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Thomas S Ellis III Rembrandt v Facebook
13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010
Facebook Dark PoolsNo of Fund Entries 21
ValueIncome le $139 million
Alpha No Face
book
da
rk p
ools
fu
nd
J - $
0-15
000
K - $
150
01-5
000
0
L - $
500
01-1
000
00
M -
$100
001
-250
000
N -
$250
001
-500
000
O -
$500
001
-10
000
00
P1 -
$10
000
01-5
000
000
P2 -
$500
000
0-25
000
000
P3 -
425
000
001-
5000
000
0
P4 -
450
000
000+
Income and Value J K L M N O P1 P2 P3 P4
1 AIM Global Rea Est Fd CL Y (IRA) 15000$ $15000
2 AIM Global Rea Est Fd CL Y (IRA) 15000$ $15000
3 American Centy Mut Fds Amer Centy Vista 15000$ $15000
4 Artio Global Invt Fds Intl Equity F II CL I (IRA) 15000$ $15000
5 Artio Intl Equity Fd CL I (IRA) 15000$ $15000
6 Artio Intl Equity Fd CL I (IRA) 15000$ $15000
7 Blackrock Fds Intl Opp Instl CL B BROIX) (IRA) 1 15000$ $15000
8 Blackrock Fds Intl Opp Instl CL B BROIX) (IRA) 1 15000$ $15000
9 Blackrock Large Cap Ser Fds Core F 1 15000$ $15000
10 Blackrock Large Cap Ser Fds Core F 1 15000$ $15000
11 Blackrock Lg Cap Core Fd (IRA) 1 15000$ $15000
12 Blackrock Lg Cap Core Fd (IRA) 1 15000$ $15000
13 Blair William FDS Intl Growth Fd CL I 15000$ $15000
14 Blair William FDS Intl Growth Fd CL I 15000$ $15000
15 Blair William FDS Intl Growth Fd CL I 15000$ $15000
16 Brandywine Blue Fd Inc 15000$ $15000
17 Cambiar Opp Fd (IRA) 15000$ $15000
18 Cambiar Opp Fd (IRA) 15000$ $15000
19 Cambiar Opp Fd (IRA) 15000$ $15000
20 Delaware Gro Advisot Fds Inc U Growth Poirt Instl CL (IRA) 15000$ $15000
21 Delaware Gro Advisot Fds Inc U Growth Poirt Instl CL (IRA) 15000$ $15000
22 Diamond Hill Sm Cap Fd A 15000$ $15000
23 Dreyfus Appreciation FC Inc (DGAGX) (IRA) 15000$ $15000
24 Dreyfus Appreciation FC Inc (DGAGX) (IRA 15000$ $15000
25 Dreyfus Appreciation FC Inc (DGAGX) (IRA) 15000$ $15000
26 Dreyfus Appreciation FC Inc (DGAGX) (IRA) 15000$ $15000
27 Dreyfus Appreciation FC Inc (DGAGX) (IRA) 15000$ $15000
28 DWS Dreman Sm Cap Value CL 15000$ $15000
29 DWS Dreman Sm Cap Value CL 15000$ $15000
30 DWS Value Ser Inc Small Cap Value Fd CL S (IRA) 15000$ $15000
31 Goldman Sachs Finl Sq Mmkt I stl (IRA) 1 15000$ $15000
32 Goldman Sachs Finl Sq Mmkt I stl (IRA) 1 15000$ $15000
33 Goldman Sachs Finl Sq Mmkt nstl (IRA) 1 15000$ $15000
34 Goldman Sachs Tr Finl Sq Mm t I (IRA) 1 15000$ $15000
35 Goldman Sachs Tr Finl Sq Mmkt I (IRA) 1 15000$ $15000
36 Goldman Sachs Tr Finl Sq Mmkt I (IRA) 1 15000$ $15000
37 Goldman Sachs Tr Finl Sq Mmkt I (IRA) 1 15000$ $15000
Funds that do not qualify under the safe harbor mutual fund exemption from disclosure rule include (1) most IRAs (2) funds that issue regular reports where the judge knows or should know the stocks in his portfolio (3) funds with notorious activity (like TRowePrice and Fidelity pre-IPO Facebook investing) (4) undisclosed purchases of dark instruments which conceal activity subject to transparency laws (5) law firm 401(k) retirement accounts (6) funds where stocks are held in the judges (or spouse) name mdasheven one share and (7) funds where there is an appearance of impropriety
Guide to Judiciary Policy Ethics amp Judicial Conduct Vol 2B Ch 2 esp see Section 106 httpwwwuscourtsgovuscourtsRulesAndPoliciesconductVol02B-Ch02pdf
eg TRowePrice bought 52 of Facebook stock after SEC exemption (Source S-1)
0 5 10 15 20 25
T Rowe Price
Blackrock
Oppenheimer
Morgan Stanley
Security EG (Guggenheim)
Total Dark Pools
Thomas S Ellis III Rembrandt Social Media LP v Facebook Inc et al 13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010 Facebook Dark Pools Holdings
Page 1 of 3
Thomas S Ellis III Rembrandt v Facebook
13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010
Facebook Dark PoolsNo of Fund Entries 21
ValueIncome le $139 million
Alpha No Face
book
da
rk p
ools
fu
nd
J - $
0-15
000
K - $
150
01-5
000
0
L - $
500
01-1
000
00
M -
$100
001
-250
000
N -
$250
001
-500
000
O -
$500
001
-10
000
00
P1 -
$10
000
01-5
000
000
P2 -
$500
000
0-25
000
000
P3 -
425
000
001-
5000
000
0
P4 -
450
000
000+
Income and Value J K L M N O P1 P2 P3 P4
eg TRowePrice bought 52 of Facebook stock after SEC exemption (Source S-1)
38 Harbor Intl Instl CL (IRA) 15000$ $15000
39 Harbor Intl Instl CL (IRA) 15000$ $15000
40 Harbor Intl Instl CL (IRA) 15000$ $15000
41 Hotchkiss amp Wiley Fds Mid Cap Value I (IRA) 15000$ $15000
42 Hotchkiss amp Wiley Mid Cap Value I (IRA) 15000$ $15000
43 Hotchkiss amp Wiley Mid Cap Value I (IRA) 15000$ $15000
44 John Hancock Classic Value Fd CL I (IRA) 15000$ $15000
45 John Hancock Classic Value Fd CL I (IRA) 15000$ $15000
46 John Hancock Classic Value Fd CL I (IRA) 15000$ $15000
47 Legg Mason Value Tr Inc Nav Value Trust (IRA) 15000$ $15000
48 Legg Mason Value Trust (IRA) 15000$ $15000
49 Legg Mason Value Trust ( RA) 15000$ $15000
50 Managers Times Sq MC GRW-PR (IRA) 15000$ $15000
51 Morgan Stanley Instl Fd r Mid Cap Growth Port I (MPEGX) (IRA) 1 15000$ $15000
52 Morgan Stanley Instl Fd Tr Mid Cap Growth Port I (MPEGX) (IRA) 1 15000$ $15000
53 Morgan Stanley Instl Fd Trust Mid Cap Grwth Port CL 1 (IRA) 1 15000$ $15000
54 Morgan Stanley Instl Fd Trust Mid Cap Grwth Port CL 1 (IRA) 1 15000$ $15000
55 Openheimer Instl Fd Trust Mid Cap Grwth Port CL I (IRA) 1 15000$ $15000
56 Opennheimer Int Growth Fd CL Y (IRA) 1 15000$ $15000
57 Opennheimer In l Growth Fd CL Y (IRA) 1 15000$ $15000
58 Oppenhemier Dev Mkts CL Y (IRA) 1 15000$ $15000
59 Oppenhemier Dev Mkts CL Y (IRA) 1 15000$ $15000
60 Park Ave Portf lio RS Emerg Mkts Fd CLA (IRA) 15000$ $15000
61 Park Ave Port olio RS Emerg Mkts Fd CLA (IRA) 15000$ $15000
62 Pimco Fds PAC Int Mgmt Ser Comm Real Ret Strdt Instll CL (PTTRX) (IRA) 15000$ $15000
63 Pimco Fds PAC Int Mgmt Ser Comm Real Ret Strdt Instll CL (PTTRX) (IRA) 15000$ $15000
64 PIMCO Fds PAC Invt Mgmt Ser-Comm 15000$ $15000
65 Quantitative Grp Fds Foreign Value Fd Ord SHS (IRA) 15000$ $15000
66 Quantitative Grp Fds Foreign Value Fd Ord SHS (IRA) 15000$ $15000
67 RS Invt TR Emerging Mkts FD CL Y (IRA) 15000$ $15000
68 RS Invt TR Emerging Mkts FD CL Y (IRA) 15000$ $15000
69 RS Invt TR merging Mkts FD CL Y (IRA) 15000$ $15000
70 Security EQ Fd Mid Cap Value Ser CLA (SEVSX) (IRA) 1 15000$ $15000
71 Security EQ Fd Mid Cap Value Ser CLA (SEVSX) (IRA) 1 15000$ $15000
72 Security EQ Fd Mid Cap Value Ser CLA (SEVSX) (IRA) 1 15000$ $15000
73 Sensor 15000$ $15000
Page 2 of 3
Thomas S Ellis III Rembrandt v Facebook
13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010
Facebook Dark PoolsNo of Fund Entries 21
ValueIncome le $139 million
Alpha No Face
book
da
rk p
ools
fu
nd
J - $
0-15
000
K - $
150
01-5
000
0
L - $
500
01-1
000
00
M -
$100
001
-250
000
N -
$250
001
-500
000
O -
$500
001
-10
000
00
P1 -
$10
000
01-5
000
000
P2 -
$500
000
0-25
000
000
P3 -
425
000
001-
5000
000
0
P4 -
450
000
000+
Income and Value J K L M N O P1 P2 P3 P4
eg TRowePrice bought 52 of Facebook stock after SEC exemption (Source S-1)
74 Sentinel Mut Fds Small Co CL I (IRA) 15000$ $15000
75 Sentinel Mut Fds Small Co CL I (IRA) 15000$ $15000
76 T Rowe P ice Mid Cap Growth Fd (RPMGX) (IRA) 1 15000$ $15000
77 T Rowe P ice Mid Cap Growth Fd (RPMGX) (IRA) 1 15000$ $15000
78 Touchstone Large Cap Growth Fd CL I (TEQAX) (IRA) 1 15000$ $15000
79 Touchstone Large Cap Growth Fd CL I (TEQAX) (IRA) 1 15000$ $15000
80 Wachov a Bank Accts 50000$ $50000
81 Wells Fa go Adv End SL-I 15000$ $15000
82 Wells Fa go Adv End SL-I 15000$ $15000
83 Wells Fa go Fds Tr Small Cap Growth Fd Admin CL (IRA) 15000$ $15000
69 Wells Fa go Fds Tr Small Cap Growth Fd Admin CL (IRA) 15000$ $15000
Subtotal 29 1245000$ 50000$ -$ -$ -$ -$ -$ $1295000
Cumulative 1245000$ 1295000$ 1295000$ 1295000$ 1295000$ 1295000$ 1295000$
Summary of Facebook Club Basket Funds No Amt Invested (up to)
T Rowe Price 4 $60000
Blackrock 6 $90000
Oppenheimer 4 $60000
Morgan Stanley 4 $60000
Security EG (Guggenheim) 3 $45000
Total Dark Pools 21 $315000
NOTORIOUSLY PUBLIC INVESTMENTS REQUIRING DISCLOSURETRowe Price T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 http onlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442
Fidelity Fidelity s Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 http wwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtml
0 5 10 15 20 25
T Rowe Price
Blackrock
Oppenheimer
Morgan S anley
Security EG (Guggenheim)
Total Dark Pools
Thomas S Ellis III Rembrandt Social Media LP v Facebook Inc et al 13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010 Facebook Dark Pools Holdings
T Rowe Price Associates Inc (20) Facebook S-1 Registration
Shares Beneficially Owned Prior to this Offering p 129 fn 20
(2) Consists of (i) 6033630 shares of Class A common stock held of record by 81 funds and accounts advised or sub-advised by T Rowe Price Associates Inc and (ii) 12158743 shares of Class B common stock held of record by 77 funds and accounts advised or sub-advised by T Rowe Price Associates Inc T Rowe Price Associates Inc serves as investment adviser with power to direct investments andor sole power to vote the securities owned by these funds and accounts T Rowe Price Associates Inc may be deemed to be the beneficial owner of all the shares listed T Rowe Price Associates Inc is the wholly owned subsidiary of T Rowe Price Group Inc which is a publicly traded financial services holding company The address for T Rowe Price Associates Inc is 100 East Pratt Street Baltimore MD 21202
Page 3 of 3
Funds that do not qualify under the
safe harbor mutual fund exemption
from disclosure rule include
(1) most IRAs
(2) funds that issue regular reports where the judge knows
or should know the stocks in his portfolio
(3) funds with notoriously public activity (eg T Rowe
Price and Fidelity pre-IPO Facebook investing)
(4) undisclosed purchases of dark instruments which
conceal activity subject to transparency laws
(5) law firm 401(k) retirement accounts
(6) funds where stocks are held in the judges (or spouse)
name mdasheven one share and
(7) funds where there is an appearance of impropriety
Sources
Guide to Judiciary Policy Ethics amp Judicial Conduct Vol 2B Ch 2 see esp
Section 106 US Courts United States Department of Justice
lthttpwwwuscourtsgovuscourtsRulesAndPoliciesconductVol02B-
Ch02pdfgt
See also
lthttpsdocsgooglecomfiled0B2SfG2nEsMfqSVQ4dFUyWGNHS0Eeditgt
and lthttpwwwscribdcomdoc199638078Guide-to-Judiciary-Policy-Vol-
02-Ethics-and-Judicial-Conduct-Part-B-Ethics-Advisory-Opinions-Ch-02-
Published-Advisory-Opinions-acesssed-Jangt
11114 T Rowe Price Invests in Facebook - WSJcom
onlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442printMode 12
See a sample reprint in PDF
format
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TECHNOLOGY
T Rowe Price Invests in Facebook
Updated April 16 2011 1201 am ET
Mutual-fund company T Rowe Price Group Inc has invested in Facebook Inc according to recently
released filings underscoring traditional investment vehicles growing interest in hot technology companies
T Rowe invested a total of $1905 million in the social-
networking giant paying $25 a share for stock it distributed across nearly 20 funds according to the filings It
isnt immediately clear what value that puts on Facebook
The Baltimore-based mutual-fund company also disclosed an investment of $718 million in Zynga Inc and a
total stake of about $354 million in Angies List
T Rowe has been more aggressive than most of its mutual-fund peers in building exposure to young
technology companies The investments carry extra risk because the shares arent yet publicly traded and
can be illiquid Meanwhile a rush of interest in the companies has pumped up the companies valuations
even as they disclose little or no financial data
The investments however are a drop in the bucket for T
Rowe which is trying to manage that risk by keeping the
investments to a small percentage of each funds holdings
None of the funds has even a full percent of its holdings tied
up in Facebook for example T Rowe had $482 billion in
assets under management as of the end of 2010
Investors have been scrambling for a stake in Facebook
which is just seven years old and doesnt publicly report its
financial results In January Facebook was valued at $50
billion in a deal that raised $15 billion from investors such as
Goldman Sachs Group Inc and Russian investment firm
Digital Sky Technologies as well as some of Goldmans non-US clientsT Rowe has long taken aim at new
companies Its New Horizons Fund which doesnt currently have a stake in Facebook but has invested in
companies like Twitter Inc and Angies List is the third-oldest fund at the firm Born in 1960 the fund is
known for making longer-term investments in companies at their early stages including early investments in
Starbucks Corp and Wal-Mart Stores Inc Other T Rowe funds were early investors in Google Inc The fund
has had a return of 3467 in the 2010 calendar year according to Morningstar Inc
T Row e Price has invested millions in Facebook
underscoring traditional investment vehicles grow ing
interest in hot technology companies Mary Pilon joins
digits to discuss
By MARY PILON
11114 T Rove Price Imests in Facebook- VlSJcom
Recent trades on markets that allow investors to buy and sell shares in private companies have put a market
value of around $75 billion on the company
The Facebook investment complements other tech holdings at the firm including a 2009 stake in Twitter and
an investment in Groupon Inc made late last year In 2007 T Rowe made an initial investment in Ning and in
2010 invested in YouKucom
Among the T Rowe funds now invested in Facebook are the Science amp Technology Fund New America
Growth Fund Media amp Telecommunications Fund as well as broader funds including the Balanced Fund
Global Stock Fund and the Blue Chip Growth Fund T Rowes funds now have a total investment of $868
million in Groupon $666 million in Twitter and $1147 million in YouKucom according to the filings
T Rowe declined to comment on how the Facebook shares were purchased A Facebook spokesman
declined to comment
Geoffrey Fower contributed to this article
Corrections amp Amplifications
An earlier version of this online article incorrectly said T Rowe Price invested $554 million in Facebook and
$22 million in Angies List The firm invested $1905 million and $354 million respectively in the two
companies
Write to Mary Pilon at marypilonwsLcom
Copyright 2013 Dow Jones amp Company Inc All Rights Reserved This copy is for your personal non-commercial use only Distribution and use of this material are governed by our Sub9riber Agreement and by
copyright law For non-personal use or to order multiple copies please contact Dow Jones Reprints at 1-800-843-0008 or visit wwwdjreprintscom
onlinewsjcorrvnewsarticiesSB1000142405274870449500457626473014991 0442pri ntM ode 212
11114 Fidelitys Danoff Bets on F acebook Zyng a - BloorrtJerg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 8yMilesWeiss-Jun 1 2011
William Danoff the manager of Fidelity Investments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the US Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since September 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
Weare seeing m ore of these fund com panies em brace and adopt social media as som ething they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner of the worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund (FCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
WNWbloorrtJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 12
11114 Fidelitys Danoff Bets on Facebook Zynga - Bloorrberg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 11) M iJes Weiss - JlIn 120 I I
William Danoff the manager of Fidelity I nvestments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the us Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since Septem ber 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
We are seeing more ofthese fund companies embrace and adopt social media as something they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner ofthe worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund CFCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
JWIIINbloorrberg comnewspri ntl2011-06-01 lfidelity-s-danoff-bels-on-facebook-zyng a hlml 12
