The Baker Street Capital, L.P. Fund's investment objective is to achieve high returns on capital while stressing the preservation of capital primarily through active investing. The Fund invests primarily in a broad range of U.S. securities based on fundamental research and analysis, and may take an activist approach with respect to the companies in which it invests. The Fund will also buy, sell, hold and otherwise deal in other securities and financial instruments, on margin or otherwise, including but not limited to listed and unlisted common stocks, preferred stocks, stock warrants and rights, bonds, debentures, convertible securities, money market obligations, ADRs, derivatives, interests in private and public investment funds, foreign exchange contracts, futures and forward contracts, swaps and options, and interests pertaining to any of the foregoing. The Fund may employ a broad range of strategies utilizing short sales, convertible and risk arbitrage and the purchase and sale of shares sold in initial and secondary public offerings. The Fund will not trade futures contracts without first satisfying applicable regulatory requirements. AUM refects the aggregate of the onshore and offshore funds.