Our Opportunity Growth Strategy emphasizes long-term capital appreciation. Bred out of our High Yield Strategy and associated research, we believe our credit-oriented focus is different within the equity market. We attempt to identify anomalies related to a company’s fundamentals or ability to become shareholder-friendly that may be overlooked by the equity market. Similar to our High Yield Strategy, we believe prudent use of a company’s balance sheet, accelerating free cash flow generation, and debt-repayment are often beneficial for the equity valuation of a given company. We believe the dual focus (fixed income and traditional equity analytics) actually strengthens and provides balance to our investment process as the fixed-income market and equity market may factor in different variables related to a specific company or industry. There is typically a high over-lap between the names owned in our high yield strategy and equity strategy. At times, we may use electronically traded funds (ETFs) to gain market exposure, as well as actively evaluate the overall equity market in an attempt to find equity opportunities that fit our investment criteria.