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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Oppenheimer Holdings Inc Annual Reports
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Thomas S Ellis III Rembrandt v Facebook
13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010
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000+
Income and Value J K L M N O P1 P2 P3 P4
eg TRowePrice bought 52 of Facebook stock after SEC exemption (Source S-1)
38 Harbor Intl Instl CL (IRA) 15000$ $15000
39 Harbor Intl Instl CL (IRA) 15000$ $15000
40 Harbor Intl Instl CL (IRA) 15000$ $15000
41 Hotchkiss amp Wiley Fds Mid Cap Value I (IRA) 15000$ $15000
42 Hotchkiss amp Wiley Mid Cap Value I (IRA) 15000$ $15000
43 Hotchkiss amp Wiley Mid Cap Value I (IRA) 15000$ $15000
44 John Hancock Classic Value Fd CL I (IRA) 15000$ $15000
45 John Hancock Classic Value Fd CL I (IRA) 15000$ $15000
46 John Hancock Classic Value Fd CL I (IRA) 15000$ $15000
47 Legg Mason Value Tr Inc Nav Value Trust (IRA) 15000$ $15000
48 Legg Mason Value Trust (IRA) 15000$ $15000
49 Legg Mason Value Trust ( RA) 15000$ $15000
50 Managers Times Sq MC GRW-PR (IRA) 15000$ $15000
51 Morgan Stanley Instl Fd r Mid Cap Growth Port I (MPEGX) (IRA) 1 15000$ $15000
52 Morgan Stanley Instl Fd Tr Mid Cap Growth Port I (MPEGX) (IRA) 1 15000$ $15000
53 Morgan Stanley Instl Fd Trust Mid Cap Grwth Port CL 1 (IRA) 1 15000$ $15000
54 Morgan Stanley Instl Fd Trust Mid Cap Grwth Port CL 1 (IRA) 1 15000$ $15000
55 Openheimer Instl Fd Trust Mid Cap Grwth Port CL I (IRA) 1 15000$ $15000
56 Opennheimer Int Growth Fd CL Y (IRA) 1 15000$ $15000
57 Opennheimer In l Growth Fd CL Y (IRA) 1 15000$ $15000
58 Oppenhemier Dev Mkts CL Y (IRA) 1 15000$ $15000
59 Oppenhemier Dev Mkts CL Y (IRA) 1 15000$ $15000
60 Park Ave Portf lio RS Emerg Mkts Fd CLA (IRA) 15000$ $15000
61 Park Ave Port olio RS Emerg Mkts Fd CLA (IRA) 15000$ $15000
62 Pimco Fds PAC Int Mgmt Ser Comm Real Ret Strdt Instll CL (PTTRX) (IRA) 15000$ $15000
63 Pimco Fds PAC Int Mgmt Ser Comm Real Ret Strdt Instll CL (PTTRX) (IRA) 15000$ $15000
64 PIMCO Fds PAC Invt Mgmt Ser-Comm 15000$ $15000
65 Quantitative Grp Fds Foreign Value Fd Ord SHS (IRA) 15000$ $15000
66 Quantitative Grp Fds Foreign Value Fd Ord SHS (IRA) 15000$ $15000
67 RS Invt TR Emerging Mkts FD CL Y (IRA) 15000$ $15000
68 RS Invt TR Emerging Mkts FD CL Y (IRA) 15000$ $15000
69 RS Invt TR merging Mkts FD CL Y (IRA) 15000$ $15000
70 Security EQ Fd Mid Cap Value Ser CLA (SEVSX) (IRA) 1 15000$ $15000
71 Security EQ Fd Mid Cap Value Ser CLA (SEVSX) (IRA) 1 15000$ $15000
72 Security EQ Fd Mid Cap Value Ser CLA (SEVSX) (IRA) 1 15000$ $15000
73 Sensor 15000$ $15000
Page 2 of 3
Thomas S Ellis III Rembrandt v Facebook
13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010
Facebook Dark PoolsNo of Fund Entries 21
ValueIncome le $139 million
Alpha No Face
book
da
rk p
ools
fu
nd
J - $
0-15
000
K - $
150
01-5
000
0
L - $
500
01-1
000
00
M -
$100
001
-250
000
N -
$250
001
-500
000
O -
$500
001
-10
000
00
P1 -
$10
000
01-5
000
000
P2 -
$500
000
0-25
000
000
P3 -
425
000
001-
5000
000
0
P4 -
450
000
000+
Income and Value J K L M N O P1 P2 P3 P4
eg TRowePrice bought 52 of Facebook stock after SEC exemption (Source S-1)
74 Sentinel Mut Fds Small Co CL I (IRA) 15000$ $15000
75 Sentinel Mut Fds Small Co CL I (IRA) 15000$ $15000
76 T Rowe P ice Mid Cap Growth Fd (RPMGX) (IRA) 1 15000$ $15000
77 T Rowe P ice Mid Cap Growth Fd (RPMGX) (IRA) 1 15000$ $15000
78 Touchstone Large Cap Growth Fd CL I (TEQAX) (IRA) 1 15000$ $15000
79 Touchstone Large Cap Growth Fd CL I (TEQAX) (IRA) 1 15000$ $15000
80 Wachov a Bank Accts 50000$ $50000
81 Wells Fa go Adv End SL-I 15000$ $15000
82 Wells Fa go Adv End SL-I 15000$ $15000
83 Wells Fa go Fds Tr Small Cap Growth Fd Admin CL (IRA) 15000$ $15000
69 Wells Fa go Fds Tr Small Cap Growth Fd Admin CL (IRA) 15000$ $15000
Subtotal 29 1245000$ 50000$ -$ -$ -$ -$ -$ $1295000
Cumulative 1245000$ 1295000$ 1295000$ 1295000$ 1295000$ 1295000$ 1295000$
Summary of Facebook Club Basket Funds No Amt Invested (up to)
T Rowe Price 4 $60000
Blackrock 6 $90000
Oppenheimer 4 $60000
Morgan Stanley 4 $60000
Security EG (Guggenheim) 3 $45000
Total Dark Pools 21 $315000
NOTORIOUSLY PUBLIC INVESTMENTS REQUIRING DISCLOSURETRowe Price T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 http onlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442
Fidelity Fidelity s Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 http wwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtml
0 5 10 15 20 25
T Rowe Price
Blackrock
Oppenheimer
Morgan S anley
Security EG (Guggenheim)
Total Dark Pools
Thomas S Ellis III Rembrandt Social Media LP v Facebook Inc et al 13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010 Facebook Dark Pools Holdings
T Rowe Price Associates Inc (20) Facebook S-1 Registration
Shares Beneficially Owned Prior to this Offering p 129 fn 20
(2) Consists of (i) 6033630 shares of Class A common stock held of record by 81 funds and accounts advised or sub-advised by T Rowe Price Associates Inc and (ii) 12158743 shares of Class B common stock held of record by 77 funds and accounts advised or sub-advised by T Rowe Price Associates Inc T Rowe Price Associates Inc serves as investment adviser with power to direct investments andor sole power to vote the securities owned by these funds and accounts T Rowe Price Associates Inc may be deemed to be the beneficial owner of all the shares listed T Rowe Price Associates Inc is the wholly owned subsidiary of T Rowe Price Group Inc which is a publicly traded financial services holding company The address for T Rowe Price Associates Inc is 100 East Pratt Street Baltimore MD 21202
Page 3 of 3
Funds that do not qualify under the
safe harbor mutual fund exemption
from disclosure rule include
(1) most IRAs
(2) funds that issue regular reports where the judge knows
or should know the stocks in his portfolio
(3) funds with notoriously public activity (eg T Rowe
Price and Fidelity pre-IPO Facebook investing)
(4) undisclosed purchases of dark instruments which
conceal activity subject to transparency laws
(5) law firm 401(k) retirement accounts
(6) funds where stocks are held in the judges (or spouse)
name mdasheven one share and
(7) funds where there is an appearance of impropriety
Sources
Guide to Judiciary Policy Ethics amp Judicial Conduct Vol 2B Ch 2 see esp
Section 106 US Courts United States Department of Justice
lthttpwwwuscourtsgovuscourtsRulesAndPoliciesconductVol02B-
Ch02pdfgt
See also
lthttpsdocsgooglecomfiled0B2SfG2nEsMfqSVQ4dFUyWGNHS0Eeditgt
and lthttpwwwscribdcomdoc199638078Guide-to-Judiciary-Policy-Vol-
02-Ethics-and-Judicial-Conduct-Part-B-Ethics-Advisory-Opinions-Ch-02-
Published-Advisory-Opinions-acesssed-Jangt
11114 T Rowe Price Invests in Facebook - WSJcom
onlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442printMode 12
See a sample reprint in PDF
format
Dow Jones Reprints This copy is for your personal non-commercial use only To order presentation-ready copies for distribution to your colleagues
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Order a reprint of this article now
TECHNOLOGY
T Rowe Price Invests in Facebook
Updated April 16 2011 1201 am ET
Mutual-fund company T Rowe Price Group Inc has invested in Facebook Inc according to recently
released filings underscoring traditional investment vehicles growing interest in hot technology companies
T Rowe invested a total of $1905 million in the social-
networking giant paying $25 a share for stock it distributed across nearly 20 funds according to the filings It
isnt immediately clear what value that puts on Facebook
The Baltimore-based mutual-fund company also disclosed an investment of $718 million in Zynga Inc and a
total stake of about $354 million in Angies List
T Rowe has been more aggressive than most of its mutual-fund peers in building exposure to young
technology companies The investments carry extra risk because the shares arent yet publicly traded and
can be illiquid Meanwhile a rush of interest in the companies has pumped up the companies valuations
even as they disclose little or no financial data
The investments however are a drop in the bucket for T
Rowe which is trying to manage that risk by keeping the
investments to a small percentage of each funds holdings
None of the funds has even a full percent of its holdings tied
up in Facebook for example T Rowe had $482 billion in
assets under management as of the end of 2010
Investors have been scrambling for a stake in Facebook
which is just seven years old and doesnt publicly report its
financial results In January Facebook was valued at $50
billion in a deal that raised $15 billion from investors such as
Goldman Sachs Group Inc and Russian investment firm
Digital Sky Technologies as well as some of Goldmans non-US clientsT Rowe has long taken aim at new
companies Its New Horizons Fund which doesnt currently have a stake in Facebook but has invested in
companies like Twitter Inc and Angies List is the third-oldest fund at the firm Born in 1960 the fund is
known for making longer-term investments in companies at their early stages including early investments in
Starbucks Corp and Wal-Mart Stores Inc Other T Rowe funds were early investors in Google Inc The fund
has had a return of 3467 in the 2010 calendar year according to Morningstar Inc
T Row e Price has invested millions in Facebook
underscoring traditional investment vehicles grow ing
interest in hot technology companies Mary Pilon joins
digits to discuss
By MARY PILON
11114 T Rove Price Imests in Facebook- VlSJcom
Recent trades on markets that allow investors to buy and sell shares in private companies have put a market
value of around $75 billion on the company
The Facebook investment complements other tech holdings at the firm including a 2009 stake in Twitter and
an investment in Groupon Inc made late last year In 2007 T Rowe made an initial investment in Ning and in
2010 invested in YouKucom
Among the T Rowe funds now invested in Facebook are the Science amp Technology Fund New America
Growth Fund Media amp Telecommunications Fund as well as broader funds including the Balanced Fund
Global Stock Fund and the Blue Chip Growth Fund T Rowes funds now have a total investment of $868
million in Groupon $666 million in Twitter and $1147 million in YouKucom according to the filings
T Rowe declined to comment on how the Facebook shares were purchased A Facebook spokesman
declined to comment
Geoffrey Fower contributed to this article
Corrections amp Amplifications
An earlier version of this online article incorrectly said T Rowe Price invested $554 million in Facebook and
$22 million in Angies List The firm invested $1905 million and $354 million respectively in the two
companies
Write to Mary Pilon at marypilonwsLcom
Copyright 2013 Dow Jones amp Company Inc All Rights Reserved This copy is for your personal non-commercial use only Distribution and use of this material are governed by our Sub9riber Agreement and by
copyright law For non-personal use or to order multiple copies please contact Dow Jones Reprints at 1-800-843-0008 or visit wwwdjreprintscom
onlinewsjcorrvnewsarticiesSB1000142405274870449500457626473014991 0442pri ntM ode 212
11114 Fidelitys Danoff Bets on F acebook Zyng a - BloorrtJerg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 8yMilesWeiss-Jun 1 2011
William Danoff the manager of Fidelity Investments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the US Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since September 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
Weare seeing m ore of these fund com panies em brace and adopt social media as som ething they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner of the worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund (FCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
WNWbloorrtJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 12
11114 Fidelitys Danoff Bets on Facebook Zynga - Bloorrberg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 11) M iJes Weiss - JlIn 120 I I
William Danoff the manager of Fidelity I nvestments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the us Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since Septem ber 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
We are seeing more ofthese fund companies embrace and adopt social media as something they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner ofthe worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund CFCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
JWIIINbloorrberg comnewspri ntl2011-06-01 lfidelity-s-danoff-bels-on-facebook-zyng a hlml 12
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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Each of the investment products (including the T Rowe Price mutual funds) or services referred to in the T Rowe Price Web site may be offered only to persons in the United
States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
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immediate so you dont have
to wait for the postal service
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helps keep fund expenses
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postage costs
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httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
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The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Thomas S Ellis III Rembrandt v Facebook
13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010
Facebook Dark PoolsNo of Fund Entries 21
ValueIncome le $139 million
Alpha No Face
book
da
rk p
ools
fu
nd
J - $
0-15
000
K - $
150
01-5
000
0
L - $
500
01-1
000
00
M -
$100
001
-250
000
N -
$250
001
-500
000
O -
$500
001
-10
000
00
P1 -
$10
000
01-5
000
000
P2 -
$500
000
0-25
000
000
P3 -
425
000
001-
5000
000
0
P4 -
450
000
000+
Income and Value J K L M N O P1 P2 P3 P4
eg TRowePrice bought 52 of Facebook stock after SEC exemption (Source S-1)
74 Sentinel Mut Fds Small Co CL I (IRA) 15000$ $15000
75 Sentinel Mut Fds Small Co CL I (IRA) 15000$ $15000
76 T Rowe P ice Mid Cap Growth Fd (RPMGX) (IRA) 1 15000$ $15000
77 T Rowe P ice Mid Cap Growth Fd (RPMGX) (IRA) 1 15000$ $15000
78 Touchstone Large Cap Growth Fd CL I (TEQAX) (IRA) 1 15000$ $15000
79 Touchstone Large Cap Growth Fd CL I (TEQAX) (IRA) 1 15000$ $15000
80 Wachov a Bank Accts 50000$ $50000
81 Wells Fa go Adv End SL-I 15000$ $15000
82 Wells Fa go Adv End SL-I 15000$ $15000
83 Wells Fa go Fds Tr Small Cap Growth Fd Admin CL (IRA) 15000$ $15000
69 Wells Fa go Fds Tr Small Cap Growth Fd Admin CL (IRA) 15000$ $15000
Subtotal 29 1245000$ 50000$ -$ -$ -$ -$ -$ $1295000
Cumulative 1245000$ 1295000$ 1295000$ 1295000$ 1295000$ 1295000$ 1295000$
Summary of Facebook Club Basket Funds No Amt Invested (up to)
T Rowe Price 4 $60000
Blackrock 6 $90000
Oppenheimer 4 $60000
Morgan Stanley 4 $60000
Security EG (Guggenheim) 3 $45000
Total Dark Pools 21 $315000
NOTORIOUSLY PUBLIC INVESTMENTS REQUIRING DISCLOSURETRowe Price T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 http onlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442
Fidelity Fidelity s Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 http wwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtml
0 5 10 15 20 25
T Rowe Price
Blackrock
Oppenheimer
Morgan S anley
Security EG (Guggenheim)
Total Dark Pools
Thomas S Ellis III Rembrandt Social Media LP v Facebook Inc et al 13-cv-00158-TSE-TRJ (ED Va)
Financial Disclosure 2010 Facebook Dark Pools Holdings
T Rowe Price Associates Inc (20) Facebook S-1 Registration
Shares Beneficially Owned Prior to this Offering p 129 fn 20
(2) Consists of (i) 6033630 shares of Class A common stock held of record by 81 funds and accounts advised or sub-advised by T Rowe Price Associates Inc and (ii) 12158743 shares of Class B common stock held of record by 77 funds and accounts advised or sub-advised by T Rowe Price Associates Inc T Rowe Price Associates Inc serves as investment adviser with power to direct investments andor sole power to vote the securities owned by these funds and accounts T Rowe Price Associates Inc may be deemed to be the beneficial owner of all the shares listed T Rowe Price Associates Inc is the wholly owned subsidiary of T Rowe Price Group Inc which is a publicly traded financial services holding company The address for T Rowe Price Associates Inc is 100 East Pratt Street Baltimore MD 21202
