June 2020 - Lewis Rosen Groupand other financial information. Please consult with your tax advisor to determine whether you must file and pay tax from your account. Companies Under

GLOBAL RESEARCH | PUBLISHED BYRAYMOND JAMES & ASSOCIATES

June 2020

© 2020 Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. All rights reserved.International Headquarters: The Raymond James Financial Center | 880 Carillon Parkway | St. Petersburg, Florida 33716 | 800-248-8863

2 Raymond James Research Register - June 2020

Contents

Consumer USA . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . . 21

Energy USA . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . . 27

Financial Services USA . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . . 37

Healthcare USA . . . . . . . . . . . . . . . . . . . . . . . . . . 39

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 43

Industrial USA . . . . . . . . . . . . . . . . . . . . . . . . . . 45

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 46

Mining & Natural Resources CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 48

Real Estate USA . . . . . . . . . . . . . . . . . . . . . . . . . . 51

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 54

Technology & Communications USA . . . . . . . . . . . . . . . . . . . . . . . . . . 56

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 61

Transportation USA . . . . . . . . . . . . . . . . . . . . . . . . . . 63

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 65

Analyst Index ................................................................. 3

Upcoming Events ............................................................ 4

Research Coverage Changes ............................................. 4

About This Publication .................................................... 5

Company Index .............................................................. 7

Companies Under Coverage ............................................ 18

Research Analysts andSales & Trading Directories

USA, Canada and Europe . . . . 66

Analyst Index

Raymond James Research Register - June 2020 3

Joseph Altobello, CFA (JA) ......................... 18

Frederic Bastien, CFA (FB) ..................27,46,54

Jayson Bedford (JB) .................................. 39

Felix Boeschen (FB) ...............................45,63

Stephen Boland, CFA (SB) .......................... 37

Andrew Bradford, CFA (AB) .........................27

Patrick Tyler Brown, CFA (TB) ................. 45,63

Chris Caso (CC) ......................................... 56

Ben Cherniavsky (BC) ............................ 46,65

Andrew Cooper (AC) .................................. 39

Chris Cox, CFA (CC) ................................... 27

William A. Crow (WAC) ............................... 51

Sam Darkatsh (SD) ................................18,45

John Davis (JD) ........................................ 56

Robert Dodd, Ph.D. (RD) ............................ 31

Melissa Fairbanks (MF) .............................. 56

David P. Feaster, Jr., CFA (DF) ..................... 31

John Freeman, CFA (JF) ............................. 23

Brian Gesuale (BG) .................................... 56

Michael Glen, CFA (MG) .............................. 21

Bobby Griffin, CFA (BG) .............................. 18

Farooq Hamed, CA (FH) ............................. 48

Steve Hansen, CFA, CPA, CMA (SH) ...... 46,48,65

Buck Horne, CFA (BH) ................................ 51

Jonathan Hughes, CFA (JH) ........................ 51

Justin Jenkins (JJ) .................................... 23

Aaron Kessler, CFA (AK) ............................. 56

Lawrence Keusch (LK) ............................... 39

Stephen Laws (SLa) .................................. 51

Dane Leone, CFA (DL) ............................ 39,43

Simon Leopold (SL) ...................................56

Steven Li, CFA (SLi) ................................... 61

David J. Long, CFA (DJL) ............................ 31

Frank G. Louthan, IV (FGL) ......................... 56

Brian MacArthur, CFA (BMa) ....................... 48

Robert Majek (RM) .................................... 56

Matthew McClintock, CFA, CPA (MM) ............ 18

Jeremy McCrea, CFA (JM) ........................... 27

Collin Mings, CFA (CM) ............................... 51

Pavel Molchanov (PM) ............................... 23

Praveen Narra, CFA (PN) ............................ 23

David Novak, MSc (DN) .............................. 43

Patrick O'Shaughnessy, CFA (PO) ................ 31

C. Gregory Peters (CGP) ............................. 31

Brian Peterson, CFA (BP) ............................56

Ric Prentiss (RP) ....................................... 56

David Quezada, CFA (DQ) ....................... 27,46

John W. Ransom (JWR) ......................... 31,39

Johann Rodrigues (JR) .............................. 54

Michael Rose (MR) .................................... 31

Ammar M. Samma (AS) .............................. 31

Rahul Sarugaser, PhD, MASc (RS) ................ 43

Steven Seedhouse, Ph.D. (SS) ..................... 39

Alexander Sklar, CPA, CFA (AS) ....................56

Daryl Swetlishoff, CFA (DS) ................ 46,48,65

Savanthi Syth, CFA (SS) ............................. 63

Daniel Tamayo, CFA (DT) ........................... 31

Adam Tindle, CFA (AT) ............................... 56

Brian M. Vaccaro, CFA (BV) ......................... 18

William J. Wallace IV (WW) ......................... 31

J.R. Weston, CFA (JRW) .............................. 23

Elliot Wilbur, CFA (EW) ............................... 39

Joshua Wilson, CFA (JW) ........................ 18,45


Upcoming Events

Human Health Innovations Conference (USA)June 16-17, 2020; Virtual

Research Coverage Changes

.


About This Publication

The Equity Research Register is a monthly statistical summary of financial data. It is compiled from information from eachof the contributing entities. Following are some general notes about the information contained in this publication.

Symbol and Exchange = the stock exchange where the largest volume of the equity trades and the company’s ticker onthat exchange. Specific exchange abbreviations are defined on the following page.

Currency = U.S. dollars unless otherwise noted. Currencies are defined on the following page.

Closing Price = last price from indicated date on the indicated stock exchange.

Target Price = Raymond James & Associates (USA) has target prices only for stocks with Strong Buy 1 or Outperform 2ratings. Raymond James Ltd. (Canada) has target prices for all stock ratings. Projected 12-month price targets may notreflect recent stronger price action in a specific stock.

Earnings = EPS unless otherwise denoted. Currency for earnings is the same as that of the Closing Price unless otherwisedenoted. In situations where the currency for the closing price differs from the currency for earnings, a currencyadjustment factor has been employed. See Footnotes on the following page.

Analysts = the initials of the lead analyst on the specific stock and the secondary analyst if applicable.

Definitions of Stock and Suitability Ratings can be found in the Disclosures section at the back of this publication.

International� investments� involve�additional�risks�such�as�currency�fluctuations,�differing�financial�accounting�standards,and�possible�political�and�economic�instability. Any foreign securities discussed in this report are generally not eligible forsale in the U.S. unless they are listed on a U.S. exchange. Investing in securities of issuers organized outside of the U.S.,including ADRs, may entail certain risks. The securities of non-U.S. issuers may not be registered with, nor be subject tothe reporting requirements of, the U.S. Securities and Exchange Commission. There may be limited information availableon such securities. This report is being provided for informational purposes only and does not represent a solicitation forthe purchase or sale of a security in any state where such a solicitation would be illegal. Please ask your Financial Advisorfor additional details and to determine if a particular security is eligible for solicitation in your state.

Limited�Partnerships�may�generate�Unrelated�Business�Taxable�Income�(UBTI),�which�can�create�a�tax�liability�that�must�bepaid�from�a�retirement�account. You should receive a Schedule K-1 from the partnership annually that would include UBTIand other financial information. Please consult with your tax advisor to determine whether you must file and pay tax fromyour account.

Companies Under CoverageUSA Canada

June 2020 883 212

June 2019 900 234


Exchanges

B -- BATS BZXEPA -- Euronext ParisL -- London Stock exchangeM -- NYSE American Stock ExchangeMAD -- Madrid Stock Exchange

N -- NYSEO -- OTC MarketsQ -- NASDAQT -- TSXV -- TSX Venture

Currencies

p -- British pence£ -- British poundC$ -- Canadian dollar

€ -- EuroUS$ or $ -- U.S. dollar

Footnotes

NA -- Not AvailableNM -- Not MeaningfulR -- Research RestrictedUR -- Under Review

$D -- EPS is shown in US dollars.

$E -- EPS is shown in Euros.

$R -- EPS is shown in South African rand.

ad -- EPS is Funds Available for Distribution (FAD).

ae -- EPS is Adjusted EBITDA.

af -- EPS is Adjusted funds from Operations (AFFO).

ar -- EPS is Adjusted EPS.

bv -- EPS is BVPS.

c -- EPS is Core EPS.

ca -- EPS is Cash Available for Distribution/Share.

cb -- EPS is EBITDA (mil.).

cc -- EPS is C-EBITDA (mil.).

ce -- EPS is Cash EPS.

cf -- EPS is Cash Flow per share.

cn -- EPS is Core Net Investment Income per share.

CNY -- EPS is shown in China Yuan Renminbi (CNY).

co -- EPS is Core FFO.

cu -- EPS is Cash Distribution Per Unit.

ds -- EPS is Dividends/Share.

ed -- EPS is Non-GAAP Earnings per ADS.

f -- Fiscal years ending before May are treated as previous year.

fa -- EPS is Adjusted Free Cash Flow per Share.

fc -- EPS is Free Cash Flow/Share.

g -- EPS is GAAP EPS.

gu -- EPS is GAAP Earnings Per Limited Partner Units (EPU).

ng -- EPS is Non-GAAP EPS.

oi -- EPS is Operating Income Before Depreciation and Amortization(OIBDA).

q -- EPS is Operating EPS.

qu -- EPS is Operating Earnings Per Limited Partner Units (EPU).

r -- Figures are based on ADRs/ADSs.

re -- EPS is Revenue.

u -- EPS is Earnings Per Limited Partner Units (EPU).

x -- EPS is Funds From Operations (FFO).

Company Index


1st Constitution Bancorp (FCCY:Q) ............................................ 31Aaron's, Inc. (AAN:N) ................................................................ 19Abbott Laboratories (ABT:N) ..................................................... 41Abiomed, Inc. (ABMD:Q) ............................................................ 41Acadia Healthcare Company, Inc. (ACHC:Q) ............................... 39Acadian Timber Corp. (ADN:T) ................................................... 48Acer Therapeutics Inc. (ACER:Q) ................................................ 39Acushnet Holdings Corp. (GOLF:N) ............................................ 19Adamis Pharmaceuticals Corporation (ADMP:Q) ........................ 41Addus HomeCare Corporation (ADUS:Q) .................................... 39ADMA Biologics, Inc. (ADMA:Q) .................................................. 41Advance Auto Parts, Inc. (AAP:N) ............................................... 18Advanced Energy Industries, Inc. (AEIS:Q) .................................. 25Advantage Oil & Gas Ltd. (AAV:T) ............................................... 27Adventus Mining Corp. (ADZN:V) ............................................... 48Adverum Biotechnologies, Inc. (ADVM:Q) ................................... 39Aecon Group Inc. (ARE:T) .......................................................... 46Aerie Pharmaceuticals, Inc. (AERI:Q) .......................................... 41AeroVironment, Inc. (AVAV:Q) .................................................... 56Aflac Incorporated (AFL:N) ........................................................ 35Ag Growth International, Inc. (AFN:T) ........................................ 48Agnico Eagle Mines Ltd. (AEM:N) ............................................... 48Agree Realty Corporation (ADC:N) ............................................. 52Air Canada (AC:T) ..................................................................... 65Air France-KLM (AIRF:EPA) ........................................................ 63Akamai Technologies, Inc. (AKAM:Q) ......................................... 58Akorn, Inc. (AKRX:Q) ................................................................. 41Alarm.com Holdings, Inc. (ALRM:Q) ........................................... 57Alaska Air Group, Inc. (ALK:N) ................................................... 63Alerus Financial Corporation (ALRS:Q) ....................................... 31Alexion Pharmaceuticals, Inc. (ALXN:Q) ..................................... 39Algonquin Power & Utilities (AQN:N) .......................................... 28Alibaba Group Holding Ltd. (BABA:N) ........................................ 58Alimentation Couche-Tard Inc. (ATD.B:T) ................................... 18Allegiance Bancshares, Inc. (ABTX:Q) ......................................... 31Allegiant Travel Company (ALGT:Q) ........................................... 63Allied Properties REIT (AP.UN:T) ................................................ 54Allison Transmission Holdings, Inc. (ALSN:N) ............................. 45Allogene Therapeutics, Inc. (ALLO:Q) ......................................... 39Alphabet Inc. (GOOG:Q) ............................................................ 59Alpine Income Property Trust, Inc. (PINE:N) ............................... 52AltaGas Ltd. (ALA:T) .................................................................. 28Alteryx, Inc. (AYX:N) .................................................................. 58Altice USA, Inc. (ATUS:N) ........................................................... 60Altius Minerals Corporation (ALS:T) ........................................... 48Amalgamated Bank (AMAL:Q) ................................................... 31Amazon.com, Inc. (AMZN:Q) ...................................................... 58Amedisys, Inc. (AMED:Q) ........................................................... 39Amerant Bancorp Inc. (AMTB:Q) ................................................ 31Ameresco, Inc. (AMRC:N) ........................................................... 25American Airlines Group Inc. (AAL:Q) ......................................... 63American Eagle Outfitters, Inc. (AEO:N) ..................................... 20American Equity Investment Life Holding Company (AEL:N) ........ 35American Financial Group, Inc. (AFG:N) ..................................... 35American Homes 4 Rent (AMH:N) .............................................. 53American National Bankshares Inc. (AMNB:Q) ............................ 31

American Tower Corporation (AMT:N) ....................................... 60Americold Realty Trust (COLD:N) ............................................... 51Ameris Bancorp (ABCB:Q) ......................................................... 31AmerisourceBergen Corporation (ABC:N) ................................... 40Amgen Inc. (AMGN:Q) ............................................................... 39Amneal Pharmaceuticals Inc. (AMRX:N) ..................................... 41Amphastar Pharmaceuticals, Inc. (AMPH:Q) ............................... 41Analog Devices, Inc. (ADI:Q) ...................................................... 59AngioDynamics, Inc. (ANGO:Q) .................................................. 41ANI Pharmaceuticals, Inc. (ANIP:Q) ............................................ 42Antares Pharma, Inc. (ATRS:Q) .................................................. 42Antero Midstream Corporation (AM:N) ....................................... 24Antero Resources Corporation (AR:N) ........................................ 23Aon plc (AON:N) ....................................................................... 34Apache Corporation (APA:N) ..................................................... 23Apartment Investment and Management Company (AIV:N) ......... 53Apellis Pharmaceuticals, Inc. (APLS:Q) ....................................... 39Apollo Commercial Real Estate Finance, Inc. (ARI:N) ................... 52Apollo Investment Corporation (AINV:Q) .................................... 35Apple Inc. (AAPL:Q) .................................................................. 57Applied Optoelectronics, Inc. (AAOI:Q) ....................................... 57Aptiv PLC (APTV:N) ................................................................... 56Arbor Realty Trust, Inc. (ABR:N) ................................................. 52ARC Resources Ltd. (ARX:T) ....................................................... 27Ares Capital Corporation (ARCC:Q) ............................................ 35Ares Commercial Real Estate Corporation (ACRE:N) .................... 52Argo Group International Holdings, Ltd. (ARGO:N) ...................... 35Arista Networks, Inc. (ANET:N) .................................................. 57Arlo Technologies, Inc. (ARLO:N) ............................................... 57Armada Hoffler Properties, Inc. (AHH:N) .................................... 52Arrow Electronics, Inc. (ARW:N) ................................................. 59Arthur J. Gallagher & Co. (AJG:N) .............................................. 35Artis Real Estate Investment Trust (AX.UN:T) .............................. 54AssetMark Financial Holdings, Inc. (AMK:N) ................................ 34Associated Banc-Corp (ASB:N) .................................................. 31AT&T Inc. (T:N) ......................................................................... 60Athabasca Oil Corp. (ATH:T) ...................................................... 27Atlantica Yield plc (AY:Q) ........................................................... 28Atlantic Capital Bancshares, Inc. (ACBI:Q) .................................. 31Atlantic Union Bankshares Corporation (AUB:Q) ........................ 31Atlassian (TEAM:Q) ................................................................... 58ATN International, Inc. (ATNI:Q) ................................................ 60Automotive Properties REIT (APR.UN:T) ..................................... 54AutoZone, Inc. (AZO:N) ............................................................. 18Avalara, Inc. (AVLR:N) ............................................................... 56Avanos Medical, Inc. (AVNS:N) ................................................... 40Avantor, Inc. (AVTR:N) .............................................................. 40Avnet, Inc. (AVT:Q) .................................................................... 59Axon Enterprise, Inc. (AAXN:Q) .................................................. 56Axos Financial, Inc. (AX:N) ......................................................... 31Azul S.A. (AZUL:N) .................................................................... 63Banc of California, Inc. (BANC:N) ............................................... 31BancorpSouth Bank (BXS:N) ..................................................... 31Bank of Commerce Holdings (BOCH:Q) ...................................... 31Bank of Marin Bancorp (BMRC:Q) .............................................. 31Bank OZK (OZK:Q) .................................................................... 31

Company Index


Banner Corporation (BANR:Q) ................................................... 31Barings BDC, Inc. (BBDC:N) ....................................................... 35Barrick Gold Corporation (GOLD:N) ........................................... 48Baxter International Inc. (BAX:N) ............................................... 40Baylin Technologies Inc. (BYL:T) ................................................ 61Baytex Energy Corp. (BTE:T) ..................................................... 27Beacon Roofing Supply, Inc. (BECN:Q) ....................................... 45Becton, Dickinson and Company (BDX:N) .................................. 41Bed Bath & Beyond Inc. (BBBY:Q) .............................................. 19Benefitfocus, Inc. (BNFT:Q) ....................................................... 56Benefytt Technologies, Inc. (BFYT:Q) ......................................... 35Best Buy Co., Inc. (BBY:N) ......................................................... 18BGC Partners, Inc. (BGCP:Q) ...................................................... 34Biogen Inc. (BIIB:Q) .................................................................. 39BioSyent, Inc. (RX:V) ................................................................. 43BioTelemetry, Inc. (BEAT:Q) ...................................................... 41Birchcliff Energy Ltd. (BIR:T) ..................................................... 27Bird Construction Inc. (BDT:T) ................................................... 46Blackbaud, Inc. (BLKB:Q) .......................................................... 56BlackBerry Limited (BB:N) ........................................................ 61Black Diamond Group Limited (BDI:T) ....................................... 46BlackLine, Inc. (BL:Q) ............................................................... 56Blackline Safety Corp. (BLN:V) ................................................... 46BlackRock TCP Capital Corp. (TCPC:Q) ...................................... 35Black Stone Minerals, L.P. (BSM:N) ............................................ 23Blackstone Mortgage Trust, Inc. (BXMT:N) ................................. 52Bloom Energy Corporation (BE:N) ............................................. 25Bloomin' Brands, Inc. (BLMN:Q) ................................................ 19bluebird bio, Inc. (BLUE:Q) ........................................................ 39Blueprint Medicines Corporation (BPMC:Q) ................................ 39Boardwalk Real Estate Investment Trust (BEI.UN:T) ................... 54BOK Financial Corporation (BOKF:Q) ......................................... 31Bombardier Inc. (BBD.B:T) ........................................................ 46Bonavista Energy Corporation (BNP:T) ...................................... 27Bonterra Energy Corp. (BNE:T) .................................................. 27Booz Allen Hamilton Holding Corp. (BAH:N) ............................... 59Boralex, Inc. (BLX:T) ................................................................. 28Boston Scientific Corporation (BSX:N) ....................................... 41Bottomline Technologies (EPAY:Q) ............................................ 57Box, Inc. (BOX:N) ...................................................................... 56Boyd Group Services Inc. (BYD:T) .............................................. 46BP p.l.c. (BP:N) ......................................................................... 24Brainsway Ltd. (BWAY:Q) .......................................................... 41Brandywine Realty Trust (BDN:N) .............................................. 53BridgeBio Pharma, Inc. (BBIO:Q) ............................................... 39Briggs & Stratton Corporation (BGG:N) ...................................... 18Brigham Minerals, Inc. (MNRL:N) ............................................... 23Brinker International, Inc. (EAT:N) ............................................. 19Broadcom Inc. (AVGO:Q) ........................................................... 59Broadmark Realty Capital Inc. (BRMK:N) .................................... 52Broadridge Financial Solutions, Inc. (BR:N) ................................ 34Brookfield Infrastructure Partners L.P. (BIP:N) ........................... 28Brookfield Renewable Partners L.P. (BEP:N) .............................. 28Brookline Bancorp, Inc. (BRKL:Q) .............................................. 31Brown & Brown, Inc. (BRO:N) .................................................... 35BRP Group, Inc. (BRP:Q) ........................................................... 35

Brunswick Corporation (BC:N) .................................................. 19BSR Real Estate Investment Trust (HOM.U:T) ............................. 54Business First Bancshares, Inc. (BFST:Q) .................................... 31C.H. Robinson Worldwide, Inc. (CHRW:Q) ................................... 63Cable One, Inc. (CABO:N) .......................................................... 60Cabot Oil & Gas Corporation (COG:N) ........................................ 23CACI International Inc (CACI:N) ................................................. 59Cactus, Inc. (WHD:N) ................................................................ 25Cadence Bancorporation (CADE:N) ............................................ 31CAE Inc. (CAE:T) ....................................................................... 46Calfrac Well Services (CFW:T) .................................................... 28California Resources Corporation (CRC:N) ................................. 23Callaway Golf Company (ELY:N) ................................................ 19Calumet Specialty Products Partners, L.P. (CLMT:Q) ................... 23Cambium Networks Corporation (CMBM:Q) ............................... 57Camden National Corporation (CAC:Q) ...................................... 31Cameco Corporation (CCO:T) .................................................... 49Canadian Apartment Properties REIT (CAR.UN:T) ....................... 54Canadian National Railway (CNR:T) ........................................... 65Canadian Natural Resources Limited (CNQ:T) ............................ 28Canadian Pacific Railway Limited (CP:T) .................................... 65Canfor Corp. (CFP:T) ................................................................. 48Canfor Pulp Products Inc. (CFX:T) .............................................. 48Cantel Medical Corp. (CMD:N) ................................................... 41CanWel Building Materials Group Ltd. (CWX:T) ........................... 65Capital Power Corporation (CPX:T) ............................................ 28Capital Southwest Corporation (CSWC:Q) .................................. 35CapStar Financial Holdings, Inc. (CSTR:Q) .................................. 31Cardinal Energy Ltd. (CJ:T) ....................................................... 27Cardinal Health, Inc. (CAH:N) .................................................... 40Cardiol Therapeutics Inc. (CRDL:T) ............................................ 43Cardiovascular Systems, Inc. (CSII:Q) ........................................ 41Cardlytics, Inc. (CDLX:Q) ........................................................... 58CareDx, Inc. (CDNA:Q) ............................................................... 40CareTrust REIT, Inc. (CTRE:Q) .................................................... 51Cargojet Inc. (CJT:T) ................................................................. 46CarGurus, Inc. (CARG:Q) ............................................................ 58Carrols Restaurant Group, Inc. (TAST:Q) .................................... 19Carter Bank & Trust (CARE:Q) .................................................... 31Casa Systems, Inc. (CASA:Q) ...................................................... 57Casella Waste Systems, Inc. (CWST:Q) ....................................... 45Casey's General Stores, Inc. (CASY:Q) ........................................ 18Catalyst Biosciences, Inc. (CBIO:Q) ............................................ 43CatchMark Timber Trust, Inc. (CTT:N) ........................................ 53CBL & Associates Properties, Inc. (CBL:N) .................................. 52Cboe Global Markets, Inc. (CBOE:B) ........................................... 34CBRE Group, Inc. (CBRE:N) ........................................................ 34CCL Industries Inc. (CCL.B:T) ..................................................... 21CDW Corporation (CDW:Q) ........................................................ 59Cedar Realty Trust, Inc. (CDR:N) ................................................ 53Cenovus Energy Inc. (CVE:T) ...................................................... 28Centerra Gold Inc. (CG:T) .......................................................... 48CenterState Bank Corporation (CSFL:Q) .................................... 31Central Pacific Financial Corp. (CPF:N) ...................................... 31Central Valley Community Bancorp (CVCY:Q) ............................. 31CenturyLink, Inc. (CTL:N) .......................................................... 60

Company Index


Cerence Inc. (CRNC:Q) .............................................................. 56Cervus Equipment Corp. (CERV:T) ............................................. 46CES Energy Solutions Corp. (CEU:T) .......................................... 27CGI Group (GIB.A:T) .................................................................. 61Champion Iron Limited (CIA:T) .................................................. 48Change Healthcare Inc. (CHNG:Q) ............................................. 40Charter Communications, Inc. (CHTR:Q) .................................... 60Chart Industries, Inc. (GTLS:Q) .................................................. 25Cheesecake Factory Inc. (CAKE:Q) ............................................. 19Chegg, Inc. (CHGG:N) ................................................................ 58ChemoCentryx, Inc. (CCXI:Q) ..................................................... 39Chemtrade Logistics Income Fund (CHE.UN:T) ........................... 46Cheniere Energy, Inc. (LNG:N) ................................................... 24Cheniere Energy Partners, L.P. (CQP:N) ..................................... 24Chesapeake Energy Corporation (CHK:N) .................................. 23Chevron Corporation (CVX:N) .................................................... 24Chewy, Inc. (CHWY:N) ............................................................... 58Chimera Investment Corporation (CIM:N) .................................. 52Chipotle Mexican Grill, Inc. (CMG:N) .......................................... 20Choice Properties REIT (CHP.UN:T) ........................................... 54Chubb Limited (CB:N) ............................................................... 35Church & Dwight Co., Inc. (CHD:N) ............................................. 19Chuy's Holdings, Inc. (CHUY:Q) ................................................. 20Ciena Corporation (CIEN:N) ....................................................... 57Cigna Corporation (CI:N) ........................................................... 41Cimarex Energy Co. (XEC:N) ...................................................... 23Cisco Systems, Inc. (CSCO:Q) .................................................... 57Citrix Systems, Inc. (CTXS:Q) ..................................................... 58City Office REIT, Inc. (CIO:N) ...................................................... 53Clean Energy Fuels Corp. (CLNE:Q) ............................................ 25Clean Harbors, Inc. (CLH:N) ...................................................... 45Clipper Realty Inc. (CLPR:N) ...................................................... 53Cloudera, Inc. (CLDR:N) ............................................................ 58CME Group Inc. (CME:Q) ............................................................ 34CNX Resources Corporation (CNX:N) .......................................... 23Coeur Mining, Inc. (CDE:N) ........................................................ 49Cogent Communications Holdings, Inc. (CCOI:Q) ........................ 60Cognex Corporation (CGNX:Q) ................................................... 56Colliers International Group Inc. (CIGI:Q) ................................... 54Colony Credit Real Estate, Inc. (CLNC:N) .................................... 52Columbia Banking System, Inc. (COLB:Q) .................................. 31Comcast Corporation (CMCSA:Q) ............................................... 60Comerica Inc. (CMA:N) .............................................................. 31Commerce Bancshares, Inc. (CBSH:Q) ....................................... 31CommScope Holding Company, Inc. (COMM:Q) .......................... 57Community Bank System, Inc. (CBU:N) ...................................... 31Community Health Systems, Inc. (CYH:N) .................................. 40Community Trust Bancorp, Inc. (CTBI:Q) ................................... 31Compass Diversified Holdings (CODI:N) ..................................... 36Concho Resources Inc. (CXO:N) ................................................. 23Conifer Holdings, Inc. (CNFR:Q) ................................................. 35Conifex Timber Inc. (CFF:T) ....................................................... 48Connection (CNXN:Q) ............................................................... 59ConnectOne Bancorp, Inc. (CNOB:Q) ......................................... 31ConocoPhillips (COP:N) ............................................................ 23Constellation Software Inc. (CSU:T) ........................................... 61

Construction Partners, Inc. (ROAD:Q) ........................................ 45Continental Resources Inc. (CLR:N) ........................................... 23Converge Technology Solutions Corp. (CTS:V) ............................ 61Copa Holdings, S.A. (CPA:N) ...................................................... 63Core-Mark Holding Company, Inc. (CORE:Q) .............................. 18CoreSite Realty Corporation (COR:N) ......................................... 60Corporate Office Properties Trust (OFC:N) ................................. 53Costco Wholesale Corporation (COST:Q) .................................... 18Coupa Software Incorporated (COUP:Q) .................................... 56Covanta Holding Corporation (CVA:N) ....................................... 45Covetrus, Inc. (CVET:Q) ............................................................. 39Crawford & Company (CRD.B:N) ................................................ 35Crescent Capital BDC, Inc. (CCAP:Q) .......................................... 35Crescent Point Energy Corp. (CPG:T) ......................................... 27Crestwood Equity Partners LP (CEQP:N) .................................... 24Crew Energy Inc. (CR:T) ............................................................ 27CRISPR Therapeutics AG (CRSP:Q) ............................................. 39Criteo S.A. (CRTO:Q) ................................................................. 58Crombie Real Estate Investment Trust (CRR.UN:T) ..................... 54Cronos Group Inc. (CRON:Q) ..................................................... 43CrossAmerica Partners L.P. (CAPL:N) ......................................... 24CrossFirst Bankshares, Inc. (CFB:Q) ........................................... 31Crown Castle International Corp. (CCI:N) ................................... 60CSI Compressco LP (CCLP:Q) .................................................... 25CSX Corporation (CSX:Q) .......................................................... 63CT Real Estate Investment Trust (CRT.UN:T) .............................. 54CubeSmart (CUBE:N) ................................................................ 53Cubic Corporation (CUB:N) ....................................................... 56Cullen/Frost Bankers, Inc. (CFR:N) ............................................. 31Culp, Inc. (CULP:N) ................................................................... 18Cummins Inc. (CMI:N) ............................................................... 45CVB Financial Corp. (CVBF:Q) .................................................... 31CVS Health Corporation (CVS:N) ................................................ 41CymaBay Therapeutics, Inc. (CBAY:Q) ........................................ 39CyrusOne Inc. (CONE:Q) ............................................................ 60D.R. Horton, Inc. (DHI:N) ........................................................... 51Darden Restaurants, Inc. (DRI:N) ............................................... 20Datadog, Inc. (DDOG:Q) ............................................................ 58Dave & Buster's Entertainment, Inc. (PLAY:Q) ............................. 20DaVita Inc. (DVA:N) ................................................................... 39DCP Midstream, LP (DCP:N) ...................................................... 24Delek Logistics Partners, LP (DKL:N) .......................................... 24Delek US Holdings, Inc. (DK:N) .................................................. 23Dell Technologies Inc. (DELL:N) ................................................. 57Delta Air Lines, Inc. (DAL:N) ....................................................... 63Denali Therapeutics Inc. (DNLI:Q) .............................................. 39Denison Mines Corp. (DML:T) .................................................... 49Devon Energy Corporation (DVN:N) ........................................... 23DexCom, Inc. (DXCM:Q) ............................................................. 41Diamondback Energy, Inc. (FANG:Q) .......................................... 23DiamondRock Hospitality Company (DRH:N) ............................. 51Dick's Sporting Goods, Inc. (DKS:N) ........................................... 20Digital Realty Trust, Inc. (DLR:N) ............................................... 60Dime Community Bancshares, Inc. (DCOM:Q) ............................. 31Dine Brands Global, Inc. (DIN:N) ................................................ 20DIRTT Environmental Solutions Ltd. (DRTT:Q) ............................ 45

Company Index


DISH Network Corporation (DISH:Q) .......................................... 60Diversified Healthcare Trust (DHC:Q) ......................................... 51Dollar General Corporation (DG:N) ............................................ 19Dollar Tree, Inc. (DLTR:Q) ......................................................... 19Domtar Corporation (UFS:N) ..................................................... 48Douglas Emmett, Inc. (DEI:N) .................................................... 53Dynatrace, Inc. (DT:N) ............................................................... 58E*TRADE Financial Corporation (ETFC:Q) ................................... 34Eagle Materials Inc. (EXP:N) ...................................................... 45Easterly Government Properties, Inc. (DEA:N) ............................ 53EastGroup Properties, Inc. (EGP:N) ............................................ 52easyJet plc (EZJ:L) ................................................................... 63eBay Inc. (EBAY:Q) .................................................................... 58EchoStar Corporation (SATS:Q) ................................................. 60Ecopetrol S.A. (EC:N) ................................................................ 24Editas Medicine, Inc. (EDIT:Q) ................................................... 39Edwards Lifesciences Corporation (EW:N) .................................. 41eHealth, Inc. (EHTH:Q) .............................................................. 35Elanco Animal Health Incorporated (ELAN:N) ............................. 39Emera Incorporated (EMA:T) ..................................................... 28Encompass Health Corporation (EHC:N) .................................... 39Encore Capital Group Inc. (ECPG:Q) ........................................... 36Endo International plc (ENDP:Q) ............................................... 42Enerflex Ltd. (EFX:T) ................................................................. 27Energy Recovery, Inc. (ERII:Q) ................................................... 26Energy Transfer LP (ET:N) ......................................................... 24Enerplus Corporation (ERF:T) .................................................... 27EnLink Midstream, LLC (ENLC:N) ............................................... 24Enphase Energy, Inc. (ENPH:Q) ................................................. 25Ensign Energy Services Inc. (ESI:T) ............................................ 28Enterprise Financial Services Corp. (EFSC:Q) .............................. 32Enterprise Products Partners L.P. (EPD:N) ................................. 24Envestnet, Inc. (ENV:N) ............................................................. 34Enviva Partners, LP (EVA:N) ...................................................... 25EnWave Corporation (ENW:V) .................................................... 48EOG Resources, Inc. (EOG:N) ..................................................... 23EPR Properties (EPR:N) ............................................................. 52Equinix, Inc. (EQIX:Q) ................................................................ 60Equity Residential (EQR:N) ........................................................ 53Ero Copper Corp. (ERO:T) ......................................................... 48Essential Energy Services Ltd. (ESN:T) ....................................... 27Essential Properties Realty Trust, Inc. (EPRT:N) .......................... 52Essex Property Trust, Inc. (ESS:N) ............................................. 53Ethan Allen Interiors Inc. (ETH:N) .............................................. 18Everbridge, Inc. (EVBG:Q) .......................................................... 56Everi Holdings Inc. (EVRI:N) ....................................................... 57EverQuote, Inc. (EVER:Q) .......................................................... 59EVERTEC, Inc. (EVTC:N) ............................................................. 57Evertz Technologies Limited (ET:T) ........................................... 61Evoqua Water Technologies Corp. (AQUA:N) .............................. 26Exantas Capital Corp. (XAN:N) ................................................... 52Exchange Income Corporation (EIF:T) ........................................ 46Extra Space Storage Inc. (EXR:N) ............................................... 53Exxon Mobil Corporation (XOM:N) ............................................. 24F.N.B. Corporation (FNB:N) ....................................................... 32F5 Networks, Inc. (FFIV:Q) ......................................................... 57

Facebook, Inc. (FB:Q) ............................................................... 59FactSet Research Systems Inc. (FDS:N) ...................................... 34Farmers National Banc Corp. (FMNB:Q) ..................................... 32Farmland Partners Inc. (FPI:N) .................................................. 51Fastenal Company (FAST:Q) ...................................................... 45Fastly, Inc. (FSLY:N) .................................................................. 58FB Financial Corporation (FBK:N) .............................................. 32FBL Financial Group, Inc. (FFG:N) .............................................. 35Federal Realty Investment Trust (FRT:N) .................................... 53FedEx Corporation (FDX:N) ....................................................... 63FedNat Holding Company (FNHC:Q) .......................................... 35Fidelity National Information Services, Inc. (FIS:N) ..................... 57Fidus Investment Corporation (FDUS:Q) .................................... 35Fiesta Restaurant Group, Inc. (FRGI:Q) ....................................... 20Finning International (FTT:T) .................................................... 46First Bancorp (FBNC:Q) ............................................................. 32First Busey Corporation (BUSE:Q) .............................................. 32First Business Financial Services, Inc. (FBIZ:Q) ........................... 32First Capital Real Estate Investment Trust (FCR.UN:T) ................. 54First Commonwealth Financial Corp. (FCF:N) ............................. 32First Community Corporation (FCCO:Q) ..................................... 32First Defiance Financial Corp. (FDEF:Q) ...................................... 32First Financial Bancorp. (FFBC:Q) .............................................. 32First Financial Corporation (THFF:Q) ......................................... 32First Foundation Inc. (FFWM:Q) ................................................. 32First Horizon National Corporation (FHN:N) ............................... 32First Industrial Realty Trust, Inc. (FR:N) ...................................... 52First Merchants Corporation (FRME:Q) ....................................... 32First Mid Bancshares, Inc. (FMBH:Q) .......................................... 32First Midwest Bancorp, Inc. (FMBI:Q) ......................................... 32First Quantum Minerals Ltd. (FM:T) ........................................... 48First Republic Bank (FRC:N) ...................................................... 32FirstService Corporation (FSV:Q) ............................................... 54First Solar, Inc. (FSLR:Q) ........................................................... 25Fiserv, Inc. (FISV:Q) ................................................................... 57Flagstar Bancorp, Inc. (FBC:N) ................................................... 32FleetCor Technologies, Inc. (FLT:N) ........................................... 57Flexion Therapeutics, Inc. (FLXN:Q) ........................................... 42Flex Ltd. (FLEX:Q) ..................................................................... 59FLIR Systems, Inc. (FLIR:Q) ........................................................ 56Floor & Decor Holdings, Inc. (FND:N) ......................................... 19Focus Financial Partners Inc. (FOCS:Q) ...................................... 34Foot Locker, Inc. (FL:N) ............................................................. 20Fortis, Inc. (FTS:T) .................................................................... 28Fortive Corporation (FTV:N) ...................................................... 56Fortress Transportation & Infrastructure Inv. LLC (FTAI:N) ........... 36Forward Air Corporation (FWRD:Q) ............................................ 63Foundation Building Materials, Inc. (FBM:N) .............................. 45Four Corners Property Trust, Inc. (FCPT:N) ................................ 52Franco-Nevada Corporation (FNV:N) ......................................... 49Freehold Royalties Ltd. (FRU:T) ................................................. 27Freeport-McMoRan Inc. (FCX:N) ................................................. 48FS Bancorp, Inc. (FSBW:Q) ........................................................ 32FS KKR Capital Corp. (FSK:N) .................................................... 35Fulton Financial Corporation (FULT:Q) ...................................... 32FVCBankcorp, Inc. (FVCB:Q) ...................................................... 32

