Investment Philosophy (PSQGX)

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

1. Seek to preserve & maintain purchasing power of principal and income generating capacity over time
2. Focus on managing the risk of loss of principal during times of market adversity
3. Strive to achieve attractive long‑term returns relative to the general market over time
4. Emphasis on “margin of safety” between estimated value of security and market price

Investment Style

• A value-driven strategy that emphasizes cash flow characteristics
• Start off looking for established businesses, rather than simply low-priced stocks
• When we believe that businesses trade at discounts that provide a margin
  of safety relative to an estimate of intrinsic value, long term investments may be made
• The result is a diversified portfolio of approximately 20 – 45 high-quality companies that exhibit both value and growth characteristics

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

Margin of Safety refers to the principle of purchasing securities when the market price is below an estimate of intrinsic value.