Bourgeon

Partners L.P.

Fund Investment Objectives

The goal of Bourgeon Partners, L.P. is to maximize capital through a consistent investment process while preserving assets and adding value in any market environment. This is accomplished via a fundamental long/short portfolio that looks for long-term opportunities over a 2-3 year period where returns are potentially in excess of 50-100%. We invest in sectors that have the highest growth opportunities, i.e, the "wind at our backs" approach. Our primary focus is on U.S. small and mid-sized companies with a secondary concentration on potential turn-arounds and undervalued plays in the market.The goal is to be rarely, if ever, more than 50-70% net long or short. We gain our edge by performing fundamental analyses and by gathering extensive research through speaking with customers, competitors, and suppliers. We manage risk by continually monitoring our companies and global market trends. If the reason for involvement with a security is no longer viable it is sold. Securities are also removed from the portfolio when the fundamental outlook changes.