The examples and descriptions of investments in this client letter do
not represent all of the investments purchased, sold or recommended by
Founders and instead represent:
- the ten largest equity positions held by Founders’ clients;
- the two largest equity positions in each industry group to which
Founders has allocated capital; and
- all equity positions which account for 3% or more of the total
funds allocated by Founders to equity holdings.
The performance of these investments was not a criterion in determining
the representative list. It should not be assumed that the
investments identified and discussed were or will be profitable.
