Glacier Peak's competitive edge is deep rooted in our people, patience and structure. Our goal is to deliver superior risk-adjusted investment returns to our partners. We have named Fortis Capital Management LLC as the investment manager to the Glacier Peak U.S. Value Fund. Fortis utilizes an opportunistic value and trend following approach to investing in publicly traded equities. The strategy implements a strict stop loss discipline to protect capital in volatile markets and participate in rising markets. This is the same approach that has driven our performance since our initial fund launched in 1991. Having a singular investment philosophy allows the team to work collaboratively to identify core investments that we feel are mispriced. We are not trying to be “all things to all people”. We understand that our investment approach is unique to the marketplace, but our partners trust that our focus and commitment will always be on doing our best to protect partner capital from permanent loss while providing steady long term compounding returns.