Investment Philosophy (PSQGX)

Port Street Quality Growth Fund’s Investment Philosophy Revolves Around Four Primary Goals:

1. Seek to protect & maintain purchasing power of principal and income generating capacity over time
2. Focus on minimizing risk of loss of principal during times of market adversity
3. Strive to outperform the general market over full market cycles
4. Emphasis on “margin of safety” between estimated value of security and market price

Investment Style

• A value-driven strategy which emphasizes cash flow growth
• Start off looking for great businesses, Not cheap stocks
• When we believe great businesses trade at significant discount that afford a margin
  of safety to a conservative estimate of intrinsic value, then long term investments are made
• Result is a diversified portfolio of 20 – 45 high quality names that exhibit both value and growth stock characteristics

Diversification does not assure a profit nor protect against loss in a declining market.

Margin of Safety is the principle of only purchasing securities when the market price is significantly below its intrinsic value.