Company Index


G1 Therapeutics, Inc. (GTHX:Q) ................................................. 39Galapagos NV (GLPG:Q) ............................................................ 39Galmed Pharmaceuticals Ltd. (GLMD:Q) .................................... 39GDS Holdings Limited (GDS:Q) .................................................. 60Genesis Energy, L.P. (GEL:N) ..................................................... 24GenMark Diagnostics, Inc. (GNMK:Q) ......................................... 40Genuine Parts Company (GPC:N) ............................................... 18German American Bancorp, Inc. (GABC:Q) ................................. 32GFL Environmental Inc. (GFL:N) ................................................. 45Gibson Energy Inc. (GEI:T) ......................................................... 28Gilead Sciences, Inc. (GILD:Q) ................................................... 39Glacier Bancorp, Inc. (GBCI:Q) ................................................... 32Global Partners LP (GLP:N) ....................................................... 24Global Payments Inc. (GPN:N) ................................................... 57GMS Inc. (GMS:N) ..................................................................... 45GoDaddy Inc. (GDDY:N) ............................................................. 58goeasy Ltd. (GSY:T) ................................................................... 37Gogo Inc. (GOGO:Q) .................................................................. 60Goldman Sachs BDC, Inc. (GSBD:N) ........................................... 35GOL Linhas Aereas Inteligentes S.A. (GOL:N) .............................. 63Golub Capital BDC, Inc. (GBDC:Q) .............................................. 35Goodfood Market Corp. (FOOD:T) .............................................. 21Granite Point Mortgage Trust Inc. (GPMT:N) ............................... 52Great Ajax Corp. (AJX:N) ........................................................... 52Great Western Bancorp, Inc. (GWB:N) ........................................ 32Green Plains Partners LP (GPP:Q) .............................................. 25GreenSky, Inc. (GSKY:Q) ............................................................ 57Gritstone Oncology, Inc. (GRTS:Q) ............................................. 39GrubHub Inc. (GRUB:N) ............................................................. 58GTT Communications, Inc. (GTT:N) ............................................ 60Guaranty Federal Bancshares, Inc. (GFED:Q) .............................. 32H&R Real Estate Investment Trust (HR.UN:T) ............................. 54Haemonetics Corporation (HAE:N) ............................................ 41Halliburton Company (HAL:N) ................................................... 25Hallmark Financial Services, Inc. (HALL:Q) ................................. 35Hancock Whitney Corporation (HWC:Q) ..................................... 32Hanesbrands Inc. (HBI:N) .......................................................... 20Hanmi Financial Corporation (HAFC:Q) ...................................... 32Harley-Davidson, Inc. (HOG:N) .................................................. 19Harmonic Inc. (HLIT:Q) ............................................................. 57HBT Financial, Inc. (HBT:Q) ....................................................... 32HCA Healthcare, Inc. (HCA:N) .................................................... 40HD Supply Holdings, Inc. (HDS:Q) .............................................. 45Healthcare Realty Trust Incorporated (HR:N) ............................. 51Healthcare Trust of America, Inc. (HTA:N) .................................. 51Health Catalyst, Inc. (HCAT:Q) ................................................... 40HealthEquity, Inc. (HQY:Q) ........................................................ 35Healthpeak Properties, Inc. (PEAK:N) ........................................ 51HealthStream, Inc. (HSTM:Q) .................................................... 40Heartland Financial USA, Inc. (HTLF:Q) ...................................... 32Helix Energy Solutions Group, Inc. (HLX:N) ................................. 25Heritage Commerce Corp (HTBK:Q) ........................................... 32Heritage Financial Corporation (HFWA:Q) .................................. 32Héroux-Devtek Inc. (HRX:T) ....................................................... 46Hersha Hospitality Trust (HT:N) ................................................. 51Heska Corporation (HSKA:Q) ..................................................... 39

Hess Corporation (HES:N) ......................................................... 23Hewlett Packard Enterprise Company (HPE:N) ........................... 57Hill-Rom Holdings, Inc. (HRC:N) ................................................ 41Hilltop Holdings Inc. (HTH:N) .................................................... 32Hilton Worldwide Holdings Inc. (HLT:N) ..................................... 51Holly Energy Partners, L.P. (HEP:N) ........................................... 24HollyFrontier Corporation (HFC:N) ............................................ 23Hologic, Inc. (HOLX:Q) .............................................................. 41Home Bancorp, Inc. (HBCP:Q) ................................................... 32Home BancShares, Inc. (HOMB:Q) ............................................. 32Hope Bancorp, Inc. (HOPE:Q) .................................................... 32Horizon Bancorp, Inc. (HBNC:Q) ................................................ 32Horizon North Logistics Inc. (HNL:T) .......................................... 46Host Hotels & Resorts, Inc. (HST:N) ........................................... 51Howard Bancorp, Inc. (HBMD:Q) ............................................... 32Hub Group, Inc. (HUBG:Q) ......................................................... 63HubSpot, Inc. (HUBS:N) ............................................................ 56Hudbay Minerals, Inc. (HBM:T) .................................................. 48Huntington Bancshares Incorporated (HBAN:Q) ......................... 32Husky Energy Inc. (HSE:T) ......................................................... 28Hyatt Hotels Corporation (H:N) ................................................. 51Hydro One Ltd. (H:T) ................................................................ 28i3 Verticals, Inc. (IIIV:Q) ............................................................. 57IAMGOLD Corporation (IAG:N) ................................................... 49IBERIABANK Corporation (IBKC:Q) ............................................. 32IBI Group Inc. (IBG:T) ................................................................ 46ICU Medical, Inc. (ICUI:Q) .......................................................... 41IDEXX Laboratories, Inc. (IDXX:Q) ............................................... 39II-VI Incorporated (IIVI:Q) .......................................................... 57Imperial Oil Limited (IMO:T) ...................................................... 28IMV Inc. (IMV:Q) ........................................................................ 43Independent Bank Group, Inc. (IBTX:Q) ..................................... 32Infinera Corporation (INFN:Q) ................................................... 57InflaRx N.V. (IFRX:Q) ................................................................. 39Innergex Renewable Energy Inc. (INE:T) ..................................... 28Insight Enterprises, Inc. (NSIT:Q) ............................................... 59Insulet Corporation (PODD:Q) ................................................... 41Intact Financial Corporation (IFC:T) ........................................... 37Integra LifeSciences Holdings Corporation (IART:Q) ................... 41Intel Corporation (INTC:Q) ........................................................ 59Intellia Therapeutics, Inc. (NTLA:Q) ........................................... 39Intelsat S.A. (INTEQ:O) .............................................................. 60Intercept Pharmaceuticals, Inc. (ICPT:Q) ................................... 39Intercontinental Exchange, Inc. (ICE:N) ...................................... 34Interface, Inc. (TILE:Q) .............................................................. 18Interfor Corporation (IFP:T) ...................................................... 48International Consolidated Airlines Group, S.A. (IAG:MAD) .......... 63Inter Parfums, Inc. (IPAR:Q) ...................................................... 19Inter Pipeline Ltd. (IPL:T) .......................................................... 28InterRent Real Estate Investment Trust (IIP.UN:T) ...................... 54Intuitive Surgical, Inc. (ISRG:Q) ................................................. 41Investar Holding Corporation (ISTR:Q) ....................................... 32Investcorp Credit Management BDC, Inc. (ICMB:Q) ..................... 35Investors Real Estate Trust (IRET:N) .......................................... 53Invitation Homes Inc. (INVH:N) .................................................. 53IPG Photonics Corporation (IPGP:Q) .......................................... 56

Company Index


Iridium Communications Inc. (IRDM:Q) ...................................... 60iRobot Corporation (IRBT:Q) ..................................................... 56iStar Inc. (STAR:N) .................................................................... 52Itafos (IFOS:V) .......................................................................... 48Itron, Inc. (ITRI:Q) ..................................................................... 25Ivanhoe Mines Ltd. (IVN:T) ........................................................ 48J.B. Hunt Transport Services, Inc. (JBHT:Q) ............................... 63Jabil Inc. (JBL:N) ...................................................................... 59Jack Henry & Associates, Inc. (JKHY:Q) ...................................... 57Jernigan Capital, Inc. (JCAP:N) .................................................. 53JetBlue Airways Corporation (JBLU:Q) ...................................... 63Johnson & Johnson (JNJ:N) ...................................................... 41Jones Lang LaSalle Incorporated (JLL:N) ................................... 34Jounce Therapeutics, Inc. (JNCE:Q) ........................................... 40Jumia Technologies AG (JMIA:N) ............................................... 58Juniper Networks, Inc. (JNPR:N) ............................................... 57Kadmon Holdings, Inc. (KDMN:N) .............................................. 40Kansas City Southern (KSU:N) ................................................... 63KB Home (KBH:N) ..................................................................... 51K-Bro Linen Inc. (KBL:T) ............................................................ 21Kelt Exploration Ltd. (KEL:T) ..................................................... 27Kemper Corporation (KMPR:N) .................................................. 35Keyera Corp. (KEY:T) ................................................................. 28Killam Apartment REIT (KMP.UN:T) ........................................... 54Kimbell Royalty Partners L.P. (KRP:N) ....................................... 23Kimco Realty Corporation (KIM:N) ............................................. 53Kinder Morgan, Inc. (KMI:N) ...................................................... 24Kinross Gold Corporation (KGC:N) ............................................. 49Kite Realty Group Trust (KRG:N) ................................................ 53KKR Real Estate Finance Trust Inc. (KREF:N) .............................. 52Knight Therapeutics Inc. (GUD:T) .............................................. 43Kosmos Energy Ltd. (KOS:N) ..................................................... 23KVH Industries, Inc. (KVHI:Q) ..................................................... 60L3Harris Technologies, Inc. (LHX:N) ........................................... 56Labrador Iron Ore Royalty Corp. (LIF:T) ..................................... 48Ladder Capital Corp (LADR:N) ................................................... 52Lakeland Bancorp, Inc. (LBAI:Q) ................................................ 32Lakeland Financial Corporation (LKFN:Q) .................................. 32Landmark Infrastructure Partners LP (LMRK:Q) .......................... 60Landstar System, Inc. (LSTR:Q) ................................................. 63Lannett Company, Inc. (LCI:N) .................................................. 42Laredo Petroleum, Inc. (LPI:N) .................................................. 23LATAM Airlines Group S.A. (LTM:N) ............................................ 63La-Z-Boy Incorporated (LZB:N) .................................................. 18Leap Therapeutics, Inc. (LPTX:Q) ............................................... 43Leggett & Platt, Incorporated (LEG:N) ........................................ 18Lennar Corporation (LEN:N) ...................................................... 51Leucrotta Exploration Inc. (LXE:V) ............................................. 27Level One Bancorp, Inc. (LEVL:Q) .............................................. 33Life Storage, Inc. (LSI:N) ........................................................... 53Lightspeed POS Inc. (LSPD:T) .................................................... 61Limelight Networks, Inc. (LLNW:Q) ............................................ 58Limestone Bancorp, Inc. (LMST:Q) ............................................. 33Lineage Cell Therapeutics Inc. (LCTX:N) ..................................... 40LKQ Corporation (LKQ:Q) .......................................................... 45LM Ericsson Telephone Company (ERIC:Q) ................................. 57

Lowe's Companies, Inc. (LOW:N) ............................................... 19lululemon athletica inc. (LULU:Q) .............................................. 20Lumentum Holdings Inc. (LITE:Q) .............................................. 57Lundin Mining Corporation (LUN:T) ........................................... 48M.D.C. Holdings, Inc. (MDC:N) .................................................... 51MACOM Technology Solutions Holdings, Inc. (MTSI:Q) ................ 59Madrigal Pharmaceuticals, Inc. (MDGL:Q) .................................. 40Magellan Midstream Partners, L.P. (MMP:N) ............................... 24Magenta Therapeutics, Inc. (MGTA:Q) ........................................ 40Magna International Inc. (MGA:N) .............................................. 21Main Street Capital Corporation (MAIN:N) .................................. 36Malibu Boats, Inc. (MBUU:Q) ..................................................... 19Mallinckrodt public limited company (MNK:N) ........................... 42Manhattan Associates, Inc. (MANH:Q) ........................................ 56Marathon Oil Corporation (MRO:N) ............................................ 23Marathon Petroleum Corporation (MPC:N) ................................ 23MarineMax, Inc. (HZO:N) ........................................................... 19MarketAxess Holdings Inc. (MKTX:Q) .......................................... 34Marriott International, Inc. (MAR:Q) ........................................... 51Marsh & McLennan Companies, Inc. (MMC:N) ............................. 35Martinrea International Inc. (MRE:T) .......................................... 21Marvell Technology Group Ltd. (MRVL:Q) ................................... 59Masco Corporation (MAS:N) ...................................................... 18Masimo Corporation (MASI:Q) ................................................... 41Mastercard, Inc. (MA:N) ............................................................. 57MasterCraft Boat Holdings, Inc. (MCFT:Q) .................................. 19Matador Resources Company (MTDR:N) .................................... 23MAV Beauty Brands Inc. (MAV:T) ................................................ 19Maverix Metals Inc. (MMX:T) ...................................................... 49Maxar Technologies Ltd. (MAXR:N) ............................................ 61Maxim Integrated Products, Inc. (MXIM:Q) ................................. 59MAXIMUS, Inc. (MMS:N) ............................................................. 59McDonald's Corporation (MCD:N) .............................................. 20McKesson Corporation (MCK:N) ................................................. 40mCloud Technologies Corp. (MCLD:V) ........................................ 61Medtronic Public Limited Company (MDT:N) .............................. 41MEG Energy Corp. (MEG:T) ........................................................ 28Mercantile Bank Corporation (MBWM:Q) .................................... 33Mercer International Inc. (MERC:Q) ............................................ 48Merchants Bancorp (MBIN:Q) .................................................... 33Mercury General Corporation (MCY:N) ....................................... 35Meridian Bancorp, Inc. (EBSB:Q) ............................................... 33Merit Medical Systems, Inc. (MMSI:Q) ......................................... 41Mesa Air Group, Inc. (MESA:Q) ................................................... 63Meta Financial Group, Inc. (CASH:Q) .......................................... 33Methanex (MEOH:Q) ................................................................. 46MetroCity Bankshares, Inc. (MCBS:Q) ......................................... 33MFA Financial, Inc. (MFA:N) ....................................................... 52Microchip Technology Incorporated (MCHP:Q) ........................... 59Micron Technology, Inc. (MU:Q) ................................................. 59Microsoft Corporation (MSFT:Q) ................................................ 58Mid-America Apartment Communities, Inc. (MAA:N) ................... 53Minto Apartment REIT (MI.UN:T) ............................................... 54Mirum Pharmaceuticals, Inc. (MIRM:Q) ...................................... 40MiX Telematics Limited (MIXT:N) ............................................... 56MobileIron, Inc. (MOBL:Q) ......................................................... 58

Company Index


Model N, Inc. (MODN:N) ............................................................ 56Mohawk Industries, Inc. (MHK:N) ............................................... 18Monolithic Power Systems, Inc. (MPWR:Q) ................................. 59Monroe Capital Corp. (MRCC:Q) ................................................ 36Moody's Corporation (MCO:N) ................................................... 34Motorola Solutions, Inc. (MSI:N) ................................................ 57MPLX L.P. (MPLX:N) .................................................................. 24MRC Global Inc. (MRC:N) ........................................................... 45MSCI Inc. (MSCI:N) .................................................................... 34MSC Industrial Direct Co., Inc. (MSM:N) ...................................... 45MTY Food Group Inc. (MTY:T) .................................................... 21Mullen Group Ltd. (MTL:T) ........................................................ 28Murphy Oil Corporation (MUR:N) ............................................... 23Murphy USA Inc. (MUSA:N) ........................................................ 18Mylan N.V. (MYL:Q) ................................................................... 42Nabors Industries Ltd. (NBR:N) ................................................. 25Nasdaq, Inc. (NDAQ:Q) .............................................................. 34National Fuel Gas Company (NFG:N) ......................................... 23National Oilwell Varco, Inc. (NOV:N) .......................................... 25National Retail Properties, Inc. (NNN:N) .................................... 52Natus Medical Incorporated (NTUS:Q) ....................................... 41Navistar International Corporation (NAV:N) ............................... 45NeoGenomics, Inc. (NEO:Q) ....................................................... 40Neo Performance Materials Inc. (NEO:T) .................................... 46NeoPhotonics Corporation (NPTN:N) ......................................... 57NetApp, Inc. (NTAP:Q) .............................................................. 57NETGEAR, Inc. (NTGR:Q) ........................................................... 57Newell Brands Inc. (NWL:Q) ...................................................... 19New Gold Inc. (NGD:N) .............................................................. 49Newmark Group, Inc. (NMRK:Q) ................................................ 34Newmont Corporation (NEM:N) ................................................. 49Newpark Resources, Inc. (NR:N) ................................................ 25New Relic, Inc. (NEWR:N) .......................................................... 58New Residential Investment Corp. (NRZ:N) ................................ 52Newtek Business Services Corp. (NEWT:Q) ................................. 36New York Community Bancorp, Inc. (NYCB:N) ............................ 33New York Mortgage Trust, Inc. (NYMT:N) .................................... 52NexGen Energy Ltd. (NXE:T) ...................................................... 49NexJ Systems Inc. (NXJ:T) ......................................................... 61NexPoint Real Estate Finance, Inc. (NREF:N) .............................. 52NexPoint Residential Trust, Inc. (NXRT:N) .................................. 53NextEra Energy Partners, L.P. (NEP:N) ....................................... 25NGL Energy Partners LP (NGL:N) ............................................... 24NGM Biopharmaceuticals, Inc. (NGM:Q) ..................................... 40NIC Inc. (EGOV:Q) ..................................................................... 59NIKE, Inc. (NKE:N) .................................................................... 20Nine Energy Service, Inc. (NINE:N) ............................................. 25nLIGHT, Inc. (LASR:Q) ............................................................... 56Noble Energy, Inc. (NBL:Q) ........................................................ 23Nokia Corporation (NOK:N) ....................................................... 57Norbord Inc. (OSB:T) ................................................................ 48Norfolk Southern Corporation (NSC:N) ...................................... 63North American Construction Group (NOA:T) ............................. 46Northland Power Inc. (NPI:T) .................................................... 28Northwest Bancshares, Inc. (NWBI:Q) ........................................ 33NortonLifeLock Inc. (NLOK:Q) ................................................... 58

NOW Inc. (DNOW:N) .................................................................. 45NuStar Energy L.P. (NS:N) ......................................................... 24Nutanix, Inc. (NTNX:Q) .............................................................. 57Nutrien Ltd. (NTR:N) ................................................................. 48NuVista Energy Ltd. (NVA:T) ...................................................... 27NVIDIA Corporation (NVDA:Q) .................................................... 59NXP Semiconductors N.V. (NXPI:Q) ............................................ 59O'Reilly Automotive, Inc. (ORLY:Q) ............................................ 18Oasis Petroleum Inc. (OAS:Q) .................................................... 23Obsidian Energy Ltd. (OBE:T) .................................................... 27Occidental Petroleum Corporation (OXY:N) ................................ 23OceanaGold Corporation (OGC:T) .............................................. 49OceanFirst Financial Corp. (OCFC:Q) ......................................... 33Ocular Therapeutix, Inc. (OCUL:Q) ............................................. 40Oil States International, Inc. (OIS:N) .......................................... 25Old Dominion Freight Line, Inc. (ODFL:Q) ................................... 64Old National Bancorp (ONB:Q) .................................................. 33Old Republic International Corporation (ORI:N) ......................... 35Old Second Bancorp, Inc. (OSBC:Q) ........................................... 33Omega Healthcare Investors, Inc. (OHI:N) .................................. 51ONEOK, Inc. (OKE:N) ................................................................. 24OneWater Marine Inc. (ONEW:Q) ............................................... 19ON Semiconductor Corporation (ON:Q) ..................................... 59Open Text Corporation (OTEX:Q) ............................................... 61Optiva Inc. (OPT:T) ................................................................... 61Oracle Corporation (ORCL:N) .................................................... 58OraSure Technologies, Inc. (OSUR:Q) ........................................ 40ORBCOMM Inc. (ORBC:Q) .......................................................... 60OrganiGram Holdings Inc. (OGI:T) ............................................. 43Origin Bancorp, Inc. (OBNK:Q) .................................................. 33Osisko Gold Royalties Ltd (OR:T) ............................................... 49Ovintiv Inc. (OVV:N) .................................................................. 28Owl Rock Capital Corporation (ORCC:N) .................................... 36PACCAR Inc (PCAR:Q) ............................................................... 45Pacific Premier Bancorp, Inc. (PPBI:Q) ....................................... 33PacWest Bancorp (PACW:Q) ...................................................... 33Painted Pony Energy Ltd. (PONY:T) ........................................... 27Paramount Resources Ltd. (POU:T) ........................................... 27Park Hotels & Resorts Inc. (PK:N) .............................................. 51Parkland Fuel Corporation (PKI:T) ............................................. 46Park Lawn Corporation (PLC:T) ................................................. 54Parsley Energy, Inc. (PE:N) ........................................................ 23Patterson-UTI Energy, Inc. (PTEN:Q) .......................................... 25Paylocity Holding Corporation (PCTY:Q) .................................... 56PayPal Holdings, Inc. (PYPL:Q) .................................................. 57PBF Energy Inc. (PBF:N) ............................................................ 24PBF Logistics L.P. (PBFX:N) ....................................................... 24PCB Bancorp (PCB:Q) ............................................................... 33Pebblebrook Hotel Trust (PEB:N) .............................................. 51Pembina Pipeline Corporation (PPL:T) ...................................... 28PennantPark Investment Corporation (PNNT:Q) ........................ 36People's United Financial, Inc. (PBCT:Q) .................................... 33People's Utah Bancorp (PUB:Q) ................................................ 33Peoples Bancorp Inc. (PEBO:Q) ................................................. 33Perrigo Company PLC (PRGO:N) ................................................ 42PetIQ, Inc. (PETQ:Q) ................................................................. 19

Company Index


Petroleo Brasileiro S.A. - Petrobras (PBR:N) ............................... 24Petrus Resources Ltd. (PRQ:T) .................................................. 27Peyto Exploration & Development Corp. (PEY:T) ......................... 27PGT Innovations, Inc. (PGTI:N) .................................................. 18Phillips 66 (PSX:N) .................................................................... 24Phillips 66 Partners L.P. (PSXP:N) .............................................. 24Phreesia, Inc. (PHR:N) ............................................................... 40Physicians Realty Trust (DOC:N) ................................................ 51Ping Identity Holding Corp. (PING:N) ......................................... 58Pinnacle Financial Partners, Inc. (PNFP:Q) ................................. 33Pioneer Natural Resources Company (PXD:N) ............................ 23Pipestone Energy (PIPE:V) ........................................................ 27Plains All American Pipeline, L.P. (PAA:N) .................................. 24Plains GP Holdings, L.P. (PAGP:N) ............................................. 24Planet Fitness, Inc. (PLNT:N) ..................................................... 19Plaza Retail REIT (PLZ.UN:T) ..................................................... 54Plexus Corp. (PLXS:Q) ............................................................... 59Pluralsight, Inc. (PS:Q) .............................................................. 56PLx Pharma Inc. (PLXP:Q) ......................................................... 42Polaris Inc. (PII:N) ..................................................................... 19Polaris Infrastructure Inc. (PIF:T) ............................................... 28PotlatchDeltic Corporation (PCH:Q) .......................................... 53PRA Group, Inc. (PRAA:Q) .......................................................... 36PrairieSky Royalty Ltd. (PSK:T) ................................................. 27Precision Drilling Corporation (PD:T) ......................................... 28Preferred Bank (PFBC:Q) ........................................................... 33Premier, Inc. (PINC:Q) ............................................................... 40Prestige Consumer Healthcare, Inc. (PBH:N) .............................. 19ProAssurance Corporation (PRA:N) ............................................ 35Profound Medical Corp. (PRN:T) ................................................ 43ProPetro Holding Corp. (PUMP:N) ............................................. 25Prospect Capital Corporation (PSEC:Q) ..................................... 36Prosperity Bancshares, Inc. (PB:N) ............................................ 33Public Storage (PSA:N) ............................................................. 53PulteGroup, Inc. (PHM:N) .......................................................... 51Pure Storage, Inc. (PSTG:N) ...................................................... 57Purple Innovation, Inc. (PRPL:Q) ............................................... 18Q2 Holdings, Inc. (QTWO:N) ...................................................... 56QCR Holdings, Inc. (QCRH:Q) .................................................... 33QEP Resources, Inc. (QEP:N) ..................................................... 23Qorvo, Inc. (QRVO:Q) ................................................................ 59QTS Realty Trust, Inc. (QTS:N) ................................................... 60QUALCOMM Incorporated (QCOM:Q) ......................................... 59Questor Technology Inc. (QST:V) ............................................... 28Quidel Corporation (QDEL:Q) .................................................... 40RadNet, Inc. (RDNT:Q) .............................................................. 39Range Resources Corporation (RRC:N) ...................................... 23Rapid7, Inc. (RPD:Q) ................................................................. 58Rattler Midstream LP (RTLR:Q) .................................................. 24Rayonier Inc. (RYN:N) ............................................................... 53Ready Capital Corporation (RC:N) ............................................. 52Real Matters Inc. (REAL:T) ......................................................... 61Realty Income Corporation (O:N) .............................................. 52Red Robin Gourmet Burgers, Inc. (RRGB:Q) ................................ 20Redwood Trust, Inc. (RWT:N) .................................................... 52Regency Centers Corporation (REG:Q) ....................................... 53

Regeneron Pharmaceuticals, Inc. (REGN:Q) ............................... 40REGENXBIO Inc. (RGNX:Q) ......................................................... 40Regions Financial Corporation (RF:N) ........................................ 33Renasant Corporation (RNST:Q) ................................................ 33Rent-A-Center, Inc. (RCII:Q) ....................................................... 19Republic Services, Inc. (RSG:N) ................................................. 45Retail Opportunity Investments Corp. (ROIC:Q) .......................... 53Revolve Group, Inc. (RVLV:N) ..................................................... 58RH (RH:N) ................................................................................ 19RingCentral, Inc. (RNG:N) .......................................................... 56RioCan Real Estate Investment Trust (REI.UN:T) ......................... 54Ritchie Bros. Auctioneers (RBA:N) .............................................. 46Riverview Bancorp, Inc. (RVSB:Q) .............................................. 33RLJ Lodging Trust (RLJ:N) ........................................................ 51Rocky Mountain Dealerships Inc. (RME:T) .................................. 46Roper Technologies (ROP:N) ..................................................... 56Royal Gold Inc. (RGLD:Q) .......................................................... 49RPC, Inc. (RES:N) ...................................................................... 25RPT Realty (RPT:N) ................................................................... 53Russel Metals Inc. (RUS:T) ......................................................... 46Ruth's Hospitality Group, Inc. (RUTH:Q) ..................................... 20Ryanair Holdings Plc (RYAAY:Q) ................................................. 63Ryman Hospitality Properties, Inc. (RHP:N) ................................ 51S&P Global Inc. (SPGI:N) ........................................................... 34S&T Bancorp, Inc. (STBA:Q) ....................................................... 33Sabra Health Care REIT, Inc. (SBRA:Q) ....................................... 51Safehold Inc. (SAFE:N) .............................................................. 52Sage Therapeutics, Inc. (SAGE:Q) .............................................. 40Saia, Inc. (SAIA:Q) ..................................................................... 64salesforce.com, inc. (CRM:N) ..................................................... 56Sally Beauty Holdings, Inc. (SBH:N) ........................................... 19Sandstorm Gold Ltd. (SAND:N) .................................................. 49Saul Centers, Inc. (BFS:N) ......................................................... 53SBA Communications Corporation (SBAC:Q) .............................. 60ScanSource, Inc. (SCSC:Q) ........................................................ 59Schlumberger Limited (SLB:N) .................................................. 25Seacoast Banking Corporation of Florida (SBCF:Q) ..................... 33Secure Energy Services Inc. (SES:T) ........................................... 28SEI Investments Company (SEIC:Q) ........................................... 34Senseonics Holdings, Inc. (SENS:N) ........................................... 41Service Corporation International (SCI:N) .................................. 40ServiceNow, Inc. (NOW:N) ......................................................... 58ServisFirst Bancshares, Inc. (SFBS:Q) ......................................... 33Seven Generations Energy Ltd. (VII:T) ........................................ 27Shake Shack Inc. (SHAK:N) ....................................................... 20Shenandoah Telecommunications Company (SHEN:Q) .............. 60Shopify Inc. (SHOP:N) ............................................................... 56Sienna Senior Living Inc. (SIA:T) ................................................ 54Sierra Bancorp (BSRR:Q) ........................................................... 33Sierra Wireless, Inc. (SWIR:Q) .................................................... 61Signature Bank (SBNY:Q) .......................................................... 33Simmons First National Corporation (SFNC:Q) ........................... 33Simon Property Group, Inc. (SPG:N) .......................................... 52SITE Centers Corp. (SITC:N) ...................................................... 53SiTime Corporation (SITM:Q) .................................................... 59SkyWest, Inc. (SKYW:Q) ............................................................. 63

Company Index


Skyworks Solutions, Inc. (SWKS:Q) ............................................ 59Slate Retail REIT (SRT.U:T) ........................................................ 54Sleep Number Corporation (SNBR:Q) ........................................ 18SmartCentres Real Estate Investment Trust (SRU.UN:T) .............. 54SmartFinancial, Inc. (SMBK:Q) ................................................... 33SM Energy Company (SM:N) ...................................................... 23Snap Inc. (SNAP:N) ................................................................... 59SNC-Lavalin Group Inc. (SNC:T) ................................................. 46Solar Capital Ltd. (SLRC:Q) ....................................................... 36Solaris Oilfield Infrastructure, Inc. (SOI:N) .................................. 25Sol-Gel Technologies Ltd. (SLGL:Q) ........................................... 42Sonos, Inc. (SONO:Q) ................................................................ 57Southwest Airlines Co. (LUV:N) .................................................. 63Southwestern Energy Company (SWN:N) ................................... 23Spark Power Group (SPG:T) ...................................................... 28Spirit Airlines, Inc. (SAVE:N) ...................................................... 63Spirit Realty Capital, Inc. (SRC:N) .............................................. 52Splunk Inc. (SPLK:Q) ................................................................. 58Sprague Resources LP (SRLP:N) ................................................ 24Square, Inc. (SQ:N) ................................................................... 58SS&C Technologies Holdings, Inc. (SSNC:Q) ............................... 34STAG Industrial, Inc. (STAG:N) ................................................... 52Stanley Black & Decker, Inc. (SWK:N) ......................................... 18Stantec Inc. (STN:T) .................................................................. 46Starwood Property Trust Inc. (STWD:N) ..................................... 52Stellus Capital Investment Corporation (SCM:N) ........................ 36STEP Energy Services Ltd. (STEP:T) ........................................... 28Stericycle, Inc. (SRCL:Q) ............................................................ 41STERIS plc (STE:N) ................................................................... 41Stock Yards Bancorp, Inc. (SYBT:Q) ........................................... 33StorageVault Canada Inc. (SVI:V) ............................................... 54STORE Capital Corporation (STOR:N) ........................................ 52Storm Resources Ltd. (SRX:T) .................................................... 27Stryker Corporation (SYK:N) ...................................................... 41Stuart Olson Inc. (SOX:T) .......................................................... 46Suburban Propane Partners, L.P. (SPH:N) .................................. 24Summit Hotel Properties, Inc. (INN:N) ....................................... 51Suncor Energy Inc. (SU:T) ......................................................... 29Sunnova Energy International Inc. (NOVA:N) .............................. 25Sunoco LP (SUN:N) ................................................................... 24SunPower Corporation (SPWR:Q) .............................................. 25Sunstone Hotel Investors, Inc. (SHO:N) ...................................... 51Superior Plus Corp. (SPB:T) ...................................................... 46Surge Energy Inc. (SGY:T) .......................................................... 27SVB Financial Group (SIVB:Q) .................................................... 33Switch, Inc. (SWCH:N) ............................................................... 60SYNNEX Corporation (SNX:N) .................................................... 59Synovus Financial Corp. (SNV:N) ............................................... 33Tamarack Valley Energy Ltd. (TVE:T) ......................................... 27Tandem Diabetes Care, Inc. (TNDM:Q) ....................................... 41Targa Resources Corp. (TRGP:N) ............................................... 24Target Corporation (TGT:N) ...................................................... 18Taubman Centers, Inc. (TCO:N) ................................................. 52TCF Financial Corporation (TCF:Q) ............................................ 33TD Ameritrade Holding Corporation (AMTD:Q) ........................... 34Tech Data Corporation (TECD:Q) ............................................... 59

TechTarget, Inc. (TTGT:Q) ......................................................... 58Teck Resources Limited (TECK.B:T) ........................................... 48Tecnoglass Inc. (TGLS:Q) .......................................................... 45Teleflex Incorporated (TFX:N) .................................................... 41Telephone and Data Systems, Inc. (TDS:N) ................................ 60Tellurian Inc. (TELL:Q) .............................................................. 24Tempur Sealy International, Inc. (TPX:N) ................................... 18Tenet Healthcare Corporation (THC:N) ...................................... 40TETRA Technologies, Inc. (TTI:N) ............................................... 25Teva Pharmaceutical Industries Ltd. (TEVA:N) ............................ 42Texas Capital Bancshares, Inc. (TCBI:Q) ..................................... 33Texas Instruments Incorporated (TXN:Q) ................................... 59Texas Roadhouse, Inc. (TXRH:Q) ............................................... 20The Allstate Corporation (ALL:N) ............................................... 35The Bancorp, Inc. (TBBK:Q) ....................................................... 33The Bank of N.T. Butterfield & Son Limited (NTB:N) .................... 33The Charles Schwab Corporation (SCHW:N) ............................... 34The Cooper Companies, Inc. (COO:N) ........................................ 41The Descartes Systems Group Inc. (DSGX:Q) .............................. 61The Estee Lauder Companies Inc. (EL:N) .................................... 19The First of Long Island Corporation (FLIC:Q) ............................. 33The Home Depot, Inc. (HD:N) .................................................... 19The PNC Financial Services Group, Inc. (PNC:N) ......................... 33The Progressive Corporation (PGR:N) ........................................ 35The RealReal, Inc. (REAL:Q) ....................................................... 58The Scotts Miracle-Gro Company (SMG:N) ................................. 19The Toro Company (TTC:N) ....................................................... 18The Trade Desk, Inc. (TTD:Q) ..................................................... 58The Travelers Companies, Inc. (TRV:N) ...................................... 35The Williams Companies, Inc. (WMB:N) ...................................... 24THL Credit, Inc. (TCRD:Q) .......................................................... 36Timbercreek Financial Corp. (TF:T) ............................................ 54T-Mobile US Inc. (TMUS:Q) ........................................................ 60Toll Brothers, Inc. (TOL:N) ........................................................ 51TORC Oil & Gas Ltd. (TOG:T) ..................................................... 27Toromont Industries Ltd. (TIH:T) ............................................... 46Tourmaline Oil Corp. (TOU:T) .................................................... 27TowneBank (TOWN:Q) .............................................................. 33TPG RE Finance Trust, Inc. (TRTX:N) .......................................... 52TPG Specialty Lending, Inc. (TSLX:N) ......................................... 36TPI Composites, Inc. (TPIC:Q) .................................................... 25Tractor Supply Company (TSCO:Q) ........................................... 19Tradeweb Markets Inc. (TW:Q) .................................................. 34TransAlta Renewables Inc. (RNW:T) ........................................... 28TransEnterix, Inc. (TRXC:N) ....................................................... 41Trevali Mining Corporation (TV:T) .............................................. 48Trican Well Service Ltd. (TCW:T) ................................................ 28TriCo Bancshares (TCBK:Q) ....................................................... 33Tricon Residential Inc. (TCN:T) .................................................. 54Trilogy Metals Inc. (TMQ:T) ....................................................... 48Trimble Inc. (TRMB:Q) .............................................................. 56TriState Capital Holdings, Inc. (TSC:Q) ....................................... 34Trisura Group Ltd. (TSU:T) ........................................................ 37True North Commercial REIT (TNT.UN:T) ................................... 54Truist Financial Corporation (TFC:N) ......................................... 34Trupanion, Inc. (TRUP:Q) .......................................................... 39

