raymond james financial, inc. - june 2020 · 2020. 6. 2. · raymond james research register - june...

GLOBAL RESEARCH | PUBLISHED BYRAYMOND JAMES & ASSOCIATES

December 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 - December 2020

Contents

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

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

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

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . . 26

Financial Services USA . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . . 36

Healthcare USA . . . . . . . . . . . . . . . . . . . . . . . . . . 38

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 42

Industrial USA . . . . . . . . . . . . . . . . . . . . . . . . . . 44

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 45

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

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

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

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

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 62

Transportation USA . . . . . . . . . . . . . . . . . . . . . . . . . . 64

CAN .. . . . . . . . . . . . . . . . . . . . . . . . . 66

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 . . . . 67

Analyst Index

Raymond James Research Register - December 2020 3

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

Nicholas Bacchus (NB) .............................. 56

Frederic Bastien, CFA (FB) ..................26,45,54

Jayson Bedford (JB) .................................. 38

Felix Boeschen (FB) ...............................44,64

Stephen Boland, CFA (SB) .......................... 36

Andrew Bradford, CFA (AB) .........................26

Danielle Brill, PharmD (DB) ........................ 38

Patrick Tyler Brown, CFA (TB) ................. 44,64

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

Andrew Cooper (AC) .................................. 38

Chris Cox, CFA (CC) ............................... 23,26

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

Sam Darkatsh (SD) ................................18,44

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

Robert Dodd, Ph.D. (RD) ............................ 30

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

Bryan Fast, CFA (BF) .............................. 45,48

David P. Feaster, Jr., CFA (DF) ..................... 30

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

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

Michael Glen, CFA (MG) .......................... 21,45

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

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

Steve Hansen, CFA, CPA, CMA (SH) ...... 45,48,66

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

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

Justin Jenkins (JJ) ................................ 23,26

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

Lawrence Keusch (LK) ............................... 38

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

Dane Leone, CFA (DL) ............................ 38,42

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

Steven Li, CFA (SLi) ............................... 36,62

David J. Long, CFA (DJL) ............................ 30

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

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

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

Andrew Marok, CFA (AM) ............................ 56

Matthew McClintock (MM) .......................... 18

Jeremy McCrea, CFA (JM) ........................... 26

RJ Milligan (RM) ........................................51

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

David Novak, MSc (DN) .............................. 42

Patrick O'Shaughnessy (PO) ....................... 30

C. Gregory Peters (CGP) ............................. 30

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

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

David Quezada, CFA (DQ) ....................... 26,45

John W. Ransom (JWR) ......................... 30,38

Michael Rose (MR) .................................... 30

Ammar M. Samma (AS) .............................. 30

Rahul Sarugaser, PhD, MASc (RS) ................ 42

Steven Seedhouse, Ph.D. (SS) ..................... 38

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

Craig Stanley, M.Sc. Geo (CS) ...................... 48

Brad Sturges, CFA (BS) .............................. 54

Daryl Swetlishoff, CFA (DS) ................ 45,48,66

Savanthi Syth, CFA (SS) ............................. 64

Daniel Tamayo, CFA (DT) ........................... 30

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

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

William J. Wallace IV (WW) ......................... 30

J.R. Weston, CFA (JRW) ..........................23,26

Elliot Wilbur, CFA (EW) ............................... 38

Joshua Wilson, CFA (JW) ........................ 18,44


Upcoming Events

Technology Investors Conference (USA)December 7-9, 2020; Virtual

42nd Annual Institutional Investors Conference (USA)March 1-3, 2021; 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

December 2020 884 218

December 2019 915 227


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.

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) ............................................ 3089bio, Inc. (ETNB:Q) ................................................................. 38Abbott Laboratories (ABT:N) ..................................................... 40Abiomed, Inc. (ABMD:Q) ............................................................ 40Absolute Software Corporation (ABST:Q) ................................... 59Acadia Healthcare Company, Inc. (ACHC:Q) ............................... 38Acadian Timber Corp. (ADN:T) ................................................... 45ACADIA Pharmaceuticals Inc. (ACAD:Q) ...................................... 38Acceleron Pharma Inc. (XLRN:Q) ............................................... 38Acushnet Holdings Corp. (GOLF:N) ............................................ 19Adamis Pharmaceuticals Corporation (ADMP:Q) ........................ 41Addus HomeCare Corporation (ADUS:Q) .................................... 38ADMA Biologics, Inc. (ADMA:Q) .................................................. 41Advance Auto Parts, Inc. (AAP:N) ............................................... 18Advanced Energy Industries, Inc. (AEIS:Q) .................................. 24Advantage Oil & Gas Ltd. (AAV:T) ............................................... 26Adventus Mining Corp. (ADZN:V) ............................................... 48Adverum Biotechnologies, Inc. (ADVM:Q) ................................... 38Aecon Group Inc. (ARE:T) .......................................................... 45Aerie Pharmaceuticals, Inc. (AERI:Q) .......................................... 41AeroVironment, Inc. (AVAV:Q) .................................................... 56Aflac Incorporated (AFL:N) ........................................................ 34Ag Growth International, Inc. (AFN:T) ........................................ 45Agnico Eagle Mines Ltd. (AEM:N) ............................................... 48Agree Realty Corporation (ADC:N) ............................................. 52Air Canada (AC:T) ..................................................................... 64Air France-KLM (AIRF:EPA) ........................................................ 64Akamai Technologies, Inc. (AKAM:Q) ......................................... 58Alarm.com Holdings, Inc. (ALRM:Q) ........................................... 57Alaska Air Group, Inc. (ALK:N) ................................................... 64Alerus Financial Corporation (ALRS:Q) ....................................... 30Alexion Pharmaceuticals, Inc. (ALXN:Q) ..................................... 38Algonquin Power & Utilities (AQN:N) .......................................... 27Alibaba Group Holding Ltd. (BABA:N) ........................................ 58Alimentation Couche-Tard Inc. (ATD.B:T) ................................... 18Allegiance Bancshares, Inc. (ABTX:Q) ......................................... 30Allegiant Travel Company (ALGT:Q) ........................................... 64Allied Properties REIT (AP.UN:T) ................................................ 54Allison Transmission Holdings, Inc. (ALSN:N) ............................. 44Allogene Therapeutics, Inc. (ALLO:Q) ......................................... 38Alphabet Inc. (GOOG:Q) ............................................................ 59Alpine Income Property Trust, Inc. (PINE:N) ............................... 52Altabancorp (ALTA:Q) ............................................................... 30Alta Equipment Group Inc. (ALTG:N) .......................................... 46AltaGas Ltd. (ALA:T) .................................................................. 27Alteryx, Inc. (AYX:N) .................................................................. 58Altice USA, Inc. (ATUS:N) ........................................................... 61Altius Minerals Corporation (ALS:T) ........................................... 48Amalgamated Bank (AMAL:Q) ................................................... 30Amazon.com, Inc. (AMZN:Q) ...................................................... 58Amedisys, Inc. (AMED:Q) ........................................................... 38Amerant Bancorp Inc. (AMTB:Q) ................................................ 30Ameresco, Inc. (AMRC:N) ........................................................... 25American Airlines Group Inc. (AAL:Q) ......................................... 64American Eagle Outfitters, Inc. (AEO:N) ..................................... 20American Equity Investment Life Holding Company (AEL:N) ........ 34

American Financial Group, Inc. (AFG:N) ..................................... 34American Homes 4 Rent (AMH:N) .............................................. 53American National Bankshares Inc. (AMNB:Q) ............................ 30American Tower Corporation (AMT:N) ....................................... 60Americold Realty Trust (COLD:N) ............................................... 51Ameris Bancorp (ABCB:Q) ......................................................... 30AmerisourceBergen Corporation (ABC:N) ................................... 40Amgen Inc. (AMGN:Q) ............................................................... 38Amneal Pharmaceuticals Inc. (AMRX:N) ..................................... 41Amphastar Pharmaceuticals, Inc. (AMPH:Q) ............................... 41Analog Devices, Inc. (ADI:Q) ...................................................... 60AngioDynamics, Inc. (ANGO:Q) .................................................. 40ANI Pharmaceuticals, Inc. (ANIP:Q) ............................................ 41Antares Pharma, Inc. (ATRS:Q) .................................................. 41Antero Midstream Corporation (AM:N) ....................................... 24Antero Resources Corporation (AR:N) ........................................ 23Aon plc (AON:N) ....................................................................... 34Apache Corporation (APA:Q) ..................................................... 23Apartment Investment and Management Company (AIV:N) ......... 53Apellis Pharmaceuticals, Inc. (APLS:Q) ....................................... 38Apollo Commercial Real Estate Finance, Inc. (ARI:N) ................... 52Apollo Investment Corporation (AINV:Q) .................................... 34Apple Inc. (AAPL:Q) .................................................................. 57Applied Optoelectronics, Inc. (AAOI:Q) ....................................... 57Aptiv PLC (APTV:N) ................................................................... 56Arbor Realty Trust, Inc. (ABR:N) ................................................. 52ARC Resources Ltd. (ARX:T) ....................................................... 26Arcturus Therapeutics Holdings Inc. (ARCT:Q) ............................ 38Ares Capital Corporation (ARCC:Q) ............................................ 34Ares Commercial Real Estate Corporation (ACRE:N) .................... 52argenx SE (ARGX:Q) .................................................................. 38Argo Group International Holdings, Ltd. (ARGO:N) ...................... 34Arista 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) .............................................. 34Ascot Resources (AOT:T) ........................................................... 48AssetMark Financial Holdings, Inc. (AMK:N) ................................ 33Associated Banc-Corp (ASB:N) .................................................. 30AT&T Inc. (T:N) ......................................................................... 61Athabasca Oil Corp. (ATH:T) ...................................................... 26Atlantica Sustainable Infrastructure plc (AY:Q) ........................... 27Atlantic Capital Bancshares, Inc. (ACBI:Q) .................................. 30Atlantic Union Bankshares Corporation (AUB:Q) ........................ 30Atlassian (TEAM:Q) ................................................................... 58ATN International, Inc. (ATNI:Q) ................................................ 60Automotive Properties REIT (APR.UN:T) ..................................... 54AutoZone, Inc. (AZO:N) ............................................................. 18Auxly Cannabis Group Inc. (XLY:V) ............................................. 42Avalara, Inc. (AVLR:N) ............................................................... 56Avanos Medical, Inc. (AVNS:N) ................................................... 40Avantor, Inc. (AVTR:N) .............................................................. 40Avicanna Inc. (AVCN:T) ............................................................. 42Avnet, Inc. (AVT:Q) .................................................................... 59Axon Enterprise, Inc. (AAXN:Q) .................................................. 56

Company Index


Axos Financial, Inc. (AX:N) ......................................................... 30Ayala Pharmaceuticals, Inc. (AYLA:Q) ......................................... 38Azul S.A. (AZUL:N) .................................................................... 64B2Gold Corp. (BTG:N) ............................................................... 48Ballard Power Systems Inc. (BLDP:Q) ........................................ 46Banc of California, Inc. (BANC:N) ............................................... 30BancorpSouth Bank (BXS:N) ..................................................... 30Bank of Commerce Holdings (BOCH:Q) ...................................... 30Bank of Marin Bancorp (BMRC:Q) .............................................. 30Bank OZK (OZK:Q) .................................................................... 30Banner Corporation (BANR:Q) ................................................... 30Barings BDC, Inc. (BBDC:N) ....................................................... 34Barrick Gold Corporation (GOLD:N) ........................................... 48Baxter International Inc. (BAX:N) ............................................... 40Baylin Technologies Inc. (BYL:T) ................................................ 62Baytex Energy Corp. (BTE:T) ..................................................... 26Beacon Roofing Supply, Inc. (BECN:Q) ....................................... 44Becton, Dickinson and Company (BDX:N) .................................. 40Bed Bath & Beyond Inc. (BBBY:Q) .............................................. 19Benefitfocus, Inc. (BNFT:Q) ....................................................... 56Best Buy Co., Inc. (BBY:N) ......................................................... 18BGC Partners, Inc. (BGCP:Q) ...................................................... 33BigCommerce Holdings, Inc. (BIGC:Q) ........................................ 56Biogen Inc. (BIIB:Q) .................................................................. 38BioSyent, Inc. (RX:V) ................................................................. 42BioTelemetry, Inc. (BEAT:Q) ...................................................... 40Birchcliff Energy Ltd. (BIR:T) ..................................................... 26Bird Construction Inc. (BDT:T) ................................................... 45Blackbaud, Inc. (BLKB:Q) .......................................................... 56BlackBerry Limited (BB:N) ........................................................ 62Black Diamond Group Limited (BDI:T) ....................................... 46BlackLine, Inc. (BL:Q) ............................................................... 56Blackline Safety Corp. (BLN:V) ................................................... 46BlackRock TCP Capital Corp. (TCPC:Q) ...................................... 34Black 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) ........................................................ 38Blueprint Medicines Corporation (BPMC:Q) ................................ 38BOK Financial Corporation (BOKF:Q) ......................................... 30Bonterra Energy Corp. (BNE:T) .................................................. 26Booz Allen Hamilton Holding Corp. (BAH:N) ............................... 59Boralex, Inc. (BLX:T) ................................................................. 27Boston Scientific Corporation (BSX:N) ....................................... 40Bottomline Technologies (EPAY:Q) ............................................ 57Box, Inc. (BOX:N) ...................................................................... 56Boyd Group Services Inc. (BYD:T) .............................................. 46BP p.l.c. (BP:N) ......................................................................... 24Brainsway Ltd. (BWAY:Q) .......................................................... 40Brandywine Realty Trust (BDN:N) .............................................. 52BridgeBio Pharma, Inc. (BBIO:Q) ............................................... 38Brigham Minerals, Inc. (MNRL:N) ............................................... 23Brinker International, Inc. (EAT:N) ............................................. 19Bristol-Myers Squibb Company (BMY:N) ..................................... 38Broadcom Inc. (AVGO:Q) ........................................................... 60

Broadmark Realty Capital Inc. (BRMK:N) .................................... 52Broadridge Financial Solutions, Inc. (BR:N) ................................ 33Brookfield Infrastructure Partners L.P. (BIP:N) ........................... 27Brookfield Renewable Partners L.P. (BEP:N) .............................. 27Brookline Bancorp, Inc. (BRKL:Q) .............................................. 30Brown & Brown, Inc. (BRO:N) .................................................... 34BRP Group, Inc. (BRP:Q) ........................................................... 34Brunswick Corporation (BC:N) .................................................. 19BSR Real Estate Investment Trust (HOM.U:T) ............................. 54Business First Bancshares, Inc. (BFST:Q) .................................... 30C.H. Robinson Worldwide, Inc. (CHRW:Q) ................................... 64Cable One, Inc. (CABO:N) .......................................................... 61Cabot Oil & Gas Corporation (COG:N) ........................................ 23CACI International Inc (CACI:N) ................................................. 59Cadence Bancorporation (CADE:N) ............................................ 30Calfrac Well Services (CFW:T) .................................................... 27Calibre Mining Corp. (CXB:T) ..................................................... 48Callaway Golf Company (ELY:N) ................................................ 19Calumet Specialty Products Partners, L.P. (CLMT:Q) ................... 23Cambium Networks Corporation (CMBM:Q) ............................... 57Cambridge Bancorp (CATC:Q) ................................................... 30Camden National Corporation (CAC:Q) ...................................... 30Cameco Corporation (CCO:T) .................................................... 49Canadian Apartment Properties REIT (CAR.UN:T) ....................... 54Canadian National Railway (CNR:T) ........................................... 66Canadian Natural Resources Limited (CNQ:T) ............................ 28Canadian Pacific Railway Limited (CP:T) .................................... 66Canadian Western Bank (CWB:T) ............................................... 36Canfor Corp. (CFP:T) ................................................................. 45Canfor Pulp Products Inc. (CFX:T) .............................................. 45Cantel Medical Corp. (CMD:N) ................................................... 40CanWel Building Materials Group Ltd. (CWX:T) ........................... 66Capital Power Corporation (CPX:T) ............................................ 27Capital Southwest Corporation (CSWC:Q) .................................. 34CapStar Financial Holdings, Inc. (CSTR:Q) .................................. 30Cardinal Energy Ltd. (CJ:T) ....................................................... 26Cardinal Health, Inc. (CAH:N) .................................................... 40Cardiol Therapeutics Inc. (CRDL:T) ............................................ 42Cardiovascular Systems, Inc. (CSII:Q) ........................................ 40Cardlytics, Inc. (CDLX:Q) ........................................................... 59CareDx, Inc. (CDNA:Q) ............................................................... 39CareTrust REIT, Inc. (CTRE:Q) .................................................... 51Cargojet Inc. (CJT:T) ................................................................. 45CarGurus, Inc. (CARG:Q) ............................................................ 59Carrols Restaurant Group, Inc. (TAST:Q) .................................... 19Carter Bank & Trust (CARE:Q) .................................................... 30Casa Systems, Inc. (CASA:Q) ...................................................... 57Casella Waste Systems, Inc. (CWST:Q) ....................................... 44Casey's General Stores, Inc. (CASY:Q) ........................................ 18Catalyst Biosciences, Inc. (CBIO:Q) ............................................ 42CatchMark Timber Trust, Inc. (CTT:N) ........................................ 53Cboe Global Markets, Inc. (CBOE:B) ........................................... 33CBRE Group, Inc. (CBRE:N) ........................................................ 33CCL Industries Inc. (CCL.B:T) ..................................................... 21CDW Corporation (CDW:Q) ........................................................ 59Cenovus Energy Inc. (CVE:T) ...................................................... 28

Company Index


Centerra Gold Inc. (CG:T) .......................................................... 48Central Pacific Financial Corp. (CPF:N) ...................................... 30Central Valley Community Bancorp (CVCY:Q) ............................. 30CenturyLink, Inc. (LUMN:N) ....................................................... 61Cerence Inc. (CRNC:Q) .............................................................. 56Cervus Equipment Corp. (CERV:T) ............................................. 46CES Energy Solutions Corp. (CEU:T) .......................................... 26CGI Group (GIB.A:T) .................................................................. 62Champion Iron Limited (CIA:T) .................................................. 48Change Healthcare Inc. (CHNG:Q) ............................................. 39Charter Communications, Inc. (CHTR:Q) .................................... 61Chart Industries, Inc. (GTLS:Q) .................................................. 24Check Point Software Technologies Ltd. (CHKP:Q) ..................... 59Cheesecake Factory Inc. (CAKE:Q) ............................................. 19Chegg, Inc. (CHGG:N) ................................................................ 58ChemoCentryx, Inc. (CCXI:Q) ..................................................... 38Chemtrade Logistics Income Fund (CHE.UN:T) ........................... 45Cheniere Energy, Inc. (LNG:N) ................................................... 24Cheniere Energy Partners, L.P. (CQP:N) ..................................... 24Chevron Corporation (CVX:N) .................................................... 24Chewy, Inc. (CHWY:N) ............................................................... 58Chimera Investment Corporation (CIM:N) .................................. 52Chipotle Mexican Grill, Inc. (CMG:N) .......................................... 20Chubb Limited (CB:N) ............................................................... 34Church & Dwight Co., Inc. (CHD:N) ............................................. 19Chuy's Holdings, Inc. (CHUY:Q) ................................................. 20Ciena Corporation (CIEN:N) ....................................................... 57Cigna Corporation (CI:N) ........................................................... 40Cimarex 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) ............................................ 24Clean Harbors, Inc. (CLH:N) ...................................................... 44Clipper Realty Inc. (CLPR:N) ...................................................... 53CME Group Inc. (CME:Q) ............................................................ 33CNX Resources Corporation (CNX:N) .......................................... 23Coeur Mining, Inc. (CDE:N) ........................................................ 48Cogent Communications Holdings, Inc. (CCOI:Q) ........................ 61Cognex Corporation (CGNX:Q) ................................................... 56Colliers International Group Inc. (CIGI:Q) ................................... 54Colony Credit Real Estate, Inc. (CLNC:N) .................................... 52Columbia Banking System, Inc. (COLB:Q) .................................. 30Comcast Corporation (CMCSA:Q) ............................................... 61Comerica Inc. (CMA:N) .............................................................. 30Commerce Bancshares, Inc. (CBSH:Q) ....................................... 30CommScope Holding Company, Inc. (COMM:Q) .......................... 57Community Bank System, Inc. (CBU:N) ...................................... 30Community Health Systems, Inc. (CYH:N) .................................. 40Community Trust Bancorp, Inc. (CTBI:Q) ................................... 30Compass Diversified Holdings (CODI:N) ..................................... 35Concho Resources Inc. (CXO:N) ................................................. 23Conifer Holdings, Inc. (CNFR:Q) ................................................. 34Conifex Timber Inc. (CFF:T) ....................................................... 45Connection (CNXN:Q) ............................................................... 59ConnectOne Bancorp, Inc. (CNOB:Q) ......................................... 30

ConocoPhillips (COP:N) ............................................................ 23Constellation Software Inc. (CSU:T) ........................................... 62Construction Partners, Inc. (ROAD:Q) ........................................ 44Continental Resources Inc. (CLR:N) ........................................... 23Converge Technology Solutions Corp. (CTS:V) ............................ 62Copa Holdings, S.A. (CPA:N) ...................................................... 64Core-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) ....................................... 44Covetrus, Inc. (CVET:Q) ............................................................. 38Crawford & Company (CRD.B:N) ................................................ 34Crescent Capital BDC, Inc. (CCAP:Q) .......................................... 34Crescent Point Energy Corp. (CPG:T) ......................................... 26Crestwood Equity Partners LP (CEQP:N) .................................... 24Crew Energy Inc. (CR:T) ............................................................ 26CRISPR Therapeutics AG (CRSP:Q) ............................................. 38Criteo S.A. (CRTO:Q) ................................................................. 59Cronos Group Inc. (CRON:Q) ..................................................... 42CrossAmerica Partners L.P. (CAPL:N) ......................................... 24CrossFirst Bankshares, Inc. (CFB:Q) ........................................... 30Crown Castle International Corp. (CCI:N) ................................... 60CSX Corporation (CSX:Q) .......................................................... 64CubeSmart (CUBE:N) ................................................................ 53Cubic Corporation (CUB:N) ....................................................... 56CubicFarm Systems Corp. (CUB:V) ............................................. 45Cullen/Frost Bankers, Inc. (CFR:N) ............................................. 30Culp, Inc. (CULP:N) ................................................................... 18Cummins Inc. (CMI:N) ............................................................... 44Cushman & Wakefield plc (CWK:N) ............................................ 33CVB Financial Corp. (CVBF:Q) .................................................... 31CVS Health Corporation (CVS:N) ................................................ 40CymaBay Therapeutics, Inc. (CBAY:Q) ........................................ 38CyrusOne Inc. (CONE:Q) ............................................................ 60Cytokinetics, Incorporated (CYTK:Q) .......................................... 38D.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) ................................................................... 38DCP 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) ....................................................... 64Denali Therapeutics Inc. (DNLI:Q) .............................................. 38Denison Mines Corp. (DML:T) .................................................... 49Devon Energy Corporation (DVN:N) ........................................... 23DexCom, Inc. (DXCM:Q) ............................................................. 40Diamondback 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) ............................. 31

Company Index


Dine Brands Global, Inc. (DIN:N) ................................................ 20DIRTT Environmental Solutions Ltd. (DRTT:Q) ............................ 44DISH Network Corporation (DISH:Q) .......................................... 60Diversified Healthcare Trust (DHC:Q) ......................................... 51Dollar General Corporation (DG:N) ............................................ 19Dollar Tree, Inc. (DLTR:Q) ......................................................... 19Domtar Corporation (UFS:N) ..................................................... 45Douglas Emmett, Inc. (DEI:N) .................................................... 53Duck Creek Technologies, Inc. (DCT:Q) ...................................... 56Dye & Durham Limited (DND:T) ................................................. 36Dynatrace, Inc. (DT:N) ............................................................... 58Eagle Materials Inc. (EXP:N) ...................................................... 44Easterly Government Properties, Inc. (DEA:N) ............................ 53EastGroup Properties, Inc. (EGP:N) ............................................ 52easyJet plc (EZJ:L) ................................................................... 64eBay Inc. (EBAY:Q) .................................................................... 58EchoStar Corporation (SATS:Q) ................................................. 60ECN Capital Corp. (ECN:T) ......................................................... 36Editas Medicine, Inc. (EDIT:Q) ................................................... 38Edwards Lifesciences Corporation (EW:N) .................................. 40eHealth, Inc. (EHTH:Q) .............................................................. 34Elanco Animal Health Incorporated (ELAN:N) ............................. 38Element Fleet Management Corp. (EFN:T) .................................. 36Emera Incorporated (EMA:T) ..................................................... 27Enbridge Inc. (ENB:T) ............................................................... 27Encompass Health Corporation (EHC:N) .................................... 38Encore Capital Group Inc. (ECPG:Q) ........................................... 35Endo International plc (ENDP:Q) ............................................... 41Enerflex Ltd. (EFX:T) ................................................................. 27Energy Recovery, Inc. (ERII:Q) ................................................... 25Energy Transfer LP (ET:N) ......................................................... 24Enerplus Corporation (ERF:T) .................................................... 26EnLink Midstream, LLC (ENLC:N) ............................................... 24Enphase Energy, Inc. (ENPH:Q) ................................................. 25Ensign Energy Services Inc. (ESI:T) ............................................ 27Enterprise Financial Services Corp. (EFSC:Q) .............................. 31Enterprise Products Partners L.P. (EPD:N) ................................. 24Envestnet, Inc. (ENV:N) ............................................................. 33Enviva Partners, LP (EVA:N) ...................................................... 25EnWave Corporation (ENW:V) .................................................... 45EOG Resources, Inc. (EOG:N) ..................................................... 23EPR Properties (EPR:N) ............................................................. 52Equinix, Inc. (EQIX:Q) ................................................................ 60Equitable Group Inc. (EQB:T) .................................................... 36Equity Residential (EQR:N) ........................................................ 53Ero Copper Corp. (ERO:T) ......................................................... 48Essential Energy Services Ltd. (ESN:T) ....................................... 26Essential Properties Realty Trust, Inc. (EPRT:N) .......................... 52Essex Property Trust, Inc. (ESS:N) ............................................. 53Ethan Allen Interiors Inc. (ETH:N) .............................................. 18European Residential REIT (ERE.UN:T) ....................................... 54Everbridge, Inc. (EVBG:Q) .......................................................... 56Everi Holdings Inc. (EVRI:N) ....................................................... 57EverQuote, Inc. (EVER:Q) .......................................................... 59EVERTEC, Inc. (EVTC:N) ............................................................. 57Evertz Technologies Limited (ET:T) ........................................... 62

Evoqua Water Technologies Corp. (AQUA:N) .............................. 25Exantas Capital Corp. (XAN:N) ................................................... 52Exchange Income Corporation (EIF:T) ........................................ 45Extra Space Storage Inc. (EXR:N) ............................................... 53Exxon Mobil Corporation (XOM:N) ............................................. 24F.N.B. Corporation (FNB:N) ....................................................... 31F5 Networks, Inc. (FFIV:Q) ......................................................... 57Facebook, Inc. (FB:Q) ............................................................... 59FactSet Research Systems Inc. (FDS:N) ...................................... 33Farmers National Banc Corp. (FMNB:Q) ..................................... 31Farmland Partners Inc. (FPI:N) .................................................. 51Fastenal Company (FAST:Q) ...................................................... 44Fastly, Inc. (FSLY:N) .................................................................. 58FB Financial Corporation (FBK:N) .............................................. 31FBL Financial Group, Inc. (FFG:N) .............................................. 34FedEx Corporation (FDX:N) ....................................................... 64FedNat Holding Company (FNHC:Q) .......................................... 34FibroGen, Inc. (FGEN:Q) ............................................................ 39Fidelity National Information Services, Inc. (FIS:N) ..................... 57Fidus Investment Corporation (FDUS:Q) .................................... 34Fiesta Restaurant Group, Inc. (FRGI:Q) ....................................... 20Finning International (FTT:T) .................................................... 46First Bancorp (FBNC:Q) ............................................................. 31First Busey Corporation (BUSE:Q) .............................................. 31First Business Financial Services, Inc. (FBIZ:Q) ........................... 31First Commonwealth Financial Corp. (FCF:N) ............................. 31First Community Corporation (FCCO:Q) ..................................... 31First Eagle Alternative Capital BDC, Inc. (FCRD:Q) ....................... 34First Financial Bancorp. (FFBC:Q) .............................................. 31First Financial Corporation (THFF:Q) ......................................... 31First Foundation Inc. (FFWM:Q) ................................................. 31First Horizon National Corporation (FHN:N) ............................... 31First Industrial Realty Trust, Inc. (FR:N) ...................................... 52First Merchants Corporation (FRME:Q) ....................................... 31First Mid Bancshares, Inc. (FMBH:Q) .......................................... 31First Midwest Bancorp, Inc. (FMBI:Q) ......................................... 31First Quantum Minerals Ltd. (FM:T) ........................................... 48First Republic Bank (FRC:N) ...................................................... 31FirstService Corporation (FSV:Q) ............................................... 54First Solar, Inc. (FSLR:Q) ........................................................... 25Fiserv, Inc. (FISV:Q) ................................................................... 57Flagstar Bancorp, Inc. (FBC:N) ................................................... 31FleetCor Technologies, Inc. (FLT:N) ........................................... 57Flexion Therapeutics, Inc. (FLXN:Q) ........................................... 41Flex Ltd. (FLEX:Q) ..................................................................... 59FLIR Systems, Inc. (FLIR:Q) ........................................................ 56Floor & Decor Holdings, Inc. (FND:N) ......................................... 19Focus Financial Partners Inc. (FOCS:Q) ...................................... 33Foot Locker, Inc. (FL:N) ............................................................. 20Fortinet, Inc. (FTNT:Q) .............................................................. 59Fortis, Inc. (FTS:T) .................................................................... 27Fortive Corporation (FTV:N) ...................................................... 56Fortress Transportation & Infrastructure Inv. LLC (FTAI:N) ........... 35Forward Air Corporation (FWRD:Q) ............................................ 64Foundation Building Materials, Inc. (FBM:N) .............................. 44Four Corners Property Trust, Inc. (FCPT:N) ................................ 52

Company Index


Franco-Nevada Corporation (FNV:N) ......................................... 48Freehold Royalties Ltd. (FRU:T) ................................................. 26Freeport-McMoRan Inc. (FCX:N) ................................................. 48frontdoor, inc. (FTDR:Q) ............................................................ 58FS Bancorp, Inc. (FSBW:Q) ........................................................ 31FS KKR Capital Corp. (FSK:N) .................................................... 35Fulton Financial Corporation (FULT:Q) ...................................... 31FVCBankcorp, Inc. (FVCB:Q) ...................................................... 31G1 Therapeutics, Inc. (GTHX:Q) ................................................. 39Galapagos NV (GLPG:Q) ............................................................ 39Galmed Pharmaceuticals Ltd. (GLMD:Q) .................................... 39Gaming and Leisure Properties, Inc. (GLPI:Q) ............................. 52GDS Holdings Limited (GDS:Q) .................................................. 60Genesis Energy, L.P. (GEL:N) ..................................................... 24GenMark Diagnostics, Inc. (GNMK:Q) ......................................... 39Genuine Parts Company (GPC:N) ............................................... 18German American Bancorp, Inc. (GABC:Q) ................................. 31GFL Environmental Inc. (GFL:N) ................................................. 44Gibson Energy Inc. (GEI:T) ......................................................... 27Gilead Sciences, Inc. (GILD:Q) ................................................... 39Glacier Bancorp, Inc. (GBCI:Q) ................................................... 31Global Blood Therapeutics, Inc. (GBT:Q) .................................... 39Global Partners LP (GLP:N) ....................................................... 24Global Payments Inc. (GPN:N) ................................................... 57GMS Inc. (GMS:N) ..................................................................... 44GoDaddy Inc. (GDDY:N) ............................................................. 59goeasy Ltd. (GSY:T) ................................................................... 36Gogo Inc. (GOGO:Q) .................................................................. 60GoHealth, Inc. (GOCO:Q) ........................................................... 34Goldman Sachs BDC, Inc. (GSBD:N) ........................................... 35GOL Linhas Aereas Inteligentes S.A. (GOL:N) .............................. 64Golub Capital BDC, Inc. (GBDC:Q) .............................................. 35Goodfood Market Corp. (FOOD:T) .............................................. 21GoodRx Holdings, Inc. (GDRX:Q) ................................................ 58Granite Point Mortgage Trust Inc. (GPMT:N) ............................... 52Great Ajax Corp. (AJX:N) ........................................................... 52Great Western Bancorp, Inc. (GWB:N) ........................................ 31Greenlane Renewables Inc. (GRN:V) .......................................... 27Green Plains Partners LP (GPP:Q) .............................................. 24GreenSky, Inc. (GSKY:Q) ............................................................ 58GrubHub Inc. (GRUB:N) ............................................................. 58GTT Communications, Inc. (GTT:N) ............................................ 61Guaranty Federal Bancshares, Inc. (GFED:Q) .............................. 31GW Pharmaceuticals plc (GWPH:Q) ........................................... 39Haemonetics Corporation (HAE:N) ............................................ 40Hallmark Financial Services, Inc. (HALL:Q) ................................. 34Hancock Whitney Corporation (HWC:Q) ..................................... 31Hanesbrands Inc. (HBI:N) .......................................................... 20Hanmi Financial Corporation (HAFC:Q) ...................................... 31Harley-Davidson, Inc. (HOG:N) .................................................. 19Harmonic Inc. (HLIT:Q) ............................................................. 57HBT Financial, Inc. (HBT:Q) ....................................................... 31HCA Healthcare, Inc. (HCA:N) .................................................... 40HD Supply Holdings, Inc. (HDS:Q) .............................................. 44Healthcare Realty Trust Incorporated (HR:N) ............................. 51Healthcare Trust of America, Inc. (HTA:N) .................................. 51

Health Catalyst, Inc. (HCAT:Q) ................................................... 39HealthEquity, Inc. (HQY:Q) ........................................................ 34Healthpeak Properties, Inc. (PEAK:N) ........................................ 51HealthStream, Inc. (HSTM:Q) .................................................... 39Heartland Financial USA, Inc. (HTLF:Q) ...................................... 31Heritage Commerce Corp (HTBK:Q) ........................................... 31Heritage Financial Corporation (HFWA:Q) .................................. 31Heroux-Devtek Inc. (HRX:T) ....................................................... 45Hersha Hospitality Trust (HT:N) ................................................. 51Heska Corporation (HSKA:Q) ..................................................... 38Hess Corporation (HES:N) ......................................................... 23Hewlett Packard Enterprise Company (HPE:N) ........................... 57Hill-Rom Holdings, Inc. (HRC:N) ................................................ 40Hilltop Holdings Inc. (HTH:N) .................................................... 31Hilton 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) ................................................... 31Home BancShares, Inc. (HOMB:Q) ............................................. 31Home Capital Group Inc. (HCG:T) .............................................. 36Hope Bancorp, Inc. (HOPE:Q) .................................................... 31Horizon Bancorp, Inc. (HBNC:Q) ................................................ 31Horizon North Logistics Inc. (HNL:T) .......................................... 46Host Hotels & Resorts, Inc. (HST:Q) ........................................... 51Howard Bancorp, Inc. (HBMD:Q) ............................................... 31Hub Group, Inc. (HUBG:Q) ......................................................... 64HubSpot, Inc. (HUBS:N) ............................................................ 56Hudbay Minerals, Inc. (HBM:T) .................................................. 48Huntington Bancshares Incorporated (HBAN:Q) ......................... 31Husky Energy Inc. (HSE:T) ......................................................... 28Hyatt Hotels Corporation (H:N) ................................................. 51Hydro One Ltd. (H:T) ................................................................ 27i3 Verticals, Inc. (IIIV:Q) ............................................................. 58IAMGOLD Corporation (IAG:N) ................................................... 48IBI Group Inc. (IBG:T) ................................................................ 46ICU Medical, Inc. (ICUI:Q) .......................................................... 41IDEXX Laboratories, Inc. (IDXX:Q) ............................................... 38II-VI Incorporated (IIVI:Q) .......................................................... 57Immunovant, Inc. (IMVT:Q) ....................................................... 39Imperial Oil Limited (IMO:T) ...................................................... 28IMV Inc. (IMV:Q) ........................................................................ 42Independent Bank Group, Inc. (IBTX:Q) ..................................... 31Infinera Corporation (INFN:Q) ................................................... 57InflaRx N.V. (IFRX:Q) ................................................................. 39Information Services Corporation (ISV:T) ................................... 36Innergex Renewable Energy Inc. (INE:T) ..................................... 27Insight Enterprises, Inc. (NSIT:Q) ............................................... 59Insulet Corporation (PODD:Q) ................................................... 41Intact Financial Corporation (IFC:T) ........................................... 36Integra LifeSciences Holdings Corporation (IART:Q) ................... 41Integra Resources Corp. (ITR:V) ................................................. 48Intel Corporation (INTC:Q) ........................................................ 60Intellia Therapeutics, Inc. (NTLA:Q) ........................................... 39Intelsat S.A. (INTEQ:O) .............................................................. 60Intercept Pharmaceuticals, Inc. (ICPT:Q) ................................... 39

