Emerald Acquisition Portfolio holdings

AUM $51.8B

This Quarter Est. Return

1 Year Est. Return

–

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$51.8B

AUM Growth

-$5.97B (-10%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

3,194

New

Increased

Reduced

Closed

Top Buys

1		+$60.1M
2		+$59.1M
3		+$53.8M
4	DD Du Pont De Nemours E I DD	+$53.3M
5	Kinder Morgan KMI	+$42.8M

Top Sells

1		+$142M
2		+$129M
3		+$128M
4	Wells Fargo WFC	+$121M
5	Corning GLW	+$107M

Sector Composition

1	Financials	18.06%
2	Healthcare	12.4%
3	Technology	11.91%
4	Consumer Discretionary	9.71%
5	Industrials	9.67%

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
1401	1401 Ezcorp Inc EZPW $1.08B	$3.62M	0.01%	327,610 +315,996
1402	LTXB 1402 DELISTED LegacyTexas Financial Group Inc LTXB	$3.62M	0.01%	114,505 -12,676
1403	MGLN 1403 DELISTED Magellan Health Services, Inc. MGLN	$3.62M	0.01%	67,318 -209,194
1404	PTVCB 1404 DELISTED Protective Insurance Corporation Class B Common Stock PTVCB	$3.61M	0.01%	140,812 +28,312
1405	AMED 1405 DELISTED Amedisys AMED	$3.6M	0.01%	75,917 -139,784
1406	ANTX 1406 DELISTED Anthem, Inc. ANTX	$3.59M	0.01%	82,680
1407	1407 Carpenter Technology CRS $15.3B	$3.59M	0.01%	86,967 -46,092
1408	CHCT 1408 Community Healthcare Trust CHCT $418M	$3.59M	0.01%	163,589 +7,696
1409	AMRI 1409 DELISTED Albany Molecular Research Inc AMRI	$3.58M	0.01%	217,126 -20,328
1410	1410 Townsquare Media TSQ $102M	$3.58M	0.01%	383,288 -14,572
1411	1411 U-Haul Holding Co UHAL $10B	$3.56M	0.01%	109,940 -94,570
1412	1412 ITT ITT $14.5B	$3.56M	0.01%	99,332 -42,296
1413	SPLS 1413 DELISTED Staples Inc SPLS	$3.56M	0.01%	416,203 -106,377
1414	1414 Nu Skin NUS $524M	$3.55M	0.01%	54,814 +44,080
1415	NYRT 1415 DELISTED New York REIT, Inc. NYRT	$3.55M	0.01%	38,762 -32,759
1416	1416 Foster FSTR $284M	$3.54M	0.01%	294,647 -46,845
1417	NAVG 1417 DELISTED Navigators Group Inc NAVG	$3.53M	0.01%	72,902 -14,228
1418	1418 Glacier Bancorp GBCI $5.31B	$3.53M	0.01%	123,840 -49,352
1419	BOBE 1419 DELISTED Bob Evans Farms, Inc. BOBE	$3.53M	0.01%	92,104 -36,535
1420	ZEN 1420 DELISTED ZENDESK INC ZEN	$3.52M	0.01%	114,726 +32,274
1421	HW 1421 DELISTED Headwaters Inc HW	$3.52M	0.01%	208,141 -88,416
1422	HLTH 1422 DELISTED Nobilis Health Corp. HLTH	$3.51M	0.01%	1,048,501 -71,539
1423	TLGT 1423 DELISTED Teligent, Inc TLGT	$3.51M	0.01%	46,177
1424	SODA 1424 DELISTED SodaStream International Ltd SODA	$3.51M	0.01%	131,966 -100,744
1425	1425 Commerce Bancshares CBSH $7.12B	$3.5M	0.01%	110,380 -147