Page 3 of 3
Funds that do not qualify under the
safe harbor mutual fund exemption
from disclosure rule include
(1) most IRAs
(2) funds that issue regular reports where the judge knows
or should know the stocks in his portfolio
(3) funds with notoriously public activity (eg T Rowe
Price and Fidelity pre-IPO Facebook investing)
(4) undisclosed purchases of dark instruments which
conceal activity subject to transparency laws
(5) law firm 401(k) retirement accounts
(6) funds where stocks are held in the judges (or spouse)
name mdasheven one share and
(7) funds where there is an appearance of impropriety
Sources
Guide to Judiciary Policy Ethics amp Judicial Conduct Vol 2B Ch 2 see esp
Section 106 US Courts United States Department of Justice
lthttpwwwuscourtsgovuscourtsRulesAndPoliciesconductVol02B-
Ch02pdfgt
See also
lthttpsdocsgooglecomfiled0B2SfG2nEsMfqSVQ4dFUyWGNHS0Eeditgt
and lthttpwwwscribdcomdoc199638078Guide-to-Judiciary-Policy-Vol-
02-Ethics-and-Judicial-Conduct-Part-B-Ethics-Advisory-Opinions-Ch-02-
Published-Advisory-Opinions-acesssed-Jangt
11114 T Rowe Price Invests in Facebook - WSJcom
onlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442printMode 12
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format
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TECHNOLOGY
T Rowe Price Invests in Facebook
Updated April 16 2011 1201 am ET
Mutual-fund company T Rowe Price Group Inc has invested in Facebook Inc according to recently
released filings underscoring traditional investment vehicles growing interest in hot technology companies
T Rowe invested a total of $1905 million in the social-
networking giant paying $25 a share for stock it distributed across nearly 20 funds according to the filings It
isnt immediately clear what value that puts on Facebook
The Baltimore-based mutual-fund company also disclosed an investment of $718 million in Zynga Inc and a
total stake of about $354 million in Angies List
T Rowe has been more aggressive than most of its mutual-fund peers in building exposure to young
technology companies The investments carry extra risk because the shares arent yet publicly traded and
can be illiquid Meanwhile a rush of interest in the companies has pumped up the companies valuations
even as they disclose little or no financial data
The investments however are a drop in the bucket for T
Rowe which is trying to manage that risk by keeping the
investments to a small percentage of each funds holdings
None of the funds has even a full percent of its holdings tied
up in Facebook for example T Rowe had $482 billion in
assets under management as of the end of 2010
Investors have been scrambling for a stake in Facebook
which is just seven years old and doesnt publicly report its
financial results In January Facebook was valued at $50
billion in a deal that raised $15 billion from investors such as
Goldman Sachs Group Inc and Russian investment firm
Digital Sky Technologies as well as some of Goldmans non-US clientsT Rowe has long taken aim at new
companies Its New Horizons Fund which doesnt currently have a stake in Facebook but has invested in
companies like Twitter Inc and Angies List is the third-oldest fund at the firm Born in 1960 the fund is
known for making longer-term investments in companies at their early stages including early investments in
Starbucks Corp and Wal-Mart Stores Inc Other T Rowe funds were early investors in Google Inc The fund
has had a return of 3467 in the 2010 calendar year according to Morningstar Inc
T Row e Price has invested millions in Facebook
underscoring traditional investment vehicles grow ing
interest in hot technology companies Mary Pilon joins
digits to discuss
By MARY PILON
11114 T Rove Price Imests in Facebook- VlSJcom
Recent trades on markets that allow investors to buy and sell shares in private companies have put a market
value of around $75 billion on the company
The Facebook investment complements other tech holdings at the firm including a 2009 stake in Twitter and
an investment in Groupon Inc made late last year In 2007 T Rowe made an initial investment in Ning and in
2010 invested in YouKucom
Among the T Rowe funds now invested in Facebook are the Science amp Technology Fund New America
Growth Fund Media amp Telecommunications Fund as well as broader funds including the Balanced Fund
Global Stock Fund and the Blue Chip Growth Fund T Rowes funds now have a total investment of $868
million in Groupon $666 million in Twitter and $1147 million in YouKucom according to the filings
T Rowe declined to comment on how the Facebook shares were purchased A Facebook spokesman
declined to comment
Geoffrey Fower contributed to this article
Corrections amp Amplifications
An earlier version of this online article incorrectly said T Rowe Price invested $554 million in Facebook and
$22 million in Angies List The firm invested $1905 million and $354 million respectively in the two
companies
Write to Mary Pilon at marypilonwsLcom
Copyright 2013 Dow Jones amp Company Inc All Rights Reserved This copy is for your personal non-commercial use only Distribution and use of this material are governed by our Sub9riber Agreement and by
copyright law For non-personal use or to order multiple copies please contact Dow Jones Reprints at 1-800-843-0008 or visit wwwdjreprintscom
onlinewsjcorrvnewsarticiesSB1000142405274870449500457626473014991 0442pri ntM ode 212
11114 Fidelitys Danoff Bets on F acebook Zyng a - BloorrtJerg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 8yMilesWeiss-Jun 1 2011
William Danoff the manager of Fidelity Investments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the US Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since September 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
Weare seeing m ore of these fund com panies em brace and adopt social media as som ething they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner of the worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund (FCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
WNWbloorrtJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 12
11114 Fidelitys Danoff Bets on Facebook Zynga - Bloorrberg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 11) M iJes Weiss - JlIn 120 I I
William Danoff the manager of Fidelity I nvestments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the us Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since Septem ber 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
We are seeing more ofthese fund companies embrace and adopt social media as something they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner ofthe worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund CFCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
JWIIINbloorrberg comnewspri ntl2011-06-01 lfidelity-s-danoff-bels-on-facebook-zyng a hlml 12
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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to contact that firm for information on the delivery of any materials
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immediate so you dont have
to wait for the postal service
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helps keep fund expenses
lower eliminating paper and
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to the environment
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copy 2013 BlackRock Inc All rights reserved I
httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Presentations
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Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
Direct Share Purchase and Dividend Reinvestment Program (DRIP)
Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
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The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Funds that do not qualify under the
safe harbor mutual fund exemption
from disclosure rule include
(1) most IRAs
(2) funds that issue regular reports where the judge knows
or should know the stocks in his portfolio
(3) funds with notoriously public activity (eg T Rowe
Price and Fidelity pre-IPO Facebook investing)
(4) undisclosed purchases of dark instruments which
conceal activity subject to transparency laws
(5) law firm 401(k) retirement accounts
(6) funds where stocks are held in the judges (or spouse)
name mdasheven one share and
(7) funds where there is an appearance of impropriety
Sources
Guide to Judiciary Policy Ethics amp Judicial Conduct Vol 2B Ch 2 see esp
Section 106 US Courts United States Department of Justice
lthttpwwwuscourtsgovuscourtsRulesAndPoliciesconductVol02B-
Ch02pdfgt
See also
lthttpsdocsgooglecomfiled0B2SfG2nEsMfqSVQ4dFUyWGNHS0Eeditgt
and lthttpwwwscribdcomdoc199638078Guide-to-Judiciary-Policy-Vol-
02-Ethics-and-Judicial-Conduct-Part-B-Ethics-Advisory-Opinions-Ch-02-
Published-Advisory-Opinions-acesssed-Jangt
11114 T Rowe Price Invests in Facebook - WSJcom
onlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442printMode 12
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TECHNOLOGY
T Rowe Price Invests in Facebook
Updated April 16 2011 1201 am ET
Mutual-fund company T Rowe Price Group Inc has invested in Facebook Inc according to recently
released filings underscoring traditional investment vehicles growing interest in hot technology companies
T Rowe invested a total of $1905 million in the social-
networking giant paying $25 a share for stock it distributed across nearly 20 funds according to the filings It
isnt immediately clear what value that puts on Facebook
The Baltimore-based mutual-fund company also disclosed an investment of $718 million in Zynga Inc and a
total stake of about $354 million in Angies List
T Rowe has been more aggressive than most of its mutual-fund peers in building exposure to young
technology companies The investments carry extra risk because the shares arent yet publicly traded and
can be illiquid Meanwhile a rush of interest in the companies has pumped up the companies valuations
even as they disclose little or no financial data
The investments however are a drop in the bucket for T
Rowe which is trying to manage that risk by keeping the
investments to a small percentage of each funds holdings
None of the funds has even a full percent of its holdings tied
up in Facebook for example T Rowe had $482 billion in
assets under management as of the end of 2010
Investors have been scrambling for a stake in Facebook
which is just seven years old and doesnt publicly report its
financial results In January Facebook was valued at $50
billion in a deal that raised $15 billion from investors such as
Goldman Sachs Group Inc and Russian investment firm
Digital Sky Technologies as well as some of Goldmans non-US clientsT Rowe has long taken aim at new
companies Its New Horizons Fund which doesnt currently have a stake in Facebook but has invested in
companies like Twitter Inc and Angies List is the third-oldest fund at the firm Born in 1960 the fund is
known for making longer-term investments in companies at their early stages including early investments in
Starbucks Corp and Wal-Mart Stores Inc Other T Rowe funds were early investors in Google Inc The fund
has had a return of 3467 in the 2010 calendar year according to Morningstar Inc
T Row e Price has invested millions in Facebook
underscoring traditional investment vehicles grow ing
interest in hot technology companies Mary Pilon joins
digits to discuss
By MARY PILON
11114 T Rove Price Imests in Facebook- VlSJcom
Recent trades on markets that allow investors to buy and sell shares in private companies have put a market
value of around $75 billion on the company
The Facebook investment complements other tech holdings at the firm including a 2009 stake in Twitter and
an investment in Groupon Inc made late last year In 2007 T Rowe made an initial investment in Ning and in
2010 invested in YouKucom
Among the T Rowe funds now invested in Facebook are the Science amp Technology Fund New America
Growth Fund Media amp Telecommunications Fund as well as broader funds including the Balanced Fund
Global Stock Fund and the Blue Chip Growth Fund T Rowes funds now have a total investment of $868
million in Groupon $666 million in Twitter and $1147 million in YouKucom according to the filings
T Rowe declined to comment on how the Facebook shares were purchased A Facebook spokesman
declined to comment
Geoffrey Fower contributed to this article
Corrections amp Amplifications
An earlier version of this online article incorrectly said T Rowe Price invested $554 million in Facebook and
$22 million in Angies List The firm invested $1905 million and $354 million respectively in the two
companies
Write to Mary Pilon at marypilonwsLcom
Copyright 2013 Dow Jones amp Company Inc All Rights Reserved This copy is for your personal non-commercial use only Distribution and use of this material are governed by our Sub9riber Agreement and by
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onlinewsjcorrvnewsarticiesSB1000142405274870449500457626473014991 0442pri ntM ode 212
11114 Fidelitys Danoff Bets on F acebook Zyng a - BloorrtJerg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 8yMilesWeiss-Jun 1 2011
William Danoff the manager of Fidelity Investments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the US Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since September 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
Weare seeing m ore of these fund com panies em brace and adopt social media as som ething they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner of the worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund (FCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
WNWbloorrtJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 12
11114 Fidelitys Danoff Bets on Facebook Zynga - Bloorrberg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 11) M iJes Weiss - JlIn 120 I I
William Danoff the manager of Fidelity I nvestments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the us Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since Septem ber 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
We are seeing more ofthese fund companies embrace and adopt social media as something they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner ofthe worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund CFCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
JWIIINbloorrberg comnewspri ntl2011-06-01 lfidelity-s-danoff-bels-on-facebook-zyng a hlml 12
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
Mutual Funds
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Portfolio Holdings
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~ Print [S] Email h Text size lt Share
All T Rowe Price mutual funds are offered by prospectus only Mutual fund prospectuses fiem~m7T(f1r1jJjjeamS7isJltS--n~-eDefigte~a nd other in formation tha t you
or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
Expand all Collapse all
Domestic Stock Fund Prospectuses amp Reports
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Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
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The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
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The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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11114 T Rowe Price Invests in Facebook - WSJcom
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TECHNOLOGY
T Rowe Price Invests in Facebook
Updated April 16 2011 1201 am ET
Mutual-fund company T Rowe Price Group Inc has invested in Facebook Inc according to recently
released filings underscoring traditional investment vehicles growing interest in hot technology companies
T Rowe invested a total of $1905 million in the social-
networking giant paying $25 a share for stock it distributed across nearly 20 funds according to the filings It
