…Long Bias) Market Capitalization All Markel Capilalvation Sectors All Sectors Typical Net Exposure Range (Delta adjusted) +30% to +80% Typical Industry Net Exposure Range Less than 20% Typical Gross Exposure Range 80% to 200% Typical Position at Cost (Long) I% to 5% Typical Position at Cost (Short) 0.50% to 1.5% Typical Number of Positions Range: 120 to 180 Typical Underlying Instruments Liquid Instruments, No Private Equity Investments Page 10 ALKEON CAPITAL MANAGEMENT Private & Confidential CONFIDENTIAL - PURSUANT TO FED…