Company Index


Trustmark Corporation (TRMK:Q) .............................................. 34Twitter, Inc. (TWTR:N) .............................................................. 59Two Harbors Investment Corp. (TWO:N) .................................... 52U.S. Bancorp (USB:N) ............................................................... 34Ulta Beauty, Inc. (ULTA:Q) ........................................................ 19UMB Financial Corporation (UMBF:Q) ........................................ 34Under Armour, Inc. (UAA:N) ...................................................... 20Union Pacific Corporation (UNP:N) ............................................ 64United Airlines Holdings, Inc. (UAL:Q) ........................................ 63United Bankshares, Inc. (UBSI:Q) .............................................. 34United Community Banks, Inc. (UCBI:Q) .................................... 34UnitedHealth Group Incorporated (UNH:N) ................................ 41United Insurance Holdings Corp. (UIHC:Q) ................................. 35United Parcel Service, Inc. (UPS:N) ............................................ 63United States Cellular Corporation (USM:N) ............................... 60Uniti Group Inc. (UNIT:Q) .......................................................... 60Universal Health Services, Inc. (UHS:N) ...................................... 40Univest Financial Corporation (UVSP:Q) .................................... 34Upland Software, Inc. (UPLD:Q) ................................................ 56Uranium Participation Corporation (U:T) ................................... 49USA Compression Partners L.P. (USAC:N) .................................. 25US Ecology, Inc. (ECOL:Q) ......................................................... 45V.F. Corporation (VFC:N) ........................................................... 20Valero Energy Corporation (VLO:N) ............................................ 24VBI Vaccines Inc. (VBIV:Q) ......................................................... 40Veeva Systems Inc. (VEEV:N) ..................................................... 57Velocity Financial, Inc. (VEL:N) .................................................. 52Ventas, Inc. (VTR:N) .................................................................. 51Verisk Analytics, Inc. (VRSK:Q) ................................................... 35Veritex Holdings, Inc. (VBTX:Q) .................................................. 34Verizon Communications Inc. (VZ:N) .......................................... 60Vermilion Energy Inc. (VET:T) .................................................... 27ViaSat, Inc. (VSAT:Q) ................................................................. 60Viking Therapeutics, Inc. (VKTX:Q) ............................................. 40Village Farms International Inc. (VFF:Q) ..................................... 43Viper Energy Partners LP (VNOM:Q) ........................................... 23Visa Inc. (V:N) ........................................................................... 58Visteon Corporation (VC:Q) ....................................................... 56VMware, Inc. (VMW:N) ............................................................... 58Voyager Therapeutics, Inc. (VYGR:Q) .......................................... 40W.W. Grainger, Inc. (GWW:N) ..................................................... 45Wabash National Corporation (WNC:N) ...................................... 45Wajax Corporation (WJX:T) ....................................................... 46Walgreens Boots Alliance, Inc. (WBA:Q) ..................................... 40Walmart Inc. (WMT:N) ............................................................... 18Washington REIT (WRE:N) ......................................................... 53Waste Connections, Inc. (WCN:N) .............................................. 45Waste Management, Inc. (WM:N) ............................................... 45Wayfair, Inc. (W:N) .................................................................... 58Webster Financial Corporation (WBS:N) ..................................... 34Wells Fargo & Company (WFC:N) ............................................... 34Welltower Inc. (WELL:N) ............................................................ 51WesBanco, Inc. (WSBC:Q) .......................................................... 34WESCO International, Inc. (WCC:N) ............................................ 45Western Energy Services Corp. (WRG:T) ..................................... 28Western Forest Products Inc. (WEF:T) ........................................ 48

West Fraser Timber Co. Ltd. (WFT:T) .......................................... 48WEX Inc. (WEX:N) ...................................................................... 58Weyerhaeuser Company (WY:N) ................................................ 53Wheaton Precious Metals Corp. (WPM:N) ................................... 49Whirlpool Corporation (WHR:N) ................................................ 18Whitecap Resources Inc. (WCP:T) .............................................. 27WhiteHorse Finance, Inc. (WHF:Q) ............................................. 36WideOpenWest, Inc. (WOW:N) ................................................... 60Williams-Sonoma, Inc. (WSM:N) ................................................ 19Willis Towers Watson Public Limited Company (WLTW:Q) ........... 35Wingstop Inc. (WING:Q) ............................................................ 20Wintrust Financial Corporation (WTFC:Q) ................................... 34Wix.com Ltd. (WIX:Q) ................................................................ 58Workiva Inc. (WK:N) .................................................................. 57WPX Energy, Inc. (WPX:N) ......................................................... 23WSP Global Inc. (WSP:T) ........................................................... 46Xebec Adsorption Inc. (XBC:V) ................................................... 28Xencor, Inc. (XNCR:Q) ............................................................... 40Xenia Hotels & Resorts, Inc. (XHR:N) .......................................... 51Xilinx, Inc. (XLNX:Q) .................................................................. 59XPO Logistics, Inc. (XPO:N) ........................................................ 63Xylem Inc. (XYL:N) .................................................................... 26Yamana Gold Inc. (AUY:N) ......................................................... 49Yangarra Resources Ltd. (YGR:T) ............................................... 27YETI Holdings, Inc. (YETI:N) ....................................................... 19YPF Sociedad Anonima (YPF:N) ................................................. 24Zimmer Biomet Holdings, Inc. (ZBH:N) ...................................... 41Zions Bancorporation, N.A. (ZION:Q) ......................................... 34Ziopharm Oncology, Inc. (ZIOP:Q) ............................................. 43Zoetis Inc. (ZTS:N) .................................................................... 39Zymeworks Inc. (ZYME:N) ......................................................... 43


Consumer

USABuilding Products ........................................................................................................... 18

Appliances and Other Building Products .......................................................................... 18Floor Covering ............................................................................................................ 18Tools and Outdoor Power Equipment .............................................................................. 18

Furniture & Furnishings Suppliers ...................................................................................... 18Bedding & Residential Furniture ..................................................................................... 18

Hardline Retail ............................................................................................................... 18Auto Part Retail .......................................................................................................... 18Big Box Retailers ......................................................................................................... 18Consumer Electronics Retailers ...................................................................................... 18Convenience Stores ..................................................................................................... 18Home/Land Improvement Retail .................................................................................... 19Rent-to-Own ............................................................................................................... 19Specialty Retail ........................................................................................................... 19Value Retailers ............................................................................................................ 19

Household & Personal Care Products .................................................................................. 19Leisure Products ............................................................................................................. 19Restaurants ................................................................................................................... 19Softline Retail ................................................................................................................ 20

Apparel ..................................................................................................................... 20Athletic ...................................................................................................................... 20

CANConsumer & Retail .......................................................................................................... 21


52 Week EPS

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Joseph Altobello, CFA [email protected] Darkatsh [email protected] Griffin, CFA [email protected]

Matthew McClintock, CFA, CPA [email protected] M. Vaccaro, CFA [email protected] Wilson, CFA [email protected]

Building ProductsAppliances and Other Building ProductsMasco Corporation (ng) MAS N MP3 M/GRW 46.65 NM 50.06 27.04 22.8 2.25 2.04 2.50 Dec $12,304 1.2% SD, JWPGT Innovations, Inc. (ng) PGTI N MP3 H/GRW 13.61 NM 18.48 6.88 20.3 0.82 0.67 0.94 Dec $802 0.0% SD, JWWhirlpool Corporation (ng) WHR N MP3 M/INC 121.82 NM 163.64 64.00 13.0 16.00 9.40 14.00 Dec $7,572 3.9% SD, JWFloor CoveringInterface, Inc. (ng) TILE Q MP3 H/GRW 8.49 NM 17.68 5.06 10.0 1.59 0.85 1.18 Dec $496 0.5% SD, JWMohawk Industries, Inc. (ng) MHK N MO2 M/GRW 93.20 105.00 156.60 56.62 23.3 10.04 4.00 7.15 Dec $6,680 0.0% SD, JWTools and Outdoor Power EquipmentBriggs & Stratton Corporation (ng) BGG N MP3 H/GRW 1.64 NM 10.51 1.50 NM -0.32 -1.95 -0.59 Jun $70 0.0% SD, JWStanley Black & Decker, Inc. (ng) SWK N MP3 M/INC 125.45 NM 173.67 70.00 21.8 8.40 5.75 7.50 Dec $19,336 2.2% SD, JWThe Toro Company (ng) TTC N MP3 M/GRW 71.07 NM 84.26 52.07 21.1 3.00 3.36 3.74 Oct $7,603 1.4% SD, JW

Furniture & Furnishings SuppliersBedding & Residential FurnitureCulp, Inc. (g) CULP N MO2 M/INC 7.71 12.00 19.63 5.28 19.8 0.45 0.39 0.65 Apr $95 5.4% BGEthan Allen Interiors Inc. (ng) ETH N MP3 M/INC 11.30 NM 21.78 8.38 67.6 1.56 0.17 0.24 Jun $283 0.0% BGLa-Z-Boy Incorporated (ng) LZB N MO2 M/GRW 25.72 36.00 37.48 15.61 10.9 2.14 2.37 2.58 Apr $1,184 0.0% BGLeggett & Platt, Incorporated (ng) LEG N SB1 M/INC 30.59 38.00 55.42 22.03 24.9 2.57 1.23 2.01 Dec $4,046 5.2% BGPurple Innovation, Inc. (ng) PRPL Q MO2 H/GRW 14.34 16.00 16.50 4.42 32.9 0.33 0.44 0.43 Dec $773 0.0% BGSleep Number Corporation (g) SNBR Q MP3 H/GRW 31.17 NM 61.00 15.27 23.3 2.70 1.34 2.23 Dec $862 0.0% BGTempur Sealy International, Inc. (ng) TPX N SB1 M/GRW 65.23 65.00 100.39 22.00 27.9 4.01 2.34 4.30 Dec $3,362 0.0% BG

Hardline RetailAuto Part RetailAdvance Auto Parts, Inc. (ng) AAP N MP3 M/GRW 139.32 NM 171.43 71.33 20.8 8.19 6.70 9.00 Dec $9,627 0.7% MMAutoZone, Inc. (g) AZO N MO2 M/GRW 1,147.86 1,300.00 1,274.41 684.91 17.9 63.43 64.00 71.85 Aug $26,803 0.0% MMGenuine Parts Company (ng) GPC N MP3 M/GRW 83.41 NM 108.58 49.68 22.3 5.69 3.75 5.10 Dec $12,033 3.8% MMO'Reilly Automotive, Inc. (ng) ORLY Q MP3 M/GRW 417.24 NM 454.31 251.51 25.4 17.88 16.45 20.00 Dec $30,972 0.0% MMBig Box RetailersCostco Wholesale Corporation (ng) COST Q MO2 M/GRW 308.47 325.00 325.26 233.05 36.5 8.19 8.45 9.41 Aug $136,196 0.9% BGTarget Corporation (ng) TGT N SB1 M/GRW 122.33 150.00 130.24 79.41 26.3 6.40 4.65 6.50 Jan $61,155 2.2% MMWalmart Inc. (ng) WMT N MO2 M/GRW 124.06 135.00 133.38 100.60 24.6 4.91 4.93A 5.04 Jan $351,549 1.7% BGConsumer Electronics RetailersBest Buy Co., Inc. (ng) BBY N SB1 M/GRW 78.09 100.00 91.99 48.10 14.7 5.32 6.07A 5.30 Jan $20,171 2.8% MMConvenience StoresAlimentation Couche-Tard Inc. ($D, ng) ATD.B T SB1 M/GRW C$43.10 45.00 46.10 30.40 22.1 1.66 1.95 1.70 Apr C$47,957 0.6% BGCasey's General Stores, Inc. (ng) CASY Q MP3 H/GRW 159.73 NM 181.99 114.01 21.3 5.51 7.49 5.24 Apr $5,876 0.8% BGCore-Mark Holding Company, Inc. (ng) CORE Q MO2 M/GRW 27.98 31.00 40.95 20.93 18.7 1.71 1.49 1.77 Dec $1,262 1.7% BGMurphy USA Inc. (ng) MUSA N MP3 H/GRW 116.10 NM 121.24 78.75 11.9 5.21 9.73 6.71 Dec $3,388 0.0% BG


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Home/Land Improvement RetailFloor & Decor Holdings, Inc. (ng) FND N MO2 M/GRW 52.00 45.00 62.62 24.36 NM 1.15 0.50 1.10 Dec $5,321 0.0% MMLowe's Companies, Inc. (f, ng) LOW N MP3 M/GRW 130.35 NM 131.40 60.00 20.4 5.74 6.40 5.90 Jan $98,414 1.7% MMThe Home Depot, Inc. (f, ng) HD N MO2 M/GRW 248.48 250.00 252.23 140.63 25.4 10.25 9.80 10.35 Jan $267,245 2.4% MMTractor Supply Company (g) TSCO Q SB1 M/GRW 122.02 135.00 122.52 63.89 20.2 4.68 6.05 6.65 Dec $14,109 1.1% MMRent-to-OwnAaron's, Inc. (ng) AAN N SB1 M/GRW 36.91 50.00 78.65 13.01 14.2 3.89 2.60 3.50 Dec $2,494 0.4% BGRent-A-Center, Inc. (ng) RCII Q SB1 H/GRW 25.46 28.00 31.14 11.69 10.5 2.24 2.42 2.54 Dec $1,369 4.6% BGSpecialty RetailBed Bath & Beyond Inc. (f, ng) BBBY Q SB1 H/SPEC 7.27 9.00 17.79 3.43 NM 0.46 -1.12 0.09 Feb $920 0.0% BGRH (f, ng) RH N MP3 H/GRW 216.89 NM 256.27 73.14 29.7 11.66 7.29 7.93 Jan $4,173 0.0% BGWilliams-Sonoma, Inc. (f, ng) WSM N MP3 M/GRW 83.21 NM 85.61 26.01 19.5 4.84 4.27 4.67 Jan $6,425 2.3% BGValue RetailersDollar General Corporation (f, ng) DG N SB1 M/GRW 191.51 210.00 192.71 122.77 22.4 6.73 8.57 8.47 Jan $48,207 0.8% BGDollar Tree, Inc. (f, ng) DLTR Q MP3 H/GRW 97.87 NM 119.71 60.20 20.5 4.76 4.78 5.31 Jan $23,218 0.0% BG

Household & Personal Care ProductsChurch & Dwight Co., Inc. (ng) CHD N MP3 M/GRW 75.07 NM 80.99 47.98 27.5 2.47 2.73 2.90 Dec $18,459 1.3% JAInter Parfums, Inc. (ng) IPAR Q MP3 M/GRW 46.41 NM 81.40 34.20 NM 1.90 0.35 1.20 Dec $1,463 0.0% JAMAV Beauty Brands Inc. ($D, ae) MAV T SB1 M/GRW C$2.40 3.50 7.87 1.78 NM 29.49 32.70 38.09 Dec C$88 0.0% JANewell Brands Inc. (ng) NWL Q MP3 M/GRW 13.15 NM 20.99 10.44 13.2 1.60 1.00 1.40 Dec $5,577 7.0% JAPetIQ, Inc. (ae) PETQ Q MO2 M/GRW 30.68 32.00 36.33 15.83 0.4 60.67 72.49 104.86 Dec $871 0.0% JAPrestige Consumer Healthcare, Inc. (ng) PBH N MP3 H/GRW 42.20 NM 46.12 27.40 14.1 2.78 2.96A 3.00 Mar $2,114 0.0% JASally Beauty Holdings, Inc. (ng) SBH N MU4 H/GRW 13.04 NM 21.98 6.28 17.4 2.26 0.75 1.90 Sep $1,472 0.0% JAThe Estee Lauder Companies Inc. (ng) EL N MO2 M/GRW 197.47 188.00 220.42 137.01 50.6 5.34 3.90 5.75 Jun $72,604 0.0% JAThe Scotts Miracle-Gro Company (ng) SMG N MP3 M/GRW 142.57 NM 151.03 76.50 26.2 4.47 5.45 6.15 Sep $7,913 1.6% JAUlta Beauty, Inc. (f, ng) ULTA Q MP3 H/GRW 244.01 NM 368.83 124.05 40.7 12.15 6.00 11.00 Jan $13,740 0.0% JA

Leisure ProductsAcushnet Holdings Corp. (ae) GOLF N MP3 M/GRW 33.42 NM 33.90 20.65 NM 240 177 223 Dec $2,482 1.9% JABrunswick Corporation (ng) BC N MO2 H/GRW 55.01 62.00 66.32 25.22 20.0 4.33 2.75 4.40 Dec $4,353 1.7% JACallaway Golf Company (ng) ELY N MO2 H/GRW 15.32 14.50 22.33 4.75 61.3 1.10 0.25 1.00 Dec $1,442 0.3% JAHarley-Davidson, Inc. (ng) HOG N MP3 M/GRW 21.34 NM 40.89 14.31 19.4 3.36 1.10 2.50 Dec $3,269 0.4% JAMalibu Boats, Inc. (ae) MBUU Q MO2 H/GRW 47.13 43.00 52.13 18.02 0.5 125.89 99.99 127.96 Jun $968 0.0% JAMarineMax, Inc. (ng) HZO N MO2 H/GRW 19.03 16.00 23.15 7.25 15.2 1.63 1.25 1.30 Sep $409 0.0% JAMasterCraft Boat Holdings, Inc. (ae) MCFT Q MO2 H/GRW 14.86 12.00 21.53 4.90 0.5 79.32 32.05 52.21 Jun $280 0.0% JAOneWater Marine Inc. (ae) ONEW Q MO2 H/GRW 14.75 14.00 18.40 3.41 NM 46 38 49 Sep $215 0.0% JAPlanet Fitness, Inc. (ng) PLNT N MO2 M/GRW 64.63 63.00 88.77 23.77 NM 1.59 0.40 1.40 Dec $5,587 0.0% JAPolaris Inc. (ng) PII N SB1 M/GRW 87.34 108.00 104.37 37.35 24.3 6.32 3.60 6.00 Dec $5,350 2.8% JAYETI Holdings, Inc. (ng) YETI N MO2 H/GRW 32.10 31.00 38.61 15.28 32.1 1.20 1.00 1.35 Dec $2,791 0.0% JA

RestaurantsBloomin' Brands, Inc. (ng) BLMN Q MO2 H/GRW 11.41 14.00 24.29 4.54 NM 1.54 -2.47 0.61 Dec $998 0.0% BVBrinker International, Inc. (ng) EAT N MO2 H/GRW 26.35 29.00 47.57 7.00 90.0 3.93 0.29 0.87 Jun $1,185 0.0% BVCarrols Restaurant Group, Inc. (ng) TAST Q MP3 H/GRW 4.29 NM 9.76 0.98 NM -0.40 -0.79 -0.58 Dec $226 0.0% BVCheesecake Factory Inc. (g) CAKE Q MP3 M/GRW 21.48 NM 46.26 14.52 NM 2.61 -2.24 1.06 Dec $976 0.0% BV


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Chipotle Mexican Grill, Inc. (ng) CMG N MP3 H/GRW 1,003.91 NM 1,087.00 415.00 NM 14.05 5.19 17.46 Dec $27,999 0.0% BVChuy's Holdings, Inc. (ng) CHUY Q MO2 H/GRW 15.99 20.00 29.45 7.28 NM 1.05 -0.39 0.85 Dec $266 0.0% BVDarden Restaurants, Inc. (ng) DRI N SB1 M/GRW 76.86 90.00 128.41 26.15 32.3 5.82 2.38 1.43 May $9,983 0.0% BVDave & Buster's Entertainment, Inc. (f, ng) PLAY Q MP3 H/GRW 13.19 NM 52.17 4.61 NM 3.12 -8.28 0.62 Jan $612 0.0% BVDine Brands Global, Inc. (ng) DIN N MP3 M/GRW 45.39 NM 104.47 14.16 45.7 6.95 0.99 4.57 Dec $745 0.0% BVFiesta Restaurant Group, Inc. (ng) FRGI Q MP3 H/GRW 8.23 NM 14.53 2.72 NM 0.33 -0.62 0.07 Dec $230 0.0% BVMcDonald's Corporation (ng) MCD N MP3 M/GRW 186.32 NM 221.93 124.23 37.9 7.85 4.91 7.52 Dec $138,540 2.7% BVRed Robin Gourmet Burgers, Inc. (ng) RRGB Q MP3 H/GRW 13.86 NM 37.29 4.04 NM 0.62 -7.40 -1.86 Dec $179 0.0% BVRuth's Hospitality Group, Inc. (ng) RUTH Q MO2 M/GRW 8.11 11.50 25.77 2.31 NM 1.43 -0.86 0.45 Dec $277 0.0% BVShake Shack Inc. (ng) SHAK N MU4 H/GRW 55.55 NM 105.84 30.01 NM 0.72 -0.75 0.15 Dec $2,294 0.0% BVTexas Roadhouse, Inc. (ng) TXRH Q SB1 H/GRW 51.85 56.00 72.49 25.15 NM 2.46 -0.73 2.09 Dec $3,594 0.0% BVWingstop Inc. (ng) WING Q MP3 H/GRW 121.95 NM 130.99 44.27 NM 0.73 1.13 1.29 Dec $3,607 0.4% BV

Softline RetailApparelAmerican Eagle Outfitters, Inc. (ng) AEO N MO2 M/GRW 9.16 10.00 19.90 6.54 NM 1.48 -0.75 0.20 Dec $1,516 6.0% MMHanesbrands Inc. (ng) HBI N MP3 M/GRW 9.86 NM 17.69 6.96 NM 1.53 0.00 1.10 Dec $3,432 6.1% MMV.F. Corporation (ng) VFC N MP3 M/GRW 56.10 NM 100.25 45.07 20.9 3.78 2.69 0.77 Mar $21,814 3.4% MMAthleticDick's Sporting Goods, Inc. (f, ng) DKS N MU4 M/GRW 36.06 NM 49.80 13.46 9.2 3.69 3.90 4.00 Jan $3,220 3.5% MMFoot Locker, Inc. (ng) FL N MO2 M/GRW 27.70 30.00 47.86 17.46 NM 4.93 -0.60 3.00 Jan $2,886 0.0% MMlululemon athletica inc. (ng) LULU Q SB1 M/GRW 300.10 335.00 301.49 128.84 79.1 4.93 3.80 5.20 Jan $37,308 0.0% MMNIKE, Inc. (ng) NKE N MO2 M/GRW 98.58 100.00 105.62 60.00 34.2 2.49 2.88 2.90 May $153,294 1.0% MMUnder Armour, Inc. (ng) UAA N SB1 M/GRW 8.75 12.00 27.72 7.15 NM 0.34 -0.55 0.10 Dec $3,973 0.0% MM


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Michael Glen, CFA [email protected] Consumer & RetailCCL Industries Inc. CCL.B T MO2 M/GRW C$46.39 53.00 68.49 34.57 17.4 2.66E 2.37 2.69 Dec C$8,287 1.6% MGGoodfood Market Corp. (ae) FOOD T MO2 H/SPEC C$4.32 4.90 4.94 1.49 NM -16 -11 -2 Dec C$252 0.0% MGK-Bro Linen Inc. (cb) KBL T SB1 M/INC C$29.75 37.00 46.44 23.73 1.1 48 26 34 Dec C$318 4.0% MGMagna International Inc. MGA N MP3 M/INC 42.18 41.00 57.09 22.75 NM 6.05 0.00 4.73 Dec $12,791 3.8% MGMartinrea International Inc. MRE T MO2 H/INC C$9.05 12.50 14.75 5.64 75.9 2.27 0.12 1.56 Dec C$725 2.2% MGMTY Food Group Inc. (cb) MTY T MP3 H/GRW C$24.79 26.00 68.66 14.23 NM 147 93 97 Dec C$617 0.0% MG


Energy

USAExploration and Production .............................................................................................. 23Independent Refiners ...................................................................................................... 23Integrated Oil and Gas ..................................................................................................... 24Midstream Suppliers ........................................................................................................ 24Oilfield Services .............................................................................................................. 25

Diversified Oilfield Services ........................................................................................... 25Gas Compression ........................................................................................................ 25Manufacturing & Fabrication ......................................................................................... 25Offshore Construction .................................................................................................. 25Onshore Drillers .......................................................................................................... 25Pressure Pumpers ....................................................................................................... 25Production/Workover/Miscellaneous ............................................................................... 25

Renewable Energy and Clean Technology ............................................................................ 25Fuels and Chemicals .................................................................................................... 25Power ....................................................................................................................... 25Water ........................................................................................................................ 26

CANIntermediate Oil & Gas Producers ...................................................................................... 27Junior Oil & Gas Producers ............................................................................................... 27Oil & Gas Energy Services ................................................................................................. 27

Ancillary Wellsite Services ............................................................................................. 27Blended Production/Midstream/Wellsite .......................................................................... 27Contract Drillers .......................................................................................................... 28Pressure Pumpers ....................................................................................................... 28

Oil Sands ...................................................................................................................... 28Power & Energy Infrastructure ........................................................................................... 28

Diversified & Utilities .................................................................................................... 28Independent Power Producers ....................................................................................... 28Pipelines & Midstream .................................................................................................. 28

Senior Oil & Gas Producers ............................................................................................... 28


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John Freeman, CFA [email protected] Jenkins [email protected]

Pavel Molchanov [email protected] Narra, CFA [email protected]. Weston, CFA [email protected]

Exploration and ProductionAntero Resources Corporation (ng) AR N MU4 H/SPEC 2.99 NM 7.18 0.64 NM -0.37 -0.82 -1.23 Dec $802 0.0% JFApache Corporation (ng) APA N MP3 H/GRW 10.79 NM 33.77 3.80 NM 0.01 -2.33 -0.97 Dec $4,072 0.9% JFBlack Stone Minerals, L.P. (cu) BSM N MO2 H/INC 6.34 8.00 16.64 4.04 19.8 1.41 0.32 0.44 Dec $1,311 5.0% JFBrigham Minerals, Inc. (ds) MNRL N MO2 H/INC 13.25 15.00 23.29 5.86 14.7 1.04 0.90 0.70 Dec $754 11.2% JFCabot Oil & Gas Corporation (ng) COG N MO2 H/GRW 19.84 25.00 25.85 13.06 26.6 1.68 0.75 1.67 Dec $7,908 2.0% JFCalifornia Resources Corporation (ng) CRC N MP3 H/SPEC 1.33 NM 20.78 0.85 NM 1.42 -12.02 -15.60 Dec $66 0.0% PMChesapeake Energy Corporation (ng) CHK N MU4 H/SPEC 13.01 NM 430.00 7.77 NM -47.01 -87.97 -151.19 Dec $127 0.0% JFCimarex Energy Co. (ng) XEC N MP3 H/GRW 26.28 NM 62.17 12.15 NM 4.17 -2.07 -1.83 Dec $2,683 3.3% JFCNX Resources Corporation (ng) CNX N MO2 H/GRW 10.19 17.00 14.19 4.26 36.5 0.92 0.28 0.65 Dec $1,906 0.0% JFConcho Resources Inc. (ng) CXO N MO2 H/GRW 54.52 70.00 107.69 33.13 11.9 3.04 4.58 2.79 Dec $10,724 1.5% JFConocoPhillips (ng) COP N MO2 M/GRW 42.18 46.00 67.13 20.84 NM 3.59 -1.15 -1.07 Dec $45,235 4.0% PMContinental Resources Inc. (ng) CLR N MP3 H/GRW 12.23 NM 43.57 6.90 NM 2.25 -2.24 -1.60 Dec $4,466 0.0% JFDevon Energy Corporation (ng) DVN N MO2 H/GRW 10.81 15.00 29.36 4.70 NM 1.39 -0.53 -1.23 Dec $4,137 4.1% JFDiamondback Energy, Inc. (ng) FANG Q MO2 H/GRW 42.58 50.00 111.84 14.55 19.1 6.48 2.22 0.54 Dec $6,720 3.5% JFEOG Resources, Inc. (ng) EOG N MO2 H/GRW 50.97 60.00 95.29 27.00 NM 5.01 -0.20 -0.71 Dec $29,667 2.9% JFHess Corporation (ng) HES N MO2 M/INC 47.47 52.00 74.11 26.06 NM -0.92 -1.66 -3.84 Dec $14,580 2.1% PMKimbell Royalty Partners L.P. (cu) KRP N SB1 H/INC 6.86 10.00 17.72 3.51 12.8 1.56 0.53 0.61 Dec $251 19.8% JFKosmos Energy Ltd. (ng) KOS N MP3 H/SPEC 1.82 NM 7.55 0.50 NM -0.05 -0.59 -0.59 Dec $737 0.0% PMLaredo Petroleum, Inc. (ng) LPI N MP3 H/SPEC 0.85 NM 3.42 0.33 2.0 0.74 0.43 -0.00 Dec $203 0.0% JFMarathon Oil Corporation (ng) MRO N SB1 M/GRW 5.34 7.00 14.70 3.02 NM 0.76 -1.22 -1.32 Dec $4,226 0.0% PMMatador Resources Company (ng) MTDR N MP3 H/GRW 7.84 NM 20.57 1.11 NM 1.20 -0.25 -0.57 Dec $922 0.0% JFMurphy Oil Corporation (ng) MUR N MP3 M/INC 11.95 NM 28.12 4.50 NM 0.87 -3.47 -3.72 Dec $1,835 4.2% PMNational Fuel Gas Company (ng) NFG N MO2 H/GRW 41.97 49.00 55.98 31.58 15.3 3.45 2.74 3.41 Sep $3,633 4.1% JFNoble Energy, Inc. (ng) NBL Q MP3 H/GRW 8.73 NM 27.31 2.73 NM -0.35 -1.19 -1.21 Dec $4,188 0.9% JFOasis Petroleum Inc. (ng) OAS Q MU4 H/SPEC 0.46 NM 5.92 0.24 NM 0.03 -0.34 -0.74 Dec $149 0.0% JFOccidental Petroleum Corporation (ng) OXY N SB1 M/INC 12.95 21.00 54.05 9.00 NM 1.46 -4.31 -4.35 Dec $11,655 3.4% PMParsley Energy, Inc. (ng) PE N MO2 H/SPEC 9.14 12.00 20.80 3.92 NM 1.12 -0.39 -0.53 Dec $3,773 2.2% JFPioneer Natural Resources Company (ng) PXD N MO2 H/GRW 91.60 105.00 159.01 48.62 53.7 8.23 1.70 1.88 Dec $15,101 2.4% JFQEP Resources, Inc. (ng) QEP N MP3 H/SPEC 0.85 NM 7.42 0.26 2.2 0.00 0.39 -0.75 Dec $207 0.0% JFRange Resources Corporation (ng) RRC N MU4 H/GRW 5.99 NM 8.38 1.61 NM 0.40 -0.09 0.15 Dec $1,532 0.0% JFSM Energy Company (ng) SM N MP3 H/SPEC 3.52 NM 13.05 0.90 NM -0.48 -1.14 -3.55 Dec $398 0.6% JFSouthwestern Energy Company (ng) SWN N MU4 H/SPEC 3.01 NM 3.83 1.06 15.4 0.68 0.20 0.96 Dec $1,630 0.0% JFViper Energy Partners LP (cu) VNOM Q MO2 H/INC 10.49 10.00 33.10 4.98 36.7 1.77 0.29 0.31 Dec $712 3.8% JFWPX Energy, Inc. (ng) WPX N MO2 H/GRW 5.67 8.00 14.43 1.94 19.6 0.33 0.29 -0.81 Dec $3,172 0.0% JF

Independent RefinersCalumet Specialty Products Partners, LP (u) CLMT Q MP3 H/GRW 2.57 NM 5.00 0.82 NM -0.55 -1.23 -0.30 Dec $200 0.0% JJDelek US Holdings, Inc. (ng) DK N MO2 H/GRW 19.67 23.00 44.08 7.79 NM 2.57 -1.10 1.15 Dec $1,446 6.3% JJHollyFrontier Corporation (ng) HFC N MP3 H/GRW 31.45 NM 58.88 18.48 NM 4.90 -0.25 2.30 Dec $5,091 4.5% JJMarathon Petroleum Corporation (ng) MPC N MP3 H/GRW 35.14 NM 69.65 15.26 NM 4.83 -2.50 2.50 Dec $22,850 6.6% JJ


52 Week EPS

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Energy - USA

PBF Energy Inc. (ng) PBF N MP3 H/GRW 10.62 NM 34.91 5.19 NM 0.91 -5.50 0.50 Dec $1,287 0.0% JJPhillips 66 (ng) PSX N MO2 H/GRW 78.26 75.00 119.92 40.04 39.2 8.05 2.00 7.25 Dec $34,174 4.6% JJValero Energy Corporation (ng) VLO N MO2 H/GRW 66.64 71.00 101.99 31.00 NM 5.43 -0.25 5.50 Dec $27,169 5.9% JJ

Integrated Oil and GasBP p.l.c. (ed, r) BP N MO2 M/INC 23.14 26.00 42.70 15.51 NM 2.94 -1.24 -0.92 Dec $78,137 10.9% PMChevron Corporation (ng) CVX N MO2 M/INC 91.70 95.00 127.00 51.60 NM 6.12 -1.76 -2.40 Dec $171,202 5.6% PMEcopetrol S.A. (ed, r) EC N MP3 H/GRW 10.41 NM 20.95 6.28 45.2 2.15 0.23 0.31 Dec $21,401 21.9% PMExxon Mobil Corporation (ng) XOM N MU4 M/INC 45.47 NM 77.92 30.11 NM 2.25 -1.68 -1.11 Dec $192,257 7.7% PMPetroleo Brasileiro SA - Petrobras (ed, r) PBR N MU4 H/GRW 7.63 NM 16.95 4.01 NM 1.29 -0.52 -0.10 Dec $49,765 2.4% PMYPF S.A. (ed, r) YPF N MO2 H/GRW 5.04 10.00 18.73 2.25 NM -0.21 -3.42 -3.74 Dec $1,982 4.4% PM

Midstream SuppliersAntero Midstream Corporation (g) AM N MP3 H/INC 4.78 NM 13.12 1.69 NM -0.64 -0.29 0.76 Dec $2,278 25.7% JRW, JJCheniere Energy, Inc. (g) LNG N MO2 M/GRW 44.35 59.00 70.49 27.06 14.5 2.51 3.06 3.43 Dec $11,181 0.0% JJ, JRWCheniere Energy Partners, L.P. (gu) CQP N MU4 H/INC 33.74 NM 49.30 17.75 12.2 2.25 2.77 2.61 Dec $16,331 7.6% JJ, JRWCrestwood Equity Partners LP (gu) CEQP N MO2 H/INC 14.21 13.00 40.00 2.65 NM 2.91 -1.11 -0.38 Dec $1,040 17.6% JRW, JJCrossAmerica Partners L.P. (u) CAPL N MO2 H/INC 15.10 15.00 19.79 6.81 7.4 0.52 2.03 0.35 Dec $572 13.9% JJ, JRWDCP Midstream, LP (gu) DCP N MP3 H/INC 11.00 NM 31.82 2.20 NM -1.05 -1.97 0.83 Dec $2,292 14.2% JRW, JJDelek Logistics Partners, LP (gu) DKL N MP3 H/INC 23.81 NM 33.69 5.51 7.7 2.61 3.09 3.66 Dec $712 15.0% JJ, JRWEnergy Transfer LP (gu) ET N SB1 M/INC 8.16 11.00 15.26 3.75 14.9 1.36 0.55 1.06 Dec $21,986 15.0% JJ, JRWEnLink Midstream, LLC (gu) ENLC N MP3 H/INC 2.36 NM 10.83 0.88 NM -2.41 -0.68 -0.24 Dec $1,155 16.1% JRW, JJEnterprise Products Partners L.P. (gu) EPD N SB1 M/INC 19.10 25.00 30.86 10.27 10.2 2.08 1.88 1.89 Dec $41,749 9.3% JJ, JRWGenesis Energy, L.P. (gu) GEL N MP3 H/INC 8.02 NM 23.84 2.58 NM 0.18 0.00 0.27 Dec $983 7.5% JJ, JRWGlobal Partners LP (u) GLP N MP3 H/INC 10.20 NM 21.62 6.30 NM 0.81 -0.65 0.54 Dec $347 19.1% JJ, JRWHolly Energy Partners, L.P. (gu) HEP N MO2 H/INC 16.16 18.00 30.61 6.57 11.8 2.13 1.37 1.92 Dec $1,704 8.7% JJ, JRWKinder Morgan, Inc. (g) KMI N MO2 M/INC 15.80 17.00 22.58 9.42 34.4 0.96 0.46 0.92 Dec $35,732 6.6% JJ, JRWMagellan Midstream Partners, L.P. (gu) MMP N MO2 M/INC 45.34 50.00 67.75 22.02 12.3 4.46 3.69 4.14 Dec $10,204 9.1% JJ, JRWMPLX L.P. (gu) MPLX N MP3 H/INC 18.99 NM 32.65 6.87 NM 1.03 -0.93 2.40 Dec $20,103 14.5% JJ, JRWNGL Energy Partners LP (gu) NGL N MP3 H/INC 5.10 NM 15.71 1.15 NM 1.98 -2.32 -0.50 Mar $655 15.7% JJ, JRWNuStar Energy L.P. (gu) NS N MP3 H/INC 17.37 NM 30.06 4.98 NM -1.97 -0.62 1.58 Dec $1,896 9.2% JJ, JRWONEOK, Inc. (g) OKE N MO2 H/INC 36.69 35.00 78.48 12.16 22.5 3.07 1.63 2.98 Dec $15,186 10.2% JRW, JJPBF Logistics L.P. (gu) PBFX N MP3 H/INC 10.40 NM 22.00 3.06 5.4 1.69 1.94 2.17 Dec $648 11.5% JJ, JRWPhillips 66 Partners L.P. (gu) PSXP N MO2 M/INC 44.68 52.00 65.22 19.00 13.0 4.28 3.45 4.05 Dec $10,202 7.8% JJ, JRWPlains All American Pipeline, L.P. (u) PAA N MO2 H/INC 9.70 10.00 25.26 3.00 5.8 2.46 1.66 1.61 Dec $7,062 7.4% JJ, JRWPlains GP Holdings, L.P. (u) PAGP N MO2 H/INC 9.99 10.00 25.69 3.04 NM 2.00 -2.58 0.92 Dec $2,470 7.2% JJ, JRWRattler Midstream LP (gu) RTLR Q MP3 H/INC 8.41 NM 20.24 2.90 8.2 0.96 1.02 1.08 Dec $1,274 13.8% JJ, JRWSprague Resources LP (gu) SRLP N MP3 H/INC 14.95 NM 19.10 9.83 8.3 1.10 1.81 1.07 Dec $343 17.9% JJ, JRWSuburban Propane Partners, L.P. (u) SPH N MO2 H/INC 14.59 16.00 24.89 8.64 30.6 1.10 0.48 0.96 Sep $906 16.4% JJ, JRWSunoco LP (u) SUN N MO2 H/INC 25.80 27.00 34.09 10.46 36.8 3.75 0.70 3.89 Dec $2,142 12.8% JJ, JRWTarga Resources Corp. (g) TRGP N MO2 H/INC 17.89 21.00 43.47 3.66 NM -1.68 -8.09 0.21 Dec $4,171 2.2% JRW, JJTellurian Inc. (g) TELL Q MP3 H/SPEC 1.00 NM 9.28 0.67 NM -0.69 -0.85 1.31 Dec $258 0.0% JJ, JRWThe Williams Companies, Inc. (g) WMB N SB1 M/INC 20.43 22.00 29.06 8.41 75.6 0.70 0.27 0.87 Dec $24,786 7.8% JJ, JRW