isnt immediately clear what value that puts on Facebook
The Baltimore-based mutual-fund company also disclosed an investment of $718 million in Zynga Inc and a
total stake of about $354 million in Angies List
T Rowe has been more aggressive than most of its mutual-fund peers in building exposure to young
technology companies The investments carry extra risk because the shares arent yet publicly traded and
can be illiquid Meanwhile a rush of interest in the companies has pumped up the companies valuations
even as they disclose little or no financial data
The investments however are a drop in the bucket for T
Rowe which is trying to manage that risk by keeping the
investments to a small percentage of each funds holdings
None of the funds has even a full percent of its holdings tied
up in Facebook for example T Rowe had $482 billion in
assets under management as of the end of 2010
Investors have been scrambling for a stake in Facebook
which is just seven years old and doesnt publicly report its
financial results In January Facebook was valued at $50
billion in a deal that raised $15 billion from investors such as
Goldman Sachs Group Inc and Russian investment firm
Digital Sky Technologies as well as some of Goldmans non-US clientsT Rowe has long taken aim at new
companies Its New Horizons Fund which doesnt currently have a stake in Facebook but has invested in
companies like Twitter Inc and Angies List is the third-oldest fund at the firm Born in 1960 the fund is
known for making longer-term investments in companies at their early stages including early investments in
Starbucks Corp and Wal-Mart Stores Inc Other T Rowe funds were early investors in Google Inc The fund
has had a return of 3467 in the 2010 calendar year according to Morningstar Inc
T Row e Price has invested millions in Facebook
underscoring traditional investment vehicles grow ing
interest in hot technology companies Mary Pilon joins
digits to discuss
By MARY PILON
11114 T Rove Price Imests in Facebook- VlSJcom
Recent trades on markets that allow investors to buy and sell shares in private companies have put a market
value of around $75 billion on the company
The Facebook investment complements other tech holdings at the firm including a 2009 stake in Twitter and
an investment in Groupon Inc made late last year In 2007 T Rowe made an initial investment in Ning and in
2010 invested in YouKucom
Among the T Rowe funds now invested in Facebook are the Science amp Technology Fund New America
Growth Fund Media amp Telecommunications Fund as well as broader funds including the Balanced Fund
Global Stock Fund and the Blue Chip Growth Fund T Rowes funds now have a total investment of $868
million in Groupon $666 million in Twitter and $1147 million in YouKucom according to the filings
T Rowe declined to comment on how the Facebook shares were purchased A Facebook spokesman
declined to comment
Geoffrey Fower contributed to this article
Corrections amp Amplifications
An earlier version of this online article incorrectly said T Rowe Price invested $554 million in Facebook and
$22 million in Angies List The firm invested $1905 million and $354 million respectively in the two
companies
Write to Mary Pilon at marypilonwsLcom
Copyright 2013 Dow Jones amp Company Inc All Rights Reserved This copy is for your personal non-commercial use only Distribution and use of this material are governed by our Sub9riber Agreement and by
copyright law For non-personal use or to order multiple copies please contact Dow Jones Reprints at 1-800-843-0008 or visit wwwdjreprintscom
onlinewsjcorrvnewsarticiesSB1000142405274870449500457626473014991 0442pri ntM ode 212
11114 Fidelitys Danoff Bets on F acebook Zyng a - BloorrtJerg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 8yMilesWeiss-Jun 1 2011
William Danoff the manager of Fidelity Investments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the US Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since September 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
Weare seeing m ore of these fund com panies em brace and adopt social media as som ething they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner of the worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund (FCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
WNWbloorrtJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 12
11114 Fidelitys Danoff Bets on Facebook Zynga - Bloorrberg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 11) M iJes Weiss - JlIn 120 I I
William Danoff the manager of Fidelity I nvestments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the us Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since Septem ber 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
We are seeing more ofthese fund companies embrace and adopt social media as something they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner ofthe worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund CFCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
JWIIINbloorrberg comnewspri ntl2011-06-01 lfidelity-s-danoff-bels-on-facebook-zyng a hlml 12
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
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immediate so you dont have
to wait for the postal service
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Presentations
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Contacts
FAQs
Frequently Asked Questions
Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
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Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
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The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
11114 T Rove Price Imests in Facebook- VlSJcom
Recent trades on markets that allow investors to buy and sell shares in private companies have put a market
value of around $75 billion on the company
The Facebook investment complements other tech holdings at the firm including a 2009 stake in Twitter and
an investment in Groupon Inc made late last year In 2007 T Rowe made an initial investment in Ning and in
2010 invested in YouKucom
Among the T Rowe funds now invested in Facebook are the Science amp Technology Fund New America
Growth Fund Media amp Telecommunications Fund as well as broader funds including the Balanced Fund
Global Stock Fund and the Blue Chip Growth Fund T Rowes funds now have a total investment of $868
million in Groupon $666 million in Twitter and $1147 million in YouKucom according to the filings
T Rowe declined to comment on how the Facebook shares were purchased A Facebook spokesman
declined to comment
Geoffrey Fower contributed to this article
Corrections amp Amplifications
An earlier version of this online article incorrectly said T Rowe Price invested $554 million in Facebook and
$22 million in Angies List The firm invested $1905 million and $354 million respectively in the two
companies
Write to Mary Pilon at marypilonwsLcom
Copyright 2013 Dow Jones amp Company Inc All Rights Reserved This copy is for your personal non-commercial use only Distribution and use of this material are governed by our Sub9riber Agreement and by
copyright law For non-personal use or to order multiple copies please contact Dow Jones Reprints at 1-800-843-0008 or visit wwwdjreprintscom
onlinewsjcorrvnewsarticiesSB1000142405274870449500457626473014991 0442pri ntM ode 212
11114 Fidelitys Danoff Bets on F acebook Zyng a - BloorrtJerg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 8yMilesWeiss-Jun 1 2011
William Danoff the manager of Fidelity Investments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the US Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since September 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
Weare seeing m ore of these fund com panies em brace and adopt social media as som ething they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner of the worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund (FCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
WNWbloorrtJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 12
11114 Fidelitys Danoff Bets on Facebook Zynga - Bloorrberg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 11) M iJes Weiss - JlIn 120 I I
William Danoff the manager of Fidelity I nvestments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the us Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since Septem ber 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
We are seeing more ofthese fund companies embrace and adopt social media as something they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner ofthe worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund CFCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
JWIIINbloorrberg comnewspri ntl2011-06-01 lfidelity-s-danoff-bels-on-facebook-zyng a hlml 12
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
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communications Whenever a document is issued we will automatically alert you via
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to contact that firm for information on the delivery of any materials
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immediate so you dont have
to wait for the postal service
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helps keep fund expenses
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
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stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
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and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
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Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
11114 Fidelitys Danoff Bets on F acebook Zyng a - BloorrtJerg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 8yMilesWeiss-Jun 1 2011
William Danoff the manager of Fidelity Investments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the US Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since September 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
Weare seeing m ore of these fund com panies em brace and adopt social media as som ething they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner of the worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund (FCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
WNWbloorrtJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 12
11114 Fidelitys Danoff Bets on Facebook Zynga - Bloorrberg
Bloomberg
Fidelitys Danoff Bets on Facebook Zynga 11) M iJes Weiss - JlIn 120 I I
William Danoff the manager of Fidelity I nvestments largest stock fund established a toehold in the
social-networking industry during the first quarter by acquiring shares of Facebook Inc and Zynga
Inc
Danoffs Fidelity Contrafund invested $74 million in Facebook Class B common shares and $82
million in Zynga convertible preferred stock according to a quarterly report the fund filed yesterday
with the us Securities and Exchange Commission Danoff 50 has managed the $80 billion Fidelity
Contrafund since Septem ber 1990
Fidelity and rivals T Rowe Price Group Inc and Capital Group Cos are snapping up stakes in socialshy
networking companies before they go public after the mutual-fund industry avoided privately traded
stocks for years Boston-based Fidelity and Baltimores T Rowe Price may recognize an opportunity
as a growing percentage of clients access their fund holdings through Facebook said Geoff Bobroff a
fund consultant in East Greenwich Rhode Island
We are seeing more ofthese fund companies embrace and adopt social media as something they are
providing to their shareholders Bobroff said today in an interview Its somewhat logical they would
think there is value
Vincent Loporchio a spokesman for Fidelity said more than 30 of its funds held Facebook shares as
of April 30 No fund had more than 015 percent of its assets invested in Facebook according to
Loporchio who declined to comment further
T Rowe American
T Rowe Price reported in April that 19 of its mutual funds invested at least $191 million during the
first quarter in Facebook the Palo Alto California-based owner ofthe worlds most popular socialshy
networking website American Funds Growth Fund of America a $168 billion stock fund overseen by
Los Angeles-based Capital Group invested $665 million on Feb 18 in Zynga the largest maker of
games on Facebook according to an April 29 filing
Fidelity Contrafund CFCNTX) averaged annual gains of 7 percent over the past 10 years to beat 99
JWIIINbloorrberg comnewspri ntl2011-06-01 lfidelity-s-danoff-bels-on-facebook-zyng a hlml 12
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Transferring Shares of Morgan Stanley Stock
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Tax Cost Basis Worksheet
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Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
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raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
11114 Fidelitys Danoff Bets on F acebook Zyng a - BlooniJerg
percent of its large-capitalization growth stock peers according to Chicago-based research firm
Morningstar Inc
Danoffs fund aims to invest in stocks whose value hasnt been fully recognized by the public At the
end of last year it had about 33 percent of net assets in information technology shares including a
$53 billion stake in Apple Inc (AAPL) and $38 billion in Google Inc
The fund acquired 297 million Facebook shares during the first quarter for about $25 each the same
price T Rowe Price reported paying according to yesterdays filing Facebook in January said it had
raised $15 billion from investors led by Goldman Sachs Group Inc (GS) placing a $50 billion
valuation on the closely held business at the time
Convertible Preferred Shares
Fidelity Contrafund also bought its Zynga convertible preferred stock on Feb 18 according to
yesterdays filing Zynga held talks in February with T Rowe Price and Fidelity about selling shares at
a price that implied the companys market value was close to $10 billion two people familiar with the
situation said at the time
Facebook and Zynga last year laid the groundwork for initial public offerings by im posing fees on
employees who sell their shares Zynga may file for an IPO by the end of June a person familiar with
the plans said last week
To contact the reporter on this story Miles Weiss in Washington at mweissbloombergnet
To contact the editor responsible for this story Christian Baumgaertel at
cba umgaertelbloombergnet
reg2014 BLOOMBERG LP ALL RIGHTS RESERVED
WNWblooniJerg comtnewspri ntl2011-06-01 fidelity-s-danoff-bets-on-facebook-zyng a html 212
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
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or the econom
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You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
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httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
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to wait for the postal service
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
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Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-1-
BlackRock Large Cap Core Plus Instl
BILPX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Schedule of Investments (continued)
BlackRock Large Cap Core Plus Fund (Percentages shown are based on Net Assets)
Investments Sold Short Shares Value
Gas Utilities mdash (07)
AGL Resources Inc 2870 $ (120397 )
ONEOK Inc 2560 (122035 )
(242432 )
Health Care Equipment amp Supplies mdash (03) Hologic Inc 5210 (117746 )
Health Care Providers amp Services mdash (03)
Brookdale Senior Living Inc 4030 (112356 )
Household Durables mdash (03) Toll Brothers Inc 3320 (113677 )
Insurance mdash (03)
Erie Indemnity Co Class A 1550 (117072 )
Internet amp Catalog Retail mdash (04) Groupon Inc
20580 (125950 )
Internet Software amp Services mdash (03)
Facebook Inc Class A 4160 (106413 )
Software mdash (19) Concur Technologies Inc 1650 (113289 ) Informatica Corp 3330 (114785 ) NetSuite Inc 1590 (127295 ) Salesforcecom Inc 630 (112663 ) ServiceNow Inc 3330 (120546 ) Zynga Inc Class A 32780 (110141 )
