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n the 1s' quarter and have since experienced additional gains compounding our year to date results. Our performance was reasonably distributed with Diamond Resorts and Graphic Packaging adding nicely to results, as well as a substantial new investment the Fund is still building a position in which we hope to d
a base of capital many multiples larger than the assets of the Fund today. CONFIDENTIAL 4 EFTA00605927 ADW Capital Partners, L.P. 14/20/2015 Operational Update/Conclusion: The Fund is doing well in 2015 and continues to grow. We have settled into our new office at 1133 Broadway and would encourage you to stop by and
lier agreements, etc. to make that same dollar of revenue go even farther. The two investments we detailed in our second and third quarter letters, Diamond Resorts and Graphic Packaging were direct beneficiaries of this phenomenon. Both companies were "rolled up" through acquisition leveraging their own infras
nd is also building a position in a Company we are very excited about and hope to be able to discuss with you in future quarters in greater detail. Operational Update/Conclusion: The Fund is doing well in 2015 and continues to grow. We have settled into our new office at 1133 Broadway and would encourage you to stop by and
lier agreements, etc. to make that same dollar of revenue go even farther. The two investments we detailed in our second and third quarter letters, Diamond Resorts and Graphic Packaging were direct beneficiaries of this phenomenon. Both companies were "rolled up" through acquisition leveraging their own infras
nd is also building a position in a Company we are very excited about and hope to be able to discuss with you in future quarters in greater detail. Operational Update/Conclusion: The Fund is doing well in 2015 and continues to grow. We have settled into our new office at 1133 Broadway and would encourage you to stop by and
lier agreements, etc. to make that same dollar of revenue go even farther. The two investments we detailed in our second and third quarter letters, Diamond Resorts and Graphic Packaging were direct beneficiaries of this phenomenon. Both companies were "rolled up" through acquisition leveraging their own infras
nd is also building a position in a Company we are very excited about and hope to be able to discuss with you in future quarters in greater detail. Operational Update/Conclusion: The Fund is doing well in 2015 and continues to grow. We have settled into our new office at 1133 Broadway and would encourage you to stop by and
Entities connected to both Diamond Resorts and Operational Update/Conclusion

Dow Jones
ORGANIZATIONAdam D. Wyden
PERSONADW Capital Partners
ORGANIZATIONADW Capital Management
ORGANIZATIONMarcum LLP
ORGANIZATION
Uncle Sam
PERSONSS&C Fund Services
ORGANIZATIONGraphic Packaging
ORGANIZATIONDow Chemical
ORGANIZATIONPermian
LOCATION