The Capital Defense Funds, LLC (CDF) is a uniquely structured firm. We are a Registered Investment Advisor that employs an opportunistic long/short equity trading strategy to provide absolute returns with minimal risk for individual tax exempt accounts. The fund employs no leverage, futures, or options strategies and trades almost exclusively in liquid US securities. Management tries to find the most timely, low risk long/short ideas from internal screens and outside sources including portfolio manager contacts, Wall Street Analysts, and original research. Purchases of initial public offerings can be used to enhance returns. All clients are provided access to real time transparency for their portfolios. The primary portfolio manager and founding member, Richard Kane, has managed portfolios in this manner since 1991.