(698719 ) Diversified Financial Services mdash 112
Bank of America Corp 110500 1345890 Citigroup Inc 29160 1290038 JPMorgan Chase amp Co 30293 1437706
4073634
Relationship to Facebook (Conflict of Interest)
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia)) Facebookrsquos
largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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immediate so you dont have
to wait for the postal service
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helps keep fund expenses
lower eliminating paper and
postage costs
Its more convenient Delivered straight to your
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to the environment
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copy 2013 BlackRock Inc All rights reserved I
httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Presentations
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Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
Direct Share Purchase and Dividend Reinvestment Program (DRIP)
Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
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The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
FEDERAL COURTS RULES amp POLICIES JUDGES amp JUDGESHIPS STATISTICS FORMS amp FEES COURT RECORDS EDUCATIONAL RESOURCES NEWS
Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingSemi-Annual-Report2013331taspxt=BILPXampft=N-CSRSampd=ca3cc17e46e9b247078ea1db386fa0f4
-2-
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon Zynga -- It is notoriously known that
Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Zynga Inc
It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
JPMorgan Notoriously known to be a Facebook underwriter
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
Mutual Funds
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Portfolio Holdings
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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communications Whenever a document is issued we will automatically alert you via
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to contact that firm for information on the delivery of any materials
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immediate so you dont have
to wait for the postal service
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
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Annual Report Request
Transferring Shares of Morgan Stanley Stock
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Tax Cost Basis Worksheet
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Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments Mid Cap Growth Portfolio
Shares Value (000)
Common Stocks (957)
Advertising Agencies (10)
Aimia Inc (Canada)4426661 $ 77141
Alternative Energy (14)
Range Resources Corp 944472 71676
Ultra Petroleum Corp (a)(b) 1641564 33767
105443
Automobiles (30)
Tesla Motors Inc (a)(b) 1124091 217422
Beverage Soft Drinks (13)
Monster Beverage Corp (a) 1784202 93225
Biotechnology (39)
Illumina Inc (a) 3540261 286159
Cable Television Services (10) Charter Communications Inc Class A (a) 575164 77509
Cement (20)
Martin Marietta Materials Inc (b) 1494272 146693
Chemicals Diversified (10)
Rockwood Holdings Inc 1087525 72755
Commercial Services (60)
Gartner Inc (a) 3114293 186857 Intertek Group PLC (United Kingdom) 3428653 183389
MercadoLibre Inc (Brazil) (b) 518974 70015
440261
Communications Technology (36)
Mailru Group Ltd GDR (Russia) 1093623 41779
Motorola Solutions Inc 3774905 224154
265933
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
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immediate so you dont have
to wait for the postal service
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Morgan Stanley - Investor Relations
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Annual Report Request
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Tax Cost Basis Worksheet
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Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
FEDERAL COURTS RULES amp POLICIES JUDGES amp JUDGESHIPS STATISTICS FORMS amp FEES COURT RECORDS EDUCATIONAL RESOURCES NEWS
Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Computer Services Software amp Systems (167)
Akamai Technologies Inc (a) 4183283 216276
IHS Inc Class A (a) 1617617 184699
LinkedIn Corp Class A (a) 801244 197154
NetSuite Inc (a) 712225 76878 Qihoo 360 Technology Co Ltd ADR (China) (a) 1623406 135067
ServiceNow Inc (a) 933846 48513
SINA Corp (China) (a) 532060 43187
Solera Holdings Inc 3892938 205820
Workday Inc Class A (a) 970403 78535
Zynga Inc Class A (a) 10962239 40341
1226470
Computer Technology (46) Dropbox Inc (a)(c)(d) (acquisition cost mdash $33909 acquired 5112)
3747173 43092
Yandex NV Class A (Russia) (a) 5405840 196881
Youku Tudou Inc ADR (China) (a) 3700222 101386
341359
Consumer Services Miscellaneous (18)
FleetCor Technologies Inc (a) 693140 76356
Qualicorp SA (Brazil) (a) 6435998 58805
135161
Shares Value (000)
Diversified Manufacturing Operations (09)
Colfax Corp (a)1223968 $ 69142
Diversified Retail (56)
Dollar Tree Inc (a) 3275772 187243
Groupon Inc (a) 16840401 188781
TripAdvisor Inc (a) 496656 37666
413690
Electronic Components (07)
3D Systems Corp (a)(b) 931270 50279
Electronic Entertainment (08)
Splunk Inc (a) 943871 56670
Entertainment (07) Legend Pictures LLC Ltd (a)(c)(d) (acquisition cost mdash $38812 acquired 3812)
36302 54254
Financial Data amp Systems (40)
MSCI Inc (a) 4659430 187589
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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communications Whenever a document is issued we will automatically alert you via
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to contact that firm for information on the delivery of any materials
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immediate so you dont have
to wait for the postal service
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lower eliminating paper and
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
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Annual Report Request
Transferring Shares of Morgan Stanley Stock
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Tax Cost Basis Worksheet
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Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
FEDERAL COURTS RULES amp POLICIES JUDGES amp JUDGESHIPS STATISTICS FORMS amp FEES COURT RECORDS EDUCATIONAL RESOURCES NEWS
Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Verisk Analytics Inc Class A (a) 1603887 104188
291777
Foods (20)
McCormick amp Co Inc 2321463 150199
Health Care Services (40)
athenahealth Inc (a) 1764383 191541
Stericycle Inc (a) 868527 100228
291769
HotelMotel (09)
Wyndham Worldwide Corp 1047810 63885
Insurance Property-Casualty (47)
Arch Capital Group Ltd (a) 2889617 156415
Progressive Corp (The) 7012246 190943
347358
Medical Equipment (28)
Intuitive Surgical Inc (a) 547393 205968
Personal Care (04)
Sally Beauty Holdings Inc (a) 1112867 29113
Pharmaceuticals (45)
Endo Health Solutions Inc (a) 1723448 78313
Ironwood Pharmaceuticals Inc (a) 3709663 43960
Mead Johnson Nutrition Co 2779470 206403
328676
Publishing (14)
Morningstar Inc 1306873 103583
Recreational Vehicles amp Boats (31)
Edenred (France) 6968501 226319
Restaurants (37)
Dunkin Brands Group Inc 2471303 111851
Panera Bread Co Class A (a) 1022492 162096
273947
Scientific Instruments Pollution Control (13)
Covanta Holding Corp 4640780 99220
The accompanying notes are an integral part of the financial statements
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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immediate so you dont have
to wait for the postal service
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lower eliminating paper and
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to the environment
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copy 2013 BlackRock Inc All rights reserved I
httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Presentations
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Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
Direct Share Purchase and Dividend Reinvestment Program (DRIP)
Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
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gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
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Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
Morgan Stanley Institutional Fund Trust Annual Report mdash September 30 2013
Portfolio of Investments (contd) Mid Cap Growth Portfolio
Shares Value (000)
Semiconductors amp Components (13)
First Solar Inc (a)(b)2368687 $ 95245
Specialty Retail (11) Ulta Salon Cosmetics amp Fragrance Inc (a) 689875 82412
Textiles Apparel amp Shoes (32)
Carters Inc 2560835 194342
Under Armour Inc Class A (a) 489164 38864
233206
Utilities Electrical (13) Brookfield Infrastructure Partners LP (Canada) 2469243 93881
Total Common Stocks (Cost $5269969) 7046124
Convertible Preferred Stocks (01)
Communications Technology (00) Peixe Urbano Inc (Brazil) (a)(c)(d) (acquisition cost mdash $18817 acquired 12211)
571575 886
Computer Technology (01) Dropbox Inc Series A (a)(c)(d) (acquisition cost mdash $3365 acquired 52512)
371814 4276
Total Convertible Preferred Stocks (Cost $22182) 5162
Preferred Stock (02)
Computer Services Software amp Systems (02) Palantir Technologies Inc Series G (a)(c)(d) (acquisition cost mdash $11738 acquired 71912) (Cost $11738)
3835908
12118
Short-Term Investments (51)
Securities held as Collateral on Loaned Securities (06)
Investment Company (04) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G)
31026954
31027
Face
Amount (000)
Repurchase Agreements (02) Barclays Capital Inc (006 dated 93013 due 10113 proceeds $7144 fully collateralized by a US Government Obligation
$ 7144
7144
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
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Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
025 due 91515 valued at $7287) Merrill Lynch amp Co Inc (003 dated 93013 due 10113 proceeds $8572 fully collateralized by a US Government Obligation 075 due 22818 valued at $8744)
8572
8572
15716
Total Securities held as Collateral on Loaned Securities (Cost $46743) 46743
Shares Value (000)
Investment Company (45) Morgan Stanley Institutional Liquidity Funds mdash Money Market Portfolio mdash Institutional Class (See Note G) (Cost $331820)
331819938
$ 331820
Total Short-Term Investments (Cost $378563) 378563
Total Investments (1011) (Cost $5682452) Including $92019 of Securities Loaned (e) 7441967
Liabilities in Excess of Other Assets (-11) (78834 )
Net Assets (1000) $ 7363133
(a) Non-income producing security (b) All or a portion of this security was on loan at September 30 2013 (c) Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (restricted security) Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description The Portfolio has registration rights for certain restricted securities Any costs related to such registration are borne by the issuer The aggregate value of restricted securities (excluding 144A holdings) at September 30 2013 amounts to approximately $114626000 and represents 16 of net assets (d) At September 30 2013 the Portfolio held fair valued securities valued at approximately $114626000 representing 16 of net assets These securities have been fair valued as determined in good faith under procedures established by and under the general supervision of the Funds Trustees (e) The approximate fair value and percentage of net assets $451487000 and 61 respectively represent the securities that have been fair valued under the fair valuation policy for international investments as described in Note A-1 within the Notes to the Financial Statements ADR American Depositary Receipt GDR Global Depositary Receipt
The accompanying notes are an integral part of the financial statements
9
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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Morgan Stanley - Investor Relations
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Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
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Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
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C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
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IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-1-
Morgan Stanley Inst Mid Cap Growth I
MPEGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was appointed Chief Counsel
to Tesla Motors five months before the trial Tesla Motors received $465 million in
energy stimulus funds at the recommendation of McBee Strategic LLC and Michael
Sheehy former National Security Adviser for House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Mailru Group GDR (Russia)
Mailru Group (aka Digital Sky Technologies DST DST Systems) is the largest outside
investor in Facebook The company is owned by Russian oligarch Alisher Usmanov
and managed by fellow oligarch Yuri Milner Mailru invested approximately $15
billion in pre-IPO private Facebook stock facilitated by Goldman Sachs who also invested via Goldman Sachs Group Inc T Rowe Price Invests in Facebook by Mary Pilon The Wall Street Journal Apr 16 2011 lthttponlinewsjcomnewsarticlesSB10001424052748704495004576264730149910442gt
Yuri Milner and Facebook COO Sheryl Sandberg were notoriously mentored by
Lawrence ldquoLarryrdquo Summers former director of the National Economic Council 2008-
2010 Summer oversaw the bailout of Wall Street in 2008 including Goldman Sachs
and Morgan Stanley US House Oversight Committee Briefing ndash American and Russian Opportunities Undermining US Sovereignty and Corrupting US Financial and Judicial Systems Oct 9 2012 updated Nov 14 2003 httpwwwscribdcomdoc110575673Briefing-for-Representative-Jim-Jordan-OH-HOUSE-OVERSIGHT-COMMITTEE-American-and-Russian-Opportunists-Undermining-U-S-Sovereignty-and-Corruptin
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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Each of the investment products (including the T Rowe Price mutual funds) or services referred to in the T Rowe Price Web site may be offered only to persons in the United
States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
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to contact that firm for information on the delivery of any materials
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immediate so you dont have
to wait for the postal service
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helps keep fund expenses
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postage costs
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UniUOnline Access Guide
copy 2013 BlackRock Inc All rights reserved I
httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
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Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
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IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=MPEGXampft=N-CSRampd=97e8e52087910e378f5052d8bb3a98e1 accessed Jan 15 2014
-2-
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing to
Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters including
T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Zynga Inc It is notoriously known that Zynga builds games specifically to run on the Facebook platform and its interests are closely aligned Fidelityrsquos Danoff Bets on Facebook Zynga by Miles Weiss Bloomberg Jun 1 2011 httpwwwbloombergcomnews2011-06-01fidelity-s-danoff-bets-on-facebook-zyngahtmlgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Groupon This company was funded by numerous Facebook principals including
1 Accel Partners LLP James W Breyer former Facebook director chairman and
largest Facebook shareholder 2 Digital Sky Technologies (DST Systems aka Mailru Group (Russia))
Facebookrsquos largest outside investor
3 Morgan Stanley Venture Partners Facebook IPO underwriter
