High conviction.
Low friction.

An actively managed, concentrated portfolio of 30–50 global companies, targeting disruptive change and durable long-term growth. Tremblant Capital, founded 2001, now in an ETF.

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0.69%
Expense Ratio
-
Total Assets
as of -
Aug 2022
Inception Date
30–50
Typical Holdings
1-Year Return (NAV)
-%
as of -
Annualized Since Inception
-%
8/1/2022 -
Cumulative Since Inception
-%
NAV basis · 8/1/2022 -
Performance is historical and does not guarantee future results.
The Fund adopted performance history of a predecessor private fund from 8/1/22.
TOGA · NYSE Arca · Active Equity ETF

"Tremblant ETF Makes Hedge Fund Equity Expertise Accessible To All"
— Forbes, Carrie McCabe

For twenty-five years, Tremblant Capital has managed a concentrated global equity strategy for institutions and family offices. TOGA makes that same conviction available to anyone with a brokerage account. TOGA invests in businesses where we believe we have a research edge over other market participants. These opportunities tend to be found most often within the mid-cap space.

25-Year Institutional Pedigree Actively Managed Exchange Listed
How We Think
Brett Barakett, Founder & CIO, Tremblant Capital
Brett Barakett
Founder & CIO, Tremblant Capital
How to Invest

Buy through your brokerage account

TOGA trades on NYSE Arca under ticker TOGA. Search for it at any major brokerage, with no minimums, no lockups, and no introduction required.

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Tremblant Global ETF is not responsible for content on other companies' websites.

Media

Featured Media

Tremblant Capital's Power Play→ FT Launch Article→ Launching an Active ETF: HBS Case→ Hedge Fund Equity Expertise Accessible to All→ Capital Allocators Podcast Highlights→ Market Movers: TOGA Interview→
Video Library
TOGA Overview
Overview
TOGA Overview
Investment Process
Process
Investment Process
Consumer Insights
Research
Consumer Insights
TKO Thesis
Thesis
TKO Thesis
What Makes a Great Investment? (Spotify)
Case Study
What Makes a Great Investment? (Spotify)
Cybersecurity Tailwinds
Sector
Cybersecurity Tailwinds
Decision Making Process
Process
Decision Making Process
Proprietary Research
Research
Proprietary Research
Tremblant Launch
History
Tremblant Launch
Operating Role Takeaways
Insight
Operating Role Takeaways
Invest for Kids 2025
Event
Invest for Kids 2025
Strategy

High Conviction

Security selection based on underlying business performance, specifically free cash flow growth that appears underappreciated by the market.
Business model assessment, financial modeling, proprietary data science, and deep industry knowledge, combined rather than siloed.
CIO and the senior partners have worked together for nearly 25 years. A consistent, disciplined process, not a rotating cast.
TOGA owns a unique set of investments. The portfolio does not hug benchmarks or rigid allocation criteria.
We manage with a long time horizon. Short-term dislocations create opportunity; most participants fail to see past the current quarter.
The CIO managing TOGA is heavily invested alongside outside investors. The same strategy, the same risk, the same upside.

Low Friction

Structured as an ETF, TOGA seeks to minimize taxable distributions relative to a traditional mutual fund through in-kind creation and redemption.
Shares can be purchased through any brokerage account with no investment minimum, unlike traditional separately managed accounts or private funds.
Holdings are disclosed daily, giving investors full visibility into portfolio positioning at all times.
Investors receive a standard 1099, not a K-1, simplifying tax reporting versus a limited partnership structure.
A single management fee, with no performance fee, no load, and no hidden layer of underlying expenses.
Shares trade intraday on a national exchange, offering liquidity and price transparency unavailable in private vehicles.
Security selection based on underlying fundamental business performance, with an emphasis on compelling growth in free cash flows that appear to be underappreciated by the market.
How to Invest | Learn about the strategy
Investment Process
A repeatable edge,
built over two decades
01
Fundamentals first
Security selection grounded in fundamental business performance, specifically compelling growth in free cash flows that appear underappreciated by the market. No benchmark-hugging, no rigid allocation criteria.
02
Proprietary process
Portfolio construction combines business model assessment, financial model analysis, proprietary data science research, and deep industry knowledge. The CIO and the senior partners have worked together for nearly 25 years.
03
Long horizon, full alignment
TOGA is managed with a long time horizon, since short-term market dislocations create opportunity. The CIO managing TOGA is heavily invested alongside outside investors. The same strategy, the same risk, the same upside.
Portfolio

Holdings & Exposure as of -

Top Holdings
Ticker Company Weight
↓ Download Full Holdings
Sector Exposure
Region Exposure

Holdings and exposures subject to change. Not investment advice. Data as of -.

