From: Neal Berger To: [email protected] Subject: Eagle's View Capital Management, LLC- February 2016 Performance Update... Date: Sun, 20 Mar 2016 14:45:10 +0000 Eagles View Capital Management, LLC February 2016 Performance Update Mar 20, 2016 Risk Manager Sales Dear Partners/Friends, Click here to view our most recent monthly investor tearsheet Performance of Eagle's View Capital Partners, L.P. is estimated at -0.51% for February with YTD performance estimated at -2.30% net of all fees and expenses. Performance of Eagle's View Offshore Fund, Ltd. Class G is estimated at -0.76% for February with YTD performance estimated at -3.24% net of all fees and expenses. Performance of Eagle's View Offshore Fund, Ltd. Class B ("High Alpha") is estimated at -0.85% for January with YTD performance estimated at -3.58% net of all fees and expenses. This Share Class seeks to generate substantially higher returns through a more concentrated portfolio of some of our historically higher return opportunities. Investors in this Class should have a willingness to accept increased volatility and risk in exchange for the potential of higher returns. Despite the recent rapid run-up in the broader equity markets, the rally belies enormous pain experienced by certain hedge fund strategies, which by some measures is worse than that experienced during the 2008 financial crisis. According to a Bloomberg article dated March 15, Russell 3000 Index companies in which hedge funds have the highest ownership percentage have plunged 31% since July 2015, compared with a 2.8% decline in the S&P 500 index. Losses are even steeper when considering companies with at least 20 different hedge fund investors. An index tracking those most concentrated companies has plunged 45% from July 2015 through the end of February, according to Novus, which follows a universe of almost 1,200 US stocks. That's a worse relative performance for the group than any equivalent stretch during the 20