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SEC Definitions (3)

"Qualified Client"
Has a net worth of more than $1,500,000 at the time the contract is entered into, including assets held jointly with a spouse, excluding one's primary residence; or

A natural person who or a company that immediately after entering into the contract has at least $750,000 under the management of the investment adviser.

Source: Rule 205-3 of the Investment Company Act of 1940

"Accredited Investor"
A natural person who has individual net worth, or joint net worth with the person's spouse, that exceeds $1,000,000 at the time of the purchase, excluding the value of one's primary residence; or

A natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or

A trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes; or

A charitable organization, corporation, or partnership with assets exceeding $5 million; or

A bank, insurance company, registered investment company, business development company, or small business investment company; or

An employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million; or

A business in which all the equity owners are accredited investors.

Source: Rule 501(a) of Regulation D of the Securities Act of 1933

"Qualified purchaser"
Any natural person (including any person who holds a joint, community property, or other similar shared ownership interest in an issuer that is excepted under section 3(c)(7) [15 USCS ยง 80a-3(c)(7)] with that person's qualified purchaser spouse) who owns not less than $5,000,000 in investments, as defined by the Commission; or

Any company that owns not less than $5,000,000 in investments and that is owned directly or indirectly by or for 2 or more natural persons who are related as siblings or spouse (including former spouses), or direct lineal descendants by birth or adoption, spouses of such persons, the estates of such persons, or foundations, charitable organizations, or trusts established by or for the benefit of such persons; or

Any trust that is not covered by clause (ii) and that was not formed for the specific purpose of acquiring the securities offered, as to which the trustee or other person authorized to make decisions with respect to the trust, and each settlor or other person who has contributed assets to the trust, is a person described in clause (i), (ii), or (iv); OR

Any person acting for the accounts of other qualified purchasers who in the aggregate invests on a discretionary basis not less than $25,000,000 in investments.

Source: Section 2(a)(51) of the Investment Company Act of 1940

"Investments" (what counts as investments)
Securities including stocks, bonds, etc. as defined by section 2(a)(1) of the Securities Act of 1933.

Real estate held for investment purposes;

Commodity Interests of Physical Commodities held for investment purposes;

Cash and cash equivalents (including foreign currencies) held for investment purposes, including bank deposits, CD's, and the net cash surrender value of an insurance policy.

Source: Rule 2a51-1 of the Investment Company Act of 1940