TCD Opportunity Fund

A concentrated portfolio of our highest conviction investment ideas

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483.7%

Cumulative Return Since Inception

15.2%

Annualized Return

20-35

Core Holdings

Fund Overview

A high-conviction approach to equity investing

The TCD Opportunity Fund is our flagship investment strategy, employing a concentrated approach to equity investing. We target 20-35 high-quality companies with sustainable competitive advantages that we believe are trading below their intrinsic value.

Investment Focus

Global equities across market capitalizations with 3-5 year investment horizon

Strategy

Concentrated portfolio of high-conviction ideas with active risk management

Performance

483.7% cumulative return since December 2013 inception

View Full Performance Download Fact Sheet

15.2%

Annualized Return

Our Investment Process

A disciplined approach to identifying and capitalizing on opportunities

Idea Generation

Our proprietary screening process analyzes over 5,000 global companies using quantitative and qualitative factors to identify potential investment candidates.

Valuation metrics (P/E, EV/EBITDA, FCF yield)
Quality indicators (ROIC, margins, balance sheet)
Growth potential (revenue, earnings, market share)

Due Diligence

Our team conducts 300+ hours of research per investment, including financial modeling, management meetings, and competitive analysis.

Detailed financial statement analysis
Management team evaluation
Industry and competitive positioning

Portfolio Construction

We build concentrated portfolios of 20-35 high-conviction ideas, with position sizes based on our confidence level and risk parameters.

3-5% positions for highest conviction ideas
Sector exposure limits (max 25%)
Portfolio stress testing

Portfolio Characteristics

Key attributes of our Opportunity Fund portfolio

Concentrated Positions

Typically 20-35 core holdings with position sizes of 3-5% for our highest conviction ideas

Global Diversification

Invested across North America (60%), Europe (25%), and Asia (15%) as of Q2 2025

Sector Allocation

Technology (30%), Healthcare (20%), Financials (15%), Consumer (15%), Industrials (12%), Other (8%)

Valuation Metrics

Portfolio P/E: 18.5x, FCF yield: 5.2%, ROIC: 22.3% (vs. benchmark 14.7%)

Performance Highlights

Consistent, long-term outperformance of market benchmarks

483.7%

Cumulative Return Since Inception (12/2013)

+210.9% vs. S&P 500

15.2%

Annualized Return Since Inception

+3.8% vs. Benchmark

0.76

Sharpe Ratio (5-Year)

Top Quartile Among Peers

84%

Positive Quarters

+32% More Consistent Than Benchmark

TCD Opportunity Fund

S&P 500 TR

Past performance is not indicative of future results. Please refer to our full disclosures for important information about performance reporting.

View Detailed Performance History

Team Expertise

Our Opportunity Fund is managed by seasoned investment professionals

CIO

Jonathan Michaels

Chief Investment Officer

25+ years investment experience

Leads the investment team and oversees portfolio construction. Former Portfolio Manager at Blackstone.

12.4%

Annualized Return Since Joining

Sarah Chen

Portfolio Manager

15+ years investment experience

Leads fundamental research efforts. Former equity analyst at Fidelity Investments.

18.7%

Annualized Return on Her Picks

Quant

David Park, PhD

Quantitative Strategist

10+ years quant experience

Develops proprietary models for stock screening and risk management.

0.82

Sharpe Ratio on Model Portfolio

Meet Our Full Investment Team

Invest With Confidence

Begin your investment journey with TCD Opportunity Fund

Download Materials

Access our fund prospectus, fact sheets, and recent performance reports

Fund Prospectus Fact Sheet

Speak With Our Team

Schedule a consultation with an investment specialist to discuss your needs

Call Us Schedule Meeting

Open An Account

Begin the onboarding process to become an investor in the Opportunity Fund

The TCD Opportunity Fund has a minimum investment requirement of $50,000. Please review the fund prospectus for complete details on investment terms, risks, and fees.

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