Fortress Strategy* Returns
Returns are Presented Net of Applicable Fees and Expenses
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*The Fortress Strategy performance history reflects the performance of the portion of the Pickens-Abraham Foundation account managed by Salem Abraham (the “Account”) from January 1,2008 through June 30, 2018 (adjusted as described below) and the performance of Abraham Fortress Fund, LP (the “Fund”) beginning July 1, 2018. Returns are reported net of applicable fees and expenses (including a 0.65% annual Management Fee) and are based on an investment made at inception of the strategy. Past performance is not indicative of future results. An investment of this nature is subject to a risk of loss.The Account commenced operations on January 1, 2008 and had an investment strategy similar to that of the Fund. The Account’s performance has been adjusted on a pro forma basis to reflect the fee structure of the Fund. The performance shown represents the actual monthly performance of the Account from January 2008 through June 2018, net of applicable fees and expenses, retroactively adjusted on a pro forma basis to reflect the 0.65% annual Management Fee.