In October 2012, Institutional Investor magazine announced that institutional investors voted boutique research firm Wolfe Research #12 (by weighting) in the publication’s prestigious 2012 All–America Research Poll. Wolfe Research ranked between much larger banks Goldman Sachs & Co. (#11) and Jefferies & Co. (#13). Currently Wolfe covers only seven sectors, but we believe that our relatively strong showing in this poll reflects that quality of what we do cover and our commitment to value–added research. Wolfe Research does not seek to cover every sector, but we will always hold ourselves to best–in–class standards in each of our research verticals. We strive for excellence in every facet of our business, and we will continue to differentiate ourselves by maintaining the highest standards for effort, client service, thoughtfulness, and integrity. In February 2013, Wolfe Research was named by Business Insider as one of the top 16 Wall Street firms where employees want to work.