Portfolio Assets

• Equities We maintain a concentrated, long-term portfolio of high-quality companies with robust balance sheets, sustainable competitive advantages, and consistent revenue and earnings growth. Our approach emphasizes patient ownership of businesses we believe will compound value over time.

• Derivative Contracts We selectively write derivative contracts on high-conviction underlying equities held in—or targeted for—our portfolio. This disciplined strategy generates premium income, enhances cash flow to shareholders, and provides attractive risk-adjusted returns while aligning with our fundamental investment views.

• Real Estate We own and actively manage a portfolio of income-producing residential properties, spanning both long-term leases and short-term rentals. This segment delivers stable cash flows, diversification benefits, and potential for appreciation through thoughtful property selection, operational excellence, and market positioning.