Investor Summary

Christopher Hillary has served as CEO and Portfolio Manager of Roubaix Capital since December 27, 2011, bringing extensive experience from positions at Independence Capital Asset Partners, Marsico Capital Management, and Morgan Stanley. Hillary holds degrees from Rutgers College and an MBA from the University of Colorado, providing strong educational foundation for fundamental equity analysis. Under his leadership since the fund's launch on May 7, 2015, the firm has grown to manage approximately $266.4 million across multiple client accounts as of June 2025. His management approach has delivered superior risk-adjusted returns, with the fund ranking in the top quartile of the Equity Long/Short sector with a 95.9% return over 10 years versus 24.8% average sector return. Hillary's track record demonstrates consistent ability to generate alpha through disciplined stock selection and risk management, delivering returns similar to the Russell 2000 but with approximately half the volatility.

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Fund Strategy

The Prosper Stars & Stripes Fund employs a fundamental long/short equity strategy focused on US small and mid-cap stocks with market capitalizations below $10 billion. The investment philosophy emphasizes rigorous risk management and disciplined stock selection as primary performance drivers, aiming to deliver compelling annualized returns with lower volatility than traditional equity strategies. The fund maintains approximately 40-50 long positions and 50-60 short positions across about 100 companies total, with net exposure typically ranging around 44-48%. The strategy focuses on identifying asymmetric risk/reward opportunities with upward potential greater than 20%, emphasizing fundamental analysis over momentum-based trading. Geographic exposure is primarily concentrated in United States equities, reflecting the manager's deep knowledge of North American small- and mid-cap markets.

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FUND PERFORMANCE AS OF 31st December 2025

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
10.3% 1.2% 9.9%