Cloudera, Inc.

Nutanix, Inc.

7.4% of portfolio as of 9/30/17

Nutanix is a provider of so-called "hyperconverged" data center equipment that merges computing, storage, and networking capabilities in a single piece of equipment. The company's products offer corporate customers access to technologies similar to those used by Google, Amazon, and Facebook in their own data centers. The company's many customers include: AT&T, Best Buy, ebay, Honda, New York Life, PWC, and the U.S. Army.

IDC estimates that, including hardware and software solutions, the hyperconverged systems market surpassed $1 billion dollars in revenue in 2015, growing 116% as compared with 2014. The research firm estimates 94% year-over-year growth in 2016. Furthermore, Technology Business Research is predicting a 50% compound annual growth rate for the hyperconverged market through 2020. In its quarter ended January 31, 2016, Nutanix reported revenues of more than $100 million, and a customer count that has more than doubled since January 31, 2015.

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Nutanix went public on September 30, 2016. The IPO was priced at $16.00 per share, resulting in proceeds to the company of approximately $238 million. The shares, which now trade on the NASDAQ under the ticker symbol "NTNX", closed their first day of trading at $37.00 for an opening day gain of 131.25%.

The Fund holds 459,772 shares of Nutanix common stock as of June 30, 2017, at an approximate average cost of $16.04 per share.

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