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Oilfield ServicesDiversified Oilfield ServicesHalliburton Company (ng) HAL N SB1 H/SPEC 11.75 12.00 25.47 4.25 NM 1.24 0.10 -0.33 Dec $10,308 1.5% PNSchlumberger Limited (ng) SLB N MP3 H/SPEC 18.47 NM 41.40 11.87 NM 1.47 0.16 -0.28 Dec $25,633 2.7% PNGas CompressionCSI Compressco LP (u) CCLP Q MP3 H/SPEC 0.43 NM 3.98 0.35 NM -0.34 -1.40 -1.89 Dec $21 9.2% PNUSA Compression Partners L.P. (u) USAC N MP3 H/SPEC 12.05 NM 19.00 3.52 NM -0.03 -0.29 -0.84 Dec $1,243 17.4% PNManufacturing & FabricationCactus, Inc. (ng) WHD N SB1 H/SPEC 19.08 22.00 35.28 8.16 60.6 1.86 0.31 -0.23 Dec $1,438 1.9% PNNational Oilwell Varco, Inc. (ng) NOV N MO2 H/SPEC 12.47 14.00 25.81 8.00 NM 0.43 -0.42 -0.96 Dec $4,841 0.0% PNOil States International, Inc. (ng) OIS N MP3 H/SPEC 4.24 NM 19.01 1.52 NM -0.60 -1.59 -1.34 Dec $258 0.0% PNOffshore ConstructionHelix Energy Solutions Group, Inc. (ng) HLX N MO2 H/SPEC 3.36 5.00 10.00 0.99 84.6 0.38 0.04 -0.24 Dec $504 0.0% PNOnshore DrillersNabors Industries Ltd. (ng) NBR N MP3 H/SPEC 37.06 NM 167.50 9.79 NM -65.23 -133.55 -169.59 Dec $271 0.0% PNPatterson-UTI Energy, Inc. (ng) PTEN Q MP3 H/SPEC 3.69 NM 12.39 1.61 NM -0.97 -2.74 -3.28 Dec $688 2.2% PNPressure PumpersProPetro Holding Corp. (ng) PUMP N MO2 H/SPEC 4.95 5.00 21.83 1.36 NM 1.97 -0.59 -0.98 Dec $497 0.0% PNRPC, Inc. (ng) RES N MO2 H/SPEC 3.18 4.00 8.05 1.72 NM -0.13 -0.43 -0.26 Dec $685 6.3% PNProduction/Workover/MiscellaneousNewpark Resources, Inc. (ng) NR N SB1 H/SPEC 2.02 3.00 8.08 0.65 NM 0.08 -0.47 -0.11 Dec $182 0.0% PNNine Energy Service, Inc. (ng) NINE N MP3 H/SPEC 2.03 NM 19.05 0.38 NM -0.43 -2.33 -2.77 Dec $64 0.0% PNSolaris Oilfield Infrastructure, Inc. (ng) SOI N MP3 H/SPEC 6.93 NM 16.23 4.50 NM 1.47 -0.10 -0.33 Dec $314 6.1% PNTETRA Technologies, Inc. (ng) TTI N MP3 H/SPEC 0.33 NM 2.18 0.22 NM -0.05 -0.27 -0.43 Dec $42 0.0% PN

Renewable Energy and Clean TechnologyFuels and ChemicalsChart Industries, Inc. (ng) GTLS Q MO2 M/GRW 39.25 50.00 82.49 15.00 16.8 2.58 2.33 4.16 Dec $1,411 0.0% PMClean Energy Fuels Corp. (ng) CLNE Q MP3 H/GRW 2.09 NM 2.93 1.05 NM 0.15 -0.01 -0.08 Dec $420 0.0% PMGreen Plains Partners LP (qu) GPP Q SB1 H/INC 6.61 12.00 14.93 3.47 5.3 1.77 1.25 1.66 Dec $153 7.3% PMPowerAdvanced Energy Industries, Inc. (ng) AEIS Q MO2 M/GRW 66.83 67.00 78.49 33.38 20.6 2.44 3.25 3.83 Dec $2,558 0.0% PMAmeresco, Inc. (ng) AMRC N SB1 M/GRW 21.46 25.00 26.19 13.11 22.8 0.83 0.94 1.04 Dec $1,021 0.0% PMBloom Energy Corporation (ng) BE N MP3 H/GRW 8.03 NM 14.51 2.44 NM -0.23 -0.84 -0.22 Dec $1,005 0.0% PMEnphase Energy, Inc. (ng) ENPH Q MP3 H/GRW 58.19 NM 70.36 14.56 61.5 0.97 0.95 1.20 Dec $7,286 0.0% PMEnviva Partners, LP (qu) EVA N SB1 M/INC 34.98 38.00 39.30 20.63 23.8 0.79 1.47 1.64 Dec $1,176 7.8% PMFirst Solar, Inc. (ng) FSLR Q MO2 M/GRW 46.62 56.00 69.23 28.47 16.7 1.49 2.80 3.74 Dec $4,938 0.0% PMItron, Inc. (ng) ITRI Q MO2 M/GRW 64.42 82.00 88.32 40.48 33.2 3.33 1.94 4.08 Dec $2,590 0.0% PMNextEra Energy Partners, L.P. (qu) NEP N MO2 M/INC 51.11 56.00 61.87 29.01 NM -1.58 -2.34 1.50 Dec $3,349 4.3% PMSunnova Energy International Inc. (ng) NOVA N MO2 H/GRW 15.00 16.50 20.87 6.12 NM -3.91 -2.27 -2.71 Dec $1,260 0.0% PMSunPower Corporation (ng) SPWR Q MP3 H/GRW 7.22 NM 16.04 4.03 NM -0.29 -0.30 0.27 Dec $1,227 0.0% PMTPI Composites, Inc. (ng) TPIC Q SB1 H/GRW 20.75 23.00 27.80 9.19 NM -0.02 -0.01 0.88 Dec $732 0.0% PM


52 Week EPS

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WaterEnergy Recovery, Inc. (ng) ERII Q MO2 H/GRW 7.68 11.00 12.04 6.11 57.6 0.18 0.13 0.23 Dec $427 0.0% PMEvoqua Water Technologies Corp. (ng) AQUA N SB1 M/GRW 18.81 19.00 25.23 7.08 65.5 0.40 0.29 0.49 Sep $2,200 0.0% PMXylem Inc. (ng) XYL N MO2 M/GRW 66.34 79.00 89.34 54.62 53.5 3.02 1.24 2.81 Dec $11,936 1.6% PM


52 Week EPS

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Energy - CAN

Frederic Bastien, CFA [email protected] Bradford, CFA [email protected] Cox, CFA [email protected]

Jeremy McCrea, CFA [email protected] Quezada, CFA [email protected]

Intermediate Oil & Gas ProducersAdvantage Oil & Gas Ltd. (cf) AAV T MO2 H/GRW C$2.10 2.50 2.94 0.98 4.0 0.83 0.53 0.85 Dec C$394 0.0% CCARC Resources Ltd. (cf) ARX T MO2 H/INC C$5.72 6.75 8.39 2.42 5.1 1.91 1.13 1.24 Dec C$2,026 4.2% JMAthabasca Oil Corp. (cf) ATH T MU4 H/GRW C$0.13 0.00 0.84 0.10 NM 0.29 -0.21 -0.25 Dec C$68 0.0% CCBaytex Energy Corp. (cf) BTE T MU4 H/GRW C$0.42 0.30 2.36 0.27 1.3 1.62 0.32 0.25 Dec C$235 0.0% JMBirchcliff Energy Ltd. (cf) BIR T MP3 H/GRW C$1.40 1.50 3.39 0.58 3.5 1.19 0.40 0.91 Dec C$372 7.1% JMCardinal Energy Ltd. (cf) CJ T MU4 H/GRW C$0.47 0.05 2.91 0.30 NM 1.05 -0.07 0.14 Dec C$54 0.0% JMCrescent Point Energy Corp. (cf) CPG T MU4 H/GRW C$1.94 1.75 6.30 0.75 1.7 3.34 1.14 0.53 Dec C$1,027 0.5% CCEnerplus Corporation (cf) ERF T MP3 H/GRW C$3.69 3.50 11.15 1.62 3.6 3.04 1.03 1.34 Dec C$821 3.3% CCFreehold Royalties Ltd. (cf) FRU T MP3 H/GRW C$3.60 5.00 8.70 2.30 8.7 1.01 0.41 0.46 Dec C$427 5.0% JMKelt Exploration Ltd. (cf) KEL T MP3 H/GRW C$1.45 2.25 4.99 0.67 5.3 0.94 0.27 0.39 Dec C$272 0.0% JMNuVista Energy Ltd. (cf) NVA T MP3 H/GRW C$0.76 0.75 3.36 0.24 1.0 1.18 0.77 0.41 Dec C$171 0.0% JMParamount Resources Ltd. (cf) POU T MU4 H/GRW C$1.61 1.25 8.15 0.81 5.2 2.28 0.31 0.94 Dec C$216 1.9% CCPeyto Exploration & Development Corp (cf) PEY T MP3 H/GRW C$2.46 2.00 5.15 0.91 1.9 1.95 1.29 1.88 Dec C$406 1.6% JMPrairieSky Royalty Ltd. (cf) PSK T MO2 H/GRW C$9.22 12.00 19.70 6.24 20.0 0.94 0.46 0.54 Dec C$2,145 8.5% JMSeven Generations Energy Ltd. (cf) VII T MO2 H/GRW C$2.90 3.50 9.57 1.15 1.7 3.98 1.72 1.72 Dec C$966 0.0% CCSurge Energy Inc. (cf) SGY T MU4 H/GRW C$0.27 0.25 1.35 0.19 3.6 0.54 0.07 0.12 Dec C$90 0.0% JMTamarack Valley Energy Ltd. (cf) TVE T MP3 H/GRW C$0.73 0.80 2.44 0.39 1.6 0.97 0.46 0.37 Dec C$162 0.0% JMTORC Oil & Gas Ltd. (cf) TOG T MP3 H/GRW C$1.44 1.00 4.78 0.41 5.2 1.37 0.28 0.43 Dec C$320 0.0% JMTourmaline Oil Corp. (cf) TOU T MO2 H/GRW C$13.68 17.00 18.41 6.73 4.2 4.43 3.22 4.36 Dec C$3,704 3.5% CCVermilion Energy Inc. (cf) VET T MP3 H/GRW C$6.86 4.75 29.50 2.20 3.6 5.88 1.91 2.94 Dec C$1,072 0.0% JMWhitecap Resources Inc. (cf) WCP T MP3 H/GRW C$2.03 1.75 5.71 0.73 3.6 1.64 0.56 0.43 Dec C$828 8.4% JM

Junior Oil & Gas ProducersBonavista Energy Corporation (cf) BNP T MU4 H/GRW C$0.15 0.05 0.86 0.08 0.6 0.70 0.27 0.23 Dec C$39 0.0% JMBonterra Energy Corp. (cf) BNE T MU4 H/GRW C$1.38 0.90 6.05 0.64 3.4 2.88 0.40 0.84 Dec C$46 0.0% JMCrew Energy Inc. (cf) CR T MU4 H/GRW C$0.35 0.20 0.99 0.14 1.6 0.54 0.22 0.16 Dec C$55 0.0% JMLeucrotta Exploration Inc. (cf) LXE V MP3 H/GRW C$0.46 0.30 0.90 0.14 NM 0.05 -0.01 0.01 Dec C$92 0.0% CCObsidian Energy Ltd. (cf) OBE T MU4 H/SPEC C$0.45 0.05 2.23 0.20 NM 1.39 -0.12 0.14 Dec C$33 0.0% JMPainted Pony Energy Ltd. (cf) PONY T MU4 H/GRW C$0.58 0.75 1.20 0.19 4.2 0.47 0.14 0.28 Dec C$93 0.0% JMPetrus Resources Ltd. (cf) PRQ T MU4 H/GRW C$0.12 0.05 0.37 0.05 NM 0.70 0.40 0.40 Dec C$6 0.0% JMPipestone Energy PIPE V MP3 H/GRW C$0.55 0.75 1.75 0.30 5.8 0.01 0.10 0.03 Dec C$105 0.0% CCStorm Resources Ltd. (cf) SRX T MP3 H/GRW C$1.37 1.25 2.10 0.85 4.0 0.49 0.34 0.48 Dec C$167 0.0% JMYangarra Resources Ltd. (cf) YGR T MP3 H/GRW C$0.62 0.65 2.54 0.26 1.8 1.08 0.34 0.51 Dec C$53 0.0% JM

Oil & Gas Energy ServicesAncillary Wellsite ServicesEssential Energy Services Ltd. (cb) ESN T MP3 H/GRW C$0.15 0.25 0.49 0.12 NM 16 7 2 Dec C$21 0.0% ABBlended Production/Midstream/WellsiteCES Energy Solutions Corp. (cb) CEU T MO2 H/INC C$1.01 1.35 2.48 0.53 NM 162 124 88 Dec C$265 0.0% ABEnerflex Ltd. (cb) EFX T MO2 H/GRW C$5.52 10.25 17.24 4.18 NM 341 177 165 Dec C$495 1.4% AB


52 Week EPS

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Energy - CAN

Mullen Group Ltd. (cb) MTL T MO2 H/INC C$5.96 6.50 10.62 3.85 NM 201 155 151 Dec C$625 0.0% ABQuestor Technology Inc. QST V MP3 H/GRW C$1.58 1.60 5.68 1.18 1.1 14 1 -0 Dec C$43 0.0% MSSecure Energy Services Inc. (cb) SES T MO2 H/INC C$1.16 2.10 7.36 0.64 NM 180 101 106 Dec C$184 2.6% ABContract DrillersEnsign Energy Services Inc. (cb) ESI T MP3 H/INC C$0.72 0.35 5.32 0.22 NM 407 218 94 Dec C$117 0.0% ABPrecision Drilling Corporation (cb) PD T MO2 H/GRW C$0.76 0.90 2.67 0.38 NM 392 208 89 Dec C$209 0.0% ABWestern Energy Services Corp. (cb) WRG T MU4 H/GRW C$0.25 0.00 0.38 0.16 NM 24 4 -1 Dec C$23 0.0% ABPressure PumpersCalfrac Well Services (cb) CFW T MU4 H/GRW C$0.20 0.00 2.24 0.13 NM 161 15 -6 Dec C$29 0.0% ABSTEP Energy Services Ltd. (cb) STEP T MP3 H/GRW C$0.40 0.40 2.08 0.27 NM 79 26 -5 Dec C$27 0.0% ABTrican Well Service Ltd. (cb) TCW T MP3 H/GRW C$0.83 0.65 1.35 0.42 NM 31 -3 -6 Dec C$221 0.0% AB

Oil SandsMEG Energy Corp. (cf) MEG T MP3 H/GRW C$3.20 3.50 8.07 1.13 5.3 2.41 0.60 -0.47 Dec C$959 0.0% CC

Power & Energy InfrastructureDiversified & UtilitiesAlgonquin Power & Utilities AQN N SB1 M/INC 14.00 18.00 16.85 9.53 20.4 0.63 0.69 0.79 Dec $7,383 6.2% DQBrookfield Infrastructure Partners L.P. (x) BIP N MO2 H/INC 40.66 50.00 56.31 25.77 13.8 3.06 2.95 3.40 Dec $11,936 4.8% FBEmera Incorporated EMA T MO2 M/INC C$54.74 63.00 60.94 42.12 19.2 2.58 2.85 3.04 Dec C$13,393 4.5% DQFortis, Inc. FTS T MO2 M/INC C$53.01 58.00 59.28 41.52 19.5 2.55 2.71 2.87 Dec C$24,613 3.6% DQHydro One Ltd. H T MP3 M/INC C$26.68 28.00 29.53 20.25 18.9 1.53 1.41 1.48 Dec C$15,931 3.8% DQ, FBSpark Power Group SPG T MO2 H/GRW C$1.10 2.00 2.25 0.90 10.0 0.03 0.11 0.25 Dec C$59 0.0% DQXebec Adsorption Inc. XBC V SB1 H/GRW C$4.00 5.00 4.67 1.23 53.3 0.03 0.08 0.17 Dec C$348 0.0% DQIndependent Power ProducersAtlantica Yield plc AY Q MO2 M/INC 26.20 33.00 32.50 17.73 39.1 0.63 0.67 1.11 Dec $2,662 6.3% DQBoralex, Inc. BLX T SB1 M/INC C$28.65 34.00 32.04 17.91 69.0 -0.43 0.42 0.38 Dec C$2,764 2.3% DQBrookfield Renewable Partners L.P. (x) BEP N R M/INC 48.85 R 57.69 30.09 R 2.44 R R Dec $15,079 6.3% FBCapital Power Corporation CPX T MO2 M/INC C$26.73 36.00 38.88 20.23 15.9 1.34 1.68 1.94 Dec C$2,808 7.2% DQInnergex Renewable Energy Inc. INE T SB1 M/GRW C$18.94 22.00 22.28 13.61 NM -0.24 -0.02 0.42 Dec C$3,300 3.8% DQNorthland Power Inc. NPI T MO2 M/GRW C$31.84 33.00 33.16 20.52 18.6 1.70 1.71 1.86 Dec C$6,178 3.8% DQPolaris Infrastructure Inc. PIF T MO2 H/SPEC C$13.25 25.00 17.45 8.59 14.3 0.76 0.93 1.19 Dec C$208 6.3% DQTransAlta Renewables Inc. RNW T MO2 M/GRW C$14.33 16.50 18.25 10.82 23.1 0.68 0.62 0.81 Dec C$3,812 6.6% DQPipelines & MidstreamAltaGas Ltd. (af) ALA T MP3 H/INC C$14.78 21.00 22.74 8.71 6.2 3.01 2.38 2.24 Dec C$4,161 6.5% CC, DQGibson Energy Inc. (af) GEI T MO2 M/INC C$21.30 24.00 28.34 10.96 11.1 2.10 1.92 2.21 Dec C$3,114 6.4% CCInter Pipeline Ltd. (af) IPL T MP3 H/INC C$12.61 10.00 25.42 5.35 9.4 1.85 1.34 1.14 Dec C$5,369 3.8% CCKeyera Corp. (af) KEY T MO2 M/INC C$21.82 26.00 36.56 10.04 7.1 2.77 3.09 2.61 Dec C$4,781 8.8% CCPembina Pipeline Corporation (af) PPL T MO2 M/INC C$34.40 36.00 53.79 15.27 8.6 4.33 4.02 4.00 Dec C$18,912 7.3% CC

Senior Oil & Gas ProducersCanadian Natural Resources Limited (cb) CNQ T MO2 H/GRW C$25.15 26.00 42.57 9.80 14.6 8.60 1.73 3.64 Dec C$29,723 6.8% CCCenovus Energy Inc. (cb) CVE T MP3 H/GRW C$6.00 4.00 14.31 2.06 NM 3.03 -0.96 -0.35 Dec C$7,373 0.0% CCHusky Energy Inc. (cb) HSE T MU4 H/GRW C$3.88 2.75 13.11 2.21 10.7 3.24 0.36 1.25 Dec C$3,900 1.3% CCImperial Oil Limited (cb) IMO T MP3 H/GRW C$21.51 18.50 37.75 10.27 74.9 4.62 0.29 0.60 Dec C$15,790 4.1% CCOvintiv Inc. (cb) OVV N MP3 H/GRW 7.69 5.50 29.35 2.10 1.2 11.22 6.25 4.64 Dec $1,998 4.9% CC


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Suncor Energy Inc. (cb) SU T MO2 M/GRW C$23.67 28.00 45.12 14.02 13.3 6.93 1.78 3.38 Dec C$36,140 3.5% CC


Financial Services

USABanking ........................................................................................................................ 31Capital Markets .............................................................................................................. 34

Brokerages & Exchanges ............................................................................................... 34Markets Technology & Services ...................................................................................... 34

Insurance ...................................................................................................................... 34Brokerage & Technology ............................................................................................... 34Commercial Lines ........................................................................................................ 35Life/Health ................................................................................................................. 35Personal Lines ............................................................................................................ 35

Specialty Finance ............................................................................................................ 35Business Development Companies .................................................................................. 35Investment Companies ................................................................................................. 36Specialty Consumer Finance .......................................................................................... 36

CANDiversified Financials ....................................................................................................... 37


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Financial Services - USA

Robert Dodd, Ph.D. [email protected] P. Feaster, Jr., CFA [email protected] J. Long, CFA [email protected] O'Shaughnessy, CFA [email protected]. Gregory Peters [email protected]

John W. Ransom [email protected] Rose [email protected] M. Samma [email protected] Tamayo, CFA [email protected] J. Wallace IV [email protected]

Banking1st Constitution Bancorp (ng) FCCY Q MP3 H/GRW 12.84 NM 22.91 9.01 15.2 1.66 0.85 0.40 Dec $131 2.8% WW, ASAlerus Financial Corporation (ng) ALRS Q MO2 M/GRW 18.13 18.00 23.58 15.05 12.5 1.84 1.45 0.35 Dec $310 3.3% WW, ASAllegiance Bancshares, Inc. (q) ABTX Q MP3 M/GRW 25.61 NM 38.95 20.88 11.4 2.57 2.25 0.75 Dec $522 1.6% DFAmalgamated Bank (ng) AMAL Q MO2 H/GRW 11.23 13.00 20.00 7.90 10.2 1.49 1.10 0.50 Dec $357 2.8% WW, ASAmerant Bancorp Inc. (q) AMTB Q MP3 M/GRW 13.04 NM 23.59 10.05 37.3 1.24 0.35 0.10 Dec $550 0.0% MRAmerican National Bankshares Inc. (ng) AMNB Q MO2 M/INC 24.86 27.00 41.50 18.53 9.6 2.83 2.60 1.40 Dec $272 4.3% WW, ASAmeris Bancorp (q) ABCB Q MO2 M/GRW 24.23 25.00 44.90 17.12 10.1 3.80 2.40 1.60 Dec $1,683 2.5% DFAssociated Banc-Corp (ng) ASB N MP3 M/GRW 14.01 NM 22.60 10.23 14.3 1.95 0.98 0.46 Dec $2,153 5.1% DJL, DTAtlantic Capital Bancshares, Inc. (ng) ACBI Q MP3 H/GRW 11.40 NM 20.21 8.89 18.4 1.20 0.62 0.35 Dec $245 0.0% MRAtlantic Union Bankshares Corporation (ng) AUB Q MP3 H/INC 23.15 NM 40.20 18.55 13.6 2.76 1.70 0.50 Dec $1,822 4.3% WW, ASAxos Financial, Inc. (q) AX N SB1 H/GRW 21.80 23.00 30.89 13.69 8.1 2.57 2.70 1.60 Jun $1,301 0.0% DFBanc of California, Inc. (q) BANC N MP3 H/GRW 10.95 NM 19.12 6.44 NM 0.08 -0.15 -0.45 Dec $549 2.2% DFBancorpSouth Bank (q) BXS N MP3 M/GRW 22.23 NM 32.97 17.21 15.9 2.40 1.40 1.38 Dec $2,323 3.3% MRBank of Commerce Holdings (q) BOCH Q MO2 H/GRW 7.63 9.50 12.31 5.68 11.2 0.95 0.68 0.30 Dec $128 2.6% DFBank of Marin Bancorp (q) BMRC Q MP3 M/GRW 33.65 NM 47.77 23.80 15.7 2.44 2.15 1.45 Dec $457 2.7% DFBank OZK (q) OZK Q MP3 M/GRW 22.49 NM 31.76 14.20 12.6 3.30 1.78 1.85 Dec $2,883 4.8% MRBanner Corporation (q) BANR Q MO2 M/GRW 37.56 42.00 60.21 27.12 12.3 4.37 3.05 1.30 Dec $1,321 4.4% DFBOK Financial Corporation (q) BOKF Q MP3 M/GRW 50.94 NM 88.28 34.57 11.6 7.15 4.40 2.35 Dec $3,582 4.0% MRBrookline Bancorp, Inc. (ng) BRKL Q MP3 M/GRW 9.30 NM 16.96 8.13 18.7 1.10 0.50 0.50 Dec $733 4.9% WW, ASBusiness First Bancshares, Inc. (ng) BFST Q MP3 H/GRW 14.49 NM 26.64 9.17 8.0 1.78 1.80 1.15 Dec $300 2.8% WW, ASCadence Bancorporation (q) CADE N MP3 M/GRW 8.07 NM 21.21 4.63 6.8 1.73 1.18 0.65 Dec $1,016 2.5% MRCamden National Corporation (ng) CAC Q MP3 M/GRW 33.54 NM 48.48 25.73 9.6 3.65 3.50 2.45 Dec $501 3.9% WW, ASCapStar Financial Holdings, Inc. (ng) CSTR Q MO2 M/GRW 11.52 12.00 17.48 7.44 10.9 1.34 1.05 1.00 Dec $211 1.7% WW, ASCarter Bank & Trust (ng) CARE Q MO2 H/GRW 7.06 10.00 24.25 6.44 46.1 0.86 0.15 -0.30 Dec $186 5.7% WW, ASCenterState Bank Corporation (q) CSFL Q MO2 H/GRW 15.80 19.00 26.79 12.10 11.3 2.13 1.40 0.85 Dec $1,961 3.5% MRCentral Pacific Financial Corp. (q) CPF N MP3 H/GRW 16.11 NM 30.56 12.40 10.9 1.96 1.48 0.65 Dec $453 5.7% DFCentral Valley Community Bancorp (q) CVCY Q MP3 H/GRW 15.06 NM 22.15 10.59 11.2 1.59 1.34 0.75 Dec $188 2.9% DFColumbia Banking System, Inc. (q) COLB Q MP3 M/GRW 24.36 NM 41.40 19.11 13.5 2.57 1.80 1.30 Dec $1,743 4.6% DFComerica Inc. (q) CMA N MP3 M/GRW 36.35 NM 74.11 24.28 36.4 7.73 1.00 2.90 Dec $5,054 7.5% MRCommerce Bancshares, Inc. (ng) CBSH Q MP3 M/GRW 63.73 NM 71.92 45.51 23.6 3.58 2.70 2.65 Dec $7,108 1.7% DJL, DTCommunity Bank System, Inc. (ng) CBU N MP3 M/INC 59.42 NM 72.63 47.01 22.9 3.24 2.60 1.85 Dec $3,095 2.8% WW, ASCommunity Trust Bancorp, Inc. (ng) CTBI Q MP3 M/GRW 32.84 NM 47.54 26.45 16.8 3.49 1.96 2.21 Dec $584 4.6% DT, DJLConnectOne Bancorp, Inc. (ng) CNOB Q SB1 H/GRW 14.66 21.00 26.50 8.86 7.7 2.29 1.90 0.95 Dec $582 2.5% WW, ASCrossFirst Bankshares, Inc. (q) CFB Q MP3 M/GRW 9.73 NM 15.50 5.66 19.5 0.53 0.50 0.38 Dec $507 0.0% MRCullen/Frost Bankers, Inc. (q) CFR N MU4 M/GRW 75.97 NM 100.79 47.69 12.9 6.84 5.90 3.25 Dec $4,752 3.7% MRCVB Financial Corp. (q) CVBF Q MP3 M/GRW 19.51 NM 22.23 14.91 15.6 1.46 1.25 0.75 Dec $2,644 3.7% DFDime Community Bancshares, Inc. (ng) DCOM Q MO2 M/GRW 14.43 18.00 22.50 11.43 12.5 1.09 1.15 0.75 Dec $481 3.9% WW, AS


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Enterprise Financial Services Corp. (ng) EFSC Q MO2 M/GRW 29.37 33.00 48.81 21.70 8.9 4.09 3.32 2.19 Dec $768 2.5% DJL, DTF.N.B. Corporation (ng) FNB N MO2 M/INC 7.41 9.00 12.93 5.05 9.7 1.18 0.76 0.23 Dec $2,394 6.5% WW, ASFarmers National Banc Corp. (ng) FMNB Q MP3 H/GRW 11.75 NM 16.50 9.82 11.7 1.29 1.01 0.88 Dec $331 3.7% DT, DJLFB Financial Corporation (ng) FBK N MP3 H/GRW 23.61 NM 40.33 14.38 18.2 2.78 1.30 1.20 Dec $757 1.5% WW, ASFirst Bancorp (ng) FBNC Q MP3 H/GRW 25.42 NM 41.34 17.32 21.3 3.11 1.20 0.50 Dec $738 2.8% WW, ASFirst Busey Corporation (ng) BUSE Q MP3 H/GRW 17.91 NM 28.00 11.00 12.1 2.13 1.47 0.92 Dec $974 4.9% DJL, DTFirst Business Financial Services, Inc. (ng) FBIZ Q MP3 M/GRW 16.55 NM 27.35 12.86 9.3 2.68 1.79 1.18 Dec $141 4.0% DT, DJLFirst Commonwealth Financial Corp. (ng) FCF N MP3 H/GRW 8.18 NM 14.93 6.77 11.7 1.10 0.70 0.60 Dec $803 5.4% WW, ASFirst Community Corporation (ng) FCCO Q MP3 H/GRW 14.80 NM 22.00 12.60 19.7 1.46 0.75 0.65 Dec $110 3.2% WW, ASFirst Defiance Financial Corp. (ng) FDEF Q MP3 H/GRW 16.61 NM 32.39 10.98 10.0 2.53 1.66 1.39 Dec $923 5.3% DJL, DTFirst Financial Bancorp. (ng) FFBC Q MP3 H/GRW 13.29 NM 26.19 10.83 9.2 2.14 1.45 0.96 Dec $1,302 6.9% DJL, DTFirst Financial Corporation (ng) THFF Q MP3 M/INC 35.10 NM 46.93 27.62 11.3 3.80 3.10 1.89 Dec $481 3.0% DJL, DTFirst Foundation Inc. (q) FFWM Q MO2 H/GRW 14.90 13.00 17.64 8.01 9.6 1.25 1.55 1.15 Dec $665 1.9% DFFirst Horizon National Corporation (q) FHN N MO2 M/INC 9.35 10.00 17.42 6.27 23.4 1.66 0.40 1.10 Dec $2,916 6.4% MRFirst Merchants Corporation (ng) FRME Q MO2 M/GRW 28.06 29.00 42.48 21.18 13.5 3.39 2.08 1.31 Dec $1,519 3.7% DT, DJLFirst Mid Bancshares, Inc. (ng) FMBH Q SB1 M/GRW 25.45 33.00 36.25 18.60 13.4 2.87 1.90 1.95 Dec $425 3.1% DT, DJLFirst Midwest Bancorp, Inc. (ng) FMBI Q MP3 M/GRW 13.05 NM 23.64 10.31 15.0 1.99 0.87 0.40 Dec $1,491 4.3% DT, DJLFirst Republic Bank (ng) FRC N MP3 M/GRW 108.17 NM 122.34 70.06 22.2 5.20 4.87 5.14 Dec $18,548 0.7% DJL, DTFlagstar Bancorp, Inc. (ng) FBC N MO2 M/GRW 29.30 31.00 40.00 16.76 11.5 3.48 2.55 0.68 Dec $1,662 0.7% DT, DJLFS Bancorp, Inc. (q) FSBW Q MP3 H/GRW 42.24 NM 64.41 27.50 7.8 5.32 5.45 2.00 Dec $181 2.0% DFFulton Financial Corporation (ng) FULT Q MP3 M/GRW 11.21 NM 18.00 8.91 17.6 1.35 0.64 0.52 Dec $1,814 4.6% DT, DJLFVCBankcorp, Inc. (ng) FVCB Q MP3 H/GRW 11.13 NM 19.64 9.27 11.1 1.07 1.00 0.30 Dec $150 0.0% WW, ASGerman American Bancorp, Inc. (ng) GABC Q MP3 M/GRW 30.98 NM 36.17 23.54 14.5 2.37 2.14 1.65 Dec $821 2.5% DJL, DTGlacier Bancorp, Inc. (q) GBCI Q MP3 M/GRW 41.19 NM 46.51 26.66 15.5 2.63 2.65 1.70 Dec $3,930 2.8% DFGreat Western Bancorp, Inc. (ng) GWB N MP3 M/GRW 14.24 NM 36.65 10.86 11.9 2.92 1.20 0.34 Sep $783 4.2% DJL, DTGuaranty Federal Bancshares, Inc. (ng) GFED Q MO2 M/GRW 13.85 16.00 26.93 12.70 16.3 2.12 0.85 0.43 Dec $60 4.3% DT, DJLHancock Whitney Corporation (q) HWC Q MP3 M/GRW 21.62 NM 44.42 14.32 13.0 4.01 1.66 1.75 Dec $1,865 5.0% MRHanmi Financial Corporation (q) HAFC Q MP3 H/GRW 9.03 NM 22.60 7.15 15.0 1.13 0.60 -1.15 Dec $276 5.3% DFHBT Financial, Inc. (ng) HBT Q MO2 H/GRW 12.72 13.50 20.71 9.11 11.6 3.47 1.09 0.84 Dec $575 4.7% DT, DJLHeartland Financial USA, Inc. (ng) HTLF Q MP3 H/GRW 32.01 NM 51.85 25.26 12.4 4.28 2.58 1.55 Dec $1,178 2.5% DJL, DTHeritage Commerce Corp (q) HTBK Q MO2 H/GRW 8.13 9.00 13.14 6.04 10.8 1.03 0.75 0.40 Dec $486 6.4% DFHeritage Financial Corporation (q) HFWA Q MP3 H/GRW 19.00 NM 30.15 14.65 10.3 1.82 1.85 0.30 Dec $688 4.2% DFHilltop Holdings Inc. (q) HTH N MO2 M/GRW 18.69 23.00 26.28 11.05 8.9 2.35 2.10 1.15 Dec $1,686 1.9% MRHome Bancorp, Inc. (ng) HBCP Q MO2 H/GRW 23.76 30.00 40.80 18.57 9.0 3.00 2.65 1.10 Dec $214 3.7% WW, ASHome BancShares, Inc. (q) HOMB Q MO2 M/GRW 14.47 14.00 21.04 9.71 20.1 1.70 0.72 0.80 Dec $2,390 3.6% MRHope Bancorp, Inc. (q) HOPE Q MP3 H/GRW 9.49 NM 15.51 7.06 11.2 1.35 0.85 -0.15 Dec $1,170 5.9% DFHorizon Bancorp, Inc. (ng) HBNC Q MO2 H/GRW 10.26 14.50 19.48 7.42 8.5 1.63 1.21 0.58 Dec $449 4.7% DJL, DTHoward Bancorp, Inc. (ng) HBMD Q MP3 M/GRW 10.31 NM 19.20 8.44 22.9 1.02 0.45 0.20 Dec $193 0.0% WW, ASHuntington Bancshares Incorporated (ng) HBAN Q MO2 M/GRW 8.89 10.00 15.63 6.82 15.5 1.25 0.57 0.38 Dec $9,016 6.7% DJL, DTIBERIABANK Corporation (q) IBKC Q MO2 M/GRW 42.41 80.00 79.68 25.65 6.0 7.04E 6.60 7.25 Dec $2,233 4.4% MRIndependent Bank Group, Inc. (q) IBTX Q MO2 M/GRW 37.88 41.00 63.16 20.35 8.0 5.09 4.75 3.55 Dec $1,630 2.6% MRInvestar Holding Corporation (ng) ISTR Q MO2 M/GRW 13.05 13.00 26.46 8.49 11.8 1.80 1.10 0.20 Dec $143 1.8% WW, ASLakeland Bancorp, Inc. (ng) LBAI Q MP3 M/GRW 11.10 NM 17.63 8.31 11.1 1.43 1.00 0.55 Dec $560 4.5% WW, ASLakeland Financial Corporation (ng) LKFN Q MP3 M/GRW 42.69 NM 50.00 30.49 14.7 3.38 2.90 2.30 Dec $1,097 2.8% DJL, DT


