Barrons June 27 2022 - PDFCOFFEE.COM (2024)

8 SUPER-CHEAP STOCKS • PAGE 15

Tower of Troubles Carvana sold a lot of used vehicles with its new delivery system. Getting them registered proved harder. Enter the ‘undriveable-car task force.’ Page 18

BARRON’S

June 27, 2022

BARRON’S

WHERE OCCASIONS RISE TO YOU What is life’s greatest luxury? The freedom to climb any peak and chase any dream. Introducing the all-new LX 600. With more power and more innovation, you can boldly explore wherever your drive takes you.

TH E ALL- N EW LE XUS L X

June 27, 2022

C O N T ENTS

06.2 7.22

VOL.CII NO.26

P. 18

P. 15

P. 31

Carvana Might Need to Tap the Brakes

8 Best Bargains in the Market

Economy: Alternatives to Gas-Tax Gimmicks

Cover Story: In its haste to grow, used-car upstart Carvana was selling vehicles faster than it could get them registered to buyers. State regulators are now cracking down.

Home builders and steel producers are overrepresented among today’s cheapest stocks, as investors discount disastrous industry downturns that are unlikely to materialize. We look at some standouts. By ANDREW BARY

Here are better ways to lower gasoline prices and curb inflation.

P. 28

By JACOB ADELMAN

YTD CHANGE

HOME BUILDERS

2 0 2 2 E P/ E

P. 9

Up & Down Wall Street: Signs of Peak Inflation Easing pessimism about the need for aggressive Fed rate hikes hands stocks their first gain in weeks.

D.R Horton

DHI*

Lennar

LEN**

Toll Brothers

TOL***

3.7 4.0 4.2

-41% -42% -41%

By RANDALL W. FORSYTH

P. 11

Streetwise: Making Kellogg Grrrreat Again Kellogg is hoping to unlock value by splitting into three—but it could take a while for the plan to pay off.

-40

-30

-20

-10

STEEL MAKERS

With former CEO Howard Schultz returning to the fold, investors can be confident that the coffee retailer is about to get a much-needed jolt.

Four takeaways from our recent Investing in Tech conference. By ERIC J. SAVITZ

P. 29

Income: Dividend Growers That Deliver By LAWRENCE C. STRAUSS

Cleveland-Cliffs

CLF

Nucor

NUE

Stelco Holdings

STZHF

Steel Dynamics

STLD

U.S. Steel

P. 16

Tech Trader: The State of the Industry

Stocks such as UnitedHealth have a cushion against inflation.

2.8 4.1 2.3 3.3 1.9

-25% -6%

By JACK HOUGH

Starbucks Stock Is Set to Get Its Pep Back

By LISA BEILFUSS

-19%

9% -20%

*Sept. fiscal year end **Nov. fiscal year end ***Oct. fiscal year end; E=Estimate

Source: Bloomberg

P. 34

Trader: A Breather for the Bear Market Stocks are bouncing, but chances are it won’t last long. By BEN LEVISOHN

P. 37

Euro Trader: Making Money With De La Rue By BRIAN SWINT

By JACOB SONENSHINE

P. 37 P. 17

A Defensive Stock in More Ways Than One Sizing Up Small-Caps: Cadre could see 40% upside thanks to rising demand for its body armor and other law-enforcement gear. By NICHOLAS JASINSKI

Cover image: Mark Ralston/ AFP via Getty Images

Emerging Markets: Colombia Leans Left

P. 25

P. 62

A Flexible Fund for a Volatile Market

Roe Repeal Will Test Employee Benefits

Profile: Transamerica MultiAsset Income’s emphasis on highyield debt delivers more income than stocks—with less downside.

Other Voices: Companies that want to give employees in all states equal access to healthcare are about to learn if they actually can.

