Tyro Capital Management, LLC

Tyro Capital Management, LLC, established in 2015, specializes in investment management services for U.S. privately offered investment funds and separately managed accounts. The firm's three principals, Daniel HS McMurtrie, David (Alex) Draime, and Louis A. Parks, focus on preserving capital and achieving long-term, risk-adjusted capital appreciation through a fundamental investment process. The firm manages approximately $254,944,268 in net assets under management as of December 31, 2024, all on a discretionary basis. Tyro Capital Management charges a management fee ranging from 1.25% to 1.5% of a fund's net assets, with additional fees for expenses and performance-based fees of 15% to 20% of net profits. The firm may engage in various investment strategies, including trading US-listed securities and utilizing a variety of investment products. Clients must meet certain qualifications, including a minimum initial investment of $500,000 and subsequent investments of $100,000. Tyro Capital Management acts as a fiduciary, exercising investment discretion for its clients. The firm's brokerage practices involve selecting brokers for transactions and using soft dollars for research and brokerage services. Clients' funds and securities are held by independent custodians, and the firm exercises discretion in managing investments based on clients' objectives. Tyro Capital Management has adopted a Code of Ethics, policies for voting client securities, and procedures for managing risks and conflicts of interest.