Investor Summary

Russell Piazza co-founded Front Street Capital Management in 2006 and serves as President and Co-Manager of Portfolio Management. The management team has an average tenure of 9 years and includes experienced professionals dedicated to long-term wealth creation. Front Street Capital Management oversees approximately $500 million in total assets and applies unique qualitative criteria focused on businesses that demonstrate continuous improvement driven by stakeholder engagement, strong corporate culture, and exceptional management. The firm emphasizes alignment of interests by investing their own capital alongside clients in the same companies, demonstrating commitment to their investment philosophy.

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Fund Strategy

The Tarkio Fund pursues long-term capital growth by seeking to pay fair prices for outstanding businesses. The fund's investment philosophy centers on buying great companies exhibiting continuous improvement and stakeholder engagement, assuming that committed management can foster corporate cultures of excellence leading to sustained growth and profitability. The fund employs a disciplined bottom-up, fundamental approach to identify equity investments that satisfy quality and valuation standards, emphasizing integrity in management, long-term focus, teamwork, passion, employee empowerment, and disciplined capital allocation. The philosophy incorporates ESG principles and socially responsible investing, focusing on companies built on teamwork, trust, and continuous improvement.

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FUND PERFORMANCE AS OF 30th September 2025

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
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