Neuburgh Advisers Portfolio holdings

AUM $3.22B

1-Year Est. Return 3.75%

2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4

This Quarter Est. Return

1 Year Est. Return

+3.75%

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$3.11B

AUM Growth

+$165M (+5.6%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

938

New

Increased

Reduced

Closed

Top Buys

1		+$49.4M
2		+$30.9M
3		+$13.8M
4	JPMorgan Chase JPM	+$11.3M
5	Wabtec WAB	+$9.45M

Top Sells

1		+$16.4M
2		+$12.3M
3		+$11.5M
4	Fastenal FAST	+$8.64M
5	Bank of New York Mellon BK	+$8.59M

Sector Composition

1	Healthcare	19.09%
2	Financials	15.65%
3	Technology	15.21%
4	Consumer Discretionary	11.67%
5	Industrials	9.15%

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
201	201 Dow Inc DOW $17.6B	$2.3M	0.07%	+46,716
202	202 Hartford Financial Services HIG $35.2B	$2.3M	0.07%	41,208 +16,184
203	203 Goodyear GT $2.07B	$2.26M	0.07%	147,950 -4,356
204	204 United Therapeutics UTHR $18.9B	$2.25M	0.07%	28,832 -14,280
205	205 Albemarle ALB $12.4B	$2.25M	0.07%	31,926 +12,240
206	206 Cadence Design Systems CDNS $94B	$2.24M	0.07%	31,616 -992
207	207 Novartis NVS $252B	$2.24M	0.07%	24,514 +11,461
208	208 DTE Energy DTE $29.4B	$2.22M	0.07%	20,422 -4,394
209	209 Lamb Weston LW $9.25B	$2.21M	0.07%	34,952 +17,680
210	210 HealthEquity HQY $8.31B	$2.21M	0.07%	33,760 +2,160
211	211 Amphenol APH $163B	$2.2M	0.07%	91,696 +9,328
212	212 General Motors GM $65B	$2.2M	0.07%	57,008 +7,664
213	213 Brookfield BN $104B	$2.19M	0.07%	87,034 +51,903
214	214 Simon Property Group SPG $58.1B	$2.18M	0.07%	13,632 +4,080
215	215 3M MMM $89.5B	$2.17M	0.07%	14,998 +1,605
216	216 Citizens Financial Group CFG $22.5B	$2.15M	0.07%	60,672 +20,112
217	217 Northrop Grumman NOC $86.4B	$2.13M	0.07%	6,596 -6,562
218	218 Alliant Energy LNT $17.7B	$2.12M	0.07%	43,146 -306
219	219 Oneok OKE $43.2B	$2.12M	0.07%	30,778 +5,214
220	220 WEC Energy WEC $37.3B	$2.07M	0.07%	24,880 +5,680
221	221 Brown & Brown BRO $29B	$2.05M	0.07%	61,302 +7,684
222	AD 222 Array Digital Infrastructure AD $4.31B	$2.05M	0.07%	45,968 +3,604
223	223 EQT Corp EQT $33.5B	$2.04M	0.07%	128,724 +75,378
224	224 WEX WEX $5.48B	$2.02M	0.06%	9,690 -102
225	225 Alexandria Real Estate Equities ARE $13.2B	$2.01M	0.06%	14,246 +2,924