CPP

Crow Point Partners Portfolio holdings

AUM $58.8M

1-Year Return 32.62%

2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2015 Q3 2015 Q2 2015 Q1 2014 Q3 2014 Q2 2014 Q1

This Quarter Return

+0.34%

1 Year Return

+32.62%

3 Year Return

+55.82%

5 Year Return

–

10 Year Return

–

AUM

$635M

AUM Growth

+$10.6M (+1.7%)

Cap. Flow

+$11.1M

Cap. Flow % of AUM

1.75%

Top 10 Holdings % Top 10 Hldgs %

46.98%

Holding

333

New

Increased

Reduced

Closed

Top Buys

1	Sempra SRE	$9.11M
2	Entergy ETR	$8.12M
3	DTJ DTE Energy Company 2016 Series B 5.375% Junior Subordinated Debentures due 2076 DTJ	$5.12M
4	SSWA Seaspan Corporation 7.125 Percent Notes due 2027 SSWA	$4.85M
5	DTW DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077 DTW	$3.79M

Top Sells

1	Chunghwa Telecom CHT	$6.23M
2	Verizon VZ	$5.34M
3	EQT Corp EQT	$4.88M
4	FirstEnergy FE	$3.05M
5	CLDT Chatham Lodging CLDT	$2.31M

Sector Composition

1	Utilities	55.39%
2	Communication Services	10.09%
3	Financials	8.08%
4	Real Estate	3.6%
5	Energy	2.17%

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
201	CERN 201 DELISTED Cerner Corp CERN	$50K	0.01%	+729	New	+$50K
202	202 Microsoft MSFT $3.68T	$49K	0.01%	573 -1,849	-76%	-$158K
203	203 Interface TILE $1.64B	$49K	0.01%	+1,977	New	+$49K
204	204 Mid-America Apartment Communities MAA $17B	$47K	0.01%	469 -2,958	-86%	-$296K
205	205 Qorvo QRVO $8.61B	$47K	0.01%	+700	New	+$47K
206	206 Teladoc Health TDOC $1.38B	$47K	0.01%	+1,337	New	+$47K
207	207 Five Below FIVE $8.46B	$46K	0.01%	+673	New	+$46K
208	LOGM 208 DELISTED LogMein, Inc. LOGM	$46K	0.01%	+399	New	+$46K
209	209 TopBuild BLD $12.3B	$45K	0.01%	+597	New	+$45K
210	210 e.l.f. Beauty ELF $7.6B	$43K	0.01%	+1,898	New	+$43K
211	STL 211 DELISTED Sterling Bancorp STL	$43K	0.01%	+1,710	New	+$43K
212	212 Equity Bancshares EQBK $811M	$42K	0.01%	+1,200	New	+$42K
213	OCLR 213 DELISTED Oclaro Inc. OCLR	$42K	0.01%	+6,138	New	+$42K
214	214 Duluth Holdings DLTH $142M	$41K	0.01%	+2,310	New	+$41K
215	215 Twilio TWLO $16.7B	$40K	0.01%	+1,658	New	+$40K
216	216 NVIDIA NVDA $4.07T	$39K	0.01%	8,000 -129,440	-94%	-$631K
217	217 Navigator Holdings NVGS $1.11B	$39K	0.01%	+3,935	New	+$39K
218	218 Watsco WSO $16.6B	$39K	0.01%	+225	New	+$39K
219	QUOT 219 DELISTED Quotient Technology Inc QUOT	$38K	0.01%	+3,248	New	+$38K
220	MOBL 220 DELISTED MobileIron, Inc. MOBL	$38K	0.01%	+9,705	New	+$38K
221	221 MarketAxess Holdings MKTX $7.01B	$36K	0.01%	176 -1,446	-89%	-$296K
222	NVRO 222 DELISTED NEVRO CORP. NVRO	$34K	0.01%	+475	New	+$34K
223	223 Costco COST $427B	$33K	0.01%	177 -1,980	-92%	-$369K
224	224 Nektar Therapeutics NKTR $764M	$33K	0.01%	+36	New	+$33K
225	225 ServiceNow NOW $190B	$33K	0.01%	249	–	–