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

+0.43%

1 Year Return

+11.81%

3 Year Return

-9.27%

5 Year Return

–

10 Year Return

–

AUM

$582M

AUM Growth

+$94.8M (+19%)

Cap. Flow

+$93.4M

Cap. Flow % of AUM

16.06%

Top 10 Holdings % Top 10 Hldgs %

8.48%

Holding

1,073

New

383

Increased

187

Reduced

120

Closed

383

Top Buys

1	Fidelity National Information Services FIS	+$5.13M
2	Intuit INTU	+$4.87M
3	Nike NKE	+$4.84M
4	Cognizant CTSH	+$4.27M
5	Walt Disney DIS	+$4.11M

Top Sells

1	Trane Technologies TT	+$4.44M
2	MJN Mead Johnson Nutrition Company MJN	+$4.19M
3	Macy's M	+$3.52M
4	Las Vegas Sands LVS	+$3.23M
5	Aon AON	+$3.12M

Sector Composition

1	Industrials	13.61%
2	Technology	13.39%
3	Consumer Discretionary	13.03%
4	Financials	12.52%
5	Healthcare	9.72%

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	CNR 401 DELISTED Cornerstone Building Brands, Inc. CNR	$408K	0.07%	+32,913	New	+$408K
402	402 HEICO HEI $44.1B	$407K	0.07%	+18,269	New	+$407K
403	PTLA 403 DELISTED Portola Pharmaceuticals, Inc. PTLA	$405K	0.07%	+7,871	New	+$405K
404	404 DigitalBridge DBRG $2.03B	$403K	0.07%	8,309 -6,954	-46%	-$337K
405	VIVO 405 DELISTED Meridian Bioscience Inc VIVO	$401K	0.07%	19,554 -7,462	-28%	-$153K
406	406 Charles River Laboratories CRL $7.54B	$400K	0.07%	+4,970	New	+$400K
407	AHT 407 Ashford Hospitality Trust AHT $38M	$399K	0.07%	64 +22	+52%	+$137K
408	AMSG 408 DELISTED Amsurg Corp AMSG	$399K	0.07%	+5,251	New	+$399K
409	SRCI 409 DELISTED SRC Energy Inc SRCI	$395K	0.07%	+46,414	New	+$395K
410	410 Gen Digital GEN $18B	$393K	0.07%	18,724 +3,900	+26%	+$81.9K
411	411 Intercontinental Exchange ICE $98.6B	$393K	0.07%	+7,665	New	+$393K
412	SOHU 412 Sohu.com SOHU $474M	$393K	0.07%	+6,878	New	+$393K
413	413 Korn Ferry KFY $3.81B	$392K	0.07%	+11,826	New	+$392K
414	414 Quanex NX $697M	$390K	0.07%	18,725 +727	+4%	+$15.1K
415	415 VF Corp VFC $5.85B	$390K	0.07%	6,652 -16,904	-72%	-$991K
416	416 Coca-Cola KO $292B	$388K	0.07%	+9,042	New	+$388K
417	417 JD.com JD $47.2B	$385K	0.07%	+11,941	New	+$385K
418	418 Vipshop VIPS $8.85B	$385K	0.07%	+25,207	New	+$385K
419	419 Premier PINC $2.21B	$384K	0.07%	+10,893	New	+$384K
420	CHL 420 DELISTED China Mobile Limited CHL	$381K	0.07%	+6,764	New	+$381K
421	421 ICU Medical ICUI $3.3B	$379K	0.07%	+3,361	New	+$379K
422	422 Teradyne TER $18.7B	$377K	0.06%	+18,239	New	+$377K
423	423 Jack in the Box JACK $345M	$375K	0.06%	4,883 +207	+4%	+$15.9K
424	424 Kulicke & Soffa KLIC $1.98B	$374K	0.06%	+32,054	New	+$374K
425	425 Stanley Black & Decker SWK $11.9B	$374K	0.06%	+3,508	New	+$374K