (the "Fund") seeks long-term capital appreciation.

Fund Description

The Fund seeks to identify investments in two categories: companies undergoing disruptive consequential change, and durable long-term growth businesses. The strategy aims to capture compelling growth in free cash flows that are often underappreciated by other market participants. Tremblant’s investment process utilizes a combination of business model assessment, financial model analysis, proprietary data science research, and deep industry knowledge. The CIO and four senior investment partners have all worked together for nearly 20 years resulting in a consistent and disciplined investment process. TOGA will generally hold 30-50 positions in developed markets, with an emphasis on large-mid cap companies.


NAV

-

As of

YTD NAV
Return

-

As of


NAV Change

-

As of

Expense
Ratio

0.69%

Key Facts

Data as of 4/30/24

Ticker TOGA
Net Assets (as of )
Inception Date 8/1/2022
CUSIP 56167N191
Exchange NYSE Arca
Management Style Active
Asset Class Global Equity
Benchmark MSCI World Index
Dividend Annual
Fund Management Tremblant Advisors
Expense Ratio 0.69%
Typical Number of Holdings 30-50
Shares Outstanding
Median 30-Day Bid/Ask Spread -

Media

Tremblant’s CIO Brett Barakett had the pleasure of joining Ted Seides on the Capital Allocators podcast. The episode covers a wide range of topics including Brett's background, the early days of Tremblant, our fundamental investing process, and the recent launch of the Tremblant Global ETF. (Source: Capital Allocators).

Brett Barakett, CIO, discusses TOGA’s investment philosophy and differentiated approach to fundamental research with Doug Yones of the NYSE.

Financial Times – Tremblant conversion marks growing hedge fund interest in ETFs (Source: FT)

Release date - May 3, 2024

Brett Barakett, CIO at Tremblant Capital, talks with Bloomberg's Erik Schatzker about Amazon.com Inc's $13.7 billion acquistion of Whole Foods Market Inc. and hat the deal means for U.K. online grocery delivery company Ocado. He speaks on Bloomberg Markets. (Source: Bloomberg)

Tremblant Capital CIO Brett Barakett discusses what technology acceleration means for the transition to online retail in the grocery business, and how this dynamic affects Amazon, Ocado, and the future of target marketing. He speaks with Erik Schatzker on Bloomberg Markets (Source: Bloomberg)

Performance

          Since Inception 8/1/22
  1 Mo. 3 Mo. YTD 1 Yr. Annualized Cumulative
NAV
Market Price
MSCI World
Month end returns as of: TBD
          Since Inception 8/1/22
  1 Mo. 3 Mo. YTD 1 Yr. Annualized Cumulative
NAV
Market Price
MSCI World
Quarter end returns as of: TBD

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for recent month-end is available above.

NAV is the sum of the Fund's assets less any liabilities, divided by the number of shares outstanding. Market Returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern Time, when the NAV is typically calculated for the Fund. Your return may differ if you trade shares at other times. Past performance does not guarantee future results.

Returns for less than one year are not annualized. Returns for periods of more than one year are annualized. Total return and value will vary and you may have a gain or loss when shares are sold. Returns include changes in share price and reinvestment of dividends and capital gains, if any. Shares are bought and sold at market price, not NAV, and are not individually redeemed from the Fund.

The Fund has adopted the performance history of the Predecessor Fund beginning August 1, 2022, which operated as a private fund using substantially similar investment strategies. The Predecessor Fund’s past performance, before and after taxes, does not necessarily indicate how the Fund will perform in the future.

The Fund is not managed to a benchmark. MSCI World Index (“MSCI”) information is provided for illustrative purposes only and is presented because Tremblant Capital feels that it serves as a useful point of comparison with aspects of the Fund's portfolio management and composition. There are significant differences between the Fund and the MSCI, including, but not limited to, risk profile, liquidity, volatility and asset composition. The performance of the MSCI may not be comparable to the Fund and should not be relied upon in making an investment decision. MSCI is a highly diversified index with over 1,000 constitutes while the Fund is highly concentrated with generally 30-50 investments.

Portfolio



Top Holdings

as of

Ticker Company Name Weighting

Download CSV

Sector Exposure

as of 4/30/24

  Weighting
Communication Services 24.87%
Consumer Discretionary 22.88%
Consumer Staples 9.73%
Financials 13.38%
Industrials 11.21%
Information Technology 11.80%
Materials 6.13%

Region Exposure

as of 4/30/24

  Weighting
United States 48.31%
Non-US 51.69%

Portfolio holdings and the resulting Sector and Region Exposures are subject to change and should not be considered investment advice or a recommendation to buy, sell or hold any particular security.

Portfolio Management

Brett Barakett is the Founder, Chairman, and Chief Investment Officer of Tremblant Capital, a global public equities investment firm. He is responsible for managing the firm’s investment process, overseeing risk management, and attracting, developing and retaining talent.

Prior to founding Tremblant Capital in 2001, Brett was a Portfolio Manager at Moore Capital Management, an Equity Analyst at Salomon Brothers, a Global Director at Reebok International, and a Brand Manager at Procter & Gamble. His background first as an operating manager and then as an investment manager played a critical role in shaping Tremblant’s investment approach and process.

Brett currently serves on the Advisory Board at the Ivey Business School at Western University, where he earned an undergraduate HBA (Honors Business Administration), and on the Board of Dean’s Advisors for the Harvard Business School, where he received his MBA.

Please click here to learn more about Tremblant Capital

Brett Barakett Headshot

Historical Premium/Discount

Closing Premium/Discount

 
Days at Premium
Days at Zero Premium/Discount
Days at Discount
 

Price

  As of 5/15/24
Market Price
Market Price Change
Median 30 Day Bid/Ask Spread
 

The Historical Premium/Discount chart shows the difference between the daily market price for shares of the Fund and the Fund's reported Net Asset Value (“NAV”). The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. EST). The vertical axis of the chart shows the premium or discount expressed in percentages of NAV. The horizontal axis indicates the trading days in the period covered by the chart. The data presented in the chart and table represent past performance and cannot be used to predict future results.

Before investing, please carefully consider the Fund’s investment objective, risks, charges, and expenses. This and other information are contained in the Fund’s prospectus and summary prospectus which should be read carefully before investing.

Investing involves risk including potential loss of principal. There can be no assurance that the Fund will achieve its’ investment objectives and it may be more volatile than broad market averages. The Fund also has other specific risks, which are described in the Prospectus.

The Fund is an ETF, which is a fund that trades like other publicly-traded securities. The Fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. As a result of the ETF structure, the Fund is exposed to additional trading and transactional risks, limited authorized participant risk, and risks associated with buying and selling shares. Brokerage commissions will reduce returns.

The Fund is an ETF, which is a fund that trades like other publicly-traded securities. The Fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. As a result of the ETF structure, the Fund is exposed to additional trading and transactional risks, limited authorized participant risk, and risks associated with buying and selling shares. Brokerage commissions will reduce returns. The Fund may invest in securities of foreign issuers whether or not they are traded in the United States or U.S. dollar denominated, and purchase and sell foreign currency on a spot basis. The Fund may invest in foreign securities of companies that are located in developing, emerging or frontier markets. Investing in securities of issuers located in these markets may pose greater risks not typically associated with investing in more established markets, such as increased risk of social, political and economic instability. The Fund is recently organized, giving prospective investors a limited track record on which to base their investment decision.

Tremblant Advisors LP, a subsidiary of Tremblant Capital LP, is the investment adviser to TOGA. Quasar Distributors, LLC, is the distributor.