Company Index


Intercontinental Exchange, Inc. (ICE:N) ...................................... 33Interface, Inc. (TILE:Q) .............................................................. 18Interfor Corporation (IFP:T) ...................................................... 45International Consolidated Airlines Group, S.A. (IAG:MAD) .......... 64Inter Parfums, Inc. (IPAR:Q) ...................................................... 19Inter Pipeline Ltd. (IPL:T) .......................................................... 27InterRent Real Estate Investment Trust (IIP.UN:T) ...................... 54Intuitive Surgical, Inc. (ISRG:Q) ................................................. 40Investcorp Credit Management BDC, Inc. (ICMB:Q) ..................... 35Investors Real Estate Trust (IRET:N) .......................................... 53Invitation Homes Inc. (INVH:N) .................................................. 53INV Metals Inc. (INV:T) .............................................................. 48IPG Photonics Corporation (IPGP:Q) .......................................... 56Iridium Communications Inc. (IRDM:Q) ...................................... 60iRobot Corporation (IRBT:Q) ..................................................... 56iStar Inc. (STAR:N) .................................................................... 52Itafos (IFOS:V) .......................................................................... 45Itron, Inc. (ITRI:Q) ..................................................................... 25Ivanhoe Mines Ltd. (IVN:T) ........................................................ 48J.B. Hunt Transport Services, Inc. (JBHT:Q) ............................... 64Jabil Inc. (JBL:N) ...................................................................... 59Jack Henry & Associates, Inc. (JKHY:Q) ...................................... 58JetBlue Airways Corporation (JBLU:Q) ...................................... 64Johnson & Johnson (JNJ:N) ...................................................... 41Jones Lang LaSalle Incorporated (JLL:N) ................................... 33Jounce Therapeutics, Inc. (JNCE:Q) ........................................... 39Jumia Technologies AG (JMIA:N) ............................................... 58Juniper Networks, Inc. (JNPR:N) ............................................... 57K92 Mining Inc. (KNT:V) ............................................................ 48Kadmon Holdings, Inc. (KDMN:Q) .............................................. 39Kansas City Southern (KSU:N) ................................................... 64KB Home (KBH:N) ..................................................................... 51K-Bro Linen Inc. (KBL:T) ............................................................ 21Kelt Exploration Ltd. (KEL:T) ..................................................... 26Kemper Corporation (KMPR:N) .................................................. 34Keyera Corp. (KEY:T) ................................................................. 27Killam Apartment REIT (KMP.UN:T) ........................................... 54Kimbell Royalty Partners L.P. (KRP:N) ....................................... 23Kinder Morgan, Inc. (KMI:N) ...................................................... 24Kinross Gold Corporation (KGC:N) ............................................. 48KKR Real Estate Finance Trust Inc. (KREF:N) .............................. 52Knight Therapeutics Inc. (GUD:T) .............................................. 42KVH 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) ................................................ 31Lakeland Financial Corporation (LKFN:Q) .................................. 31Landmark Infrastructure Partners LP (LMRK:Q) .......................... 61Landstar System, Inc. (LSTR:Q) ................................................. 64Lannett Company, Inc. (LCI:N) .................................................. 41Laredo Petroleum, Inc. (LPI:N) .................................................. 23LATAM Airlines Group S.A. (LTMAQ:O) ........................................ 64La-Z-Boy Incorporated (LZB:N) .................................................. 18Leap Therapeutics, Inc. (LPTX:Q) ............................................... 42Leggett & Platt, Incorporated (LEG:N) ........................................ 18

Lennar Corporation (LEN:N) ...................................................... 51Leucrotta Exploration Inc. (LXE:V) ............................................. 26Level One Bancorp, Inc. (LEVL:Q) .............................................. 31Life Storage, Inc. (LSI:N) ........................................................... 53Lightspeed POS Inc. (LSPD:T) .................................................... 62Limelight Networks, Inc. (LLNW:Q) ............................................ 58Limestone Bancorp, Inc. (LMST:Q) ............................................. 32Lineage Cell Therapeutics Inc. (LCTX:N) ..................................... 39Livent Corporation (LTHM:N) .................................................... 25Live Oak Bancshares, Inc. (LOB:Q) ............................................. 32LKQ Corporation (LKQ:Q) .......................................................... 44LM Ericsson Telephone Company (ERIC:Q) ................................. 57Lowe's Companies, Inc. (LOW:N) ............................................... 19lululemon athletica inc. (LULU:Q) .............................................. 20Lumentum Holdings Inc. (LITE:Q) .............................................. 57Lumina Gold Corp. (LUM:V) ....................................................... 48Lundin Mining Corporation (LUN:T) ........................................... 48Lyft, Inc. (LYFT:Q) ..................................................................... 58M.D.C. Holdings, Inc. (MDC:N) .................................................... 51MACOM Technology Solutions Holdings, Inc. (MTSI:Q) ................ 60Madrigal Pharmaceuticals, Inc. (MDGL:Q) .................................. 39Magellan Midstream Partners, L.P. (MMP:N) ............................... 24Magna International Inc. (MGA:N) .............................................. 21MAG Silver Corp. (MAG:T) .......................................................... 49Main Street Capital Corporation (MAIN:N) .................................. 35Malibu Boats, Inc. (MBUU:Q) ..................................................... 19Mallinckrodt plc (MNKKQ:O) ..................................................... 41Manhattan Associates, Inc. (MANH:Q) ........................................ 56Marathon Gold Corp. (MOZ:T) ................................................... 48Marathon Oil Corporation (MRO:N) ............................................ 23Marathon Petroleum Corporation (MPC:N) ................................ 23MarineMax, Inc. (HZO:N) ........................................................... 19MarketAxess Holdings Inc. (MKTX:Q) .......................................... 33Marriott International, Inc. (MAR:Q) ........................................... 51Marsh & McLennan Companies, Inc. (MMC:N) ............................. 34Martinrea International Inc. (MRE:T) .......................................... 21Marvell Technology Group Ltd. (MRVL:Q) ................................... 60Masco Corporation (MAS:N) ...................................................... 18Masimo Corporation (MASI:Q) ................................................... 40Mastercard, Inc. (MA:N) ............................................................. 58MasterCraft Boat Holdings, Inc. (MCFT:Q) .................................. 19Matador Resources Company (MTDR:N) .................................... 23MAV Beauty Brands Inc. (MAV:T) ................................................ 19Maverix Metals Inc. (MMX:T) ...................................................... 48Maxar Technologies Ltd. (MAXR:N) ............................................ 62Maxeon Solar Technologies, Ltd. (MAXN:Q) ................................ 25Maxim Integrated Products, Inc. (MXIM:Q) ................................. 60MAXIMUS, Inc. (MMS:N) ............................................................. 59McDonald's Corporation (MCD:N) .............................................. 20McKesson Corporation (MCK:N) ................................................. 40mCloud Technologies Corp. (MCLD:V) ........................................ 62Medtronic Public Limited Company (MDT:N) .............................. 41MEG Energy Corp. (MEG:T) ........................................................ 27Mercantile Bank Corporation (MBWM:Q) .................................... 32Mercer International Inc. (MERC:Q) ............................................ 45Merchants Bancorp (MBIN:Q) .................................................... 32

Company Index


Mercury General Corporation (MCY:N) ....................................... 34Meridian Bancorp, Inc. (EBSB:Q) ............................................... 32Merit Medical Systems, Inc. (MMSI:Q) ......................................... 41Mesa Air Group, Inc. (MESA:Q) ................................................... 64Meta Financial Group, Inc. (CASH:Q) .......................................... 32Methanex (MEOH:Q) ................................................................. 45MetroCity Bankshares, Inc. (MCBS:Q) ......................................... 32MFA Financial, Inc. (MFA:N) ....................................................... 52MGM Growth Properties LLC (MGP:N) ........................................ 52Microchip Technology Incorporated (MCHP:Q) ........................... 60Micron Technology, Inc. (MU:Q) ................................................. 60Microsoft Corporation (MSFT:Q) ................................................ 58Mid-America Apartment Communities, Inc. (MAA:N) ................... 53Minto Apartment REIT (MI.UN:T) ............................................... 54Mirum Pharmaceuticals, Inc. (MIRM:Q) ...................................... 39MiX Telematics Limited (MIXT:N) ............................................... 56MobileIron, Inc. (MOBL:Q) ......................................................... 58Model N, Inc. (MODN:N) ............................................................ 56Mogo Inc. (MOGO:T) ................................................................. 36Mohawk Industries, Inc. (MHK:N) ............................................... 18Monolithic Power Systems, Inc. (MPWR:Q) ................................. 60Monroe Capital Corp. (MRCC:Q) ................................................ 35Montage Gold Corp. (MAU:V) ..................................................... 48Moody's Corporation (MCO:N) ................................................... 33Motorola Solutions, Inc. (MSI:N) ................................................ 57MPLX L.P. (MPLX:N) .................................................................. 24MSCI Inc. (MSCI:N) .................................................................... 33MSC Industrial Direct Co., Inc. (MSM:N) ...................................... 44MTY Food Group Inc. (MTY:T) .................................................... 21Mullen Group Ltd. (MTL:T) ........................................................ 27Murphy USA Inc. (MUSA:N) ........................................................ 18NanoXplore Inc. (GRA:V) ........................................................... 46Nasdaq, Inc. (NDAQ:Q) .............................................................. 33National Fuel Gas Company (NFG:N) ......................................... 23National Retail Properties, Inc. (NNN:N) .................................... 52Natus Medical Incorporated (NTUS:Q) ....................................... 41Navistar International Corporation (NAV:N) ............................... 44nCino, Inc. (NCNO:Q) ................................................................ 56NeoGenomics, Inc. (NEO:Q) ....................................................... 39Neo Performance Materials Inc. (NEO:T) .................................... 46NeoPhotonics Corporation (NPTN:N) ......................................... 57NetApp, Inc. (NTAP:Q) .............................................................. 57Netflix, Inc. (NFLX:Q) ................................................................. 58NETGEAR, Inc. (NTGR:Q) ........................................................... 57Newcore Gold Ltd. (NCAU:V) ..................................................... 48Newell Brands Inc. (NWL:Q) ...................................................... 19New Gold Inc. (NGD:N) .............................................................. 48Newmark Group, Inc. (NMRK:Q) ................................................ 33Newmont Corporation (NEM:N) ................................................. 48New Relic, Inc. (NEWR:N) .......................................................... 58New Residential Investment Corp. (NRZ:N) ................................ 52Newtek Business Services Corp. (NEWT:Q) ................................. 35New York Community Bancorp, Inc. (NYCB:N) ............................ 32New York Mortgage Trust, Inc. (NYMT:N) .................................... 52NexGen Energy Ltd. (NXE:T) ...................................................... 49NexJ Systems Inc. (NXJ:T) ......................................................... 62

NexPoint 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) ..................................... 39NIC Inc. (EGOV:Q) ..................................................................... 59NIKE, Inc. (NKE:N) .................................................................... 20nLIGHT, Inc. (LASR:Q) ............................................................... 56Nokia Corporation (NOK:N) ....................................................... 57Norbord Inc. (OSB:T) ................................................................ 45Norfolk Southern Corporation (NSC:N) ...................................... 65North American Construction Group (NOA:T) ............................. 45Northland Power Inc. (NPI:T) .................................................... 27Northwest Bancshares, Inc. (NWBI:Q) ........................................ 32NortonLifeLock Inc. (NLOK:Q) ................................................... 58NuStar Energy L.P. (NS:N) ......................................................... 24Nutanix, Inc. (NTNX:Q) .............................................................. 57Nutrien Ltd. (NTR:N) ................................................................. 45Nuvei Corporation (NVEI:T) ....................................................... 58NuVista Energy Ltd. (NVA:T) ...................................................... 26NVIDIA Corporation (NVDA:Q) .................................................... 60NXP Semiconductors N.V. (NXPI:Q) ............................................ 60O'Reilly Automotive, Inc. (ORLY:Q) ............................................ 18Obsidian Energy Ltd. (OBE:T) .................................................... 26Occidental Petroleum Corporation (OXY:N) ................................ 23OceanaGold Corporation (OGC:T) .............................................. 48OceanFirst Financial Corp. (OCFC:Q) ......................................... 32Ocular Therapeutix, Inc. (OCUL:Q) ............................................. 39Old Dominion Freight Line, Inc. (ODFL:Q) ................................... 65Old National Bancorp (ONB:Q) .................................................. 32Old Republic International Corporation (ORI:N) ......................... 34Old Second Bancorp, Inc. (OSBC:Q) ........................................... 32Omega Healthcare Investors, Inc. (OHI:N) .................................. 51ONEOK, Inc. (OKE:N) ................................................................. 24OneWater Marine Inc. (ONEW:Q) ............................................... 19ON Semiconductor Corporation (ON:Q) ..................................... 60Open Text Corporation (OTEX:Q) ............................................... 62Optiva Inc. (OPT:T) ................................................................... 62Oracle Corporation (ORCL:N) .................................................... 58OraSure Technologies, Inc. (OSUR:Q) ........................................ 39ORBCOMM Inc. (ORBC:Q) .......................................................... 60Orezone Gold Corporation (ORE:V) ............................................ 48OrganiGram Holdings Inc. (OGI:T) ............................................. 42Origin Bancorp, Inc. (OBNK:Q) .................................................. 32Oshkosh Corporation (OSK:N) ................................................... 44Osisko Gold Royalties Ltd (OR:T) ............................................... 49Ovintiv Inc. (OVV:N) .................................................................. 28Owl Rock Capital Corporation (ORCC:N) .................................... 35PACCAR Inc (PCAR:Q) ............................................................... 44Pacific Premier Bancorp, Inc. (PPBI:Q) ....................................... 32PacWest Bancorp (PACW:Q) ...................................................... 32PAE Incorporated (PAE:Q) ......................................................... 59Palo Alto Networks, Inc. (PANW:N) ............................................ 59Paramount Resources Ltd. (POU:T) ........................................... 26Park Hotels & Resorts Inc. (PK:N) .............................................. 51Parkland Fuel Corporation (PKI:T) ............................................. 45

Company Index


Parsley Energy, Inc. (PE:N) ........................................................ 23Paylocity Holding Corporation (PCTY:Q) .................................... 56PayPal Holdings, Inc. (PYPL:Q) .................................................. 58PBF Energy Inc. (PBF:N) ............................................................ 23PBF Logistics L.P. (PBFX:N) ....................................................... 24PCB Bancorp (PCB:Q) ............................................................... 32Pebblebrook Hotel Trust (PEB:N) .............................................. 51Peloton Interactive, Inc. (PTON:Q) ............................................. 58Pembina Pipeline Corporation (PPL:T) ...................................... 27PennantPark Investment Corporation (PNNT:Q) ........................ 35People's United Financial, Inc. (PBCT:Q) .................................... 32Peoples Bancorp Inc. (PEBO:Q) ................................................. 32Perimeter Medical Imaging AI Inc. (PINK:V) ................................ 42Perrigo Company PLC (PRGO:N) ................................................ 41PetIQ, Inc. (PETQ:Q) ................................................................. 19Petrus Resources Ltd. (PRQ:T) .................................................. 26Peyto Exploration & Development Corp. (PEY:T) ......................... 26PGT Innovations, Inc. (PGTI:N) .................................................. 18Phillips 66 (PSX:N) .................................................................... 23Phillips 66 Partners L.P. (PSXP:N) .............................................. 24Phreesia, Inc. (PHR:N) ............................................................... 39Physicians Realty Trust (DOC:N) ................................................ 51Ping Identity Holding Corp. (PING:N) ......................................... 59Pinnacle Financial Partners, Inc. (PNFP:Q) ................................. 32Pioneer Natural Resources Company (PXD:N) ............................ 23Pipestone Energy (PIPE:V) ........................................................ 26Plains All American Pipeline, L.P. (PAA:N) .................................. 24Plains GP Holdings, L.P. (PAGP:N) ............................................. 24Planet Fitness, Inc. (PLNT:N) ..................................................... 19Plexus Corp. (PLXS:Q) ............................................................... 59Pluralsight, Inc. (PS:Q) .............................................................. 56PLx Pharma Inc. (PLXP:Q) ......................................................... 41Polaris Inc. (PII:N) ..................................................................... 19Polaris Infrastructure Inc. (PIF:T) ............................................... 27PolyPid Ltd. (PYPD:Q) ............................................................... 41PotlatchDeltic Corporation (PCH:Q) .......................................... 53PRA Group, Inc. (PRAA:Q) .......................................................... 35PrairieSky Royalty Ltd. (PSK:T) ................................................. 26Precision Drilling Corporation (PD:T) ......................................... 27Preferred Bank (PFBC:Q) ........................................................... 32Premier, Inc. (PINC:Q) ............................................................... 40Premier Financial Corp. (PFC:Q) ................................................ 32Prestige Consumer Healthcare, Inc. (PBH:N) .............................. 19Primo Water Corporation (PRMW:N) .......................................... 25ProAssurance Corporation (PRA:N) ............................................ 34Profound Medical Corp. (PRN:T) ................................................ 42Progenity, Inc. (PROG:Q) ........................................................... 39PROG Holdings, Inc. (PRG:N) ..................................................... 19Prospect Capital Corporation (PSEC:Q) ..................................... 35Prosperity Bancshares, Inc. (PB:N) ............................................ 32PTC Therapeutics, Inc. (PTCT:Q) ................................................ 39Public Storage (PSA:N) ............................................................. 53PulteGroup, Inc. (PHM:N) .......................................................... 51Pure Storage, Inc. (PSTG:N) ...................................................... 57Purple Innovation, Inc. (PRPL:Q) ............................................... 18Q2 Holdings, Inc. (QTWO:N) ...................................................... 56

QCR Holdings, Inc. (QCRH:Q) .................................................... 32QEP Resources, Inc. (QEP:N) ..................................................... 23Qorvo, Inc. (QRVO:Q) ................................................................ 60QTS Realty Trust, Inc. (QTS:N) ................................................... 60QUALCOMM Incorporated (QCOM:Q) ......................................... 60Questor Technology Inc. (QST:V) ............................................... 27Quidel Corporation (QDEL:Q) .................................................... 39Quisitive Technology Solutions Inc. (QUIS:V) .............................. 36RadNet, Inc. (RDNT:Q) .............................................................. 38Range Resources Corporation (RRC:N) ...................................... 23Rapid7, Inc. (RPD:Q) ................................................................. 59Rattler Midstream LP (RTLR:Q) .................................................. 24Rayonier Inc. (RYN:N) ............................................................... 53Ready Capital Corporation (RC:N) ............................................. 52Real Matters Inc. (REAL:T) ......................................................... 62Realty Income Corporation (O:N) .............................................. 52Red Robin Gourmet Burgers, Inc. (RRGB:Q) ................................ 20Redwood Trust, Inc. (RWT:N) .................................................... 52Regeneron Pharmaceuticals, Inc. (REGN:Q) ............................... 39REGENXBIO Inc. (RGNX:Q) ......................................................... 39Regions Financial Corporation (RF:N) ........................................ 32Reliant Bancorp, Inc. (RBNC:Q) ................................................. 32Renasant Corporation (RNST:Q) ................................................ 32Rent-A-Center, Inc. (RCII:Q) ....................................................... 19Republic Services, Inc. (RSG:N) ................................................. 44Revolve Group, Inc. (RVLV:N) ..................................................... 59RH (RH:N) ................................................................................ 19RingCentral, Inc. (RNG:N) .......................................................... 57Ritchie Bros. Auctioneers (RBA:N) .............................................. 46Riverview Bancorp, Inc. (RVSB:Q) .............................................. 32RLJ Lodging Trust (RLJ:N) ........................................................ 51Rocky Mountain Dealerships Inc. (RME:T) .................................. 46Roper Technologies (ROP:N) ..................................................... 56Roxgold Inc. (ROXG:T) ............................................................... 49Royal Gold Inc. (RGLD:Q) .......................................................... 49Russel Metals Inc. (RUS:T) ......................................................... 46Ruth's Hospitality Group, Inc. (RUTH:Q) ..................................... 20Ryanair Holdings Plc (RYAAY:Q) ................................................. 64Ryman Hospitality Properties, Inc. (RHP:N) ................................ 51S&P Global Inc. (SPGI:N) ........................................................... 33S&T Bancorp, Inc. (STBA:Q) ....................................................... 32Sabra Health Care REIT, Inc. (SBRA:Q) ....................................... 51Safehold Inc. (SAFE:N) .............................................................. 52Sage Therapeutics, Inc. (SAGE:Q) .............................................. 39Saia, Inc. (SAIA:Q) ..................................................................... 65salesforce.com, inc. (CRM:N) ..................................................... 57Sally Beauty Holdings, Inc. (SBH:N) ........................................... 19Sandstorm Gold Ltd. (SAND:N) .................................................. 49Sarepta Therapeutics, Inc. (SRPT:Q) .......................................... 39SBA Communications Corporation (SBAC:Q) .............................. 60ScanSource, Inc. (SCSC:Q) ........................................................ 59Seacoast Banking Corporation of Florida (SBCF:Q) ..................... 32Secure Energy Services Inc. (SES:T) ........................................... 27SEI Investments Company (SEIC:Q) ........................................... 33Senseonics Holdings, Inc. (SENS:N) ........................................... 41Service Corporation International (SCI:N) .................................. 39

Company Index


ServiceNow, Inc. (NOW:N) ......................................................... 58ServisFirst Bancshares, Inc. (SFBS:Q) ......................................... 32Seven Generations Energy Ltd. (VII:T) ........................................ 26Shake Shack Inc. (SHAK:N) ....................................................... 20Shenandoah Telecommunications Company (SHEN:Q) .............. 61Shift4 Payments, Inc. (FOUR:N) ................................................. 58Shopify Inc. (SHOP:N) ............................................................... 57Sierra Bancorp (BSRR:Q) ........................................................... 32Sierra Wireless, Inc. (SWIR:Q) .................................................... 62Signature Bank (SBNY:Q) .......................................................... 32SilverCrest Metals Inc. (SIL:T) .................................................... 49Simmons First National Corporation (SFNC:Q) ........................... 32Simulations Plus, Inc. (SLP:Q) ................................................... 40SiTime Corporation (SITM:Q) .................................................... 60Sixth Street Specialty Lending, Inc. (TSLX:N) .............................. 35Skeena Resources Ltd. (SKE:T) .................................................. 49SkyWest, Inc. (SKYW:Q) ............................................................. 64Skyworks Solutions, Inc. (SWKS:Q) ............................................ 60Sleep Number Corporation (SNBR:Q) ........................................ 18SmartFinancial, Inc. (SMBK:Q) ................................................... 32SM Energy Company (SM:N) ...................................................... 23Snap Inc. (SNAP:N) ................................................................... 59SNC-Lavalin Group Inc. (SNC:T) ................................................. 46Solar Capital Ltd. (SLRC:Q) ....................................................... 35Sol-Gel Technologies Ltd. (SLGL:Q) ........................................... 41Sonos, Inc. (SONO:Q) ................................................................ 57South State Corporation (SSB:Q) .............................................. 32Southwest Airlines Co. (LUV:N) .................................................. 64Southwestern Energy Company (SWN:N) ................................... 23Spark Power Group (SPG:T) ...................................................... 27Spartan Delta Corp. (SDE:V) ...................................................... 26Spirit Airlines, Inc. (SAVE:N) ...................................................... 64Spirit Realty Capital, Inc. (SRC:N) .............................................. 52Splunk Inc. (SPLK:Q) ................................................................. 58Spotify Technology S.A. (SPOT:N) .............................................. 58Sprague Resources LP (SRLP:N) ................................................ 24Square, Inc. (SQ:N) ................................................................... 58SS&C Technologies Holdings, Inc. (SSNC:Q) ............................... 33STAG 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) ........................ 35STEP Energy Services Ltd. (STEP:T) ........................................... 27Stericycle, Inc. (SRCL:Q) ............................................................ 40STERIS plc (STE:N) ................................................................... 40Stock Yards Bancorp, Inc. (SYBT:Q) ........................................... 32StorageVault Canada Inc. (SVI:V) ............................................... 54STORE Capital Corporation (STOR:N) ........................................ 52Storm Resources Ltd. (SRX:T) .................................................... 26Stryker Corporation (SYK:N) ...................................................... 40Suburban Propane Partners, L.P. (SPH:N) .................................. 24Summit Hotel Properties, Inc. (INN:N) ....................................... 51Suncor Energy Inc. (SU:T) ......................................................... 28Sunnova Energy International Inc. (NOVA:N) .............................. 25Sunoco LP (SUN:N) ................................................................... 24

SunPower Corporation (SPWR:Q) .............................................. 25Sunstone Hotel Investors, Inc. (SHO:N) ...................................... 51Superior Plus Corp. (SPB:T) ...................................................... 45Surge Energy Inc. (SGY:T) .......................................................... 26SVB Financial Group (SIVB:Q) .................................................... 32Switch, Inc. (SWCH:N) ............................................................... 60SYNNEX Corporation (SNX:N) .................................................... 59Synovus Financial Corp. (SNV:N) ............................................... 32Tamarack Valley Energy Ltd. (TVE:T) ......................................... 26Tandem Diabetes Care, Inc. (TNDM:Q) ....................................... 41Targa Resources Corp. (TRGP:N) ............................................... 24Target Corporation (TGT:N) ...................................................... 18Tarsus Pharmaceuticals, Inc. (TARS:Q) ...................................... 39TC Energy Corporation (TRP:T) ................................................. 27TCF Financial Corporation (TCF:Q) ............................................ 32TC PipeLines, LP (TCP:N) .......................................................... 24TechTarget, Inc. (TTGT:Q) ......................................................... 59Teck Resources Limited (TECK.B:T) ........................................... 48Tecnoglass Inc. (TGLS:Q) .......................................................... 44Teleflex Incorporated (TFX:N) .................................................... 40Telephone and Data Systems, Inc. (TDS:N) ................................ 61Tellurian Inc. (TELL:Q) .............................................................. 24Tempur Sealy International, Inc. (TPX:N) ................................... 18Tenet Healthcare Corporation (THC:N) ...................................... 40Teranga Gold Corp. (TGZ:T) ...................................................... 49Teva Pharmaceutical Industries Ltd. (TEVA:N) ............................ 41Texas Capital Bancshares, Inc. (TCBI:Q) ..................................... 32Texas Instruments Incorporated (TXN:Q) ................................... 60Texas Roadhouse, Inc. (TXRH:Q) ............................................... 20The Allstate Corporation (ALL:N) ............................................... 34The Bancorp, Inc. (TBBK:Q) ....................................................... 32The Bank of N.T. Butterfield & Son Limited (NTB:N) .................... 32The Charles Schwab Corporation (SCHW:N) ............................... 33The Cooper Companies, Inc. (COO:N) ........................................ 40The Descartes Systems Group Inc. (DSGX:Q) .............................. 62The Estee Lauder Companies Inc. (EL:N) .................................... 19The First of Long Island Corporation (FLIC:Q) ............................. 32The Home Depot, Inc. (HD:N) .................................................... 19The PNC Financial Services Group, Inc. (PNC:N) ......................... 32The Progressive Corporation (PGR:N) ........................................ 34The RealReal, Inc. (REAL:Q) ....................................................... 59The Scotts Miracle-Gro Company (SMG:N) ................................. 19The Toro Company (TTC:N) ....................................................... 18The Trade Desk, Inc. (TTD:Q) ..................................................... 59The Travelers Companies, Inc. (TRV:N) ...................................... 34The Valens Company (VLNS:T) .................................................. 42The Williams Companies, Inc. (WMB:N) ...................................... 24T-Mobile US Inc. (TMUS:Q) ........................................................ 61Toll Brothers, Inc. (TOL:N) ........................................................ 51Topaz Energy Corp. (TPZ:T) ...................................................... 27TORC Oil & Gas Ltd. (TOG:T) ..................................................... 26Toromont Industries Ltd. (TIH:T) ............................................... 46Tourmaline Oil Corp. (TOU:T) .................................................... 26TowneBank (TOWN:Q) .............................................................. 33TPG RE Finance Trust, Inc. (TRTX:N) .......................................... 52TPI Composites, Inc. (TPIC:Q) .................................................... 25

Company Index


Tractor Supply Company (TSCO:Q) ........................................... 19Tradeweb Markets Inc. (TW:Q) .................................................. 33TransAlta Renewables Inc. (RNW:T) ........................................... 27TransEnterix, Inc. (TRXC:N) ....................................................... 40Trevali Mining Corporation (TV:T) .............................................. 48Trican Well Service Ltd. (TCW:T) ................................................ 27TriCo Bancshares (TCBK:Q) ....................................................... 33Trilogy Metals Inc. (TMQ:T) ....................................................... 48Trimble Inc. (TRMB:Q) .............................................................. 56TriState Capital Holdings, Inc. (TSC:Q) ....................................... 33Trisura Group Ltd. (TSU:T) ........................................................ 36Triumph Bancorp, Inc. (TBK:Q) ................................................. 33True North Commercial REIT (TNT.UN:T) ................................... 54Truist Financial Corporation (TFC:N) ......................................... 33Trupanion, Inc. (TRUP:Q) .......................................................... 38Trustmark Corporation (TRMK:Q) .............................................. 33Twitter, Inc. (TWTR:N) .............................................................. 59Two Harbors Investment Corp. (TWO:N) .................................... 52U.S. Bancorp (USB:N) ............................................................... 33Uber Technologies, Inc. (UBER:N) .............................................. 59Ulta Beauty, Inc. (ULTA:Q) ........................................................ 19UMB Financial Corporation (UMBF:Q) ........................................ 33Under Armour, Inc. (UAA:N) ...................................................... 20Union Pacific Corporation (UNP:N) ............................................ 65uniQure N.V. (QURE:Q) .............................................................. 39United Airlines Holdings, Inc. (UAL:Q) ........................................ 64United Bankshares, Inc. (UBSI:Q) .............................................. 33United Community Banks, Inc. (UCBI:Q) .................................... 33UnitedHealth Group Incorporated (UNH:N) ................................ 40United Insurance Holdings Corp. (UIHC:Q) ................................. 34United Parcel Service, Inc. (UPS:N) ............................................ 64United States Cellular Corporation (USM:N) ............................... 61Uniti Group Inc. (UNIT:Q) .......................................................... 61Universal Health Services, Inc. (UHS:N) ...................................... 40Univest Financial Corporation (UVSP:Q) .................................... 33Upland Software, Inc. (UPLD:Q) ................................................ 57Uranium Participation Corporation (U:T) ................................... 49US Ecology, Inc. (ECOL:Q) ......................................................... 44V.F. Corporation (VFC:N) ........................................................... 20Valero Energy Corporation (VLO:N) ............................................ 23VBI Vaccines Inc. (VBIV:Q) ......................................................... 39Veeva Systems Inc. (VEEV:N) ..................................................... 57Velocity Financial, Inc. (VEL:N) .................................................. 52Ventas, Inc. (VTR:N) .................................................................. 51Verisk Analytics, Inc. (VRSK:Q) ................................................... 34Veritex Holdings, Inc. (VBTX:Q) .................................................. 33Verizon Communications Inc. (VZ:N) .......................................... 61Vermilion Energy Inc. (VET:T) .................................................... 26ViaSat, Inc. (VSAT:Q) ................................................................. 60Viatris Inc. (VTRS:Q) .................................................................. 41VICI Properties Inc. (VICI:N) ....................................................... 52Viking Therapeutics, Inc. (VKTX:Q) ............................................. 39Village Farms International Inc. (VFF:Q) ..................................... 42Viper Energy Partners LP (VNOM:Q) ........................................... 23Visa Inc. (V:N) ........................................................................... 58Visteon Corporation (VC:Q) ....................................................... 56

VMware, Inc. (VMW:N) ............................................................... 58Voyager Therapeutics, Inc. (VYGR:Q) .......................................... 39W.W. Grainger, Inc. (GWW:N) ..................................................... 44Wabash National Corporation (WNC:N) ...................................... 44Wajax Corporation (WJX:T) ....................................................... 46Walgreens Boots Alliance, Inc. (WBA:Q) ..................................... 40Walmart Inc. (WMT:N) ............................................................... 18Washington REIT (WRE:N) ......................................................... 53Waste Connections, Inc. (WCN:N) .............................................. 44Waste Management, Inc. (WM:N) ............................................... 44Wayfair, Inc. (W:N) .................................................................... 59Webster Financial Corporation (WBS:N) ..................................... 33Wells Fargo & Company (WFC:N) ............................................... 33Welltower Inc. (WELL:N) ............................................................ 51WesBanco, Inc. (WSBC:Q) .......................................................... 33WESCO International, Inc. (WCC:N) ............................................ 44Western Energy Services Corp. (WRG:T) ..................................... 27Western Forest Products Inc. (WEF:T) ........................................ 45West Fraser Timber Co. Ltd. (WFT:T) .......................................... 45WEX Inc. (WEX:N) ...................................................................... 58Weyerhaeuser Company (WY:N) ................................................ 53Wheaton Precious Metals Corp. (WPM:N) ................................... 49Whirlpool Corporation (WHR:N) ................................................ 18Whitecap Resources Inc. (WCP:T) .............................................. 26WhiteHorse Finance, Inc. (WHF:Q) ............................................. 35WideOpenWest, Inc. (WOW:N) ................................................... 61Williams-Sonoma, Inc. (WSM:N) ................................................ 19Willis Towers Watson Public Limited Company (WLTW:Q) ........... 34Wingstop Inc. (WING:Q) ............................................................ 20Wintrust Financial Corporation (WTFC:Q) ................................... 33Wix.com Ltd. (WIX:Q) ................................................................ 59Workiva Inc. (WK:N) .................................................................. 57WPX Energy, Inc. (WPX:N) ......................................................... 23WSP Global Inc. (WSP:T) ........................................................... 46Xebec Adsorption Inc. (XBC:V) ................................................... 27Xencor, Inc. (XNCR:Q) ............................................................... 39Xenia Hotels & Resorts, Inc. (XHR:N) .......................................... 51Xilinx, Inc. (XLNX:Q) .................................................................. 60XPO Logistics, Inc. (XPO:N) ........................................................ 64Xylem Inc. (XYL:N) .................................................................... 25Yamana Gold Inc. (AUY:N) ......................................................... 49Yangarra Resources Ltd. (YGR:T) ............................................... 26YETI Holdings, Inc. (YETI:N) ....................................................... 19Zimmer Biomet Holdings, Inc. (ZBH:N) ...................................... 40Zions Bancorporation, N.A. (ZION:Q) ......................................... 33Ziopharm Oncology, Inc. (ZIOP:Q) ............................................. 42Zoetis Inc. (ZTS:N) .................................................................... 38Zogenix, Inc. (ZGNX:Q) .............................................................. 39ZoomInfo Technologies Inc. (ZI:Q) ............................................. 57Zymeworks Inc. (ZYME:N) ......................................................... 42


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

CANAuto Parts ..................................................................................................................... 21Consumer & Retail .......................................................................................................... 21


