Cambrian Global Fund is a long-only fund that invests globally in publicly-traded equity securities, concentrating capital and research on 15-20 investments at any given time. The fund seeks to achieve capital appreciation through a focus on investment-grade-quality companies, generating predictable and reliable cash flows, and trading at highly compelling valuation multiples. The investment team focuses its research on a few hundred high-quality mid-cap industrial, consumer, and business service franchises with market capitalizations between $1 billion and $30 billion. Our approach to corporate valuation utilizes a bottom up approach to analyzing cash flow and earnings potential and we use constructive shareholder activism, where appropriate. The fund does not invest in options or futures. Monthly volatility may be above equity market volatility. The fund avoids leverage and typically has a long exposure range of 70%-100%.