4 Andreessen Horowitz Marc Andreessen Facebook director large Facebook
shareholder shareholder in Instagram acquired by Facebook in 2012 where
Lawrence ldquoLarryrdquo Summers is a ldquospecial adviserrdquo httpwwwcrunchbasecomcompanygroupon
Athenahealth Inc
Founded by Todd Y Park Barack Obamarsquos current US Chief Technology Officer
former chief technology officer at US Health amp Human Services chief architect of
HealthCaregov Athenahealth makes claims that social networking technology is ldquoopen sourcerdquo without justification
Morgan Stanley Institutional Liquidity
Morgan Stanley is a Facebook underwriter Facebook Amendment No 8 to Registration Statement on Form S 1A SEC EDGAR May 17 2012 accessed Jan 6 2014 httpwwwscribdcomdoc196693110Facebook-Amendment-No-8-to-Registration-Statement-on-Form-S-1-A-SEC-EDGAR-May-17-2012-accessed-Jan-6-2014
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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immediate so you dont have
to wait for the postal service
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lower eliminating paper and
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to the environment
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copy 2013 BlackRock Inc All rights reserved I
httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Presentations
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Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
Direct Share Purchase and Dividend Reinvestment Program (DRIP)
Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
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gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
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Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2012930taspxt=BROIXampft=N-CSRampd=5121704b05b63bc5f7f9d97f352d5704
BlackRock Global Opportunities Instl Annual Report
BROIX
Schedule of Investments (continued)
BlackRock Global Opportunities Portfolio (Percentages shown are based on Net Assets)
Common Stocks Shares Value United States (concluded)
The Goldman Sachs Group Inc 18400 $ 2091712 Google Inc Class A (a) 5000 3772500 The Hain Celestial Group Inc (a) 12558 791154 International Paper Co 58900 2139248 Intuit Inc 27100 1595648 JPMorgan Chase amp Co 84400 3416512
KeyCorp 316300 2764462 Mondelez International Inc 63500 2625725 Las Vegas Sands Corp 35700 1655409 Liberty Global Inc Class A (a) 34600 2101950 Linear Technology Corp 45295 1442646 Lowersquos Cos Inc 72800 2201472 Merck amp Co Inc 71800 3238180 MetLife Inc 53400 1840164 Microsoft Corp 52900 1575362
Monsanto Co 26300 2393826 The NASDAQ OMX Group Inc 65900 1535141 National Oilwell Varco Inc 39900 3196389 NetApp Inc (a) 87314 2870884 NII Holdings Inc (a) 20500 160925 NIKE Inc Class B 15800 1499578 Owens Corning (a) 56300 1883798 PartnerRe Ltd 21100 1567308 Perrigo Co 11300 1312721 PPL Corp 70400 2045120 Ralcorp Holdings Inc (a) 10475 764675 Reynolds American Inc 35900 1555906 Riverbed Technology Inc (a) 73608 1712858 Rockwell Automation Inc 25600 1780480 Rowan Cos Plc Class A (a) 87600 2958252 Schlumberger Ltd 40700 2943831 SPX Corp 34200 2237022 Teradata Corp (a) 38521 2904869 Time Warner Inc 78200 3544806 United Rentals Inc (a) 76325 2496591 Verizon Communications Inc 52500 2392425 Vertex Pharmaceuticals Inc (a) 27100 1516245 Visa Inc Class A 25100 3370428 Wells Fargo amp Co 145400 5020662 Weyerhaeuser Co 35314 923108 Whirlpool Corp 26100 2163951 Xilinx Inc 48600 1623726
165723925
Total Long-Term Investments
(Cost ndash $288801664) ndash 993
322491975
Relationship to Facebook (Conflict of Interest)
1 The Goldman Sachs Group Inc ndash Large Facebook stockholder and Facebook underwriter
2 JPMorgan Chase ndash Facebook underwriter
3 Microsoft ndash One of Facebookrsquos largest shareholders
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
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laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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D 1
Oppenheimer Holdings Inc Annual Reports
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-1-
Openheimer Instl Fd Trust Mid Cap Grwth Port CL I
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously
known that Hoffman provided business coaching and early financing to Mark
Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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communications Whenever a document is issued we will automatically alert you via
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to contact that firm for information on the delivery of any materials
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For additional questions please call us at 1-800-441-7762 between 800 am and
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immediate so you dont have
to wait for the postal service
Its economical E-Delivery
helps keep fund expenses
lower eliminating paper and
postage costs
Its more convenient Delivered straight to your
computer E-Delivery wont
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to the environment
Anytime-Anywhere Account Access
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copy 2013 BlackRock Inc All rights reserved I
httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Presentations
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Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
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Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
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Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpswwwoppenheimerfundscomdigitalAssetsEmergingGrowthSAR-01264fa0-8402-4c53-8e37-9057c36cd068pdf
-2-
Workday Inc
This company is financed by principal Facebook investors and underwriters including T
Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
Home Mutual Funds
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or the econom
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laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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D 1
Oppenheimer Holdings Inc Annual Reports
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpprospectus-expressnewrivercomsummaryaspdoctype=annampclientid=touchstllampfundid=89154X302
-1-
Touchstone Large Cap Growth Fd CL I
(TEQAX)
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Information Technology mdash 216
Aruba Networks Inc 18191 450045
Aspen Technology Inc 14445 466429
Bankrate Inc 16710 199517
Blackbaud Inc 13255 392746
Cadence Design Systems Inc 27710 386000
comScore Inc 15292 256600
FEI Co 5990 386654
InterXion Holding NV (Netherlands) 12925 313044
j2 Global Inc 9885 387591
MAXIMUS Inc 6850 547794
Cognizant Technology Solutions Corp -
Class A 26750 2049318
Google Inc - Class A 7859 6240282
LinkedIn Corp - Class A 3280 577477
Maxim Integrated Products Inc 46450 1516592
NICE Systems Ltd (Israel) ADR 32167 1184711
Nuance Communications Inc 123640 2495055
Relationship to Facebook (Conflict of Interest)
Comscore Funded by James W Breyer Accel Partners LLP
Facebookrsquos largest shareholder and former
director
httpwwwcrunchbasecomcompanycomscore
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
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or the econom
intended for shareholders and others who have reviewed the mutual funds prospectus
You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
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immediate so you dont have
to wait for the postal service
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Presentations
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Contacts
FAQs
Frequently Asked Questions
Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
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Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
FEDERAL COURTS RULES amp POLICIES JUDGES amp JUDGESHIPS STATISTICS FORMS amp FEES COURT RECORDS EDUCATIONAL RESOURCES NEWS
Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-1-
Guggenheim (Security EQ) Mid Cap Value C
SEVSX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo
INFORMATION TECHNOLOGY - 38
Apple Inc 2258 $ 1076501
International Business Machines Corp 3528 653315
Cisco Systems Inc 23842 558380
Hewlett-Packard Co 25642 537969
Microsoft Corp 15294 509443
Intel Corp 19074 437176
Corning Inc 28147 410665
Oracle Corp 11865 393562
QUALCOMM Inc 5539 373107
CONSUMER STAPLES - 33
Wal-Mart Stores Inc 9418 696555
CVS Caremark Corp 10771 611254
Walgreen Co 10921 587550
SHORT TERM INVESTMENTS
dagger - 08
Goldman Sachs Financial Square
Funds - Treasury Instruments Fund 556160
556160
INFORMATION TECHNOLOGY - (57)
VeriSign Inc67
1200 (30756 )
Access Company Ltd67
17 (32755 )
Varian Semiconductor Equipment
Associates Inc67
1260 (33037 )
Electronic Arts Inc67
900 (36720 )
Riverbed Technology Inc67
3280 (43624 )
Red Hat Inc67
2610 (46589 )
Baidu Inc ADR67
200 (53726 )
Relationship to Facebook (Conflict of Interest)
LinkedIn Corp Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early
financing to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no
Yellow Highlight = Notorious Facebook collaborator
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
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Direct Share Purchase and Dividend Reinvestment Program (DRIP)
Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
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C gt Interim Reports
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D 1
Oppenheimer Holdings Inc Annual Reports
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bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Source httpquotemorningstarcomfund-filingAnnual-Report2013930taspxt=SEVSXampft=N-CSRampd=fa8755634a67962ee770a06225055799
-2-
coincidence
IBM IBM sold Facebook 750 patents during the pendency of Leader v Facebook The former Director of the
US Patent Office David J Kappos systematically failed to disclose his bias toward Facebookrsquos and IBMrsquos interests regarding all matters related to Facebookrsquos intellectual property claims neither has USPTO staff Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Microsoft One of Facebookrsquos largest shareholders and stakeholders notoriously known
Wal-Mart Faceboookrsquos largest investor and director James W
Breyer Accel Partners LLP was also a director at Wal-Mart and was responsible for a deep embedding of Facebook technology in the Wal-Mart site
Goldman Sachs Facebookrsquos underwriter and large investor notoriously known
Verisign Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Baidu Inc Facebookrsquos largest shareholder and former chairman
and director James W Breyer Accel Partners is an
owner of Baidu via his IDG-Accel ownership with his
father John P Breyer in China httpwwwcrunchbasecomcompanybaidu
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
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httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
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Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
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- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
MARCH 312013
T ROWE PRICE
MI D-CAP GROWTH
FUND
Portfolio of Investments
bull
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
I NV E ST WITH CON FI DENCE Home About Us Social Responsibility Customer Service llitjiiI
My Accounts
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or the econom
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You can also obtain a free copy of the prospectus or the mutual fund report by calling us toll free at 1-800-541-8803
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States This Web site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States
Site Map Privacy Policy Terms of Use Legal Information Other T Rowe Price Sites [+] Feedback ~ Ell Youm shyCopyright 2014 T Rowe Price Investment Services Inc Distributor All rights reserved
httpindividualtroweprice com publicReta i 11M utua I-Fu ndsh ProspectusesampReportsProspectuses-amp -Reports[ 1 1120 14 10 23 08 AM]
Search T Rowe Price I [ Search I
800-638-5660 Call an Investment Guidance Specialist
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FIND PRODUCTS Individual Investors gt Products amp Performance gt Mutual Funds gt Electronic Delivery
[ Enter fund name ticker or CUSIP Electronic Delivery Explore Electronic Delivery
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Regulatory Docu
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To simplify and reduce the amount of mail that our fund shareholders receive from
statements prospectuses semiannual and annual reports and all other shareholder
communications Whenever a document is issued we will automatically alert you via
e-mail allowing you to immediately view and download the information directly
Daily Pricing amp Yields Please note if your accoun IS n
Product Commentary your account is through Merrill Lynch Charles Schwab Fidelity etc) you will need
to contact that firm for information on the delivery of any materials
Proxy Information 1 Click on the applicable link below and follow the steps to sign up
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for e-delivery now
2 We will send you an e-mail notification to the e-mail address you provide as
soon as information becomes available The e-mail will contain direct links to
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Forms amp Applications 3 You can change your delivery options or turn off E-Delivery service at any time
free of charge
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For additional questions please call us at 1-800-441-7762 between 800 am and
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immediate so you dont have
to wait for the postal service
Its economical E-Delivery
helps keep fund expenses
lower eliminating paper and
postage costs
Its more convenient Delivered straight to your
computer E-Delivery wont
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to the environment
Anytime-Anywhere Account Access
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copy 2013 BlackRock Inc All rights reserved I
httpwww2blackrockcomusindividua H nvestors products-performance mutual-funds electronic-del ivery[ 11520 14 8 24 08 PM]
Morgan Stanley - Investor Relations
Overview
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Contacts
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Frequently Asked Questions
Shareholders 1 Client Services 1 Company Information
Annual Report Request
Transferring Shares of Morgan Stanley Stock
Change of Address for My Dividend and Share Accounts with Morgan Stanley
Direct Share Purchase and Dividend Reinvestment Program (DRIP)
Obtaining a New Stock Certificate
Tax Cost Basis Worksheet
Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Contacting us by Regular Mail Computershare POB 43006 Providence RI 02940-3006 USA
Contacting us via Overnight Mail Computershare 250 Royall Street Canton MA 02021 USA
stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
bullbullbull Mna Change of Address for My Dividend and Share Accounts with Morgan Stanley Q I am a Morgan Stanley shareholder How do I change my address for my dividend checks annual report to shareholders
and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
Note If you need to change your address with your Morgan Stanley brokerage account please contact your financial advisor or branch office
Direct Share Purchase and Dividend Reinvestment Program (DRIP) Q I would like to enroll in your direct stock purchase and diVidend reinvestment plan How do I get started A Please call our plan record keeper Computershare at 1-800-622-2393 or write to
Computershare POB 43006 ProVidence RI 02940-3006 USA
Obtaining a New Stock Certificate Q How do I obtain a new stock certificate A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
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December 2006
Inside This Edition
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As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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Go
