PLEDGE CAPITAL

Pledge Capital is a registered investment advisor ("RIA") in New York, that manages separately managed accounts ("SMA") for clients on a discretionary basis... We believe companies on the cusp of rapid profit growth are undervalued by the market. We seek to identify under-priced companies at the point of an inflection point, that will enhance their growth prospects and the durability cash flows. From time to time, we will invest in undervalued hard assets when there is a pathway to enhancing their worth. We execute an actively managed research-intensive strategy. Our strategy is "long-biased" and concentrated in up to ten core positions... We cover one hundred high quality businesses, with competitive advantages and good growth potential.

Also known as: Pledge Capital LLC