AHL Partners Portfolio holdings

AUM $6.41B

2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3

This Quarter Return

+5.95%

1 Year Return

+23.13%

3 Year Return

+67.91%

5 Year Return

–

10 Year Return

–

AUM

$4.53B

AUM Growth

+$4.53B (+38%)

Cap. Flow

+$1.13B

Cap. Flow % of AUM

24.99%

Top 10 Holdings % Top 10 Hldgs %

6.91%

Holding

1,292

New

262

Increased

454

Reduced

436

Closed

127

Top Buys

1	Vanguard FTSE Emerging Markets ETF VWO	$50.3M
2	iShares MSCI Emerging Markets ETF EEM	$49M
3	iShares JPMorgan USD Emerging Markets Bond ETF EMB	$40.5M
4	iShares iBoxx $ Investment Grade Corporate Bond ETF LQD	$22.2M
5	iShares TIPS Bond ETF TIP	$17.1M

Top Sells

1	AWH Allied World Assurance Co Hld Lt AWH	$13.6M
2	VR Validus Hold Ltd VR	$13.2M
3	Invesco Senior Loan ETF BKLN	$8.48M
4	Commercial Metals CMC	$7.61M
5	Yum China YUMC	$7.49M

Sector Composition

1	Technology	17.3%
2	Industrials	13.42%
3	Financials	12.73%
4	Healthcare	12.1%
5	Consumer Discretionary	10.7%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
101	XLNX 101 DELISTED Xilinx Inc XLNX	$10.5M	0.23%	181,456 +65,932	+57%	+$3.82M
102	102 Avanos Medical AVNS $554M	$10.5M	0.23%	275,115 +223,071	+429%	+$8.5M
103	103 Walt Disney DIS $213B	$10.4M	0.23%	92,100 +73,623	+398%	+$8.35M
104	104 Brinker International EAT $6.94B	$10.4M	0.23%	237,508 +9,310	+4%	+$409K
105	105 TTM Technologies TTMI $4.6B	$10.3M	0.23%	636,565 +601,522	+1,717%	+$9.7M
106	106 Insperity NSP $2.08B	$10.2M	0.23%	115,559 -24,626	-18%	-$2.18M
107	107 General Mills GIS $26.4B	$10.2M	0.23%	173,480 +154,714	+824%	+$9.13M
108	108 AMC Networks AMCX $306M	$10.2M	0.23%	174,283 +124,240	+248%	+$7.29M
109	CERN 109 DELISTED Cerner Corp CERN	$10.2M	0.23%	173,724 +153,204	+747%	+$9.02M
110	BRSL 110 Brightstar Lottery PLC BRSL $3.15B	$10.2M	0.23%	430,603 +80,261	+23%	+$1.9M
111	111 F5 FFIV $18B	$10.2M	0.23%	71,573 +21,652	+43%	+$3.09M
112	112 Waste Management WM $91.2B	$10.1M	0.22%	139,103 +46,856	+51%	+$3.42M
113	113 ManpowerGroup MAN $1.96B	$10.1M	0.22%	98,861 -1	-0%	-$103
114	114 Chemed CHE $6.67B	$10.1M	0.22%	55,405 +35,718	+181%	+$6.53M
115	115 SiriusXM SIRI $7.96B	$10.1M	0.22%	+1,957,619	New	+$10.1M
116	116 Spectrum Brands SPB $1.38B	$10.1M	0.22%	72,299 +62,280	+622%	+$8.66M
117	117 Plexus PLXS $3.7B	$10M	0.22%	173,571 +51,222	+42%	+$2.96M
118	118 Brown-Forman Class B BF.B $14.2B	$10M	0.22%	216,572 +184,609	+578%	+$8.52M
119	119 Campbell Soup CPB $9.52B	$9.96M	0.22%	173,913 +154,887	+814%	+$8.87M
120	120 NCR Voyix VYX $1.82B	$9.95M	0.22%	217,828 +149,617	+219%	+$6.83M
121	121 Logitech LOGI $15.3B	$9.86M	0.22%	309,214 -12,788	-4%	-$408K
122	122 Restaurant Brands International QSR $20.8B	$9.83M	0.22%	176,405 +67,080	+61%	+$3.74M
123	123 Sinclair Inc SBGI $1.01B	$9.74M	0.21%	240,460 +148,197	+161%	+$6M
124	124 Lam Research LRCX $127B	$9.73M	0.21%	75,813 +30,612	+68%	+$3.93M
125	125 Hyatt Hotels H $13.8B	$9.68M	0.21%	179,374 -25,428	-12%	-$1.37M