Long-term investment in this holding company. Earnings growth based on increasing profitability of the retail operations, utilizing cash for investment income, sale of real estate, and stock buybacks. Originally purchased in 2005. Building a large position for the long term.

Long-term investment in RNAi therapeutics as a new platform for drug development. Originally invested as part of a field bet, proceeds from Sirna Therapeutics reinvested in ALNY after their buyout in 2006. Originally purchased in early 2005. Trading around a large core position.

Semiconductor materials supplier with high growth (levered to adoption/use of copper in advanced chips). New products, such as AutoClean and RegenSi, will be drivers of future growth.

Antisense play. Lead product is ISIS-301012, a Phase II product for treatment of high lipid levels in blood (e.g. high LDL cholerterol). Originally purchased in 2006.

Speculative play on adoption of PicoP for mobile phone projectors, HUD for autos, and color eyewear for military. Originally purchased in 2006.

Value play. Originally purchased in 2006