The Broyhill Opportunistic Fixed Income Portfolio aims to identify opportunity in individual fixed income securities based upon the issuer's fundamental strength. The portfolio combines a high probability of the safe return of principal with a current return superior to a portfolio of US Treasury securities. The strategy covers a broad spectrum of fixed income securities based upon fundamental research conducted by the portfolio management team and does not rely on major rating agencies. The credit fundamentals of all holdings are constantly monitored with the primary goal of holding all positions to the stated maturity. The portfolio maturity structure is based upon the economic outlook and assessment of maximum value. The portfolio is fairly concentrated, typically holding 20 - 45 individual positions.