David Binns

MacFadden & Associates, Inc. provides information technology and program management support services and solutions. It provides health information technology, disaster response management, humanitarian assistance and emergency preparedness services. The company was founded by James R. Macfadden in 1986 and is headquartered in Silver Spring, MD.

SLS Management seeks to earn significant risk adjusted returns by investing in and trading both long positions and short positions in securities and other financial instruments consisting primarily of publicly-traded stocks, bonds, options and related instruments. They apply rigorous and often primary fundamental analysis to restructurings and complex corporate reorganizations. SLS Management focuses mainly on mid- and large-cap restructurings. They target securities where a discrete event or catalyst seems likely to set off a progression of events that can lead to value creation. The firm uses a disciplined investment approach of value that focuses on the trend in the fundamentals. This approach identifies opportunities where valuations are conservative and trends are improving. SLS Management also invests securities of companies that are restructuring, selling assets, entering new businesses, changing management, altering compensation schemes, emerging from bankruptcy, or subject to regulatory changes, take-overs, mergers and other corporate reorganizations.

Seminole Management Co. invests the assets of the their funds primarily in publicly traded equity securities of US companies; however they may invest in a variety of situations and use a broad range of specialized investment techniques. The assets of the funds may be invested in equity securities, as well as, debt and \"hybrid\" securities, such as convertibles. In addition, assets may be invested in the securities of Canadian and other foreign issuers traded in the US, and in securities of foreign issuers traded in non-US. Finally, the assets of the funds may be invested in foreign currency contracts, utilized to hedge the investment in foreign equities.Seminole uses bottom-up research to identify under-followed and under-researched stocks with low p/e ratios, strong balance sheets and positive annual earnings growth. The funds’ portfolio typically has a long bias, and therefore, will have unhedged directional exposure. Seminole's long-short investment strategy is driven predominantly by a value investment approach rather than by hedging considerations.The investment strategies used to implement investment advice given to clients include: long-term purchases, margin transactions; short-term purchases, trading; and short sales. Seminole may utilize leverage (in the form of borrowed funds, short sales or derivative instruments), on a moderate and selective basis, to increase investment positions or to make additional investments. Stocks will be sold when price/earnings objectives are met or if they become overvalued.