MANAGER MONDAYRATAN CAPITAL

NEHALCHOPRA

Ratan Capital's AUM Grew Considerably Since 2012, and TheyCut Positions and Drove Up Concentration

Top Ten Securities Represent Nearly 100% of Portfolio

Position Sizing Added 32 Percentage Points over EquallyWeighted Return

Win/ Loss Ratio by Position Size Bucket, Contribution byPosition Size Bucket

Shifting into Mega Caps out of Small

While Ratan is a General Investor, They're Riding theHealtcare Boom

For Questions, Please Contact:

Stan AltshullerChief Research Officer

stan@novus.com