52 Week EPS

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

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

Building ProductsAppliances and Other Building ProductsMasco Corporation (ng) MAS N MP3 M/GRW 53.67 NM 60.16 27.04 17.4 2.25 3.09 3.20 Dec $14,044 1.0% SD, JWPGT Innovations, Inc. (ng) PGTI N MP3 H/GRW 18.62 NM 20.10 6.88 19.2 0.82 0.97 1.10 Dec $1,098 0.0% SD, JWWhirlpool Corporation (ng) WHR N MP3 M/INC 194.61 NM 207.30 64.00 10.9 16.00 17.85 19.20 Dec $12,173 2.6% SD, JWFloor CoveringInterface, Inc. (ng) TILE Q MP3 H/GRW 8.35 NM 17.68 5.06 7.4 1.59 1.13 1.08 Dec $490 0.5% SD, JWMohawk Industries, Inc. (ng) MHK N SB1 M/GRW 125.83 140.00 144.37 56.62 15.2 10.04 8.30 10.75 Dec $8,959 0.0% SD, JWTools and Outdoor Power EquipmentStanley Black & Decker, Inc. (ng) SWK N MP3 M/INC 184.31 NM 195.00 70.00 21.6 8.40 8.55 9.45 Dec $29,530 1.5% SD, JWThe Toro Company (ng) TTC N MP3 M/GRW 90.71 NM 92.39 52.07 31.8 3.00 2.86 3.70 Oct $9,733 1.1% SD, JW

Furniture & Furnishings SuppliersBedding & Residential FurnitureCulp, Inc. (g) CULP N MO2 M/INC 14.32 15.00 16.15 5.28 51.7 0.45 -1.26A 0.28 Apr $176 2.9% BGEthan Allen Interiors Inc. (ng) ETH N MP3 M/INC 18.27 NM 19.20 8.38 13.9 1.56 0.52A 1.31 Jun $458 5.5% BGLa-Z-Boy Incorporated (ng) LZB N MO2 M/GRW 37.04 46.00 42.69 15.61 13.6 2.14 2.16A 2.71 Apr $1,709 1.5% BGLeggett & Platt, Incorporated (ng) LEG N SB1 M/INC 43.10 48.00 53.13 22.03 21.0 2.57 2.05 2.65 Dec $5,712 3.7% BGPurple Innovation, Inc. (ng) PRPL Q MO2 H/GRW 29.82 36.00 33.37 4.42 29.4 0.28 1.01 0.96 Dec $1,835 0.0% BGSleep Number Corporation (g) SNBR Q MP3 H/GRW 69.39 NM 74.36 15.27 17.0 2.70 4.08 4.22 Dec $1,926 0.0% BGTempur Sealy International, Inc. (ng) TPX N SB1 M/GRW 25.19 28.75 25.95 5.50 15.0 1.00 1.68 1.87 Dec $5,198 0.0% BG

Hardline RetailAuto Part RetailAdvance Auto Parts, Inc. (ng) AAP N MO2 M/GRW 147.70 175.00 170.50 71.33 17.0 8.19 8.70 9.90 Dec $10,021 0.7% MMAutoZone, Inc. (g) AZO N SB1 M/GRW 1,137.65 1,565.00 1,274.41 684.91 14.3 63.43 71.93A 79.70 Aug $26,371 0.0% MMGenuine Parts Company (ng) GPC N MP3 M/GRW 98.37 NM 107.08 49.68 19.7 5.38 5.00 5.90 Dec $14,194 3.2% MMO'Reilly Automotive, Inc. (ng) ORLY Q MO2 M/GRW 442.44 550.00 487.95 251.51 19.3 17.88 22.95 24.30 Dec $32,055 0.0% MMBig Box RetailersCostco Wholesale Corporation (ng) COST Q MO2 M/GRW 391.77 405.00 393.15 271.28 39.1 8.19 8.75A 10.01 Aug $172,861 0.7% BGTarget Corporation (ng) TGT N SB1 M/GRW 179.53 200.00 181.11 90.17 21.6 6.39 8.30 8.90 Jan $89,903 1.5% MMWalmart Inc. (ng) WMT N MO2 M/GRW 152.79 165.00 153.40 102.00 27.4 4.91 4.93A 5.59 Jan $432,969 1.4% BGConsumer Electronics RetailersBest Buy Co., Inc. (ng) BBY N SB1 M/GRW 108.80 150.00 124.89 48.10 13.3 5.32 6.07A 8.20 Jan $28,161 2.0% MMConvenience StoresAlimentation Couche-Tard Inc. ($D, ng) ATD.B T SB1 M/GRW C$43.13 53.00 47.49 30.40 18.3 1.66 1.97A 2.36 Apr C$48,002 0.8% BGCasey's General Stores, Inc. (ng) CASY Q MO2 H/GRW 181.68 190.00 196.57 114.01 23.7 5.51 7.10A 7.68 Apr $6,708 0.7% BGCore-Mark Holding Company, Inc. (ng) CORE Q MO2 M/GRW 31.19 34.00 36.02 20.93 18.7 1.71 1.67 1.78 Dec $1,401 1.7% BGMurphy USA Inc. (ng) MUSA N MP3 H/GRW 128.20 NM 144.09 78.75 9.7 5.21 13.23 7.39 Dec $3,663 0.8% BG


52 Week EPS

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Home/Land Improvement RetailFloor & Decor Holdings, Inc. (ng) FND N MO2 M/GRW 80.09 100.00 86.37 24.36 51.7 1.15 1.55 2.00 Dec $8,329 0.0% MMLowe's Companies, Inc. (f, ng) LOW N MP3 M/GRW 155.82 NM 180.67 60.00 17.9 5.74 8.70 8.60 Jan $114,172 1.5% MMThe Home Depot, Inc. (f, ng) HD N MO2 M/GRW 277.41 305.00 292.95 140.63 23.9 10.25 11.60 12.00 Jan $298,659 2.2% MMTractor Supply Company (g) TSCO Q SB1 M/GRW 140.81 170.00 157.07 63.89 20.9 4.68 6.75 6.75 Dec $16,404 1.1% MMRent-to-OwnPROG Holdings, Inc. (ng) PRG N SB1 M/GRW 62.93 68.00 67.20 13.01 12.3 3.89 5.13 5.16 Dec $4,252 0.3% BGRent-A-Center, Inc. (ng) RCII Q SB1 H/GRW 33.82 38.00 36.82 11.69 9.8 2.24 3.45 3.80 Dec $1,832 3.4% BGSpecialty RetailBed Bath & Beyond Inc. (f, ng) BBBY Q SB1 H/SPEC 20.96 26.00 26.16 3.43 NM 0.46 -0.84 1.07 Feb $2,641 0.0% BGRH (f, ng) RH N MP3 H/GRW 453.16 NM 467.37 73.14 27.3 11.66 16.57 17.62 Jan $8,841 0.0% BGWilliams-Sonoma, Inc. (f, ng) WSM N MP3 M/GRW 109.47 NM 114.65 26.01 13.8 4.84 7.93 7.27 Jan $8,517 1.9% BGValue RetailersDollar General Corporation (f, ng) DG N SB1 M/GRW 218.58 235.00 225.25 125.00 21.4 6.73 10.22 9.40 Jan $54,433 0.7% BGDollar Tree, Inc. (f, ng) DLTR Q MP3 H/GRW 109.24 NM 112.93 60.20 19.5 4.76 5.60 6.15 Jan $25,692 0.0% BG

Household & Personal Care ProductsChurch & Dwight Co., Inc. (ng) CHD N MP3 M/GRW 87.77 NM 98.96 47.98 31.1 2.47 2.82 3.07 Dec $21,806 1.1% JAInter Parfums, Inc. (ng) IPAR Q MP3 M/GRW 54.31 NM 75.00 34.20 63.9 1.90 0.85 1.65 Dec $1,713 0.0% JAMAV Beauty Brands Inc. ($D, ae) MAV T MP3 M/GRW C$4.99 NM 5.60 1.78 NM 29.49 34.03 35.97 Dec C$183 0.0% JANewell Brands Inc. (ng) NWL Q MP3 M/GRW 21.26 NM 21.60 10.44 12.5 1.60 1.70 1.60 Dec $9,021 4.3% JAPetIQ, Inc. (ae) PETQ Q MO2 M/GRW 28.78 35.00 38.99 15.83 0.5 60.67 62.00 100.97 Dec $826 0.0% JAPrestige Consumer Healthcare, Inc. (ng) PBH N MP3 H/GRW 35.57 NM 46.12 27.40 11.2 2.78 2.96A 3.18 Mar $1,782 0.0% JASally Beauty Holdings, Inc. (ng) SBH N MU4 H/GRW 11.50 NM 19.23 6.28 6.2 2.26 1.22A 1.85 Sep $1,297 0.0% JAThe Estee Lauder Companies Inc. (ng) EL N MO2 M/GRW 245.32 237.00 259.77 137.01 46.3 5.34 4.12A 5.30 Jun $90,633 0.9% JAThe Scotts Miracle-Gro Company (ng) SMG N MP3 M/GRW 175.77 NM 179.97 76.50 21.1 4.47 7.24A 8.35 Sep $9,797 1.4% JAUlta Beauty, Inc. (f, ng) ULTA Q MP3 H/GRW 275.40 NM 304.65 124.05 68.8 12.15 4.00 10.50 Jan $15,511 0.0% JA

Leisure ProductsAcushnet Holdings Corp. (ae) GOLF N MP3 M/GRW 37.70 NM 40.61 20.65 NM 240 211 250 Dec $2,801 1.6% JABrunswick Corporation (ng) BC N MO2 H/GRW 74.64 81.00 78.92 25.22 15.6 4.33 4.80 6.25 Dec $5,847 1.4% JACallaway Golf Company (ng) ELY N MO2 H/GRW 21.25 22.00 22.33 4.75 26.6 1.10 0.80 1.10 Dec $2,001 0.0% JAHarley-Davidson, Inc. (ng) HOG N MP3 M/GRW 40.29 NM 41.82 14.31 23.7 3.36 1.70 3.00 Dec $6,176 0.2% JAMalibu Boats, Inc. (ae) MBUU Q MO2 H/GRW 56.99 65.00 63.88 18.02 NM 125.89 110.95A 155.98 Jun $1,181 0.0% JAMarineMax, Inc. (ng) HZO N MO2 H/GRW 32.84 35.00 35.22 7.25 8.5 1.63 3.42A 3.85 Sep $710 0.0% JAMasterCraft Boat Holdings, Inc. (ae) MCFT Q MO2 H/GRW 21.66 25.50 24.37 4.90 NM 79.32 44.30A 73.25 Jun $410 0.0% JAOneWater Marine Inc. (ae) ONEW Q MO2 H/GRW 27.96 36.00 33.60 3.41 NM 46 83A 88 Sep $410 0.0% JAPlanet Fitness, Inc. (ng) PLNT N MP3 M/GRW 72.95 NM 88.77 23.77 NM 1.59 0.15 1.40 Dec $6,409 0.0% JAPolaris Inc. (ng) PII N SB1 M/GRW 96.00 128.00 110.30 37.35 13.1 6.32 7.32 7.50 Dec $5,923 2.6% JAYETI Holdings, Inc. (ng) YETI N MO2 H/GRW 63.17 65.00 64.37 15.28 36.1 1.06 1.75 2.18 Dec $5,501 0.0% JA

RestaurantsBloomin' Brands, Inc. (ng) BLMN Q SB1 H/GRW 17.50 21.00 24.29 4.54 NM 1.54 -0.66 1.12 Dec $1,532 0.0% BVBrinker International, Inc. (ng) EAT N MP3 H/GRW 50.11 NM 53.59 7.00 17.0 3.93 1.71A 2.95 Jun $2,269 0.0% BVCarrols Restaurant Group, Inc. (ng) TAST Q MO2 H/GRW 6.80 8.00 8.07 0.98 NM -0.40 -0.01 -0.01 Dec $354 0.0% BVCheesecake Factory Inc. (g) CAKE Q MP3 M/GRW 37.48 NM 44.17 14.52 NM 2.61 -0.95 1.05 Dec $1,708 0.0% BV


52 Week EPS

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Chipotle Mexican Grill, Inc. (ng) CMG N MP3 H/GRW 1,289.43 NM 1,384.46 415.00 NM 14.05 11.16 21.12 Dec $36,078 0.0% BVChuy's Holdings, Inc. (ng) CHUY Q MO2 H/GRW 23.70 25.00 29.05 7.28 33.2 1.05 0.71 0.84 Dec $467 0.0% BVDarden Restaurants, Inc. (ng) DRI N MO2 M/GRW 107.98 115.00 125.96 26.15 24.5 5.82 3.17A 4.40 May $14,059 1.1% BVDave & Buster's Entertainment, Inc. (f, ng) PLAY Q SB1 H/GRW 25.32 25.00 48.80 4.61 NM 3.12 -3.80 0.79 Jan $1,205 0.0% BVDine Brands Global, Inc. (ng) DIN N MP3 M/GRW 62.97 NM 104.47 14.16 28.2 6.95 2.23 5.12 Dec $1,034 0.0% BVFiesta Restaurant Group, Inc. (ng) FRGI Q MO2 H/GRW 11.75 13.50 13.46 2.72 NM 0.33 -0.06 0.58 Dec $305 0.0% BVMcDonald's Corporation (ng) MCD N MP3 M/GRW 217.44 NM 231.91 124.23 35.4 7.85 6.14 8.27 Dec $162,017 2.4% BVRed Robin Gourmet Burgers, Inc. (ng) RRGB Q MP3 H/GRW 20.11 NM 37.29 4.04 NM 0.62 -9.63 -1.42 Dec $313 0.0% BVRuth's Hospitality Group, Inc. (ng) RUTH Q SB1 M/GRW 15.57 16.00 24.42 2.31 NM 1.43 -0.23 0.83 Dec $543 0.0% BVShake Shack Inc. (ng) SHAK N MU4 H/GRW 81.66 NM 86.98 30.01 NM 0.72 -0.71 0.19 Dec $3,384 0.0% BVTexas Roadhouse, Inc. (ng) TXRH Q SB1 H/GRW 75.80 82.00 84.27 25.15 97.7 2.46 0.78 2.65 Dec $5,267 0.0% BVWingstop Inc. (ng) WING Q MP3 H/GRW 127.31 NM 170.00 44.27 NM 0.73 1.24 1.45 Dec $3,779 0.4% BV

Softline RetailApparelAmerican Eagle Outfitters, Inc. (ng) AEO N MO2 M/GRW 17.99 20.00 18.95 6.54 NM 1.48 -0.10 1.05 Dec $2,988 0.0% MMHanesbrands Inc. (ng) HBI N SB1 M/GRW 14.20 16.00 17.73 6.96 10.2 1.53 1.40 1.60 Dec $4,946 4.2% MMV.F. Corporation (ng) VFC N MP3 M/GRW 83.40 NM 100.25 45.07 62.0 3.78 2.69A 1.35 Mar $32,526 2.4% MMAthleticDick's Sporting Goods, Inc. (f, ng) DKS N MU4 M/GRW 56.81 NM 63.29 13.46 10.5 3.69 5.40 4.40 Jan $5,090 2.2% MMFoot Locker, Inc. (ng) FL N MO2 M/GRW 37.40 50.00 42.00 17.46 13.6 4.93 2.75 4.80 Jan $3,904 1.6% MMlululemon athletica inc. (ng) LULU Q SB1 M/GRW 370.22 400.00 399.90 128.84 86.1 4.93 4.30 6.55 Jan $46,252 0.0% MMNIKE, Inc. (ng) NKE N MO2 M/GRW 134.70 140.00 136.35 60.00 47.3 2.49 1.84A 2.85 May $211,453 0.8% MMUnder Armour, Inc. (ng) UAA N SB1 M/GRW 16.57 20.00 21.96 7.15 NM 0.34 -0.30 0.40 Dec $7,534 0.0% MM


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Michael Glen, CFA [email protected] Auto PartsMagna International Inc. MGA N MP3 M/INC 61.42 61.50 63.58 22.75 20.9 6.05 2.94 6.03 Dec $18,381 2.6% MGMartinrea International Inc. MRE T SB1 H/INC C$14.22 18.00 14.75 5.64 25.1 2.27 0.57 2.13 Dec C$1,142 1.4% MG

Consumer & RetailCCL Industries Inc. CCL.B T MO2 M/GRW C$57.26 65.00 60.55 34.57 19.3 2.77 2.96 3.13 Dec C$10,233 1.3% MGGoodfood Market Corp. (ae) FOOD T MO2 H/GRW C$8.55 12.50 10.49 1.49 0.9 -16 5A 10 Dec C$574 0.0% MGK-Bro Linen Inc. (cb) KBL T SB1 M/INC C$38.45 40.00 46.44 23.73 0.9 48 41 38 Dec C$413 3.1% MGMTY Food Group Inc. (cb) MTY T MP3 H/GRW C$51.65 44.00 62.82 14.23 NM 147 134 140 Dec C$1,276 0.0% MG


Energy

USAExploration and Production .............................................................................................. 23Independent Refiners ...................................................................................................... 23Integrated Oil and Gas ..................................................................................................... 24Midstream Suppliers ........................................................................................................ 24Renewable Energy and Clean Technology ............................................................................ 24

Fuels and Chemicals .................................................................................................... 24Power ....................................................................................................................... 24Water ........................................................................................................................ 25

CANIntermediate Oil & Gas Producers ...................................................................................... 26Junior Oil & Gas Producers ............................................................................................... 26Oil & Gas Energy Services ................................................................................................. 26

Ancillary Wellsite Services ............................................................................................. 26Blended Production/Midstream/Wellsite .......................................................................... 26Contract Drillers .......................................................................................................... 27Pressure Pumpers ....................................................................................................... 27

Oil Sands ...................................................................................................................... 27Power & Energy Infrastructure ........................................................................................... 27

Diversified & Utilities .................................................................................................... 27Independent Power Producers ....................................................................................... 27Pipelines & Midstream .................................................................................................. 27

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


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Chris Cox, CFA * [email protected] Freeman, CFA [email protected]

Justin Jenkins [email protected] Molchanov [email protected]. Weston, CFA [email protected]

*Chris Cox is a Raymond James Ltd. employee Exploration and ProductionAntero Resources Corporation (ng) AR N MP3 H/SPEC 3.92 NM 4.64 0.64 NM -0.37 -0.62 -0.31 Dec $1,053 0.0% JFApache Corporation (ng) APA Q MO2 H/GRW 12.89 14.00 33.77 3.80 NM 0.01 -1.33 -0.52 Dec $4,866 0.8% JFBlack Stone Minerals, L.P. (cu) BSM N SB1 H/INC 7.02 9.00 13.54 4.04 13.2 1.41 0.53 0.64 Dec $1,451 8.5% JFBrigham Minerals, Inc. (ds) MNRL N SB1 H/INC 10.42 15.00 21.65 5.86 10.6 1.04 0.99 0.93 Dec $589 9.2% JFCabot Oil & Gas Corporation (ng) COG N MO2 H/GRW 17.52 25.00 22.67 13.06 30.1 1.68 0.58 1.76 Dec $6,983 2.3% JFCimarex Energy Co. (ng) XEC N MO2 H/GRW 35.95 35.00 55.29 12.15 22.0 4.17 1.63 5.57 Dec $3,665 2.4% JFCNX Resources Corporation (ng) CNX N MO2 H/GRW 9.41 13.00 14.19 4.26 10.1 0.92 0.93 1.15 Dec $2,113 0.0% JFConcho Resources Inc. (ng) CXO N MO2 H/GRW 57.48 64.00 93.34 33.13 12.2 3.04 4.73 3.78 Dec $11,283 1.4% JFConocoPhillips (ng) COP N MO2 M/GRW 39.56 44.00 67.13 20.84 NM 3.59 -0.74 0.82 Dec $42,248 4.3% PMContinental Resources Inc. (ng) CLR N MP3 H/GRW 15.38 NM 36.20 6.90 NM 2.25 -1.24 -0.62 Dec $5,617 0.0% JFDevon Energy Corporation (ng) DVN N MO2 H/GRW 13.99 15.00 26.98 4.70 NM 1.39 -0.13 0.71 Dec $5,352 3.1% JFDiamondback Energy, Inc. (ng) FANG Q MO2 H/GRW 39.96 50.00 96.92 14.55 12.6 6.48 3.16 4.71 Dec $6,312 3.8% JFEOG Resources, Inc. (ng) EOG N MO2 H/GRW 46.88 55.00 89.54 27.00 47.7 5.01 0.98 1.28 Dec $27,349 3.2% JFHess Corporation (ng) HES N MO2 M/INC 47.18 55.00 71.66 26.06 NM -0.92 -3.11 -2.53 Dec $14,488 2.1% PMKimbell Royalty Partners L.P. (cu) KRP N SB1 H/INC 7.22 9.00 17.72 3.51 10.4 1.56 0.70 0.86 Dec $281 17.9% JFLaredo Petroleum, Inc. (ng) LPI N MO2 H/SPEC 11.81 15.00 61.00 6.60 0.7 14.86 17.53 12.26 Dec $142 0.0% JFMarathon Oil Corporation (ng) MRO N SB1 M/GRW 5.92 7.00 14.07 3.02 NM 0.76 -1.18 -0.74 Dec $4,679 2.0% PMMatador Resources Company (ng) MTDR N MO2 H/GRW 10.18 10.00 19.82 1.11 28.1 1.20 0.36 0.80 Dec $1,200 0.0% JFNational Fuel Gas Company (ng) NFG N MO2 H/GRW 41.17 53.00 47.70 31.58 10.7 3.45 2.86A 3.86 Sep $3,745 4.3% JFOccidental Petroleum Corporation (ng) OXY N SB1 M/GRW 15.76 21.00 47.58 8.52 NM 1.46 -3.59 -1.71 Dec $14,676 0.3% PMParsley Energy, Inc. (ng) PE N SB1 H/GRW 12.53 17.00 20.12 3.92 12.5 1.12 1.00 2.03 Dec $5,173 1.6% JFPioneer Natural Resources Company (ng) PXD N SB1 H/GRW 100.58 135.00 159.01 48.62 47.1 8.23 2.14 4.93 Dec $16,536 2.2% JFQEP Resources, Inc. (ng) QEP N MP3 H/SPEC 1.61 NM 4.80 0.26 9.3 0.00 0.17 -0.38 Dec $390 0.0% JFRange Resources Corporation (ng) RRC N MP3 H/GRW 7.30 NM 9.41 1.61 83.0 0.40 0.09 1.33 Dec $1,871 0.0% JFSM Energy Company (ng) SM N MP3 H/SPEC 4.23 NM 12.40 0.90 NM -0.48 -0.19 -1.45 Dec $485 0.5% JFSouthwestern Energy Company (ng) SWN N MP3 H/SPEC 3.11 NM 3.90 1.06 8.0 0.68 0.39 0.80 Dec $2,092 0.0% JFViper Energy Partners LP (cu) VNOM Q MO2 H/INC 11.20 13.00 26.83 4.98 31.1 1.77 0.36 0.84 Dec $760 3.6% JFWPX Energy, Inc. (ng) WPX N MO2 H/GRW 7.12 7.00 14.43 1.94 15.3 0.33 0.46 -0.38 Dec $3,995 0.0% JF

Independent RefinersCalumet Specialty Products Partners, LP (u) CLMT Q MP3 H/GRW 3.63 NM 4.70 0.82 NM -0.55 -1.29 -0.78 Dec $283 0.0% JJDelek US Holdings, Inc. (ng) DK N MO2 H/GRW 13.29 20.00 35.50 7.79 NM 2.57 -3.70 -2.00 Dec $980 0.0% JJHollyFrontier Corporation (ng) HFC N MP3 H/GRW 23.39 NM 52.81 16.81 NM 4.90 -0.73 -0.50 Dec $3,790 6.0% JJMarathon Petroleum Corporation (ng) MPC N MP3 H/GRW 38.88 NM 62.14 15.26 NM 4.83 -3.74 -1.75 Dec $25,297 6.0% JJPBF Energy Inc. (ng) PBF N MP3 H/GRW 7.26 NM 33.99 4.06 NM 0.91 -10.08 -5.50 Dec $881 0.0% JJPhillips 66 (ng) PSX N MO2 H/GRW 60.58 75.00 116.06 40.04 NM 8.05 -0.30 3.00 Dec $26,461 5.9% JJValero Energy Corporation (ng) VLO N MO2 H/GRW 53.77 69.00 98.03 31.00 NM 5.43 -3.80 -0.20 Dec $21,927 7.3% JJ


52 Week EPS

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Energy - USA

Integrated Oil and GasBP p.l.c. (ed, r) BP N MO2 M/INC 19.56 28.00 40.08 14.74 NM 2.94 0.08 1.22 Dec $66,092 6.4% PMChevron Corporation (ng) CVX N MO2 M/INC 87.18 100.00 122.72 51.60 NM 6.12 -0.48 1.08 Dec $167,825 5.9% PMExxon Mobil Corporation (ng) XOM N MU4 M/INC 38.13 NM 71.37 30.11 NM 2.25 -0.40 1.05 Dec $161,222 9.1% PM

Midstream SuppliersAntero Midstream Corporation (g) AM N MO2 H/INC 6.74 8.00 7.87 1.69 NM -0.64 -0.22 0.91 Dec $3,213 18.2% JRW, JJCheniere Energy, Inc. (g) LNG N MO2 M/GRW 56.69 65.00 67.11 27.06 54.3 2.51 1.04 3.26 Dec $14,301 0.0% JJ, JRWCheniere Energy Partners, L.P. (gu) CQP N MU4 H/INC 38.10 NM 42.88 17.75 16.6 2.25 2.30 3.22 Dec $23,600 6.8% JJ, JRWCrestwood Equity Partners LP (gu) CEQP N MO2 H/INC 16.31 17.00 32.97 2.65 NM 2.91 -1.29 -0.31 Dec $1,199 15.3% JRW, JJCrossAmerica Partners L.P. (u) CAPL N MO2 H/INC 17.14 16.00 19.79 6.81 5.9 0.52 2.88 0.86 Dec $649 12.3% JJ, JRWDCP Midstream, LP (gu) DCP N MP3 H/INC 16.15 NM 26.26 2.20 NM -1.05 -1.75 1.18 Dec $3,365 9.7% JRW, JJDelek Logistics Partners, LP (gu) DKL N MP3 H/INC 30.28 NM 34.91 5.51 7.1 2.61 4.25 4.36 Dec $1,330 12.0% JJ, JRWEnergy Transfer LP (gu) ET N SB1 H/INC 6.18 9.00 13.86 3.75 NM 1.34 -0.20 1.08 Dec $16,672 9.9% JJ, JRWEnLink Midstream, LLC (gu) ENLC N MP3 H/INC 3.70 NM 6.48 0.88 NM -2.41 -0.53 -0.06 Dec $1,812 10.3% JRW, JJEnterprise Products Partners L.P. (gu) EPD N SB1 M/INC 19.40 25.00 29.22 10.27 9.4 2.08 2.06 1.93 Dec $42,348 9.2% JJ, JRWGenesis Energy, L.P. (gu) GEL N MP3 H/INC 6.43 NM 22.20 2.58 NM 0.18 -3.32 -0.04 Dec $788 9.3% JJ, JRWGlobal Partners LP (u) GLP N MP3 H/INC 16.70 NM 20.69 6.30 6.2 0.81 2.69 1.10 Dec $568 12.0% JJ, JRWHolly Energy Partners, L.P. (gu) HEP N MO2 H/INC 13.54 18.00 24.59 6.57 8.4 2.13 1.61 2.01 Dec $1,428 10.3% JJ, JRWKinder Morgan, Inc. (g) KMI N MO2 M/INC 14.38 15.00 22.58 9.42 NM 0.96 0.02 0.91 Dec $32,553 7.3% JJ, JRWMagellan Midstream Partners, L.P. (gu) MMP N MO2 M/INC 41.15 45.00 65.34 22.02 11.4 4.46 3.62 4.05 Dec $9,205 10.0% JJ, JRWMPLX L.P. (gu) MPLX N MP3 H/INC 21.04 NM 27.36 6.87 NM 1.00 -0.78 2.52 Dec $21,885 13.1% JJ, JRWNGL Energy Partners LP (gu) NGL N MP3 H/INC 2.18 NM 12.08 1.15 NM 1.98 -4.40A -0.48 Mar $281 18.3% JJ, JRWNuStar Energy L.P. (gu) NS N MP3 H/INC 13.29 NM 29.36 4.98 NM -1.97 -0.25 1.69 Dec $1,451 12.0% JJ, JRWONEOK, Inc. (g) OKE N MO2 H/INC 35.87 35.00 78.48 12.16 24.0 3.07 1.49 2.96 Dec $15,941 10.4% JRW, JJPBF Logistics L.P. (gu) PBFX N MP3 H/INC 9.33 NM 21.78 3.06 3.9 1.69 2.41 2.21 Dec $582 12.9% JJ, JRWPhillips 66 Partners L.P. (gu) PSXP N MO2 M/INC 26.88 35.00 65.22 19.00 7.3 4.28 3.68 3.51 Dec $6,138 13.0% JJ, JRWPlains All American Pipeline, L.P. (u) PAA N MO2 H/INC 7.94 9.00 19.39 3.00 4.6 2.46 1.73 1.27 Dec $5,784 9.1% JJ, JRWPlains GP Holdings, L.P. (u) PAGP N MO2 H/INC 7.93 9.00 19.79 3.04 NM 2.00 -2.79 0.76 Dec $1,945 9.1% JJ, JRWRattler Midstream LP (gu) RTLR Q MP3 H/INC 8.29 NM 18.41 2.90 9.0 0.96 0.92 0.89 Dec $1,259 9.7% JJ, JRWSprague Resources LP (gu) SRLP N MP3 H/INC 17.25 NM 18.78 9.83 12.9 1.10 1.34 1.46 Dec $396 15.5% JJ, JRWSuburban Propane Partners, L.P. (u) SPH N MO2 H/INC 15.32 18.00 22.87 8.64 12.3 1.10 0.97A 1.24 Sep $952 7.8% JJ, JRWSunoco LP (u) SUN N MO2 H/INC 27.79 30.00 32.89 10.46 11.5 3.75 2.43 4.13 Dec $2,309 11.9% JJ, JRWTarga Resources Corp. (g) TRGP N SB1 H/INC 23.50 26.00 42.12 3.66 NM -1.68 -6.98 0.18 Dec $5,382 1.7% JRW, JJTC PipeLines, LP (gu) TCP N MP3 M/INC 30.90 NM 44.65 18.00 7.8 3.74 3.95 3.77 Dec $2,203 8.4% JJ, CC, JRWTellurian Inc. (g) TELL Q MP3 H/SPEC 1.49 NM 8.69 0.67 NM -0.69 -0.85 1.31 Dec $492 0.0% JJ, JRWThe Williams Companies, Inc. (g) WMB N SB1 M/INC 20.98 24.00 24.17 8.41 54.4 0.70 0.39 0.97 Dec $25,461 7.6% JJ, JRW

Renewable Energy and Clean TechnologyFuels and ChemicalsChart Industries, Inc. (ng) GTLS Q MO2 H/GRW 103.36 90.00 109.97 15.00 38.7 2.58 2.67 3.38 Dec $3,727 0.0% PMClean Energy Fuels Corp. (ng) CLNE Q MP3 H/GRW 4.55 NM 5.25 1.05 NM 0.15 -0.04 -0.08 Dec $902 0.0% PMGreen Plains Partners LP (qu) GPP Q SB1 H/INC 8.45 12.00 14.81 3.47 4.8 1.77 1.75 1.85 Dec $196 5.7% PMPowerAdvanced Energy Industries, Inc. (ng) AEIS Q MO2 M/GRW 96.46 90.00 98.64 33.38 18.8 2.44 5.12 5.37 Dec $3,692 0.0% PM


52 Week EPS

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Ameresco, Inc. (ng) AMRC N MP3 M/GRW 44.55 NM 47.00 13.38 43.7 0.83 1.02 1.19 Dec $2,133 0.0% PMBloom Energy Corporation (ng) BE N MP3 H/GRW 24.52 NM 28.24 3.00 NM -0.23 -0.63 -0.05 Dec $4,112 0.0% PMEnphase Energy, Inc. (ng) ENPH Q MP3 H/GRW 136.57 NM 148.94 21.08 NM 0.97 1.21 1.45 Dec $17,253 0.0% PMEnviva Partners, LP (qu) EVA N SB1 M/INC 44.64 48.00 45.96 20.63 57.2 0.79 0.78 1.13 Dec $1,775 6.9% PMFirst Solar, Inc. (ng) FSLR Q MU4 M/GRW 93.43 NM 98.46 28.47 31.1 1.49 3.01 3.75 Dec $9,902 0.0% PMItron, Inc. (ng) ITRI Q SB1 M/GRW 78.61 78.00 88.32 40.48 46.3 3.33 1.70 2.59 Dec $3,176 0.0% PMLivent Corporation (ng) LTHM N SB1 H/GRW 15.17 14.00 16.64 3.95 NM 0.42 -0.02 0.21 Dec $2,219 0.0% PMMaxeon Solar Technologies, Ltd. (ng) MAXN Q MO2 H/GRW 24.42 25.00 37.62 11.78 NM -7.22 -6.24 -2.06 Dec $818 0.0% PMNextEra Energy Partners, L.P. (qu) NEP N MO2 M/INC 63.47 73.00 69.14 29.01 NM -1.58 -1.78 1.19 Dec $4,633 3.7% PMSunnova Energy International Inc. (ng) NOVA N MO2 H/GRW 40.51 32.00 46.00 6.12 NM -3.91 -2.34 -2.27 Dec $3,791 0.0% PMSunPower Corporation (ng) SPWR Q MP3 H/GRW 22.16 NM 24.40 2.64 NM -0.29 -0.22 0.49 Dec $3,771 0.0% PMTPI Composites, Inc. (ng) TPIC Q SB1 H/GRW 40.23 44.00 45.50 9.19 NM -0.02 0.19 0.92 Dec $1,438 0.0% PMWaterEnergy Recovery, Inc. (ng) ERII Q MO2 H/GRW 10.67 11.00 11.23 6.11 22.2 0.18 0.48 0.12 Dec $599 0.0% PMEvoqua Water Technologies Corp. (ng) AQUA N SB1 M/GRW 26.09 33.00 28.38 7.08 40.2 0.40 0.67A 0.65 Sep $3,086 0.0% PMPrimo Water Corporation (ng) PRMW N MO2 M/GRW 15.03 18.00 16.00 6.33 NM 0.05 0.05 0.35 Dec $2,408 2.1% PMXylem Inc. (ng) XYL N MO2 M/GRW 95.97 93.00 99.06 54.62 48.1 3.02 1.99 2.90 Dec $17,297 1.1% PM


52 Week EPS

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

Justin Jenkins * [email protected] McCrea, CFA [email protected] Quezada, CFA [email protected]. Weston, CFA * [email protected]

