Family of Funds

In all, we've built and refined five separate funds. Below is a brief overview of each.


Rich Heritage Fund
Optimized for wealth preservation.


We believe that the best store for wealth is owning durable and timeless businesses. Especially those with wide moats, loyal customers, and iconic brands. So we developed a portfolio that includes one-of-a-kind brands and companies we think will be just as dominate two decades from now as they are today.


Rich Heritage is our premier strategy for wealth preservation.


Learn more about Rich Heritage Fund →


Top 10 Positions


  • Hermes (HESAY)

  • Nintendo (NTDOY)

  • Progressive Insurance (PGR)

  • Ferrari (RACE)

  • Birkenstock (BIRK)

  • TKO Group Holdings (TKO)

  • Churchill Downs (CHDN)

  • Brunello Cucinelli (BCUCY)

  • Texas Roadhouse (TXRH)

  • Apple (AAPL)


Maximum Positions: 25
Rebalanced: Annually
Reconstituted: Annually

Launched: January 1, 2021


Historical Performance

Durable Yield Fund

Optimized for income generation.


We believe a portion of everyone’s wealth should be generating income. So we developed a portfolio that includes private lenders, private equity funds, mortgage REITs (Real Estate Investment Trusts), and BDCs (Business Development Corporations).


The combined portfolio generates an annual yield of more than 10% and is completely liquid. It’s designed to appreciate from both top-line and bottom-line growth. All in a way that’s designed for maximum durability.


Durable Yield Fund is our premier strategy for income generation.


Learn more about Durable Yield Fund →


Current Yield: 13.49%


Top 10 Positions


  • Hercules Capital (HTGC)

  • Blue Owl Cap (OBDC)

  • FS KKR Cap (FSK)

  • Ares Capital (ARCC)

  • Main Street Capital (MAIN)

  • New Mountain Finance (NMFC)

  • Goldman Sachs BDC (GSBD)

  • Apollo Commercial Real Estate (ARI)

  • BlackRock TCP Capital (TCPC)

  • Ares Commercial Real Estate (ACRE)


Maximum Positions: 30
Rebalanced: Annually
Reconstituted: Annually

Launched: January 1, 2021


Historical Performance

Future Shape Fund

Optimized for long-term growth.


We spend an inordinate amount of time thinking about what the world will look 5- to 10-years from now. That includes studying the trends, forces, and foundational technologies shaping that future. So we developed a portfolio of companies building the hardware, software, and technologies of the future.


Future Shape Fund is designed to profit from the disruptive trends and technologies shaping our future.


Learn more about Future Shape Fund →


Top 5 Positions


  • Lam Research (LRCX)

  • Applied Materials (AMAT)

  • Duolingo (DUOL)

  • Shopify (SHOP)

  • Meta Platforms (META)


Maximum Positions: 20
Rebalanced: Quarterly
Reconstituted: Quarterly

Launched: January 1, 2023


Historical Performance

Future Shape Fund

We spend an inordinate amount of time thinking about what the world will look 5- to 10-years from now. That includes studying the trends, forces, and foundational technologies shaping that future. So we developed a portfolio of companies building the hardware, software, and technologies of the future.


Future Shape Fund is designed to profit from the disruptive trends and technologies shaping our future.


Top 5 Positions


  • Lam Research (LRCX)

  • Applied Materials (AMAT)

  • Duolingo (DUOL)

  • Shopify (SHOP)

  • Meta Platforms (META)


Annual Fee: 1.25%
Maximum Positions: 20
Rebalanced: Quarterly
Reconstituted: Quarterly

Launched: January 1, 2023

Learn more about Future Shape Fund →


Performance of Future Shape Fund

Compounder Fund

Invest in dominant companies.


We believe that the best long-term store of wealth is owning profitable, growing businesses. Especially those with a proven ability to dominate a niche, or niches, within attractive industries. So we built a portfolio of one-of-a-kind compounders that are buying and building their way to dominance.


Compounder Fund is our premier strategy for preserving and compounding your wealth.


Learn more about Compounders Fund →


Top 5 Positions


  • Berkshire Hathaway (BRK.B)

  • ASML Holding (ASML)

  • Transdigm (TDG)

  • APi Group (APG)

  • Illinois Tool Works (ITW)


Maximum Positions: 20
Rebalanced: Annually
Reconstituted: Annually

Launched: January 1, 2021


Historical Performance

Founder Fund

Invest in founder-led companies.


As entrepreneurs, we know there are few forces more powerful than a founder-led company. Public equity return data broadly supports the belief that founder-led companies consistently outperform their peers. So we built a small portfolio of exceptional founder-led companies we believe will dramatically outperform their competitors and their industry at large over time.


Founder Fund is our premier growth strategy designed to profit from the return premium generated by the best founders.


Learn more about Founders Fund →


Top 2 Positions


  • Airbnb (ABNB)

  • Duolingo (DUOL)


Maximum Positions: 10
Rebalanced: Quarterly
Reconstituted: Quarterly

Launched: January 1, 2023


Historical Performance

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Primal Funds is an investment firm purpose-built to create long-term value and bring common sense to wealth management. We believe in simple, entrepreneurial investing executed with discipline for decades.


Primal Funds is part of the Arcade Group alongside Ligature, Blackletter, and Wildside.


This website may contain forward-looking statements, which reflect Primal Funds' current views with respect to, among other things, Primal Funds' operations and performance. You can identify these forward-looking statements by the use of words such as “anticipate” “approximately,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “seek,” “should,” or “will,” or the negative version of these words or other comparable words. Forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Primal Funds undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.


The description of Primal Funds' investment process and strategy is intended to be representative, but may be changed from time to time by Primal Funds, and Primal Funds may alter the information at its discretion.


All investments contain risk and may lose value. Investing in securities and other financial instruments entails substantial risk, including the possible loss of principal. Investors should conduct their own analysis and consult with professional advisors prior to making any investment decisions. The investment opportunities discussed or referenced herein may not be suited for all investors, and potential investors must make an independent assessment of the appropriateness of any investment opportunity in light of their own objectives and circumstances, including the possible risk and benefits of entering into such an investment opportunity. References to other securities are not an offer to buy or sell. The information contained herein is not complete, may change and is subject to, and qualified in its entirely by, the more complete disclosures, risk factors and other information contained in offering materials. The information is furnished as of the date shown. No representation is made with respect to its completeness or timeliness. This information is not intended to be, nor shall it be construed as, investment advice or a recommendation of any kind. Certain information has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed.


Past performance is not a guarantee of future results.