P. 38

By LEWIS BRAHAM

By LAURIE HAYS

By STEVEN M. SEARS

P. 32

Barron’s Roundtable on Fox Business

P. 39

By CRAIG MELLOW

Striking Price: How to Magnify Stock Returns

P. 24

GM Is an Ultracheap Play on an EV Future Follow-Up: Down 40% this year, GM stock is a steal even if it falls short of its ambitions in electric vehicles, self-driving cars, and software-based services. By AL ROOT

© 2022 Dow Jones & Company, Inc. All Rights Reserved. Our newspapers are 100% sourced from sustainable certified mills. BARRON’S (USPS 044-700) (ISSN 1077-8039) Published every Monday. Editorial and Publication Headquarters: 1211 Avenue of the Americas, New York, N.Y. 10036. Periodicals postage paid at Chicopee, MA and other mailing offices. Postmaster: Send address changes to Barron’s, 200 Burnett Rd., Chicopee, MA 01020

Former College Roomies Join Forces Q&A: Hood River Small-Cap Growth managers Brian Smoluch and David Swank have hit upon a winning stock-picking strategy. By TERESA RIVAS

Watch our weekly TV show Saturday or Sunday at 10 a.m. or 11:30 a.m. ET. This week, Pimco’s Libby Cantrill on what to expect from Washington on inflation.

Commodities: Oil Could Get Pricier By MYRA P. SAEFONG Index

Inside Scoop

P. 41

Review & Preview P. 12

P. 6

13Ds

P. 41

Mailbag

Winners and Losers P. 42

P. 63

Charting the Market P. 40

Market View

P. 43

June 27, 2022

BARRON’S

THE CONSUMER STAPLES SECTOR OF THE S&P 500 IN ONE ETF Sector SPDRs allow you to invest in pieces of the S&P 500. Like Consumer Staples. While adding diversification and reducing single stock risk. These ETFs combine the diversification of a mutual fund and the tracking of an index with transparency and liquidity.

XLP *Components and weightings as of 5/31/22. Please see website for daily updates. Holdings subject to change.

CONSUMER STAPLES SECTOR SPDR ETF TOP 10 HOLDINGS* Company Name

Symbol

Weight

Procter & Gamble

15.55%

Coca-Cola

10.81%

PepsiCo

PEP

10.18%

Costco Wholesale

COST

9.07%

Philip Morris Int'l

5.16%

Altria Group

4.63%

Mondelez Int'l

MDLZ

4.58%

Walmart

WMT

3.91%

Colgate-Palmolive

3.44%

Estee Lauder A

3.07%

Aninvestorshouldconsiderinvestmentobjectives,risks,chargesandexpensescarefullybeforeinvesting.Toobtainaprospectus,whichcontainsthisandotherinformation,call1-866-SECTOR-ETFor visit www.sectorspdrs.com. Read the prospectus carefully before investing. The S&P 500, SPDRs®, and Select Sector SPDRs® are registered trademarks of Standard & Poor’s Financial Services LLC. and have been licensed for use. The stocks included in each Select Sector Index were selected by the compilation agent. Their composition and weighting can be expected to differ to that in any similar indexes that are published by S&P. The S&P 500 Index is an unmanaged index of 500 common stocks that is generally considered representative of the U.S. stock market. The index is heavily weighted toward stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investors cannot invest directly in an index. The S&P 500 Index figures do not reflect any fees, expenses or taxes. Ordinary brokerage commissions apply. ETFs are considered transparent because their portfolio holdings are disclosed daily. Liquidity is characterized by a high level of trading activity. Select Sector SPDRs are subject to risks similar to those of stocks, including those regarding short-selling and margin account maintenance. All ETFs are subject to risk, including possible loss of principal. Funds focusing on a single sector generally experience greater volatility. Diversification does not eliminate the risk of experiencing investment losses. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust.

