Style:  Small Cap Growth

Inception: 7/1/2013

Benchmark:  Russell 2000 Growth Index

Market Cap at Initial Purchase:  $300 million - $4 billion

Concentrated: Target Number of Holdings  35 to 45

Diversification Targets: 5% maximum exposure to a particular security & 15% maximum initial commitment to a particular industry, in general

Low Turnover: 25 to 50% annually

Fully Invested: Average cash allocation of 1 to 5%

• We believe that long term superior stock performance is generated by companies consistently growing earnings and free cash flow.
• Our firm’s experience, research efforts, and understanding of a company's earnings profile provide us with a competitive edge.
• Our internal fundamental, bottom-up research give us an analytical advantage in identifying growth stocks with a proper valuation.
• We seek to generate the majority of our outperformance from stock selection by constructing a high conviction portfolio with a lower realized volatility over time.