Is Vision Capital Fund’s Investment Thesis for The Trade Desk (TTD) Aligned with The CEO’s Strategy?

Group 1: Vision Capital Fund Performance - Vision Capital Fund reported a net return of +15.6% year-to-date (YTD) for Q3 2025, outperforming the S&P 500's +14.8% for the same period [1] - Since its inception on October 1, 2024, the fund has achieved a cumulative return of +27.8% net, compared to +17.6% for the S&P 500 [1] Group 2: The Trade Desk, Inc. Overview - The Trade Desk, Inc. (NASDAQ:TTD) is a leading independent programmatic digital advertising demand-side platform, focusing on ad buyers outside the major platforms like Meta, Google, and Amazon [3] - The Trade Desk's stock experienced a one-month return of -10.97% and a significant decline of 70.34% over the past 52 weeks, closing at $39.35 per share with a market capitalization of $19.24 billion on December 08, 2025 [2] Group 3: Financial Performance of The Trade Desk, Inc. - In Q3 2025, The Trade Desk reported revenue of $739 million, reflecting an 18% year-over-year growth [4] - The company is strategically positioned to benefit from the increasing spend in connected TV (CTV), which accounts for 48% of its focus, alongside mobile at 35% [3]