52 Week EPS

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Level One Bancorp, Inc. (ng) LEVL Q MO2 H/GRW 18.81 23.00 26.69 13.45 8.7 2.11 2.15 1.65 Dec $145 1.1% DJL, DTLimestone Bancorp, Inc. (ng) LMST Q MP3 H/GRW 11.38 NM 18.49 6.83 41.5 1.49 0.27 0.09 Dec $85 0.0% DT, DJLMercantile Bank Corporation (ng) MBWM Q MP3 M/GRW 22.94 NM 37.32 18.64 12.3 2.97 1.86 0.48 Dec $372 4.9% DJL, DTMerchants Bancorp (ng) MBIN Q MO2 H/GRW 17.08 17.00 21.90 12.37 6.5 2.37 2.62 1.88 Dec $491 1.9% DT, DJLMeridian Bancorp, Inc. (ng) EBSB Q MO2 M/GRW 11.52 15.00 20.86 8.88 10.1 1.27 1.15 0.50 Dec $604 2.8% WW, ASMeta Financial Group, Inc. (ng) CASH Q SB1 H/GRW 18.12 25.00 40.00 13.09 9.3 2.72 1.95 1.45 Sep $627 1.1% WW, ASMetroCity Bankshares, Inc. (q) MCBS Q MP3 H/GRW 11.56 NM 19.07 8.31 9.2 1.81 1.25 1.00 Dec $295 3.8% DFNew York Community Bancorp, Inc. (ng) NYCB N MP3 M/INC 10.05 NM 13.79 8.19 13.6 0.77 0.74 0.82 Dec $4,663 6.8% WW, ASNorthwest Bancshares, Inc. (ng) NWBI Q MP3 M/GRW 9.96 NM 17.74 8.52 23.0 1.07 0.43 0.52 Dec $1,271 7.6% DT, DJLOceanFirst Financial Corp. (ng) OCFC Q SB1 M/GRW 16.70 21.00 26.09 11.60 9.9 2.06 1.68 1.30 Dec $1,012 4.1% WW, ASOld National Bancorp (ng) ONB Q MP3 M/GRW 13.59 NM 18.74 11.19 11.7 1.44 1.16 0.89 Dec $2,244 4.1% DJL, DTOld Second Bancorp, Inc. (ng) OSBC Q MO2 M/GRW 7.70 9.50 13.77 5.96 19.4 1.30 0.40 0.25 Dec $229 0.5% DJL, DTOrigin Bancorp, Inc. (ng) OBNK Q MO2 H/GRW 20.86 25.00 38.14 15.98 18.2 2.28 1.15 0.45 Dec $490 1.8% WW, ASPacific Premier Bancorp, Inc. (q) PPBI Q MO2 H/GRW 21.62 25.00 34.90 13.93 10.5 2.64 2.05 1.70 Dec $1,297 4.6% DFPacWest Bancorp (ng) PACW Q MP3 M/GRW 17.31 NM 40.14 13.84 13.6 3.89 1.27 1.32 Dec $2,016 5.8% DJL, DTPCB Bancorp (q) PCB Q MO2 H/GRW 9.02 11.00 17.75 7.31 12.0 1.49 0.75 -0.20 Dec $139 4.4% DFPeople's United Financial, Inc. (ng) PBCT Q MP3 M/GRW 11.45 NM 17.22 9.37 9.2 1.39 1.25 0.65 Dec $4,862 6.3% WW, ASPeople's Utah Bancorp (q) PUB Q MP3 H/GRW 24.77 NM 31.34 13.55 11.4 2.36 2.18 1.20 Dec $465 2.3% DFPeoples Bancorp Inc. (ng) PEBO Q MP3 H/GRW 22.47 NM 39.28 17.91 17.2 2.92 1.31 1.09 Dec $450 6.1% DJL, DTPinnacle Financial Partners, Inc. (q) PNFP Q MP3 M/GRW 39.85 NM 65.00 27.80 11.4 5.22 3.50 3.05 Dec $3,023 1.6% MRPreferred Bank (q) PFBC Q MP3 H/GRW 37.57 NM 64.50 20.04 10.0 5.15 3.75 1.50 Dec $561 3.2% DFProsperity Bancshares, Inc. (q) PB N MO2 M/GRW 65.39 70.00 75.22 42.02 11.3 5.02 5.80 4.00 Dec $6,059 2.8% MRQCR Holdings, Inc. (ng) QCRH Q MO2 H/GRW 30.37 38.00 44.76 22.39 11.1 3.50 2.75 1.70 Dec $479 0.8% DJL, DTRegions Financial Corporation (q) RF N MP3 M/GRW 11.31 NM 17.54 6.94 15.3 1.50 0.74 0.88 Dec $10,854 5.5% MRRenasant Corporation (q) RNST Q MP3 M/GRW 24.12 NM 36.94 18.22 12.7 2.88 1.90 1.30 Dec $1,355 3.6% MRRiverview Bancorp, Inc. (q) RVSB Q MO2 H/GRW 5.00 5.50 8.70 4.05 9.1 0.75 0.70A 0.55 Mar $113 4.0% DFS&T Bancorp, Inc. (ng) STBA Q MP3 H/GRW 22.24 NM 41.53 18.97 10.3 3.10 2.15 1.90 Dec $873 5.0% WW, ASSeacoast Banking Corporation of Florida (q) SBCF Q MO2 M/GRW 21.75 27.00 31.42 13.30 15.5 1.95 1.40 0.70 Dec $1,146 0.0% DFServisFirst Bancshares, Inc. (ng) SFBS Q MP3 M/GRW 34.88 NM 40.90 21.76 12.5 2.76 2.80 1.90 Dec $1,878 2.0% WW, ASSierra Bancorp (q) BSRR Q MO2 H/GRW 18.84 20.00 30.15 13.05 12.2 2.31 1.55 1.00 Dec $286 4.2% DFSignature Bank (ng) SBNY Q SB1 M/GRW 102.91 120.00 148.64 68.98 12.5 10.90 8.20 5.60 Dec $8,034 2.2% DJL, DTSimmons First National Corporation (q) SFNC Q MP3 M/GRW 17.15 NM 27.29 13.75 8.8 2.48 1.95 0.80 Dec $1,869 4.0% DFSmartFinancial, Inc. (ng) SMBK Q MP3 M/GRW 15.40 NM 23.99 11.05 10.2 1.68 1.50 0.85 Dec $234 1.3% WW, ASStock Yards Bancorp, Inc. (ng) SYBT Q MO2 M/GRW 34.03 42.00 42.60 22.98 12.8 2.89 2.66 2.07 Dec $771 3.2% DJL, DTSVB Financial Group (ng) SIVB Q MP3 M/GRW 214.75 NM 270.95 127.39 15.8 21.86 13.59 12.36 Dec $14,068 0.0% DJL, DTSynovus Financial Corp. (q) SNV N MO2 M/GRW 19.19 21.00 40.32 10.91 13.7 3.90 1.40 1.30 Dec $2,826 6.9% MRTCF Financial Corporation (ng) TCF Q SB1 M/GRW 28.92 35.00 47.46 16.96 12.2 4.05 2.37 1.87 Dec $4,399 4.8% DJL, DTTexas Capital Bancshares, Inc. (q) TCBI Q MP3 M/GRW 26.76 NM 64.88 19.10 20.3 6.10 1.32 1.80 Dec $1,350 0.0% MRThe Bancorp, Inc. (ng) TBBK Q SB1 H/SPEC 8.80 10.00 13.73 3.36 7.7 1.06 1.15 1.30 Dec $505 0.0% WW, ASThe Bank of N.T. Butterfield & Son (q) NTB N MO2 H/GRW 24.43 24.00 38.05 13.76 10.0 3.67 2.45 1.80 Dec $1,295 7.2% DFThe First of Long Island Corporation (ng) FLIC Q MP3 M/INC 15.27 NM 25.53 12.15 10.5 1.77 1.45 1.10 Dec $364 4.7% WW, ASThe PNC Financial Services Group, Inc. (q) PNC N MP3 M/GRW 114.04 NM 161.79 79.41 21.9 11.46 5.20 6.00 Dec $48,383 4.0% MRTowneBank (ng) TOWN Q MP3 M/GRW 18.86 NM 29.02 15.03 14.0 1.91 1.35 0.30 Dec $1,370 3.8% WW, ASTriCo Bancshares (q) TCBK Q MO2 H/GRW 28.37 35.00 41.42 23.05 11.6 2.98 2.45 1.55 Dec $843 3.1% DF


52 Week EPS

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TriState Capital Holdings, Inc. (ng) TSC Q MO2 H/GRW 14.95 15.00 26.43 7.59 11.9 1.89 1.26 1.48 Dec $446 0.0% DT, DJLTruist Financial Corporation (q) TFC N MP3 M/INC 36.78 NM 56.92 24.01 10.7 4.03 3.45 3.10 Dec $49,560 4.9% MRTrustmark Corporation (q) TRMK Q MU4 M/INC 23.79 NM 36.04 20.26 11.2 2.30 2.12 1.00 Dec $1,509 3.9% MRU.S. Bancorp (ng) USB N MP3 M/GRW 35.56 NM 61.11 28.36 15.9 4.16 2.23 1.52 Dec $53,564 4.7% DJL, DTUMB Financial Corporation (ng) UMBF Q MO2 M/GRW 51.28 65.00 70.26 39.47 17.1 4.96 3.00 3.16 Dec $2,469 2.4% DJL, DTUnited Bankshares, Inc. (ng) UBSI Q MP3 M/INC 29.08 NM 40.70 19.67 13.5 2.58 2.15 1.60 Dec $3,774 4.8% WW, ASUnited Community Banks, Inc. (q) UCBI Q MP3 M/GRW 19.55 NM 31.66 14.95 12.2 2.38 1.60 1.55 Dec $1,555 3.7% MRUnivest Financial Corporation (ng) UVSP Q MO2 M/GRW 16.44 18.00 27.80 13.20 11.8 2.27 1.40 0.55 Dec $480 4.9% WW, ASVeritex Holdings, Inc. (q) VBTX Q MO2 M/GRW 17.52 22.00 29.41 10.02 10.0 2.27 1.75 1.20 Dec $883 3.9% MRWebster Financial Corporation (ng) WBS N SB1 H/GRW 28.30 34.00 54.04 18.16 12.9 4.06 2.20 1.65 Dec $2,552 5.7% WW, ASWells Fargo & Company (ng) WFC N MU4 M/GRW 26.47 NM 54.75 22.00 NM 4.05 0.22 0.34 Dec $108,527 7.7% DJL, DTWesBanco, Inc. (ng) WSBC Q MP3 H/GRW 21.42 NM 39.33 17.46 11.3 3.01 1.90 1.10 Dec $1,436 6.0% WW, ASWintrust Financial Corporation (ng) WTFC Q SB1 M/GRW 42.36 50.00 74.46 22.02 9.1 6.03 4.68 1.35 Dec $2,439 2.6% DJL, DTZions Bancorporation (ng) ZION Q SB1 M/GRW 32.91 38.00 52.48 23.58 16.6 4.31 1.98 1.12 Dec $5,392 4.1% DJL, DT

Capital MarketsBrokerages & ExchangesBGC Partners, Inc. (ng) BGCP Q MP3 H/SPEC 2.58 NM 6.14 2.07 4.3 0.61 0.60 0.60 Dec $921 1.6% POCboe Global Markets, Inc. (ng) CBOE B MP3 M/GRW 106.46 NM 127.93 72.01 20.1 4.73 5.30 5.30 Dec $11,681 1.4% POCBRE Group, Inc. (ng) CBRE N MO2 M/GRW 43.98 57.00 64.75 29.17 15.6 3.71 2.82 4.10 Dec $14,741 0.0% POCME Group Inc. (ng) CME Q MO2 M/GRW 182.60 196.00 225.36 131.80 24.0 6.80 7.60 7.65 Dec $65,479 1.9% POE*TRADE Financial Corporation (ng) ETFC Q MP3 M/GRW 45.54 NM 57.30 25.76 16.9 3.85 2.70 2.50 Dec $10,067 1.2% POIntercontinental Exchange, Inc. (ng) ICE N MO2 M/GRW 97.25 100.00 101.93 63.51 22.0 3.88 4.41 4.55 Dec $53,217 1.2% POJones Lang LaSalle Incorporated (ng) JLL N MO2 M/GRW 102.40 172.00 178.55 78.29 10.7 14.09 9.60 13.30 Dec $5,287 0.8% POMarketAxess Holdings Inc. (g) MKTX Q MO2 M/GRW 508.59 492.00 517.93 275.50 72.1 5.40 7.05 7.65 Dec $19,281 0.5% PONasdaq, Inc. (ng) NDAQ Q MO2 M/GRW 118.46 117.00 120.23 71.66 21.2 5.00 5.57 5.75 Dec $19,436 1.7% PONewmark Group, Inc. (ng) NMRK Q MO2 H/GRW 4.25 14.00 13.85 2.49 2.7 1.62 1.56 1.60 Dec $757 0.9% POTD Ameritrade Holding Corporation (ng) AMTD Q MP3 M/GRW 37.27 NM 53.99 27.70 12.9 4.13 2.89 2.20 Sep $20,160 3.3% POThe Charles Schwab Corporation (g) SCHW N MP3 M/GRW 35.91 NM 51.65 28.00 19.3 2.67 1.87 1.90 Dec $46,231 2.0% POTradeweb Markets Inc. (ng) TW Q MP3 M/GRW 65.96 NM 66.37 33.23 52.8 1.00 1.25 1.30 Dec $15,770 0.5% POMarkets Technology & ServicesAssetMark Financial Holdings, Inc. (ng) AMK N MO2 H/GRW 26.70 27.00 34.02 13.94 28.8 0.96 0.93 0.98 Dec $1,933 0.0% POBroadridge Financial Solutions, Inc. (ng) BR N MO2 M/GRW 121.10 126.00 136.99 81.90 24.3 4.66 4.98 5.25 Jun $13,905 1.8% POEnvestnet, Inc. (ng) ENV N SB1 H/GRW 72.61 80.00 87.75 45.53 35.3 2.15 2.06 2.25 Dec $3,885 0.0% POFactSet Research Systems Inc. (ng) FDS N MU4 M/GRW 307.51 NM 310.25 195.22 30.9 10.00 9.95 10.20 Aug $11,645 1.0% POFocus Financial Partners Inc. (ng) FOCS Q MO2 M/GRW 27.84 33.00 34.96 12.17 9.7 2.38 2.86 3.05 Dec $1,331 0.0% POMoody's Corporation (ng) MCO N MP3 M/GRW 267.41 NM 287.25 164.19 32.1 8.29 8.32 9.45 Dec $50,139 0.8% POMSCI Inc. (ng) MSCI N MP3 M/GRW 328.85 NM 356.66 206.82 46.5 6.44 7.07 7.80 Dec $27,492 0.8% POS&P Global Inc. (ng) SPGI N MP3 M/GRW 325.02 NM 326.00 186.06 33.0 9.30 9.85 10.40 Dec $78,297 0.8% POSEI Investments Company (ng) SEIC Q MP3 M/GRW 54.22 NM 69.61 35.41 19.3 3.24 2.81 3.20 Dec $8,021 1.3% POSS&C Technologies Holdings, Inc. (ng) SSNC Q SB1 H/GRW 57.90 63.00 66.74 29.51 14.9 3.83 3.89 4.10 Dec $14,835 0.9% PO

InsuranceBrokerage & TechnologyAon plc (ng) AON N MP3 H/GRW 196.95 NM 238.19 143.93 19.9 9.16 9.90 10.70 Dec $45,511 0.9% CGP


52 Week EPS

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Arthur J. Gallagher & Co. (ng) AJG N SB1 M/INC 94.28 85.00 109.46 65.09 24.8 3.66 3.80 4.00 Dec $17,877 1.9% CGPBenefytt Technologies, Inc. (ng) BFYT Q MP3 H/SPEC 19.63 NM 35.00 15.60 6.5 4.24 3.00 4.00 Dec $280 0.0% CGPBrown & Brown, Inc. (ng) BRO N MO2 H/GRW 40.20 40.00 48.69 30.70 29.8 1.40 1.35 1.40 Dec $11,393 0.8% CGPBRP Group, Inc. (ng) BRP Q MO2 H/GRW 12.40 15.00 18.50 8.35 30.9 0.27 0.40 0.55 Dec $248 0.0% CGPCrawford & Company (ng) CRD.B N MP3 H/GRW 5.74 NM 10.79 4.95 10.4 0.65 0.55 0.60 Dec $304 2.1% CGPHealthEquity, Inc. (g) HQY Q SB1 H/GRW 61.97 75.00 88.78 34.40 NM 1.17 0.55A -0.12 Jan $4,425 0.0% CGPMarsh & McLennan Companies, Inc. (ng) MMC N MO2 M/GRW 105.92 105.00 119.88 74.33 22.8 4.65 4.65 5.00 Dec $53,608 1.7% CGPVerisk Analytics, Inc. (ng) VRSK Q MP3 H/GRW 172.68 NM 173.33 116.61 37.1 4.38 4.65 5.05 Dec $28,019 0.6% CGPWillis Towers Watson Public Ltd Company (ng) WLTW Q MO2 H/GRW 202.90 200.00 220.97 143.34 18.1 10.98 11.20 11.90 Dec $26,125 1.3% CGPCommercial LinesAmerican Financial Group, Inc. (ng) AFG N MU4 H/GRW 60.24 NM 115.03 44.01 8.4 8.62 7.15 7.70 Dec $5,412 3.0% CGPArgo Group International Holdings, Ltd. (ng) ARGO N SB1 H/GRW 30.69 45.00 76.47 25.00 19.1 -0.90 1.60 3.70 Dec $1,063 4.0% CGPChubb Limited (ng) CB N MO2 M/INC 121.94 130.00 167.74 87.35 12.5 10.11 9.75 10.50 Dec $55,039 2.6% CGPConifer Holdings, Inc. (ng) CNFR Q MP3 H/GRW 2.52 NM 4.60 2.00 NM -1.69 -0.35 0.15 Dec $24 0.0% CGPHallmark Financial Services, Inc. (ng) HALL Q MP3 H/GRW 2.33 NM 20.30 2.32 NM -0.96E 0.40 0.60 Dec $42 0.0% CGPOld Republic International Corporation (ng) ORI N SB1 M/INC 15.59 21.00 24.10 11.88 12.5 1.82 1.25 1.25 Dec $4,739 5.4% CGPProAssurance Corporation (ng) PRA N MP3 H/GRW 13.80 NM 42.03 12.67 NM -0.81 -0.65 0.20 Dec $743 1.4% CGPThe Travelers Companies, Inc. (ng) TRV N MU4 M/INC 106.98 NM 155.09 76.99 12.1 9.60 8.85 10.00 Dec $27,049 3.2% CGPLife/HealthAflac Incorporated (ng) AFL N MO2 M/GRW 36.47 50.00 57.18 23.07 8.7 4.42 4.20 4.45 Dec $26,168 3.1% CGPAmerican Equity Investment Life Holding (ng) AEL N MO2 H/GRW 21.69 29.00 34.16 9.07 4.8 5.97 4.50 4.55 Dec $1,985 1.4% CGPeHealth, Inc. (ar) EHTH Q MO2 H/GRW 130.42 165.00 152.19 52.71 35.2 4.13 3.70 4.75 Dec $3,340 0.0% CGP, JWRFBL Financial Group, Inc. (ng) FFG N MP3 M/INC 35.71 NM 65.94 29.01 8.3 4.75 4.30 4.45 Dec $880 5.6% CGPPersonal LinesFedNat Holding Company (ng) FNHC Q SB1 H/GRW 12.19 14.00 16.87 10.07 8.1 -0.03 1.50 2.20 Dec $167 3.0% CGPKemper Corporation (ng) KMPR N SB1 M/INC 63.40 80.00 91.40 53.81 10.5 6.27 6.05 5.75 Dec $4,137 1.9% CGPMercury General Corporation (ng) MCY N MU4 H/INC 40.23 NM 65.22 33.45 16.8 2.60 2.40 3.15 Dec $2,227 6.3% CGPThe Allstate Corporation (ng) ALL N SB1 M/GRW 97.81 120.00 125.92 64.13 9.8 10.43 9.95 10.65 Dec $30,724 2.2% CGPThe Progressive Corporation (ng) PGR N SB1 H/GRW 77.68 95.00 84.96 62.18 12.8 5.36 6.05 5.30 Dec $45,466 0.5% CGPUnited Insurance Holdings Corp. (ng) UIHC Q MO2 H/GRW 7.84 10.50 14.96 6.99 10.4 -1.08 0.75 0.95 Dec $337 3.1% CGP

Specialty FinanceBusiness Development CompaniesApollo Investment Corporation (cn) AINV Q MP3 H/INC 10.10 NM 18.33 5.20 5.4 1.81 2.16A 1.87 Mar $659 17.8% RDAres Capital Corporation (cn) ARCC Q MO2 H/INC 14.75 14.00 19.33 7.90 9.6 1.89 1.54 1.70 Dec $6,234 10.8% RDBarings BDC, Inc. (cn) BBDC N MO2 H/INC 7.76 9.50 10.59 4.67 13.5 0.61 0.57 0.69 Dec $372 8.2% RDBlackRock TCP Capital Corp. (cn) TCPC Q MO2 H/INC 10.20 10.00 14.79 4.02 8.0 1.61 1.27 1.32 Dec $589 14.1% RDCapital Southwest Corporation (cn) CSWC Q MO2 H/INC 13.98 13.50 22.90 7.39 8.6 1.48 1.63 1.30 Mar $260 11.7% RDCrescent Capital BDC, Inc. (cn) CCAP Q MO2 H/INC 12.27 13.50 17.99 6.21 6.6 1.83 1.87 1.90 Dec $346 13.4% RDFidus Investment Corporation (cn) FDUS Q MO2 H/INC 9.54 11.00 16.44 4.45 7.8 1.44 1.22 1.25 Dec $233 12.6% RDFS KKR Capital Corp. (cn) FSK N MP3 H/INC 3.71 NM 6.38 1.90 5.4 0.80 0.69 0.70 Dec $1,837 16.2% RDGoldman Sachs BDC, Inc. (cn) GSBD N MP3 H/INC 16.80 NM 22.50 8.00 9.1 2.02 1.85 1.87 Dec $679 10.7% RDGolub Capital BDC, Inc. (cn) GBDC Q MP3 H/INC 12.14 NM 18.85 8.94 9.9 1.27 1.23 1.09 Sep $1,624 10.7% RDInvestcorp Credit Management BDC, Inc. (cn) ICMB Q MO2 H/INC 4.04 6.50 7.70 1.38 4.1 1.00 0.99 0.86 Jun $56 14.9% RD


52 Week EPS

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Main Street Capital Corporation (cn) MAIN N MP3 H/INC 31.20 NM 45.10 14.11 14.8 2.66 2.11 2.56 Dec $2,024 7.9% RDMonroe Capital Corp. (cn) MRCC Q MP3 H/INC 7.77 NM 12.10 3.56 6.5 1.42 1.19 1.08 Dec $159 12.9% RDNewtek Business Services Corp. (cn) NEWT Q MP3 H/SPEC 17.16 NM 23.99 7.59 7.0 2.33 2.47 2.28 Dec $359 10.3% RDOwl Rock Capital Corporation (cn) ORCC N MO2 H/INC 12.34 13.50 19.19 8.09 8.9 1.54 1.38 1.34 Dec $4,736 10.0% RDPennantPark Investment Corporation (cn) PNNT Q MO2 H/INC 3.28 5.00 6.86 1.76 5.4 0.72 0.61 0.56 Sep $220 22.0% RDProspect Capital Corporation (cn) PSEC Q MU4 H/INC 5.07 NM 6.76 3.67 7.0 0.85 0.72 0.70 Jun $1,873 14.2% RDSolar Capital Ltd. (cn) SLRC Q MO2 H/INC 16.82 19.00 21.24 7.42 11.5 1.71 1.46 1.79 Dec $711 9.8% RDStellus Capital Investment Corporation (cn) SCM N MO2 H/INC 8.05 11.00 15.04 4.10 7.9 1.32 1.02 1.01 Dec $157 16.9% RDTHL Credit, Inc. (cn) TCRD Q MP3 H/INC 3.05 NM 7.04 1.56 8.3 0.89 0.37 0.45 Dec $108 13.1% RDTPG Specialty Lending, Inc. (cn) TSLX N MO2 H/INC 18.40 16.50 23.67 11.25 9.7 2.00 1.89 2.04 Dec $1,234 8.9% RDWhiteHorse Finance, Inc. (cn) WHF Q MO2 H/INC 9.76 12.00 14.65 5.51 9.1 1.51 1.07 1.54 Dec $201 14.5% RDInvestment CompaniesCompass Diversified Holdings (ca) CODI N MP3 H/INC 16.97 NM 26.37 10.78 16.1 1.74 1.05 1.16 Dec $1,101 8.5% RDFortress Transportation & Infrastructure (g) FTAI N MO2 H/INC 11.25 16.00 21.73 3.69 NM 2.64 0.02 2.22 Dec $957 11.7% RDSpecialty Consumer FinanceEncore Capital Group Inc. (ng) ECPG Q MP3 H/GRW 31.77 NM 40.16 15.27 3.7 5.94 8.55 11.20 Dec $992 0.0% RDPRA Group, Inc. (ng) PRAA Q MP3 H/GRW 34.12 NM 39.58 19.40 13.9 1.89 2.45 2.52 Dec $1,554 0.0% RD


52 Week EPS

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Stephen Boland, CFA [email protected] Diversified Financialsgoeasy Ltd. GSY T MO2 H/GRW C$53.96 56.25 80.61 21.08 8.9 5.17 6.03 8.03 Dec C$773 3.3% SBIntact Financial Corporation IFC T MO2 M/INC C$131.44 148.00 157.65 104.81 17.5 6.14 7.49 8.32 Dec C$18,799 2.5% SBTrisura Group Ltd. (bv) TSU T MO2 H/GRW C$52.00 57.00 54.50 26.52 2.0 21.58 26.36 29.77 Dec C$534 0.0% SB


Healthcare

USAAlternate Site Healthcare Providers .................................................................................... 39Animal Health ................................................................................................................ 39Biotechnology ................................................................................................................ 39Death Care .................................................................................................................... 40Diagnostics & Clinical Laboratories ..................................................................................... 40Healthcare Information Technology ................................................................................... 40Healthcare Supply Chain Services ...................................................................................... 40Hospitals ....................................................................................................................... 40Hospital Supplies & Equipment ......................................................................................... 40Integrated Benefits Management ....................................................................................... 41Medical Devices .............................................................................................................. 41Specialty Pharmaceuticals ................................................................................................ 41

CANBiotechnology ................................................................................................................ 43Cannabis ....................................................................................................................... 43Pharmaceuticals ............................................................................................................. 43


52 Week EPS

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Jayson Bedford [email protected] Cooper [email protected] Keusch [email protected] Leone, CFA [email protected]

John W. Ransom [email protected] Seedhouse, Ph.D. [email protected] Wilbur, CFA [email protected]

Alternate Site Healthcare ProvidersAcadia Healthcare Company, Inc. (ng) ACHC Q MO2 H/GRW 28.61 35.00 35.40 11.09 14.5 2.04 1.98 2.34 Dec $2,545 0.0% JWRAddus HomeCare Corporation (ng) ADUS Q MO2 M/GRW 98.96 95.00 104.56 43.12 35.2 2.50 2.81 3.23 Dec $1,540 0.0% JWRAmedisys, Inc. (ng) AMED Q MO2 H/GRW 192.05 210.00 218.44 108.41 42.3 4.40 4.54 6.36 Dec $6,219 0.0% JWRDaVita Inc. (ng) DVA N MP3 H/GRW 80.96 NM 90.15 43.40 13.3 5.40 6.10 5.84 Dec $9,861 0.0% JWREncompass Health Corporation (ng) EHC N MO2 H/GRW 73.25 86.00 83.30 48.01 25.3 3.91 2.90 4.07 Dec $7,282 1.5% JWRRadNet, Inc. (g) RDNT Q MO2 H/GRW 17.04 18.50 23.45 5.81 NM 0.29 -0.55 0.41 Dec $859 0.0% JWR

Animal HealthCovetrus, Inc. (ng) CVET Q MO2 H/GRW 15.28 14.00 26.58 4.04 37.0 0.75 0.41 0.57 Dec $1,711 0.0% AC, JWRElanco Animal Health Incorporated (ar) ELAN N MP3 M/GRW 21.41 NM 35.46 15.17 30.9 1.06 0.69 0.89 Dec $8,538 0.0% EWHeska Corporation (g) HSKA Q MP3 H/GRW 87.93 NM 110.90 50.00 NM -0.20 -1.84 -0.90 Dec $826 0.0% AC, JWRIDEXX Laboratories, Inc. (ng) IDXX Q MP3 H/GRW 308.88 NM 311.97 168.65 66.1 4.89 4.68 6.24 Dec $26,233 0.0% AC, JWRTrupanion, Inc. (g) TRUP Q MP3 H/GRW 30.12 NM 38.06 20.84 NM -0.05 0.01 0.04 Dec $1,057 0.0% AC, JWRZoetis Inc. (ar) ZTS N MP3 M/GRW 139.39 NM 146.26 90.14 42.3 3.64 3.29 3.87 Dec $66,202 0.6% EW

BiotechnologyAcer Therapeutics Inc. (g) ACER Q MP3 H/SPEC 3.07 NM 20.41 1.08 NM -2.91 -1.30 -0.92 Dec $31 0.0% SSAdverum Biotechnologies, Inc. (cb) ADVM Q MP3 H/SPEC 20.63 NM 23.79 4.96 NM -67 -92 -104 Dec $1,657 0.0% DLAlexion Pharmaceuticals, Inc. (ng) ALXN Q MO2 H/GRW 119.90 156.00 134.84 72.67 10.8 10.53 11.12 12.33 Dec $26,478 0.0% SSAllogene Therapeutics, Inc. (cb) ALLO Q MP3 H/SPEC 48.16 NM 55.00 17.43 NM -198 -249 -297 Dec $6,036 0.0% DLAmgen Inc. (cb) AMGN Q MO2 H/GRW 229.70 255.00 244.99 166.68 NM 13,363 14,167 14,100 Dec $135,121 2.8% DLApellis Pharmaceuticals, Inc. (g) APLS Q SB1 H/SPEC 33.69 86.00 45.04 16.85 NM -4.90 -6.35 -5.81 Dec $2,544 0.0% SSBiogen Inc. (ng) BIIB Q MU4 H/SPEC 307.09 NM 374.99 215.78 9.2 33.57 33.38 28.01 Dec $51,005 0.0% SSbluebird bio, Inc. (cb) BLUE Q MP3 H/GRW 63.63 NM 143.98 38.95 NM -797 -397 -738 Dec $4,204 0.0% DLBlueprint Medicines Corporation (cb) BPMC Q SB1 H/GRW 65.14 95.00 102.98 43.29 NM -356 -456 -306 Dec $3,530 0.0% DLBridgeBio Pharma, Inc. (cb) BBIO Q MO2 H/SPEC 29.33 40.00 48.36 14.23 NM -266 -266 -413 Dec $3,560 0.0% DLChemoCentryx, Inc. (g) CCXI Q SB1 H/SPEC 62.39 95.00 63.78 6.16 NM -0.98 -1.19 -1.81 Dec $3,859 0.0% SSCRISPR Therapeutics AG (g) CRSP Q MU4 H/SPEC 64.58 NM 74.00 32.30 NM 1.17 -4.63 -6.05 Dec $3,941 0.0% SSCymaBay Therapeutics, Inc. (g) CBAY Q MO2 H/SPEC 3.71 7.00 12.49 1.21 NM -1.53 -1.10 -1.22 Dec $255 0.0% SSDenali Therapeutics Inc. (cb) DNLI Q MP3 H/SPEC 27.83 NM 30.41 12.39 NM -205 -229 -247 Dec $2,940 0.0% DLEditas Medicine, Inc. (g) EDIT Q MO2 H/SPEC 27.07 46.00 34.37 14.01 NM -2.68 -3.02 -2.36 Dec $1,489 0.0% SSG1 Therapeutics, Inc. (cb) GTHX Q SB1 H/SPEC 16.97 66.00 41.80 8.80 NM -129 -145 -191 Dec $640 0.0% DLGalapagos NV (cb, r) GLPG Q MP3 H/SPEC 202.78 NM 274.03 112.00 NM 370 -373 -367 Dec $13,144 0.0% DLGalmed Pharmaceuticals Ltd. (g) GLMD Q MO2 H/SPEC 4.75 20.00 7.70 3.02 NM -0.97 -1.19 -1.32 Dec $100 0.0% SSGilead Sciences, Inc. (ng) GILD Q MP3 H/GRW 77.83 NM 85.97 60.89 12.3 6.63 6.33 6.45 Dec $97,628 3.5% SSGritstone Oncology, Inc. (cb) GRTS Q MO2 H/SPEC 6.46 20.00 12.96 5.42 NM -93 -114 -130 Dec $241 0.0% DLInflaRx N.V. ($E, g) IFRX Q MO2 H/SPEC 8.82 20.00 37.47 2.17 NM -2.05 -0.95 -1.17 Dec $229 0.0% SSIntellia Therapeutics, Inc. (g) NTLA Q MO2 H/SPEC 17.51 25.00 21.63 9.18 NM -2.11 -3.04 -3.03 Dec $900 0.0% SSIntercept Pharmaceuticals, Inc. (g) ICPT Q MO2 H/SPEC 72.26 115.00 125.00 47.57 NM -10.89 -15.02 -16.70 Dec $2,380 0.0% SS


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Jounce Therapeutics, Inc. (g) JNCE Q SB1 H/SPEC 5.39 11.00 10.00 2.79 NM 1.66 -2.68 -2.26 Dec $184 0.0% SSKadmon Holdings, Inc. (g) KDMN N MO2 H/SPEC 4.44 9.00 5.50 1.63 NM -0.48 -0.60 -0.49 Dec $711 0.0% SSLineage Cell Therapeutics Inc. (cb) LCTX N MP3 H/SPEC 0.88 NM 1.67 0.53 NM -38 -29 -32 Dec $132 0.0% DLMadrigal Pharmaceuticals, Inc. (g) MDGL Q MU4 H/SPEC 116.02 NM 127.25 56.82 NM -5.45 -9.87 -10.42 Dec $1,790 0.0% SSMagenta Therapeutics, Inc. (cb) MGTA Q MO2 H/SPEC 8.84 22.00 16.87 5.76 NM -82 -87 -98 Dec $349 0.0% DLMirum Pharmaceuticals, Inc. (g) MIRM Q MO2 H/SPEC 16.85 28.00 28.31 6.51 NM -4.58 -3.49 -3.74 Dec $428 0.0% SSNGM Biopharmaceuticals, Inc. (g) NGM Q SB1 H/SPEC 19.73 32.00 23.39 8.81 NM -0.85 -1.43 -1.21 Dec $1,344 0.0% SSOcular Therapeutix, Inc. (cb) OCUL Q SB1 H/GRW 7.04 15.00 8.12 2.45 NM -86 -71 -20 Dec $442 0.0% DLRegeneron Pharmaceuticals, Inc. (cb) REGN Q MP3 H/GRW 612.81 NM 615.36 271.37 NM 3,674 4,022 4,340 Dec $68,953 0.0% DLREGENXBIO Inc. (cb) RGNX Q MO2 H/SPEC 37.66 60.00 55.23 20.03 NM -142 -118 -98 Dec $1,402 0.0% DLSage Therapeutics, Inc. (cb) SAGE Q MP3 H/GRW 35.72 NM 193.56 25.01 NM -708 -554 -593 Dec $1,855 0.0% DLVBI Vaccines Inc. (g) VBIV Q MO2 H/SPEC 2.18 3.00 2.98 0.47 NM -0.46 -0.16 -0.15 Dec $503 0.0% SSViking Therapeutics, Inc. (g) VKTX Q SB1 H/SPEC 7.15 25.00 8.87 3.26 NM -0.36 -0.65 -0.80 Dec $519 0.0% SSVoyager Therapeutics, Inc. (cb) VYGR Q SB1 H/GRW 12.10 28.00 28.79 6.26 NM -49 -91 -97 Dec $450 0.0% DLXencor, Inc. (cb) XNCR Q MP3 H/GRW 30.25 NM 46.33 19.35 NM 18 -98 -109 Dec $1,724 0.0% DL

Death CareService Corporation International (fc) SCI N MO2 H/GRW 39.43 47.50 52.89 33.93 22.6 2.13 1.75 2.15 Dec $7,024 1.9% JWR

Diagnostics & Clinical LaboratoriesCareDx, Inc. (ng) CDNA Q SB1 H/GRW 32.12 40.00 41.27 13.04 NM 0.10 -0.13 0.20 Dec $1,406 0.0% AC, LKGenMark Diagnostics, Inc. (g) GNMK Q MP3 H/GRW 9.49 NM 13.49 3.36 NM -0.82 -0.43 -0.35 Dec $661 0.0% AC, LKNeoGenomics, Inc. (ng) NEO Q MO2 H/GRW 26.69 32.00 34.97 18.52 NM 0.31 0.09 0.35 Dec $2,948 0.0% AC, LKOraSure Technologies, Inc. (g) OSUR Q MP3 H/GRW 14.54 NM 18.27 5.23 NM 0.27 -0.18 -0.06 Dec $902 0.0% AC, LKQuidel Corporation (ng) QDEL Q MP3 H/GRW 175.00 NM 163.48 52.49 16.1 2.97 10.85 10.25 Dec $7,350 0.0% AC, LK

Healthcare Information TechnologyChange Healthcare Inc. (ng) CHNG Q SB1 M/GRW 12.48 20.00 17.57 6.18 8.3 NA 1.50 1.12 Mar $4,021 0.0% JWRHealth Catalyst, Inc. (ar) HCAT Q SB1 M/GRW 27.14 40.00 49.85 17.48 NM -0.93 -0.72 -0.45 Dec $1,032 0.0% JWRHealthStream, Inc. (ar) HSTM Q MP3 M/GRW 22.78 NM 29.78 20.03 75.4 0.44 0.30 0.04 Dec $729 0.0% JWRPhreesia, Inc. (g) PHR N MO2 M/GRW 29.32 30.00 34.85 16.01 NM -24.53 -4.53A -0.67 Jan $1,104 0.0% JWR

Healthcare Supply Chain ServicesAmerisourceBergen Corporation (ng) ABC N MP3 M/GRW 95.34 NM 97.50 72.06 12.9 7.09 7.39 8.22 Sep $19,392 1.8% JWRCardinal Health, Inc. (ng) CAH N MP3 M/GRW 54.69 NM 60.69 39.05 10.3 5.28 5.33 5.45 Jun $15,969 3.5% JWRMcKesson Corporation (ng) MCK N MP3 M/GRW 158.67 NM 172.18 112.60 10.9 13.57 14.95A 14.61 Mar $25,681 1.0% JWRPremier, Inc. (ng) PINC Q MO2 H/GRW 34.79 40.00 40.13 27.11 12.6 2.66 2.77 2.93 Jun $4,254 0.0% JWRWalgreens Boots Alliance, Inc. (ce) WBA Q MP3 M/GRW 42.94 NM 64.50 36.65 8.5 5.99 5.04 5.83 Aug $37,668 4.3% JWR

HospitalsCommunity Health Systems, Inc. (ng) CYH N MP3 H/SPEC 3.15 NM 7.47 1.79 NM -0.89 -4.01 -2.75 Dec $377 0.0% JWRHCA Healthcare, Inc. (ng) HCA N MO2 H/GRW 106.90 130.00 151.97 58.38 15.9 10.50 6.73 8.47 Dec $36,092 0.0% JWRTenet Healthcare Corporation (ng) THC N MO2 H/GRW 21.76 40.00 39.37 10.00 10.4 2.68 2.09 2.68 Dec $2,279 0.0% JWRUniversal Health Services, Inc. (ng) UHS N MP3 M/GRW 105.45 NM 157.79 65.20 16.2 9.99 6.52 9.43 Dec $8,956 0.0% JWR

Hospital Supplies & EquipmentAvanos Medical, Inc. (ar) AVNS N MP3 H/GRW 29.06 NM 48.07 19.46 87.5 1.07 0.33 1.23 Dec $1,388 0.0% LK, ACAvantor, Inc. (ar) AVTR N MO2 H/GRW 18.97 17.00 19.59 6.66 27.2 0.58 0.70 0.96 Dec $11,034 0.0% LK, ACBaxter International Inc. (ar) BAX N MO2 M/GRW 90.01 97.00 95.19 69.10 27.3 3.31 3.30 3.87 Dec $45,801 1.1% LK, AC


