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…with thorough diligence Manage partnership positions in public equities as if they were minority investments in private companies Portfolio Composition • 5-12 Investments • Position weighting is guided by principle of opportunity cost. • Select opportunistic short sales • Opportunistic investments in distressed debt (none presently). • Low tumoverfTax efficient Alignment of Interests Principal Clifford Sosin has more than go% of his net worth invested in the partnership. Cumulative Performance Since the Partnership's Inception 300% 250% 200% 150% 100% 50% 0% -50% (5,…