Blended portfolios hold stocks selected through our Emerging Growth and TQM strategies to provide diversification across market capitalization and investment styles. At different times, market results may vary because of company size, investment style or economic sector holdings.

A blended portfolio includes stocks chosen from a wide range of sizes and sectors with investment appeal for a variety of reasons from a special technology advantage to products with a high customer perception of quality. A blended approach offers a mix which can provide meaningful upside while tempering the portfolio volatility by holding stocks that do well at different times and under different market conditions.

Emerging Blend portfolios hold approximately 70% of the investment assets in Emerging Growth stocks and 30% in TQM stocks. For TQM Blend portfolios, the heavier weight is on the TQM side with approximately 70% of the investment assets. Balanced Blend portfolios hold about half the investment assets in each style.

Additional information about the Blend strategy is disclosed in our Form ADV.

Kopp Investment Advisors 8400 Normandale Lake Boulevard Suite 1450 Bloomington, MN 55437 Tel: 952.841.0400 / 800.333.9128