SMFS

Squar Milner Financial Services Portfolio holdings

AUM $176M

1-Year Return 10.63%

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

This Quarter Return

+7.62%

1 Year Return

+10.63%

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$200M

AUM Growth

+$4.48M (+2.3%)

Cap. Flow

-$577K

Cap. Flow % of AUM

-0.29%

Top 10 Holdings % Top 10 Hldgs %

32.98%

Holding

898

New

676

Increased

Reduced

143

Closed

Top Buys

1	SPDR Bloomberg 1-3 Month T-Bill ETF BIL	$12.8M
2	Invesco S&P 500 Low Volatility ETF SPLV	$7.2M
3	SPDR Portfolio S&P 500 Growth ETF SPYG	$2.94M
4	PIMCO Enhanced Short Maturity Active Exchange-Traded Fund MINT	$2.58M
5	SPDR S&P Dividend ETF SDY	$1.77M

Top Sells

1	Apple AAPL	$11.3M
2	iShares 1-3 Year Treasury Bond ETF SHY	$7.9M
3	iShares Ultra Short Duration Bond Active ETF ICSH	$5.82M
4	SPDR S&P 500 ETF Trust SPY	$4.05M
5	iShares S&P 100 ETF OEF	$3.54M

Sector Composition

1	Technology	12.68%
2	Financials	7.28%
3	Healthcare	7.09%
4	Consumer Discretionary	5.15%
5	Industrials	4.49%

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
276	276 WEX WEX $5.9B	$128K	0.06%	+615	New	+$128K
277	KSU 277 DELISTED Kansas City Southern KSU	$128K	0.06%	+842	New	+$128K
278	278 Texas Instruments TXN $168B	$127K	0.06%	+995	New	+$127K
279	279 Lockheed Martin LMT $108B	$124K	0.06%	+320	New	+$124K
280	280 Omnicom Group OMC $15.3B	$124K	0.06%	1,536 -3,826	-71%	-$309K
281	281 DXC Technology DXC $2.62B	$122K	0.06%	+3,265	New	+$122K
282	282 Hanesbrands HBI $2.23B	$122K	0.06%	+8,278	New	+$122K
283	283 Pool Corp POOL $12.4B	$121K	0.06%	573 -171	-23%	-$36.1K
284	284 Chefs' Warehouse CHEF $2.61B	$120K	0.06%	+3,170	New	+$120K
285	285 Huntington Bancshares HBAN $25.8B	$120K	0.06%	+8,000	New	+$120K
286	286 Saic SAIC $4.72B	$120K	0.06%	+1,379	New	+$120K
287	287 Sherwin-Williams SHW $93.2B	$119K	0.06%	+615	New	+$119K
288	288 Sempra SRE $52.1B	$119K	0.06%	+1,572	New	+$119K
289	289 Vodafone VOD $28.4B	$119K	0.06%	+6,173	New	+$119K
290	290 WisdomTree US LargeCap Dividend Fund DLN $5.25B	$118K	0.06%	+2,240	New	+$118K
291	291 iShares MSCI Germany ETF EWG $2.52B	$117K	0.06%	4,000 -22,113	-85%	-$647K
292	292 Lumen LUMN $4.92B	$117K	0.06%	+8,892	New	+$117K
293	293 Invesco S&P 500 Equal Weight Health Care ETF RSPH $710M	$117K	0.06%	+5,290	New	+$117K
294	294 Vanguard Small-Cap ETF VB $67.2B	$116K	0.06%	+704	New	+$116K
295	295 HEICO Class A HEI.A $35.2B	$115K	0.06%	1,295 -1,270	-50%	-$113K
296	296 Kimberly-Clark KMB $42.8B	$115K	0.06%	+840	New	+$115K
297	297 Oneok OKE $45.2B	$115K	0.06%	+1,522	New	+$115K
298	298 Teleflex TFX $5.78B	$115K	0.06%	+307	New	+$115K
299	299 Technology Select Sector SPDR Fund XLK $84.9B	$115K	0.06%	1,255 -612	-33%	-$56.1K
300	300 AB InBev BUD $116B	$114K	0.06%	+1,395	New	+$114K