The document is a quarterly report from ADW Capital Partners, L.P. for the fourth quarter of 2014. It discusses the fund's investment strategy, portfolio updates, and operational updates. The report highlights the fund's focus on a concentrated, tax-sensitive, and long-term strategy, noting periods of underperformance and potential for significant outperformance. It provides observations on market trends, including the performance of large vs. small companies and the impact of lower energy prices. The report concludes with an operational update and a note of confidentiality.
documents/EFTA00620140.pdf
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