Welcome to Typhon Capital Management, a registered CTA.

Leonidas Macro Fund

STRATEGY OVERVIEW

The Leonidas Macro Fund is a discretionary global macro strategy that analyzes global monetary and fiscal policy, specifically how they change (or how they might change given certain catalysts such as rate policy meetings) and analyzes a portfolio that is as outcome-agnostic as possible. The fund allocates to the Leonidas Energy Strategy and Leonidas Cryptocurrency Fund, which are also managed by Mr. Michalopoulos.

Leonidas attempts to express such catalysts through trades constructed with off-setting correlations while maintaining positive expected value on as many elements of that portfolio as possible.

RISK MANAGEMENT

Protection is a key element in generating returns – robust risk management is at the core of this protection. We believe that associated costs are more than compensated for in times of market stress, and the strategy  generates good positive returns in rising markets.

Risk is actively managed through strict risk budget limits at portfolio and individual metals levels, with drawdown limits.

ABOUT THE MANAGER

George Michalopolous – Portfolio Manager

George Michalopoulos joined Typhon in December 2016 as the head of the Leonidas Crypto, Energy, and Macro Group.

Prior to joining Typhon, Mr. Michalopoulos worked for Citadel Investment Group in London and Chicago from August of 2005 through March of 2011 where he held various roles, among them Portfolio Manager and as a Junior Trader for their crude oil portfolio-ultimately becoming the Director of Citadel’s sole speculative crude volatility business.

During his tenure at Citadel, Mr. Michalopoulos gained valuable skills and experience trading in the energy products, including Crude Oil, WTI, Brent, and Natural Gas.

Following his time at Citadel, Mr. Michalopoulos founded Empeopled, a social project to self-govern social media and create crowd-based decision making, in April of 2012 in Los Angeles, California and continues working on it today.

Mr. Michalopoulos graduated from The University of Chicago in June of 2005 with a B.A. in Economics and a 3.8 GPA. He was named to the Dean’s List from 2001 thru 2005 and was a Metcalf Fellow in 2004. Mr. Michalopoulos was elected Phi Beta Kappa in 2005.

PROGRAM INFORMATION

U.S. FUND TEAR SHEET

MACRO FUND TEAR SHEET

DECK

DECK

Data displayed on the Client Portal is an approximation of the overall gross valuations of the alternative investment vehicles operated by Typhon Capital Management. Data for Vulcan prior to June 2016 is from live proprietary trading pro forma for fees and commissions. Data displayed is from live trading accounts controlled by the firm net of commissions but gross of management and incentive fees and fund expenses. Please see each strategy’s one-page performance summary and disclosure documents for performance net of fees and accounting notes. Data may vary from those of client accounts due to variances in commission rates. The data displayed may not reflect trades executed by each vehicle’s respective investment manager and not yet received by the vehicle’s clearing firm and is delayed by at least five minutes. Any data displayed is for informational purposes only. Investment in any Typhon product is limited to Qualified Eligible Participants only. Past performance is not necessarily indicative of future returns.