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Healthcare - USA

Becton, Dickinson and Company (ar) BDX N MO2 M/GRW 246.93 290.00 286.72 197.75 23.5 11.68 10.50 12.58 Sep $71,555 1.3% LK, ACCantel Medical Corp. (ar) CMD N MP3 H/GRW 42.08 NM 93.87 20.81 31.2 2.37 1.35 2.08 Jul $1,773 0.5% LK, ACHaemonetics Corporation (ar) HAE N MO2 H/GRW 109.68 125.00 140.36 63.41 35.0 2.39 3.31A 3.13 Mar $5,527 0.0% LK, ACHill-Rom Holdings, Inc. (ar) HRC N MO2 M/GRW 101.67 120.00 117.50 72.29 18.7 5.08 5.42 5.96 Sep $6,767 0.9% LK, ACIntuitive Surgical, Inc. (ar) ISRG Q MO2 H/GRW 580.03 600.00 619.00 360.50 75.1 12.76 7.72 14.41 Dec $67,643 0.0% LK, ACMasimo Corporation (ce) MASI Q MO2 H/GRW 240.19 235.00 258.00 128.36 76.5 3.22 3.14 4.00 Dec $12,999 0.0% LK, ACStericycle, Inc. (ce) SRCL Q MP3 M/GRW 54.83 NM 67.94 38.45 27.0 2.65 2.03 2.46 Dec $5,013 0.0% LK, ACSTERIS plc (ce) STE N MP3 M/GRW 165.89 NM 168.98 105.69 31.7 4.88 5.64A 5.24 Mar $14,069 0.9% LK, ACStryker Corporation (ar) SYK N MO2 M/GRW 195.73 205.00 226.30 124.54 35.0 8.26 5.60 8.67 Dec $73,473 1.2% LK, ACTeleflex Incorporated (ar) TFX N SB1 M/GRW 362.86 400.00 398.65 221.27 35.7 11.15 10.18 14.68 Dec $16,848 0.4% LK, ACThe Cooper Companies, Inc. (ar) COO N MO2 H/GRW 316.98 340.00 365.68 236.68 31.4 12.35 10.10 14.18 Oct $16,905 0.0% LK, ACTransEnterix, Inc. (ce) TRXC N MP3 H/SPEC 0.42 NM 25.22 0.28 NM -4.22 -1.60 -1.79 Dec $22 0.0% LK, ACZimmer Biomet Holdings, Inc. (ar) ZBH N SB1 H/GRW 126.34 140.00 161.11 74.37 37.6 7.87 3.36 7.40 Dec $26,127 0.8% LK, AC

Integrated Benefits ManagementCigna Corporation (ng) CI N SB1 M/GRW 197.32 240.00 224.64 118.50 10.7 17.04 18.52 20.66 Dec $72,807 0.0% JWRCVS Health Corporation (ng) CVS N SB1 M/GRW 65.57 90.00 77.03 52.04 9.2 7.08 7.11 7.50 Dec $85,706 3.1% JWRUnitedHealth Group Incorporated (ng) UNH N SB1 M/GRW 304.85 325.00 309.66 187.72 18.6 15.11 16.41 19.00 Dec $289,114 1.4% JWR

Medical DevicesAbbott Laboratories (ng) ABT N MO2 M/GRW 94.92 102.00 100.00 61.61 33.1 3.24 2.87 3.64 Dec $167,898 1.5% JBAbiomed, Inc. (g) ABMD Q MP3 H/GRW 223.90 NM 285.77 119.01 65.2 5.61 4.43A 3.43 Mar $10,067 0.0% JBAngioDynamics, Inc. (ng) ANGO Q MP3 H/GRW 10.21 NM 22.09 7.48 68.3 0.22 0.15 0.20 May $385 0.0% JBBioTelemetry, Inc. (ng) BEAT Q MP3 M/GRW 47.18 NM 55.85 27.35 28.0 1.95 1.69 2.19 Dec $1,611 0.0% JBBoston Scientific Corporation (ng) BSX N SB1 H/GRW 37.99 43.00 46.62 24.10 41.4 1.58 0.92 1.66 Dec $54,276 0.0% JBBrainsway Ltd. (g, r) BWAY Q MO2 H/SPEC 7.80 10.00 12.53 5.10 NM -0.50 -0.47 -0.28 Dec $87 0.0% JBCardiovascular Systems, Inc. (ng) CSII Q MP3 H/GRW 38.72 NM 55.22 26.00 NM -0.01 -0.84 -0.00 Jun $1,366 0.0% JBDexCom, Inc. (ng) DXCM Q MO2 H/GRW 378.31 360.00 428.59 116.83 NM 1.84 2.38 2.71 Dec $35,675 0.0% JBEdwards Lifesciences Corporation (ng) EW N MO2 M/GRW 74.91 83.00 82.55 51.51 45.2 1.86 1.66 2.15 Dec $15,473 0.0% JBHologic, Inc. (ng) HOLX Q MP3 M/GRW 53.00 NM 55.25 26.49 20.7 2.43 2.55 2.61 Sep $13,685 0.0% JBICU Medical, Inc. (ng) ICUI Q MO2 H/GRW 199.62 228.00 259.72 148.89 31.8 8.17 6.28 7.41 Dec $4,158 0.0% JBInsulet Corporation (g) PODD Q MO2 H/GRW 188.57 220.00 228.79 106.17 NM 0.19 0.09 1.02 Dec $12,342 0.0% JBIntegra LifeSciences Corp. (ng) IART Q MP3 H/GRW 52.11 NM 65.09 34.21 26.9 2.74 1.94 2.83 Dec $4,421 0.0% JBJohnson & Johnson (ng) JNJ N MO2 M/INC 148.75 157.00 157.00 109.16 19.3 8.69 7.70 8.71 Dec $391,895 2.7% JBMedtronic plc (ng) MDT N MO2 M/GRW 98.58 107.00 122.15 72.13 29.3 5.22 4.59A 3.36 Apr $132,114 2.4% JBMerit Medical Systems, Inc. (ng) MMSI Q MO2 H/GRW 44.99 49.00 61.93 19.50 50.0 1.46 0.90 1.66 Dec $2,492 0.0% JBNatus Medical Incorporated (ng) NTUS Q MP3 H/GRW 21.40 NM 34.89 18.91 43.1 1.24 0.50 1.25 Dec $723 0.0% JBSenseonics Holdings, Inc. (g) SENS N MP3 H/SPEC 0.47 NM 2.24 0.45 NM -0.61 -0.54 -0.39 Dec $104 0.0% JBTandem Diabetes Care, Inc. (g) TNDM Q MO2 H/GRW 83.15 88.00 92.37 43.69 NM -0.42 -0.32 0.19 Dec $4,997 0.0% JB

Specialty PharmaceuticalsAdamis Pharmaceuticals Corporation (g) ADMP Q MP3 H/SPEC 0.49 NM 1.57 0.27 NM -0.55 -0.35 -0.18 Dec $36 0.0% EWADMA Biologics, Inc. (g) ADMA Q MO2 H/GRW 3.29 9.00 5.48 1.45 NM -0.89 -0.76 -0.17 Dec $284 0.0% EWAerie Pharmaceuticals, Inc. (ar) AERI Q MP3 H/SPEC 14.03 NM 39.34 10.80 NM -3.40 -3.11 -2.10 Dec $652 0.0% EWAkorn, Inc. (ar) AKRX Q MP3 H/SPEC 0.09 NM 5.46 0.09 NM 0.19 0.26 0.52 Dec $12 0.0% EWAmneal Pharmaceuticals Inc. (ar) AMRX N MP3 H/GRW 4.87 NM 8.38 2.27 8.4 0.35 0.58 0.72 Dec $1,458 0.0% EWAmphastar Pharmaceuticals, Inc. (ar) AMPH Q MP3 H/GRW 18.64 NM 22.85 12.32 40.5 0.36 0.46 0.72 Dec $861 0.0% EW


52 Week EPS

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Healthcare - USA

ANI Pharmaceuticals, Inc. (ar) ANIP Q MO2 H/GRW 31.06 49.00 86.96 28.28 7.2 5.06 4.33 5.44 Dec $384 0.0% EWAntares Pharma, Inc. (g) ATRS Q SB1 H/SPEC 2.87 6.00 5.13 1.60 66.2 -0.01 0.04 0.32 Dec $475 0.0% EWEndo International plc (ar) ENDP Q MP3 H/GRW 3.86 NM 7.10 1.97 1.7 2.45 2.27 2.46 Dec $887 0.0% EWFlexion Therapeutics, Inc. (g) FLXN Q SB1 H/GRW 11.43 20.00 22.98 5.01 NM -3.93 -3.27 -1.70 Dec $546 0.0% EWLannett Company, Inc. (ar) LCI N MP3 H/GRW 7.65 NM 15.52 5.16 7.3 2.28 1.05 1.26 Jun $309 0.0% EWMallinckrodt public limited company (ar) MNK N MP3 M/GRW 2.82 NM 10.54 1.00 0.5 8.95 6.16 5.52 Dec $238 0.0% EWMylan N.V. (ar) MYL Q MO2 H/GRW 17.07 27.00 23.11 12.75 3.9 4.42 4.40 4.75 Dec $8,824 0.0% EWPerrigo Company PLC (ar) PRGO N MP3 M/GRW 54.77 NM 63.86 40.01 13.6 4.02 4.03 4.41 Dec $7,466 1.6% EWPLx Pharma Inc. (g) PLXP Q MP3 H/SPEC 3.68 NM 7.41 1.80 NM -3.84 -1.04 -0.92 Dec $34 0.0% EWSol-Gel Technologies Ltd. (g) SLGL Q SB1 H/SPEC 7.72 23.00 21.00 5.00 NM -1.26 -1.62 -1.50 Dec $177 0.0% EWTeva Pharmaceutical Industries Ltd. (ar, r) TEVA N MO2 M/GRW 12.53 15.00 13.76 6.07 5.0 2.40 2.53 2.77 Dec $13,727 0.0% EW


52 Week EPS

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Healthcare - CAN

Dane Leone, CFA * [email protected] David Novak, MSc [email protected] Sarugaser, PhD, MASc [email protected]

*Dane Leone is a Raymond James & Associates employee BiotechnologyCardiol Therapeutics Inc. CRDL T R H/SPEC C$2.79 R 6.05 1.87 R 0 R R Dec C$72 0.0% RSCatalyst Biosciences, Inc. CBIO Q MO2 H/SPEC 7.21 20.00 9.96 3.43 NM -4.60 -3.32 -4.64 Dec $126 0.0% DN, DLIMV Inc. IMV Q MP3 H/SPEC 2.95 3.00 5.12 1.35 NM -0.55 -0.80 -0.82 Dec $178 0.0% DNLeap Therapeutics, Inc. LPTX Q MO2 H/SPEC 2.37 2.50 3.18 0.57 NM -1.47 -0.87 -1.19 Dec $85 0.0% DN, DLProfound Medical Corp. (re) PRN T SB1 H/SPEC C$17.06 35.00 27.45 6.30 2.0 6 8 22 Dec C$274 0.0% RSZiopharm Oncology, Inc. ZIOP Q MO2 H/SPEC 2.96 5.50 7.25 1.79 NM -0.70 -0.40 -0.49 Dec $634 0.0% DN, DLZymeworks Inc. ZYME N SB1 H/SPEC 38.12 60.00 52.75 17.60 NM -3.83 -3.49 -3.45 Dec $1,736 0.0% DN

CannabisCronos Group Inc. (re) CRON Q MP3 H/SPEC 6.53 6.50 17.86 4.00 NM 24 44 100 Dec $2,278 0.0% RSOrganiGram Holdings Inc. OGI T MO2 H/SPEC C$2.42 6.50 10.55 1.54 NM 80 109 174 Aug C$425 0.0% RSVillage Farms International Inc. VFF Q MO2 H/SPEC 5.44 11.00 14.60 2.07 NM 145 146A 149 Dec $306 0.0% RS

PharmaceuticalsBioSyent, Inc. RX V MO2 H/SPEC C$4.75 6.00 7.88 3.13 13.1 0.31 0.36 0.42 Dec C$62 0.0% DNKnight Therapeutics Inc. GUD T MO2 M/GRW C$7.61 10.25 8.88 4.73 54.2 0.10 0.14 0.16 Dec C$996 0.0% DN


Industrial

USAConstruction Materials ..................................................................................................... 45Machinery ..................................................................................................................... 45

Truck Equipment ......................................................................................................... 45Specialty/Industrial Distribution ........................................................................................ 45Waste and Industrial Services ............................................................................................ 45

Industrial Services ....................................................................................................... 45Waste Services ............................................................................................................ 45

CANAerospace & Aviation ....................................................................................................... 46Chemicals ..................................................................................................................... 46Diversified Income Corps. ................................................................................................. 46Infrastructure & Construction ............................................................................................ 46

Construction .............................................................................................................. 46Engineering ................................................................................................................ 46Machinery .................................................................................................................. 46Related Products and Services ....................................................................................... 46

Special Situations ........................................................................................................... 46


52 Week EPS

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2019

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Anal

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Industrial - USA

Felix Boeschen [email protected] Tyler Brown, CFA [email protected]

Sam Darkatsh [email protected] Wilson, CFA [email protected]

Construction MaterialsConstruction Partners, Inc. (ae) ROAD Q MO2 M/GRW 17.70 18.00 20.79 11.96 NM 92 89 97 Sep $918 0.0% JW, SDDIRTT Environmental Solutions Ltd. (ae) DRTT Q MO2 H/GRW 1.31 1.50 6.19 0.71 NM 18 -7 7 Dec $111 0.0% JW, SDEagle Materials Inc. (ng) EXP N MO2 M/GRW 66.76 80.00 97.10 41.83 14.4 5.04 5.68A 4.65 Mar $2,779 0.0% JW, SDTecnoglass Inc. (ae) TGLS Q SB1 H/GRW 4.91 6.00 8.93 2.15 NM 92 80 86 Dec $226 2.2% JW, SD

MachineryTruck EquipmentAllison Transmission Holdings, Inc. (ng) ALSN N SB1 M/GRW 37.72 45.00 49.73 26.15 14.2 4.91 2.65 4.00 Dec $4,269 1.8% FB, TBCummins Inc. (ng) CMI N MP3 M/INC 169.60 NM 186.72 101.03 22.6 15.05 7.50 11.05 Dec $25,021 3.1% FB, TBNavistar International Corporation (ng) NAV N MP3 M/GRW 25.14 NM 38.00 15.01 NM 4.24 -1.34 1.10 Oct $2,501 0.0% FB, TBPACCAR Inc (ng) PCAR Q SB1 M/GRW 73.86 80.00 83.41 49.11 26.4 6.87 2.80 4.75 Dec $25,536 1.7% FB, TBWabash National Corporation (ng) WNC N SB1 M/GRW 9.55 10.00 16.70 6.26 NM 1.62 -0.35 0.70 Dec $505 3.4% FB, TB

Specialty/Industrial DistributionBeacon Roofing Supply, Inc. (ng) BECN Q MP3 H/GRW 24.62 NM 37.92 11.66 21.8 2.26 1.13 1.60 Sep $1,695 0.0% SDFastenal Company (ng) FAST Q MP3 M/GRW 41.26 NM 41.45 26.71 31.8 1.38 1.30 1.43 Dec $23,635 2.4% SDFoundation Building Materials, Inc. (ng) FBM N SB1 H/GRW 13.32 18.00 22.14 7.99 26.6 1.10 0.50 1.14 Dec $575 0.0% SDGMS Inc. (ng) GMS N SB1 H/GRW 20.49 24.00 32.42 10.39 7.2 2.80 2.83 2.07 Apr $867 0.0% SDHD Supply Holdings, Inc. (f, ng) HDS Q MO2 H/GRW 31.71 36.00 43.29 21.69 13.6 3.57 2.33 2.82 Jan $5,137 0.0% SDLKQ Corporation (ng) LKQ Q MP3 H/GRW 27.46 NM 36.63 13.31 16.4 2.37 1.68 2.20 Dec $8,347 0.0% SDMRC Global Inc. (ng) MRC N MP3 H/GRW 5.92 NM 17.67 3.31 NM 0.19 -0.45 -0.56 Dec $485 0.0% SDMSC Industrial Direct Co., Inc. (ng) MSM N MU4 M/GRW 69.34 NM 79.87 44.93 17.3 5.29 4.00 4.00 Aug $3,853 4.3% SDNOW Inc. (ng) DNOW N MP3 H/GRW 7.45 NM 15.33 4.05 NM 0.23 -3.80 -0.67 Dec $814 0.0% SDW.W. Grainger, Inc. (ng) GWW N MP3 M/GRW 309.62 NM 346.60 200.61 22.1 17.29 14.00 16.50 Dec $16,555 1.9% SDWESCO International, Inc. (ng) WCC N SB1 H/GRW 33.30 60.00 61.32 13.52 9.6 5.20 3.45 4.50 Dec $1,394 0.0% SD

Waste and Industrial ServicesIndustrial ServicesClean Harbors, Inc. (ng) CLH N MP3 M/GRW 59.39 NM 88.40 29.45 86.6 1.89 0.69 1.81 Dec $3,301 0.0% TBWaste ServicesCasella Waste Systems, Inc. (ng) CWST Q SB1 H/GRW 50.95 56.00 56.14 34.35 89.3 0.85 0.57 0.95 Dec $2,461 0.0% TBCovanta Holding Corporation (ng) CVA N MP3 H/INC 9.00 NM 18.38 6.57 NM 0.08 -0.27 -0.25 Dec $1,188 3.6% TBGFL Environmental Inc. (ng) GFL N MO2 M/GRW 19.17 19.00 19.35 11.92 NM NA -0.36 -0.38 Dec $6,257 0.2% TBRepublic Services, Inc. (ng) RSG N MO2 M/GRW 85.46 88.00 100.91 65.37 33.4 3.34 2.56 3.21 Dec $27,203 1.9% TBUS Ecology, Inc. (ng) ECOL Q MP3 H/GRW 33.67 NM 67.24 24.94 54.1 1.96 0.62 1.09 Dec $1,061 0.0% TBWaste Connections, Inc. (ng) WCN N SB1 H/GRW 94.04 106.00 105.17 70.87 43.9 2.72 2.14 2.44 Dec $24,722 1.1% TBWaste Management, Inc. (ng) WM N MO2 M/INC 106.75 110.00 126.79 85.34 28.2 4.40 3.79 4.41 Dec $45,051 2.0% TB


52 Week EPS

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Industrial - CAN

Frederic Bastien, CFA [email protected] Cherniavsky [email protected]

Steve Hansen, CFA, CPA, CMA [email protected] Quezada, CFA [email protected] Swetlishoff, CFA [email protected]

Aerospace & AviationBombardier Inc. BBD.B T MP3 H/GRW C$0.44 1.00 2.46 0.38 NM -0.25 -0.28 -0.03 Dec C$1,072 0.0% SH, BCCAE Inc. (f) CAE T MP3 H/INC C$20.66 19.00 42.00 14.26 34.2 1.25 1.34A 0.60 Mar C$5,497 0.0% BCCargojet Inc. CJT T MP3 M/GRW C$132.08 120.00 142.21 67.87 75.3 0.98 1.75 2.55 Dec C$2,058 0.7% BCHéroux-Devtek Inc. (f) HRX T MP3 H/GRW C$9.74 10.50 21.64 8.56 21.6 0.84 1.00A 0.45 Mar C$354 0.0% BC

ChemicalsChemtrade Logistics Income Fund CHE.UN T MP3 H/INC C$5.35 12.00 11.71 3.26 NM -1.08 -0.11 -0.05 Dec C$495 11.2% SHMethanex MEOH Q MP3 H/INC 16.11 18.50 47.55 9.00 NM 1.23 -2.44 -1.22 Dec $1,228 0.9% SHParkland Fuel Corporation (ae) PKI T SB1 H/GRW C$38.72 40.00 49.22 17.57 NM 1,265 849 1,135 Dec C$5,757 3.1% SHSuperior Plus Corp. (cb) SPB T MO2 M/INC C$9.45 13.50 13.70 5.97 NM 524 492 520 Dec C$1,656 7.6% SH

Diversified Income Corps.Exchange Income Corporation EIF T SB1 H/INC C$25.15 45.00 46.10 12.57 27.7 2.97 0.91 3.11 Dec C$874 9.1% SH

Infrastructure & ConstructionConstructionAecon Group ARE T SB1 M/INC C$14.60 22.00 21.83 10.94 20.9 1.12 0.70 1.20 Dec C$874 4.4% FBBird Construction Inc. BDT T SB1 H/INC C$5.69 9.00 7.30 3.96 12.6 0.22 0.45 0.80 Dec C$242 6.9% FBNorth American Construction Group NOA T MP3 H/GRW C$8.81 8.00 17.29 5.81 7.0 1.72 1.25 1.80 Dec C$238 1.8% BCStuart Olson Inc. SOX T MU4 H/INC C$1.01 0.75 4.00 0.73 NM -5.82 -0.34 -0.17 Dec C$28 0.0% FBEngineeringIBI Group Inc. IBG T MO2 H/GRW C$4.55 7.50 5.95 2.79 8.5 0.58 0.54 0.64 Dec C$142 0.0% FBSNC-Lavalin Group Inc. SNC T MP3 H/GRW C$20.88 27.00 34.36 15.47 NM -0.40 0.15 1.50 Dec C$3,665 0.4% FBStantec Inc. STN T MO2 M/INC C$41.60 46.00 43.10 26.67 26.6 1.82 1.57 2.00 Dec C$4,625 1.5% BC, FBWSP Global Inc. WSP T MO2 M/INC C$88.86 105.00 98.12 59.83 31.7 2.97 2.80 4.00 Dec C$9,430 1.7% FBMachineryCervus Equipment Corp. CERV T MP3 H/GRW C$7.30 7.50 13.11 4.73 25.6 -0.65 0.28 0.75 Dec C$114 6.0% BCFinning International FTT T MO2 M/GRW C$18.36 20.00 25.85 10.59 18.3 1.65 1.00 1.30 Dec C$2,976 4.5% BCRitchie Bros. Auctioneers RBA N MP3 M/INC 43.27 44.00 45.16 25.92 34.6 1.33 1.25 1.55 Dec $4,685 1.8% BCRocky Mountain Dealerships Inc. RME T MP3 H/INC C$4.47 6.50 8.88 3.32 84.5 0.03 0.05 0.27 Dec C$86 11.0% BCToromont Industries Ltd. TIH T MO2 M/GRW C$66.42 66.00 74.68 52.36 24.2 3.49 2.75 3.15 Dec C$5,445 1.9% BCWajax Corporation WJX T MP3 H/GRW C$8.37 10.00 17.15 4.90 8.4 2.05 1.00 1.30 Dec C$169 11.9% BCRelated Products and ServicesBlack Diamond Group Limited (cb) BDI T MO2 H/INC C$1.30 2.00 2.23 0.90 NM 39 36 43 Dec C$73 0.0% FBHorizon North Logistics Inc. (cb) HNL T MP3 H/INC C$0.61 0.75 2.05 0.25 NM 30 28 40 Dec C$101 0.0% FBRussel Metals Inc. RUS T MO2 H/INC C$14.64 21.00 23.35 10.97 24.6 1.23 0.60 1.90 Dec C$910 10.4% FB

Special SituationsBlackline Safety Corp. BLN V MO2 H/GRW C$5.38 8.75 7.40 3.53 NM -0.21 -0.14 0.05 Oct C$259 0.0% BCBoyd Group Services Inc. BYD T SB1 H/GRW C$210.77 225.00 231.52 125.01 NM 5.06 1.19 5.77 Dec C$4,525 0.3% SHNeo Performance Materials Inc. NEO T MP3 H/GRW C$7.48 9.00 13.26 5.55 57.5 0.60 0.13 0.50 Dec C$282 5.3% FB


Mining and Natural Resources

CANAgribusiness .................................................................................................................. 48Fertilizers ...................................................................................................................... 48Forest Products .............................................................................................................. 48

Building Materials ........................................................................................................ 48Pulp & Paper .............................................................................................................. 48

Mining .......................................................................................................................... 48Base Metals & Minerals ................................................................................................. 48Iron Ore ..................................................................................................................... 48Precious Metals - Gold .................................................................................................. 48Uranium .................................................................................................................... 49


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Mining and Natural Resources - CAN

Farooq Hamed, CA [email protected] Hansen, CFA, CPA, CMA [email protected]

Brian MacArthur, CFA [email protected] Swetlishoff, CFA [email protected]

AgribusinessAg Growth International, Inc. AFN T MO2 H/INC C$27.91 36.00 57.00 15.00 28.0 2.20 1.00 1.96 Dec C$522 2.1% SHEnWave Corporation ENW V MP3 H/GRW C$0.79 1.20 2.66 0.56 NM -0.01 -0.01 0.00 Dec C$88 0.0% SH

FertilizersItafos IFOS V MP3 H/SPEC C$0.27 0.50 1.63 0.20 NM -1.01 -0.37 -0.33 Dec C$38 0.0% SHNutrien Ltd. NTR N SB1 M/GRW 34.00 48.00 55.34 23.85 20.1 2.11 1.69 2.30 Dec $19,351 7.5% SH

Forest ProductsBuilding MaterialsAcadian Timber Corp. ADN T MO2 M/INC C$13.80 15.00 18.62 11.11 73.4 1.04 0.19 1.02 Dec C$230 8.4% DSCanfor Corp. CFP T MO2 H/GRW C$10.15 10.00 15.98 6.11 NM -2.10 -0.98 0.67 Dec C$1,271 0.0% DSConifex Timber Inc. CFF T MP3 H/SPEC C$0.47 0.50 1.44 0.20 NM -4.25 -0.27 -0.17 Dec C$22 0.0% DSInterfor Corporation IFP T MO2 H/GRW C$9.42 9.50 16.35 4.75 NM -1.54 -0.33 0.54 Dec C$634 0.0% DSNorbord Inc. OSB T MO2 H/GRW C$26.37 25.50 44.69 13.01 NM -0.51 -0.06 2.69 Dec C$2,150 3.2% DSWestern Forest Products Inc. WEF T MO2 H/GRW C$0.76 1.05 1.72 0.58 NM -0.12 -0.03 0.11 Dec C$285 0.0% DSWest Fraser Timber Co. Ltd. WFT T MO2 H/GRW C$37.26 40.00 66.43 21.60 NM -2.34 -0.37 4.49 Dec C$2,559 2.1% DSPulp & PaperCanfor Pulp Products Inc. CFX T MO2 H/GRW C$6.23 10.00 11.67 4.01 NM -0.47 -0.04 0.86 Dec C$406 0.0% DSDomtar Corporation UFS N MP3 H/INC 20.40 24.00 44.76 18.40 NM 1.29 -0.19 1.26 Dec $1,143 0.0% DSMercer International Inc. MERC Q MO2 H/INC 8.07 11.00 15.84 6.42 NM -0.15 -0.34 0.84 Dec $531 3.2% DS

MiningBase Metals & MineralsAdventus Mining Corp. ADZN V MO2 H/GRW C$0.87 1.70 1.16 0.52 NM -0.09E -0.05 -0.09 Dec C$88 0.0% FHAltius Minerals Corporation ALS T MO2 H/GRW C$10.20 12.00 13.21 6.29 56.7 0.60 0.18 0.25 Dec C$425 2.0% BMaEro Copper Corp. ERO T MO2 H/GRW C$16.03 18.00 25.69 8.40 20.6 0.96 0.78 1.06 Dec C$1,375 0.0% FHFirst Quantum Minerals Ltd. FM T MP3 H/GRW C$8.07 10.50 14.10 4.71 NM 0.29 -0.83 -0.03 Dec C$5,563 0.1% FHFreeport-McMoRan Inc. FCX N MP3 H/GRW 9.07 10.00 13.63 4.82 NM -0.04 -0.03 0.50 Dec $13,169 0.0% BMaHudbay Minerals, Inc. HBM T MP3 H/GRW C$3.74 4.00 7.55 1.66 NM -1.41 -0.55 0.03 Dec C$977 0.5% FHIvanhoe Mines Ltd. IVN T MO2 H/GRW C$3.05 5.50 4.54 1.80 NM 0.01 -0.06 0.02 Dec C$3,657 0.0% FHLundin Mining Corporation LUN T MP3 H/GRW C$6.34 7.00 8.08 4.08 NM 0.23 -0.02 0.30 Dec C$4,651 2.5% FHTeck Resources Limited TECK.B T MO2 H/GRW C$13.08 16.00 30.81 8.15 59.5 2.69 0.22 Dec C$6,946 1.5% BMaTrevali Mining Corporation TV T MP3 H/SPEC C$0.07 0.05 0.31 0.06 NM -0.03 -0.06 -0.06 Dec C$56 0.0% BMaTrilogy Metals Inc. TMQ T MO2 H/SPEC C$2.62 3.00 4.10 1.50 2.3 -0.21 1.12 Nov C$369 0.0% BMaIron OreChampion Iron Limited CIA T MO2 H/GRW C$2.45 3.00 3.15 0.96 7.4 0.18 0.36A 0.33 Mar C$1,156 0.0% BMaLabrador Iron Ore Royalty Corp. LIF T MO2 M/INC C$22.41 26.00 36.01 13.25 9.7 3.21 2.31 2.59 Dec C$1,434 4.5% BMaPrecious Metals - GoldAgnico Eagle Mines AEM N MO2 M/GRW 64.00 65.00 69.66 31.00 45.7 0.96 1.40 2.30 Dec $15,439 1.2% FHBarrick Gold Corporation GOLD N MO2 M/GRW 24.00 32.00 28.50 11.66 30.8 0.51 0.78 0.90 Dec $42,673 1.2% BMaCenterra Gold Inc. CG T MO2 H/GRW C$13.97 16.00 14.24 5.52 16.1 0.62 0.87 1.60 Dec C$4,105 1.1% BMa


52 Week EPS

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Mining and Natural Resources - CAN

Coeur Mining, Inc. CDE N MP3 H/SPEC 5.75 5.75 8.29 1.98 NM -0.25 -0.10 Dec $1,400 0.0% BMaFranco-Nevada Corporation FNV N MO2 M/GRW 140.58 146.00 152.70 73.87 74.4 1.82 1.89 2.29 Dec $26,703 1.0% BMaIAMGOLD Corporation IAG N MP3 H/GRW 3.74 4.00 4.17 1.44 19.0 -0.13 0.20 0.25 Dec $1,759 0.0% FHKinross Gold Corporation KGC N MO2 H/GRW 6.55 8.00 7.67 2.72 13.2 0.29 0.50 0.71 Dec $8,235 0.0% FHMaverix Metals Inc. MMX T R H/GRW C$6.33 R 7.33 3.10 R 0.05 R R Sep C$758 0.9% BMaNew Gold Inc. NGD N MP3 H/GRW 1.21 1.25 1.56 0.39 NM -0.11 -0.08 -0.02 Dec $818 0.0% FHNewmont Corporation NEM N MO2 M/GRW 58.47 73.00 69.13 31.60 29.5 1.32 1.98 2.47 Dec $46,927 1.7% BMaOceanaGold Corporation OGC T SB1 H/GRW C$2.80 4.00 4.17 1.16 NM 0.01 0.01 0.41 Dec C$1,742 0.0% FHOsisko Gold Royalties Ltd OR T MO2 H/GRW C$13.66 15.50 17.47 6.35 68.3 0.28 0.20 0.30 Dec C$2,255 1.5% BMaRoyal Gold Inc. RGLD Q MO2 M/GRW 133.20 136.00 139.63 59.78 45.9 1.48 2.90 2.85 Jun $8,737 0.8% BMaSandstorm Gold Ltd. SAND N MP3 H/GRW 8.34 8.75 9.02 3.32 NM 0.09 0.07 0.16 Dec $1,585 0.0% BMaWheaton Precious Metals Corp. WPM N MO2 H/GRW 43.00 45.00 47.15 18.66 53.1 0.56 0.81 0.75 Dec $19,276 1.3% BMaYamana Gold Inc. AUY N MP3 H/GRW 5.36 5.50 5.65 1.78 42.4 0.10 0.13 0.19 Dec $5,101 1.1% FHUraniumCameco Corporation CCO T MO2 H/GRW C$14.96 16.00 15.77 7.69 NM 0.10 -0.09 0.54 Dec C$5,921 0.5% BMaDenison Mines Corp. DML T MP3 H/SPEC C$0.58 0.90 0.72 0.24 NM -0.03 -0.02 Dec C$363 0.0% BMaNexGen Energy Ltd. NXE T MO2 H/SPEC C$1.95 4.25 2.31 0.76 NM -0.04 -0.10 -0.08 Dec C$703 0.0% BMaUranium Participation Corporation U T MO2 H/GRW C$5.12 6.00 5.35 3.12 NM 1.25 -0.42 2.32 Feb C$707 0.0% BMa


Real Estate

USAHousing ........................................................................................................................ 51Lodging ........................................................................................................................ 51REITs ............................................................................................................................ 51

Farmland REITs ........................................................................................................... 51Healthcare REITs ......................................................................................................... 51Hotel REITs ................................................................................................................ 51Industrial REITs ........................................................................................................... 51Mall REITs .................................................................................................................. 52Mortgage REITs & Real Estate Finance ............................................................................. 52Net Lease REITs .......................................................................................................... 52Office/Mixed REITs ....................................................................................................... 52Residential REITs ......................................................................................................... 53Self Storage REITs ....................................................................................................... 53Shopping Center REITs ................................................................................................. 53Timber REITs .............................................................................................................. 53

CANReal Estate .................................................................................................................... 54

Death Care ................................................................................................................. 54Healthcare ................................................................................................................. 54Mortgage Investment Corporations ................................................................................. 54Office/Diversified ......................................................................................................... 54Real Estate Services ..................................................................................................... 54Residential ................................................................................................................. 54Retail ........................................................................................................................ 54Self-Storage ............................................................................................................... 54


52 Week EPS

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William A. Crow [email protected] Horne, CFA [email protected] Hughes, CFA [email protected]

Stephen Laws [email protected] Mings, CFA [email protected]

HousingD.R. Horton, Inc. (ar) DHI N MP3 M/GRW 55.30 NM 62.54 25.51 12.4 4.29 4.45 3.95 Sep $20,104 1.3% BHKB Home (ar) KBH N SB1 M/GRW 33.08 26.00 40.51 9.82 15.4 2.91 2.15 2.55 Nov $2,992 1.1% BHLennar Corporation (g) LEN N MO2 M/GRW 60.46 41.00 71.38 25.42 13.4 5.74 4.50 4.85 Nov $18,878 0.8% BHM.D.C. Holdings, Inc. (ar) MDC N SB1 M/GRW 33.99 35.00 48.99 15.75 12.4 3.72 2.75 3.40 Dec $2,143 3.9% BHPulteGroup, Inc. (g) PHM N MP3 M/GRW 33.97 NM 47.37 17.12 11.9 3.66 2.85 2.95 Dec $9,154 1.4% BHToll Brothers, Inc. (ar) TOL N MP3 M/GRW 32.31 NM 49.31 13.28 12.7 4.03 2.55 3.60 Oct $4,095 1.4% BH

LodgingHilton Worldwide Holdings Inc. (ng) HLT N MO2 M/GRW 79.31 82.00 115.48 44.30 78.0 3.90 1.02 2.54 Dec $21,989 0.0% WACHyatt Hotels Corporation (ng) H N MP3 M/GRW 55.09 NM 94.98 24.02 NM 2.05 -3.08 -0.58 Dec $5,568 0.0% WACMarriott International, Inc. (ng) MAR Q MP3 M/GRW 88.50 NM 153.39 46.56 NM 6.00 0.75 3.59 Dec $28,693 0.0% WAC

REITsFarmland REITsFarmland Partners Inc. (ca) FPI N MO2 H/INC 6.90 7.50 7.22 5.05 35.2 0.09 0.20 0.22 Dec $206 2.9% CMHealthcare REITsCareTrust REIT, Inc. (x) CTRE Q MO2 M/INC 18.63 20.00 25.30 7.16 13.9 1.36 1.34 1.33 Dec $1,783 5.4% JHDiversified Healthcare Trust (x) DHC Q MP3 M/INC 3.58 NM 9.85 2.00 5.2 1.31 0.69 0.75 Dec $852 1.1% JHHealthcare Realty Trust Incorporated (x) HR N MO2 M/INC 30.70 34.00 37.97 24.10 18.0 1.60 1.70 1.82 Dec $4,142 3.9% JHHealthcare Trust of America, Inc. (x) HTA N MP3 M/INC 26.47 NM 34.22 20.61 16.1 1.64 1.64 1.76 Dec $5,783 4.8% JHHealthpeak Properties, Inc. (x) PEAK N MP3 M/INC 24.64 NM 37.93 18.63 14.9 1.76 1.65 1.76 Dec $13,263 6.0% JHOmega Healthcare Investors, Inc. (x) OHI N SB1 M/INC 31.14 34.00 45.22 13.33 10.4 2.95 3.00 2.95 Dec $7,066 8.6% JHPhysicians Realty Trust (x) DOC N MO2 M/INC 17.27 19.00 20.78 11.01 16.5 0.99 1.05 1.12 Dec $3,498 5.3% JHSabra Health Care REIT, Inc. (x) SBRA Q MP3 M/INC 13.46 NM 24.95 5.54 8.3 1.89 1.61 1.50 Dec $2,767 8.9% JHVentas, Inc. (x) VTR N SB1 H/INC 34.95 45.00 75.40 13.35 11.1 3.85 3.16 3.13 Dec $13,039 9.1% JHWelltower Inc. (x) WELL N MO2 M/INC 50.67 58.00 93.17 24.27 14.3 4.16 3.53 3.53 Dec $21,154 4.8% JHHotel REITsDiamondRock Hospitality Company (x) DRH N MP3 M/INC 5.99 NM 11.79 1.96 NM 1.07 -0.16 0.30 Dec $1,193 0.0% WACHersha Hospitality Trust (x) HT N MU4 H/INC 5.04 NM 17.51 2.29 NM 1.95 -1.03 0.61 Dec $195 0.0% WACHost Hotels & Resorts, Inc. (x) HST N MO2 M/INC 11.94 13.00 18.93 7.86 NM 1.78 -0.16 0.72 Dec $8,417 6.7% WACPark Hotels & Resorts Inc. (x) PK N MP3 M/INC 9.83 NM 28.90 3.99 NM 2.88 -0.55 0.94 Dec $2,316 0.0% WACPebblebrook Hotel Trust (x) PEB N MP3 M/INC 13.66 NM 29.57 5.39 NM 2.63 -0.59 0.85 Dec $1,786 0.3% WACRLJ Lodging Trust (x) RLJ N MO2 M/INC 10.31 9.50 18.37 3.88 NM 2.03 -0.65 0.66 Dec $1,702 0.4% WACRyman Hospitality Properties, Inc. (x) RHP N MO2 M/INC 34.18 40.00 91.57 13.25 NM 6.86 -1.35 3.42 Dec $1,879 0.0% WACSummit Hotel Properties, Inc. (x) INN N MO2 M/INC 6.25 6.00 12.59 2.32 NM 1.25 -0.16 0.49 Dec $660 0.0% WACSunstone Hotel Investors, Inc. (x) SHO N MP3 M/GRW 8.85 NM 14.47 5.75 NM 1.12 -0.24 0.39 Dec $1,908 0.0% WACXenia Hotels & Resorts, Inc. (x) XHR N MP3 M/INC 9.00 NM 22.39 6.14 NM 2.22 -0.54 0.71 Dec $1,021 0.0% WACIndustrial REITsAmericold Realty Trust (x) COLD N MO2 M/INC 35.71 38.00 40.42 23.30 28.8 1.20 1.24 1.33 Dec $7,152 2.4% WAC


