SEDIMENT CAPITAL MANAGEMENT

3. To be fair and transparent with like-minded long term partners. It's all about fair and aligned incentives. No management fees. We believe in not taking a profit unless we meet a hurdle. This means setting standards and rejecting clients/partners who don't share the same long term views. This means clear and simple writing and not promising one thing while doing another. It also means not changing the benchmark used for annual results... 6. All client's and partner's information is kept confidential. We hope that partners will reciprocate by not publishing online any of the annual letters or transcripts from annual general meetings. We strive to be as low key and discrete as possible.

Also known as: Sediment Capital, Sediment Capital Management LLC