ltlt Back
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Acuity Brands Agilent Technologies Agnico-Eagle Mines Akamai Technologies Alaska Air Group Alexion Pharmaceuticals Alkermes Altera Amdocs AMETEK
Ariad Pharmaceuticals Aruba Networks Atmel
AutoZone Avago Technologies Babcock amp Wilcox Ball
BankUnited Bruker c R Bard CH Robinson Worldwide
Calpine
CareFusion CarMax
Catamaran
CBOE Holdings
Celanese Series A Charles Schwab Charter Communications Chipotle Mexican Grill Choice Hotels International Clean Harbors Colfax Concur Technologies Cooper Companies couponscom Covance Cree Cubist Pharmaceuticals
Dean Foods DENTSPL Y International
Discovery Communications Class C Dollar General Dollar Tree
Dropbox Dropbox Class A Dropbox Class A-1
DSW Class A
Edwards Lifesciences
Elan ADR
EQT
Equifax FactSet Research Systems Fastenal Fiserv Franco-Nevada
Fresh Market Gardner Denver Gartner Gentex Global Payments Green Mountain Coffee Halcon Resources Harley-Davidson
HCC Insurance Holdings Henry Schein Hertz Global Holdings IDEX
IDEXX Laboratories IHS
Iliumina Incyte Intercontinental Exchange
Intersil Holding Class A IPG Photonics JB Hunt Transport Services JDS Uniphase Jones Lang LaSalle Kansas City Southern Industries Kohls
Laboratory Corporation of America Laredo Petroleum Holdings Liberty Interactive Class A Linkedln LivingSocial ManpowerGroup
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
1375000 95356250 0476
4000000 167880000 0837
3500000 143640000 0716
5250000 185272500 0924
1500000 95940000 0478
1500000 138210000 0689
5250000 124477500 0621
3000000 106410000 0531
6500000 235625000 1175
8000000 346880000 1730
2250000 40702500 0203
1550000 38347000 0191
18000000 125280000 0625
500000 198385000 0989
2000000 71 840000 0358
7600000 215916000 1077
1075000 51 148500 0255
3050000 78141 000 0390
7250000 138475000 0691
1591 000 160340980 0800
739765 43986427 0219
14250000 293550000 1464
6250000 218687500 1091
7250000 302325000 1508
3979000 211 006370 1052
4000000 147760000 0737
2525750 111 259288 0555
5750000 101 717500 0507
2100000 218778000 1091
225000 73320750 0366
2550000 107890500 0538
1500000 87135000 0435
2150000 100061 000 0499
1750000 120155000 0599
1200000 129456000 0646
7631 664 20891 680 0104
3400000 252688000 1260
2000000 109420000 0546
1000000 46820000 0234
5000000 90650000 0452
7500000 318150000 1587
1000000 69540000 0347
4500000 227610000 1135
3050000 147711500 0737
441 181 3393447 0017
581 600 4473513 0022
2884077 22183556 0111
1500000 95700000 0477
1000000 82160000 0410
6003700 70843660 0353
3500000 237125000 1183
3000000 172770000 0862
2000000 185200000 0924
5250000 269587500 1345
3500000 307405000 1533
3000000 136939509 0683
1000000 42770000 0213
1591 000 119500010 0596
6000000 326460000 1628
250000 5002500 0025
2586000 128420760 0640
2625000 148995000 0743
5000000 38950000 0194
2500000 133250000 0665
3750000 157612500 0786
2000000 185100000 0923
7000000 155820000 0777
4500000 240390000 1199
2000000 184780000 0922
3200000 335104000 1671
1300000 70200000 0350
2250000 52672500 0263
725000 118225750 0590
1850000 16113500 0080
950000 63089500 0315
2000000 148960000 0743
15000000 200550000 1000
1151 000 114420910 0571
1600000 177440000 0885
3500000 161 455000 0805
3000000 270600000 1350
2750000 50297500 0251
4400000 94072000 0469
325000 57219500 0285
9229900 5353342 0027
4750000 269420000 1344
Page 1
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
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Currency is in USD January 15 20141 Quote delayed 20 minutes
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Computershare POB 43006 Providence RI 02940-3006 USA
laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
T Rowe Price Mid-Cap Growth Fund (Unaudited)
Portfolio of Investments
Equity amp Debt Securities
Marriott Class A
McDermott International
MEDNAX
Mettler-Toledo International
Microchip Technology
MICROS Systems
Motorola Solutions
MSCI Class A
Netflix
Norwegian Cruise Line Holdings
Nuance Communications
ONYX Pharmaceuticals
OReilly Automotive
Pall
Panera Bread Class A
Pharmacyclics
Pioneer Natural Resources
Progressive
Quanta Services
Range Resources
Red Hat
Regeneron Pharmaceuticals
Rexnord
Rockwood Holdings
Roper Industries
SanOisk
Sensata Technologies Holding
ServiceNow
SM Energy
Southwestern Energy
Starbucks
T Rowe Price Government Reserve Investment Fund T Rowe Price Short-Term Reserve Fund
TCF Financial
TO Ameritrade Holding
T esla Motors
Textron
Theravance
TIBCO Software
Tim Hortons
Treehouse Foods
Trimble Navigation
TripAdvisor
Universal Health Services
Valeant Pharmaceuticals International
Vantiv
Veri Sign
Verisk Analytics Class A
Vertex Pharmaceuticals
WABCO Holdings
Waste Connections
Wellcare Health Plans
Whole Foods Market
Wi llis Group Holdings
Workday
Workday
Xilinx
Zoetis
Miscellaneous Securities t Total Investments in Securities
NET ASSETS
NET ASSET VALUE PER SHARE
Mid-Cap Growth Fund -Investor Class
($18817306910297783673 shares outstanding)
Mid-Cap Growth Fund - Advisor Class
($96680679015625769 shares outstanding)
Mid-Cap Growth Fund - R Class
($266344317 14384 268 shares outstanding)
RPMGX 31-Mar-2013
Coupon Maturity SharesPar Value ($) of Net Assets
4000000 168920000 0842
12250000 134627500 0671
1500000 134445000 0671
225000 47974500 0239
3000000 110280000 0550
691400 31465614 0157
3500000 224105000 1118
5900000 200187000 0998
600000 113646000 0567
2250000 66712500 0333
5362970 108224735 0540
1000000 88860000 0443
1750000 179462500 0895
3850000 263224500 1313
550000 90882000 0453 675000 54276750 0271
1000000 124250000 0620
6500000 164255000 0819
9525000 272224500 1358
3250000 263380000 1314
4000000 202240000 1009
700000 123480000 0616 1575000 33437250 0167
2550000 166872000 0832
2500000 318275000 1587
1750000 96250000 0480
3000000 98610000 0492
2700000 97740000 0487
3500000 207270000 1034
4750000 176985000 0883
250000 14240000 0071
008 900180062 900180062 4490
011 922459 9224592 0046
8250000 123420000 0616
8500000 175270000 0874
600000 22734000 0113
10000000 298100000 1487
2900000 68498000 0342
4000000 80880000 0403
2600000 141 232000 0704
2000000 130300000 0650
3482000 104320720 0520
2250000 118170000 0589
2400000 153288000 0765
1500000 112530000 0561
4050000 96147000 0480
3000000 141 840000 0707
2875000 177186250 0884
1500000 82470000 0411
2500000 176475000 0880
3500000 125930000 0628
1250000 72450000 0361
1100000 95425000 0476
3000000 118470000 0591
918400 56600992 0282
813385 47622472 0238
5000000 190850000 0952
435000 14529000 0072
20912332
20200719971
20050458016
6319
6187
6075
Page 2
Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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Morgan Stanley - Investor Relations
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and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
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laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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Oppenheimer Holdings Inc Annual Reports
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
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Source httpindividualtrowepricecomgcFilespdfarmcgpdf
T Rowe Price Mid-Cap Growth Fund
RPMGX
Summary of Facebook conflicts of interests Code of Conduct for United States Judges
ldquoAvoid even the appearance of improprietyrdquo Relationship to Facebook (Conflict of Interest)
LinkedIn Corp
Facebook director Reid Hoffman is the founder and CEO of LinkedIn It now notoriously known that Hoffman provided business coaching and early financing
to Mark Zuckerberg while he was still a student at Harvard in 2003 LinkedIn software mimics Facebookrsquos functionality perhaps this is no coincidence
Workday Inc This company is financed by principal Facebook investors and underwriters
including T Rowe Price and Morgan Stanley httpwwwcrunchbasecomcompanyworkday
Tesla Motors Inc
Michael G Rhodes Cooley Godward LLP Facebookrsquos litigator in Leader Technologies Inc v Facebook Inc cv-08-862-JJF-LPS (D Del 2008) was
appointed Chief Counsel to Tesla Motors five months before the trial Tesla Motors received $465 million in energy stimulus funds at the recommendation
of McBee Strategic LLC and Michael Sheehy former National Security Adviser for
House Speaker Nancy Pelosi Zusha Elinson ldquoMichael Rhodes (Cooley Godward LLP Tesla Motors)rdquo The Recorder wwwcallawcom Feb 22 2010 lthttpwwwcooleycomfilesRhodesThe20Recorder22210pdfgt See alsolthttpwwwscribdcomdoc144432049Zusha-Elinson-E2809CMichael-Rhodes-THE-RECORDER-Feb-22-2010-Accessed-May-29-2013gt
Petition for Writ of Certiorari Leader Technologies Inc v Facebook Inc No 12-617 Nov 16 2012 lthttpwwwscribdcomdoc113545399Petition-for-Writ-of-Certiorari-Leader-Technologies-Inc-v-Facebook-Inc-No-12-617-U-S-Supreme-Court-Nov-16-212-clickable-citationsgt
Dropbox Inc This company is funded by Facebookrsquos former director and largest shareholder
James W Breyer Accel Partners LLP and Goldman Sachs among others httpwwwcrunchbasecomcompanydropbox
Verisign Facebookrsquos largest shareholder and former chairman and director James W
Breyer Accel Partners is a founding financier and partner with Verisign Archana Rai Verisign India chief joins VC firm Accel The Indian Economic Times Jan 26 2011 lthttparticleseconomictimesindiatimescom2011-01-26news28425434 1 venture-capital-canaan-partners-early-stage-fundgt See also httpwwwscribdcomdoc199987940VeriSign-India-Chief-Joins-VC-Firm-Accel-The-India-Economic-Times-Jan-26-2011
Yellow Highlight (previous pages) = Notorious Facebook collaborator
Mutual Funds Prospectuses and Reports - T Rowe Price
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Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
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The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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Transferring Shares of Morgan Stanley Stoc Q How do I transfer Morgan Stanley shares from one shareholder to another A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
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stock Information
NYSEMS 3222 112
52-Week 31 92 - 1985
Currency is in USD January 15 20141 Quote delayed 20 minutes
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and other company information A Please call our Transfer Agent Computershare at 1-800-622-2393 or write to
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atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
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laquoida
atM-mil
httpwwwmorganstanleycomabout irfaq html[1I 152014 836 1 0 PM]
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Figtod-IOKomlt Sector Rope
lperspectivessectorreporthigh-yield sector reportshigh-yield-and-hank-loan-outlook-january-20 14
GUGGEnHEim
OUR FIRM OUR SERVICES CITIZENSHIP OJEEItS CONTACT lIS
1 lco OUtl OOO_ J Y 2ltl
High 1Ifl_~lary 2014
~ DOWtllOAD PDf t fOllOW scon I H SHARE I 8+1
JAHUARYU62014
Improving US macroeconomic conditions should spur additional inves tor demand for
high -yield bonds and bank loans part icularly with defaults exceptionally low Still inves tors
should monitor trends pointing to an erosion of safety in leveraged credit
High -yie ld bonds nd bnks lons enjOyed ~ fifth consutive ye r of pos it ive returns in 2013 with nnu1 returns of 7 5 percent nd 6 1 percent respectively In 2014 the strengthening U S onomy nd bull growing need to keep with in durt ion trgets should be the most prominent themes drM ng high -yie ld demand However investors should te mpe r return epectat ions in high -yie ld bonds to single digit leve ls Irgely sourced from coupons and cush ioned by low spread durt ion
Given rord low yie lds aggressive cpit1 mrket act Mty nd rord demand in bnk lons we sense n eros ion of safety beneth the surface The prominence of covennt~ it e lons the gradu1 uptick in pyment~n -kind (PIK) toggle
notes nd the acceleration of corporte bond rating downgrades re concern ing Muchsn eroding dm cn re main stnding until tested by ~oOOwaters leveraged cred it may be undergoing si mi lar degradt ion oot wi ll not ulti mately be tested until the rising tide of defu lts appers wh ich we be li eve to be years away Careful cred it analys is is of upmost importnce in these markets oot we see litt Ie immediate risk of a mean ingfu l downturn t hat wou ld test leveraged cred it
REPORT HIGHLIGHTS
Cnnt~ite lons represented 57 percent of tot1 bank lon issuance in 2013 and now represent neny ha~ of the bank loan market Investors should closely mon it or trends inlticat ing dimi nishing investor prott ions The consequences of weaker covenants li e beyond the horizon as the U S Federal Reserve cont inu es to inject I~ t t~ t h~ hrnA ~1rket The epectt ion of short -term rates at the zero-bound over the neld 18 months to 2
CLI EN T LOGIN
EARCI1
OCTOBER 21)13
H igh Yie ld and Bank loan Outlook - October 1013 f_montol fclors _rlyi1~
the oorporoto seclor oont~ to _rsoorlt Or oonotructivo ston 0 Iovoroltlaquo croltll IwWOYOf wotors shok ~o~re for he9htenod Ql volotlly orrOd s~ft~~ tocMicol dyn3rTics ~ tile 01 mo
SEPTEMBE R21)l l
Rising Interest Rates Must End Soon wtIy w y tile t opportun~me to tgtuv lt1 tIlO ot ony trno ~ tile ~t two yosrs
WoCROVIEW
JA NUARY 21)14
Keep Optimistic and Carry On
111 is lilltoly to other 11lt1
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
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Oppenheimer Holdings Inc Annual Reports
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The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
FEDERAL COURTS RULES amp POLICIES JUDGES amp JUDGESHIPS STATISTICS FORMS amp FEES COURT RECORDS EDUCATIONAL RESOURCES NEWS
Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Welcome to Oppenheimer amp Co Inc - About Oppenheimer - Investor Relations
IIgt History
Investor Relations
raquo Press Releases
C gt Interim Reports
raquo Annual Reports
raquo Non-GAAP Financial Measures
raquo Proxy Statement
raquo SEC Filings on EDGAR
raquo XBRL Files
raquo Regulatory Filings on SEDAR
raquo Corporate Governance
IIgt Careers
D 1
Oppenheimer Holdings Inc Annual Reports
bull 2012 Annual Report bull Annual Report 2012 - Summary - HTML Version bull Annual Report 2012 - Summary - PDF bull Annual Report 2012 - Summary with Form 10-K - PDF bull Annual Report on Form 10-K for the Year Ended December 31 2012
bull 2011 Annual Report bull 2010 Annual Report bull 2009 Annual Report bull 2008 Annual Report bull 2007 Annual Report bull 2006 Annual Report bull 2005 Annual Report bull 2004 Annual Report bull 2003 Annual Report bull 2002 Annual Report bull 2001 Annual Report bull 2000 Annual Report bull 1999 Annual Report bull 1998 Annual Report
httpwwwopcocompublicabout_oppenheimerannual_reportshtml[ I I 1520 14 852 54 PM]
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
FEDERAL COURTS RULES amp POLICIES JUDGES amp JUDGESHIPS STATISTICS FORMS amp FEES COURT RECORDS EDUCATIONAL RESOURCES NEWS
Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
The Third Branch
DECEMBER 2006
This article is in the news archives -- for current news go to the Third Branch News
Transparency Takes Shape
The Judicial Conference adopted new policies on ethics and accountability in September 2006 Now policy is being
put into practice with the use of automated connict checking and the posting on the web of educational seminar
sponsors
Educational Seminars Sources
Beginning January 1 2007 nongovemmental organizations inviting a federal judge to attend an educational program
-a Significant purpose of which is the education of federal or state judges-and that pay for or reimburse that judge
over a certain dollar amount will be required to disclose financial and program information on the Judiciarys website
The policy applies if the judge is invited as a speaker panelist or attendee An automated system which will be
available at wwwuscourtsgov is being developed for program providers to report their information
The Judiciary recognizes that judges attendance at some educational seminars had posed concerns for some said
Judge D Brock Hornby chair of the Judicial Conference Committee on the Judicial Branch Our objective in making
