Avis Budget Group, Inc.

SRS Investment Management invests and trades in securities and financial instruments of all kinds and descriptions, whether publicly traded or privately placed. The objective of the SRS Hedge Funds is to deliver superior risk-adjusted absolute returns over the long-term through the implementation of a global long/short equity strategy based on fundamental research. The firm conducts substantial research and employs a disciplined investment process in making long and short investments in the global equity markets. SRS Investment Management invests across several industries and geographies. They tend to focus on investing in the global technology and technology-related markets, as well as investing across various sectors in India. The Long-Only Fund's investment objective is to deliver superior relative returns through the implementation of a global long equity strategy based on fundamental research. It was formed for the purpose of investing and trading in a wide variety of long securities and financial instruments, US and non-US, while primarily focusing on publicly traded equities, equity derivatives and equity-linked securities. The PE Funds (through the PE Master Fund) are invested primarily in Indian real estate and private equity investments. On the real estate front, the PE Funds invest in commercial, residential, retail and hospitality assets and also invest in real estate development companies. The investment objective of the PE Funds is to identify and acquire attractive real estate assets, develop them into quality end products and lease/sell them to potential users/acquirers. The Special Opportunities Fund is a single themed equity and equity linked investment idea that may also be commonly held by the Hedge and/or Long-Only Funds.

GCM's investment process focuses on deep, fundamental research and individual security selection primarily within equity and credit-oriented strategies. The firm employs a GARP investment approach that focuses on companies in stable industries, with recurring revenue streams or entrenched market positions. GCM may also focus on contrarian investments (cyclical or company specific). They often combine GARP and contrarian investing when a steady growth business emerges within a company as the dominant economic force over a more challenged business unit. GCM invests in stored or hidden value situations, where excess balance sheet capacity may be used to accelerate returns or where contractual rights or startup operations show no present value but may be significant drivers of value tomorrow. In addition to long equity investments, GCM commits significant capital to short equity positions. They look for companies whose industries face cyclical, transitory or secular headwinds, whose competitive position is likely to erode over the near- to medium-term, and companies whose liquidity profile will potentially create equity value impairment or cause future issuance of additional equity at lower prices. GCM may also maintain short positions in equity index futures or other index products to reduce net market risk. The firm also engages in long and short credit positions with emphasis on business or asset stability over growth. They may seek to reduce the risk through other hedges that protect the overall portfolio of the Funds, including interest rates, foreign currencies or sovereign, corporate or asset-backed credit spreads.

NSC-Private Banking is an active, conservative manager which focuses on long-term capital preservation. They tailor their investment approach to their clients' profile, typically investing in equity and bond funds globally, with a preference for the US market.

Investor at Zipcar, Inc.