*Justin Jenkins and J.R. Weston are Raymond James & Associates employees Intermediate Oil & Gas ProducersAdvantage Oil & Gas Ltd. (cf) AAV T MO2 H/GRW C$2.06 2.75 2.94 0.98 3.4 0.83 0.61 0.97 Dec C$386 0.0% CCARC Resources Ltd. (cf) ARX T MO2 H/INC C$6.44 8.50 8.39 2.42 3.9 1.91 1.65 1.72 Dec C$2,281 3.7% JMAthabasca Oil Corp. (cf) ATH T MU4 H/GRW C$0.15 0.05 0.64 0.10 NM 0.29 -0.08 -0.01 Dec C$80 0.0% CCBaytex Energy Corp. (cf) BTE T MU4 H/GRW C$0.66 0.50 2.10 0.27 1.3 1.62 0.53 0.42 Dec C$370 0.0% JMBirchcliff Energy Ltd. (cf) BIR T MO2 H/GRW C$2.05 2.75 2.65 0.58 3.0 1.19 0.68 1.15 Dec C$545 1.0% JMCardinal Energy Ltd. (cf) CJ T MU4 H/GRW C$0.60 0.25 2.91 0.30 1.5 1.05 0.39 0.61 Dec C$69 0.0% JMCrescent Point Energy Corp. (cf) CPG T MP3 H/GRW C$2.33 2.25 6.30 0.75 1.5 3.34 1.58 1.10 Dec C$1,234 0.4% CCEnerplus Corporation (cf) ERF T MP3 H/GRW C$3.30 4.00 9.55 1.62 2.1 3.04 1.59 1.71 Dec C$734 3.6% CCFreehold Royalties Ltd. (cf) FRU T R H/GRW C$5.07 R 8.18 2.30 R 1.01 R R Dec C$602 3.6% JMKelt Exploration Ltd. (cf) KEL T MO2 H/GRW C$1.89 3.00 4.99 0.67 6.7 0.94 0.28 0.32 Dec C$356 0.0% JMNuVista Energy Ltd. (cf) NVA T MO2 H/GRW C$0.98 1.25 3.36 0.24 1.5 1.18 0.65 0.60 Dec C$221 0.0% JMParamount Resources Ltd. (cf) POU T MP3 H/GRW C$3.81 4.00 7.90 0.81 3.3 2.28 1.16 2.40 Dec C$511 0.8% CCPeyto Exploration & Development Corp (cf) PEY T MP3 H/GRW C$2.85 3.00 3.93 0.91 2.1 1.95 1.39 2.51 Dec C$470 1.4% JMPrairieSky Royalty Ltd. (cf) PSK T MO2 H/GRW C$10.31 13.25 16.34 6.24 16.5 0.94 0.62 0.70 Dec C$2,302 2.3% JMSeven Generations Energy Ltd. (cf) VII T MO2 H/GRW C$5.40 6.50 9.05 1.15 2.2 3.98 2.46 2.39 Dec C$1,800 0.0% CCSurge Energy Inc. (cf) SGY T MU4 H/GRW C$0.30 0.25 1.18 0.14 1.8 0.54 0.16 0.14 Dec C$102 0.0% JMTamarack Valley Energy Ltd. (cf) TVE T MO2 H/GRW C$0.95 1.35 2.27 0.39 1.8 0.97 0.53 0.49 Dec C$211 0.0% JMTORC Oil & Gas Ltd. (cf) TOG T MO2 H/GRW C$2.13 2.00 4.78 0.41 4.0 1.37 0.53 0.60 Dec C$474 0.0% JMTourmaline Oil Corp. (cf) TOU T MO2 H/GRW C$18.08 25.00 19.94 6.73 4.1 4.43 4.37 6.39 Dec C$4,923 3.1% CCVermilion Energy Inc. (cf) VET T MP3 H/GRW C$5.21 6.00 21.98 2.20 1.8 5.88 2.96 3.21 Dec C$825 0.0% JMWhitecap Resources Inc. (cf) WCP T MO2 H/GRW C$3.92 4.25 5.71 0.73 3.8 1.64 1.03 0.98 Dec C$1,600 4.3% JM

Junior Oil & Gas ProducersBonterra Energy Corp. (cf) BNE T MP3 H/GRW C$1.59 1.75 4.65 0.64 1.4 2.88 1.10 1.94 Dec C$53 0.0% JMCrew Energy Inc. (cf) CR T MU4 H/GRW C$0.46 0.35 0.62 0.14 1.6 0.54 0.28 0.32 Dec C$72 0.0% JMLeucrotta Exploration Inc. (cf) LXE V MP3 H/GRW C$0.72 0.90 0.84 0.14 42.2 0.05 0.02 0.03 Dec C$144 0.0% CCObsidian Energy Ltd. (cf) OBE T MU4 H/SPEC C$0.56 0.05 1.26 0.20 0.5 1.39 1.11 1.27 Dec C$41 0.0% JMPetrus Resources Ltd. (cf) PRQ T MU4 H/GRW C$0.24 0.05 0.30 0.05 0.4 0.70 0.55 0.53 Dec C$12 0.0% JMPipestone Energy PIPE V MP3 H/GRW C$0.67 1.00 1.75 0.30 2.8 0.01 0.24 0.58 Dec C$128 0.0% CCSpartan Delta Corp. SDE V MO2 H/GRW C$3.15 5.25 8.00 1.50 5.8 NM 0.54 1.10 Dec C$183 0.0% JMStorm Resources Ltd. (cf) SRX T MP3 H/GRW C$2.28 2.25 2.44 0.85 5.0 0.49 0.46 0.82 Dec C$277 0.0% JMYangarra Resources Ltd. (cf) YGR T MP3 H/GRW C$0.61 0.80 1.53 0.26 1.2 1.08 0.53 0.71 Dec C$52 0.0% JM

Oil & Gas Energy ServicesAncillary Wellsite ServicesEssential Energy Services Ltd. (cb) ESN T MP3 H/GRW C$0.20 0.25 0.49 0.12 NM 16 10 9 Dec C$28 0.0% ABBlended Production/Midstream/WellsiteCES Energy Solutions Corp. (cb) CEU T SB1 H/INC C$1.13 1.50 2.47 0.53 NM 162 96 113 Dec C$297 0.0% AB


52 Week EPS

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Enerflex Ltd. (cb) EFX T MO2 H/GRW C$6.88 8.50 12.49 4.18 NM 341 169 143 Dec C$617 1.2% ABMullen Group Ltd. (cb) MTL T MO2 H/GRW C$10.06 11.25 10.33 3.85 NM 201 217 206 Dec C$975 3.6% ABQuestor Technology Inc. QST V MP3 H/GRW C$2.32 1.60 5.68 1.18 1.9 14 1 2 Dec C$64 0.0% MSSecure Energy Services Inc. (cb) SES T SB1 H/INC C$2.17 3.00 5.20 0.64 NM 180 131 138 Dec C$344 1.4% ABContract DrillersEnsign Energy Services Inc. (cb) ESI T MP3 H/GRW C$0.87 0.45 3.08 0.22 NM 407 227 178 Dec C$142 0.0% ABPrecision Drilling Corporation (cb) PD T MP3 H/GRW C$25.11 1.00 43.00 7.70 NM 392 253 187 Dec C$348 0.0% ABWestern Energy Services Corp. (cb) WRG T MU4 H/GRW C$0.33 0.10 0.38 0.18 NM 24 17 11 Dec C$30 0.0% ABPressure PumpersCalfrac Well Services (cb) CFW T MU4 H/GRW C$0.29 0.08 1.30 0.10 NM 161 15 61 Dec C$42 0.0% ABSTEP Energy Services Ltd. (cb) STEP T MP3 H/GRW C$0.63 0.45 1.70 0.27 NM 79 32 35 Dec C$43 0.0% ABTrican Well Service Ltd. (cb) TCW T MP3 H/GRW C$1.32 1.20 1.50 0.42 NM 31 12 28 Dec C$348 0.0% AB

Oil SandsMEG Energy Corp. (cf) MEG T MP3 H/GRW C$3.65 4.50 8.07 1.13 4.2 2.41 0.88 0.93 Dec C$1,105 0.0% CC

Power & Energy InfrastructureDiversified & UtilitiesAlgonquin Power & Utilities AQN N SB1 M/INC 15.68 18.50 16.85 9.53 23.9 0.63 0.66 0.71 Dec $9,361 7.0% DQBrookfield Infrastructure Partners L.P. (x) BIP N MO2 M/INC 49.81 60.00 56.31 25.77 15.9 3.06 3.13 3.55 Dec $14,712 3.9% FBEmera Incorporated EMA T MO2 M/INC C$53.85 63.00 60.94 42.12 21.2 2.58 2.54 3.06 Dec C$13,427 4.7% DQFortis, Inc. FTS T MO2 M/INC C$52.29 58.00 59.28 41.52 20.4 2.55 2.56 2.86 Dec C$24,294 3.9% DQHydro One Ltd. H T MO2 M/INC C$30.30 32.00 30.39 20.25 20.2 1.53 1.50 1.52 Dec C$18,106 3.3% DQ, FBSpark Power Group SPG T MO2 H/GRW C$1.53 2.25 2.25 1.00 20.5 0.03 0.07 0.14 Dec C$82 0.0% DQXebec Adsorption Inc. XBC V SB1 H/GRW C$5.99 7.00 5.99 1.74 NM 0.03 -0.05 0.11 Dec C$636 0.0% DQIndependent Power ProducersAtlantica Sustainable Infrastructure plc AY Q MO2 M/INC 34.39 36.00 37.98 17.73 40.9 0.63 0.84 0.75 Dec $3,494 4.9% DQBoralex, Inc. BLX T SB1 M/INC C$41.04 46.50 43.32 17.91 63.5 -0.43 0.65 0.77 Dec C$4,209 1.6% DQBrookfield Renewable Partners L.P. (x) BEP N MP3 M/INC 63.58 56.00 64.94 23.99 31.9 1.96 2.00 2.13 Dec $19,628 3.6% FBCapital Power Corporation CPX T MO2 M/INC C$33.24 36.50 38.88 20.23 21.7 1.34 1.53 1.98 Dec C$3,498 6.2% DQGreenlane Renewables Inc. GRN V SB1 H/GRW C$1.18 1.25 1.27 0.19 NM -0.16 -0.03 0.01 Dec C$117 0.0% DQInnergex Renewable Energy Inc. INE T MO2 M/GRW C$25.70 28.00 27.04 13.97 NM -0.24 -0.27 0.42 Dec C$4,486 2.8% DQNorthland Power Inc. NPI T MP3 M/GRW C$44.51 45.00 47.62 20.52 23.5 1.70 1.90 1.94 Dec C$8,980 2.7% DQPolaris Infrastructure Inc. PIF T SB1 H/SPEC C$16.88 25.00 17.45 8.59 27.5 0.79 0.61 1.07 Dec C$265 4.6% DQTransAlta Renewables Inc. RNW T MP3 M/GRW C$17.94 18.00 18.25 10.82 45.8 0.68 0.39 0.81 Dec C$4,783 5.2% DQPipelines & MidstreamAltaGas Ltd. (af) ALA T MO2 H/GRW C$18.64 22.50 22.74 8.71 6.6 3.00 2.80 3.06 Dec C$5,248 5.2% CC, DQEnbridge Inc. (ae) ENB T MO2 M/INC C$40.56 49.00 57.32 33.06 NM 13,271 13,449 14,307 Dec C$82,143 8.0% CC, JJ, JRWGibson Energy Inc. (af) GEI T MP3 M/INC C$20.86 24.00 28.34 10.96 9.7 2.10 2.15 2.19 Dec C$3,052 6.5% CCInter Pipeline Ltd. (af) IPL T MP3 H/INC C$12.94 14.00 22.88 5.35 8.3 1.85 1.57 1.48 Dec C$5,558 3.7% CCKeyera Corp. (af) KEY T MO2 M/INC C$22.41 25.00 36.56 10.04 7.0 2.77 3.21 2.90 Dec C$4,953 8.6% CCPembina Pipeline Corporation (af) PPL T MP3 M/INC C$33.12 34.00 53.79 15.27 8.0 4.37 4.17 4.41 Dec C$18,214 7.6% CCTC Energy Corporation (ae) TRP T MO2 M/INC C$57.13 68.00 76.58 47.05 NM 9,366 9,358 9,643 Dec C$53,698 5.7% CC, JJ, JRWTopaz Energy Corp. TPZ T MO2 H/GRW C$14.11 16.00 14.75 12.82 14.6 NA 0.97 1.05 Dec C$1,587 5.7% CC


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Energy - CAN

Senior Oil & Gas ProducersCanadian Natural Resources Limited (cb) CNQ T MO2 H/GRW C$29.63 32.00 42.57 9.80 7.1 8.60 4.20 5.87 Dec C$34,995 5.7% CCCenovus Energy Inc. (cb) CVE T MP3 H/GRW C$6.44 7.50 13.66 2.06 NM 3.03 -0.09 1.23 Dec C$7,914 0.0% CCHusky Energy Inc. (cb) HSE T MP3 H/GRW C$5.27 6.00 10.80 2.21 14.9 3.24 0.35 1.30 Dec C$5,297 0.9% CCImperial Oil Limited (cb) IMO T MP3 H/GRW C$22.48 22.00 35.80 10.27 23.2 4.62 0.97 2.42 Dec C$16,502 3.9% CCOvintiv Inc. (cb) OVV N MP3 H/GRW 12.76 11.00 25.00 2.10 1.8 11.22 6.98 7.18 Dec $3,316 3.0% CCSuncor Energy Inc. (cb) SU T MO2 M/GRW C$20.77 22.00 45.12 14.02 8.8 6.93 2.37 3.33 Dec C$31,677 4.0% CC


Financial Services

USABanking ........................................................................................................................ 30Capital Markets .............................................................................................................. 33

Brokerages & Exchanges ............................................................................................... 33Markets Technology & Services ...................................................................................... 33

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

Specialty Finance ............................................................................................................ 34Business Development Companies .................................................................................. 34Investment Companies ................................................................................................. 35Specialty Consumer Finance .......................................................................................... 35

CANDiversified Financials ....................................................................................................... 36


52 Week EPS

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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 [email protected]

C. Gregory Peters [email protected] 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 16.34 NM 22.91 9.01 10.9 1.66 1.50 1.25 Dec $167 2.2% AS, WWAlerus Financial Corporation (ng) ALRS Q MP3 M/GRW 24.03 NM 25.34 15.05 10.7 1.84 2.25 0.90 Dec $411 2.5% WW, ASAllegiance Bancshares, Inc. (q) ABTX Q MP3 M/GRW 31.66 NM 38.95 20.88 14.5 2.57 2.18 2.45 Dec $647 1.3% DFAltabancorp (q) ALTA Q MO2 H/GRW 27.40 24.00 31.27 13.55 12.2 2.36 2.24 1.85 Dec $515 2.2% DFAmalgamated Bank (ng) AMAL Q MO2 H/GRW 12.72 13.00 20.00 7.90 9.1 1.49 1.40 1.15 Dec $395 2.5% WW, ASAmerant Bancorp Inc. (q) AMTB Q MP3 M/GRW 14.85 NM 23.59 9.01 NM 1.24 -0.06 0.35 Dec $626 0.0% MRAmerican National Bankshares Inc. (ng) AMNB Q MO2 M/INC 25.98 28.00 40.57 18.53 10.0 2.83 2.60 2.05 Dec $285 4.2% WW, ASAmeris Bancorp (q) ABCB Q SB1 M/GRW 34.01 33.00 44.90 17.12 8.6 3.80 3.95 3.20 Dec $2,363 1.8% DFAssociated Banc-Corp (ng) ASB N MP3 M/GRW 15.32 NM 22.60 10.23 14.3 1.95 1.07 0.98 Dec $2,353 4.7% DJL, DTAtlantic Capital Bancshares, Inc. (ng) ACBI Q MP3 H/GRW 14.04 NM 20.21 8.89 14.0 1.20 1.00 1.32 Dec $292 0.0% MRAtlantic Union Bankshares Corporation (ng) AUB Q MP3 H/INC 29.91 NM 38.77 18.55 15.0 2.76 2.00 1.75 Dec $2,355 3.3% WW, ASAxos Financial, Inc. (q) AX N SB1 H/GRW 33.50 32.00 35.90 13.69 10.3 2.57 3.11A 3.25 Jun $1,978 0.0% DFBanc of California, Inc. (q) BANC N MP3 H/GRW 13.30 NM 19.12 6.44 39.1 0.08 0.34 0.60 Dec $668 1.8% DFBancorpSouth Bank (q) BXS N MP3 M/GRW 25.35 NM 32.97 17.21 12.1 2.40 2.10 2.05 Dec $2,650 3.0% MRBank of Commerce Holdings (q) BOCH Q MO2 H/GRW 9.41 10.50 12.31 5.68 10.7 0.95 0.88 0.82 Dec $158 2.1% DFBank of Marin Bancorp (q) BMRC Q MP3 M/GRW 34.70 NM 47.77 23.80 16.1 2.44 2.16 2.15 Dec $473 2.7% DFBank OZK (q) OZK Q MO2 M/GRW 27.96 31.00 31.76 14.20 13.3 3.30 2.11 2.75 Dec $3,584 3.9% MRBanner Corporation (q) BANR Q MO2 M/GRW 41.33 42.00 59.64 27.12 12.2 4.37 3.38 3.40 Dec $1,453 4.0% DFBOK Financial Corporation (q) BOKF Q MP3 M/GRW 66.95 NM 88.28 34.57 10.9 7.15 6.15 6.80 Dec $4,707 3.1% MRBrookline Bancorp, Inc. (ng) BRKL Q MO2 M/GRW 11.37 11.00 16.96 8.13 23.5 1.10 0.48 0.90 Dec $899 4.0% WW, ASBusiness First Bancshares, Inc. (ng) BFST Q MP3 H/GRW 18.67 NM 26.64 9.17 9.8 1.78 1.90 1.40 Dec $386 2.1% WW, ASCadence Bancorporation (q) CADE N SB1 M/GRW 13.94 18.00 18.24 4.63 31.0 1.73 0.45 1.34 Dec $1,756 2.2% MRCambridge Bancorp (ng) CATC Q MO2 M/GRW 67.60 70.00 81.02 44.20 9.9 6.16 6.80 6.65 Dec $468 3.1% WW, ASCamden National Corporation (ng) CAC Q MP3 M/GRW 34.35 NM 48.48 25.73 9.3 3.65 3.70 3.00 Dec $513 3.8% WW, ASCapStar Financial Holdings, Inc. (ng) CSTR Q MO2 M/GRW 12.05 13.00 17.48 7.44 10.0 1.34 1.20 1.50 Dec $264 1.7% AS, WWCarter Bank & Trust (ng) CARE Q MO2 H/GRW 9.37 10.00 24.25 6.30 20.6 0.86 0.45 0.50 Dec $247 0.0% WW, ASCentral Pacific Financial Corp. (q) CPF N MP3 H/GRW 16.39 NM 30.56 12.40 12.6 1.96 1.30 1.00 Dec $462 5.6% DFCentral Valley Community Bancorp (q) CVCY Q MP3 H/GRW 14.25 NM 22.15 10.59 9.5 1.59 1.50 1.05 Dec $178 3.1% DFColumbia Banking System, Inc. (q) COLB Q MP3 M/GRW 31.61 NM 41.40 19.11 17.6 2.57 1.80 1.75 Dec $2,264 3.5% DFComerica Inc. (q) CMA N MP3 M/GRW 49.20 NM 73.43 24.28 16.7 7.73 2.95 3.95 Dec $6,843 5.5% MRCommerce Bancshares, Inc. (ng) CBSH Q MP3 M/GRW 65.96 NM 71.92 45.51 22.8 3.58 2.89 3.65 Dec $7,357 1.6% DJL, DTCommunity Bank System, Inc. (ng) CBU N MP3 M/INC 62.25 NM 72.63 47.01 19.7 3.24 3.15 2.60 Dec $3,333 2.7% WW, ASCommunity Trust Bancorp, Inc. (ng) CTBI Q MP3 M/GRW 33.85 NM 47.54 26.45 10.0 3.49 3.38 2.75 Dec $603 4.5% DT, DJLConnectOne Bancorp, Inc. (ng) CNOB Q SB1 H/GRW 17.73 21.00 26.50 8.86 8.3 2.29 2.13 2.05 Dec $705 2.0% WW, ASCrossFirst Bankshares, Inc. (q) CFB Q MP3 M/GRW 9.10 NM 14.50 5.66 21.7 0.53 0.42 0.40 Dec $475 0.0% MRCullen/Frost Bankers, Inc. (q) CFR N MU4 M/GRW 83.91 NM 99.42 47.69 16.4 6.84 5.13 4.75 Dec $5,274 3.4% MR


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CVB Financial Corp. (q) CVBF Q MP3 M/GRW 18.99 NM 22.22 14.91 14.8 1.46 1.28 1.16 Dec $2,573 3.8% DFDime Community Bancshares, Inc. (ng) DCOM Q MO2 M/GRW 14.45 17.00 21.68 10.59 10.3 1.09 1.40 1.60 Dec $478 3.9% WW, ASEnterprise Financial Services Corp. (ng) EFSC Q MO2 M/GRW 34.01 40.00 48.81 21.70 13.0 4.09 2.62 2.73 Dec $1,061 2.1% DJL, DTF.N.B. Corporation (ng) FNB N MO2 M/INC 8.83 9.00 12.93 5.05 9.6 1.18 0.92 0.48 Dec $2,849 5.4% WW, ASFarmers National Banc Corp. (ng) FMNB Q MO2 H/GRW 12.54 14.00 16.50 9.82 9.0 1.29 1.39 1.50 Dec $354 3.5% DT, DJLFB Financial Corporation (ng) FBK N MP3 H/GRW 31.92 NM 40.33 14.38 9.5 2.78 3.35 1.70 Dec $1,507 1.1% AS, WWFirst Bancorp (ng) FBNC Q MP3 H/GRW 31.38 NM 41.34 17.32 12.3 3.11 2.55 1.95 Dec $898 2.3% WW, ASFirst Busey Corporation (ng) BUSE Q MP3 H/GRW 20.01 NM 28.00 11.00 10.4 2.13 1.93 1.69 Dec $1,091 4.4% DJL, DTFirst Business Financial Services, Inc. (ng) FBIZ Q MO2 M/GRW 18.89 21.00 27.35 12.86 9.9 2.68 1.91 2.63 Dec $161 3.5% DT, DJLFirst Commonwealth Financial Corp. (ng) FCF N MP3 H/GRW 9.67 NM 14.93 6.77 12.1 1.10 0.80 1.00 Dec $930 4.6% WW, ASFirst Community Corporation (ng) FCCO Q MO2 H/GRW 17.26 16.00 22.00 12.23 15.7 1.46 1.10 1.15 Dec $129 2.8% AS, WWFirst Financial Bancorp. (ng) FFBC Q MP3 H/GRW 16.05 NM 26.19 10.83 9.9 2.14 1.62 1.42 Dec $1,573 5.7% DJL, DTFirst Financial Corporation (ng) THFF Q MP3 M/INC 37.87 NM 46.93 27.62 9.9 3.80 3.81 2.60 Dec $519 2.8% DJL, DTFirst Foundation Inc. (q) FFWM Q MO2 H/GRW 17.76 19.00 20.24 8.01 9.7 1.25 1.83 1.70 Dec $793 1.6% DFFirst Horizon National Corporation (q) FHN N SB1 M/INC 12.22 13.00 17.40 6.27 18.2 1.66 0.67 1.25 Dec $6,780 4.9% MRFirst Merchants Corporation (ng) FRME Q MP3 M/GRW 33.32 NM 42.48 21.18 13.0 3.39 2.57 2.52 Dec $1,808 3.1% DT, DJLFirst Mid Bancshares, Inc. (ng) FMBH Q MP3 M/GRW 30.05 NM 36.20 18.60 11.6 2.87 2.59 2.71 Dec $503 2.7% DT, DJLFirst Midwest Bancorp, Inc. (ng) FMBI Q MO2 M/GRW 13.99 15.00 23.64 10.31 13.6 1.99 1.03 0.90 Dec $1,599 4.0% DT, DJLFirst Republic Bank (ng) FRC N MP3 M/GRW 129.56 NM 142.14 70.06 22.7 5.20 5.71 5.80 Dec $22,536 0.6% DJL, DTFlagstar Bancorp, Inc. (ng) FBC N SB1 M/GRW 35.04 46.00 39.31 16.76 3.8 3.48 9.31 6.73 Dec $1,842 0.6% DT, DJLFS Bancorp, Inc. (q) FSBW Q MO2 H/GRW 53.50 53.00 64.41 27.50 6.9 5.32 7.80 4.00 Dec $227 1.6% DFFulton Financial Corporation (ng) FULT Q MO2 M/GRW 12.32 13.00 18.00 8.89 11.2 1.35 1.10 0.95 Dec $1,999 4.2% DT, DJLFVCBankcorp, Inc. (ng) FVCB Q MP3 H/GRW 13.00 NM 17.64 9.27 11.9 1.07 1.10 0.90 Dec $175 0.0% WW, ASGerman American Bancorp, Inc. (ng) GABC Q MP3 M/GRW 31.94 NM 36.17 23.54 14.6 2.37 2.19 2.21 Dec $846 2.4% DJL, DTGlacier Bancorp, Inc. (q) GBCI Q MP3 M/GRW 40.77 NM 46.54 26.66 14.8 2.63 2.76 2.60 Dec $3,890 2.9% DFGreat Western Bancorp, Inc. (ng) GWB N MP3 M/GRW 16.43 NM 36.14 10.86 20.2 2.92 0.58A 0.81 Sep $904 0.2% DJL, DTGuaranty Federal Bancshares, Inc. (ng) GFED Q MP3 H/GRW 15.56 NM 26.93 12.70 9.5 2.12 1.63 0.63 Dec $68 3.9% DT, DJLHancock Whitney Corporation (q) HWC Q MO2 M/GRW 28.09 28.00 44.42 14.32 NM 4.01 -0.93 2.90 Dec $2,427 3.8% MRHanmi Financial Corporation (q) HAFC Q MP3 H/GRW 9.75 NM 20.79 7.15 7.4 1.13 1.32 0.85 Dec $300 3.3% DFHBT Financial, Inc. (ng) HBT Q MO2 M/GRW 13.98 16.00 20.71 9.11 10.8 3.47 1.29 1.33 Dec $632 4.3% DT, DJLHeartland Financial USA, Inc. (ng) HTLF Q MP3 H/GRW 38.98 NM 51.85 25.26 10.4 4.28 3.75 3.50 Dec $1,438 2.1% DJL, DTHeritage Commerce Corp (q) HTBK Q MO2 H/GRW 8.42 9.00 13.14 6.04 14.0 1.03 0.60 0.50 Dec $504 6.2% DFHeritage Financial Corporation (q) HFWA Q MP3 H/GRW 23.27 NM 29.25 14.65 20.1 1.82 1.16 1.45 Dec $836 3.4% DFHilltop Holdings Inc. (q) HTH N MO2 M/GRW 24.09 28.00 26.28 11.05 5.2 2.35 4.60 2.50 Dec $2,174 1.5% MRHome Bancorp, Inc. (ng) HBCP Q MP3 H/GRW 28.05 NM 40.00 18.57 11.5 3.00 2.45 2.65 Dec $246 3.1% WW, ASHome BancShares, Inc. (q) HOMB Q MO2 M/GRW 18.51 19.00 21.04 9.71 14.8 1.70 1.25 1.25 Dec $3,057 3.0% MRHope Bancorp, Inc. (q) HOPE Q MP3 H/GRW 9.48 NM 15.51 7.03 9.9 1.35 0.96 0.80 Dec $1,169 5.9% DFHorizon Bancorp, Inc. (ng) HBNC Q MO2 H/GRW 14.30 14.00 19.48 7.42 9.9 1.63 1.44 1.15 Dec $627 3.4% DJL, DTHoward Bancorp, Inc. (ng) HBMD Q MP3 M/GRW 12.34 NM 18.87 8.44 14.0 1.02 0.88 0.65 Dec $231 0.0% WW, ASHuntington Bancshares Incorporated (ng) HBAN Q MO2 M/GRW 12.08 12.00 15.63 6.82 17.3 1.25 0.70 1.04 Dec $12,289 5.0% DJL, DTIndependent Bank Group, Inc. (q) IBTX Q MP3 M/GRW 56.11 NM 63.16 20.35 11.2 5.11 5.01 4.95 Dec $2,427 2.1% MRLakeland Bancorp, Inc. (ng) LBAI Q MO2 M/GRW 12.02 14.00 17.63 8.31 10.9 1.43 1.10 0.90 Dec $607 4.2% WW, ASLakeland Financial Corporation (ng) LKFN Q MP3 M/GRW 50.79 NM 56.28 30.49 15.9 3.38 3.20 2.97 Dec $1,306 2.4% DJL, DTLevel One Bancorp, Inc. (ng) LEVL Q MO2 H/GRW 19.07 21.00 25.78 13.45 8.9 2.11 2.15 1.62 Dec $147 1.0% DJL, DT


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Limestone Bancorp, Inc. (ng) LMST Q MP3 H/GRW 12.16 NM 18.49 6.83 12.7 1.49 0.96 0.55 Dec $91 0.0% DT, DJLLive Oak Bancshares, Inc. (ng) LOB Q SB1 M/GRW 41.12 42.00 47.50 7.57 45.7 0.37 0.90 2.25 Dec $1,671 0.3% AS, WWMercantile Bank Corporation (ng) MBWM Q MP3 M/GRW 24.83 NM 37.32 17.09 10.3 2.97 2.40 1.32 Dec $403 4.5% DJL, DTMerchants Bancorp (ng) MBIN Q SB1 H/GRW 26.64 31.00 28.88 12.37 5.0 2.37 5.38 5.46 Dec $766 1.2% DT, DJLMeridian Bancorp, Inc. (ng) EBSB Q SB1 M/GRW 13.64 15.00 20.86 8.88 11.0 1.27 1.25 1.25 Dec $715 2.3% WW, ASMeta Financial Group, Inc. (ng) CASH Q SB1 M/GRW 33.10 42.00 40.00 13.09 10.9 2.72 2.44A 3.05 Sep $1,137 0.6% WW, ASMetroCity Bankshares, Inc. (q) MCBS Q MP3 H/GRW 13.85 NM 19.07 8.31 9.8 1.81 1.42 1.52 Dec $356 2.6% DFNew York Community Bancorp, Inc. (ng) NYCB N MP3 M/INC 9.69 NM 12.10 7.72 11.2 0.77 0.86 1.05 Dec $4,495 7.0% WW, ASNorthwest Bancshares, Inc. (ng) NWBI Q MP3 M/GRW 11.83 NM 16.98 8.52 16.3 1.07 0.72 1.02 Dec $1,512 6.4% DT, DJLOceanFirst Financial Corp. (ng) OCFC Q SB1 M/GRW 15.77 19.00 25.61 11.60 8.8 2.06 1.78 1.20 Dec $952 4.3% WW, ASOld National Bancorp (ng) ONB Q MP3 M/GRW 15.83 NM 18.74 11.19 10.5 1.44 1.51 1.20 Dec $2,617 3.5% DJL, DTOld Second Bancorp, Inc. (ng) OSBC Q SB1 M/GRW 9.66 12.00 13.77 5.96 10.8 1.30 0.90 0.72 Dec $284 0.4% DJL, DTOrigin Bancorp, Inc. (ng) OBNK Q SB1 H/GRW 25.71 28.00 38.14 15.98 17.5 2.28 1.47 1.90 Dec $604 1.6% WW, ASPacific Premier Bancorp, Inc. (q) PPBI Q SB1 H/GRW 28.82 30.00 34.13 13.93 32.0 2.64 0.90 1.85 Dec $2,720 3.9% DFPacWest Bancorp (ng) PACW Q MP3 M/GRW 23.26 NM 39.39 13.84 14.4 3.89 1.61 2.27 Dec $2,716 4.3% DJL, DTPCB Bancorp (q) PCB Q MO2 H/GRW 10.89 11.00 17.75 7.31 10.4 1.49 1.05 0.95 Dec $167 3.7% DFPeople's United Financial, Inc. (ng) PBCT Q MP3 M/GRW 12.40 NM 17.13 9.37 10.0 1.39 1.25 0.95 Dec $5,268 5.8% WW, ASPeoples Bancorp Inc. (ng) PEBO Q MP3 H/GRW 24.98 NM 39.28 17.91 15.5 2.92 1.62 1.86 Dec $493 5.6% DJL, DTPinnacle Financial Partners, Inc. (q) PNFP Q MO2 M/GRW 54.16 50.00 65.00 27.80 13.6 5.22 3.97 4.45 Dec $4,108 1.2% MRPreferred Bank (q) PFBC Q MP3 H/GRW 36.77 NM 64.50 20.04 8.2 4.97 4.50 4.10 Dec $549 3.3% DFPremier Financial Corp. (ng) PFC Q MO2 H/GRW 20.71 22.00 32.39 10.98 8.0 2.53 2.59 2.25 Dec $772 4.2% DJL, DTProsperity Bancshares, Inc. (q) PB N MO2 M/GRW 62.83 65.00 75.22 42.02 11.8 5.02 5.34 4.66 Dec $5,816 3.1% MRQCR Holdings, Inc. (ng) QCRH Q MO2 H/GRW 34.87 38.00 44.76 22.39 8.7 3.50 4.00 3.18 Dec $551 0.7% DJL, DTRegions Financial Corporation (q) RF N SB1 M/GRW 15.27 15.00 17.54 6.94 19.1 1.50 0.80 1.35 Dec $14,666 4.1% MRReliant Bancorp, Inc. (ng) RBNC Q MP3 M/GRW 17.69 NM 23.41 9.45 8.8 1.45 2.00 1.75 Dec $288 2.3% AS, WWRenasant Corporation (q) RNST Q MP3 M/GRW 30.87 NM 36.84 18.22 19.3 2.88 1.60 2.05 Dec $1,735 2.9% MRRiverview Bancorp, Inc. (q) RVSB Q MO2 H/GRW 5.28 5.50 8.55 3.77 13.2 0.75 0.70A 0.40 Mar $118 3.8% DFS&T Bancorp, Inc. (ng) STBA Q MP3 H/GRW 20.63 NM 41.53 16.98 11.6 3.10 1.77 2.05 Dec $810 5.4% WW, ASSeacoast Banking Corporation of Florida (q) SBCF Q MO2 M/GRW 25.26 25.00 31.42 13.30 16.0 1.95 1.58 1.65 Dec $1,394 0.0% DFServisFirst Bancshares, Inc. (ng) SFBS Q MP3 M/GRW 37.78 NM 41.33 21.76 12.6 2.76 3.00 2.75 Dec $2,037 1.9% WW, ASSierra Bancorp (q) BSRR Q MO2 H/GRW 22.00 21.50 30.15 13.05 9.2 2.31 2.40 2.26 Dec $338 3.6% DFSignature Bank (ng) SBNY Q SB1 M/GRW 112.19 138.00 148.64 68.98 11.5 10.86 9.76 10.65 Dec $8,759 2.0% DJL, DTSimmons First National Corporation (q) SFNC Q MO2 M/GRW 19.50 19.00 27.29 13.75 8.5 2.48 2.30 1.50 Dec $2,123 3.5% DFSmartFinancial, Inc. (ng) SMBK Q MO2 M/GRW 17.66 18.00 23.99 11.05 11.4 1.68 1.55 0.85 Dec $269 1.1% AS, WWSouth State Corporation (ng) SSB Q MO2 M/GRW 66.47 68.00 88.10 40.42 26.0 5.69 2.56 5.00 Dec $4,716 2.8% MRStock Yards Bancorp, Inc. (ng) SYBT Q MP3 M/GRW 39.84 NM 44.73 22.98 15.9 2.89 2.50 2.43 Dec $904 2.7% DJL, DTSVB Financial Group (ng) SIVB Q MO2 M/GRW 344.86 325.00 363.10 127.39 18.1 21.86 19.02 16.10 Dec $22,692 0.0% DJL, DTSynovus Financial Corp. (q) SNV N MO2 M/GRW 31.57 28.00 40.32 10.91 13.0 3.90 2.42 2.55 Dec $4,666 4.2% MRTCF Financial Corporation (ng) TCF Q SB1 M/GRW 33.60 40.00 47.46 16.96 14.0 4.05 2.40 2.31 Dec $5,124 4.2% DJL, DTTexas Capital Bancshares, Inc. (q) TCBI Q MP3 M/GRW 55.90 NM 64.88 19.10 29.0 6.10 1.93 4.50 Dec $2,821 0.0% MRThe Bancorp, Inc. (ng) TBBK Q SB1 H/SPEC 11.80 12.00 13.73 3.36 8.8 1.06 1.35 1.70 Dec $680 0.0% WW, ASThe Bank of N.T. Butterfield & Son (q) NTB N MO2 H/GRW 31.66 29.00 38.05 13.76 11.1 3.67 2.84 2.50 Dec $1,586 5.6% DFThe First of Long Island Corporation (ng) FLIC Q MP3 M/INC 16.81 NM 25.53 12.15 9.7 1.77 1.73 1.40 Dec $402 4.5% AS, WWThe PNC Financial Services Group, Inc. (q) PNC N MP3 M/GRW 138.07 NM 161.79 79.41 23.2 11.46 5.94 5.55 Dec $58,500 3.3% MR


