David Gonino proposed a new investment policy and the board approved it: the trust would not own more than 5% of any company, and no single investment could account for more than 5% of the trust's value.
A new investment policy approved it. This was what David Gonino proposed. The board approved it. This was what David Gonino proposed. The trust would not own more than 5% of any company. No single investment could account for more than 5% of the trust's value.