JRJ

Jeffrey R. Jay Portfolio holdings

AUM $120M

2013 Q2

This Quarter Return

+7.26%

1 Year Return

–

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$120M

AUM Growth

–

Cap. Flow

+$120M

Cap. Flow % of AUM

100%

Top 10 Holdings % Top 10 Hldgs %

75.88%

Holding

New

Increased

–

Reduced

–

Closed

–

Top Buys

1	HPTX HYPERION THERAPEUTICS INC COM STK (DE) HPTX	$21.2M
2	FURX FURIEX PHARMACEUTICALS INC COM STK (DE) FURX	$16.8M
3	STML Stemline Therapeutics, Inc. STML	$14.2M
4	ALBO Albireo Pharma, Inc. Common Stock ALBO	$7.75M
5	AMBI AMBIT BIOSCIENCES CORP COM STK (DE) AMBI	$7M

Top Sells

No sells this quarter

Sector Composition

Healthcare

50.49%

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	HPTX 1 DELISTED HYPERION THERAPEUTICS INC COM STK (DE) HPTX	$21.2M	16.76%	+963,961	New	+$21.2M
2	FURX 2 DELISTED FURIEX PHARMACEUTICALS INC COM STK (DE) FURX	$16.8M	13.3%	+494,100	New	+$16.8M
3	STML 3 DELISTED Stemline Therapeutics, Inc. STML	$14.2M	11.22%	+595,493	New	+$14.2M
4	ALBO 4 DELISTED Albireo Pharma, Inc. Common Stock ALBO	$7.75M	6.12%	+1,853,845	New	+$7.75M
5	AMBI 5 DELISTED AMBIT BIOSCIENCES CORP COM STK (DE) AMBI	$7M	5.53%	+1,000,000	New	+$7M
6	6 Geron GERN $893M	$5.63M	4.45%	+3,750,000	New	+$5.62M
7	7 Cassava Sciences SAVA $107M	$5.13M	4.06%	+2,322,769	New	+$5.13M
8	8 Nuwellis NUWE $4.44M	$5.1M	4.03%	950,000 +950,000	–	–
9	DRTX 9 DELISTED DURATA THERAPEUTICS INC COM STK (DE) DRTX	$4.6M	3.64%	+639,433	New	+$4.6M
10	NDZ 10 DELISTED NORDION INC COM STK (CDA) NDZ	$3.98M	3.14%	+537,500	New	+$3.98M
11	HZNP 11 DELISTED Horizon Therapeutics Public Limited Company Ordinary Shares HZNP	$3.93M	3.1%	+1,596,720	New	+$3.93M
12	12 Achieve Life Sciences ACHV $146M	$3.4M	2.69%	+347,004	New	+$3.4M
13	TRIB 13 Trinity Biotech TRIB $4.96M	$2.75M	2.17%	+163,140	New	+$2.75M
14	SRGA 14 DELISTED Surgalign Holdings, Inc. Common Stock SRGA	$2.53M	2%	+673,898	New	+$2.53M
15	DYAX 15 DELISTED DYAX CORPORATION DYAX	$2.52M	1.99%	+728,063	New	+$2.52M
16	16 Savara SVRA $591M	$2.49M	1.97%	+5,800,000	New	+$2.49M
17	17 Protalix BioTherapeutics PLX $128M	$1.96M	1.55%	+399,007	New	+$1.96M
18	VOLC 18 DELISTED VOLCANO CORPORATION COM STK VOLC	$1.81M	1.43%	+100,000	New	+$1.81M
19	19 Gyre Therapeutics GYRE $734M	$1.57M	1.24%	+367,709	New	+$1.57M
20	XNPT 20 DELISTED XENOPORT, INC. XNPT	$1.15M	0.91%	+232,977	New	+$1.15M
21	21 MEI Pharma MEIP $149M	$1.12M	0.89%	+157,661	New	+$1.12M
22	PTX 22 DELISTED Pernix Therapeutics Holdings, Inc. PTX	$1.07M	0.85%	+297,187	New	+$1.07M
23	PTN 23 DELISTED Palatin Technologies PTN	$1.06M	0.84%	+1,712,807	New	+$1.06M
24	VASC 24 DELISTED Vascular Solutions Inc VASC	$680K	0.54%	+46,200	New	+$680K
25	25 Imunon IMNN $14.4M	$190K	0.15%	+186,200	New	+$190K