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
201	201 iShares MSCI USA Quality Factor ETF QUAL $54.4B	$199K	0.1%	+1,977	New	+$199K
202	202 Robert Half RHI $3.66B	$199K	0.1%	+3,163	New	+$199K
203	203 Morgan Stanley MS $236B	$196K	0.1%	3,851 -289	-7%	-$14.7K
204	204 Synopsys SNPS $112B	$195K	0.1%	1,402 -309	-18%	-$43K
205	205 DocuSign DOCU $16.4B	$194K	0.1%	+2,626	New	+$194K
206	206 CME Group CME $94B	$192K	0.1%	+960	New	+$192K
207	207 Realty Income O $53.8B	$191K	0.1%	+2,685	New	+$191K
208	208 Huntsman Corp HUN $1.91B	$190K	0.09%	+7,893	New	+$190K
209	209 Marathon Petroleum MPC $54.8B	$188K	0.09%	+3,121	New	+$188K
210	210 Old Dominion Freight Line ODFL $31.6B	$188K	0.09%	+2,985	New	+$188K
211	211 PPL Corp PPL $26.3B	$188K	0.09%	+5,241	New	+$188K
212	212 Kohl's KSS $1.84B	$187K	0.09%	+3,685	New	+$187K
213	213 Ball Corp BALL $13.8B	$184K	0.09%	2,849 +347	+14%	+$22.4K
214	214 Lennar Class A LEN $36.9B	$184K	0.09%	3,415 -152	-4%	-$8.19K
215	215 Charles Schwab SCHW $169B	$183K	0.09%	+3,862	New	+$183K
216	216 Phillips 66 PSX $52.5B	$181K	0.09%	+1,629	New	+$181K
217	217 Ecolab ECL $78B	$177K	0.09%	+918	New	+$177K
218	218 PACCAR PCAR $51.3B	$177K	0.09%	+3,375	New	+$177K
219	219 iShares US Financial Services ETF IYG $1.9B	$176K	0.09%	+3,480	New	+$176K
220	220 Celanese CE $5.06B	$175K	0.09%	+1,429	New	+$175K
221	221 Invesco S&P 500 Equal Weight ETF RSP $73.9B	$173K	0.09%	+1,495	New	+$173K
222	222 Booking.com BKNG $180B	$172K	0.09%	+84	New	+$172K
223	223 Polaris PII $3.34B	$172K	0.09%	+1,696	New	+$172K
224	224 Ollie's Bargain Outlet OLLI $8.13B	$171K	0.09%	2,628 -4,121	-61%	-$268K
225	225 iShares iBonds Dec 2026 Term Corporate ETF IBDR $3.34B	$170K	0.08%	+6,666	New	+$170K