IMS

Index Management Solutions Portfolio holdings

AUM $101M

1-Year Return 12.08%

2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3

This Quarter Return

-9.48%

1 Year Return

-12.08%

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$727M

AUM Growth

-$151M (-17%)

Cap. Flow

-$43.3M

Cap. Flow % of AUM

-5.97%

Top 10 Holdings % Top 10 Hldgs %

23.68%

Holding

1,183

New

109

Increased

256

Reduced

429

Closed

388

Top Buys

1	Alibaba BABA	+$23.5M
2	JD.com JD	+$8.03M
3	NetEase NTES	+$6.66M
4	NGL Energy Partners NGL	+$5.88M
5	SINA Sina Corp SINA	+$5.09M

Top Sells

1	QRE QR ENERGY LP UNIT LTD PARTNERSHIP INT (DE) QRE	+$16.7M
2	JGT NUVEEN DIVERSIFIED CURRENCY OPPORTUNIES FUND(USA) JGT	+$2.98M
3	EPB EL PASO PIPELINE PARTNERS, L.P. COM UNITS REPSTG LTD PART EPB	+$2.32M
4	KMP KINDER MORGAN ENER PNTRS L.P. KMP	+$2.18M
5	AGN Allergan plc AGN	+$1.86M

Sector Composition

1	Energy	22.35%
2	Consumer Discretionary	14.13%
3	Industrials	13.45%
4	Communication Services	10.05%
5	Technology	8.19%

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
401	PDCO 401 DELISTED Patterson Companies, Inc. PDCO	$44K	0.01%	908 -9,971	-92%	-$483K
402	TWX 402 DELISTED Time Warner Inc TWX	$44K	0.01%	514 -52	-9%	-$4.45K
403	INFA 403 DELISTED INFORMATICA CORP INFA	$44K	0.01%	+1,161	New	+$44K
404	404 AutoZone AZO $72.8B	$43K	0.01%	70 -20	-22%	-$12.3K
405	405 Becton Dickinson BDX $54.6B	$43K	0.01%	316 -3,685	-92%	-$501K
406	406 Costco COST $428B	$43K	0.01%	317 -120	-27%	-$16.3K
407	407 CVS Health CVS $94.7B	$43K	0.01%	445 -8,966	-95%	-$866K
408	408 Electronic Arts EA $42.5B	$43K	0.01%	921 -958	-51%	-$44.7K
409	409 NextEra Energy, Inc. NEE $147B	$43K	0.01%	1,636 -3,320	-67%	-$87.3K
410	410 Newell Brands NWL $2.55B	$43K	0.01%	1,125 -203	-15%	-$7.76K
411	411 Target TGT $41.6B	$43K	0.01%	566 -779	-58%	-$59.2K
412	412 Viatris VTRS $11.9B	$43K	0.01%	768 +3	+0.4%	+$168
413	413 Dollar General DG $23.2B	$42K	0.01%	590 -271	-31%	-$19.3K
414	414 DTE Energy DTE $28.4B	$42K	0.01%	578 -3,283	-85%	-$239K
415	415 Goodyear GT $2.45B	$42K	0.01%	1,476 +111	+8%	+$3.16K
416	JWN 416 DELISTED Nordstrom JWN	$42K	0.01%	535 -4,112	-88%	-$323K
417	417 Leggett & Platt LEG $1.34B	$42K	0.01%	983 -8,452	-90%	-$361K
418	418 Ralph Lauren RL $19.2B	$42K	0.01%	225 -1,759	-89%	-$328K
419	COV 419 DELISTED COVIDIEN PLC COM SHS NEW (IRELAND) COV	$42K	0.01%	406 -4,815	-92%	-$498K
420	420 Aptiv APTV $18.2B	$41K	0.01%	560 -10	-2%	-$732
421	421 C.H. Robinson CHRW $15.5B	$41K	0.01%	552 -375	-40%	-$27.9K
422	422 Graham Holdings Company GHC $5.13B	$41K	0.01%	79 -43	-35%	-$22.3K
423	423 Genworth Financial GNW $3.62B	$41K	0.01%	4,869 -7,998	-62%	-$67.3K
424	424 Genuine Parts GPC $19.9B	$41K	0.01%	386 -4,340	-92%	-$461K
425	425 International Flavors & Fragrances IFF $17B	$41K	0.01%	403 +329	+445%	+$33.5K