52 Week EPS

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TowneBank (ng) TOWN Q MP3 M/GRW 21.75 NM 29.02 15.03 13.2 1.91 1.65 1.30 Dec $1,580 3.3% WW, ASTriCo Bancshares (q) TCBK Q MO2 H/GRW 32.76 35.00 41.42 23.05 15.7 2.98 2.08 2.65 Dec $975 2.7% DFTriState Capital Holdings, Inc. (ng) TSC Q SB1 H/GRW 14.89 20.00 26.43 7.59 12.3 1.89 1.21 1.00 Dec $444 0.0% DT, DJLTriumph Bancorp, Inc. (q) TBK Q MO2 M/GRW 45.44 50.00 49.42 19.03 25.0 2.25 1.82 2.60 Dec $1,129 0.0% MRTruist Financial Corporation (q) TFC N MO2 M/INC 46.42 46.00 56.92 24.01 12.3 4.03 3.77 3.40 Dec $62,580 3.9% MRTrustmark Corporation (q) TRMK Q MP3 M/INC 24.82 NM 35.64 20.08 10.0 2.30 2.48 1.75 Dec $1,574 3.7% MRU.S. Bancorp (ng) USB N MP3 M/GRW 43.21 NM 61.11 28.36 14.3 4.16 3.02 3.21 Dec $65,093 3.9% DJL, DTUMB Financial Corporation (ng) UMBF Q MO2 M/GRW 68.01 69.00 72.76 39.47 14.4 4.96 4.73 4.83 Dec $3,267 1.9% DJL, DTUnited Bankshares, Inc. (ng) UBSI Q MP3 M/INC 29.28 NM 39.11 19.67 11.1 2.58 2.65 2.05 Dec $3,799 4.8% WW, ASUnited Community Banks, Inc. (q) UCBI Q MO2 M/GRW 23.91 23.00 31.66 14.95 12.3 2.38 1.95 2.05 Dec $2,101 3.0% MRUnivest Financial Corporation (ng) UVSP Q MO2 M/GRW 18.31 20.00 27.54 13.20 15.3 2.27 1.20 1.70 Dec $536 4.4% WW, ASVeritex Holdings, Inc. (q) VBTX Q SB1 M/GRW 21.69 23.00 29.41 10.02 14.7 2.27 1.48 1.70 Dec $1,077 3.1% MRWebster Financial Corporation (ng) WBS N SB1 H/GRW 37.84 40.00 54.04 18.16 15.2 4.06 2.50 3.05 Dec $3,413 4.2% WW, ASWells Fargo & Company (ng) WFC N MO2 M/GRW 27.35 32.00 54.56 20.76 NM 4.05 0.21 1.63 Dec $113,078 1.5% DJL, DTWesBanco, Inc. (ng) WSBC Q MO2 H/GRW 28.63 29.00 38.39 17.46 16.4 3.01 1.75 1.70 Dec $1,925 4.5% WW, ASWintrust Financial Corporation (ng) WTFC Q SB1 M/GRW 54.49 65.00 71.95 22.02 12.1 6.03 4.52 3.89 Dec $3,141 2.1% DJL, DTZions Bancorporation (ng) ZION Q SB1 M/GRW 38.59 45.00 52.48 23.58 15.1 4.31 2.55 2.84 Dec $6,329 3.5% DJL, DT

Capital MarketsBrokerages & ExchangesBGC Partners, Inc. (ng) BGCP Q MP3 H/SPEC 4.14 NM 6.14 2.07 7.4 0.61 0.56 0.69 Dec $1,501 1.0% POCboe Global Markets, Inc. (ng) CBOE B MP3 M/GRW 91.32 NM 127.93 72.01 17.8 4.73 5.13 4.90 Dec $9,866 1.8% POCBRE Group, Inc. (ng) CBRE N MO2 M/GRW 61.14 59.00 64.75 29.17 21.6 3.71 2.83 3.50 Dec $20,510 0.0% POCME Group Inc. (ng) CME Q MO2 M/GRW 175.03 183.00 225.36 131.80 26.2 6.80 6.68 6.70 Dec $62,834 1.9% POCushman & Wakefield plc (ng) CWK N MO2 M/GRW 14.90 18.00 20.80 6.84 20.2 1.65 0.74 1.30 Dec $3,302 0.0% POIntercontinental Exchange, Inc. (ng) ICE N SB1 M/GRW 105.51 125.00 106.99 63.51 23.9 3.88 4.41 4.70 Dec $59,221 1.1% POJones Lang LaSalle Incorporated (ng) JLL N MO2 M/GRW 132.29 142.00 178.55 78.29 16.8 14.09 7.88 10.25 Dec $6,786 0.7% POMarketAxess Holdings Inc. (g) MKTX Q MO2 M/GRW 539.18 599.00 606.45 275.50 69.4 5.40 7.77 8.50 Dec $20,467 0.4% PONasdaq, Inc. (ng) NDAQ Q MP3 M/GRW 127.99 NM 139.50 71.66 21.3 5.00 6.00 5.80 Dec $20,995 1.5% PONewmark Group, Inc. (ng) NMRK Q MO2 H/GRW 7.02 10.00 13.85 2.49 8.1 1.62 0.86 1.25 Dec $1,266 0.6% POThe Charles Schwab Corporation (ng) SCHW N MP3 M/GRW 48.78 NM 51.65 28.00 20.7 2.72 2.36 2.50 Dec $91,536 1.5% POTradeweb Markets Inc. (ng) TW Q MP3 M/GRW 59.65 NM 69.06 33.23 47.0 1.00 1.27 1.35 Dec $13,581 0.5% POMarkets Technology & ServicesAssetMark Financial Holdings, Inc. (ng) AMK N MO2 H/GRW 23.78 32.00 34.02 13.94 24.5 0.96 0.97 1.10 Dec $1,723 0.0% POBroadridge Financial Solutions, Inc. (ng) BR N MO2 M/GRW 146.88 155.00 153.34 81.90 26.6 4.66 5.03A 5.53 Jun $16,982 1.6% POEnvestnet, Inc. (ng) ENV N SB1 H/GRW 80.26 105.00 92.51 45.53 31.5 2.15 2.55 2.75 Dec $4,330 0.0% POFactSet Research Systems Inc. (ng) FDS N MU4 M/GRW 333.76 NM 363.64 195.22 30.7 10.00 10.87 11.05 Aug $12,680 0.9% POFocus Financial Partners Inc. (ng) FOCS Q MO2 M/GRW 39.61 44.00 41.66 12.17 13.4 2.38 2.96 3.25 Dec $2,005 0.0% POMoody's Corporation (ng) MCO N MP3 M/GRW 282.34 NM 305.96 164.19 27.9 8.29 10.14 10.20 Dec $53,023 0.8% POMSCI Inc. (ng) MSCI N MP3 M/GRW 409.42 NM 437.35 218.65 51.9 6.44 7.89 8.60 Dec $33,941 0.8% POS&P Global Inc. (ng) SPGI N MP3 M/GRW 351.78 NM 379.87 186.06 30.5 9.30 11.54 11.70 Dec $84,638 0.8% POSEI Investments Company (ng) SEIC Q MP3 M/GRW 52.75 NM 69.61 35.41 18.1 3.24 2.92 3.40 Dec $7,626 1.3% POSS&C Technologies Holdings, Inc. (ng) SSNC Q SB1 H/GRW 68.89 71.00 69.98 29.51 16.3 3.83 4.23 4.45 Dec $17,633 0.8% PO


52 Week EPS

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InsuranceBrokerage & TechnologyAon plc (ng) AON N MU4 H/GRW 204.89 NM 238.19 143.93 21.3 9.16 9.60 10.45 Dec $46,674 0.9% CGPArthur J. Gallagher & Co. (ng) AJG N SB1 M/INC 115.41 125.00 118.39 65.09 25.4 3.66 4.55 4.55 Dec $22,196 1.6% CGPBrown & Brown, Inc. (ng) BRO N MO2 H/GRW 45.03 50.00 48.69 30.70 28.1 1.40 1.60 1.65 Dec $12,791 0.8% CGPBRP Group, Inc. (ng) BRP Q MO2 H/GRW 29.45 36.00 33.56 8.35 64.8 0.27 0.45 0.70 Dec $1,001 0.0% CGPCrawford & Company (ng) CRD.B N MP3 H/GRW 7.30 NM 10.69 4.95 11.2 0.65 0.65 0.60 Dec $388 2.7% CGPGoHealth, Inc. (ar) GOCO Q MO2 H/GRW 10.54 18.00 26.25 10.02 23.4 NA 0.45 0.80 Dec $3,319 0.0% CGPHealthEquity, Inc. (g) HQY Q SB1 H/GRW 71.69 75.00 88.78 34.40 NM 1.17 0.55A -0.11 Jan $5,510 0.0% CGPMarsh & McLennan Companies, Inc. (ng) MMC N MO2 M/GRW 114.64 130.00 120.97 74.33 23.6 4.65 4.85 5.10 Dec $58,144 1.6% CGPVerisk Analytics, Inc. (ng) VRSK Q MP3 H/GRW 198.31 NM 206.83 116.61 40.1 4.38 4.95 5.25 Dec $32,243 0.5% CGPWillis Towers Watson Public Ltd Company (ng) WLTW Q MP3 H/GRW 208.19 NM 220.97 143.34 18.3 10.98 11.35 12.05 Dec $26,842 1.3% CGPCommercial LinesAmerican Financial Group, Inc. (ng) AFG N MP3 H/GRW 89.41 NM 115.03 44.01 12.4 8.62 7.20 8.50 Dec $7,764 2.2% CGPArgo Group International Holdings, Ltd. (ng) ARGO N SB1 H/GRW 39.19 45.00 70.44 25.00 NM -0.90 0.25 3.10 Dec $1,359 3.2% CGPChubb Limited (ng) CB N SB1 M/INC 147.83 180.00 167.74 87.35 21.3 10.11 6.95 11.25 Dec $66,726 2.1% CGPConifer Holdings, Inc. (ng) CNFR Q MP3 H/GRW 2.39 NM 4.16 2.00 NM -1.69 -0.54 0.15 Dec $23 0.0% CGPHallmark Financial Services, Inc. (ng) HALL Q MP3 H/GRW 3.23 NM 19.08 2.28 NM -0.93 -0.25 0.35 Dec $59 0.0% CGPOld Republic International Corporation (ng) ORI N SB1 M/INC 17.92 21.00 23.62 11.88 9.4 1.82 1.90 1.65 Dec $5,449 4.7% CGPProAssurance Corporation (ng) PRA N MP3 H/GRW 15.91 NM 37.80 12.67 NM -0.81 -0.50 0.25 Dec $857 1.3% CGPThe Travelers Companies, Inc. (ng) TRV N MU4 M/INC 129.65 NM 141.87 76.99 15.3 9.60 8.45 10.00 Dec $32,842 2.6% CGPLife/HealthAflac Incorporated (ng) AFL N MO2 M/GRW 43.93 50.00 54.83 23.07 9.0 4.42 4.90 4.70 Dec $30,859 3.0% CGPAmerican Equity Investment Life Holding (ng) AEL N MP3 H/GRW 26.28 NM 34.25 9.07 5.5 5.97 4.75 4.55 Dec $2,418 1.2% CGPeHealth, Inc. (ar) EHTH Q MO2 H/GRW 75.99 115.00 152.19 60.40 19.0 4.13 4.00 5.15 Dec $1,968 0.0% CGP, JWRFBL Financial Group, Inc. (ng) FFG N MO2 M/INC 52.00 65.00 61.28 29.01 13.5 4.75 3.85 4.60 Dec $1,268 3.8% CGPPersonal LinesFedNat Holding Company (ng) FNHC Q MP3 H/GRW 5.64 NM 16.87 4.60 NM -0.03 -4.55 -0.05 Dec $77 6.4% CGPKemper Corporation (ng) KMPR N SB1 H/GRW 74.95 85.00 85.69 53.81 11.7 6.27 6.40 6.00 Dec $4,902 1.6% CGPMercury General Corporation (ng) MCY N MU4 H/INC 44.47 NM 53.97 33.45 9.5 2.60 4.70 3.40 Dec $2,462 5.7% CGPThe Allstate Corporation (ng) ALL N SB1 M/GRW 102.35 120.00 125.92 64.13 8.4 10.43 12.15 11.25 Dec $31,122 2.1% CGPThe Progressive Corporation (ng) PGR N SB1 H/GRW 87.11 115.00 102.05 62.18 12.4 5.36 7.05 5.35 Dec $51,012 0.5% CGPUnited Insurance Holdings Corp. (ng) UIHC Q MO2 H/GRW 4.43 7.00 12.93 4.34 NM -1.08 -2.15 0.20 Dec $191 5.4% CGP

Specialty FinanceBusiness Development CompaniesApollo Investment Corporation (cn) AINV Q MP3 H/INC 10.85 NM 18.33 5.20 6.5 1.81 2.16A 1.68 Mar $708 11.4% RDAres Capital Corporation (cn) ARCC Q MO2 H/INC 16.48 16.00 19.33 7.90 10.3 1.89 1.60 1.68 Dec $6,965 9.7% RDBarings BDC, Inc. (cn) BBDC N SB1 H/INC 8.67 9.50 10.59 4.67 14.0 0.61 0.62 0.80 Dec $416 7.8% RDBlackRock TCP Capital Corp. (cn) TCPC Q MP3 H/INC 11.85 NM 14.76 4.02 8.4 1.61 1.41 1.33 Dec $685 10.1% RDCapital Southwest Corporation (cn) CSWC Q MO2 H/INC 17.28 16.50 22.56 7.39 10.1 1.48 1.68A 1.70 Mar $322 9.5% RDCrescent Capital BDC, Inc. (cn) CCAP Q MO2 H/INC 13.91 15.00 17.99 6.21 7.6 1.83 1.83 1.85 Dec $392 11.8% RDFidus Investment Corporation (cn) FDUS Q MO2 H/INC 14.15 14.00 16.17 4.45 9.9 1.44 1.43 1.49 Dec $346 8.5% RDFirst Eagle Alternative Capital BDC (cn) FCRD Q MP3 H/INC 3.70 NM 6.89 1.56 10.7 0.89 0.34 0.42 Dec $111 10.8% RD


52 Week EPS

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FS KKR Capital Corp. (cn) FSK N MO2 H/INC 17.82 18.00 25.52 7.60 6.7 3.21 2.67 2.63 Dec $2,205 13.5% RDGoldman Sachs BDC, Inc. (cn) GSBD N MP3 H/INC 18.27 NM 22.50 8.00 9.8 2.02 1.87 1.92 Dec $1,855 9.9% RDGolub Capital BDC, Inc. (cn) GBDC Q MP3 H/INC 13.99 NM 18.33 8.94 11.5 1.27 1.22 1.12 Sep $2,340 8.3% RDInvestcorp Credit Management BDC, Inc. (cn) ICMB Q MO2 H/INC 5.02 6.50 7.70 1.38 6.4 1.00 1.04A 0.79 Jun $70 12.0% RDMain Street Capital Corporation (cn) MAIN N MP3 H/INC 31.15 NM 45.10 14.11 14.3 2.66 2.18 2.42 Dec $2,064 7.9% RDMonroe Capital Corp. (cn) MRCC Q MP3 H/INC 8.75 NM 12.10 3.56 5.9 1.42 1.47 1.04 Dec $186 11.4% RDNewtek Business Services Corp. (cn) NEWT Q MP3 H/SPEC 18.03 NM 23.73 7.59 8.4 2.33 2.15 2.20 Dec $393 10.4% RDOwl Rock Capital Corporation (cn) ORCC N MO2 H/INC 13.52 13.50 19.19 8.09 10.3 1.54 1.31 1.29 Dec $5,249 9.2% RDPennantPark Investment Corporation (cn) PNNT Q MO2 H/INC 4.49 6.00 6.86 1.76 8.2 0.72 0.61A 0.55 Sep $301 10.7% RDProspect Capital Corporation (cn) PSEC Q MU4 H/INC 5.34 NM 6.75 3.67 8.1 0.85 0.72A 0.66 Jun $2,032 13.5% RDSixth Street Specialty Lending, Inc. (cn) TSLX N MO2 H/INC 20.61 20.00 23.67 11.25 9.1 2.00 2.27 2.10 Dec $1,394 8.0% RDSolar Capital Ltd. (cn) SLRC Q MO2 H/INC 17.61 19.00 21.24 7.42 12.6 1.71 1.40 1.63 Dec $744 9.3% RDStellus Capital Investment Corporation (cn) SCM N MO2 H/INC 11.12 11.00 15.04 4.10 9.8 1.32 1.13 1.07 Dec $217 9.0% RDWhiteHorse Finance, Inc. (cn) WHF Q MO2 H/INC 13.45 14.00 14.40 5.51 10.8 1.51 1.25 1.45 Dec $276 10.6% RDInvestment CompaniesCompass Diversified Holdings (ca) CODI N MP3 H/INC 19.57 NM 26.37 10.78 12.2 1.74 1.60 1.94 Dec $1,270 7.4% RDFortress Transportation & Infrastructure (g) FTAI N MO2 H/INC 20.87 19.00 21.73 3.69 NM 2.64 -0.77 -0.18 Dec $1,787 6.3% RDSpecialty Consumer FinanceEncore Capital Group Inc. (ng) ECPG Q MP3 H/GRW 34.14 NM 49.01 15.27 3.9 5.94 8.70 8.60 Dec $1,070 0.0% RDPRA Group, Inc. (ng) PRAA Q MP3 H/GRW 41.63 NM 47.35 19.40 13.1 1.89 3.17 2.59 Dec $1,897 0.0% RD


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Financial Services - CAN

Stephen Boland, CFA [email protected] Li, CFA [email protected] Diversified FinancialsCanadian Western Bank CWB T MO2 M/GRW C$30.18 34.00 35.83 15.70 10.5 3.04 2.88 3.23 Dec C$2,629 3.8% SBDye & Durham Limited DND T MO2 M/GRW C$27.63 26.00 28.68 11.25 0.5 33.48 34.52A 56.35 Jun C$1,564 0.3% SBECN Capital Corp. ECN T MO2 H/GRW C$6.04 7.00 6.32 2.67 19.1 0.28 0.32 0.48 Dec C$1,478 1.7% SBElement Fleet Management Corp. EFN T MO2 H/GRW C$13.21 14.50 13.82 6.96 16.4 0.86 0.81 1.08 Dec C$5,817 2.0% SBEquitable Group Inc. EQB T MP3 H/GRW C$95.09 104.00 115.32 44.57 7.8 12.29 12.14 13.24 Dec C$1,598 1.6% SBgoeasy Ltd. GSY T MO2 H/GRW C$84.98 84.00 90.86 21.08 11.3 5.17 7.54 8.38 Dec C$1,261 2.1% SBHome Capital Group Inc. HCG T MP3 H/GRW C$29.49 31.00 35.30 13.67 9.1 2.49 3.25 3.49 Dec C$1,542 0.0% SBInformation Services Corporation (ae) ISV T MO2 M/INC C$19.26 22.00 20.01 12.02 0.5 40.03 40.45 47.69 Dec C$337 4.2% SBIntact Financial Corporation IFC T R M/INC C$145.29 R 157.65 104.81 R 6.14 R R Dec C$20,779 2.3% SBMogo Inc. MOGO T MO2 H/GRW C$3.41 4.50 3.85 0.79 NM -0.82 -0.40 -0.24 Dec C$132 0.0% SLiQuisitive Technology Solutions Inc. QUIS V MO2 H/GRW C$0.92 1.10 1.26 0.14 NM 1,269.24 7,998.88 8,786.59 Dec C$178 0.0% SBTrisura Group Ltd. (bv) TSU T MP3 H/GRW C$82.10 100.00 96.77 34.00 3.0 21.58 27.46 30.92 Dec C$843 0.0% SB


Healthcare

USAAlternate Site Healthcare Providers .................................................................................... 38Animal Health ................................................................................................................ 38Biotechnology ................................................................................................................ 38Death Care .................................................................................................................... 39Diagnostics & Clinical Laboratories ..................................................................................... 39Healthcare Information Technology ................................................................................... 39Healthcare Supply Chain Services ...................................................................................... 40Hospitals ....................................................................................................................... 40Hospital Supplies & Equipment ......................................................................................... 40Integrated Benefits Management ....................................................................................... 40Medical Devices .............................................................................................................. 40Specialty Pharmaceuticals ................................................................................................ 41

CANBiotechnology ................................................................................................................ 42Cannabis ....................................................................................................................... 42Pharmaceuticals ............................................................................................................. 42


52 Week EPS

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Jayson Bedford [email protected] Brill, PharmD [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 SB1 H/GRW 42.45 48.00 44.75 11.09 18.0 2.04 2.36 2.69 Dec $3,778 0.0% JWRAddus HomeCare Corporation (ng) ADUS Q MO2 M/GRW 99.25 125.00 117.77 43.12 32.4 2.50 3.06 3.75 Dec $1,569 0.0% JWRAmedisys, Inc. (ng) AMED Q MO2 H/GRW 244.79 300.00 273.77 132.95 40.4 4.40 6.07 6.16 Dec $8,032 0.0% JWRDaVita Inc. (ng) DVA N MP3 H/GRW 109.85 NM 114.13 62.20 14.7 5.40 7.48 8.23 Dec $12,303 0.0% JWREncompass Health Corporation (ng) EHC N MO2 H/GRW 80.58 90.00 83.30 48.01 28.2 3.91 2.86 3.93 Dec $8,012 1.4% JWRRadNet, Inc. (g) RDNT Q MO2 H/GRW 18.62 22.00 23.45 5.81 NM 0.29 -0.22 0.51 Dec $962 0.0% JWR

Animal HealthCovetrus, Inc. (ng) CVET Q MO2 H/GRW 27.02 31.00 30.13 4.04 31.4 0.75 0.86 0.96 Dec $3,445 0.0% AC, JWRElanco Animal Health Incorporated (ar) ELAN N MP3 M/GRW 30.59 NM 34.09 15.17 63.0 1.06 0.49 1.03 Dec $14,436 0.0% EWHeska Corporation (g) HSKA Q MO2 H/GRW 125.00 145.00 140.00 50.00 NM -0.20 -2.48 -1.11 Dec $1,181 0.0% AC, JWRIDEXX Laboratories, Inc. (ng) IDXX Q MP3 H/GRW 460.98 NM 485.00 168.65 74.5 4.89 6.19 7.15 Dec $39,322 0.0% AC, JWRTrupanion, Inc. (g) TRUP Q MP3 H/GRW 101.38 NM 101.69 22.48 NM -0.05 -0.09 0.00 Dec $3,607 0.0% AC, JWRZoetis Inc. (ar) ZTS N MP3 M/GRW 160.38 NM 176.64 90.14 42.2 3.64 3.80 4.14 Dec $76,224 0.5% EW

Biotechnology89bio, Inc. (g) ETNB Q SB1 H/SPEC 27.01 65.00 47.25 14.00 NM -24.49 -3.12 -3.42 Dec $537 0.0% SSACADIA Pharmaceuticals Inc. (g) ACAD Q SB1 H/SPEC 56.66 65.00 58.72 30.02 NM -1.60 -1.82 -0.96 Dec $9,008 0.0% DBAcceleron Pharma Inc. (g) XLRN Q SB1 H/GRW 118.07 155.00 124.01 46.00 NM -2.38 -2.58 -1.19 Dec $7,114 0.0% DBAdverum Biotechnologies, Inc. (cb) ADVM Q MP3 H/SPEC 13.59 NM 26.98 7.36 NM -67 -106 -119 Dec $1,325 0.0% DLAlexion Pharmaceuticals, Inc. (ng) ALXN Q MO2 H/GRW 122.11 155.00 128.57 72.67 10.0 10.53 12.21 13.13 Dec $26,724 0.0% SSAllogene Therapeutics, Inc. (cb) ALLO Q MP3 H/SPEC 31.05 NM 55.00 17.43 NM -198 -254 -305 Dec $4,356 0.0% DLAmgen Inc. (cb) AMGN Q MP3 H/GRW 222.04 NM 264.97 177.05 NM 13,363 16,033 15,892 Dec $129,265 2.9% DLApellis Pharmaceuticals, Inc. (g) APLS Q SB1 H/SPEC 47.14 78.00 49.42 16.85 NM -4.90 -4.06 -8.55 Dec $3,570 0.0% SSArcturus Therapeutics Holdings Inc. (g) ARCT Q MO2 H/SPEC 91.76 73.00 92.48 8.51 NM -2.15 -3.07 4.79 Dec $2,247 0.0% SSargenx SE (g) ARGX Q MO2 H/GRW 286.82 275.00 288.88 103.75 NM -4.22 -10.66 -10.87 Dec $13,483 0.0% DBAyala Pharmaceuticals, Inc. (cb) AYLA Q MO2 H/GRW 9.75 24.00 16.50 8.62 NM 0 -28 -35 Dec $125 0.0% DLBiogen Inc. (ng) BIIB Q MU4 H/SPEC 240.17 NM 374.99 223.25 7.2 33.57 33.38 22.12 Dec $36,957 0.0% SSbluebird bio, Inc. (cb) BLUE Q MP3 H/GRW 44.09 NM 99.36 38.95 NM -797 -610 -742 Dec $2,926 0.0% DLBlueprint Medicines Corporation (cb) BPMC Q SB1 H/GRW 108.08 122.00 109.20 43.29 NM -356 296 -373 Dec $6,023 0.0% DLBridgeBio Pharma, Inc. (cb) BBIO Q MO2 H/SPEC 50.24 50.00 51.53 14.23 NM -266 -476 -541 Dec $6,158 0.0% DLBristol Myers Squibb Company (cb) BMY N MO2 H/GRW 62.40 78.00 68.34 45.76 NM 9,875 27,886 29,082 Dec $141,008 2.9% DLChemoCentryx, Inc. (g) CCXI Q SB1 H/SPEC 55.15 100.00 65.43 27.47 NM -0.98 -0.69 -1.43 Dec $3,817 0.0% SSCRISPR Therapeutics AG (g) CRSP Q MU4 H/SPEC 126.92 NM 127.65 32.30 NM 1.17 -5.15 -6.19 Dec $8,967 0.0% SSCymaBay Therapeutics, Inc. (g) CBAY Q SB1 H/SPEC 7.50 12.00 9.06 1.21 NM -1.53 -0.71 -1.07 Dec $517 0.0% SSCytokinetics, Incorporated (cb) CYTK Q MO2 H/SPEC 16.80 24.00 30.14 8.00 NM -98 -94 -152 Dec $1,189 0.0% DLDenali Therapeutics Inc. (cb) DNLI Q MP3 H/SPEC 60.97 NM 72.00 12.39 NM -205 -239 -267 Dec $7,312 0.0% DLEditas Medicine, Inc. (g) EDIT Q MO2 H/SPEC 30.59 60.00 39.96 14.01 NM -2.68 -1.85 -4.52 Dec $1,907 0.0% SS


52 Week EPS

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FibroGen, Inc. (g) FGEN Q MU4 H/SPEC 41.31 NM 51.56 22.65 NM -0.89 -1.48 -0.86 Dec $3,760 0.0% DBG1 Therapeutics, Inc. (cb) GTHX Q MO2 H/SPEC 18.26 21.00 31.38 8.80 NM -129 -112 -181 Dec $695 0.0% DLGalapagos NV (cb, r) GLPG Q MP3 H/SPEC 122.61 NM 274.03 112.00 NM 370 -279 -477 Dec $8,011 0.0% DLGalmed Pharmaceuticals Ltd. (g) GLMD Q MO2 H/SPEC 3.85 20.00 7.38 2.96 NM -0.97 -1.15 -1.20 Dec $82 0.0% SSGilead Sciences, Inc. (ng) GILD Q MP3 H/GRW 60.67 NM 85.97 57.04 9.1 6.63 6.69 6.83 Dec $76,052 4.5% SSGlobal Blood Therapeutics, Inc. (g) GBT Q MP3 H/GRW 45.91 NM 87.54 36.49 NM -4.57 -3.93 -2.39 Dec $2,837 0.0% DBGW Pharmaceuticals plc (g) GWPH Q MP3 H/SPEC 140.08 NM 141.98 67.98 NM -0.02 -0.11 0.15 Dec $4,303 0.0% DBImmunovant, Inc. (g) IMVT Q MO2 H/SPEC 49.19 58.00 53.75 8.34 NM -1.54 -1.04 -1.05 Mar $4,815 0.0% DBInflaRx N.V. ($E, g) IFRX Q MO2 H/SPEC 4.13 15.00 9.70 2.52 NM -2.05 -1.27 -0.62 Dec $108 0.0% SSIntellia Therapeutics, Inc. (g) NTLA Q MO2 H/SPEC 39.27 39.00 40.29 9.18 NM -2.11 -2.46 -3.00 Dec $2,320 0.0% SSIntercept Pharmaceuticals, Inc. (g) ICPT Q MO2 H/SPEC 35.51 60.00 125.00 27.02 NM -10.89 -8.21 -4.07 Dec $1,171 0.0% SSJounce Therapeutics, Inc. (g) JNCE Q MP3 H/SPEC 7.15 NM 11.72 2.85 NM 1.66 -0.48 -2.17 Dec $285 0.0% SSKadmon Holdings, Inc. (g) KDMN Q MO2 H/SPEC 4.36 9.00 5.50 2.30 NM -0.48 -0.66 -0.60 Dec $748 0.0% SSLineage Cell Therapeutics Inc. (cb) LCTX N MP3 H/SPEC 1.43 NM 1.67 0.53 NM -38 -25 -26 Dec $214 0.0% DLMadrigal Pharmaceuticals, Inc. (g) MDGL Q MU4 H/SPEC 116.79 NM 137.28 56.82 NM -5.45 -12.48 -13.76 Dec $1,807 0.0% SSMirum Pharmaceuticals, Inc. (g) MIRM Q SB1 H/SPEC 23.45 52.00 28.31 7.31 NM -4.58 -3.55 -4.11 Dec $603 0.0% SSNGM Biopharmaceuticals, Inc. (g) NGM Q SB1 H/SPEC 23.70 32.00 24.54 9.24 NM -0.85 -1.48 -1.53 Dec $1,636 0.0% SSOcular Therapeutix, Inc. (cb) OCUL Q SB1 H/GRW 17.50 25.00 18.29 3.62 NM -86 -62 -48 Dec $1,249 0.0% DLPTC Therapeutics, Inc. (g) PTCT Q MO2 H/SPEC 62.57 63.00 64.62 30.79 NM -4.27 -6.47 -3.60 Dec $4,270 0.0% DBRegeneron Pharmaceuticals, Inc. (cb) REGN Q MP3 H/GRW 516.03 NM 664.64 328.12 NM 3,674 3,831 3,844 Dec $55,066 0.0% DLREGENXBIO Inc. (cb) RGNX Q MO2 H/SPEC 34.84 60.00 54.97 20.03 NM -142 -89 -124 Dec $1,303 0.0% DLSage Therapeutics, Inc. (cb) SAGE Q MP3 H/GRW 74.09 NM 154.44 25.01 NM -706 -486 537 Dec $3,856 0.0% DLSarepta Therapeutics, Inc. (g) SRPT Q MO2 H/GRW 140.86 200.00 175.00 78.06 NM -9.71 -6.42 -3.62 Dec $11,115 0.0% DBTarsus Pharmaceuticals, Inc. (cb) TARS Q SB1 H/SPEC 24.17 39.00 27.90 15.32 NM 0 -28 -58 Dec $491 0.0% DLuniQure N.V. (g) QURE Q SB1 H/SPEC 48.08 75.00 76.69 34.38 NM -3.11 -3.84 -1.43 Dec $2,140 0.0% DBVBI Vaccines Inc. (g) VBIV Q SB1 H/SPEC 3.42 9.00 6.93 0.69 NM -0.46 -0.21 -0.23 Dec $829 0.0% SSViking Therapeutics, Inc. (g) VKTX Q SB1 H/SPEC 6.43 27.00 8.87 3.26 NM -0.36 -0.55 -0.84 Dec $469 0.0% SSVoyager Therapeutics, Inc. (cb) VYGR Q MO2 H/GRW 8.32 17.00 15.26 6.26 NM -49 53 -70 Dec $312 0.0% DLXencor, Inc. (cb) XNCR Q MP3 H/GRW 42.32 NM 43.90 19.35 NM 18 -102 -160 Dec $2,432 0.0% DLZogenix, Inc. (g) ZGNX Q MP3 H/SPEC 21.43 NM 57.22 16.65 NM -9.74 -3.59 -3.06 Dec $1,193 0.0% DB

Death CareService Corporation International (fc) SCI N MO2 H/GRW 48.64 53.00 52.99 33.93 16.6 2.13 2.93 2.65 Dec $8,402 1.7% JWR

Diagnostics & Clinical LaboratoriesCareDx, Inc. (ng) CDNA Q SB1 H/GRW 57.17 62.00 62.50 13.04 NM 0.10 0.19 0.32 Dec $2,816 0.0% AC, LKGenMark Diagnostics, Inc. (g) GNMK Q MP3 H/GRW 13.37 NM 20.88 3.36 NM -0.82 -0.24 -0.04 Dec $959 0.0% AC, LKNeoGenomics, Inc. (ng) NEO Q MO2 H/GRW 47.58 48.00 47.94 20.47 NM 0.31 0.07 0.30 Dec $5,283 0.0% AC, LKOraSure Technologies, Inc. (g) OSUR Q MO2 H/GRW 12.00 16.00 19.75 5.23 NM 0.27 -0.21 2.93 Dec $859 0.0% AC, LKProgenity, Inc. (g) PROG Q MO2 H/SPEC 4.01 10.00 15.92 3.64 NM -5.49 -4.45 -3.31 Dec $188 0.0% AC, LKQuidel Corporation (ng) QDEL Q MP3 H/GRW 195.05 NM 306.72 67.06 10.0 2.97 19.43 53.44 Dec $8,206 0.0% AC, LK

Healthcare Information TechnologyChange Healthcare Inc. (ng) CHNG Q SB1 M/GRW 17.13 22.50 18.21 6.18 13.4 1.62 1.53A 1.28 Mar $5,215 0.0% JWRHealth Catalyst, Inc. (ar) HCAT Q SB1 M/GRW 35.65 44.00 41.26 17.48 NM -0.93 -0.69 -0.35 Dec $1,515 0.0% JWRHealthStream, Inc. (ar) HSTM Q MP3 M/GRW 18.68 NM 29.78 17.95 38.7 0.44 0.48 0.14 Dec $592 0.0% JWRPhreesia, Inc. (g) PHR N MO2 M/GRW 44.16 36.00 44.38 16.01 NM -24.53 -4.53A -0.65 Jan $1,894 0.0% JWR


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Simulations Plus, Inc. (cb) SLP Q MO2 M/GRW 55.97 95.00 77.89 26.00 3.4 13 15A 16 Sep $1,115 0.4% DL

Healthcare Supply Chain ServicesAmerisourceBergen Corporation (ng) ABC N MP3 M/GRW 103.11 NM 111.25 72.06 12.3 7.09 7.92A 8.40 Sep $21,060 1.7% JWRCardinal Health, Inc. (ng) CAH N MP3 M/GRW 54.59 NM 60.69 39.05 9.2 5.28 5.46A 5.92 Jun $16,018 3.6% JWRMcKesson Corporation (ng) MCK N MP3 M/GRW 179.91 NM 187.67 112.60 11.2 13.57 14.95A 16.03 Mar $28,886 0.9% JWRPremier, Inc. (ng) PINC Q MO2 H/GRW 35.42 37.00 39.70 27.11 16.1 2.66 2.73A 2.20 Jun $6,103 2.1% JWRWalgreens Boots Alliance, Inc. (ce) WBA Q MP3 M/GRW 38.01 NM 59.92 33.36 7.9 5.99 4.74A 4.83 Aug $32,914 4.9% JWR

