1. Association of Graduates – USAF Academy Investment Committee Report
Tuesday, 04 September 2018
Fiscal Year 2015
Association of Graduates – USAF Academy Investment Committee Report
Richard Abramson, Chairman
Rod Hennek
William Jennings, PHD
Lou Kingsland
Jack Fry
William Thompson, Ex-Officio
Alton Parrish, Ex-Officio

2. Investment Committee Members
Association of Graduates – USAF Academy
Tuesday, 04 September 2018
Investment Committee Members
Richard Abramson, Class of ’68, MBA, CFA
34 years with Bernstein Global Wealth Management
Grew the firm from $60 million under management to $500 billion today
Member of 10 investment charity committees with assets of $6 billion under management 1 1

3. Investment Committee Members
Association of Graduates – USAF Academy
Tuesday, 04 September 2018
Investment Committee Members
Roderick E. Hennek, Class of ’75, MBA
27 years with Morgan Keegan/Raymond James
Managing Partner of the Atlanta Consulting Group
Investment Consultant with over $14 billion under advisement
65% of client base are not for profit institutions
Sits on the Fifth Congressional District of Georgia U.S. Service Academy Selection Board 2 2

4. Investment Committee Members
Association of Graduates – USAF Academy
Tuesday, 04 September 2018
Investment Committee Members
William W. Jennings, PhD, CFA, CPA
Professor of Finance and Investments - U.S. Air Force Academy, overseeing instruction to over 1,800 cadets per year
Member of various investment committees with assets over $20 billion in pension and endowment funds
Co-author of Integrating Investments and the Tax Code 3 3

5. Investment Committee Members
Association of Graduates – USAF Academy
Tuesday, 04 September 2018
Investment Committee Members
Louis Kingsland, Class of ‘59, M.S.
Chairman Investment Policy Committee, Strategic Investment Solutions, Inc. (a money management consulting firm)
Investment Management Consultant with Wilshire Associates, Callan Associates with expertise in asset allocation, investment style evaluation, manager structure analysis and performance attribution.
Executive VP Mellon Capital Markets in charge of investment technology.
Deputy Mission Director of NASA’s Viking Mars Lander 4 4

6. Investment Committee Members
Association of Graduates – USAF Academy
Tuesday, 04 September 2018
Investment Committee Members
Jack Fry, Class of ’67, M.S., M.A.
Director, Association of Graduates Board
Treasurer, Association of Graduates
Chairman, Association of Graduates/Board of Directors Finance & Investment Committee
Former Financial Advisor/Registered Representative Edward Jones Investments 5 5 5 5