Large Cap – Domestic Ultra Concentrated

Positions Sizes Range from 1% to 30%

Weights Reflect:

• Upside Opportunity
• Fundamental Attractiveness
• Risk/Return Profile

Sector Weights Unconstrained

Annual compounding rates of return ending 9/30/2024
*Composite inception date is 09/30/2016

*Composite inception date is 09/30/2016
N.R. – Not Required

September 30, 2024

The end result of the investment process is a portfolio comprised of companies with solid growth prospects trading at compelling valuation levels

Domestic Ultra Concentrated Portfolios in this composite are typically comprised of 5-15 securities from an 800 stock universe that may or may not pay dividends. Positions are typically bought and increased opportunistically to a maximum of 30%. For comparison purposes the composite is measured against the Russell 3000 Index. Cornerstone Investment Partners is an independent, employee owned investment advisory firm. Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Past performance is not indicative of future results. N.A.-Information is not statistically meaningful due to an insufficient number of portfolios in the composite for an entire year. The U.S. Dollar is the currency used to express performance. Returns are presented gross and net of management fees and include the reinvestment of all income. Net of fee performance was calculated using actual management fees, a model fee based on the standard investment advisory schedule was applied to non-fee paying accounts. The Domestic Ultra Concentrated composite incepted on September 30, 2016 and was created in June 2019. The annual composite dispersion is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. The 3 year ex post standard deviation is not presented because 36 months of returns are not available. Cornerstone Investment Partners claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Cornerstone Investment Partners has been independently verified for the periods September 30, 2001 thru December 31, 2023. The verification and performance examination reports are available upon request. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. Verification does not provide assurance on the accuracy of any specific performance report. The firm maintains a complete list and description of composites. Policies for valuing investments, calculating performance, and preparing GIPS Reports are available upon request. Benchmark returns are not covered by the report of independent verifiers. To receive a list of composite descriptions and/or additional information, contact Cornerstone Investment Partners at 3438 Peachtree Rd, NE; Suite 900; Atlanta, GA 30326, 404-751-3850 or marketing@cornerstone-ip.com. The general fee schedule for equity accounts is as follows: 0.75% on the first $10,000,000; 0.55% on the next $10,000,000 and 0.35% on the balance. Actual investment advisory fees incurred by clients may vary. GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Due to the marketing rule that went into effect on 11/4/22, the net returns were updated to comply with this regulation.  Additional information is available upon request.