--- title: terms description: top mark capital legal disclaimers --- [Go Back Up](https://topmarkcapital.com/disclaimer#top) [Skip to Content](https://topmarkcapital.com/disclaimer#body) [![Top Mark Capital](https://topmarkcapital.com/hs-fs/hubfs/1-Feb-25-2025-10-40-08-8582-PM.png?width=700&height=70&name=1-Feb-25-2025-10-40-08-8582-PM.png "Top Mark Capital")](https://topmarkcapital.com?hsLang=en) Toggle Menu - [Investor Login](https://seamless.formidium.com/#/login) [Investor Login](https://seamless.formidium.com/#/login) ### Important Disclosures #### **Performance Methodology – TMCP** Performance reflects a model portfolio assuming all capital was invested at inception (Q4 2012) and held continuously through Q2 2025. Results are presented net of fees, applying a 2% annual management fee and 20% performance allocation unless otherwise noted. For consistency, this methodology is applied across the full track record; however, actual historical fees were lower in certain earlier years. Returns are calculated on a time-weighted basis. Fund financials are audited annually beginning with the 2021 fiscal year; performance prior to 2021 is unaudited. Benchmark performance shown reflects reinvestment of dividends and is net of fees, but benchmarks are not directly comparable to the strategy and are provided for illustrative purposes only. Performance statistics are presented in a manner we believe is fair, consistent, and representative of long-term results. --- #### **Performance Methodology – TMHP** Performance reflects a model portfolio assuming all capital was invested at inception and held continuously through Q2 2025. Results are presented net of fees, applying a 2% annual management fee and 20% performance allocation unless otherwise noted. Returns are calculated on a time-weighted basis. Fund financials are audited annually. Benchmark performance shown reflects reinvestment of dividends and is net of fees, but benchmarks are not directly comparable to the strategy and are provided for illustrative purposes only. Performance statistics are presented in a manner we believe is fair, consistent, and representative of long-term results. --- #### **General Disclosures** Past performance is not indicative of future results. Investments involve risk, including the possible loss of capital. This material does not constitute an offer to sell or a solicitation to buy any security. Any such offering will be made only by means of a confidential offering memorandum and only to qualified investors. --- © Top Mark Capital Management. All rights reserved. 416 13th Street 2nd Floor San Diego, CA 92101 [Legal Notice](https://topmarkcapital.com/terms?hsLang=en) | [Privacy Policy](https://topmarkcapital.com/privacy?hsLang=en) *All investments involve risk including the loss of principal. Top Mark Capital Management LLC expressly disclaims any and all liability which may be based on information or estimates provided, errors therein or omissions therefrom, or in any other written or oral communication. *