PCM seeks to maximize after-tax capital appreciation by assuming high levels of risk in an aggressively managed portfolio of securities. There are no restrictions on the type of instruments in which they may invest, although PCM invests primarily in publicly traded equity securities, as well as options, warrants, and swaps related to equity securities. The firm makes investment decisions on the basis of fundamental security analysis which is premised on research into the capital structure, financial statements and management of a company. Portfolio managers conduct such research by reference to, among other things, regulatory filings by issuers, data provided by regulatory agencies, discussions and meetings with executives and industry experts, periodicals and on-line news sources, third-party research and independent data providers. After the research, portfolio managers will form the basis for investment decisions through the judgments about the financial strength, valuation and outlook of a company.

Artisan Partners' investment approach is based on a bottom-up process that covers a range of geographic areas and focuses on investments in growth and value stocks. The firm places particular emphasis on identifying and investing in well-managed companies with dominant or increasing market shares. They also closely monitor market valuation. Artisan Partners' autonomous investment teams oversee a range of investment strategies across multiple asset classes including, but not necessarily limited to: global equity, US value, growth, global value, international value, emerging markets, credit, developing world and thematic. All accounts managed by Artisan Partners regardless of investment strategy, invest primarily in common stocks and other equity securities.

SIG pursues a global and opportunistic strategy for investing in distressed debt, value equities and event equities. They will also pursue a global and opportunistic strategy for investing in \"less-than-liquid\" situations, including private or illiquid debt and equity investments. The firm allocation of capital depends upon where it believes the most attractive risk-adjusted opportunities exist. SIG utilizes an analytical framework that they believe helps to filter out unattractive ideas by addressing the: (i) quality of the business or asset and its management team; (ii) absolute valuation; (iii) likelihood and impact of catalysts; (iv) proprietary nature of the idea and liquidity; and (v) asymmetric return potential. Upon thorough scrutiny of all of these considerations, the firm then attempts to select opportunities with the greatest asymmetric upside potential and short opportunities with the greatest asymmetric downside potential.

Microsoft Corp. engages in the development and support of software, services, devices, and solutions. Its products includes operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; and video games. It also offers personal computers, tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment is comprised of products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform. The Intelligent Cloud segment refers to the public, private, and hybrid serve products and cloud services of the company which can power modern business. The More Personal Computing segment encompasses the products and services such as windows operating system, devices, gaming platform, and search engines. The company was founded by William Henry Gates III in 1975 and is headquartered in Redmond, WA.