Opportunity Fund

The Fund employs a long/short investment strategy in an attempt to achieve capital appreciation and manage risk. The Fund takes long positions in securities Otter Creek believes to be undervalued and short positions in securities Otter Creek believes to be overvalued. The Fund’s objective is to provide long-term capital appreciation.


Average Annualized Performance

Data as of June 30, 2024
YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception
(December 30, 2013)
Otter Creek Long/Short Opportunity Fund – Institutional Class (OTTRX) 10.30% 17.92% 4.12% 6.89% 3.97% 4.85%
S&P 500 15.29% 24.56% 10.01% 15.05% 12.86% 12.99%
60/40 S&P 500 Equal Weight & Bloomberg Aggregate Bond Index 2.79% 8.17% 1.87% 6.76% 6.80% 7.15%
Average Annualized Performance is shown on a trailing quarterly basis.

Historical Performance by Month (OTTRX)

Data as of June 30, 2024
YEAR Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD S&P YTD

Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return 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. The current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month end may be obtained by calling 855-681-5261. Performance data quoted does not reflect the redemption fee. If reflected, total returns would be reduced.

The Fund's investment adviser has contractually agreed to waive a portion or all of its management fees and pay Fund expenses (excluding acquired fund fees and expenses (“AFFE”), interest, taxes, interest and dividend expense on securities sold short and extraordinary expenses) to cap the fees at 1.55% for the institutional class and 1.80% for the investor class until at least February 28, 2025. The expense ratios as per the prospectus were 2.22% gross and 2.06% net for the institutional class and 2.47% gross and 2.31% net for the investor class. The net expense ratios are applicable to investors. The expense ratios are based on the estimated amounts and may not reflect the actual expense ratios.

Growth of 10K

Growth of $10,000 Since Inception

This chart illustrates the performance of a hypothetical $10,000 investment made in the fund since inception on December 30, 2013. It assumes reinvestment of dividends and capital gains, but does not reflect the effect of any applicable sales charge or redemption fees. this chart does not imply any future performance.


Data as of June 30, 2024

Gross Delta Sector Exposure

Group Name Long % Short % Net % Gross %

Sector allocations are subject to change and are not a recommendation to buy or sell any security.

Position Level Risk Management

  • Invest in securities with a “margin of safety”
  • Assess liquidity risk in individual names
  • Monitor currency risk, economic risk, and country risk
  • A security that has a short interest greater than 20% will not be more than 1% of the fund
  • Any short position that moves against the portfolio by 25% in under six months is reduced by half if not completely eliminated

Portfolio Level Risk Management

  • Historically have used little or no leverage
  • Measure portfolio volatility as expressed by Value at Risk as well as its standard deviation and compare it to the S&P 500 index volatility
  • Within sectors, we manage exposure by limiting overall sector size and reviewing developments on a daily basis
  • Do not employ hedging strategies, however The Firm actively shorts individual securities in seeking profits and will use puts in conjunction with short equity to complement a short position when deemed appropriate

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