GLRA

Gerald L. Ray & Associates Portfolio holdings

AUM $802M

1-Year Est. Return 21.01%

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 2013 Q3 2013 Q2

This Quarter Est. Return

1 Year Est. Return

+21.01%

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$802M

AUM Growth

+$26.7M (+3.4%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

337

New

Increased

Reduced

Closed

Top Buys

1		+$9.5M
2		+$3.51M
3		+$1.96M
4	TECD Tech Data Corp TECD	+$1.36M
5	Qualcomm QCOM	+$606K

Top Sells

1		+$8.72M
2		+$1.76M
3		+$731K
4	Southwest Airlines LUV	+$683K
5	Under Armour UAA	+$636K

Sector Composition

1	Healthcare	22.98%
2	Industrials	14.95%
3	Technology	10.56%
4	Financials	9.61%
5	Consumer Staples	9.48%

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	26 Invesco QQQ Trust QQQ $384B	$7.32M	0.91%	50,337 -1,802
27	27 GE Aerospace GE $318B	$7.24M	0.9%	62,495 -3,547
28	28 Gilead Sciences GILD $152B	$6.59M	0.82%	81,292 -1,800
29	MMP 29 DELISTED Magellan Midstream Partners, L.P. MMP	$6.37M	0.79%	89,686 -606
30	30 Norfolk Southern NSC $65B	$6.34M	0.79%	47,948 +5
31	31 Walmart WMT $859B	$6.15M	0.77%	236,229 -5,250
32	32 Thermo Fisher Scientific TMO $204B	$6.03M	0.75%	31,848 -375
33	33 IBM IBM $262B	$5.7M	0.71%	41,086 +660
34	34 RTX Corp RTX $211B	$5.5M	0.69%	75,344 +1,381
35	35 Vertex Pharmaceuticals VRTX $107B	$5.42M	0.68%	35,670 -1,400
36	36 Pfizer PFE $139B	$5.35M	0.67%	157,898 -12,425
37	37 Exxon Mobil XOM $479B	$5.31M	0.66%	64,828 -1,320
38	38 Merck MRK $212B	$5.22M	0.65%	85,437
39	39 NVIDIA NVDA $4.46T	$5.04M	0.63%	1,126,800 +2,000
40	40 Enterprise Products Partners EPD $65.4B	$4.94M	0.62%	189,393 -2,324
41	41 Estee Lauder EL $36.3B	$4.88M	0.61%	45,234
42	42 iShares Biotechnology ETF IBB $6.17B	$4.86M	0.61%	43,731 -504
43	43 iShares iBoxx $ High Yield Corporate Bond ETF HYG $18.1B	$4.73M	0.59%	53,256 -586
44	44 Chevron CVX $308B	$4.7M	0.59%	40,030 -268
45	KSU 45 DELISTED Kansas City Southern KSU	$4.6M	0.57%	42,330
46	46 iShares US Financial Services ETF IYG $1.89B	$4.59M	0.57%	114,816 +1,284
47	47 FedEx FDX $56.1B	$4.57M	0.57%	20,239
48	48 Cisco CSCO $277B	$4.42M	0.55%	131,271 -2,452
49	49 EOG Resources EOG $58B	$4.26M	0.53%	44,020 -150
50	50 Amazon AMZN $2.27T	$4.23M	0.53%	88,060 +2,100