52 Week EPS

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Real Estate - USA

EastGroup Properties, Inc. (x) EGP N MP3 M/INC 116.25 NM 142.69 83.40 22.3 4.98 5.20 5.38 Dec $4,540 2.6% WACFirst Industrial Realty Trust, Inc. (x) FR N MP3 M/INC 37.88 NM 46.12 25.89 21.3 1.74 1.78 1.84 Dec $4,818 2.6% WACSTAG Industrial, Inc. (co) STAG N MO2 M/INC 26.90 28.00 33.48 17.54 14.6 1.84 1.84 1.91 Dec $4,000 5.4% WACMall REITsCBL & Associates Properties, Inc. (x) CBL N MU4 H/SPEC 0.30 NM 1.78 0.18 NM 1.36 1.04 0.92 Dec $58 99.9% CMSimon Property Group, Inc. (x) SPG N MO2 H/INC 57.70 75.00 168.51 42.25 5.5 12.04 10.45 10.58 Dec $17,642 14.6% CMTaubman Centers, Inc. (x) TCO N MP3 M/INC 41.34 NM 53.40 26.24 11.7 3.52E 3.70 3.93 Dec $2,547 6.5% CMMortgage REITs & Real Estate FinanceApollo Commercial Real Estate Finance (ng) ARI N MP3 H/INC 8.23 NM 19.76 4.12 6.1 1.81 1.35 1.37 Dec $1,266 19.4% SLaArbor Realty Trust, Inc. (ng) ABR N MO2 M/INC 8.42 9.50 15.77 3.54 7.7 1.39 1.09 1.16 Dec $928 14.3% SLaAres Commercial Real Estate Corporation (ng) ACRE N SB1 M/INC 7.45 11.00 17.72 2.78 7.9 1.41 0.94 1.19 Dec $249 17.7% SLaBlackstone Mortgage Trust, Inc. (ng) BXMT N MP3 M/INC 23.59 NM 40.62 12.67 9.9 2.72 2.38 2.44 Dec $3,193 10.5% SLaBroadmark Realty Capital Inc. (ng) BRMK N MO2 M/INC 8.74 11.00 12.81 5.44 10.3 NA 0.85 1.00 Dec $1,155 8.2% SLaChimera Investment Corporation (ng) CIM N MP3 H/SPEC 8.31 NM 22.98 6.42 5.6 2.25 1.48 1.36 Dec $1,597 24.1% SLaColony Credit Real Estate, Inc. (ng) CLNC N MP3 H/SPEC 4.95 NM 16.36 2.46 11.5 0.16 0.43 0.97 Dec $871 24.2% SLaExantas Capital Corp. (ng) XAN N MP3 H/SPEC 2.00 NM 12.51 0.95 3.8 1.07 0.52 0.49 Dec $64 0.0% SLaGranite Point Mortgage Trust Inc. (ng) GPMT N MO2 H/SPEC 4.92 9.00 19.35 1.74 5.1 1.40 0.97 1.06 Dec $271 0.0% SLaGreat Ajax Corp. (g) AJX N MO2 H/INC 8.20 10.50 15.42 3.96 10.2 1.74 0.80 1.17 Dec $188 8.3% SLaiStar Inc. (ng) STAR N MO2 H/INC 10.93 16.50 17.50 5.48 NM 3.72 -0.74 0.29 Dec $836 4.0% SLaKKR Real Estate Finance Trust Inc. (ng) KREF N MO2 M/INC 16.19 19.50 22.03 6.84 9.8 1.67 1.66 1.70 Dec $898 10.6% SLaLadder Capital Corp (ng) LADR N SB1 H/INC 7.95 11.50 18.97 2.65 14.4 1.60 0.55 0.80 Dec $958 10.1% SLaMFA Financial, Inc. (ng) MFA N MP3 H/SPEC 1.69 NM 8.09 0.32 NM 0.79 UR UR Dec $766 0.0% SLaNew Residential Investment Corp. (ng) NRZ N MO2 H/SPEC 7.17 8.50 17.66 2.91 7.4 2.17 0.97 0.87 Dec $3,025 2.8% SLaNew York Mortgage Trust, Inc. (g) NYMT N MP3 H/SPEC 2.08 NM 6.47 0.98 NM 0.66 -1.52 0.34 Dec $785 0.0% SLaNexPoint Real Estate Finance, Inc. (ng) NREF N SB1 M/INC 16.33 18.00 19.50 6.34 11.1 NA 1.48 1.82 Dec $86 9.8% SLaReady Capital Corporation (ng) RC N MO2 H/SPEC 5.87 7.50 16.06 3.73 6.8 1.54 0.86 0.60 Dec $329 5.1% SLaRedwood Trust, Inc. (g) RWT N MO2 H/SPEC 5.35 7.00 18.01 2.14 NM 1.47 -7.89 0.53 Dec $614 23.9% SLaStarwood Property Trust Inc. (ng) STWD N MO2 M/INC 13.26 17.50 26.33 7.59 7.4 1.80 1.78 1.84 Dec $3,743 14.5% SLaTPG RE Finance Trust, Inc. (ng) TRTX N MO2 H/SPEC 7.41 10.00 21.30 2.45 NM 1.77 -1.26 1.32 Dec $568 23.2% SLaTwo Harbors Investment Corp. (ng) TWO N MO2 H/SPEC 4.52 6.00 15.85 2.25 7.1 1.35 0.63 0.92 Dec $1,236 44.2% SLaVelocity Financial, Inc. (ng) VEL N MO2 H/SPEC 3.89 4.50 14.90 2.24 5.7 1.47 0.68 0.76 Dec $78 0.0% SLaNet Lease REITsAgree Realty Corporation (x) ADC N SB1 M/INC 62.77 71.00 80.51 45.23 20.2 3.08 3.11 3.28 Dec $3,380 3.8% CMAlpine Income Property Trust, Inc. (x) PINE N MO2 M/INC 12.37 21.00 19.84 7.74 12.0 0.07 1.03 1.46 Dec $93 6.5% CMEPR Properties (x) EPR N MO2 H/INC 31.57 35.00 80.50 12.56 5.9 4.39 5.35 5.64 Dec $2,446 0.0% CMEssential Properties Realty Trust, Inc. (x) EPRT N MP3 M/INC 13.64 NM 29.34 6.08 10.9 1.09 1.26 1.41 Dec $1,255 6.7% CMFour Corners Property Trust, Inc. (x) FCPT N MO2 M/INC 21.62 24.00 32.50 12.80 15.0 1.44 1.44 1.50 Dec $1,520 5.6% CMNational Retail Properties, Inc. (x) NNN N MO2 M/INC 31.39 44.00 59.26 24.04 12.5 2.71 2.52 2.80 Dec $5,398 6.6% CMRealty Income Corporation (x) O N MO2 M/INC 55.31 66.00 84.92 38.00 16.7 3.29 3.32 3.54 Dec $18,995 5.1% CMSafehold Inc. SAFE N MP3 M/INC 54.79 NM 66.70 26.24 43.8 0.89 1.25 1.35 Dec $2,796 1.1% CMSpirit Realty Capital, Inc. (x) SRC N MU4 M/INC 28.43 NM 54.63 18.37 8.5 3.33E 3.10 3.27 Dec $2,927 8.8% CMSTORE Capital Corporation (x) STOR N MO2 H/INC 19.34 27.00 40.96 13.00 10.1 1.91 1.91 1.99 Dec $4,729 7.2% CMOffice/Mixed REITsArmada Hoffler Properties, Inc. (x) AHH N MP3 M/INC 8.62 NM 19.43 6.40 8.1 1.10 1.06 1.06 Dec $487 0.0% WAC


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Real Estate - USA

Brandywine Realty Trust (x) BDN N MP3 M/INC 9.65 NM 16.25 7.48 6.9 1.43 1.40 1.43 Dec $1,686 7.9% WACCity Office REIT, Inc. (co) CIO N MP3 M/INC 9.28 NM 14.50 6.50 8.5 1.16 1.09 1.16 Dec $441 6.5% WACCorporate Office Properties Trust (co) OFC N MP3 M/INC 24.97 NM 30.57 15.23 12.0 2.03 2.07 2.18 Dec $2,801 4.4% WACDouglas Emmett, Inc. (x) DEI N MO2 M/INC 29.36 40.00 45.59 23.16 13.7 2.10 2.14 2.22 Dec $5,149 3.8% WACEasterly Government Properties, Inc. (x) DEA N MP3 M/GRW 25.07 NM 29.70 17.72 20.4 1.20 1.23 1.25 Dec $1,883 4.1% WACWashington REIT (x) WRE N MO2 M/INC 21.93 28.00 32.22 18.01 14.3 1.66 1.53 1.58 Dec $1,805 5.5% WACResidential REITsAmerican Homes 4 Rent (co) AMH N SB1 M/GRW 25.24 28.00 29.89 17.50 24.1 1.12 1.05 1.20 Dec $7,596 0.8% BHApartment Investment and Management Co. (x) AIV N MO2 M/INC 36.87 60.00 55.68 24.53 13.6 2.50 2.70 2.83 Dec $5,488 4.4% BHClipper Realty Inc. (co) CLPR N MO2 M/INC 7.38 11.00 13.04 4.32 16.7 0.50 0.44 0.61 Dec $131 5.1% BHEquity Residential (x) EQR N MU4 M/INC 60.56 NM 89.55 49.62 18.2 3.49 3.33 3.35 Dec $22,536 4.0% BHEssex Property Trust, Inc. (co) ESS N MP3 M/INC 242.77 NM 334.17 175.81 17.4 13.38 13.95 14.80 Dec $15,882 3.4% BHInvestors Real Estate Trust (x) IRET N MO2 M/INC 70.90 83.00 85.24 43.58 19.4 4.04 3.65 3.90 Dec $863 3.9% BHInvitation Homes Inc. (co) INVH N SB1 M/GRW 26.30 32.00 32.70 15.64 20.7 1.25 1.27 1.39 Dec $14,301 2.3% BHMid-America Apartment Communities, Inc. (x) MAA N MO2 M/INC 116.36 120.00 148.88 82.00 19.6 6.55 5.95 6.45 Dec $13,770 3.4% BHNexPoint Residential Trust, Inc. (co) NXRT N SB1 M/GRW 31.98 37.00 52.87 21.06 15.6 1.94 2.05 2.40 Dec $777 3.9% BHSelf Storage REITsCubeSmart (x) CUBE N MO2 M/INC 28.46 28.00 36.32 19.61 17.8 1.69 1.60 1.52 Dec $5,510 4.6% JHExtra Space Storage Inc. (x) EXR N MU4 M/INC 96.75 NM 124.45 72.70 20.1 4.88 4.80 4.55 Dec $12,489 3.7% JHJernigan Capital, Inc. (ng) JCAP N MP3 H/INC 12.07 NM 21.98 8.83 15.4 2.00 0.79 0.47 Dec $281 7.6% JHLife Storage, Inc. (x) LSI N MP3 M/INC 97.48 NM 119.61 67.31 17.3 5.62 5.65 5.55 Dec $4,573 4.4% JHPublic Storage (x) PSA N MP3 M/INC 202.74 NM 266.76 155.37 19.1 10.75 10.60 10.25 Dec $35,437 3.9% JHShopping Center REITsCedar Realty Trust, Inc. (x) CDR N MP3 H/INC 0.74 NM 3.69 0.53 2.0 0.46 0.38 0.33 Dec $67 5.4% CMFederal Realty Investment Trust (x) FRT N MO2 M/INC 79.91 140.00 141.35 64.11 12.3 6.33 6.51 6.82 Dec $6,044 5.3% CMKimco Realty Corporation (x) KIM N MP3 H/INC 11.11 NM 21.86 7.45 8.5 1.47 1.31 1.34 Dec $4,805 0.0% CMKite Realty Group Trust (x) KRG N MP3 M/INC 9.70 NM 19.77 6.87 7.4 1.52 1.32 1.35 Dec $816 13.1% CMRegency Centers Corporation (x) REG Q MP3 M/INC 42.79 NM 70.26 31.80 10.9 3.90 3.91 4.00 Dec $7,258 5.6% CMRetail Opportunity Investments Corp. (x) ROIC Q MO2 H/INC 9.39 12.00 19.18 5.84 9.2 1.10 1.02 1.04 Dec $1,093 0.0% CMRPT Realty (x) RPT N MP3 H/INC 5.77 NM 15.18 4.62 6.3 1.00 0.92 0.94 Dec $465 0.0% CMSaul Centers, Inc. (x) BFS N MP3 M/INC 30.38 NM 58.49 23.58 10.2 3.08 2.98 3.08 Dec $705 7.0% CMSITE Centers Corp. (x) SITC N MO2 M/INC 5.67 12.00 15.85 3.60 5.1 1.27 1.12 1.12 Dec $1,095 0.0% CMTimber REITsCatchMark Timber Trust, Inc. (ca) CTT N MO2 M/INC 7.85 10.00 12.54 5.13 14.1 0.66 0.56 0.64 Dec $383 6.9% CMPotlatchDeltic Corporation (g) PCH Q MO2 M/INC 33.99 38.00 45.42 22.40 NM 0.82 -0.29 0.70 Dec $2,276 4.7% CMRayonier Inc. (g) RYN N MO2 M/INC 23.75 29.00 33.10 15.96 77.9 0.46 0.30 0.42 Dec $3,238 4.5% CMWeyerhaeuser Company (g) WY N MP3 H/INC 20.19 NM 31.58 13.10 NM -0.10 0.18 0.58 Dec $15,066 0.0% CM


52 Week EPS

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Real Estate - CAN

Frederic Bastien, CFA [email protected] Johann Rodrigues [email protected] Real EstateDeath CarePark Lawn Corporation PLC T MO2 H/GRW C$22.96 24.50 31.77 15.58 24.2 0.80 0.95 1.18 Dec C$664 2.0% JRHealthcareSienna Senior Living Inc. (x) SIA T MP3 M/INC C$9.55 12.00 20.35 9.00 7.1 1.38 1.35 1.47 Dec C$640 9.8% JRMortgage Investment CorporationsTimbercreek Financial Corp. TF T MP3 M/INC C$8.21 8.00 10.31 5.91 12.2 0.68 0.67 0.71 Dec C$684 8.4% JROffice/DiversifiedAllied Properties REIT (x) AP.UN T MO2 M/INC C$40.00 45.00 60.14 31.49 17.4 2.26 2.30 2.44 Dec C$4,924 4.1% JRArtis REIT (x) AX.UN T MP3 H/INC C$7.25 10.00 13.67 5.41 5.5 1.41 1.32 1.35 Dec C$1,000 7.4% JRH&R Real Estate Investment Trust (x) HR.UN T MO2 H/INC C$9.70 10.00 23.63 7.39 5.5 1.75 1.75 1.76 Dec C$2,782 7.1% JRTrue North Commercial REIT (x) TNT.UN T MO2 H/INC C$5.46 6.25 8.17 3.83 9.2 0.57 0.59 0.61 Dec C$465 10.8% JRReal Estate ServicesColliers International Group Inc. CIGI Q MO2 H/GRW 51.40 75.00 92.06 33.93 15.8 4.66 3.25 5.30 Dec $2,051 0.2% FBFirstService Corporation FSV Q MO2 M/GRW 93.33 100.00 114.87 57.38 38.7 3.00 2.41 3.25 Dec $4,052 0.9% FBResidentialBoardwalk Real Estate Investment Trust (x) BEI.UN T MO2 M/INC C$29.20 35.00 51.84 15.80 10.8 2.57 2.71 2.88 Dec C$1,357 3.4% JRBSR Real Estate Investment Trust (x) HOM.U T MP3 H/GRW 10.47 11.00 13.35 7.51 18.0 0.71 0.58 0.68 Dec $482 4.8% JRCanadian Apartment Properties REIT (x) CAR.UN T MO2 H/INC C$46.94 55.50 61.29 36.40 20.6 2.13 2.28 2.38 Dec C$7,995 2.9% JRInterRent Real Estate Investment Trust (x) IIP.UN T R M/INC C$14.63 R 19.05 10.39 R 0.48 R R Dec C$1,782 2.1% JRKillam Apartment REIT (x) KMP.UN T MO2 H/INC C$16.92 20.50 23.37 13.90 16.6 0.98 1.02 1.06 Dec C$1,660 4.0% JRMinto Apartment REIT (x) MI.UN T MO2 M/INC C$20.00 24.00 28.31 15.58 23.0 0.86 0.87 0.94 Dec C$725 2.2% JRTricon Residential Inc. TCN T MO2 M/GRW C$8.08 9.25 12.11 5.45 15.8 0.42 0.51 0.67 Dec C$1,558 3.5% JRRetailAutomotive Properties REIT (x) APR.UN T MP3 H/INC C$8.79 8.50 12.89 5.30 9.9 1.00 0.89 0.95 Dec C$331 9.1% JRChoice Properties REIT (x) CHP.UN T MO2 M/INC C$12.95 14.00 15.14 10.58 13.1 0.99E 0.95 0.98 Dec C$4,020 5.7% JRCrombie Real Estate Investment Trust (x) CRR.UN T MP3 M/INC C$13.10 15.00 16.71 9.26 11.4 1.16 1.15 1.20 Dec C$2,071 6.8% JRCT Real Estate Investment Trust (x) CRT.UN T MP3 M/INC C$13.17 12.75 17.22 9.14 11.2 1.18 1.18 1.22 Dec C$1,369 6.0% JRFirst Capital REIT (x) FCR.UN T MP3 M/INC C$13.09 18.00 22.79 11.09 12.2 1.23 1.07 1.16 Dec C$2,856 6.6% JRPlaza Retail REIT (x) PLZ.UN T MP3 H/INC C$2.96 3.25 4.76 2.65 8.5 0.39 0.35 0.36 Dec C$302 9.5% JRRioCan Real Estate Investment Trust (x) REI.UN T MP3 H/INC C$14.56 21.00 27.92 12.41 8.8 1.87 1.66 1.68 Dec C$4,619 9.9% JRSlate Retail REIT (x) SRT.U T MP3 H/INC 9.89 7.00 9.90 9.89 9.6 1.20 1.03 1.08 Dec $417 12.2% JRSmartCentres Real Estate Investment (x) SRU.UN T MP3 H/INC C$20.10 23.00 34.43 14.58 9.0 2.28 2.23 2.35 Dec C$3,915 9.2% JRSelf-StorageStorageVault Canada Inc. (x) SVI V MO2 H/GRW C$3.46 4.00 4.00 1.90 29.6 0.10 0.12 0.13 Dec C$1,258 0.3% JR


Technology & Communications

USAAdvanced Industrial Technology ........................................................................................ 56

Auto Technology ......................................................................................................... 56Application Software ....................................................................................................... 56Connected Devices .......................................................................................................... 57Data Infrastructure .......................................................................................................... 57Financial Technology & Payments ...................................................................................... 57Infrastructure Software .................................................................................................... 58Internet ........................................................................................................................ 58

eCommerce ................................................................................................................ 58Internet & Advertising Technology .................................................................................. 58Online Advertising ....................................................................................................... 59

IT Services ..................................................................................................................... 59IT Supply Chain .............................................................................................................. 59Semiconductors ............................................................................................................. 59Telecommunications Services ........................................................................................... 60

Data Centers .............................................................................................................. 60Satellite ..................................................................................................................... 60Towers ...................................................................................................................... 60Wireless ..................................................................................................................... 60Wireline ..................................................................................................................... 60

CANIT Hardware ................................................................................................................... 61Software/IT Services ........................................................................................................ 61


52 Week EPS

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Technology & Communications - USA

Chris Caso [email protected] Davis [email protected] Fairbanks [email protected] Gesuale [email protected] Kessler, CFA [email protected] Leopold [email protected]

Frank G. Louthan, IV [email protected] Majek [email protected] Peterson, CFA [email protected] Prentiss [email protected] Sklar, CPA, CFA [email protected] Tindle, CFA [email protected]

Advanced Industrial TechnologyAeroVironment, Inc. (g) AVAV Q MP3 H/GRW 70.83 NM 72.70 45.00 42.1 1.75 1.68 1.76 Apr $1,700 0.0% BGAxon Enterprise, Inc. (ng) AAXN Q MP3 M/GRW 75.96 NM 90.10 49.80 63.7 1.04 1.19 1.41 Dec $4,545 0.0% BGCognex Corporation (g) CGNX Q MO2 M/GRW 56.74 60.00 64.28 35.20 91.6 1.16 0.62 1.08 Dec $9,742 0.4% BGCubic Corporation (ng) CUB N SB1 H/GRW 41.21 62.00 75.20 30.86 13.9 3.08 2.97 4.03 Sep $1,290 0.7% BGFLIR Systems, Inc. (ng) FLIR Q SB1 H/GRW 46.20 54.00 59.44 23.85 22.1 2.23 2.09 2.65 Dec $6,045 1.5% BGFortive Corporation (ng) FTV N MP3 M/GRW 60.98 NM 83.18 37.31 21.4 3.48 2.85 3.82 Dec $20,542 0.5% BGIPG Photonics (g) IPGP Q MO2 H/GRW 155.40 175.00 166.49 98.04 48.1 3.36 3.23 4.72 Dec $8,241 0.0% BGiRobot Corporation (g) IRBT Q MP3 H/GRW 73.72 NM 96.58 32.79 NM 2.97 0.44 1.23 Dec $2,055 0.0% BGL3Harris Technologies, Inc. (ng) LHX N MO2 H/GRW 199.45 239.00 230.99 142.01 17.5 10.17 11.43 12.83 Dec $43,055 1.7% BGnLIGHT, Inc. (ng) LASR Q SB1 M/GRW 21.56 22.00 23.72 9.04 NM 0.02 -0.27 0.03 Dec $830 0.0% BGRoper Technologies (ng) ROP N MO2 M/GRW 393.80 410.00 395.00 240.00 32.4 13.04 12.17 13.05 Dec $41,113 0.5% BGTrimble Inc. (ng) TRMB Q MO2 H/GRW 39.12 44.00 46.67 20.01 23.1 1.99 1.69 1.95 Dec $9,771 0.0% BGAuto TechnologyAptiv PLC (ng) APTV N MO2 M/GRW 75.35 82.00 99.04 29.22 67.1 4.80 1.12 4.18 Dec $19,205 0.0% BGCerence Inc. (ng) CRNC Q MO2 M/GRW 29.91 40.00 34.48 11.39 37.9 2.02 0.79 1.43 Sep $1,092 0.0% BGVisteon Corporation (ng) VC Q MP3 M/GRW 72.00 NM 105.99 38.69 NM 2.77 -0.09 3.54 Dec $2,004 0.0% BG

Application SoftwareAvalara, Inc. (ng) AVLR N MO2 H/GRW 107.06 110.00 110.32 55.50 NM -0.08 -0.22 -0.03 Dec $8,396 0.0% BP, ASBenefitfocus, Inc. (ng) BNFT Q MO2 H/GRW 12.73 15.00 29.14 6.09 NM -0.69 -0.61 -0.21 Dec $408 0.0% BP, ASBlackbaud, Inc. (ng) BLKB Q MP3 M/GRW 58.61 NM 97.35 38.22 27.3 2.24 2.15 2.37 Dec $2,908 0.8% BP, ASBlackLine, Inc. (ng) BL Q MP3 H/GRW 74.30 NM 74.89 38.32 NM 0.38 0.44 0.54 Dec $4,190 0.0% BP, ASBox, Inc. (ng) BOX N MO2 H/GRW 19.98 24.00 21.08 8.64 39.2 -0.12 0.03A 0.51 Jan $3,288 0.0% BP, ASCoupa Software Incorporated (ng) COUP Q MO2 H/GRW 227.51 135.00 231.50 99.01 NM 0.17 0.52A 0.32 Jan $15,161 0.0% BP, ASEverbridge, Inc. (ng) EVBG Q MO2 H/GRW 146.26 130.00 165.79 59.85 NM -0.21 -0.17 0.17 Dec $5,025 0.0% BP, ASHubSpot, Inc. (ng) HUBS N MO2 H/GRW 199.94 190.00 207.98 90.83 NM 1.49 0.92 1.50 Dec $8,723 0.0% BP, ASManhattan Associates, Inc. (ng) MANH Q MP3 M/GRW 88.40 NM 91.56 35.20 57.9 1.74 1.53 1.64 Dec $5,613 0.0% BP, ASMiX Telematics Limited ($R, ng, r) MIXT N SB1 H/GRW 8.55 12.00 16.96 6.64 NM 0.44 0.40A -0.08 Mar $206 3.2% BP, ASModel N, Inc. (ng) MODN N MP3 H/GRW 32.12 NM 35.84 15.00 NM 0.23 0.30 0.39 Sep $1,101 0.0% BP, ASPaylocity Holding Corporation (ng) PCTY Q MO2 H/GRW 130.00 140.00 150.73 66.98 78.1 1.38 1.66 1.75 Jun $6,980 0.0% BP, ASPluralsight, Inc. (ng) PS Q MO2 H/GRW 20.83 20.00 33.72 6.59 NM -0.31 -0.39 -0.31 Dec $2,977 0.0% BP, ASQ2 Holdings, Inc. (ng) QTWO N MO2 H/GRW 82.62 95.00 93.90 47.17 NM 0.42 -0.02 0.35 Dec $4,395 0.0% BP, ASRingCentral, Inc. (ng) RNG N SB1 H/GRW 274.25 290.00 292.48 110.34 NM 0.82 0.93 1.16 Dec $24,107 0.0% BP, ASsalesforce.com, inc. (ng) CRM N SB1 H/GRW 174.79 230.00 195.72 115.29 59.3 2.75 3.01A 2.95 Jan $157,117 0.0% BP, ASShopify Inc. (ng) SHOP N MP3 H/GRW 757.80 NM 844.00 262.17 NM 0.30 0.48 0.50 Dec $90,443 0.0% BP, ASUpland Software, Inc. (ng) UPLD Q MO2 H/GRW 34.55 40.00 54.87 20.75 16.4 2.48 2.11 2.44 Dec $874 0.0% BP, AS


52 Week EPS

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Veeva Systems Inc. (ng) VEEV N MO2 H/GRW 218.87 230.00 219.72 118.11 85.9 1.63 2.19A 2.55 Jan $32,756 0.0% BP, ASWorkiva Inc. (ng) WK N MP3 H/GRW 44.54 NM 64.11 22.01 NM -0.20 -0.50 -0.54 Dec $2,100 0.0% BP, AS

Connected DevicesAlarm.com Holdings (ar) ALRM Q SB1 H/GRW 47.29 55.00 59.73 32.00 34.7 1.54 1.36 1.46 Dec $2,301 0.0% ATApple Inc. (g) AAPL Q MO2 M/GRW 317.94 340.00 327.85 170.27 26.7 11.89 11.89 15.20 Sep $1,378,056 1.0% CC, MFArlo Technologies, Inc. (ng) ARLO N MP3 H/GRW 2.21 NM 5.13 1.20 NM -1.42 -1.20 -0.86 Dec $172 0.0% ATMotorola Solutions, Inc. (ar) MSI N MO2 M/GRW 135.33 175.00 187.49 120.77 18.4 7.96 7.35 8.40 Dec $23,016 1.9% ATNETGEAR, Inc. (ar) NTGR Q MO2 M/GRW 25.73 30.00 36.87 15.01 18.4 1.87 1.40 1.80 Dec $760 0.0% ATSonos, Inc. (ng) SONO Q SB1 H/GRW 10.86 16.00 16.88 6.58 85.2 0.36 0.13 0.35 Sep $1,183 0.0% AT

Data InfrastructureApplied Optoelectronics, Inc. (ng) AAOI Q MP3 H/GRW 8.83 NM 15.98 5.00 NM -0.86 -0.78 0.10 Dec $180 0.0% SLArista Networks (ng) ANET N MP3 H/SPEC 233.46 NM 289.45 156.63 27.5 9.78 8.48 10.33 Dec $17,673 0.0% SLCambium Networks Corporation (ng) CMBM Q MO2 H/GRW 4.38 8.00 11.75 3.57 10.0 0.47 0.44 0.72 Dec $112 0.0% SLCasa Systems, Inc. (ng) CASA Q MU4 H/GRW 4.35 NM 8.03 1.85 NM -0.51 0.02 0.13 Dec $361 0.0% SLCiena Corporation (ng) CIEN N MO2 H/GRW 55.26 61.00 56.76 30.58 20.9 2.11 2.64 3.20 Oct $8,482 0.0% SLCisco Systems (ng) CSCO Q MO2 M/INC 47.82 49.00 58.26 32.40 15.1 3.09 3.16 3.18 Jul $201,910 3.0% SLCommScope Holding Company, Inc. (ng) COMM Q MO2 H/GRW 10.31 12.00 17.46 5.50 6.3 2.15 1.63 2.24 Dec $2,019 0.0% SLDell Technologies Inc. (ng) DELL N MO2 H/GRW 45.58 54.00 67.31 25.51 7.6 5.95 7.40A 6.03 Jan $36,470 0.0% SLF5 Networks, Inc. (ng) FFIV Q MP3 H/GRW 144.92 NM 153.99 79.78 15.7 10.38 9.25 9.83 Sep $8,826 0.0% SLHarmonic Inc. (ng) HLIT Q MO2 H/GRW 5.39 7.50 8.57 4.44 NM 0.30 -0.16 0.49 Dec $521 0.0% SLHewlett Packard Enterprise Company (ng) HPE N MP3 H/GRW 9.71 NM 17.59 7.43 7.6 1.77 1.27 1.66 Oct $12,510 4.9% SLII-VI Incorporated (ng) IIVI Q MP3 H/GRW 47.53 NM 48.68 19.00 22.9 2.55 2.08 2.26 Jun $4,337 0.0% SLInfinera Corporation (ng) INFN Q MP3 H/GRW 4.98 NM 8.35 2.80 NM -0.60 -0.43 0.20 Dec $931 0.0% SLJuniper Networks, Inc. (ng) JNPR N MO2 H/GRW 24.26 27.00 27.57 15.20 15.2 1.72 1.60 1.78 Dec $8,039 3.3% SLLM Ericsson Telephone Company (ng, r) ERIC Q MO2 M/GRW 9.14 9.00 10.06 6.15 19.9 0.46 0.46 0.61 Dec $30,474 0.9% SLLumentum Holdings Inc. (ng) LITE Q MO2 H/GRW 73.32 97.00 93.23 40.28 14.4 4.25 5.09 5.01 Jun $5,492 0.0% SLNeoPhotonics Corporation (ng) NPTN N MP3 H/GRW 8.67 NM 9.99 3.52 15.2 -0.00 0.57 0.67 Dec $423 0.0% SLNetApp, Inc. (ng) NTAP Q MP3 H/GRW 44.54 NM 65.38 34.66 13.7 4.52 4.02A 3.25 Apr $9,851 4.3% SLNokia (ng, r) NOK N SB1 H/GRW 3.95 5.50 5.77 2.34 15.7 0.25 0.25 0.36 Dec $22,333 2.8% SLNutanix, Inc. (ng) NTNX Q MP3 H/SPEC 24.06 NM 37.86 11.31 NM -1.51 -2.65 -2.49 Jul $4,684 0.0% SLPure Storage, Inc. (ng) PSTG N MO2 H/SPEC 17.61 21.00 20.50 7.93 66.2 0.21 0.25A 0.27 Jan $5,090 0.0% SL

Financial Technology & PaymentsBottomline Technologies (ar) EPAY Q MO2 M/GRW 50.60 51.00 57.22 27.82 42.1 1.35 1.20 1.31 Jun $2,222 0.0% JDEveri Holdings Inc. (g) EVRI N SB1 H/GRW 6.21 14.00 14.88 1.55 16.4 0.21 0.38 0.61 Dec $528 0.0% JDEVERTEC, Inc. (ar) EVTC N MO2 M/GRW 29.12 32.00 37.38 18.21 19.1 1.96 1.52 1.98 Dec $2,093 0.7% JDFidelity National Information Services (ar) FIS N SB1 M/GRW 138.83 167.00 158.21 91.68 24.9 5.57 5.59 6.62 Dec $85,761 1.0% JDFiserv, Inc. (ar) FISV Q MO2 M/GRW 106.77 125.00 125.05 73.50 24.6 4.00 4.35 5.32 Dec $71,480 0.0% JDFleetCor Technologies, Inc. (ng) FLT N MP3 M/GRW 243.79 NM 329.85 168.51 23.2 11.79 10.52 12.71 Dec $20,430 0.0% JDGlobal Payments Inc. (ar) GPN N MO2 M/GRW 179.49 188.00 209.62 105.54 28.8 6.16 6.23 8.10 Dec $53,687 0.4% JDGreenSky, Inc. (ar) GSKY Q MP3 H/GRW 4.02 NM 13.40 3.05 21.9 0.57 0.18 0.35 Dec $722 0.0% JDi3 Verticals, Inc. (ar) IIIV Q MO2 M/GRW 28.86 30.00 37.85 13.01 41.1 0.83 0.70 1.03 Sep $807 0.0% JDJack Henry & Associates, Inc. (g) JKHY Q MO2 M/GRW 180.86 191.00 195.03 123.64 47.3 3.52 3.83 3.90 Jun $13,857 1.0% JDMastercard, Inc. (ar) MA N MO2 M/GRW 300.89 301.00 347.25 199.99 48.9 7.77 6.15 8.51 Dec $302,105 0.5% JDPayPal Holdings, Inc. (ar) PYPL Q MO2 M/GRW 155.01 171.00 155.33 82.07 46.3 3.10 3.35 4.21 Dec $181,979 0.0% JD


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Square, Inc. (ar) SQ N MU4 H/GRW 81.08 NM 87.25 32.33 NM 0.79 -0.19 0.77 Dec $35,951 0.0% JDVisa Inc. (ar) V N MO2 M/GRW 195.24 204.00 214.17 133.93 39.4 5.45 4.96 5.94 Sep $409,662 0.6% JDWEX Inc. (ng) WEX N MP3 M/GRW 148.08 NM 236.51 71.12 17.8 9.20 8.33 10.02 Dec $6,443 0.0% JD

Infrastructure SoftwareAkamai Technologies, Inc. (ng) AKAM Q MO2 H/GRW 105.80 110.00 108.25 73.19 21.9 4.49 4.84 5.33 Dec $17,168 0.0% RMAlteryx, Inc. (ng) AYX N MP3 H/GRW 143.94 NM 160.11 75.17 NM 0.94 0.60 0.87 Dec $9,501 0.0% RMAtlassian (ng) TEAM Q MP3 H/GRW 185.30 NM 190.21 107.00 NM 0.86 1.10 1.24 Jun $45,936 0.0% RMCitrix Systems, Inc. (ng) CTXS Q MO2 H/GRW 148.12 155.00 155.10 90.28 26.4 5.70 5.60 6.08 Dec $18,285 0.9% RMCloudera, Inc. (ng) CLDR N MP3 H/GRW 10.25 NM 12.22 4.76 47.2 -0.40 -0.13A 0.22 Jan $3,027 0.0% RMDatadog, Inc. (ng) DDOG Q MP3 H/GRW 71.27 NM 75.00 27.55 NM -0.01 0.04 -0.04 Dec $21,337 0.0% RMDynatrace, Inc. (ng) DT N MO2 H/GRW 38.47 40.00 39.10 17.05 96.7 0.17 0.31A 0.40 Mar $10,805 0.0% RMFastly, Inc. (ng) FSLY N MP3 H/GRW 43.14 NM 45.53 10.63 NM -0.65 -0.15 -0.16 Dec $4,437 0.0% RMLimelight Networks, Inc. (ng) LLNW Q MP3 H/SPEC 4.94 NM 7.00 2.20 74.3 -0.02 0.07 0.09 Dec $591 0.0% RMMicrosoft Corporation (ng) MSFT Q SB1 M/GRW 183.25 208.00 190.70 119.01 32.3 4.75 5.67 6.19 Jun $1,389,665 1.1% RMMobileIron, Inc. (ng) MOBL Q MP3 H/GRW 4.52 NM 7.79 2.94 NM -0.06 -0.15 -0.13 Dec $521 0.0% RMNew Relic, Inc. (ng) NEWR N SB1 H/GRW 66.15 75.00 101.82 33.49 NM 0.60 0.66A 0.35 Mar $3,958 0.0% RMNortonLifeLock Inc. (ng) NLOK Q MP3 H/GRW 22.78 NM 23.02 10.11 21.9 1.59 1.04 1.19 Mar $13,418 2.2% RMOracle Corporation (ng) ORCL N MO2 M/GRW 53.77 56.00 60.50 39.71 14.0 3.52 3.85 3.95 May $169,568 1.8% RMPing Identity Holding Corp. (ng) PING N MO2 H/GRW 28.31 26.00 29.80 12.02 NM 0.59 0.28 0.33 Dec $2,267 0.0% RMRapid7, Inc. (ng) RPD Q SB1 H/GRW 48.89 64.00 66.01 31.34 NM 0.08 -0.17 -0.12 Dec $2,469 0.0% RMServiceNow, Inc. (ng) NOW N SB1 H/GRW 387.93 385.00 396.15 213.99 90.5 3.32 4.29 5.27 Dec $73,978 0.0% RMSplunk Inc. (ng) SPLK Q MO2 H/GRW 185.84 185.00 187.11 93.92 NM 1.33 1.88A -0.21 Jan $29,519 0.0% RMVMware, Inc. (ng) VMW N MO2 H/GRW 156.27 175.00 193.75 86.00 26.6 5.98 6.24A 5.87 Feb $65,497 0.0% RM

