The LS Opportunity Fund is built on a simple premise: companies with sustainable competitive advantages tend to outperform over time, while lower-quality businesses often produce more volatile and less predictable outcomes.

The strategy reflects this through a concentrated long portfolio of high-quality companies, complemented by a diversified short portfolio of lower-quality businesses, with an emphasis on valuation. When stress hits, fragile companies often collapse fastest allowing the short side to potentially surge like embedded tail-risk hedge.

The Fund is sub-advised by Grantham, Mayo, Van Otterloo & Co., a globally recognized, research-driven firm founded in 1977. Known for its valuation discipline and independent thinking, GMO brings more than 22 years of long/short investing experience, positioning the strategy to capitalize on both opportunity and mispricing across changing market environments.

The investment process combines quantitative screening with fundamental analysis to identify high-quality companies with durable earnings, strong returns on capital, and attractive valuations. The long portfolio is built through a structured framework that narrows a broad global universe into a focused set of vetted ideas, which are then valued using a consistent discounted cash flow methodology and assembled into a diversified, high-conviction portfolio.

The strategy is complemented by a diversified short portfolio of lower-quality, more expensive companies, constructed primarily through a systematic, valuation-driven approach. Together, this results in a portfolio that is approximately 100% long and 40% short, designed to emphasize security selection while maintaining disciplined risk management.

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