HospitalsCommunity Health Systems, Inc. (ng) CYH N MP3 H/SPEC 8.18 NM 11.04 2.25 NM -0.89 -0.47 -0.61 Dec $978 0.0% JWRHCA Healthcare, Inc. (ng) HCA N MO2 H/GRW 150.11 150.00 155.84 58.38 13.0 10.50 11.53 10.70 Dec $50,793 0.0% JWRTenet Healthcare Corporation (ng) THC N MO2 H/GRW 31.43 43.00 39.37 10.00 6.9 2.68 4.57 2.49 Dec $3,316 0.0% JWRUniversal Health Services, Inc. (ng) UHS N MP3 M/GRW 130.58 NM 148.27 65.20 12.7 9.99 10.29 9.98 Dec $11,097 0.0% JWR

Hospital Supplies & EquipmentAvanos Medical, Inc. (ar) AVNS N MP3 H/GRW 42.39 NM 44.85 19.46 58.5 1.07 0.72 1.18 Dec $2,028 0.0% LK, ACAvantor, Inc. (ar) AVTR N MO2 H/GRW 27.28 27.00 28.98 6.66 32.2 0.58 0.85 1.05 Dec $15,777 0.0% LK, ACBaxter International Inc. (ar) BAX N MO2 M/GRW 76.07 88.00 95.19 69.10 25.0 3.31 3.05 3.42 Dec $38,858 1.3% LK, ACBecton, Dickinson and Company (ar) BDX N MO2 M/GRW 234.84 270.00 286.72 197.75 18.8 11.68 10.19A 12.50 Sep $68,111 1.4% LK, ACCantel Medical Corp. (ar) CMD N MP3 H/GRW 59.43 NM 79.50 20.81 40.1 2.37 1.65A 1.48 Jul $2,510 0.0% LK, ACHaemonetics Corporation (ar) HAE N MO2 H/GRW 112.85 130.00 126.74 63.41 48.0 2.40 3.31A 2.35 Mar $5,731 0.0% LK, ACHill-Rom Holdings, Inc. (ar) HRC N MO2 M/GRW 94.86 107.00 117.68 72.29 17.7 5.08 5.53A 5.35 Sep $6,338 0.9% LK, ACIntuitive Surgical, Inc. (ar) ISRG Q MO2 H/GRW 726.05 800.00 792.54 360.50 75.2 12.76 9.66 13.04 Dec $85,354 0.0% LK, ACMasimo Corporation (ce) MASI Q MO2 H/GRW 254.49 275.00 259.29 143.90 73.6 3.22 3.46 3.73 Dec $14,012 0.0% LK, ACStericycle, Inc. (ce) SRCL Q MP3 M/GRW 70.44 NM 79.50 38.45 30.0 2.65 2.35 3.02 Dec $6,449 0.0% LK, ACSTERIS plc (ce) STE N MP3 M/GRW 193.81 NM 196.80 105.69 31.6 4.88 5.64A 6.13 Mar $16,536 0.8% LK, ACStryker Corporation (ar) SYK N MO2 M/GRW 233.40 240.00 242.51 124.54 32.2 8.26 7.26 9.07 Dec $87,709 1.0% LK, ACTeleflex Incorporated (ar) TFX N SB1 M/GRW 382.75 400.00 409.27 221.27 36.8 11.15 10.41 12.90 Dec $17,825 0.4% LK, ACThe Cooper Companies, Inc. (ar) COO N MO2 H/GRW 335.22 375.00 371.59 236.68 35.0 12.35 9.58 13.23 Oct $17,881 0.0% LK, ACTransEnterix, Inc. (ce) TRXC N MP3 H/SPEC 0.47 NM 2.69 0.28 NM -4.22 -0.66 -0.57 Dec $47 0.0% LK, ACZimmer Biomet Holdings, Inc. (ar) ZBH N SB1 H/GRW 149.12 170.00 165.15 74.37 25.7 7.87 5.80 8.00 Dec $30,910 0.6% LK, AC

Integrated Benefits ManagementCigna Corporation (ng) CI N SB1 M/GRW 209.14 250.00 224.96 118.50 11.2 17.04 18.72 20.84 Dec $75,556 0.0% JWRCVS Health Corporation (ng) CVS N SB1 M/GRW 67.79 90.00 76.44 52.04 9.1 7.08 7.44 7.50 Dec $88,731 3.0% JWRUnitedHealth Group Incorporated (ng) UNH N SB1 M/GRW 336.34 355.00 367.95 187.72 20.1 15.11 16.74 17.00 Dec $319,126 1.5% JWR

Medical DevicesAbbott Laboratories (ng) ABT N MO2 M/GRW 108.22 114.00 115.14 61.61 30.4 3.24 3.56 4.40 Dec $191,805 1.3% JBAbiomed, Inc. (g) ABMD Q MP3 H/GRW 274.10 NM 319.19 119.01 57.0 5.61 4.43A 4.81 Mar $12,387 0.0% JBAngioDynamics, Inc. (ng) ANGO Q SB1 H/GRW 14.22 18.00 17.24 7.48 NM 0.22 0.09A 0.01 May $540 0.0% JBBioTelemetry, Inc. (ng) BEAT Q MP3 M/GRW 55.41 NM 56.00 27.35 32.7 1.95 1.69 2.03 Dec $1,898 0.0% JBBoston Scientific Corporation (ng) BSX N SB1 H/GRW 33.15 40.00 46.62 24.10 31.0 1.58 1.07 1.58 Dec $47,468 0.0% JBBrainsway Ltd. (g, r) BWAY Q MO2 H/SPEC 6.47 9.00 12.53 5.10 NM -0.50 -0.28 -0.37 Dec $72 0.0% JBCardiovascular Systems, Inc. (ng) CSII Q MP3 H/GRW 34.46 NM 55.22 26.00 NM -0.01 -0.79A 0.01 Jun $1,383 0.0% JBDexCom, Inc. (ng) DXCM Q MO2 H/GRW 319.68 438.00 456.23 182.07 NM 1.84 3.08 2.77 Dec $30,699 0.0% JBEdwards Lifesciences Corporation (ng) EW N MO2 M/GRW 83.89 90.00 88.00 51.51 44.2 1.86 1.90 2.20 Dec $52,284 0.0% JB


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Healthcare - USA

Hologic, Inc. (ng) HOLX Q MO2 M/GRW 69.13 86.00 77.49 26.49 9.2 2.43 3.98A 7.55 Sep $17,767 0.0% JBICU Medical, Inc. (ng) ICUI Q MO2 H/GRW 188.70 210.00 236.50 158.01 27.8 8.17 6.80 6.81 Dec $3,959 0.0% JBInsulet Corporation (g) PODD Q MO2 H/GRW 257.71 250.00 269.42 121.00 NM 0.19 0.28 0.86 Dec $16,991 0.0% JBIntegra LifeSciences Corp. (ng) IART Q MP3 H/GRW 54.73 NM 63.23 34.21 23.6 2.74 2.32 2.78 Dec $4,612 0.0% JBJohnson & Johnson (ng) JNJ N MO2 M/INC 144.68 158.00 157.00 109.16 18.2 8.68 7.97 8.77 Dec $380,876 2.8% JBMedtronic plc (ng) MDT N MO2 M/GRW 113.70 122.00 122.15 72.13 27.3 5.22 4.59A 4.17 Apr $152,989 2.0% JBMerit Medical Systems, Inc. (ng) MMSI Q MO2 H/GRW 55.07 60.00 56.11 25.18 35.6 1.46 1.55 1.74 Dec $3,059 0.0% JBNatus Medical Incorporated (ng) NTUS Q MP3 H/GRW 20.92 NM 34.67 16.38 84.5 1.24 0.25 1.13 Dec $709 0.0% JBSenseonics Holdings, Inc. (g) SENS N MP3 H/SPEC 0.37 NM 1.78 0.35 NM -0.61 -0.38 -0.19 Dec $91 0.0% JBTandem Diabetes Care, Inc. (g) TNDM Q MO2 H/GRW 93.88 124.00 123.74 43.69 NM -0.42 -0.67 -0.41 Dec $5,838 0.0% JB

Specialty PharmaceuticalsAdamis Pharmaceuticals Corporation (g) ADMP Q MP3 H/SPEC 0.43 NM 1.51 0.27 NM -0.55 -0.44 -0.20 Dec $41 0.0% EWADMA Biologics, Inc. (g) ADMA Q MO2 H/GRW 2.02 7.00 4.79 1.45 NM -0.89 -0.85 -0.41 Dec $191 0.0% EWAerie Pharmaceuticals, Inc. (ar) AERI Q MP3 H/SPEC 12.41 NM 26.26 9.01 NM -3.40 -2.99 -2.50 Dec $581 0.0% EWAmneal Pharmaceuticals Inc. (ar) AMRX N MP3 H/GRW 3.95 NM 5.79 2.40 6.3 0.35 0.63 0.73 Dec $1,184 0.0% EWAmphastar Pharmaceuticals, Inc. (ar) AMPH Q MP3 H/GRW 17.76 NM 22.69 12.32 33.8 0.36 0.53 0.79 Dec $844 0.0% EWANI Pharmaceuticals, Inc. (ar) ANIP Q MO2 H/GRW 29.56 40.00 68.19 23.55 8.0 5.06 3.70 4.65 Dec $366 0.0% EWAntares Pharma, Inc. (g) ATRS Q SB1 H/SPEC 3.12 6.00 5.13 1.60 74.2 -0.01 0.04 0.24 Dec $520 0.0% EWEndo International plc (ar) ENDP Q MP3 H/GRW 5.08 NM 7.10 2.08 2.0 2.45 2.55 2.63 Dec $1,170 0.0% EWFlexion Therapeutics, Inc. (g) FLXN Q SB1 H/GRW 10.71 18.00 22.98 5.01 NM -3.93 -2.51 -2.03 Dec $528 0.0% EWLannett Company, Inc. (ar) LCI N MP3 H/GRW 6.16 NM 10.34 4.89 10.4 2.28 1.09A 0.59 Jun $256 0.0% EWMallinckrodt plc (ar) MNKKQ O MP3 M/GRW 0.24 NM 6.42 0.07 NM 8.95 6.29 4.87 Dec $21 0.0% EWPerrigo Company PLC (ar) PRGO N MP3 M/GRW 48.22 NM 63.86 40.01 11.6 4.02 4.15 4.48 Dec $6,582 1.9% EWPLx Pharma Inc. (g) PLXP Q MP3 H/SPEC 5.99 NM 6.42 1.80 NM -3.84 -1.27 -0.94 Dec $55 0.0% EWPolyPid Ltd. (g) PYPD Q SB1 H/SPEC 11.89 23.00 19.45 8.64 NM -1.13 -1.97 -2.33 Dec $220 0.0% EWSol-Gel Technologies Ltd. (g) SLGL Q SB1 H/SPEC 9.00 23.00 21.00 5.00 NM -1.26 -1.40 -1.87 Dec $207 0.0% EWTeva Pharmaceutical Industries Ltd. (ar, r) TEVA N MO2 M/GRW 9.51 15.00 13.76 6.25 3.8 2.40 2.52 2.74 Dec $10,423 0.0% EWViatris Inc. (ar) VTRS Q MO2 H/GRW 16.82 27.00 23.11 12.75 3.6 4.42 4.66 4.77 Dec $20,712 0.0% EW


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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 MP3 H/SPEC C$2.70 4.25 5.00 1.87 10.2 0 0 7 Dec C$89 0.0% RSCatalyst Biosciences, Inc. CBIO Q MO2 H/SPEC 6.20 20.00 8.94 3.43 NM -4.60 -2.43 -3.27 Dec $137 0.0% DN, DLIMV Inc. IMV Q MP3 H/SPEC 3.88 3.00 6.82 1.35 NM -0.55 -0.53 -0.57 Dec $260 0.0% DNLeap Therapeutics, Inc. LPTX Q MO2 H/SPEC 1.60 2.50 3.18 0.69 NM -1.47 -0.38 -0.52 Dec $95 0.0% DN, DLPerimeter Medical Imaging AI Inc. PINK V MO2 H/GRW C$2.49 3.00 2.56 1.46 NM -7 -6 -4 Dec C$97 0.0% RSProfound Medical Corp. (re) PRN T SB1 H/SPEC C$25.99 43.00 27.50 9.51 2.7 6 10 27 Dec C$510 0.0% RSZiopharm Oncology, Inc. ZIOP Q MO2 H/SPEC 2.80 5.50 5.61 1.79 NM -0.70 -0.37 -0.45 Dec $600 0.0% DN, DLZymeworks Inc. ZYME N SB1 H/SPEC 52.65 60.00 53.17 20.33 NM -3.83 -4.37 -4.82 Dec $2,413 0.0% DN

CannabisAuxly Cannabis Group Inc. (can) XLY V MP3 H/SPEC C$0.31 0.40 0.76 0.12 NM 8 37 60 Dec C$199 0.0% RSAvicanna Inc. (can, re) AVCN T MO2 H/SPEC C$0.84 2.50 3.00 0.66 NM 0 3 10 Dec C$24 0.0% RSCronos Group Inc. (re) CRON Q MO2 H/SPEC 8.85 11.00 9.00 4.00 NM 24 44 86 Dec $3,152 0.0% RSOrganiGram Holdings Inc. OGI T MP3 H/SPEC C$1.84 3.00 4.74 1.35 NM 80 85 87 Aug C$427 0.0% RSThe Valens Company (can) VLNS T MP3 H/SPEC C$2.00 3.50 4.10 1.44 NM 58 90 104 Nov C$257 0.0% RSVillage Farms International Inc. VFF Q SB1 H/SPEC 11.36 20.00 11.59 2.07 NM 145 173 288 Dec $750 0.0% RS

PharmaceuticalsBioSyent, Inc. RX V MP3 H/SPEC C$6.93 7.00 7.50 3.13 22.7 0.31 0.31 0.38 Dec C$90 0.0% DNKnight Therapeutics Inc. GUD T MO2 H/SPEC C$5.51 8.00 8.12 4.73 19.9 0.10 0.28 -0.04 Dec C$717 0.0% DN

(can) Not for distribution to US Persons, other than Institutional Accounts (as defined in FINRA Rule 4512(c)). Prior to making any decision to invest in a company involved in the cultivation, possession or distributionof cannabis products, investors should seek their own legal advice and be aware of any legal considerations relevant to making, maintaining or divesting such investment.


Industrial

USAConstruction Materials ..................................................................................................... 44Machinery ..................................................................................................................... 44

Specialty Vehicles ........................................................................................................ 44Truck Equipment ......................................................................................................... 44

Specialty/Industrial Distribution ........................................................................................ 44Waste and Industrial Services ............................................................................................ 44

Industrial Services ....................................................................................................... 44Waste Services ............................................................................................................ 44

CANAerospace & Aviation ....................................................................................................... 45Agribusiness .................................................................................................................. 45Chemicals ..................................................................................................................... 45Diversified Income Corps. ................................................................................................. 45Fertilizers ...................................................................................................................... 45Forest Products .............................................................................................................. 45

Building Materials ........................................................................................................ 45Pulp & Paper .............................................................................................................. 45

Infrastructure & Construction ............................................................................................ 45Construction .............................................................................................................. 45Engineering ................................................................................................................ 46Machinery .................................................................................................................. 46Related Products and Services ....................................................................................... 46

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


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

Joshua Wilson, CFA [email protected]

Construction MaterialsConstruction Partners, Inc. (ae) ROAD Q MO2 M/GRW 26.30 21.50 27.38 11.96 NM 92 93 100 Sep $1,374 0.0% JW, SDDIRTT Environmental Solutions Ltd. (ae) DRTT Q MO2 H/GRW 1.67 2.00 3.48 0.71 NM 18 -8 -2 Dec $141 0.0% JW, SDEagle Materials Inc. (ng) EXP N MO2 M/GRW 90.99 100.00 97.79 41.83 14.4 5.04 5.68A 6.30 Mar $3,805 0.0% JW, SDTecnoglass Inc. (ae) TGLS Q MO2 H/GRW 5.86 7.00 8.50 2.15 NM 92 96 93 Dec $279 1.9% JW, SD

MachinerySpecialty VehiclesOshkosh Corporation (ng) OSK N MO2 M/GRW 80.50 78.00 95.62 46.72 15.9 8.31 4.94A 5.05 Sep $5,489 1.6% FB, TBTruck EquipmentAllison Transmission Holdings, Inc. (ng) ALSN N SB1 M/GRW 41.05 47.00 49.73 26.15 14.7 4.91 2.79 4.06 Dec $4,625 1.7% FB, TBCummins Inc. (ng) CMI N MP3 M/INC 231.17 NM 244.67 101.03 19.9 15.05 11.60 13.20 Dec $34,215 2.3% FB, TBNavistar International Corporation (ng) NAV N MP3 M/GRW 44.26 NM 45.25 15.01 NM 4.24 -0.52 1.69 Oct $4,407 0.0% FB, TBPACCAR Inc (ng) PCAR Q SB1 M/GRW 87.06 105.00 95.82 49.11 23.5 6.87 3.71 5.45 Dec $30,161 1.5% FB, TBWabash National Corporation (ng) WNC N SB1 M/GRW 17.68 20.00 18.70 6.26 NM 1.62 -0.01 0.85 Dec $936 1.8% FB, TB

Specialty/Industrial DistributionBeacon Building Products (ng) BECN Q MP3 H/GRW 36.39 NM 38.89 11.66 12.8 2.26 2.40A 2.85 Sep $2,511 0.0% SD, JWFastenal Company (ng) FAST Q MU4 M/GRW 49.45 NM 49.86 26.71 33.7 1.38 1.47 1.51 Dec $28,387 2.0% SD, JWFoundation Building Materials, Inc. (ng) FBM N MP3 H/GRW 19.24 NM 21.62 7.99 19.9 1.10 0.97 1.30 Dec $831 0.0% SD, JWGMS Inc. (ng) GMS N MP3 H/GRW 31.23 NM 34.57 10.39 10.5 2.80 2.97A 2.98 Apr $1,335 0.0% SD, JWHD Supply Holdings, Inc. (f, ng) HDS Q MP3 H/GRW 55.78 NM 55.96 21.69 26.4 2.76 2.11 1.97 Jan $9,046 0.0% SD, JWLKQ Corporation (ng) LKQ Q MP3 H/GRW 35.22 NM 38.38 13.31 14.1 2.37 2.50 2.85 Dec $10,719 0.0% SD, JWMSC Industrial Direct Co., Inc. (ng) MSM N MP3 M/GRW 83.32 NM 87.83 44.93 18.5 5.29 4.74A 4.50 Aug $4,633 3.6% SD, JWW.W. Grainger, Inc. (ng) GWW N MO2 M/GRW 418.30 400.00 424.08 200.61 25.4 17.29 16.45 18.00 Dec $22,450 1.5% SD, JWWESCO International, Inc. (ng) WCC N SB1 H/GRW 65.22 80.00 68.16 13.52 12.6 5.20 5.17 6.25 Dec $3,264 0.0% SD, JW

Waste and Industrial ServicesIndustrial ServicesClean Harbors, Inc. (ng) CLH N MO2 M/GRW 72.37 85.00 88.40 29.45 35.6 1.89 2.03 1.99 Dec $3,998 0.0% TBWaste ServicesCasella Waste Systems, Inc. (ng) CWST Q SB1 H/GRW 60.18 63.00 61.77 34.35 74.1 0.85 0.81 0.96 Dec $3,073 0.0% TBCovanta Holding Corporation (ng) CVA N MP3 H/INC 12.40 NM 16.13 6.57 NM 0.08 -0.21 -0.05 Dec $1,637 2.6% TBGFL Environmental Inc. (ng) GFL N MO2 M/GRW 27.13 26.00 28.60 11.92 NM NA -0.04 -0.41 Dec $8,854 0.1% TBRepublic Services, Inc. (ng) RSG N MO2 M/GRW 96.72 102.00 103.79 65.37 28.7 3.34 3.37 3.67 Dec $30,827 1.8% TBUS Ecology, Inc. (ng) ECOL Q MP3 H/GRW 33.89 NM 58.36 24.94 79.7 1.96 0.43 0.82 Dec $1,068 0.0% TBWaste Connections, Inc. (ng) WCN N SB1 H/GRW 103.98 115.00 111.04 70.87 40.6 2.72 2.56 2.87 Dec $27,336 1.0% TBWaste Management, Inc. (ng) WM N MO2 M/INC 119.13 120.00 126.79 85.34 30.5 4.40 3.90 4.57 Dec $50,346 1.8% TB


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

Michael Glen, CFA [email protected] Hansen, CFA, CPA, CMA [email protected] Quezada, CFA [email protected] Swetlishoff, CFA [email protected]

Aerospace & AviationCargojet Inc. CJT T MP3 H/GRW C$222.17 190.00 250.01 67.87 48.8 0.98 4.55 2.70 Dec C$3,466 0.4% SHHeroux-Devtek Inc. (f) HRX T MP3 H/GRW C$14.46 12.50 21.64 8.56 26.4 0.84 1.00A 0.55 Mar C$526 0.0% BF

AgribusinessAg Growth International, Inc. AFN T MP3 H/INC C$31.21 38.00 48.07 15.00 12.4 2.20 2.52 2.54 Dec C$584 1.9% SHCubicFarm Systems Corp. CUB V SB1 H/GRW C$1.06 2.00 1.24 0.12 NM -0.11 -0.11 -0.04 Jun C$89 0.0% SHEnWave Corporation ENW V MO2 H/GRW C$1.06 1.20 1.87 0.56 NM -0.01 -0.05 -0.01 Dec C$118 0.0% SH

ChemicalsChemtrade Logistics Income Fund CHE.UN T MP3 H/INC C$5.00 9.00 11.45 3.26 NM -1.08 -1.19 -0.20 Dec C$463 12.0% SHMethanex MEOH Q MO2 H/GRW 41.80 45.00 42.32 9.00 NM 1.23 -1.85 0.29 Dec $3,185 0.4% SHParkland Fuel Corporation (ae) PKI T SB1 H/GRW C$39.78 50.00 49.22 17.57 NM 1,265 1,019 1,290 Dec C$5,956 3.0% SHSuperior Plus Corp. (cb) SPB T MO2 M/INC C$12.16 13.50 13.04 5.97 NM 524 507 529 Dec C$2,141 5.9% SH

Diversified Income Corps.Exchange Income Corporation EIF T SB1 H/INC C$38.70 45.00 46.10 12.57 33.8 2.97 1.14 2.42 Dec C$1,365 5.9% SH

FertilizersItafos IFOS V MP3 H/SPEC C$0.32 0.75 0.67 0.20 NM -1.01 -0.29 -0.16 Dec C$59 0.0% SHNutrien Ltd. NTR N SB1 M/GRW 49.27 55.00 49.77 23.85 27.2 2.11 1.81 2.28 Dec $28,042 4.9% SH

Forest ProductsBuilding MaterialsAcadian Timber Corp. ADN T MO2 M/INC C$15.74 18.00 18.62 11.11 25.8 1.04 0.61 1.02 Dec C$263 7.4% DSCanfor Corp. CFP T MO2 H/GRW C$19.00 26.50 20.31 6.11 6.6 -2.10 2.87 1.68 Dec C$2,379 0.0% DSConifex Timber Inc. CFF T MO2 H/SPEC C$1.54 1.75 1.80 0.25 NM -4.25 -0.06 0.03 Dec C$72 0.0% DSInterfor Corporation IFP T SB1 H/GRW C$19.52 26.00 20.56 4.75 5.5 -1.54 3.58 1.78 Dec C$1,313 0.0% DSNorbord Inc. OSB T MP3 H/GRW C$48.69 50.00 51.07 13.01 8.4 -0.51 5.80 4.08 Dec C$3,927 2.8% DSWestern Forest Products Inc. WEF T MO2 H/GRW C$0.96 1.40 1.41 0.58 83.8 -0.12 0.01 0.13 Dec C$360 0.0% DSWest Fraser Timber Co. Ltd. WFT T MO2 H/GRW C$71.91 95.00 76.14 21.60 7.1 -2.34 10.09 8.55 Dec C$4,939 1.1% DSPulp & PaperCanfor Pulp Products Inc. CFX T MO2 H/GRW C$5.85 8.00 10.13 4.01 NM -0.47 -0.39 0.26 Dec C$382 0.0% DSDomtar Corporation UFS N MP3 H/INC 30.10 28.00 40.05 18.40 NM 1.29 -1.46 0.94 Dec $1,686 0.0% DSMercer International Inc. MERC Q MO2 H/INC 8.19 11.00 13.44 5.77 NM -0.15 -0.05 0.46 Dec $539 3.2% DS

Infrastructure & ConstructionConstructionAecon Group ARE T SB1 M/INC C$16.28 22.00 18.50 10.94 14.4 1.12 1.13 1.15 Dec C$975 3.9% FBBird Construction Inc. BDT T SB1 H/INC C$7.23 11.00 7.48 3.96 10.4 0.22 0.70 0.85 Dec C$383 5.4% FBNorth American Construction Group NOA T MP3 H/GRW C$13.28 10.00 16.25 5.81 8.0 1.72 1.65 1.80 Dec C$411 1.2% BF


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EngineeringIBI Group Inc. IBG T MO2 H/GRW C$7.20 9.00 7.46 2.79 12.1 0.58 0.60 0.65 Dec C$225 0.0% FBSNC-Lavalin Group Inc. SNC T MP3 H/GRW C$23.84 23.00 34.36 17.50 NM -0.40 -0.32 1.60 Dec C$4,185 0.3% FBStantec Inc. STN T MO2 M/INC C$39.14 47.00 44.85 31.00 19.4 2.02 2.02 2.10 Dec C$4,388 1.6% FBWSP Global Inc. WSP T MO2 M/INC C$96.45 105.00 98.12 59.83 32.1 2.97 3.00 3.70 Dec C$10,949 1.6% FBMachineryAlta Equipment Group Inc. ALTG N MP3 H/GRW 9.06 9.00 10.80 3.59 NM NA -0.68 0.60 Dec $272 0.0% BFCervus Equipment Corp. CERV T MO2 H/GRW C$12.03 12.00 12.03 4.73 10.2 -0.65 1.18 1.20 Dec C$185 0.5% BFFinning International FTT T MO2 M/GRW C$26.50 24.00 26.55 10.59 23.9 1.65 1.11 1.35 Dec C$4,296 3.1% BFRitchie Bros. Auctioneers RBA N MP3 M/INC 71.81 75.00 78.64 25.92 44.9 1.33 1.60 1.75 Dec $7,856 1.2% BFRocky Mountain Dealerships Inc. RME T MO2 H/INC C$7.15 8.50 7.24 3.32 15.7 0.03 0.45 0.55 Dec C$138 0.8% BFToromont Industries Ltd. TIH T MO2 M/GRW C$88.84 91.50 93.39 52.36 28.6 3.49 3.10 3.65 Dec C$7,307 1.4% BFWajax Corporation WJX T MP3 H/GRW C$17.00 14.50 17.88 4.90 10.2 2.05 1.67 1.60 Dec C$343 5.9% BFRelated Products and ServicesBlack Diamond Group Limited (cb) BDI T MO2 H/INC C$1.76 2.75 2.20 0.90 NM 39 40 56 Dec C$100 0.0% FBHorizon North Logistics Inc. (cb) HNL T MP3 H/INC C$5.95 5.50 6.50 1.27 NM 20 76 67 Dec C$386 5.0% FBRussel Metals Inc. RUS T MO2 M/INC C$20.81 21.00 23.00 10.97 25.9 1.23 0.80 1.70 Dec C$1,294 7.3% FB

Special SituationsBallard Power Systems Inc. BLDP Q MO2 H/GRW 20.53 28.00 21.70 5.50 NM 106 105 117 Dec $5,787 0.0% MGBlackline Safety Corp. BLN V MO2 H/GRW C$7.39 8.75 7.50 3.53 NM -0.21 -0.15 0.07 Oct C$357 0.0% BFBoyd Group Services Inc. BYD T SB1 H/GRW C$211.84 250.00 231.52 125.01 85.4 5.06 2.48 5.29 Dec C$4,548 0.3% SHNanoXplore Inc. (cb) GRA V MO2 H/SPEC C$3.50 4.00 4.15 0.90 1.4 -5.70 -2.42A 2.42 Jun C$492 0.0% MGNeo Performance Materials Inc. NEO T MP3 H/GRW C$12.68 12.00 12.80 5.55 NM 0.60 0.00 0.45 Dec C$476 3.2% FB


Mining and Natural Resources

CANMining .......................................................................................................................... 48

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


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Bryan Fast, CFA [email protected] Hamed, CA [email protected] Hansen, CFA, CPA, CMA [email protected]

Brian MacArthur, CFA [email protected] Stanley, M.Sc. Geo [email protected] Swetlishoff, CFA [email protected]

MiningBase Metals & MineralsAdventus Mining Corp. ADZN V MO2 H/GRW C$0.90 2.00 1.60 0.52 NM -0.05 -0.03 -0.06 Dec C$118 0.0% FHAltius Minerals Corporation ALS T MO2 H/GRW C$11.38 14.50 12.32 6.29 34.5 0.60 0.33 0.49 Dec C$472 1.8% BMaEro Copper Corp. ERO T MO2 H/GRW C$22.28 24.00 23.93 8.40 20.1 0.96 1.11 0.97 Dec C$1,926 0.0% FHFirst Quantum Minerals Ltd. FM T MP3 H/GRW C$18.43 19.00 18.62 4.71 NM 0.29 -0.04 0.89 Dec C$12,706 0.1% FHFreeport-McMoRan Inc. FCX N MP3 H/GRW 23.39 19.00 24.08 4.82 NM -0.04 0.20 1.37 Dec $33,983 0.0% BMaHudbay Minerals, Inc. HBM T MP3 H/GRW C$8.22 7.00 8.57 1.66 NM -1.41 -0.46 0.04 Dec C$2,148 0.2% FHIvanhoe Mines Ltd. IVN T MO2 H/GRW C$6.08 7.50 6.12 1.80 NM 0.01 -0.03 0.05 Dec C$7,319 0.0% FHLundin Mining Corporation LUN T MP3 H/GRW C$10.38 9.00 10.44 4.08 51.6 0.23 0.20 0.34 Dec C$7,616 1.5% FHTeck Resources Limited TECK.B T MO2 H/GRW C$20.52 23.50 23.20 8.15 21.6 2.69 0.95 1.92 Dec C$10,897 1.0% BMaTrevali Mining Corporation TV T MP3 H/SPEC C$0.19 0.15 0.26 0.06 NM -0.03 -0.04 -0.02 Dec C$152 0.0% BMaTrilogy Metals Inc. TMQ T MO2 H/SPEC C$2.50 3.75 3.61 1.50 2.2 -0.21 1.14 -0.07 Nov C$358 0.0% BMaIron OreChampion Iron Limited CIA T MO2 H/GRW C$4.33 4.50 4.58 0.96 6.4 0.18 0.36A 0.68 Mar C$2,049 0.0% BMaLabrador Iron Ore Royalty Corp. LIF T MO2 M/INC C$26.29 32.00 28.95 13.25 8.0 3.21 3.30 3.18 Dec C$1,683 3.8% BMaPrecious Metals - GoldAgnico Eagle Mines AEM N MO2 M/GRW 65.87 95.00 89.23 31.00 32.4 0.96 2.03 3.96 Dec $15,962 2.1% FHAscot Resources AOT T SB1 H/SPEC C$1.10 1.75 1.40 0.37 NM -0.04 -0.03 -0.01 Dec C$303 0.0% CSB2Gold Corp. (cf) BTG N MO2 H/GRW 5.58 8.50 7.55 2.16 5.9 0.48 0.94 0.82 Dec $5,859 3.8% FHBarrick Gold Corporation GOLD N MO2 M/GRW 23.14 38.00 31.22 12.65 20.1 0.51 1.15 1.50 Dec $41,145 1.6% BMaCalibre Mining Corp. CXB T SB1 H/GRW C$2.36 3.25 2.80 0.46 9.7 -0.01 0.24 0.45 Dec C$779 0.0% FHCenterra Gold Inc. CG T MO2 H/GRW C$12.68 19.00 19.59 5.52 8.6 0.62 1.48 2.42 Dec C$3,750 1.6% BMaCoeur Mining, Inc. CDE N MP3 H/SPEC 7.09 9.50 9.25 1.98 33.8 -0.25 0.21 0.67 Dec $1,728 0.0% BMaFranco-Nevada Corporation FNV N MO2 M/GRW 133.04 176.00 166.11 77.18 50.4 1.82 2.64 3.13 Dec $25,388 1.0% BMaIAMGOLD Corporation IAG N MP3 H/GRW 3.37 6.00 5.35 1.44 13.2 -0.13 0.26 0.56 Dec $1,595 0.0% FHIntegra Resources Corp. ITR V MO2 H/SPEC C$4.35 8.00 5.90 1.52 NM -0.64 -0.39 -0.38 Dec C$238 0.0% BMaINV Metals Inc. INV T MO2 H/SPEC C$0.40 1.75 1.11 0.17 NM -0.03 -0.04 -0.03 Dec C$55 0.0% CSK92 Mining Inc. KNT V MO2 H/GRW C$7.83 10.00 8.50 1.55 33.4 0.16 0.23 0.52 Dec C$1,668 0.0% CSKinross Gold Corporation KGC N MO2 H/GRW 7.14 14.00 10.31 2.72 9.6 0.29 0.74 1.16 Dec $8,984 0.8% FHLumina Gold Corp. (cf) LUM V MO2 H/GRW C$0.76 1.75 1.19 0.46 NM -0.05 -0.02 -0.02 Dec C$253 0.0% FHMarathon Gold Corp. MOZ T MO2 H/SPEC C$2.63 2.85 2.64 0.71 NM -0.03 -0.02 -0.02 Dec C$548 0.0% CSMaverix Metals Inc. MMX T MO2 H/GRW C$6.65 8.50 7.78 3.10 66.5 0.06 0.10 0.15 Sep C$934 0.6% BMaMontage Gold Corp. MAU V SB1 H/SPEC C$0.85 2.00 1.27 0.75 NM -0.14 -0.04 -0.02 Dec C$89 0.0% CSNewcore Gold Ltd. NCAU V SB1 H/SPEC C$0.70 1.60 0.92 0.14 NM -0.00 -0.01 -0.00 Dec C$56 0.0% CSNew Gold Inc. NGD N MP3 H/GRW 1.86 2.25 2.28 0.39 NM -0.11 0.01 0.15 Dec $1,257 0.0% FHNewmont Corporation NEM N MO2 M/GRW 58.82 88.00 72.22 33.00 22.7 1.32 2.59 4.23 Dec $47,254 2.7% BMaOceanaGold Corporation OGC T MO2 H/GRW C$1.62 3.75 4.01 1.16 NM 0.01 -0.10 0.31 Dec C$1,140 0.0% FHOrezone Gold Corporation ORE V SB1 H/SPEC C$0.93 1.75 1.27 0.22 NM -0.10 -0.06 -0.02 Dec C$238 0.0% CS


52 Week EPS

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Mining and Natural Resources - CAN

Osisko Gold Royalties Ltd OR T MO2 H/GRW C$14.11 20.00 17.50 6.35 47.0 0.28 0.30 0.51 Dec C$2,355 1.4% BMaRoxgold Inc. ROXG T MO2 H/GRW C$1.65 2.40 1.92 0.56 20.4 0.01 0.08 0.15 Dec C$616 0.0% CSRoyal Gold Inc. RGLD Q MO2 H/GRW 110.47 160.00 147.64 59.78 30.6 1.48 3.13A 3.61 Jun $7,248 1.1% BMaSandstorm Gold Ltd. SAND N MP3 H/GRW 7.29 10.00 10.63 3.32 NM 0.09 0.06 0.16 Dec $1,402 0.0% BMaSkeena Resources Ltd. SKE T SB1 H/SPEC C$2.49 4.35 3.34 0.50 NM -0.26 -0.10 -0.09 Dec C$533 0.0% CSTeranga Gold Corp. TGZ T MP3 H/GRW C$14.34 16.50 16.80 3.86 31.2 -0.31 0.46 1.80 Dec C$2,403 0.0% CSWheaton Precious Metals Corp. WPM N MO2 H/GRW 39.14 64.00 57.89 18.66 33.5 0.56 1.17 1.57 Dec $17,585 1.6% BMaYamana Gold Inc. AUY N MP3 H/GRW 5.22 8.50 7.02 2.23 16.4 0.10 0.32 0.43 Dec $4,973 1.9% FHPrecious Metals - SilverMAG Silver Corp. (cf) MAG T MO2 H/GRW C$19.78 26.00 26.29 5.33 NM -0.05 -0.20 0.40 Dec C$1,874 0.0% BMaSilverCrest Metals Inc. SIL T MO2 H/SPEC C$11.40 14.50 14.88 4.50 NM -0.66 -0.52 -0.20 Dec C$1,473 0.0% CSUraniumCameco Corporation CCO T MO2 H/GRW C$12.99 17.00 16.71 7.69 NM 0.10 -0.23 0.12 Dec C$5,142 0.6% BMaDenison Mines Corp. DML T MP3 H/SPEC C$0.47 0.95 0.75 0.24 NM -0.03 -0.03 -0.02 Dec C$319 0.0% BMaNexGen Energy Ltd. NXE T MO2 H/SPEC C$2.33 4.25 2.64 0.76 NM -0.04 -0.13 -0.08 Dec C$878 0.0% BMaUranium Participation Corporation U T MO2 H/GRW C$4.01 6.50 5.39 3.12 1.7 1.25 -0.42A 2.40 Feb C$545 0.0% BMa