InterneteCommerceAlibaba Group Holding Ltd. (ng, r) BABA N SB1 H/GRW 207.39 290.00 231.14 147.95 23.9 5.66 7.57A 8.68 Mar $556,369 0.0% AKAmazon.com, Inc. (ng) AMZN Q MO2 M/GRW 2,442.37 2,525.00 2,525.45 1,626.03 77.3 31.04 31.59 47.62 Dec $1,218,205 0.0% AKCarGurus, Inc. (g) CARG Q MP3 H/GRW 25.98 NM 40.91 14.25 NM 0.37 0.05 0.28 Dec $2,927 0.0% AKChegg, Inc. (g) CHGG N MO2 H/GRW 61.08 60.00 67.98 25.89 NM -0.07 0.16 0.38 Dec $7,553 0.0% AKChewy, Inc. (g) CHWY N MP3 H/SPEC 44.44 NM 47.55 20.62 NM -0.63 -0.49 -0.37 Jan $18,626 0.0% AKeBay Inc. (ng) EBAY Q MP3 M/GRW 45.54 NM 45.65 26.02 14.7 2.71 3.09 3.41 Dec $32,000 1.4% AKGrubHub Inc. (ng) GRUB N MP3 H/GRW 56.74 NM 80.25 29.35 NM 0.79 -0.30 0.19 Dec $5,217 0.0% AKJumia Technologies AG (g) JMIA N MP3 H/SPEC 4.49 NM 28.28 2.15 NM -3.18 -2.12 -1.97 Dec $171 0.0% AKRevolve Group, Inc. (g) RVLV N MO2 H/SPEC 14.06 18.00 48.36 7.17 NM 0.90 0.09 0.32 Dec $997 0.0% AKThe RealReal, Inc. (g) REAL Q MO2 H/GRW 13.41 16.00 30.05 5.00 NM -1.16 -1.50 -1.16 Dec $1,165 0.0% AKWayfair, Inc. (ng) W N MP3 H/GRW 171.55 NM 197.06 21.70 NM -8.03 -3.82 -1.84 Dec $16,235 0.0% AKInternet & Advertising TechnologyCardlytics, Inc. (f, g) CDLX Q MP3 H/GRW 68.09 NM 107.50 22.22 NM -0.71 -2.19 -1.40 Dec $1,836 0.0% AKCriteo S.A. (ar, r) CRTO Q MO2 H/GRW 10.25 14.00 20.77 5.89 10.9 2.67 0.94 1.25 Dec $632 0.0% AKGoDaddy Inc. (g) GDDY N MO2 H/GRW 77.25 80.00 78.99 40.25 69.6 0.77 1.11 1.64 Dec $12,866 0.0% AKTechTarget, Inc. (ng) TTGT Q MO2 M/GRW 27.49 28.00 30.00 16.82 26.9 0.98 1.02 1.21 Dec $757 0.0% AKThe Trade Desk, Inc. (g) TTD Q MP3 H/GRW 311.56 NM 327.35 136.00 NM 2.24 1.33 1.97 Dec $14,350 0.0% AKWix.com Ltd. (ng) WIX Q MO2 H/GRW 222.33 222.00 222.75 76.81 NM 1.17 0.61 1.56 Dec $11,539 0.0% AK


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Online AdvertisingAlphabet Inc. (g) GOOG Q MO2 M/GRW 1,428.92 1,425.00 1,532.11 1,013.54 37.5 49.16 38.14 49.62 Dec $975,409 0.0% AKEverQuote, Inc. (g) EVER Q MO2 H/GRW 53.92 49.00 57.27 10.38 NM -0.28 -0.24 -0.03 Dec $1,528 0.0% AKFacebook, Inc. (g) FB Q SB1 H/GRW 225.09 240.00 240.90 137.10 31.4 6.44 7.17 8.80 Dec $641,405 0.0% AKSnap Inc. (ng) SNAP N MP3 H/GRW 18.94 NM 19.75 7.89 NM -0.17 -0.21 0.05 Dec $27,377 0.0% AKTwitter, Inc. (ng) TWTR N MP3 H/GRW 30.97 NM 45.85 20.00 63.8 2.37 0.49 0.78 Dec $24,300 0.0% AK

IT ServicesBooz Allen Hamilton Holding Corp. (ng) BAH N MO2 H/GRW 79.76 84.00 82.00 54.37 22.3 2.76 3.17A 3.57 Mar $11,002 1.6% BGCACI International Inc (g) CACI N MO2 H/GRW 250.78 295.00 288.59 156.15 20.5 10.46 12.20 13.75 Jun $6,292 0.0% BGMAXIMUS, Inc. (ng) MMS N MP3 H/GRW 72.02 NM 82.02 46.42 24.1 3.72 2.99 3.67 Sep $4,416 1.6% BGNIC Inc. (g) EGOV Q SB1 M/GRW 24.06 28.00 25.80 15.48 31.6 0.75 0.76 0.93 Dec $1,611 1.5% BG

IT Supply ChainArrow Electronics, Inc. (ar) ARW N MP3 M/GRW 69.08 NM 85.80 39.25 10.6 7.49 6.50 7.60 Dec $5,435 0.0% ATAvnet, Inc. (ar) AVT Q SB1 M/GRW 27.24 44.00 46.41 17.85 22.9 4.11 1.19 1.50 Jun $2,690 3.1% ATCDW Corporation (ar) CDW Q MP3 M/GRW 110.91 NM 146.09 73.39 20.1 6.11 5.52 6.05 Dec $15,785 1.4% ATConnection (ar) CNXN Q MP3 M/GRW 43.28 NM 56.33 30.10 14.6 3.12 2.97 3.10 Dec $1,130 0.0% ATFlex Ltd. (c) FLEX Q MP3 H/GRW 9.71 NM 14.00 5.36 9.4 1.14 1.23A 1.03 Mar $4,832 0.0% ATInsight Enterprises, Inc. (ng) NSIT Q MP3 M/GRW 51.26 NM 73.22 28.25 9.1 5.42 5.60 6.40 Dec $1,797 0.0% ATJabil Inc. (c) JBL N SB1 H/GRW 29.92 40.00 44.20 17.63 11.3 2.98 2.65 3.45 Aug $4,510 1.1% ATPlexus Corp. (ng) PLXS Q MP3 H/GRW 64.22 NM 86.53 35.16 19.8 3.43 3.25 4.00 Sep $1,875 0.0% ATScanSource, Inc. (ng) SCSC Q MO2 H/GRW 24.65 33.00 39.01 13.78 11.5 3.36 2.15 2.45 Jun $625 0.0% ATSYNNEX Corporation (ng) SNX N SB1 H/GRW 106.65 120.00 153.07 52.06 25.1 13.26 4.25 12.05 Nov $5,490 0.0% ATTech Data Corporation (ng) TECD Q MP3 M/GRW 136.24 NM 151.47 80.20 12.4 11.38 12.59A 11.00 Jan $4,837 0.0% AT

SemiconductorsAnalog Devices, Inc. (ng) ADI Q MO2 M/GRW 112.95 125.00 127.30 79.08 26.7 5.15 4.23 5.00 Oct $41,613 2.2% CC, MFBroadcom Inc. (ng) AVGO Q MP3 M/GRW 291.27 NM 331.58 155.67 12.8 21.30 22.74 24.36 Oct $116,447 4.5% CC, MFIntel Corporation (ng) INTC Q MP3 M/GRW 62.93 NM 69.29 43.20 13.1 4.89 4.80 4.73 Dec $266,446 2.1% CC, MFMACOM Technology Solutions Holdings Inc. (ng) MTSI Q MP3 M/GRW 31.75 NM 32.94 13.53 48.1 -0.29 0.66 0.78 Sep $2,118 0.0% CC, MFMarvell Technology Group Ltd. (ng) MRVL Q MP3 M/GRW 32.62 NM 32.96 16.45 35.8 1.19 0.66A 0.91 Jan $21,630 0.7% CC, MFMaxim Integrated (ng) MXIM Q MP3 M/GRW 57.68 NM 65.73 41.93 26.3 2.44 2.19 1.88 Jun $15,379 3.3% CC, MFMicrochip Technology Incorporated (ng) MCHP Q SB1 M/GRW 96.02 100.00 112.47 53.15 18.5 6.55 5.62A 5.20 Mar $23,557 1.5% CC, MFMicron Technology, Inc. (ng) MU Q SB1 H/GRW 47.91 60.00 61.19 31.13 20.4 6.35 2.35 4.65 Aug $53,285 0.0% CC, MFMonolithic Power Systems, Inc. (ng) MPWR Q MO2 M/GRW 209.75 215.00 219.57 116.22 53.6 3.88 3.91 4.97 Dec $9,384 1.0% CC, MFNVIDIA Corporation (ng) NVDA Q MO2 M/GRW 355.02 370.00 367.27 132.60 43.0 6.64 5.79A 8.25 Jan $218,337 0.2% CC, MFNXP Semiconductors N.V. (ng) NXPI Q MO2 M/GRW 96.10 115.00 139.59 58.41 20.4 7.38 4.71 6.19 Dec $26,815 1.6% CC, MFON Semiconductor Corporation (ng) ON Q MO2 M/GRW 16.49 18.00 25.92 8.17 41.0 1.48 0.40 0.89 Dec $6,761 0.0% CC, MFQorvo, Inc. (ng) QRVO Q MO2 H/GRW 104.74 130.00 122.37 60.37 19.0 5.77 6.32A 5.50 Mar $12,017 0.0% CC, MFQUALCOMM Incorporated (ng) QCOM Q SB1 M/GRW 80.88 110.00 96.17 58.00 21.5 3.54 3.75 6.44 Sep $90,984 3.2% CC, MFSiTime Corporation (ng) SITM Q MO2 H/GRW 29.81 25.00 36.91 15.42 NM -0.63 -0.36 0.28 Dec $449 0.0% CC, MFSkyworks Solutions, Inc. (ng) SWKS Q MO2 M/GRW 118.54 120.00 128.48 66.29 21.3 6.16 5.58 6.63 Sep $19,777 1.5% CC, MFTexas Instruments Incorporated (ng) TXN Q MP3 M/INC 118.74 NM 135.70 93.09 29.1 5.46 4.08 4.97 Dec $108,976 3.0% CC, MFXilinx, Inc. (ng) XLNX Q MP3 M/GRW 91.95 NM 133.00 67.68 39.9 3.48 3.36A 2.31 Mar $22,359 1.7% CC, MF


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Telecommunications ServicesData CentersCoreSite Realty Corporation (af) COR N MP3 H/GRW 124.82 NM 128.47 90.07 25.1 5.09 4.98 5.71 Dec $6,176 3.9% FGLCyrusOne Inc. (af) CONE Q MO2 H/GRW 74.34 75.00 79.73 43.72 19.2 3.50 3.88 4.31 Dec $8,564 2.7% FGLDigital Realty Trust, Inc. (af) DLR N MP3 M/INC 143.56 NM 158.36 105.00 25.9 5.93 5.55 6.22 Dec $38,519 3.1% FGLEquinix, Inc. (af) EQIX Q MP3 H/GRW 697.63 NM 715.75 471.80 29.0 22.83 24.05 26.30 Dec $61,747 1.5% FGLGDS Holdings Limited (CNY, g, r) GDS Q SB1 H/GRW 57.00 70.00 65.34 30.90 NM -0.40 -0.15 0.30 Dec $8,186 0.0% FGLQTS Realty Trust, Inc. (af) QTS N MP3 H/GRW 68.60 NM 68.80 42.64 26.2 2.45 2.62 2.94 Dec $4,143 2.7% FGLSwitch, Inc. (g) SWCH N SB1 H/GRW 19.11 22.00 19.56 10.30 NM 0.21 0.16 0.25 Dec $6,108 0.6% FGLSatelliteEchoStar Corporation (cb) SATS Q SB1 H/GRW 31.16 54.00 45.15 25.23 NM 579 533 592 Dec $3,050 0.0% RPGogo Inc. (cc) GOGO Q MP3 H/GRW 2.08 NM 7.23 1.33 NM 146 35 59 Dec $174 0.0% RPIntelsat S.A. (ae) INTEQ O MP3 H/GRW 0.40 NM 27.29 0.13 NM 1,481 1,363 1,319 Dec $57 0.0% RPIridium Communications Inc. (ae) IRDM Q MO2 H/GRW 23.00 28.00 32.08 16.87 NM 332 338 348 Dec $3,041 0.0% RPKVH Industries, Inc. (cc) KVHI Q MO2 H/GRW 9.19 10.00 11.64 6.36 NM -4 -16 9 Dec $165 0.0% RPORBCOMM Inc. (ae) ORBC Q SB1 H/GRW 2.74 5.00 8.44 1.24 NM 63 51 69 Dec $215 0.0% RPViaSat, Inc. (ae) VSAT Q MO2 H/GRW 42.00 64.00 91.95 25.10 NM 339 458A 461 Mar $2,609 0.0% RPTowersAmerican Tower Corporation (ad) AMT N MO2 H/GRW 258.17 211.00 260.43 174.32 33.7 7.28 7.65 8.57 Dec $114,449 1.7% RPCrown Castle International Corp. (ad) CCI N MP3 M/INC 172.16 NM 172.54 114.18 39.5 4.23 4.36 5.26 Dec $71,748 2.8% RPSBA Communications Corporation (ad) SBAC Q MO2 H/GRW 314.13 273.00 317.11 203.40 34.9 8.24 8.99 10.12 Dec $35,063 0.6% RPWirelessATN International, Inc. (cb) ATNI Q MP3 M/GRW 59.40 NM 79.64 37.01 0.6 109 101 122 Dec $949 1.1% RPDISH Network Corporation (g) DISH Q SB1 H/GRW 31.65 48.00 44.48 17.09 13.9 2.73 2.28 2.71 Dec $16,590 0.0% RPLandmark Infrastructure Partners LP (af) LMRK Q SB1 M/INC 10.45 14.00 18.45 7.05 10.0 1.31 1.05 1.40 Dec $530 7.7% RPShenandoah Telecommunications Company (cc) SHEN Q MP3 M/GRW 52.61 NM 59.93 29.61 NM 261 247 266 Dec $2,622 0.6% RPTelephone and Data Systems, Inc. (oi) TDS N SB1 H/GRW 20.49 29.00 34.00 14.05 NM 1,122 1,073 1,064 Dec $2,341 3.3% RPT-Mobile US Inc. (cb) TMUS Q MO2 H/GRW 100.04 105.00 102.73 63.50 NM 13,365 24,574 22,109 Dec $123,625 0.0% RPUnited States Cellular Corporation (oi) USM N SB1 H/GRW 31.51 40.00 51.20 23.91 NM 832 783 772 Dec $2,690 0.0% RPWirelineAltice USA, Inc. (g) ATUS N SB1 H/GRW 25.72 35.00 31.78 15.96 32.1 0.21 0.80 1.14 Dec $15,266 0.0% FGLAT&T Inc. (ng) T N MP3 M/INC 30.86 NM 39.70 26.08 10.2 3.57 3.02 3.18 Dec $219,878 6.7% FGLCable One, Inc. (g) CABO N MP3 M/GRW 1,886.89 NM 2,044.41 1,031.39 51.8 31.13 36.44 38.98 Dec $11,359 0.5% FGLCenturyLink, Inc. (ng) CTL N MU4 H/INC 9.83 NM 15.30 8.16 7.4 1.31 1.33 1.43 Dec $10,788 10.2% FGLCharter Communications, Inc. (fc) CHTR Q MO2 H/GRW 544.00 550.00 546.54 345.67 17.9 19.10 30.47 29.90 Dec $112,314 0.0% FGLCogent Communications Holdings, Inc. (fa) CCOI Q MU4 M/INC 76.52 NM 92.96 53.24 35.6 1.96 2.15 2.63 Dec $3,608 3.6% FGLComcast Corporation (ng) CMCSA Q MP3 M/GRW 39.60 NM 47.74 31.70 16.6 3.13 2.39 3.20 Dec $181,115 2.3% FGLGTT Communications, Inc. (fc) GTT N MO2 H/GRW 7.99 10.00 25.22 4.67 4.3 1.73 1.87 2.26 Dec $470 0.0% FGLUniti Group Inc. (af) UNIT Q SB1 H/INC 8.25 13.00 11.37 4.86 4.8 2.12 1.72 1.30 Dec $1,601 7.3% FGLVerizon Communications Inc. (ng) VZ N MO2 M/INC 57.38 61.00 62.22 48.84 12.1 4.81 4.73 4.71 Dec $237,438 4.3% FGLWideOpenWest, Inc. (g) WOW N MP3 H/GRW 6.51 NM 8.12 2.95 15.5 0.43 0.42 0.63 Dec $564 0.0% FGL


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Technology & Communications - CAN

Steven Li, CFA [email protected] IT HardwareBaylin Technologies Inc. BYL T MP3 H/GRW C$1.10 2.00 4.04 0.47 29.4 -0.17 0.04 0.13 Dec C$44 0.0% SLiEvertz Technologies Limited (ar, f) ET T MO2 M/GRW C$15.10 19.00 19.27 9.69 15.4 0.99 0.98 1.07 Apr C$1,154 4.8% SLiSierra Wireless, Inc. SWIR Q MP3 H/GRW 8.76 12.00 13.09 4.31 NM -0.01 -0.42 -0.02 Dec $318 0.0% SLi

Software/IT ServicesBlackBerry Limited (f) BB N MP3 H/GRW 4.64 7.50 9.09 2.70 80.3 0.24 0.12A 0.06 Feb $2,578 0.0% SLiCGI Group GIB.A T MO2 M/GRW C$87.98 102.00 114.49 67.23 17.9 4.70 4.92 5.38 Sep C$23,691 0.0% SLiConstellation Software Inc. CSU T MP3 M/GRW C$1565.13 1,500.00 1,637.10 1,076.34 43.4 27.36 36.06 43.56 Dec C$33,165 0.3% SLiConverge Technology Solutions Corp. CTS V MO2 H/GRW C$1.41 2.35 1.72 0.68 10.5 -0.14 0.13 0.28 Dec C$129 0.0% SLiLightspeed POS Inc. LSPD T MO2 H/GRW C$32.86 38.00 49.70 10.50 NM -5.53 -0.62A -0.60 Mar C$3,030 0.0% SLiMaxar Technologies Ltd. MAXR N MP3 H/GRW 15.07 17.00 21.45 5.79 9.4 0.58 1.60 2.29 Dec $906 0.4% SLimCloud Technologies Corp. MCLD V MO2 H/GRW C$4.09 7.00 6.50 3.45 NM -2.34 -1.30 -0.70 Dec C$84 0.0% SLiNexJ Systems Inc. NXJ T MP3 H/GRW C$0.50 1.50 1.23 0.40 NM -0.35E -0.20 Dec C$11 0.0% SLiOpen Text Corporation OTEX Q MO2 M/GRW 41.54 45.00 47.84 29.11 15.3 2.76 2.72 3.10 Jun $11,284 1.7% SLiOptiva Inc. OPT T MP3 H/GRW C$22.30 29.00 59.85 17.50 NM -0.49 -0.47 -0.19 Dec C$119 0.0% SLiReal Matters Inc. REAL T MO2 H/GRW C$23.75 22.00 24.91 6.01 39.9 0.23 0.60 0.80 Sep C$1,995 0.0% SLiThe Descartes Systems Group Inc. DSGX Q MP3 M/GRW 47.59 42.00 47.72 24.35 35.9 0.96 1.15A 1.33 Jan $4,005 0.0% SLi


Transportation

USAAirlines ......................................................................................................................... 63

Hybrid Airlines ............................................................................................................ 63Low Cost Carriers ........................................................................................................ 63Network Airlines .......................................................................................................... 63Regional Airlines ......................................................................................................... 63Ultra-Low Cost Carriers ................................................................................................ 63

Transportation Services ................................................................................................... 63Intermodal and Asset-Light Logistics ............................................................................... 63Parcel Carriers ............................................................................................................ 63Railroad .................................................................................................................... 63Trucking (Truckload and LTL) ........................................................................................ 64

CANAirlines ......................................................................................................................... 65Railroads ....................................................................................................................... 65Transportation & Logistics ................................................................................................ 65


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Transportation - USA

Felix Boeschen [email protected] Tyler Brown, CFA [email protected]

Savanthi Syth, CFA [email protected]

AirlinesHybrid AirlinesAlaska Air Group, Inc. (ng) ALK N SB1 H/GRW 34.19 40.00 72.22 20.02 NM 6.43 -1.32 3.75 Dec $4,191 0.0% SSAzul S.A. (ng, r) AZUL N MP3 H/GRW 7.98 NM 44.55 5.30 NM 1.30 -1.53 0.50 Dec $910 0.0% SSCopa Holdings, S.A. (ng) CPA N SB1 H/INC 43.86 60.00 116.88 24.00 NM 7.92 -1.25 5.50 Dec $1,854 7.3% SSLow Cost CarrierseasyJet plc (ar) EZJ L MP3 M/INC £6.80 NM 15.70 4.10 NM 0.87 -1.20 0.70 Sep £2,701 6.5% SSGOL Linhas Aereas Inteligentes S.A. (ng, r) GOL N MP3 H/GRW 4.40 NM 23.30 1.85 NM 0.72 -0.28 0.35 Dec $596 0.0% SSJetBlue Airways Corporation (ng) JBLU Q MP3 H/GRW 10.07 NM 21.65 6.61 NM 1.90 -1.16 0.75 Dec $2,716 0.0% SSSouthwest Airlines Co. (ng) LUV N SB1 H/GRW 32.10 47.00 58.83 22.46 NM 4.28 -4.00 3.20 Dec $18,919 0.0% SSNetwork AirlinesAir France-KLM ($E, ng) AIRF EPA MP3 H/GRW €4.06 NM 11.12 3.50 NM 0.82 -5.80 0.50 Dec €1,742 0.0% SSAmerican Airlines Group Inc. (ng) AAL Q MP3 H/GRW 10.50 NM 34.99 8.25 NM 4.92 -3.50 1.85 Dec $4,440 0.0% SSDelta Air Lines, Inc. (ng) DAL N MO2 H/INC 25.21 36.00 63.44 17.51 NM 7.34 -2.01 4.00 Dec $16,080 0.0% SSIAG ($E, ng) IAG MAD MO2 H/GRW €2.54 4.00 8.02 1.80 NM 1.17 -0.96 0.60 Dec €5,045 17.7% SSLATAM Airlines Group S.A. (ng, r) LTM N MU4 H/GRW 1.12 NM 12.15 1.00 NM 0.32 -0.60 0.40 Dec $679 8.0% SSUnited Airlines Holdings, Inc. (ng) UAL Q MP3 H/GRW 28.04 NM 96.03 17.80 NM 12.05 -6.60 4.60 Dec $8,144 0.0% SSRegional AirlinesMesa Air Group, Inc. (ng) MESA Q MO2 H/GRW 3.25 6.50 11.08 2.05 4.2 1.67 0.78 1.25 Sep $114 0.0% SSSkyWest, Inc. (ng) SKYW Q SB1 H/GRW 32.07 40.00 66.52 10.58 21.3 6.25 1.50 4.50 Dec $1,608 0.0% SSUltra-Low Cost CarriersAllegiant Travel Company (ng) ALGT Q MO2 H/GRW 106.55 115.00 183.26 60.06 NM 14.26 0.60 9.00 Dec $1,726 0.0% SSRyanair Holdings Plc (ng, r) RYAAY Q SB1 H/GRW 71.77 68.00 96.79 44.44 NM 4.50 4.96A -3.25 Mar $15,634 0.0% SSSpirit Airlines, Inc. (ng) SAVE N MP3 H/GRW 12.95 NM 55.21 7.01 NM 5.09 -1.18 1.60 Dec $1,170 0.0% SS

Transportation ServicesIntermodal and Asset-Light LogisticsC.H. Robinson Worldwide, Inc. (ng) CHRW Q MP3 M/GRW 81.13 NM 91.23 56.94 25.8 4.19 3.15 4.00 Dec $10,921 2.5% TB, FBForward Air Corporation (ng) FWRD Q MP3 H/GRW 49.68 NM 72.09 39.59 39.8 3.04 1.25 2.85 Dec $1,390 1.4% TB, FBHub Group, Inc. (ng) HUBG Q MP3 H/GRW 46.77 NM 60.41 36.51 21.3 3.39 2.20 3.00 Dec $1,599 0.0% TB, FBJ.B. Hunt Transport Services, Inc. (ng) JBHT Q MO2 H/GRW 119.67 117.00 122.29 75.29 26.6 5.21 4.50 5.85 Dec $12,620 0.9% TB, FBLandstar System, Inc. (ng) LSTR Q MP3 M/GRW 116.26 NM 119.93 85.30 27.7 5.72 4.20 5.20 Dec $4,461 0.6% TB, FBXPO Logistics, Inc. (ng) XPO N MO2 H/GRW 78.81 75.00 100.18 38.47 48.8 4.03 1.61 4.86 Dec $7,182 0.0% TB, FBParcel CarriersFedEx Corporation (ng) FDX N MO2 M/GRW 130.56 150.00 178.50 88.69 14.5 15.52 9.00 11.50 May $34,109 2.0% TB, FBUnited Parcel Service, Inc. (ng) UPS N SB1 M/INC 99.71 120.00 125.31 82.00 17.5 7.53 5.70 7.60 Dec $85,962 4.1% TB, FBRailroadCSX Corporation (ng) CSX Q MO2 M/GRW 71.58 71.00 80.62 46.81 19.6 4.17 3.65 4.25 Dec $54,792 1.5% TB, FBKansas City Southern (ng) KSU N SB1 H/GRW 150.52 169.00 178.59 92.86 21.8 6.90 6.90 8.25 Dec $14,302 1.1% TB, FBNorfolk Southern Corporation (ng) NSC N MP3 M/GRW 178.29 NM 219.88 112.62 20.2 10.25 8.85 10.45 Dec $45,674 2.1% TB, FB


52 Week EPS

Sym

bol

Exch

ange

Ratin

g

Suita

bilit

y

Clos

eM

ay-2

9-20

Targ

etPr

ice

Hig

h

Low

Curr

ent

Year

P/E

2019

A

2020

E

2021

E

FY E

nd

Mkt

. Cap

.(M

il)

Div.

%

Anal

yst/

s

Transportation - USA

Union Pacific Corporation (ng) UNP N SB1 M/GRW 169.86 185.00 188.96 105.08 21.5 8.38 7.90 9.05 Dec $115,262 2.3% TB, FBTrucking (Truckload and LTL)Old Dominion Freight Line, Inc. (ng) ODFL Q MP3 H/GRW 171.09 NM 171.77 87.25 38.4 5.10 4.45 5.50 Dec $20,180 0.4% TB, FBSaia, Inc. (ng) SAIA Q MO2 H/GRW 108.44 105.00 113.92 56.35 28.9 4.30 3.75 4.95 Dec $2,827 0.0% TB, FB


52 Week EPS

Sym

bol

Exch

ange

Ratin

g

Suita

bilit

y

Clos

eM

ay-2

9-20

Targ

etPr

ice

Hig

h

Low

Curr

ent

Year

P/E

2019

A

2020

E

2021

E

FY E

nd

Mkt

. Cap

.(M

il)

Div.

%

Anal

yst/

s

Transportation - CAN

Ben Cherniavsky [email protected] Hansen, CFA, CPA, CMA [email protected]

Daryl Swetlishoff, CFA [email protected]

AirlinesAir Canada AC T MP3 H/GRW C$15.90 UR 52.71 9.26 NM 3.37 -6.49 -0.70 Dec C$4,153 0.0% BC

RailroadsCanadian National Railway CNR T MP3 M/GRW C$118.60 115.00 127.79 92.01 22.3 5.80 5.31 6.20 Dec C$84,340 1.9% SHCanadian Pacific Railway Limited CP T MP3 M/GRW C$345.10 340.00 365.69 252.00 20.9 16.43 16.53 18.80 Dec C$46,809 1.0% SH

Transportation & LogisticsCanWel Building Materials Group Ltd. CWX T MP3 H/INC C$3.44 4.00 5.71 2.73 43.6 0.23 0.08 0.26 Dec C$268 16.3% SH, DS


Raymond James Global Equities

David De Luca (212) 856-4375, Senior Managing Director – Head of Global Equities

Mike Westcott (416) 777-4935, Senior Managing Director – Head of Equities (Canada)

Equity Research, U.S. – Raymond James & Associates Brian G. Alexander, CFA (727) 567-2312, Senior Managing Director, Director of Equity Research

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(212) 883-4606

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and Leisure Products

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(404) 442-5866

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Energy

(800) 945-6275 John Freeman, CFA

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Justin Jenkins

Independent Refiners/

Midstream Suppliers

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Integrated Oil & Gas/

Renewable Energy &

Clean Technology/

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Oilfield Services

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Tavis McCourt

(615) 645-6811

Institutional Equity Strategist

Financial Services

Robert J. Dodd, Ph.D.

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Banking

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Edward Mills (202) 872-5933

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Buck Horne, CFA (727) 567-2561

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IT Supply Chain & Connected Devices

Transportation

Patrick Tyler Brown, CFA

(404) 442-5803

Transportation Services

Savanthi Syth, CFA

(727) 567-5274

Airlines


Equity Research, Canada – Raymond James Ltd.

Daryl Swetlishoff, CFA (604) 659-8246, Senior Managing Director, Head of Equity Research

Frederic Bastien, CFA (604) 659-8232

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Sr. Oil & Gas Producers /

Energy Infrastructure

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Precious Metals

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Daryl Swetlishoff, CFA

(604) 659-8246

Forest Products

Equity Advisory Group – Raymond James & Associates (727) 567-2520

Suzi Fiorini (727) 567-2258, Vice President, Equity Advisory Group

Harold Antor

Phil Cox

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Institutional Equity Sales, U.S. – Raymond James & Associates

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(800) 237-5643

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Institutional Equity Trading, U.S. – Raymond James & Associates

Daniel H. McMahon (212) 599-6800, Senior Managing Director, Director, Equity Trading Paul Powers (212) 856-5477, Managing Director, Head of U.S. Sales Trading David Cannizzo (212) 883-4069, Managing Director, Head of Electronic Trading and Market Structure

Principal Trading (212) 599-6800

Eric Braunstein

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Ray Moore

Greg Mulvaney

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Doug Shapiro

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E.J. Coveney

Brendan Moses

Steve Svensen

Thomas Ward

Chicago (312) 655-2990

Michael Barone

Ken Goldberger

Randy Mrozek

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Institutional Sales Trading (continued)

New York (212) 599-6800

Craig Bugniazet

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Tres Green

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Equity Agency Trading – Raymond James & Associates

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Scott Brown Tyson Bryant Cody Campo Allen Spence St. Petersburg–International (727) 567-2100

Sharon Agudio James Nielsen Mike Tagliarini

Institutional Equity Sales, Canada – Raymond James Ltd.

Sean Boyle (416) 777-4927, Senior Managing Director, Co-Head of Institutional Sales Nicole Svec, CFA (416) 777-4942, Senior Managing Director, Co-Head of Institutional Sales

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Scot Atkinson, CFA (604) 659-8225

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John Hart (514) 350-4462

David Maislin, CFA (514) 350-4460


Institutional Equity Trading, Canada – Raymond James Ltd. Bob McDonald, CFA (604) 659-8222, Senior Managing Director, Head of Trading

Toronto (888) 601-6105 Canada / (800) 290-4847 USA Mark Armstrong (416) 777-4981 Oliver Herbst (416) 777-4947 Andy Herrmann (416) 777-4937 Matt Malowney (416) 777-4937 Eric Munro, CFA (416) 777-4983

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U.S. Equities Sales and Trading – Raymond James Europe

Raymond James Financial International Limited

Raymond James Euro Equities

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Important Investor Disclosures

Raymond James & Associates (RJA) is a FINRA member firm and is responsible for the preparation and distribution of research created inthe United States. Raymond James & Associates is located at The Raymond James Financial Center, 880 Carillon Parkway, St. Petersburg,FL 33716, (727) 567-1000. Non-U.S. affiliates, which are not FINRA member firms, include the following entities that are responsible for thecreation or distribution of research in their respective areas: in Canada, Raymond James Ltd. (RJL), Suite 2100, 925 West Georgia Street,Vancouver, BC V6C 3L2, (604) 659-8200; in Europe, Raymond James Euro Equities SAS (also trading as Raymond James International), 45Avenue George V, 75008, Paris, France, +33 1 45 64 0500 and Raymond James Financial International Ltd., Ropemaker Place, 25 RopemakerStreet, London, England, EC2Y 9LY , +44 203 798 5600.

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Raymond James & Associates (U.S.) definitions: Strong Buy (SB1) Expected to appreciate, produce a total return of at least 15%, andoutperform the S&P 500 over the next six to 12 months. For higher yielding and more conservative equities, such as REITs and certain MLPs,a total return of 15% is expected to be realized over the next 12 months. Outperform (MO2) Expected to appreciate and outperform theS&P 500 over the next 12-18 months. For higher yielding and more conservative equities, such as REITs and certain MLPs, an Outperformrating is used for securities where we are comfortable with the relative safety of the dividend and expect a total return modestly exceedingthe dividend yield over the next 12-18 months. Market Perform (MP3) Expected to perform generally in line with the S&P 500 over the next12 months. Underperform (MU4) Expected to underperform the S&P 500 or its sector over the next six to 12 months and should be sold.Suspended (S) The rating and price target have been suspended temporarily. This action may be due to market events that made coverageimpracticable, or to comply with applicable regulations or firm policies in certain circumstances, including when Raymond James may beproviding investment banking services to the company. The previous rating and price target are no longer in effect for this security andshould not be relied upon.

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Raymond James Ltd. (Canada) definitions: Strong Buy (SB1) The stock is expected to appreciate and produce a total return of at least15% and outperform the S&P/TSX Composite Index over the next six months. Outperform (MO2) The stock is expected to appreciate andoutperform the S&P/TSX Composite Index over the next twelve months. Market Perform (MP3) The stock is expected to perform generallyin line with the S&P/TSX Composite Index over the next twelve months and is potentially a source of funds for more highly rated securities.Underperform (MU4) The stock is expected to underperform the S&P/TSX Composite Index or its sector over the next six to twelve monthsand should be sold. Suspended (S) The rating and price target have been suspended temporarily. This action may be due to market eventsthat made coverage impracticable, or to comply with applicable regulations or firm policies in certain circumstances, including whenRaymond James may be providing investment banking services to the company. The previous rating and price target are no longer ineffect for this security and should not be relied upon.

In transacting in any security, investors should be aware that other securities in the Raymond James research coverage universemight carry a higher or lower rating. Investors should feel free to contact their Financial Advisor to discuss the merits of other availableinvestments.

Coverage UniverseRating Distribution*

Investment Banking Relationships

RJA RJL RJA RJLStrong Buy and Outperform (Buy)Market Perform (Hold)Underperform (Sell)

54% 53%42% 39%4% 7%

20% 26%14% 17%3% 0%

* Columns may not add to 100% due to rounding.Suitability Ratings (SR)

Medium Risk/Income (M/INC) Lower to average risk equities of companies with sound financials, consistent earnings, and dividend yieldsabove that of the S&P 500. Many securities in this category are structured with a focus on providing a consistent dividend or return ofcapital.

Medium Risk/Growth (M/GRW) Lower to average risk equities of companies with sound financials, consistent earnings growth, thepotential for long-term price appreciation, a potential dividend yield, and/or share repurchase program.

High Risk/Income (H/INC) Medium to higher risk equities of companies that are structured with a focus on providing a meaningfuldividend but may face less predictable earnings (or losses), more leveraged balance sheets, rapidly changing market dynamics, financialand competitive issues, higher price volatility (beta), and potential risk of principal. Securities of companies in this category may have aless predictable income stream from dividends or distributions of capital.

High Risk/Growth (H/GRW) Medium to higher risk equities of companies in fast growing and competitive industries, with less predictableearnings (or losses), more leveraged balance sheets, rapidly changing market dynamics, financial or legal issues, higher price volatility(beta), and potential risk of principal.

High Risk/Speculation (H/SPEC) High risk equities of companies with a short or unprofitable operating history, limited or less predictablerevenues, very high risk associated with success, significant financial or legal issues, or a substantial risk/loss of principal.

General Risk Factors: Following are some general risk factors that pertain to the business of the subject companies and the projectedtarget prices and recommendations included on Raymond James research: (1) Industry fundamentals with respect to customer demandor product/service pricing could change and adversely impact expected revenues and earnings; (2) Issues relating to major competitors ormarket shares or new product expectations could change investor attitudes toward the sector or this stock; (3) Unforeseen developmentswith respect to the management, financial condition or accounting policies or practices could alter the prospective valuation; or (4)External factors that affect the U.S. economy, interest rates, the U.S. dollar or major segments of the economy could alter investorconfidence and investment prospects. International investments involve additional risks such as currency fluctuations, differing financialaccounting standards, and possible political and economic instability.

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