Michael Sapir

Heritage Investors Management Corp. (Heritage) is an independent, SEC-registered investment advisor and wealth management firm headquartered in Bethesda, Maryland. The firm was founded by Michael S. Cornfeld in 1974. Heritage manages portfolios of stocks, bonds, exchange traded funds, and money market instruments for individuals, IRAs, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations, partnerships, endowment funds, conservatorships, associations, foundations, donor advised funds, and guardianships.

Chevy Chase Trust Co. (CCTC) is a SEC-registered investment advisor headquartered in Bethesda, Maryland. The firm was founded in 1997 and is a subsidiary of Chevy Chase Trust Holdings LLC, ultimately owned by Chevy Chase Holdings LLC. CCTC primarily provides investment management services to high net-worth individuals, but also offers personal trust services, wealth family services, financial planning services, institutional custody services, and for qualifying entities, participation in collective investment funds.

On Site Trading, Inc. operates an on-line brokerage Web site that offers direct trading, real time market data, and research services. The company was founded by Howard G. Jahre and is headquartered in Great Neck, NY.

Founded in 1982, Ameritas Investment Corp. is an independent broker/dealer located in Lincoln, Nebraska with an additional office in Bethesda, Maryland. The firm is a subsidiary of Ameritas Life Insurance Corp.

Part of Atria Wealth Solutions, Inc., Grove Point Financial LLC was founded in 1954 and is a financial firm based in Rockville, MD. The company provides broker-dealer and RIA services to over 500 financial professionals, with a focus on delivering service excellence based on relationships. Grove Point Financial is a subsidiary of Kestra Holdings and offers securities through Grove Point Investments, LLC (GPI) and investment advisory services through Grove Point Advisors, LLC (GPA). The company offers technology, leadership, and support to help financial professionals grow their practice. On September 5, 2023, Grove Point Financial was acquired by Atria Wealth Solutions, Inc. from Kestra Financial, Inc.

AdvisorShares Investments LLC (AdvisorShares) is a registered investment management firm headquartered in Bethesda, Maryland. The firm was founded by Noah Hamman in 2006 and is a subsidiary of Wilson Lane Group LLC. AdvisorShares offers a variety of actively managed thematic, equity, and multi-asset ETFs.

Benchmarq Trading Partners LLC operates as a technology oriented, CBOE Stock Exchange (CBSX) proprietary trading broker-dealer. The company is headquartered in New York, NY.

Morgan Stanley & Co. LLC is a registered broker-dealer subsidiary of Morgan Stanley Domestic Holdings, Inc., ultimately owned by Morgan Stanley (NYSE: MS) in the US. Headquartered in New York City, the firm was founded in 1987 and provides debt and equity services including underwriting, M&A advice, securities dealing and brokerage and trade execution. Their client base ranges from large global institutional investors to hedge funds at the cutting edge of innovation in the industry.

Goldman Sachs & Co. LLC (GS&Co.) is a securities brokerage firm headquartered in New York City. Founded in 1927, the firm is a subsidiary of The Goldman Sachs Group, Inc. (NYSE: GS). GS&Co. provides services to help hedge funds manage risk, monitor portfolios, maintain liquidity and build their businesses. They offer clients access to global equity and derivatives markets, as well as foreign exchange, commodities, European Lefts, rates and credit across the Americas, Europe and Asia. The firm proactively monitors capital markets, searching for pockets of liquidity and news that may require changes to those strategies. Integration with the Goldman Sachs network gives clients access to the firm's sectored block trades and their insights into price discovery. Their electronic trading program provides clients with tools to manage their trades from pre-trade analytics to post-trade analysis.

MFI Capital LLC (MFI Capital) is a venture capital founded in 2001. The firm is headquartered in Austin, Texas.

Cambridge Associates LLC is a privately-held, SEC-registered investment advisor headquartered in Boston, Massachusetts. The firm was founded in 1973 by James Bailey and Henry Lewis. Cambridge Associates provides investment management and advisory services to colleges and universities, foundations and other non-profit institutions. They also act as an investment adviser to private clients, family offices, corporations, healthcare institutions, insurance groups, pension plans and ERISA pools and public and government-related groups.

