


(Formerly Hughes Capital Management, LLC)

Security Selection
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We begin our security selection process with rigorous credit and security structure analysis.
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Our analysis relies on numerous street and internal proprietary research to develop an in-depth analysis of the security.
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We then perform an internal credit analysis to determine the security's credit quality and value proposition.
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Once the credit analysis is complete, a strategic decision is reached regarding the security's appropriateness for inclusion
in the portfolio.
Filter Out Uncompensated for Risk Across Sectors

IG CREDIT
Utilities
Industrials
Financials
Finance Cos
Insurance
Money Center
REITS
Bank of America
Citigroup
JP Morgan
Wells Fargo
Sr Hold Co
Sub Hold Co
TRUPS
Hybrids
High Yield
Cable
Gaming
Retail
Domestic
International
Cablevision
Charter
Cequel
MediaCom
Operating Co
Holding Co
ABS
Auto
Credit Card
Equipment
Prime Loans
Prime Lease
Subprime Loans
Rental Fleet
Dealer Floorplan
Americredit
CPS
Drivetime
Santander
New Issue/Secondary
Senior Front Pays
Senior LCF
Subordinates