this policy was to give greater transparency and accountability while allowing judges to continue their education The
Committee believes that judges access to knowledge should be neither limited nor censored
The Judicial Conference excludes certain organizations from the disclosure policy including state and local bar
associations national state and local subject-matter bar associations judicial associations the National Judicial
College and the Judicial Division of the American Bar Association The reporting requirement is triggered when any
payment or reimbursement is above the threshold at which judges must report gifts and reimbursements on their
annual financial disclosure reports-currently $305
Under the new Judicial Conference policy educational program providers are required to disclose the name of the
programs sponsors the name or title of the program dates and location of the program various presentation topics
and the expected speakers and all the program providers sources of support financial or otherwise Judges are
barred from accepting reimbursements unless they first determine that the program providers have made the required
disclosures In addition judges who accept invitations from such program providers must within 30 days of the end of
the program file a report with their courts clerk disclosing the dates of attendance the name of the program
=---== - Conflict Screening Policy
Judicial circuit councils are in the process of drawing up plans to implement mandatory conflict screening
The new conflict screening policy approved by the Judicial Conference in September 2006 requires courts and
judges to use automated screening software to help identify cases in which they may have a financia l conflict of
interest and should disqualify themselves The screening can also be used to check for nonfinancial conflicts The
software has been deployed by the Administrative Office as part of the Case ManagemenUElectronic Case Files
(CMECF) system used by nearly all district and bankruptcy courts As appeals courts begin implementing the
CMECF system over the next year theyll also begin using the accompanying conflict checking software
httpwwwuscourtsgovNewsTheThirdBranch06-12-0 lTransparency 3akes_Shapeaspx[ II 1 520 14 94847 PM]
Visit the Third Branch News for the latest news top
stories and feature articles from the Judiciary
December 2006
Inside This Edition
gt t 09th Congress and Pending Legislation Wrap Up
gt Planning for a Pandemic
gt A Focus on Federal Practice An Interview with FBA President William LaForge
gt Transparency Takes Shape
gt Safeguards in Place on Tax and Personal Information
gt Bankruptcy Filings Decline in FY 2006
gt Danger Part of the Job for Probation Pretrial Services Officers
gt Judge Was Eyewitness to Two Worst Terrorist Attacks in US
gt The Third Branch - December 2006
Judicial Milestones
Judicial Boxscore
The Third Branch Archives
Search by word or phrase 1 I_
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
Home gt Rules amp Policies gt Codes of Conduct gt Code of Conduct for United States Judges email updates RSS
CODE OF CONDUCT FOR UNITED STATES JUDGES print share FAQs
FEDERAL COURTS RULES amp POLICIES JUDGES amp JUDGESHIPS STATISTICS FORMS amp FEES COURT RECORDS EDUCATIONAL RESOURCES NEWS
Home | Your Court Services | Court Locator | Careers | RSS Feeds | Email Updates
- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
The Third Branch
As new matters are docketed in CMECF the conflict checking software compares names of parties and attomeys to
the names on a judges recusallisl
However the software cannot catch every conflict And thats due in part to the ever-changing nature of big business
-Keeping track of conflicts can be extremely complicated - said Judge Gordon J Quist chair of the Judicial
Conference Committee on Codes of Conduct Especially when mergers and acquisitions lead to continual changes in
investment portfolios The parties are responsible for providing notice of corporate changes and the courts need to
make SUrethis happens And judges should always perfonm a manual check for conflicts in addition to the automated
~ning
The AO with the Judicial Conference Committee on Codes of Conduct and with input from judges circuit executives
and clerks of court has prepared a model plan for conflict screening that addresses key issues and offers sample
language spelling out the obligations of courts and judges The model plan also offers a number of options for
possible adoption by circuit councils or courts For example one option is to detenmine how frequently screening
software will run Circuit councils will report to the Judicial Conference on their preliminary plans by January 31 2007
httpwww uscourtsgovNewsTheThirdBranch06-12-0 lTransparency _ Takes_Shapeaspx[ 11520 14 948 4 7 PM)
httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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httpwww cadc u scou rts gov i nternetho me nsfCo ntentVL 20-20 R u les2 0 Po I i ci es20 P roced u res20-20 Mandato ry20Confl ict
20Screening20Plan$FILEmandatoryconflictplanfinaI2pdf See also httpwwwscribdcomdoc200015259JUDICIAL-COUNCIL-OF-THEshyDISTRICT-OF-COLUMBIA-CIRCUIT-MANDATORY-CONFLICT-SCREENING-PLAN-accessed-Jan-15-2013
JUDICIAL COUNCIL OF THE DISTRICT OF COLUMBIA CIRCUIT
MANDATORY CONFLICT SCREENING PLAN
Preface On September 19 2006 the Judicial Conference of the United States adopted a mandatory conflict screening policy requiring courts and judges to implement automated screening to identify financial conflicts of interest Although automated screening (like manual screening) is not foolproof it is a valuable tool for detecting possible financial and other conflicts of interest The Judicial Conference policy is to be administered and directed by the circuit councils or by those individual courts not subject to the authority of a circuit council
Authority The Judicial Council of the District of Columbia Circuit adopts this plan under the authority set forth in 28 USC sect 332(d)(1) and in accordance with the mandatory financial conflict screening policy adopted on September 19 2006 by the Judicial Conference
sect 1 Scope This plan applies to the court of appeals district court and bankruptcy court within the District of Columbia Circuit as defined by law and to each judge of those courts in regular active service retired under 28 USC sectsect 371 (b) or 372(a) and performing duties pursuant to a designation under 28 USC sectsect 291 to 294 or recalled to judicial service This plan does not apply to judges retired under 28 USC sectsect 371 (b) or 372(a) but not performing duties or retired judges eligible for recall but not serving on recall
sect 2 Definitions For purposes of this plan
(a) Conflict of interest refers to an interest that disqualifies a judge as provided in Canon 3C(1) of the Code of Conduct for United States Judges See also 28 USC sect 455(a) (b)
(b) Financial conflict or financial conflict of interest refers to a financial interest that disqualifies a judge as provided in Canon 3C(1 )(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(b)(4)
(c) Financial interest has the meaning set forth in Canon 3C(3)(c) of the Code of Conduct for United States Judges See also 28 USC sect 455(d)(4)
(d) Judge refers to circuit district bankruptcy and magistrate judges and any other judicial officers subject to the Code of Conduct for United States Judges
sect 3 Court Obligations Each court shall implement automated screening to identify possible financial conflicts of interest for each judge appointed designated and assigned transferred temporarily assigned or recalled to serve the court Each court shall use the screening component of the Case ManagementElectronic Case Files (CMECF) system or the screening component of the Appellate Information Management System (AIMS) Additionally pursuant to sect 6 of this plan the circuit council approves the use by the court of appeals of its automated calendaring program (CABS) to further aid in the implementation of this policy In implementing the screening each court shall
-1-
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
(a) enter the following information into the database used for automated screening or (when feasible) arrange for the parties to do so the parties attorneys law firms and corporate parents disclosed by the parties
(b) at the request of a judge enter the judges conflicts list into the database used for automated screening or assist the judge or chambers staff to do so
(c) take reasonable steps to ensure that parties andor attorneys provide information needed for conflict screening including corporate parent statements as required by Fed R App P 261 Fed R Bankr P 1007(a)(1) and 70071 Fed R Civ P 71 Fed R Crim P 124 and local court rules that supplement the relevant Federal Rules
(d) conduct automated screening on a regular schedule including screening new matters as they are assigned or to be assigned to a judge or panel and screening all existing matters periodically or after each new entry of relevant information into the database used for automated screening
(e) notify the judge (or designee) when a possible conflict is identified
(f) provide periodic notices to judges reminding them to review and update their conflicts lists and to review and update the designee who will receive notice when a possible conflict is identified and
(g) provide information training and assistance to judges and staff to facilitate their participation in automated screening
sect 4 Obligations of Judges Each judge has the ultimate responsibility for identifying and avoiding conflicts of interest and should ensure that assigned matters are reviewed for conflicts before action is taken in the matter To assist in discharging this obligation each judge shall use automated screening to identify financial conflicts of interest by using the screening system implemented by each court to which the judge is appointed designated and assigned transferred temporarily assigned or recalled to serve Each judge may also use the courts automated screening to identify conflicts of interest other than financial conflicts While the United States Judicial Conference mandates the use of automated screening for conflicts nothing in this policy precludes judges from supplementing automated screening resources by utilizing additional methods such as manual screening to identify conflicts Each judge also shall
(a) keep informed about personal and fiduciary financial interests and make a reasonable effort to keep informed about the personal financial interests of the spouse and minor children residing in the household as required by Canon 3C(2) of the Code of Conduct for United States Judges see also 28 USC sect 455(c)
(b) develop a conflicts list identifying financial conflicts for use in automated screening
-2-
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
(c) review the conflicts list at regular intervals and update the conflicts list as financial interests change
(d) employ the conflicts list in the courts automated screening by entering the interests listed into the database used for automated screening the information may be entered personally by chambers staff or with the assistance of court staff and
(e) when notice is provided to the judge (or designee) that a possible conflict has been identified determine or cause to be determined whether a conflict exists and then arrange for appropriate action to resolve the conflict (ie nonassignment recusal divestiture of the interest)
sect 5 Exceptions
(a) Upon application the circuit council shall except a court from sect 3 of this plan and shall except the judges of that court from sect 4 of this plan where automated screening through CMECF AIMS or any other automated screening system is not available The circuit council shall limit the duration of the exception to the time period necessary to allow the court to implement automated screening as provided in this plan
(b) Upon application the circuit council may except a judge from sect 4 of this plan where the circumstances indicate that the judges participation in automated screening is unnecessary to identify financial conflicts of interest or is otherwise infeasible including in the following circumstances
(1) the judge has no case currently assigned and is not receiving new assignments (eg due to serious illness) or
(2) the judge files a written certification stating that he or she knows of no financial interest attributable to the judge requiring disqualification as a financial conflict of interest and does not expect to acquire such an interest in the foreseeable future
The circuit council shall specify the duration of the exception (Le a specified time period or permanent) provided however that an exception under sect 5(b)(2) of this plan shall not exceed one year
sect 6 Approval of Alternative Screening A court may request that the circuit council approve an alternative automated screening system other than CMECF or AIMS (such alternative system may not receive automation support from the Administrative Office) The circuit council shall approve an alternative system only if its functionality is comparable to the automated screening in CMECF or AIMS in all major respects including the ability to
(a) create and store electronically a judges conflicts list
(b) compare entries on a judges conflicts list to parties attorneys law firms and corporate parents in the courts docket
(c) allow for screening on a regularly scheduled basis and on an ad hoc basis and
-3-
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
(d) provide notice to a judge when a possible conflict is identified
sect 7 Reporting Obligations
(a) Each chief judge shall make such reports as are requested by the circuit council
(b) The circuit council shall make such reports as are requested by the Judicial Conference
sect 8 Confidentiality of Conflicts Lists Nothing in this plan requires a court or judge to disclose the interests listed on a conflicts list to anyone except to the limited extent necessary in the courts implementation of its automated screening
sect 9 Enforcement Under the authority of 28 USC sect 332(d)(1) courts and judges subject to this plan must comply with its requirements A judge who violates this plan may be subject to discipline in accordance with 28 USC sectsect 332(d)(2) and 351-364 A judge appointed by a court who violates this plan may be subject to discipline by the appointing court in accordance with existing customary practices
sect 10 Effective Date This plan takes effect on January 1 2008
Adopted by the Judicial Council of the District of Columbia Circuit on December 20 2007
-4-
Code of Conduct for United States Judges
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- A +Text-Size SEARCH
Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
Contact Us | Careers | Privacy amp Security Policy | Judicial Conduct amp Disability | Glossary of Legal Terms
Widgets | Translate | BrowseAloud | Operating Status
This site is maintained by the Administrative Office of the US Courts on behalf of the Federal Judiciary
The purpose of this site is to provide information from and about the Judicial Branch of the US Government
Go
ltlt Back
Code of Conduct for United States Judges
httpwwwuscourtsgovRulesAndPoliciesCodesOfConductCodeConductUnitedStatesJudgesaspx[1162014 101322 AM]
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Introduction
CANON 1 A JUDGE SHOULD UPHOLD THE INTEGRITY AND INDEPENDENCE OF THE JUDICIARY
CANON 2 A JUDGE SHOULD AVOID IMPROPRIETY AND THE APPEARANCE OF IMPROPRIETY IN ALL ACTIVITIES
CANON 3 A JUDGE SHOULD PERFORM THE DUTIES OF THE OFFICE FAIRLY IMPARTIALLY AND DILIGENTLY
CANON 4 A JUDGE MAY ENGAGE IN EXTRAJUDICIAL ACTIVITIES THAT ARE CONSISTENT WITH THE OBLIGATIONS OF JUDICIAL OFFICE
CANON 5 A JUDGE SHOULD REFRAIN FROM POLITICAL ACTIVITY
Compliance with the Code of Conduct
Applicable Date of Compliance
Last substantive revision (Transmittal GR-2) June 30 2009Last revised (minor technical changes) June 2 2011
Download Judicial Code of Conduct for United States Judges (pdf)
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