BTS Asset Management, Inc. (BTS) is a privately-held, SEC-registered investment advisor headquartered in Lexington, Massachusetts. The firm was founded in 1979 by Vilis Pasts. BTS provides portfolio management services directly to individuals, high net worth individuals, corporate pension and profit-sharing plans, Taft-Hartley plans, foundations, endowments, registered investment companies and trust portfolios.

ProShares Trust II is a statutory trust organized into separate series. It provides access to alternative investments with the liquidity, transparency and cost effectiveness of exchange traded funds. The Trust is managed by the Sponsor, ProShare Capital Management LLC which serves as the Trust's commodity pool operator and commodity trading advisor. ProShares Trust II was founded on October 9, 2007 and is headquartered in Bethesda, MD.

Vest Financial LLC (Vest) is a SEC-registered investment advisor headquartered in McLean, Virginia. The firm was founded by Karan Sood and Jeffrey Chang in 2012. They are a subsidiary of CBOE Vest Group, Inc., which is owned by CBOE Global Markets, Inc. (BATS: CBOE). Vest serves as the investment advisor or sub-advisor to open-end mutual funds, Exchange Traded Funds (ETFs), Collective Investment Trusts (CITs), and acts as a portfolio consultant and may provide sub-supervisory services for Unit Investment Trusts (UITs). In addition, the firm may also provide non-discretionary investment recommendations as a Sub-Advisor to another investment advisor/platform.

Part of FMR LLC, Fidelity SelectCo LLC is a company that provides investment advice. The company is based in Denver, CO.

Academic Management Systems, Inc. develops a course evaluation software product. Its platform enables universities and schools to evaluate courses and faculty online. The company was founded by John Eisner on January 17, 2001 and is headquartered in Amherst, NY.

FinlogiK, Inc. engages in the development and provision pf financial software solutions. It offers investment engineering, data analysis, and self-directed investing. The company was founded on January 31, 2008 and is headquartered in Montreal, Canada.

Part of MM VAM LLC, Vident Advisory LLC provides investment advice. The company is based in Alpharetta, GA. The company was founded in 2016. Vince Leonard Birley has been the CEO of the company since 2023.

Vident Investment Advisory LLC (VIA) is an investment advisory firm headquartered in Alpharetta, Georgia. The firm was founded by Nicholas Stonestreet and Denise M. Krisko in 2014. They are a wholly owned subsidiary of Vident Financial LLC, which is owned by Vident Investors’ Oversight Trust. VIA primarily provides investment sub-advisory services to ETFs, UCITS, and private funds.

The Hedge Fund Association is an international non-profit organization that aims to promote transparency, development, and trust in alternative investments. The organization is run by elected and appointed volunteers who work on behalf of the entire alternative investment industry, including more than 10,000 hedge funds in the US and abroad, which collectively manage over $3 trillion in assets. The non-profit company is based in Aventura, FL. HFA's membership includes hedge fund firms, financial institutions, funds of hedge funds, family offices, public and private pension funds, endowments and foundations, high net worth individuals, allocators, and service providers.

Fidelity Master Portfolios LLC is an open-end management investment company. The company is headquartered in Boston, MA.

Horowitz & Co., Inc. provides investment advice. The private company is based in Weston, FL.

Milliman Financial Risk Management LLC (Milliman FRM) is a SEC-registered investment adviser headquartered in Chicago, Illinois. The firm was founded in 1998 and is a wholly owned subsidiary of Milliman, Inc., an independent consulting and actuarial firm. Milliman FRM offers hedging and asset allocation advisory services to institutional clients. These services are provided to life insurers, pensions, endowments, banks, fund managers, reinsurers, and trusts who are interested in using investment allocation models for their portfolios.

Franklin Square Holdings LP (FS Investment) is a private equity firm founded in 2007 by David J. Adelman, Randy I. Anderson and Michael Craig Forman. The firm is headquartered in Philadelphia, Pennsylvania.

Part of T. Rowe Price Group, Inc., T. Rowe Price Investment Services, Inc. is a company based in Berwyn, PA.