Kaizen Advisory Portfolio holdings

AUM $144M

1-Year Est. Return 4.99%

2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4

This Quarter Est. Return

1 Year Est. Return

-4.99%

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$144M

AUM Growth

-$47.6M (-25%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

579

New

Increased

Reduced

Closed

Top Buys

1		+$704K
2		+$224K
3		+$206K
4	Johnson & Johnson JNJ	+$142K
5	Amazon AMZN	+$137K

Top Sells

1		+$6.5M
2		+$1.16M
3		+$191K
4	WD-40 WDFC	+$179K
5	NTRI NutriSystem, Inc. NTRI	+$178K

Sector Composition

1	Financials	18.06%
2	Industrials	14.3%
3	Technology	11.38%
4	Consumer Discretionary	11.01%
5	Healthcare	10.35%

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
151	151 Starbucks SBUX $97.9B	$237K	0.16%	3,679 +9
152	152 Bristol-Myers Squibb BMY $89.2B	$230K	0.16%	4,430 +662
153	153 CVS Health CVS $104B	$230K	0.16%	3,512 +1,208
154	154 RTX Corp RTX $240B	$230K	0.16%	3,429 +591
155	155 Gilead Sciences GILD $150B	$225K	0.16%	3,605 +542
156	156 NextEra Energy NEE $174B	$225K	0.16%	5,184 +952
157	157 Linde LIN $209B	$224K	0.16%	+1,437
158	158 Lowe's Companies LOW $136B	$206K	0.14%	2,226 +266
159	159 Caterpillar CAT $245B	$204K	0.14%	1,603 +41
160	160 Cigna CI $80.6B	$194K	0.13%	1,024 +448
161	161 American Tower AMT $89.7B	$192K	0.13%	1,212 +204
162	162 US Bancorp USB $75.1B	$192K	0.13%	4,206 +415
163	163 ConocoPhillips COP $110B	$190K	0.13%	3,048 +379
164	164 CME Group CME $97.1B	$185K	0.13%	984 +168
165	165 Qualcomm QCOM $182B	$184K	0.13%	3,232 -471
166	166 American Express AXP $246B	$183K	0.13%	1,922 +205
167	167 United Parcel Service UPS $73.9B	$183K	0.13%	1,873 +137
168	168 Elevance Health ELV $76.1B	$181K	0.13%	688 +90
169	169 Lockheed Martin LMT $112B	$179K	0.12%	685 +64
170	170 Danaher DHR $158B	$175K	0.12%	1,919 +268
171	171 GE Aerospace GE $321B	$173K	0.12%	4,770 +694
172	172 Biogen BIIB $22B	$168K	0.12%	559 +60
173	173 Chubb CB $111B	$167K	0.12%	1,289 +131
174	174 Duke Energy DUK $99B	$166K	0.12%	1,926 +386
175	175 Becton Dickinson BDX $53.3B	$165K	0.11%	750 +126