HPA

Hilltop Park Associates Portfolio holdings

AUM $30.4M

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 Return

+17.93%

1 Year Return

+46.56%

3 Year Return

+181.9%

5 Year Return

–

10 Year Return

–

AUM

$25.9M

AUM Growth

+$25.9M (+2,003%)

Cap. Flow

+$24.9M

Cap. Flow % of AUM

95.84%

Top 10 Holdings % Top 10 Hldgs %

89.97%

Holding

New

Increased

Reduced

–

Closed

Top Buys

1	Alphabet (Google) Class A GOOGL	$5.84M
2	Amazon AMZN	$5.07M
3	First Solar FSLR	$3.3M
4	SPWR SunPower Corporation Common Stock SPWR	$1.65M
5	SYT Syngenta Ag SYT	$1.58M

Top Sells

NXEO

Nexeo Solutions, Inc. Common Stock

NXEO

$43K

Sector Composition

1	Technology	25.94%
2	Communication Services	22.5%
3	Consumer Discretionary	19.55%
4	Industrials	9.65%
5	Materials	6.07%

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
1	1 Alphabet (Google) Class A GOOGL $2.57T	$5.84M	19.44%	+7,500	New	+$5.84M
2	2 Amazon AMZN $2.44T	$5.07M	16.88%	+7,500	New	+$5.07M
3	3 First Solar FSLR $20.9B	$3.3M	10.99%	+50,000	New	+$3.3M
4	SPWR 4 DELISTED SunPower Corporation Common Stock SPWR	$1.65M	5.5%	+55,000	New	+$1.65M
5	SYT 5 DELISTED Syngenta Ag SYT	$1.58M	5.25%	+20,000	New	+$1.58M
6	CXO 6 DELISTED CONCHO RESOURCES INC. CXO	$1.39M	4.64%	+15,000	New	+$1.39M
7	IMPV 7 DELISTED Imperva, Inc. IMPV	$1.27M	4.22%	+20,000	New	+$1.27M
8	CPE 8 DELISTED Callon Petroleum Company CPE	$1.25M	4.17%	+150,000	New	+$1.25M
9	9 Norfolk Southern NSC $62.8B	$1.06M	3.52%	+12,500	New	+$1.06M
10	KSU 10 DELISTED Kansas City Southern KSU	$933K	3.11%	+12,500	New	+$933K
11	APC 11 DELISTED Anadarko Petroleum APC	$729K	2.43%	+15,000	New	+$729K
12	ANTH 12 DELISTED Anthera Pharmaceuticals, Inc. ANTH	$696K	2.32%	150,000 +32,500	+28%	+$151K
13	13 Network-1 Technologies NTIP $34M	$512K	1.71%	245,000 +10,500	+4%	+$21.9K
14	SUNE 14 DELISTED SUNEDISON, INC COM SUNE	$509K	1.7%	+100,000	New	+$509K
15	TPLM 15 DELISTED Triangle Petroleum Corporation TPLM	$154K	0.51%	+200,000	New	+$154K
16	16 Edgewell Personal Care EPC $1.12B	–	–	0	–	–
17	17 Qualcomm QCOM $173B	–	–	0	–	–
18	18 Molson Coors Class B TAP $9.98B	–	–	0	–	–
19	NXEO 19 DELISTED Nexeo Solutions, Inc. Common Stock NXEO	–	–	-4,000	Closed	-$43K
20	XCO 20 DELISTED Exco Resources XCO	–	–	0	–	–