Hoxton Financial Portfolio holdings

AUM $194M

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

-0.57%

1 Year Return

-6.21%

3 Year Return

+15.34%

5 Year Return

–

10 Year Return

–

AUM

$177M

AUM Growth

–

Cap. Flow

+$177M

Cap. Flow % of AUM

100%

Top 10 Holdings % Top 10 Hldgs %

50.58%

Holding

646

New

646

Increased

–

Reduced

–

Closed

–

Top Buys

1	Invesco Dorsey Wright Developed Markets Momentum ETF PIZ	$9.6M
2	First Trust Health Care AlphaDEX Fund FXH	$9.48M
3	Invesco Dorsey Wright Emerging Markets Momentum ETF PIE	$9.45M
4	First Trust Dow Jones Internet Index Fund ETF FDN	$9.43M
5	First Trust Consumer Staples AlphaDEX Fund FXG	$9.36M

Top Sells

No sells this quarter

Sector Composition

1	Consumer Discretionary	2.23%
2	Healthcare	2.04%
3	Financials	2.04%
4	Technology	1.8%
5	Industrials	1.65%

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
176	176 Costco COST $418B	$59K	0.03%	+538	New	+$59K
177	177 HSBC HSBC $224B	$59K	0.03%	+1,146	New	+$59K
178	178 Intercontinental Exchange ICE $101B	$59K	0.03%	+331	New	+$59K
179	179 iShares 7-10 Year Treasury Bond ETF IEF $35.7B	$58K	0.03%	+569	New	+$58K
180	180 Lockheed Martin LMT $106B	$58K	0.03%	+532	New	+$58K
181	WNR 181 DELISTED Western Refining Inc WNR	$58K	0.03%	+2,054	New	+$58K
182	182 Cigna CI $80.3B	$57K	0.03%	+793	New	+$57K
183	183 Kimberly-Clark KMB $42.8B	$56K	0.03%	+577	New	+$56K
184	184 Roper Technologies ROP $56.6B	$56K	0.03%	+454	New	+$56K
185	RENX 185 DELISTED RELX N.V. RENX	$55K	0.03%	+1,649	New	+$55K
186	186 Ecolab ECL $78.6B	$53K	0.03%	+619	New	+$53K
187	187 iShares International Select Dividend ETF IDV $5.77B	$53K	0.03%	+1,659	New	+$53K
188	188 NetApp NTAP $22.6B	$53K	0.03%	+1,403	New	+$53K
189	189 Novartis NVS $245B	$53K	0.03%	+755	New	+$53K
190	190 Occidental Petroleum OXY $46.9B	$52K	0.03%	+585	New	+$52K
191	191 British American Tobacco BTI $124B	$52K	0.03%	+501	New	+$52K
192	192 Amphenol APH $133B	$51K	0.03%	+648	New	+$51K
193	193 eBay EBAY $41.4B	$51K	0.03%	+980	New	+$51K
194	194 Novo Nordisk NVO $251B	$51K	0.03%	+327	New	+$51K
195	BMS 195 DELISTED Bemis BMS	$51K	0.03%	+1,309	New	+$51K
196	196 DaVita DVA $9.85B	$50K	0.03%	+412	New	+$50K
197	SI 197 DELISTED SIEMENS AKTIENGESELLSCHAFT ADS SI	$50K	0.03%	+491	New	+$50K
198	198 Amgen AMGN $155B	$48K	0.03%	+484	New	+$48K
199	UTEK 199 DELISTED Ultratech Inc. UTEK	$48K	0.03%	+1,305	New	+$48K
200	200 Consolidated Edison ED $35.4B	$47K	0.03%	+802	New	+$47K