PAM

Princeton Alpha Management Portfolio holdings

AUM $299M

1-Year Return 11.81%

2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4

This Quarter Return

+3.55%

1 Year Return

+11.81%

3 Year Return

-9.27%

5 Year Return

–

10 Year Return

–

AUM

$299M

AUM Growth

-$187M (-38%)

Cap. Flow

-$199M

Cap. Flow % of AUM

-66.51%

Top 10 Holdings % Top 10 Hldgs %

8.84%

Holding

874

New

206

Increased

Reduced

228

Closed

345

Top Buys

1	Intuit INTU	$2.1M
2	Kroger KR	$2.06M
3	JPMorgan Chase JPM	$1.71M
4	Occidental Petroleum OXY	$1.69M
5	HCA Healthcare HCA	$1.68M

Top Sells

1	Target TGT	$4.41M
2	Simon Property Group SPG	$4.26M
3	Stanley Black & Decker SWK	$3.76M
4	Best Buy BBY	$3.5M
5	Bank of America BAC	$3.38M

Sector Composition

1	Financials	16.25%
2	Consumer Discretionary	12.55%
3	Industrials	12.42%
4	Healthcare	11.58%
5	Technology	9.95%

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
376	376 Hanmi Financial HAFC $751M	$274K	0.09%	8,900 -4,812	-35%	-$148K
377	377 Matsons MATX $3.36B	$273K	0.09%	+8,581	New	+$273K
378	378 Cabot Corp CBT $4.31B	$271K	0.09%	4,531 -8,679	-66%	-$519K
379	379 Cheesecake Factory CAKE $3.02B	$271K	0.09%	4,277 -18,306	-81%	-$1.16M
380	380 Sarepta Therapeutics SRPT $1.96B	$270K	0.09%	+9,106	New	+$270K
381	GOV 381 DELISTED Government Properties Income Trust GOV	$270K	0.09%	12,898 +2,663	+26%	+$55.7K
382	TSS 382 DELISTED Total System Services, Inc. TSS	$269K	0.09%	5,037 -3,782	-43%	-$202K
383	383 Vipshop VIPS $8.45B	$265K	0.09%	+19,868	New	+$265K
384	CHL 384 DELISTED China Mobile Limited CHL	$265K	0.09%	+4,802	New	+$265K
385	385 Bruker BRKR $4.68B	$262K	0.09%	11,214 -3,757	-25%	-$87.8K
386	386 Sabre SABR $675M	$261K	0.09%	12,311 +336	+3%	+$7.12K
387	387 Hercules Capital HTGC $3.49B	$260K	0.09%	17,211 +523	+3%	+$7.9K
388	388 Sun Communities SUI $16.2B	$260K	0.09%	+3,238	New	+$260K
389	MDC 389 DELISTED M.D.C. Holdings, Inc. MDC	$260K	0.09%	+10,880	New	+$260K
390	390 Parker-Hannifin PH $96.1B	$259K	0.09%	+1,614	New	+$259K
391	391 American Eagle Outfitters AEO $3.26B	$257K	0.09%	+18,307	New	+$257K
392	392 Genuine Parts GPC $19.4B	$257K	0.09%	+2,785	New	+$257K
393	393 Coca-Cola Europacific Partners CCEP $40.4B	$256K	0.09%	+6,805	New	+$256K
394	394 Patterson-UTI PTEN $2.18B	$256K	0.09%	10,530 -1,834	-15%	-$44.6K
395	395 Zoetis ZTS $67.9B	$256K	0.09%	+4,793	New	+$256K
396	BLUE 396 DELISTED bluebird bio BLUE	$255K	0.09%	216 -60	-22%	-$70.8K
397	397 Fabrinet FN $13.2B	$255K	0.09%	+6,059	New	+$255K
398	398 Adtran ADTN $781M	$254K	0.09%	+12,222	New	+$254K
399	399 Regions Financial RF $24.1B	$253K	0.08%	17,426 -354	-2%	-$5.14K
400	400 Meritage Homes MTH $5.89B	$251K	0.08%	+13,618	New	+$251K