Investments we have made

Zafgen, Inc. (ZFGN)

FDA Approval for a Deadly Drug? Fat Chance

Straight Path Communications Inc. (STRP)

The Next Generation of Overblown Spectrum Hype

Allied Minds (ALM LN)

A Venture-Capital Junk Drawer for 3x NAV

Bavarian Nordic (BAVA DC/BVNRY)

Dendreon 2.0? Ineffective Cancer Vaccine Masked by Misleading Data

Webster Financial (WBS)

Healthy Bank with a Hidden Gem: 34% Upside and a Potential Spin-Off

Globalstar, Inc. (GSAT)

The Biggest Stock Promotion Since Sino-Forest

Cardtronics, Inc. (CATM)

Aggressive Accounting and Secular Decline Drive 40-70% Downside

BofI Holding, Inc. (BOFI)

Higher Rates Will Compress Margins for Bank Priced at 3.5x Book Value

JGWPT Holdings Inc. (JGW)

Dominant Franchise in a Lucrative Niche Has 75% Upside

Unilife Corporation (UNIS)

A History of Missed Deadlines, Aggressive Cash Burn, and Vague Supply Agreements Suggest...

Lindsay Corporation (LNN)

Irrigating the Emerging Markets With A Modest Valuation

Prime Office REIT-AG (PMO.DE)

September 24th Merger Vote Combined with Shareholder Activism Should Unlock Value