Since launch in April 2023 to date, we’ve generated +27% returns which is ahead of all comparable benchmarks. During this time frame, the Dow Jones is up +5%, S&P 500 is up +9% and Nasdaq is up +14%, of which AI hype propped up many companies on a primary or secondary basis. In general, 2023 has been one of the most painful market rallies for active managers. The Magnificent 7 “Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla” are up +61% vs the remaining 493 other stocks are