Performance

Growth of a $10,000 Hypothetical Investment

Since inception 8/1/2022 · monthly

1 Mo. 3 Mo. YTD 1 Yr. Annualized
Since Inception 8/1/22 		Cumulative
Since Inception 8/1/22
NAV
Market Price
Morningstar Global Mid Cap Target Market Exposure Index

Month end returns as of: -

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for recent month-end is available above.

NAV is the sum of the Fund's assets less any liabilities, divided by the number of shares outstanding. Market Returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern Time, when the NAV is typically calculated for the Fund. Your return may differ if you trade shares at other times. Past performance does not guarantee future results.

Returns for less than one year are not annualized. Returns for periods of more than one year are annualized. Total return and value will vary and you may have a gain or loss when shares are sold. Returns include changes in share price and reinvestment of dividends and capital gains, if any. Shares are bought and sold at market price, not NAV, and are not individually redeemed from the Fund.

The Fund has adopted the performance history of the Predecessor Fund beginning August 1, 2022, which operated as a private fund using substantially similar investment strategies. The Predecessor Fund’s past performance, before and after taxes, does not necessarily indicate how the Fund will perform in the future.

The Fund is not managed to a benchmark. Morningstar Global Mid Cap Target Market Exposure Index information is provided for illustrative purposes only and is presented because Tremblant Capital feels that it serves as a useful point of comparison with aspects of the Fund's portfolio management and composition. There are significant differences between the Fund and the Morningstar Global Mid Cap Target Market Exposure Index, including, but not limited to, risk profile, liquidity, volatility and asset composition. The performance of the Morningstar Global Mid Cap Target Market Exposure Index may not be comparable to the Fund and should not be relied upon in making an investment decision. Morningstar Global Mid Cap Target Market Exposure Index is a highly diversified index with over 1,000 constitutes while the Fund is highly concentrated with generally 30-50 investments.

As of 5/8/26, Tremblant Global ETF benchmark has changed to Morningstar Global Mid Cap Target Market Exposure Index, which more closely represents the investment exposure sought by the fund.

Fund Facts

Key Facts

Ticker TOGA
Exchange NYSE Arca
Inception Date August 1, 2022
CUSIP 56167N191
Management Style Active
Asset Class Global Equity
Style Box Bias Mid-Cap
Expense Ratio 0.69%
Benchmark Morningstar Global Mid Cap Target Market Exposure Index
Typical Holdings 30–50
Dividend Annual
Fund Management Tremblant Advisors LP
Distributor Quasar Distributors, LLC
Fund Name Tremblant Global ETF
Premium / Discount

Historical Premium & Discount

As of -
NAV
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Market Price
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Difference
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Premium/Discount
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Historical Data
Number Of Days At
Premium:-
NAV:-
Discount:-
Days Within Percent Of NAV
% of Days ± 0.5% of NAV:-
Num. of Days ± 0.5% of NAV:

The Premium/Discount chart shows the difference between the daily market price of the Fund's shares and the Fund's net asset value ("NAV"). The daily market price is calculated using the mid-point between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm Eastern time). The vertical axis shows the premium or discount as a percentage of NAV. Past performance cannot be used to predict future results.

Fund Documents

Documents & Filings

PDF
Fact Sheet
Current
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PDF
Summary Prospectus
Current
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PDF
Statutory Prospectus
Current
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PDF
Statement of Additional Information
Current
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PDF
Form N-PX
Current
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PDF
Annual Report
12/31/2025
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PDF
Annual Financial Statements
12/31/2025
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PDF
Q3 Holdings
09/30/2025
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PDF
Semi-Annual Report
06/30/2025
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PDF
Semi-Annual Financial Statements
06/30/2025
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PDF
Q1 Holdings
03/31/2025
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