QS Investors Portfolio holdings

AUM $8.47B

1-Year Return 30.71%

2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 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 2013 Q3 2013 Q2

This Quarter Return

+4.12%

1 Year Return

+30.71%

3 Year Return

+50.49%

5 Year Return

+87.52%

10 Year Return

–

AUM

$10.4B

AUM Growth

+$812M (+8.5%)

Cap. Flow

+$517M

Cap. Flow % of AUM

4.99%

Top 10 Holdings % Top 10 Hldgs %

27.17%

Holding

2,130

New

693

Increased

819

Reduced

451

Closed

Top Buys

1	iShares Russell 1000 ETF IWB	+$135M
2	iShares TIPS Bond ETF TIP	+$72.9M
3	Vanguard FTSE All-World ex-US ETF VEU	+$52.1M
4	Alphabet (Google) Class A GOOGL	+$39.5M
5	Microsoft MSFT	+$39.4M

Top Sells

1	SPDR Bloomberg Barclays International Treasury Bond ETF BWX	+$38.8M
2	Alphabet (Google) Class C GOOG	+$37.9M
3	INFN Infinera Corporation Common Stock INFN	+$32.4M
4	VanEck JP Morgan EM Local Currency Bond ETF EMLC	+$28.6M
5	AT&T T	+$26.2M

Sector Composition

1	Healthcare	9.21%
2	Technology	8.17%
3	Financials	7.73%
4	Consumer Discretionary	5.86%
5	Industrials	5.85%

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
1876	1876 Meritage Homes MTH $5.61B	$1K	﹤0.01%	+22	New	+$1K
1877	1877 Manitowoc MTW $362M	$1K	﹤0.01%	+22	New	+$1K
1878	1878 MasTec MTZ $15B	$1K	﹤0.01%	+49	New	+$1K
1879	1879 Murphy USA MUSA $7.53B	$1K	﹤0.01%	+5	New	+$1K
1880	1880 McEwen Inc. MUX $748M	$1K	﹤0.01%	+24	New	+$1K
1881	1881 Myers Industries MYE $587M	$1K	﹤0.01%	+22	New	+$1K
1882	1882 Norwegian Cruise Line NCLH $12B	$1K	﹤0.01%	18 -82	-82%	-$4.56K
1883	1883 Neogen NEOG $1.19B	$1K	﹤0.01%	+13	New	+$1K
1884	1884 NewMarket NEU $7.87B	$1K	﹤0.01%	+1	New	+$1K
1885	1885 NMI Holdings NMIH $3.08B	$1K	﹤0.01%	38 -93,462	-100%	-$2.46M
1886	1886 ServiceNow NOW $193B	$1K	﹤0.01%	+4	New	+$1K
1887	1887 NETSCOUT NTCT $1.8B	$1K	﹤0.01%	10 -119,516	-100%	-$12M
1888	1888 Novavax NVAX $1.3B	$1K	﹤0.01%	+2	New	+$1K
1889	1889 Quanex NX $661M	$1K	﹤0.01%	+23	New	+$1K
1890	1890 Old Dominion Freight Line ODFL $30.5B	$1K	﹤0.01%	+33	New	+$1K
1891	1891 Oceaneering OII $2.43B	$1K	﹤0.01%	+12	New	+$1K
1892	1892 Oil States International OIS $341M	$1K	﹤0.01%	+10	New	+$1K
1893	1893 Omnicell OMCL $1.46B	$1K	﹤0.01%	+37	New	+$1K
1894	1894 OneMain Financial OMF $7.2B	$1K	﹤0.01%	7 -42,193	-100%	-$6.03M
1895	1895 Owens & Minor OMI $412M	$1K	﹤0.01%	+8	New	+$1K
1896	1896 Opko Health OPK $1.11B	$1K	﹤0.01%	+34	New	+$1K
1897	1897 Oshkosh OSK $8.77B	$1K	﹤0.01%	+7	New	+$1K
1898	1898 OSI Systems OSIS $3.95B	$1K	﹤0.01%	+3	New	+$1K
1899	1899 Otter Tail OTTR $3.48B	$1K	﹤0.01%	+13	New	+$1K
1900	1900 Outfront Media OUT $3.16B	$1K	﹤0.01%	+15	New	+$1K