Real Estate

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

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

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

Office/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] Milligan [email protected]

HousingD.R. Horton, Inc. (ar) DHI N MO2 M/GRW 74.50 85.00 81.21 25.51 12.6 4.29 5.90 7.10 Sep $27,147 1.1% BHKB Home (ar) KBH N SB1 M/GRW 35.20 48.00 42.20 9.82 12.1 2.91 2.91 4.35 Nov $3,187 1.7% BHLennar Corporation (g) LEN N MO2 M/GRW 75.86 90.00 86.80 25.42 10.3 5.74 7.39 8.15 Nov $23,724 1.3% BHM.D.C. Holdings, Inc. (ar) MDC N SB1 M/GRW 48.27 61.00 52.50 15.75 9.6 3.72 5.05 6.70 Dec $3,131 3.3% BHPulteGroup, Inc. (g) PHM N SB1 M/GRW 43.63 60.00 49.70 17.12 8.8 3.66 4.93 6.10 Dec $11,697 1.1% BHToll Brothers, Inc. (ar) TOL N MO2 M/GRW 47.35 55.00 50.41 13.28 15.5 4.03 3.05 5.25 Oct $5,975 0.9% BH

LodgingHilton Worldwide Holdings Inc. (ng) HLT N MO2 M/GRW 103.63 105.00 116.73 44.30 NM 3.90 0.28 1.73 Dec $28,752 0.0% WACHyatt Hotels Corporation (ng) H N MP3 M/GRW 71.97 NM 94.98 24.02 NM 2.05 -4.92 -2.94 Dec $7,282 0.0% WACMarriott International, Inc. (ng) MAR Q MP3 M/GRW 126.87 NM 153.39 46.56 NM 6.00 -0.26 2.00 Dec $41,148 0.0% WAC

REITsFarmland REITsFarmland Partners Inc. (ca) FPI N MO2 H/INC 7.98 7.50 8.60 5.05 40.7 0.09 0.20 0.22 Dec $234 2.5% BHHealthcare REITsCareTrust REIT, Inc. (x) CTRE Q SB1 M/INC 19.43 24.00 23.64 7.16 14.1 1.36 1.38 1.40 Dec $1,860 5.1% JHDiversified Healthcare Trust (x) DHC Q MP3 M/INC 4.41 NM 8.93 2.00 5.6 1.31 0.79 0.51 Dec $1,051 0.9% JHHealthcare Realty Trust Incorporated (x) HR N SB1 M/INC 29.50 35.00 37.97 24.10 18.3 1.60 1.62 1.72 Dec $4,013 4.1% JHHealthcare Trust of America, Inc. (x) HTA N MO2 M/INC 26.03 29.00 34.22 20.61 15.5 1.64 1.68 1.71 Dec $5,689 4.9% JHHealthpeak Properties, Inc. (x) PEAK N MP3 M/INC 28.86 NM 37.64 18.63 17.3 1.76 1.67 1.75 Dec $15,537 5.1% JHOmega Healthcare Investors, Inc. (x) OHI N MO2 M/INC 35.22 34.00 45.22 13.33 11.2 2.95 3.14 3.11 Dec $7,995 7.6% JHPhysicians Realty Trust (x) DOC N MO2 M/INC 17.35 20.00 20.78 11.01 16.5 0.99 1.05 1.11 Dec $3,613 5.3% JHSabra Health Care REIT, Inc. (x) SBRA Q MP3 M/INC 16.48 NM 22.55 5.54 9.6 1.89 1.72 1.66 Dec $3,410 7.3% JHVentas, Inc. (x) VTR N MO2 M/INC 47.91 47.00 63.38 13.35 15.5 3.85 3.09 3.04 Dec $17,946 3.8% JHWelltower Inc. (x) WELL N MP3 M/INC 62.98 NM 89.99 24.27 18.5 4.16 3.41 3.24 Dec $26,282 3.9% JHHotel REITsDiamondRock Hospitality Company (x) DRH N MP3 M/INC 7.52 NM 11.79 1.96 NM 2.56 -1.25 -0.34 Dec $1,500 0.0% WACHersha Hospitality Trust (x) HT N MU4 H/INC 8.10 NM 14.81 2.29 NM 1.95 -1.44 -0.21 Dec $315 0.0% WACHost Hotels & Resorts, Inc. (x) HST Q MO2 M/INC 14.03 16.00 18.90 7.86 NM 1.78 -0.37 -0.06 Dec $9,896 0.0% WACPark Hotels & Resorts Inc. (x) PK N MP3 M/INC 16.32 NM 26.58 3.99 NM 2.88 -1.72 -0.75 Dec $3,845 0.0% WACPebblebrook Hotel Trust (x) PEB N MP3 M/INC 18.50 NM 27.70 5.39 NM 2.63 -1.43 -0.32 Dec $2,422 0.2% WACRLJ Lodging Trust (x) RLJ N MP3 M/INC 12.33 NM 18.17 3.88 NM 2.03 -1.03 -0.31 Dec $2,035 0.3% WACRyman Hospitality Properties, Inc. (x) RHP N MO2 M/INC 64.19 68.00 91.56 13.25 NM 6.86 -3.23 -0.98 Dec $3,529 0.0% WACSummit Hotel Properties, Inc. (x) INN N MO2 M/INC 8.69 9.50 12.42 2.32 NM 1.25 -0.35 0.03 Dec $919 0.0% WACSunstone Hotel Investors, Inc. (x) SHO N MP3 M/GRW 10.50 NM 14.43 5.75 NM 1.12 -0.78 -0.13 Dec $2,264 0.0% WACXenia Hotels & Resorts, Inc. (x) XHR N MP3 M/INC 14.09 NM 22.04 6.14 NM 2.19 -0.84 -0.30 Dec $1,602 0.0% WACIndustrial REITsAmericold Realty Trust (x) COLD N MO2 M/INC 34.13 43.00 41.29 23.30 28.6 1.20 1.19 1.32 Dec $6,992 2.5% WAC


52 Week EPS

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EastGroup Properties, Inc. (x) EGP N MP3 M/INC 136.33 NM 153.26 83.40 25.4 4.98 5.36 5.56 Dec $5,393 2.3% WACFirst Industrial Realty Trust, Inc. (x) FR N MP3 M/INC 41.88 NM 46.12 25.89 22.8 1.74 1.84 1.85 Dec $5,405 2.4% WACSTAG Industrial, Inc. (co) STAG N MO2 M/INC 29.78 35.00 34.50 17.54 16.0 1.84 1.87 1.94 Dec $4,444 4.8% WACMortgage REITs & Real Estate FinanceApollo Commercial Real Estate Finance (ng) ARI N MP3 H/INC 10.78 NM 18.95 4.12 10.5 1.81 1.03 1.43 Dec $1,512 13.0% SLaArbor Realty Trust, Inc. (ng) ABR N MO2 M/INC 13.32 14.00 15.32 3.54 8.2 1.39 1.62 1.45 Dec $1,644 9.6% SLaAres Commercial Real Estate Corporation (ng) ACRE N MO2 M/INC 11.14 12.00 17.72 2.78 8.5 1.41 1.31 1.44 Dec $373 11.8% SLaBlackstone Mortgage Trust, Inc. (ng) BXMT N MP3 M/INC 25.98 NM 40.62 12.67 10.3 2.72 2.52 2.53 Dec $3,798 9.5% SLaBroadmark Realty Capital Inc. (ng) BRMK N MO2 M/INC 10.15 11.00 12.81 5.44 13.7 NA 0.74 0.82 Dec $1,342 7.1% SLaChimera Investment Corporation (ng) CIM N MP3 M/INC 10.26 NM 22.98 6.42 6.7 2.25 1.52 1.33 Dec $2,398 11.7% SLaColony Credit Real Estate, Inc. (ng) CLNC N MP3 H/SPEC 7.26 NM 14.15 2.46 NM 0.16 -1.22 0.63 Dec $1,278 0.0% SLaExantas Capital Corp. (ng) XAN N MO2 H/SPEC 3.48 4.50 12.51 0.95 4.8 1.07 0.72 0.36 Dec $112 31.6% SLaGranite Point Mortgage Trust Inc. (ng) GPMT N MO2 M/INC 9.26 11.00 18.97 1.74 8.1 1.40 1.14 1.21 Dec $511 8.6% SLaGreat Ajax Corp. (g) AJX N MO2 H/INC 9.92 11.50 14.88 3.96 13.2 1.74 0.75 0.96 Dec $228 6.9% SLaiStar Inc. (ng) STAR N MO2 H/INC 14.10 19.00 17.50 5.48 23.6 3.72 0.60 0.56 Dec $1,043 3.1% SLaKKR Real Estate Finance Trust Inc. (ng) KREF N MO2 M/INC 18.23 19.50 22.03 6.84 9.1 1.67 1.99 1.93 Dec $1,014 9.4% SLaLadder Capital Corp (ng) LADR N SB1 H/INC 9.12 11.50 18.97 2.65 15.1 1.60 0.61 0.52 Dec $1,146 8.8% SLaMFA Financial, Inc. (g) MFA N MP3 H/SPEC 3.70 NM 8.09 0.32 NM 0.81 -1.58 0.36 Dec $1,677 5.4% SLaNew Residential Investment Corp. (ng) NRZ N MO2 M/INC 9.26 11.50 17.66 2.91 6.3 2.17 1.48 1.31 Dec $3,907 6.5% SLaNew York Mortgage Trust, Inc. (g) NYMT N MP3 H/INC 3.52 NM 6.47 0.98 NM 0.66 -1.00 0.38 Dec $1,328 8.5% SLaNexPoint Real Estate Finance, Inc. (ng) NREF N SB1 M/INC 16.49 18.00 19.50 6.34 10.9 NA 1.51 2.07 Dec $84 9.7% SLaReady Capital Corporation (ng) RC N MO2 H/INC 12.94 14.25 16.06 3.73 8.0 1.54 1.63 1.37 Dec $705 9.3% SLaRedwood Trust, Inc. (ng) RWT N SB1 H/INC 8.65 12.00 18.01 2.14 NM 1.20 -0.10 0.79 Dec $968 6.5% SLaSafehold Inc. (g) SAFE N MP3 M/GRW 68.07 NM 72.95 37.95 58.3 0.89 1.17 1.33 Dec $3,622 1.0% SLaStarwood Property Trust Inc. (ng) STWD N MO2 M/INC 17.94 21.00 26.33 7.59 9.1 1.80 1.96 1.99 Dec $5,107 10.7% SLaTPG RE Finance Trust, Inc. (ng) TRTX N SB1 M/INC 10.37 13.00 21.30 2.45 NM 1.77 -0.96 1.34 Dec $796 7.7% SLaTwo Harbors Investment Corp. (ng) TWO N MP3 M/INC 6.24 NM 15.85 2.25 9.2 1.35 0.68 0.91 Dec $1,708 9.0% SLaVelocity Financial, Inc. (ng) VEL N MO2 H/SPEC 6.27 8.00 14.90 2.24 10.2 1.47 0.62 0.63 Dec $126 0.0% SLaNet Lease REITsAgree Realty Corporation (x) ADC N SB1 M/GRW 65.90 82.00 80.51 45.23 20.7 3.08 3.19 3.40 Dec $3,649 3.6% RMAlpine Income Property Trust, Inc. (x) PINE N MO2 M/GRW 16.01 20.00 19.84 7.74 13.4 0.07 1.19 1.25 Dec $119 5.5% RMEPR Properties (x) EPR N MP3 H/SPEC 36.02 NM 73.59 12.56 17.7 4.39 2.04 2.82 Dec $2,688 0.0% RMEssential Properties Realty Trust, Inc. (x) EPRT N MO2 M/GRW 20.54 23.00 29.34 6.08 18.2 1.09 1.13 1.30 Dec $2,150 4.5% RMFour Corners Property Trust, Inc. (x) FCPT N SB1 M/GRW 28.01 32.00 32.50 12.80 18.9 1.44 1.48 1.58 Dec $2,057 4.5% RMGaming and Leisure Properties, Inc. (x) GLPI Q SB1 M/INC 41.54 52.00 48.89 12.50 13.3 2.88 3.12 3.31 Dec $9,614 5.7% RMMGM Growth Properties LLC (x) MGP N MO2 M/INC 30.57 35.00 34.37 11.43 15.2 2.11 2.01 2.22 Dec $4,019 6.4% RMNational Retail Properties, Inc. (x) NNN N MP3 M/GRW 37.70 NM 58.87 24.04 14.7 2.71 2.57 2.58 Dec $6,550 5.5% RMRealty Income Corporation (x) O N MO2 M/GRW 59.97 71.00 84.92 38.00 18.1 3.29 3.31 3.41 Dec $21,049 4.7% RMSpirit Realty Capital, Inc. (x) SRC N MO2 M/INC 36.84 41.00 54.63 18.37 13.4 3.34 2.75 2.85 Dec $4,007 6.8% RMSTORE Capital Corporation (x) STOR N MO2 M/GRW 32.56 34.00 40.68 13.00 17.0 1.91 1.82A 1.91 Dec $8,550 4.4% RMVICI Properties Inc. (x) VICI N SB1 M/INC 25.29 32.00 28.75 9.85 15.0 1.24 1.69 1.93 Dec $13,572 5.2% RMOffice/Mixed REITsArmada Hoffler Properties, Inc. (x) AHH N MP3 M/INC 10.61 NM 19.43 6.40 10.0 1.10 1.06 0.98 Dec $615 4.1% WACBrandywine Realty Trust (x) BDN N MP3 M/INC 11.13 NM 16.25 7.48 7.9 1.43 1.40 1.42 Dec $1,898 6.8% WAC


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Real Estate - USA

City Office REIT, Inc. (co) CIO N MP3 M/INC 8.77 NM 14.16 6.12 7.3 1.16 1.21 1.29 Dec $381 6.8% WACCorporate Office Properties Trust (co) OFC N MO2 M/INC 26.63 28.00 30.57 15.23 12.7 2.03 2.10 2.19 Dec $2,987 4.1% WACDouglas Emmett, Inc. (x) DEI N MO2 M/INC 30.97 29.00 45.59 22.88 17.6 2.10 1.76 1.82 Dec $5,431 3.6% WACEasterly Government Properties, Inc. (x) DEA N MP3 M/GRW 21.66 NM 29.70 19.00 17.4 1.20 1.25 1.28 Dec $1,759 4.8% WACWashington REIT (x) WRE N MO2 M/INC 23.21 21.00 32.22 16.95 16.0 1.66 1.45 1.45 Dec $1,912 5.2% WACResidential REITsAmerican Homes 4 Rent (co) AMH N SB1 M/GRW 28.72 34.00 32.04 17.50 25.4 1.12 1.13 1.27 Dec $9,083 0.7% BHApartment Investment and Management Co. (x) AIV N MP3 M/INC 30.35 NM 45.28 19.95 12.2 2.50 2.49 2.05 Dec $4,518 8.8% BHClipper Realty Inc. (co) CLPR N MO2 M/INC 6.35 9.00 11.95 4.32 15.3 0.50 0.41 0.49 Dec $113 6.0% BHEquity Residential (x) EQR N MU4 M/INC 57.92 NM 87.53 45.42 18.0 3.49 3.22 2.95 Dec $21,561 4.2% BHEssex Property Trust, Inc. (co) ESS N MU4 M/INC 245.88 NM 329.74 175.81 19.0 13.38 12.93 12.60 Dec $16,031 3.4% BHInvestors Real Estate Trust (x) IRET N MP3 M/INC 69.40 NM 85.24 43.58 21.1 4.04 3.29 3.70 Dec $901 4.0% BHInvitation Homes Inc. (co) INVH N SB1 M/GRW 28.58 36.00 32.70 15.64 22.2 1.25 1.29 1.40 Dec $16,020 2.1% BHMid-America Apartment Communities, Inc. (x) MAA N MO2 M/INC 126.16 130.00 148.88 82.00 20.1 6.55 6.28 6.75 Dec $14,429 3.2% BHNexPoint Residential Trust, Inc. (co) NXRT N MO2 M/GRW 44.31 49.00 52.87 21.06 20.2 1.94 2.20 2.40 Dec $1,090 3.1% BHSelf Storage REITsCubeSmart (x) CUBE N MP3 M/INC 32.53 NM 35.77 19.61 20.1 1.69 1.62 1.64 Dec $6,352 4.1% JHExtra Space Storage Inc. (x) EXR N MP3 M/INC 112.73 NM 121.07 72.70 23.1 4.88 4.88 4.95 Dec $14,569 3.2% JHLife Storage, Inc. (x) LSI N MO2 M/INC 109.72 120.00 119.94 67.31 19.2 5.62 5.71 5.97 Dec $5,332 3.9% JHPublic Storage (x) PSA N MU4 M/INC 224.46 NM 240.75 155.37 21.6 10.75 10.38 10.53 Dec $39,240 3.6% JHTimber REITsCatchMark Timber Trust, Inc. (ca) CTT N MO2 M/INC 9.59 11.50 11.91 5.13 12.5 0.66 0.77 0.63 Dec $468 5.6% BHPotlatchDeltic Corporation (g) PCH Q SB1 M/INC 46.54 51.00 48.37 22.40 19.4 0.82 2.40 1.85 Dec $3,112 3.4% BHRayonier Inc. (g) RYN N MO2 M/INC 28.17 32.00 33.10 15.96 89.7 0.46 0.31 0.15 Dec $3,846 3.8% BHWeyerhaeuser Company (g) WY N MP3 H/INC 29.04 NM 31.58 13.10 40.1 -0.10 0.72 0.72 Dec $21,676 2.3% BH


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Real Estate - CAN

Frederic Bastien, CFA [email protected] Brad Sturges, CFA [email protected] Real EstateOffice/DiversifiedAllied Properties REIT (x) AP.UN T MO2 M/INC C$40.82 48.00 60.14 31.49 17.9 2.27 2.27 2.32 Dec C$5,195 4.0% BSTrue North Commercial REIT (x) TNT.UN T MP3 H/INC C$6.48 7.00 8.17 3.83 10.8 0.58 0.60 0.62 Dec C$582 9.1% BSReal Estate ServicesColliers International Group Inc. CIGI Q MO2 H/GRW 89.19 90.00 92.22 33.93 23.8 4.66 3.75 5.35 Dec $3,572 0.1% FBFirstService Corporation FSV Q MO2 M/GRW 138.05 145.00 145.84 57.38 42.4 3.00 3.25 3.75 Dec $6,015 0.6% FBResidentialBSR Real Estate Investment Trust (x) HOM.U T MO2 H/GRW 10.27 12.50 13.35 7.51 16.4 0.71 0.63 0.66 Dec $482 4.9% BSCanadian Apartment Properties REIT (x) CAR.UN T MO2 H/INC C$51.16 58.75 61.29 36.40 22.6 2.13 2.27 2.47 Dec C$8,758 2.7% BSEuropean Residential REIT ERE.UN T MO2 H/INC C$4.23 5.00 5.37 2.81 31.3 0.14 0.14 0.15 Dec C$375 3.8% BSInterRent Real Estate Investment Trust (x) IIP.UN T MO2 M/INC C$14.02 15.50 19.05 10.39 29.3 0.49 0.48 0.53 Dec C$1,936 2.4% BSKillam Apartment REIT (x) KMP.UN T MO2 M/INC C$17.62 20.50 23.37 13.90 17.4 0.98 1.01 1.05 Dec C$1,815 3.9% BSMinto Apartment REIT (x) MI.UN T MO2 M/INC C$19.09 23.00 28.31 15.58 22.5 0.86 0.85 0.89 Dec C$692 2.4% BSRetailAutomotive Properties REIT (x) APR.UN T MO2 H/INC C$10.84 11.75 12.89 5.30 11.9 1.00 0.91 0.99 Dec C$409 7.4% BSSelf-StorageStorageVault Canada Inc. (x) SVI V MP3 H/GRW C$3.91 4.00 4.15 1.90 33.3 0.09 0.12 0.13 Dec C$1,424 0.3% BS


Technology & Communications

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

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

Digital Media .............................................................................................................. 58eCommerce ................................................................................................................ 58Internet Services ......................................................................................................... 59Online Advertising ....................................................................................................... 59

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

Data Centers .............................................................................................................. 60Satellite ..................................................................................................................... 60Towers ...................................................................................................................... 60Wireless ..................................................................................................................... 60Wireline ..................................................................................................................... 61

CANIT Hardware ................................................................................................................... 62Software/IT Services ........................................................................................................ 62


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Technology & Communications - USA

Nicholas Bacchus [email protected] 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] Marok, CFA [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 85.39 NM 89.34 45.00 48.7 1.75 1.71A 1.76 Apr $2,058 0.0% BGAxon Enterprise, Inc. (ng) AAXN Q MP3 M/GRW 125.69 NM 130.41 50.05 NM 1.04 1.10 1.24 Dec $7,988 0.0% BGCognex Corporation (g) CGNX Q MO2 M/GRW 75.14 75.00 76.21 35.20 79.3 1.16 0.95 1.10 Dec $13,122 0.3% BGCubic Corporation (ng) CUB N MP3 H/GRW 58.56 NM 70.50 30.86 21.0 3.08 3.32A 2.79 Sep $1,846 0.5% BGFLIR Systems, Inc. (ng) FLIR Q SB1 H/GRW 38.24 54.00 59.44 23.85 16.5 2.23 2.32 2.39 Dec $5,015 1.8% BGFortive Corporation (ng) FTV N MP3 M/GRW 70.13 NM 74.25 31.20 NM UR UR 2.39 Dec $23,648 0.4% BGIPG Photonics (g) IPGP Q MP3 H/GRW 207.01 NM 214.61 98.04 68.8 3.36 3.01 4.90 Dec $11,034 0.0% BGiRobot Corporation (g) IRBT Q MO2 H/GRW 78.43 98.00 98.55 32.79 16.7 2.97 4.69 1.66 Dec $2,206 0.0% BGL3Harris Technologies, Inc. (ng) LHX N MO2 H/GRW 191.99 200.00 230.99 142.01 24.2 10.17 11.55 13.05 Dec $40,339 1.8% BGnLIGHT, Inc. (ng) LASR Q SB1 M/GRW 30.02 35.00 33.12 9.04 NM 0.02 0.09 0.39 Dec $1,182 0.0% BGRoper Technologies (ng) ROP N MO2 M/GRW 427.00 475.00 455.72 240.00 33.8 13.04 12.63 14.30 Dec $44,779 0.5% BGTrimble Inc. (ng) TRMB Q MO2 H/GRW 59.87 65.00 61.09 20.01 28.0 1.99 2.14 2.28 Dec $14,978 0.0% BGAuto TechnologyAptiv PLC (ng) APTV N MO2 M/GRW 118.70 109.00 122.07 29.22 69.6 4.80 1.71 3.89 Dec $32,053 0.0% BGCerence Inc. (ng) CRNC Q MO2 M/GRW 90.75 80.00 94.61 11.39 48.2 1.80 1.64A 1.88 Sep $3,397 0.0% BGVisteon Corporation (ng) VC Q MP3 M/GRW 120.85 NM 127.89 38.69 NM 2.77 0.91 4.59 Dec $3,363 0.0% BG

Application SoftwareAvalara, Inc. (ng) AVLR N MO2 H/GRW 171.75 180.00 175.67 55.50 NM -0.08 -0.04 -0.23 Dec $14,525 0.0% BP, ASBenefitfocus, Inc. (ng) BNFT Q MO2 H/GRW 14.39 12.00 24.00 6.09 NM -0.69 -0.52 -0.42 Dec $463 0.0% BP, ASBigCommerce Holdings, Inc. (ng) BIGC Q MP3 H/GRW 80.66 NM 162.50 63.77 NM -2.21 -0.83 -0.38 Dec $5,578 0.0% BP, ASBlackbaud, Inc. (ng) BLKB Q MP3 M/GRW 55.09 NM 83.70 38.22 19.3 2.24 2.86 2.74 Dec $2,731 0.0% BP, ASBlackLine, Inc. (ng) BL Q MP3 H/GRW 122.90 NM 125.53 38.32 NM 0.38 0.62 0.56 Dec $7,036 0.0% BP, ASBox, Inc. (ng) BOX N MO2 H/GRW 18.69 24.00 22.09 8.64 32.2 -0.12 0.03A 0.58 Jan $3,133 0.0% BP, ASCoupa Software Incorporated (ng) COUP Q MO2 H/GRW 328.91 300.00 353.55 99.01 NM 0.17 0.52A 0.43 Jan $22,645 0.0% BP, ASDuck Creek Technologies, Inc. (ng) DCT Q MO2 H/GRW 39.76 49.00 48.00 35.10 NM -0.03 0.03A -0.02 Aug $5,202 0.0% BP, ASEverbridge, Inc. (ng) EVBG Q MO2 H/GRW 126.94 165.00 165.79 76.52 NM -0.21 -0.02 -0.05 Dec $4,438 0.0% BP, ASHubSpot, Inc. (ng) HUBS N MO2 H/GRW 394.33 365.00 401.66 90.83 NM 1.24 1.14 1.17 Dec $18,096 0.0% BP, ASManhattan Associates, Inc. (ng) MANH Q MP3 M/GRW 102.24 NM 106.17 35.20 62.3 1.74 1.64 1.46 Dec $6,495 0.0% BP, ASMiX Telematics Limited (ng, r) MIXT N SB1 H/GRW 9.97 12.00 14.92 6.64 42.5 0.78 0.69A 0.23 Mar $211 2.5% BP, ASModel N, Inc. (ng) MODN N MP3 H/GRW 34.46 NM 44.56 15.00 NM 0.23 0.48A 0.31 Sep $1,200 0.0% BP, ASnCino, Inc. (ng) NCNO Q MP3 H/GRW 81.49 NM 103.95 66.82 NM -0.25 -0.26A -0.25 Jan $7,428 0.0% BP, ASPaylocity Holding Corporation (ng) PCTY Q MO2 H/GRW 196.60 210.00 209.59 66.98 NM 1.38 1.88A 1.80 Jun $10,666 0.0% BP, ASPluralsight, Inc. (ng) PS Q MO2 H/GRW 16.38 22.00 22.69 6.59 NM -0.31 -0.13 -0.03 Dec $2,387 0.0% BP, ASQ2 Holdings, Inc. (ng) QTWO N MO2 H/GRW 113.37 120.00 116.95 47.17 NM 0.42 0.08 0.29 Dec $6,108 0.0% BP, AS


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RingCentral, Inc. (ng) RNG N SB1 H/GRW 297.05 355.00 317.84 134.85 NM 0.82 0.96 1.12 Dec $26,625 0.0% BP, ASsalesforce.com, inc. (ng) CRM N SB1 H/GRW 245.80 255.00 284.50 115.29 65.9 2.75 3.01A 3.73 Jan $223,678 0.0% BP, ASShopify Inc. (ng) SHOP N MP3 H/GRW 1,090.38 NM 1,146.91 305.30 NM 0.30 4.62 2.24 Dec $132,928 0.0% BP, ASUpland Software, Inc. (ng) UPLD Q MO2 H/GRW 45.75 55.00 51.48 20.75 20.0 2.48 2.29 1.64 Dec $1,348 0.0% BP, ASVeeva Systems Inc. (ng) VEEV N MO2 H/GRW 276.87 335.00 313.99 118.11 NM 1.63 2.19A 2.66 Jan $41,760 0.0% BP, ASWorkiva Inc. (ng) WK N MP3 H/GRW 74.99 NM 76.76 22.01 NM -0.20 0.02 -0.30 Dec $3,618 0.0% BP, ASZoomInfo Technologies Inc. (ng) ZI Q MO2 H/GRW 51.25 56.00 64.40 30.83 NM 0.14 0.32 0.44 Dec $3,549 0.0% BP, AS

Connected DevicesAlarm.com Holdings (ar) ALRM Q SB1 H/GRW 75.91 75.00 79.38 32.00 47.9 1.54 1.58 1.57 Dec $3,728 0.0% ATApple Inc. (g) AAPL Q MO2 M/GRW 119.05 140.00 137.98 53.15 28.6 2.97 3.28A 4.16 Sep $2,024,063 0.7% CC, MFArlo Technologies, Inc. (ng) ARLO N MO2 H/GRW 5.26 7.00 7.30 1.20 NM -1.42 -0.90 -0.76 Dec $416 0.0% ATMotorola Solutions, Inc. (ar) MSI N MO2 M/GRW 171.53 175.00 187.49 120.77 22.6 7.96 7.58 8.55 Dec $29,078 1.7% ATNETGEAR, Inc. (ar) NTGR Q MO2 M/GRW 31.81 43.00 37.40 15.01 11.5 1.87 2.77 2.62 Dec $963 0.0% ATSonos, Inc. (ng) SONO Q MP3 H/GRW 22.24 NM 23.08 6.58 17.8 0.36 0.62A 1.25 Sep $2,510 0.0% AT

Data InfrastructureApplied Optoelectronics, Inc. (ng) AAOI Q MP3 H/GRW 8.31 NM 17.57 5.00 NM -0.86 -0.93 -0.54 Dec $191 0.0% SLArista Networks (ng) ANET N MP3 H/SPEC 270.70 NM 280.35 156.63 30.1 9.78 9.00 10.16 Dec $20,481 0.0% SLCambium Networks Corporation (ng) CMBM Q MO2 H/GRW 27.06 25.00 28.50 3.57 34.2 0.47 0.79 1.15 Dec $696 0.0% SLCasa Systems, Inc. (ng) CASA Q MU4 H/GRW 5.31 NM 6.10 1.85 56.6 0.06 0.09 0.15 Dec $443 0.0% SLCiena Corporation (ng) CIEN N MO2 H/GRW 44.80 50.00 61.52 30.58 15.0 2.11 2.98 2.57 Oct $6,914 0.0% SLCisco Systems (ng) CSCO Q MO2 M/INC 43.02 49.00 50.28 32.40 13.5 3.09 3.21A 3.19 Jul $181,781 3.3% SLCommScope Holding Company, Inc. (ng) COMM Q MP3 H/GRW 11.85 NM 15.05 5.50 8.3 2.15 1.43 1.71 Dec $2,354 0.0% SLDell Technologies Inc. (ng) DELL N MO2 H/GRW 69.03 85.00 71.45 25.51 9.1 5.95 7.40A 7.57 Jan $55,713 0.0% SLF5 Networks, Inc. (ng) FFIV Q MP3 H/GRW 162.81 NM 167.00 79.78 16.9 10.38 9.39A 9.66 Sep $10,029 0.0% SLHarmonic Inc. (ng) HLIT Q MO2 H/GRW 6.53 8.00 8.57 4.44 NM 0.30 0.03 0.54 Dec $638 0.0% SLHewlett Packard Enterprise Company (ng) HPE N MO2 H/GRW 11.04 14.00 16.45 7.43 8.4 1.77 1.32 1.61 Oct $14,202 4.3% SLII-VI Incorporated (ng) IIVI Q MP3 H/GRW 67.65 NM 68.18 19.00 20.6 2.55 2.57A 3.29 Jun $7,017 0.0% SLInfinera Corporation (ng) INFN Q MP3 H/GRW 8.46 NM 9.25 3.68 NM -0.60 -0.30 0.21 Dec $1,633 0.0% SLJuniper Networks, Inc. (ng) JNPR N MO2 H/GRW 21.77 26.00 26.49 15.20 14.1 1.72 1.55 1.74 Dec $7,178 3.7% SLLM Ericsson Telephone Company (ng, r) ERIC Q MO2 M/GRW 12.24 13.50 12.61 6.15 22.9 0.46 0.53 0.74 Dec $40,810 1.3% SLLumentum Holdings Inc. (ng) LITE Q MO2 H/GRW 86.38 93.00 96.73 59.06 14.3 4.25 5.41A 6.06 Jun $6,518 0.0% SLNeoPhotonics Corporation (ng) NPTN N MU4 H/GRW 8.06 NM 10.34 4.65 25.9 -0.00 0.31 -0.27 Dec $404 0.0% SLNetApp, Inc. (ng) NTAP Q MP3 H/GRW 53.31 NM 65.38 34.66 15.8 4.52 4.02A 3.37 Apr $11,835 3.6% SLNokia (ng, r) NOK N MP3 H/GRW 4.03 NM 5.14 2.34 15.6 0.25 0.26 0.26 Dec $22,785 2.7% SLNutanix, Inc. (ng) NTNX Q MP3 H/SPEC 27.39 NM 37.86 11.31 NM -1.51 -2.39A -2.11 Jul $5,644 0.0% SLPure Storage, Inc. (ng) PSTG N MO2 H/SPEC 18.27 21.00 20.00 7.93 NM 0.21 0.25A 0.17 Jan $5,359 0.0% SL

Financial Technology & PaymentsBottomline Technologies (ar) EPAY Q MO2 M/GRW 45.64 57.00 57.22 27.82 37.9 1.35 1.16A 1.20 Jun $2,059 0.0% JDEveri Holdings Inc. (g) EVRI N SB1 H/GRW 10.64 13.00 14.88 1.55 NM 0.21 -0.89 0.54 Dec $914 0.0% JDEVERTEC, Inc. (ar) EVTC N MO2 M/GRW 37.17 39.00 38.59 18.21 18.4 1.96 2.02 2.24 Dec $2,673 0.5% JDFidelity National Information Services (ar) FIS N SB1 M/GRW 148.41 170.00 158.21 91.68 27.0 5.57 5.49 6.65 Dec $92,090 0.9% JDFiserv, Inc. (ar) FISV Q MO2 M/GRW 115.18 120.00 125.05 73.50 26.0 4.00 4.43 5.40 Dec $77,221 0.0% JDFleetCor Technologies, Inc. (ng) FLT N MP3 M/GRW 265.21 NM 329.85 168.51 24.3 11.79 10.92 12.51 Dec $22,119 0.0% JDGlobal Payments Inc. (ar) GPN N MO2 M/GRW 195.19 206.00 209.62 105.54 30.5 6.16 6.41 8.02 Dec $58,428 0.4% JD


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GreenSky, Inc. (ar) GSKY Q MP3 H/GRW 4.26 NM 9.84 3.05 22.0 0.57 0.19 0.44 Dec $778 0.0% JDi3 Verticals, Inc. (ar) IIIV Q SB1 M/GRW 27.90 36.00 37.85 13.01 26.5 0.83 0.77A 1.05 Sep $874 0.0% JDJack Henry & Associates, Inc. (g) JKHY Q MO2 M/GRW 160.86 196.00 200.98 123.64 42.4 3.52 3.86A 3.79 Jun $12,277 1.1% JDMastercard, Inc. (ar) MA N MO2 M/GRW 336.51 345.00 367.25 199.99 53.2 7.77 6.32 8.35 Dec $335,322 0.5% JDNuvei Corporation (ae) NVEI T MP3 M/GRW 60.61 NM 61.50 42.00 NM 123 152 177 Dec $7,968 0.0% JDPayPal Holdings, Inc. (ar) PYPL Q MO2 M/GRW 214.12 221.00 216.07 82.07 56.6 3.10 3.78 4.63 Dec $250,882 0.0% JDShift4 Payments, Inc. (ae) FOUR N MP3 M/GRW 61.63 NM 65.40 30.00 0.7 100 88 138 Dec $5,475 0.0% JDSquare, Inc. (ar) SQ N MU4 H/GRW 210.96 NM 215.00 32.33 NM 0.79 0.74 1.03 Dec $96,217 0.0% JDVisa Inc. (ar) V N MO2 M/GRW 210.35 211.00 217.65 133.93 37.7 5.45 5.03A 5.57 Sep $442,475 0.6% JDWEX Inc. (ng) WEX N MP3 M/GRW 173.24 NM 236.51 71.12 28.3 9.20 6.12 7.75 Dec $7,645 0.0% JD

