Airain Ltd Portfolio holdings

AUM $2.26B

1-Year Est. Return 12.42%

2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Est. Return

1 Year Est. Return

+12.42%

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$2.26B

AUM Growth

+$215M (+11%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

1,194

New

Increased

Reduced

Closed

Top Buys

1		+$31.8M
2		+$24.5M
3		+$21.5M
4	United Airlines UAL	+$20.7M
5	Electronic Arts EA	+$19.2M

Top Sells

1		+$40M
2		+$21.7M
3		+$19.9M
4	AbbVie ABBV	+$18.7M
5	RAI Reynolds American Inc RAI	+$18.3M

Sector Composition

1	Technology	19.14%
2	Consumer Discretionary	14.48%
3	Healthcare	11.98%
4	Industrials	10.47%
5	Energy	10.4%

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
26	CELG 26 DELISTED Celgene Corp CELG	$15.3M	0.68%	118,045 -19,384
27	27 Merck MRK $212B	$15.1M	0.67%	247,073 -3,659
28	28 Microchip Technology MCHP $35.2B	$14.8M	0.66%	384,378 +357,622
29	BCR 29 DELISTED CR Bard Inc. BCR	$14.5M	0.64%	46,007 +34,050
30	30 Intuit INTU $184B	$13.9M	0.62%	104,807 -38,727
31	31 Cognizant CTSH $32.3B	$13.9M	0.62%	209,557 +165,672
32	32 Marriott International MAR $70.8B	$13.6M	0.6%	+135,590
33	PXD 33 DELISTED Pioneer Natural Resource Co. PXD	$13.4M	0.59%	+83,721
34	WBA 34 DELISTED Walgreens Boots Alliance WBA	$13.3M	0.59%	170,450 +95,929
35	SINA 35 DELISTED Sina Corp SINA	$13.3M	0.59%	156,594 +84,019
36	36 Goldman Sachs GS $232B	$13.1M	0.58%	59,044 +41,581
37	37 Pultegroup PHM $24.6B	$12.7M	0.56%	519,614 +100,110
38	LVLT 38 DELISTED Level 3 Communications Inc LVLT	$12.3M	0.55%	208,178 -180,104
39	39 Union Pacific UNP $134B	$12.1M	0.54%	111,278 +55,028
40	NBL 40 DELISTED Noble Energy, Inc. NBL	$11.6M	0.51%	+409,902
41	41 Hilton Worldwide HLT $61.2B	$11.5M	0.51%	+186,263
42	42 Danaher DHR $150B	$11.1M	0.49%	149,019 +142,136
43	43 FedEx FDX $56.1B	$11.1M	0.49%	+51,100
44	44 EOG Resources EOG $58B	$11.1M	0.49%	122,254 +6,298
45	45 Lam Research LRCX $178B	$11M	0.49%	+780,210
46	46 IBM IBM $262B	$11M	0.49%	+74,811
47	47 Tractor Supply TSCO $29.3B	$10.9M	0.48%	1,006,980 +367,115
48	48 Devon Energy DVN $20.1B	$10.9M	0.48%	340,528 -137,359
49	APC 49 DELISTED Anadarko Petroleum APC	$10.9M	0.48%	239,511 +168,543
50	50 Waste Management WM $86.8B	$10.8M	0.48%	147,170 +136,877