Value Investing Panel

Head of Public Equities

State of Wisconsin Investment Board

Susan Schmidt is the Head of Public Equities at the State of Wisconsin Investment Board. She has over 20 years of experience in the asset management industry and throughout her career has been an active investor in small- and mid-cap companies. Ms. Schmidt has extensive experience as a portfolio manager and research analyst and has served as president and chief executive officer of an industrial manufacturing company. Prior to her responsibilities at the State of Wisconsin Investment Board, Ms. Schmidt was the Head of U.S. Equities Portfolio Management at Aviva Investors in Chicago, a Senior Portfolio Manager and Senior Research Analyst at Westwood Holdings Group in Dallas, and a Portfolio Manager and Head of U.S. Equities for Mesirow Financial in Chicago. Ms. Schmidt received an MBA in finance from Northwestern University, a BA in economics from Smith College, and a degree in economic history from London School of Economics. She is a member of the CFA Institute and the CFA Society of Madison.

President and Portfolio Manager

Tributary Capital Management

Mark is the president of Tributary Capital Management and is a portfolio manager for the firm's Small Cap, Small/Mid Cap and All Cap Equity strategies. Mark has over 25 years of industry experience and joined Tributary Capital Management's predecessor, First Investment Group, in 1999. Prior to joining Tributary, he worked for five years at Westchester Capital Management as a senior securities analyst and two years at Union Pacific Railroad as a financial analyst, both in Omaha, Nebraska. Mark received his Bachelor of Science in Business Administration from the University of Nebraska-Lincoln. He earned his Chartered Financial Analyst (CFA) designation in 1997. Mark is a member of the CFA Society of Nebraska and the CFA Institute. He served on the Board of Directors of the CFA Society of Nebraska from 2002 to 2009, serving as president during 2007 and 2008.

CEO and Chief Investment Officer

Investment Management Associates

Vitaliy Katsenelson serves as the CEO and CIO of IMA. He received both his BS and MS degrees in finance from the University of Colorado, at Denver.

His two books, Active Value Investing and The Little Book of Sideways Markets, were published by John Wiley & Sons and have been translated into eight languages. His articles have appeared in Barron's, Financial Times, Forbes, Business Insider, CNBC, The Globe & Mail, and MarketWatch, among others. Vitaliy has also been a guest on CNBC, Fox Business, BNN, and Yahoo! Finance. Forbes magazine called him “the new Benjamin Graham”.

President and Chief Investment Officer

Robotti & Company

Robert Robotti is the President and Chief Investment Officer of Robotti & Company. Bob holds a BS from Bucknell University and an MBA in Accounting from Pace University. Prior to forming Robotti & Company, Incorporated in 1983, Bob worked as vice president and CFO at Gabelli & Company, Inc., and is currently an inactive CPA.

Bob serves on the Board of Directors of several publicly listed portfolio companies. NYSE-listed real estate company, AMREP Corporation, located in Germantown, PA, NYSE-listed Tidewater, Inc. which owns and operates one of the largest fleets of Offshore Support Vessels (OSVs) in the industry, and chairs the board of TSX-listed licenser of seismic data to the Oil and Gas Industry, Pulse Seismic. He was previously a board member of BMC Building Materials Holding Corporation, prior to its merger with Builders Firstsource and served on the board of Calgary based Mineral and Oil and Natural Gas royalty company PrarieSky Royalty Ltd.

In addition, he serves on the Boards of many non-profit organizations where he generously donates his time and expertise. Previously, Bob was a member of the Securities and Exchange Commission's Advisory Committee on Smaller Public Companies, established to examine the impact of Sarbanes-Oxley Act and other aspects of the federal securities law.