Aronson Johnson Ortiz is an independent, registered investment advisor,
founded in 1984. We use an active, value-oriented approach and a highly
disciplined, quantitative process to build diversified, fully invested, sector-
neutral portfolios of U.S. equities for large, tax-exempt institutions.

We offer benchmark-relative and absolute-return strategies across all market
caps. Our systematic process lets us set our sights on most any well-defined benchmark. We can vary tracking error or total volatility.

We forge a partnership with our clients, and their consultants. Our goal is to
provide exemplary client service. All of our clients are available as references
(except 10 that wish to remain anonymous).

Assets are as of 1/31/12.