Preliminary Returns. Eagle Capital Management, LLC (the “Adviser”) is an investment adviser registered with the Securities and Exchange Commission. The Adviser has prepared and presented this report in compliance with the Global Investment Performance Standards (GIPS®). After 1/1/93, the returns shown are size-weighted. All fee-paying, discretionary portfolios are included in at least one composite. A complete list and description including computational policies of Eagle's composites are available upon request. Future performance is not guaranteed by past results. Returns from client to client may vary. Form ADV is available upon request. Gross performance results do not reflect the deduction of Eagle's investment advisory fee, which will affect a client's total return. Dispersion for the Eagle composite for 1999 was 3.3%, 2000 was 3.2%, 2001 was 0.8%, 2002 was 1.2%, 2003 was 1.1%, 2004 was 1.9%, 2005 was 1.4%, 2006 was 1.3%, 2007 was 1.1%, 2008 was 1.5%, 2009 was 2.2%, and 2010 was 1.0%.