Strategy
The AlphaClone Activist Masters Core Strategy seeks to invest quarterly in the largest disclosed US-exchange traded equity holding from EACH investment fund in the group.

Investment Objective
Like all AlphaClone Core Strategies, this portfolio is intended for investors with moderate to aggressive capital appreciation investment objectives.

Stocks included:
US traded equity securities

Number of holdings:
Up to 15

Methodology

1. Each quarter, US-exchange traded equity holdings from each investment fund in the group are ranked highest to lowest based on the market value as of the end of the most recent quarter.
2. Securities in the portfolio are then selected to match substantially the largest holding for EACH investment fund in the group.
3. All securities are then equal weighted. If the same security appears for multiple managers we treat each instance as a separate holding.

Rebalance/Update frequency: Quarterly (approximately 50 days after the end of each calendar quarter).