Infrastructure SoftwareAkamai Technologies, Inc. (ng) AKAM Q MO2 H/GRW 103.51 117.00 120.00 75.18 20.1 4.49 5.16 5.28 Dec $16,850 0.0% RMAlteryx, Inc. (ng) AYX N MP3 H/GRW 119.84 NM 185.75 75.17 NM 0.94 0.62 0.71 Dec $7,989 0.0% RMAtlassian (ng) TEAM Q MP3 H/GRW 225.05 NM 228.97 110.01 NM 0.86 1.15A 1.01 Jun $56,695 0.0% RMCitrix Systems, Inc. (ng) CTXS Q MO2 H/GRW 123.92 145.00 173.56 100.31 20.9 5.70 5.92 6.70 Dec $15,257 1.1% RMDatadog, Inc. (ng) DDOG Q MP3 H/GRW 98.92 NM 118.13 28.88 NM -0.01 0.18 0.15 Dec $30,308 0.0% RMDynatrace, Inc. (ng) DT N MO2 H/GRW 38.02 45.00 48.85 17.10 69.1 0.17 0.31A 0.55 Mar $10,725 0.0% RMFastly, Inc. (ng) FSLY N MO2 H/GRW 84.77 85.00 136.50 10.63 NM -0.65 -0.16 -0.15 Dec $9,644 0.0% RMLimelight Networks, Inc. (ng) LLNW Q MO2 H/SPEC 4.43 8.00 8.19 3.43 NM -0.02 0.02 0.02 Dec $545 0.0% RMMicrosoft Corporation (ng) MSFT Q SB1 M/GRW 214.07 235.00 232.86 132.52 32.4 4.75 5.78A 6.61 Jun $1,618,476 1.0% RMMobileIron, Inc. (ng) MOBL Q MP3 H/GRW 7.04 NM 7.40 2.94 NM -0.06 -0.09 -0.08 Dec $835 0.0% RMNew Relic, Inc. (ng) NEWR N SB1 H/GRW 59.73 70.00 74.20 33.49 NM 0.60 0.66A -0.08 Mar $3,642 0.0% RMNortonLifeLock Inc. (ng) NLOK Q MP3 H/GRW 18.23 NM 24.40 14.17 13.1 1.59 1.12A 1.39 Mar $10,790 2.7% RMOracle Corporation (ng) ORCL N MO2 M/GRW 57.72 62.00 62.60 39.71 14.0 3.52 3.83A 4.12 May $173,573 1.7% RMServiceNow, Inc. (ng) NOW N SB1 H/GRW 534.55 575.00 537.53 238.93 NM 3.32 4.53 5.07 Dec $104,291 0.0% RMSplunk Inc. (ng) SPLK Q MO2 H/GRW 204.18 225.00 225.89 93.92 NM 1.33 1.88A -0.38 Jan $32,748 0.0% RMVMware, Inc. (ng) VMW N MO2 H/GRW 139.89 175.00 163.17 86.00 19.9 5.98 6.24A 7.03 Feb $58,772 0.0% RM

InternetDigital MediaNetflix, Inc. (g) NFLX Q MP3 H/GRW 490.70 NM 575.37 290.25 78.4 4.13 6.26 8.59 Dec $216,791 0.0% AM, AKPeloton Interactive, Inc. (g) PTON Q MO2 H/GRW 116.35 135.00 139.75 17.70 NM -10.72 -0.32A 0.46 Jun $34,008 0.0% AK, AMSpotify Technology S.A. ($E, re) SPOT N MP3 H/GRW 291.37 NM 299.67 109.18 NM 6,764 7,876 9,615 Dec $54,585 0.0% AM, AKeCommerceAlibaba Group Holding Ltd. (ng, r) BABA N SB1 H/GRW 263.36 330.00 319.32 169.95 26.4 5.66 7.57A 9.97 Mar $712,558 0.0% AKAmazon.com, Inc. (ng) AMZN Q MO2 M/GRW 3,168.04 3,500.00 3,552.25 1,626.03 74.6 31.04 42.46 57.76 Dec $1,589,564 0.0% AK, NBChegg, Inc. (g) CHGG N MO2 H/GRW 77.93 96.00 89.99 25.89 NM -0.07 -0.11 0.51 Dec $10,038 0.0% AK, NBChewy, Inc. (g) CHWY N MP3 H/SPEC 77.58 NM 77.95 20.62 NM -0.63 -0.44 -0.19 Jan $33,301 0.0% AK, NBeBay Inc. (ng) EBAY Q MP3 M/GRW 50.43 NM 61.06 26.02 14.9 2.29 3.39 3.36 Dec $34,763 1.3% AK, NBfrontdoor, inc. (g) FTDR Q MO2 M/GRW 47.34 52.00 49.47 30.06 35.7 1.80 1.33 1.71 Dec $4,045 0.0% AKGoodRx Holdings, Inc. (g) GDRX Q MP3 H/GRW 37.70 NM 64.22 33.51 NM 0.29 -0.99 0.06 Dec $1,656 0.0% AK, JWRGrubHub Inc. (ng) GRUB N MP3 H/GRW 70.34 NM 85.53 29.35 NM 0.79 -0.01 0.56 Dec $6,525 0.0% AKJumia Technologies AG (g) JMIA N MP3 H/SPEC 32.17 NM 40.90 2.15 NM -3.18 -1.79 -1.35 Dec $2,608 0.0% AK, NBLyft, Inc. (g) LYFT Q MP3 H/SPEC 38.17 NM 54.50 14.56 NM -11.44 -5.48 -4.40 Dec $12,120 0.0% AK, NB


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Revolve Group, Inc. (g) RVLV N SB1 H/GRW 23.60 32.00 24.41 7.17 36.5 0.59 0.65 0.74 Dec $1,660 0.0% AK, NBThe RealReal, Inc. (g) REAL Q MO2 H/GRW 13.85 17.00 19.15 5.00 NM -1.16 -1.95 -2.16 Dec $1,227 0.0% AK, NBUber Technologies, Inc. (g) UBER N MP3 H/SPEC 49.66 NM 52.15 13.71 NM -6.81 -3.87 -1.74 Dec $87,589 0.0% AK, NBWayfair, Inc. (ng) W N MP3 H/GRW 254.36 NM 349.08 21.70 48.0 -8.03 5.30 6.33 Dec $25,296 0.0% AK, NBInternet ServicesCardlytics, Inc. (f, g) CDLX Q MP3 H/GRW 118.68 NM 125.50 27.33 NM -0.71 -2.15 -1.90 Dec $3,259 0.0% AKGoDaddy Inc. (g) GDDY N SB1 M/GRW 79.54 96.00 89.00 40.25 NM 0.77 -2.91 1.69 Dec $13,434 0.0% AKWix.com Ltd. (ng) WIX Q MO2 H/GRW 255.43 295.00 319.34 76.81 NM 1.17 -0.73 0.24 Dec $14,212 0.0% AKOnline AdvertisingAlphabet Inc. (g) GOOG Q MO2 M/GRW 1,760.74 1,800.00 1,818.06 1,013.54 33.8 49.16 52.09 56.49 Dec $1,191,264 0.0% AK, AMCarGurus, Inc. (g) CARG Q MP3 H/GRW 25.05 NM 40.25 14.25 37.7 0.37 0.66 0.75 Dec $2,837 0.0% AK, NBCriteo S.A. (ar, r) CRTO Q MO2 H/GRW 19.37 17.00 20.08 5.89 10.0 2.67 1.94 1.34 Dec $1,167 0.0% AK, AMEverQuote, Inc. (g) EVER Q MO2 H/GRW 37.66 51.00 63.44 21.00 NM -0.28 -0.45 -0.54 Dec $1,046 0.0% AKFacebook, Inc. (g) FB Q SB1 H/GRW 276.97 320.00 304.67 137.10 29.6 6.44 9.35 10.40 Dec $788,802 0.0% AK, AMSnap Inc. (ng) SNAP N MP3 H/GRW 44.42 NM 47.27 7.89 NM -0.17 -0.09 0.22 Dec $66,185 0.0% AK, AMTechTarget, Inc. (ng) TTGT Q MO2 M/GRW 52.50 48.00 57.85 16.82 45.5 0.98 1.15 1.31 Dec $1,475 0.0% AKThe Trade Desk, Inc. (g) TTD Q MP3 H/GRW 901.07 NM 904.27 136.00 NM 2.24 3.17 2.93 Dec $42,314 0.0% AK, AMTwitter, Inc. (ng) TWTR N MP3 H/GRW 46.51 NM 52.93 20.00 NM 2.37 -0.78 0.94 Dec $36,992 0.0% AK, AM

IT ServicesBooz Allen Hamilton Holding Corp. (ng) BAH N MP3 H/GRW 86.79 NM 89.86 54.37 22.9 2.76 3.17A 3.80 Mar $11,968 1.4% BGCACI International Inc (g) CACI N MP3 H/GRW 237.29 NM 288.59 156.15 15.9 10.46 12.61A 14.91 Jun $5,984 0.0% BGMAXIMUS, Inc. (ng) MMS N SB1 H/GRW 71.81 90.00 80.50 46.42 19.9 3.72 3.40A 3.62 Sep $4,413 1.6% BGNIC Inc. (g) EGOV Q SB1 M/GRW 23.43 28.00 25.94 15.49 22.8 0.75 1.03 1.06 Dec $1,571 1.5% BGPAE Incorporated (ae) PAE Q MO2 H/GRW 9.61 15.00 12.76 3.10 NM 167 176 200 Dec $885 0.0% BG

IT Supply ChainArrow Electronics, Inc. (ar) ARW N MP3 M/GRW 91.65 NM 94.37 39.25 12.6 7.49 7.29 8.65 Dec $6,924 0.0% ATAvnet, Inc. (ar) AVT Q SB1 M/GRW 30.35 35.00 43.00 17.85 17.4 4.11 2.02A 1.75 Jun $2,999 2.8% ATCDW Corporation (ar) CDW Q MO2 M/GRW 130.49 150.00 146.95 73.39 21.2 6.11 6.17 6.40 Dec $18,659 1.2% ATConnection (ar) CNXN Q MP3 M/GRW 45.65 NM 56.33 30.10 21.9 3.12 2.08 2.65 Dec $1,195 0.0% ATFlex Ltd. (c) FLEX Q MP3 H/GRW 16.23 NM 17.00 5.36 13.2 1.14 1.23A 1.23 Mar $8,134 0.0% ATInsight Enterprises, Inc. (ng) NSIT Q MP3 M/GRW 71.48 NM 74.34 28.25 12.1 5.42 5.93 6.20 Dec $2,509 0.0% ATJabil Inc. (c) JBL N SB1 H/GRW 38.22 45.00 44.20 17.63 9.6 2.98 2.90A 4.00 Aug $5,716 0.8% ATPlexus Corp. (ng) PLXS Q MP3 H/GRW 74.71 NM 86.53 35.16 16.2 3.43 4.07A 4.60 Sep $2,153 0.0% ATScanSource, Inc. (ng) SCSC Q MO2 H/GRW 25.10 27.00 39.01 13.78 15.0 3.36 2.05A 1.67 Jun $637 0.0% ATSYNNEX Corporation (ng) SNX N SB1 H/GRW 160.31 160.00 164.74 52.06 13.1 13.26 12.23 12.65 Nov $8,262 0.0% AT

Security SoftwareAbsolute Software Corporation (ng) ABST Q MO2 H/GRW 10.30 14.00 13.95 4.90 20.0 0.39 0.47A 0.51 Jun $505 3.1% ATCheck Point Software Technologies (ng) CHKP Q MP3 M/GRW 117.68 NM 130.98 80.06 17.6 6.13 6.70 6.73 Dec $16,499 0.0% ATFortinet, Inc. (ng) FTNT Q MO2 H/GRW 123.23 155.00 151.95 70.20 38.2 2.47 3.22 3.45 Dec $20,004 0.0% ATPalo Alto Networks, Inc. (ng) PANW N MP3 H/GRW 293.92 NM 298.50 125.47 51.2 5.45 4.87A 5.74 Jul $27,984 0.0% ATPing Identity Holding Corp. (ng) PING N SB1 H/GRW 22.49 40.00 37.80 12.02 87.8 0.59 0.26 0.30 Dec $1,824 0.0% ATRapid7, Inc. (ng) RPD Q MO2 H/GRW 74.94 72.00 75.34 31.34 NM 0.08 -0.11 0.05 Dec $3,885 0.0% AT


52 Week EPS

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SemiconductorsAnalog Devices, Inc. (ng) ADI Q MO2 M/GRW 139.08 160.00 140.38 79.08 25.1 5.15 4.91A 5.55 Oct $51,387 1.8% CC, MFBroadcom Inc. (ng) AVGO Q MP3 M/GRW 401.58 NM 402.16 155.67 18.0 21.30 22.35 25.74 Oct $162,439 3.2% CC, MFIntel Corporation (ng) INTC Q MP3 M/GRW 48.35 NM 69.29 43.61 9.9 4.89 4.89 4.13 Dec $198,138 2.7% CC, MFMACOM Technology Solutions Holdings Inc. (ng) MTSI Q MP3 M/GRW 44.68 NM 45.87 15.03 27.1 -0.29 0.98A 1.65 Sep $3,036 0.0% CC, MFMarvell Technology Group Ltd. (ng) MRVL Q MP3 M/GRW 46.29 NM 46.38 16.45 50.9 1.19 0.66A 0.91 Jan $31,024 0.5% CC, MFMaxim Integrated (ng) MXIM Q MP3 M/GRW 83.04 NM 83.68 41.93 28.7 2.44 2.27A 2.89 Jun $22,197 2.3% CC, MFMicrochip Technology Incorporated (ng) MCHP Q SB1 M/GRW 134.39 140.00 135.29 53.15 21.4 6.55 5.62A 6.29 Mar $34,992 1.1% CC, MFMicron Technology, Inc. (ng) MU Q SB1 H/GRW 64.09 80.00 65.25 31.13 22.6 6.35 2.84 3.46 Aug $71,346 0.0% CC, MFMonolithic Power Systems, Inc. (ng) MPWR Q MO2 M/GRW 319.96 336.00 358.69 130.12 64.8 3.88 4.94 5.75 Dec $14,430 0.6% CC, MFNVIDIA Corporation (ng) NVDA Q MO2 M/GRW 536.06 600.00 589.07 180.68 55.0 6.64 5.79A 9.74 Jan $331,821 0.1% CC, MFNXP Semiconductors N.V. (ng) NXPI Q MO2 M/GRW 158.42 150.00 161.84 58.41 26.5 7.38 5.99 8.05 Dec $44,318 0.9% CC, MFON Semiconductor Corporation (ng) ON Q MO2 M/GRW 28.75 28.00 29.43 8.17 37.7 1.48 0.76 1.23 Dec $11,823 0.0% CC, MFQorvo, Inc. (ng) QRVO Q MO2 H/GRW 156.68 160.00 157.00 67.54 18.2 5.77 6.32A 8.61 Mar $17,869 0.0% CC, MFQUALCOMM Incorporated (ng) QCOM Q SB1 M/GRW 147.17 150.00 153.33 58.00 20.2 3.54 4.19A 7.27 Sep $166,449 1.8% CC, MFSiTime Corporation (ng) SITM Q MO2 H/GRW 86.97 110.00 112.69 15.42 NM -0.63 0.32 0.77 Dec $1,473 0.0% CC, MFSkyworks Solutions, Inc. (ng) SWKS Q MO2 M/GRW 141.17 170.00 158.61 67.90 18.6 6.16 6.13A 7.57 Sep $23,446 1.4% CC, MFTexas Instruments Incorporated (ng) TXN Q MP3 M/INC 161.25 NM 164.63 93.09 28.2 5.46 5.71 6.51 Dec $148,018 2.5% CC, MFXilinx, Inc. (ng) XLNX Q MP3 M/GRW 145.55 NM 145.84 67.68 50.2 3.48 3.36A 2.90 Mar $35,677 1.0% CC, MF

Telecommunications ServicesData CentersCoreSite Realty Corporation (af) COR N MO2 H/GRW 125.39 136.00 131.36 90.07 24.1 5.13 5.21 5.67 Dec $6,815 3.9% FGLCyrusOne Inc. (af) CONE Q MO2 H/GRW 69.91 83.00 86.77 43.72 18.6 3.50 3.76 4.06 Dec $8,419 2.9% FGLDigital Realty Trust, Inc. (af) DLR N MO2 M/INC 134.75 175.00 165.49 105.00 23.3 5.93 5.79 6.08 Dec $37,753 3.3% FGLEquinix, Inc. (af) EQIX Q MO2 H/GRW 697.79 835.00 839.77 477.87 28.5 22.83 24.52 27.20 Dec $62,173 1.5% FGLGDS Holdings Limited (CNY, g, r) GDS Q SB1 H/GRW 90.03 110.00 100.50 43.27 NM -0.46 -0.46 -0.23 Dec $34,235 0.0% FGLQTS Realty Trust, Inc. (af) QTS N MO2 H/GRW 59.41 74.00 72.60 42.64 24.9 2.45 2.39 2.60 Dec $3,828 3.2% FGLSwitch, Inc. (g) SWCH N SB1 H/GRW 15.79 24.00 19.99 10.30 NM 0.21 0.13 0.22 Dec $5,297 1.3% FGLSatelliteEchoStar Corporation (cb) SATS Q SB1 H/GRW 23.77 57.00 45.15 22.53 NM 583 637 680 Dec $2,333 0.0% RPGogo Inc. (cc) GOGO Q MP3 H/GRW 10.54 NM 11.97 1.33 NM 146 69 120 Dec $899 0.0% RPIntelsat S.A. (ae) INTEQ O MP3 H/GRW 0.47 NM 7.97 0.13 NM 1,481 1,296 1,101 Dec $68 0.0% RPIridium Communications Inc. (ae) IRDM Q MO2 H/GRW 32.09 32.00 32.95 16.87 NM 332 357 372 Dec $4,278 0.0% RPKVH Industries, Inc. (cc) KVHI Q MO2 H/GRW 10.30 10.00 11.64 6.36 2.6 -4 4 9 Dec $188 0.0% RPORBCOMM Inc. (ae) ORBC Q SB1 H/GRW 5.72 8.00 6.59 1.24 NM 63 54 64 Dec $446 0.0% RPViaSat, Inc. (ae) VSAT Q MO2 H/GRW 34.00 63.00 74.26 25.10 NM 339 458A 496 Mar $2,296 0.0% RPTowersAmerican Tower Corporation (ad) AMT N MO2 H/GRW 231.20 258.00 272.20 174.32 29.1 7.32 7.94 8.96 Dec $102,701 2.0% RPCrown Castle International Corp. (ad) CCI N MO2 M/INC 167.57 172.00 180.00 114.18 36.1 4.35 4.64 5.20 Dec $72,273 3.2% RPSBA Communications Corporation (ad) SBAC Q MO2 H/GRW 287.18 327.00 328.37 205.20 31.5 8.23 9.13 9.92 Dec $31,909 0.6% RPWirelessATN International, Inc. (cb) ATNI Q MO2 M/GRW 48.94 57.00 79.64 37.01 0.4 109 121 124 Dec $778 1.4% RPDISH Network Corporation (g) DISH Q SB1 H/GRW 35.87 58.00 42.62 17.09 11.3 2.60 3.17 3.29 Dec $18,867 0.0% RP


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Landmark Infrastructure Partners LP (af) LMRK Q SB1 M/INC 10.20 15.00 17.86 7.05 7.7 1.31 1.32 1.45 Dec $518 7.8% RPShenandoah Telecommunications Company (cc) SHEN Q MP3 M/GRW 44.44 NM 59.93 36.80 0.8 49 58 74 Dec $2,215 0.8% RPTelephone and Data Systems, Inc. (oi) TDS N SB1 H/GRW 18.98 34.00 25.64 14.05 NM 1,122 1,169 1,180 Dec $2,165 3.6% RPT-Mobile US Inc. (cb) TMUS Q MO2 H/GRW 132.94 140.00 133.05 63.50 NM 26,418 27,324 25,961 Dec $165,004 0.0% RPUnited States Cellular Corporation (oi) USM N SB1 H/GRW 31.35 43.00 37.75 23.91 NM 832 857 860 Dec $2,697 0.0% RPWirelineAltice USA, Inc. (g) ATUS N SB1 H/GRW 33.92 35.00 35.47 15.96 62.8 0.21 0.54 1.25 Dec $18,941 0.0% FGLAT&T Inc. (ng) T N MP3 M/INC 28.75 NM 39.55 26.08 9.1 3.77 3.17 3.25 Dec $204,872 7.2% FGLCable One, Inc. (g) CABO N MP3 M/GRW 1,980.67 NM 2,044.41 1,031.39 44.6 31.13 44.39 38.39 Dec $11,924 0.5% FGLCenturyLink, Inc. (ng) LUMN N MU4 H/INC 10.45 NM 15.30 8.16 7.4 1.31 1.42 1.35 Dec $11,465 9.6% FGLCharter Communications, Inc. (fc) CHTR Q MO2 H/GRW 651.99 650.00 663.70 345.67 20.9 19.10 31.22 32.63 Dec $130,320 0.0% FGLCogent Communications Holdings, Inc. (fa) CCOI Q MP3 M/INC 58.14 NM 92.96 53.20 35.0 1.96 1.66 2.49 Dec $2,747 5.0% FGLComcast Corporation (ng) CMCSA Q MP3 M/GRW 50.24 NM 52.49 31.70 19.9 3.13 2.53 3.02 Dec $229,864 1.8% FGLGTT Communications, Inc. (fc) GTT N MU4 H/GRW 4.54 NM 15.77 3.38 2.4 1.73 1.87 2.26 Dec $267 0.0% FGLUniti Group Inc. (af) UNIT Q SB1 H/INC 10.28 16.00 11.08 4.86 6.0 2.12 1.72 1.81 Dec $2,393 5.8% FGLVerizon Communications Inc. (ng) VZ N MO2 M/INC 60.41 64.00 62.22 48.84 12.4 4.81 4.87 4.95 Dec $249,982 4.2% FGLWideOpenWest, Inc. (g) WOW N MP3 H/GRW 8.19 NM 8.61 2.95 25.6 0.43 0.32 0.45 Dec $711 0.0% FGL


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Technology & Communications - CAN

Steven Li, CFA [email protected] IT HardwareBaylin Technologies Inc. BYL T R H/GRW C$0.83 R 2.50 0.47 R -0.17 R R Dec C$34 0.0% SLiEvertz Technologies Limited (ar, f) ET T MO2 H/GRW C$12.80 15.00 18.65 9.69 21.8 0.99 0.87A 0.59 Apr C$978 2.8% SLiSierra Wireless, Inc. SWIR Q MP3 H/GRW 14.60 13.00 15.50 4.31 NM -0.01 -1.28 -0.35 Dec $533 0.0% SLi

Software/IT ServicesBlackBerry Limited (f) BB N MP3 H/GRW 5.87 7.50 6.89 2.70 56.3 0.24 0.12A 0.10 Feb $3,267 0.0% SLiCGI Group GIB.A T MO2 M/GRW C$95.91 106.00 114.49 67.23 18.3 4.70 4.89A 5.24 Sep C$24,834 0.0% SLiConstellation Software Inc. CSU T MP3 M/GRW C$1608.28 1,500.00 1,644.73 1,076.34 43.0 27.36 37.40 42.37 Dec C$34,079 0.2% SLiConverge Technology Solutions Corp. CTS V MO2 H/GRW C$3.25 3.75 3.45 0.75 NM -0.14 0.03 0.26 Dec C$342 0.0% SLiLightspeed POS Inc. LSPD T MO2 H/GRW C$67.53 61.00 72.69 10.50 NM -5.53 -0.62A -0.89 Mar C$7,055 0.0% SLiMaxar Technologies Ltd. MAXR N MP3 H/GRW 27.81 26.00 32.42 7.18 8.1 0.58 3.43 2.56 Dec $1,695 0.2% SLimCloud Technologies Corp. MCLD V MO2 H/GRW C$1.66 4.00 6.50 1.60 NM -2.34 -1.55 -0.67 Dec C$46 0.0% SLiNexJ Systems Inc. NXJ T MP3 H/GRW C$0.76 1.50 0.95 0.38 NM -0.35E -0.20 Dec C$16 0.0% SLiOpen Text Corporation OTEX Q MO2 M/GRW 44.17 49.00 47.84 29.11 13.7 2.76 2.89A 3.23 Jun $12,031 1.8% SLiOptiva Inc. OPT T MP3 H/GRW C$42.51 45.00 58.00 17.50 NM -0.49 -4.37 1.38 Dec C$226 0.0% SLiReal Matters Inc. REAL T MO2 H/GRW C$19.16 33.00 33.01 7.74 17.2 0.23 0.56A 0.93A Sep C$1,636 0.0% SLiThe Descartes Systems Group Inc. DSGX Q MP3 M/GRW 59.29 58.00 63.11 24.35 45.5 0.96 1.15A 1.30 Jan $5,008 0.0% SLi


Transportation

USAAirlines ......................................................................................................................... 64

Hybrid Airlines ............................................................................................................ 64Low Cost Carriers ........................................................................................................ 64Network Airlines .......................................................................................................... 64Regional Airlines ......................................................................................................... 64Ultra-Low Cost Carriers ................................................................................................ 64

Transportation Services ................................................................................................... 64Intermodal and Asset-Light Logistics ............................................................................... 64Parcel Carriers ............................................................................................................ 64Railroad .................................................................................................................... 64Trucking (Truckload and LTL) ........................................................................................ 65

CANRailroads ....................................................................................................................... 66Transportation & Logistics ................................................................................................ 66


52 Week EPS

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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 50.97 65.00 70.41 20.02 NM 6.43 -11.16 1.00 Dec $6,303 0.0% SSAzul S.A. (ng, r) AZUL N MO2 H/GRW 21.27 23.00 44.55 5.30 NM 1.33 -4.32 -1.96 Dec $2,427 0.0% SSCopa Holdings, S.A. (ng) CPA N MO2 H/INC 79.70 60.00 114.00 24.00 NM 7.92 -6.51 0.58 Dec $3,374 4.0% SSLow Cost CarrierseasyJet plc (ar) EZJ L MP3 M/INC £8.05 NM 15.70 4.10 NM 0.87 -1.65 -0.38 Sep £3,677 0.0% SSGOL Linhas Aereas Inteligentes S.A. (ng, r) GOL N MO2 H/GRW 8.83 9.00 18.73 1.85 NM 0.72 -1.48 -0.60 Dec $1,202 0.0% SSJetBlue Airways Corporation (ng) JBLU Q MP3 H/GRW 15.09 NM 21.65 6.61 NM 1.91 -5.87 -0.25 Dec $4,112 0.0% SSSouthwest Airlines Co. (ng) LUV N MO2 H/GRW 46.34 54.00 58.83 22.46 NM 4.28 -6.52 1.12 Dec $27,353 0.0% SSNetwork AirlinesAir Canada (ng) AC T MO2 H/GRW C$24.70 32.00 52.71 9.26 NM 3.05 -12.77 -2.85 Dec C$7,329 0.0% SSAir France-KLM ($E, ng) AIRF EPA MP3 H/GRW €5.00 NM 10.91 2.61 NM 0.84 -13.27 -3.35 Dec €2,143 0.0% SSAmerican Airlines Group Inc. (ng) AAL Q MU4 H/GRW 14.13 NM 30.78 8.25 NM 4.92 -19.52 -9.28 Dec $8,549 0.0% SSDelta Air Lines, Inc. (ng) DAL N MP3 H/INC 40.25 NM 62.48 17.51 NM 7.34 -10.10 1.30 Dec $25,669 0.0% SSIAG ($E, ng) IAG MAD MP3 H/GRW €1.73 NM 5.31 0.98 NM 1.17 -1.74 0.00 Dec €8,592 0.0% SSLATAM Airlines Group S.A. (ng, r) LTMAQ O MU4 H/GRW 1.45 NM 11.98 0.60 NM 0.32 -2.57 -0.10 Dec $879 6.2% SSUnited Airlines Holdings, Inc. (ng) UAL Q MO2 H/GRW 45.05 60.00 93.62 17.80 NM 12.05 -27.19 1.25 Dec $13,184 0.0% SSRegional AirlinesMesa Air Group, Inc. (ng) MESA Q MO2 H/GRW 6.38 10.00 9.65 2.05 10.0 1.67 0.64 0.87 Sep $226 0.0% SSSkyWest, Inc. (ng) SKYW Q SB1 H/GRW 42.93 56.00 66.52 10.58 NM 6.25 -0.08 -0.10 Dec $2,153 0.0% SSUltra-Low Cost CarriersAllegiant Travel Company (ng) ALGT Q SB1 H/GRW 170.19 215.00 183.26 60.06 NM 14.26 -10.46 5.35 Dec $2,789 0.0% SSRyanair Holdings Plc (ng, r) RYAAY Q MO2 H/GRW 103.77 100.00 109.65 44.44 NM 4.50 4.96A -4.59 Mar $23,354 0.0% SSSpirit Airlines, Inc. (ng) SAVE N MP3 H/GRW 22.63 NM 47.50 7.01 NM 5.09 -7.65 0.30 Dec $2,248 0.0% SS

Transportation ServicesIntermodal and Asset-Light LogisticsC.H. Robinson Worldwide, Inc. (ng) CHRW Q MP3 M/GRW 93.97 NM 106.75 56.94 26.3 4.19 3.57 4.50 Dec $12,775 2.2% TB, FBForward Air Corporation (ng) FWRD Q MO2 H/GRW 73.07 70.00 78.41 39.59 41.9 3.04 1.74 3.02 Dec $2,010 1.1% TB, FBHub Group, Inc. (ng) HUBG Q MP3 H/GRW 54.62 NM 60.41 36.51 26.3 3.39 2.08 3.15 Dec $1,866 0.0% TB, FBJ.B. Hunt Transport Services, Inc. (ng) JBHT Q MO2 H/GRW 135.28 145.00 144.34 75.29 29.9 5.21 4.52 6.00 Dec $14,296 0.8% TB, FBLandstar System, Inc. (ng) LSTR Q MP3 M/GRW 131.42 NM 139.99 85.30 26.6 5.72 4.95 6.30 Dec $5,044 0.6% TB, FBXPO Logistics, Inc. (ng) XPO N MO2 H/GRW 106.68 105.00 109.83 38.47 67.8 4.03 1.57 4.31 Dec $9,753 0.0% TB, FBParcel CarriersFedEx Corporation (ng) FDX N MO2 M/GRW 286.58 280.00 296.07 88.69 18.3 15.52 9.50A 15.65 May $75,253 0.9% TB, FBUnited Parcel Service, Inc. (ng) UPS N SB1 M/INC 171.07 195.00 178.01 82.00 22.4 7.53 7.65 8.45 Dec $148,013 2.4% TB, FBRailroadCSX Corporation (ng) CSX Q MO2 M/GRW 90.05 87.00 93.70 46.81 25.1 4.17 3.58 4.27 Dec $68,868 1.2% TB, FBKansas City Southern (ng) KSU N SB1 H/GRW 186.17 210.00 200.00 92.86 26.3 6.90 7.07 8.35 Dec $17,426 0.9% TB, FB


52 Week EPS

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Norfolk Southern Corporation (ng) NSC N MP3 M/GRW 237.02 NM 247.98 112.62 25.9 10.25 9.14 10.90 Dec $60,201 1.6% TB, FBUnion Pacific Corporation (ng) UNP N SB1 M/GRW 204.08 220.00 211.14 105.08 25.7 8.38 7.95 9.10 Dec $137,523 1.9% TB, FBTrucking (Truckload and LTL)Old Dominion Freight Line, Inc. (ng) ODFL Q MP3 H/GRW 203.36 NM 213.66 105.80 36.7 5.10 5.55 6.40 Dec $23,860 0.3% TB, FBSaia, Inc. (ng) SAIA Q MO2 H/GRW 174.54 155.00 177.26 61.46 36.4 4.30 4.80 5.70 Dec $4,566 0.0% TB, FB


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

RailroadsCanadian National Railway CNR T MP3 M/GRW C$136.00 145.00 149.11 92.01 25.5 5.80 5.34 6.52 Dec C$96,727 1.7% SHCanadian Pacific Railway Limited CP T MP3 M/GRW C$419.57 445.00 444.49 252.00 23.6 16.43 17.76 20.15 Dec C$56,432 0.9% SH

Transportation & LogisticsCanWel Building Materials Group Ltd. CWX T MO2 H/INC C$7.07 8.50 7.29 2.73 10.5 0.23 0.68 0.64 Dec C$551 6.8% SH, DS


Raymond James Global Equities

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

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RJA (U.S.) Definitions: Strong Buy (SB1) The security is expected to appreciate, produce a total return of at least 15%, and outperformthe S&P 500 over the next six to 12 months. For higher yielding and more conservative equities, such as REITs and certain MLPs, a totalreturn of at least 15% is expected to be realized over the next 12 months. Outperform (MO2) The security is expected to appreciate oroutperform the S&P 500 over the next 12-18 months. For higher yielding and more conservative equities, such as REITs and certain MLPs,an Outperform rating is used for securities where Raymond James is comfortable with the relative safety of the dividend and expectsa total return modestly exceeding the dividend yield over the next 12-18 months. Market Perform (MP3) The security is expected toperform generally in line with the S&P 500 over the next 12 months and could potentially be used as a source of funds for more highlyrated securities. Underperform (MU4) The security is expected to underperform the S&P 500 or its sector over the next six to 12 monthsand should be sold. Suspended (S) The security’s rating and price target have been suspended temporarily. This action may be due tomarket events that made coverage impracticable or to comply with applicable regulations or firm policies in certain circumstances. Whena security’s research coverage has been suspended, the previous rating and price target are no longer in effect for this security, and theyshould not be relied upon.

RJL (Canada) Definitions: Strong Buy (SB1) The security is expected to appreciate and produce a total return of at least 15% andoutperform the S&P/TSX Composite Index over the next six to 12 months. Outperform (MO2) The security is expected to appreciateand outperform the S&P/TSX Composite Index over the next 12-18 months. Market Perform (MP3) The security is expected to performgenerally in line with the S&P/TSX composite Index over the next 12 months and could potentially be used as a source of funds for morehighly rated securities. Underperform (MU4) The security is expected to underperform the S&P/TSX Composite Index or its sector overthe next six to 12 months and should be sold. Suspended (S) The security’s rating and price target have been suspended temporarily.This action may be due to market events that made coverage impracticable or to comply with applicable regulations or firm policies incertain circumstances or may otherwise have a perceived conflict of interest. When a security’s research coverage has been suspended, theprevious rating and price target are no longer in effect for this security, and they should not be relied upon.

Coverage UniverseRating Distribution*

Investment Banking Relationships

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

59% 63%37% 33%3% 4%

21% 32%14% 16%0% 0%

* Columns may not add to 100% due to rounding.RJA 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,the potential 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 meaningful dividend but may face less


predictable earnings (or losses), more leveraged balance sheets, rapidly changing market dynamics, financial and competitive issues,higher price volatility (beta), and potential risk of principal. Securities of companies in this category may have a less predictable incomestream from dividends or distributions of capital. High Risk/Growth (H/GRW) Medium to higher risk equities of companies in fast growingand competitive industries, with less predictable earnings (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 equitiesof companies with a short or unprofitable operating history, limited or less predictable revenues, very high risk associated with success,significant financial or legal issues, or a substantial risk/loss of principal.

RJL Suitability Ratings

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