Argentiere Capital Portfolio holdings

AUM $1.33M

2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 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 2014 Q2 2014 Q1 2013 Q4

This Quarter Return

+2.32%

1 Year Return

-3.71%

3 Year Return

+5.98%

5 Year Return

+14.32%

10 Year Return

–

AUM

$186M

AUM Growth

+$186M (+125%)

Cap. Flow

+$101M

Cap. Flow % of AUM

54.18%

Top 10 Holdings % Top 10 Hldgs %

69.97%

Holding

New

Increased

Reduced

Closed

Top Buys

1	AGN Allergan plc AGN	$61.8M
2	iShares MSCI Emerging Markets ETF EEM	$13.5M
3	Medtronic MDT	$5.53M
4	NXP Semiconductors NXPI	$4.9M
5	SWFT Swift Transportation Company SWFT	$4.63M

Top Sells

1	WisdomTree Japan Hedged Equity Fund DXJ	$27.5M
2	AT&T T	$5.07M
3	LNKD LinkedIn Corporation LNKD	$4.78M
4	Costco COST	$4.56M
5	Home Depot HD	$3.45M

Sector Composition

1	Healthcare	43.49%
2	Financials	18.44%
3	Industrials	11.97%
4	Technology	9.57%
5	Energy	2.78%

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
26	26 Alibaba BABA $322B	$1.91M	0.9%	+21,692	New	+$1.91M
27	27 Patterson-UTI PTEN $2.24B	$1.88M	0.89%	+70,000	New	+$1.88M
28	XEC 28 DELISTED CIMAREX ENERGY CO XEC	$1.8M	0.85%	+13,259	New	+$1.8M
29	29 Old Dominion Freight Line ODFL $31.7B	$1.72M	0.81%	+20,000	New	+$1.72M
30	30 Nabors Industries NBR $543M	$1.48M	0.7%	+90,000	New	+$1.48M
31	31 American Airlines Group AAL $8.82B	$1.44M	0.68%	30,778 +15,778	+105%	+$737K
32	32 Toll Brothers TOL $13.4B	$1.42M	0.67%	+45,700	New	+$1.42M
33	33 Apple AAPL $3.45T	$1.16M	0.55%	+10,009	New	+$1.16M
34	34 Mastercard MA $538B	$1.1M	0.52%	+10,602	New	+$1.1M
35	35 Western Digital WDC $27.9B	$1.02M	0.48%	+15,000	New	+$1.02M
36	36 Ally Financial ALLY $12.6B	–	–	-45,000	Closed	-$876K
37	37 Amazon AMZN $2.44T	–	–	0	–	–
38	38 Costco COST $418B	–	–	-29,882	Closed	-$4.56M
39	39 CSX Corp CSX $60.6B	–	–	0	–	–
40	40 Chevron CVX $324B	–	–	0	–	–
41	41 Walt Disney DIS $213B	–	–	-16,953	Closed	-$1.57M
42	42 WisdomTree Japan Hedged Equity Fund DXJ $3.7B	–	–	-640,400	Closed	-$27.5M
43	43 iShares MSCI Japan ETF EWJ $15.3B	–	–	0	–	–
44	44 iShares MSCI Brazil ETF EWZ $5.45B	–	–	0	–	–
45	45 SPDR Gold Trust GLD $107B	–	–	0	–	–
46	46 General Motors GM $55.8B	–	–	0	–	–
47	47 Home Depot HD $405B	–	–	-26,776	Closed	-$3.45M
48	48 iShares Biotechnology ETF IBB $5.6B	–	–	0	–	–
49	49 Oracle ORCL $635B	–	–	-45,175	Closed	-$1.77M
50	50 Schlumberger SLB $55B	–	–	0	–	–