I N D EX A AbbVie . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Acadia Pharmaceuticals . . . . . . . . . . . . . . . . . . . . 40 Alphabet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Altria Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,40 Amazon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 American International Group . . . . . . . . . . . . . 13 Apple . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 AutoNation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

B Bausch Health . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Bausch + Lomb . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Berkshire Hathaway . . . . . . . . . . . . . . . . . . . . . . . 10 Brink's . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

BARRON’S

June 27, 2022

Our index lists significant companies mentioned in stories and columns, plus Research Reports, and Corrections & Amplifications. The references are to the first page of the item in which the company is mentioned.

J Janus Henderson Group . . . . . . . . . . . . . . . . . . . 41 Jefferies Financial Group . . . . . . . . . . . . . . . . . . 13 JetBlue Airways . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Johnson & Johnson . . . . . . . . . . . . . . . . . . . . . . . . 29 K Kellogg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,12 Kraft Heinz . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 L Lantheus Holdings . . . . . . . . . . . . . . . . . . . . . . . . . 33 Lennar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,15 Lucid Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

For Customer Service, call 1 (800) 544-0422, or go to customercenter.barrons.com. For reprints of articles, call 1 (800) 843-0008, or go to djreprints.com.

M McCormick . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Merck . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,27 Micron Technology . . . . . . . . . . . . . . . . . . . . . . . . . 13 Mondelez International . . . . . . . . . . . . . . . . . . 11,12 MongoDB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Monster Beverage . . . . . . . . . . . . . . . . . . . . . . . . . 33 MSA Safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 N Neuronetics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 New Relic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Nike . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

O Option Care Health . . . . . . . . . . . . . . . . . . . . . . . . 33 Oracle Japan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

P Paychex . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 PepsiCo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Performance Food Group . . . . . . . . . . . . . . . . . . 27 Pfizer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Polestar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

R Rite Aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Royal Caribbean . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

C Cadre Holdings . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Caesars Entertainment . . . . . . . . . . . . . . . . . . . . 33 California Resources . . . . . . . . . . . . . . . . . . . . . . . 41 CarMax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Carvana . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Celsius Holdings . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Century Aluminum. . . . . . . . . . . . . . . . . . . . . . . . .40 Cisco Systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Citigroup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Citizens Financial Group . . . . . . . . . . . . . . . . . . . 29 Coca-Cola . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Coinbase Global . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Colgate-Palmolive . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Constellation Brands . . . . . . . . . . . . . . . . . . . . . . . 13

Rupert Murdoch Executive Chairman, News Corp Robert Thomson CEO, News Corp Almar Latour CEO, Dow Jones Mae M. Cheng Dan Shar Dave Pettit

SENIOR VICE PRESIDENT, BARRON’S GROUP

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S SeaWorld Entertainment . . . . . . . . . . . . . . . . . . . 33 SentinelOne . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Smith & Wesson . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Spirit Airlines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Starbucks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

T Tesla . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,40 Trian Investors 1 . . . . . . . . . . . . . . . . . . . . . . . . . . 41 22nd Century Group . . . . . . . . . . . . . . . . . . . . . . . 40

MANAGING EDITOR, ENTERPRISE Brian Hershberg

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D Danaher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 DaVita . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 De La Rue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

E Ecopetrol . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

ASSISTANT MANAGING EDITORS ASSOCIATE EDITORS

Henry Cutter, Mel Gray, Anita Hamilton, Mary Romano, Robert Sabat

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Kristin Lenz DESIGN DIRECTOR Chelsea Schiff ART DIRECTORS Robert Connolly, Nick Hallam, Sue Ng DIRECTOR OF PHOTOGRAPHY Sarina Finkelstein PHOTO EDITORS Halie Chavez, Nicole Silver RESEARCH DIRECTOR STATISTICS MANAGER

H Hess . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Hewlett Packard Enterprise . . . . . . . . . . . . . . . 13

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I IDEX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Intel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,28 Invesco . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

Dan Lam

ADVERTISING SERVICES MANAGERS NEWS

W Walgreens Boots Alliance . . . . . . . . . . . . . . . . . . 13 WAVE Life Sciences . . . . . . . . . . . . . . . . . . . . . . . 41

Zoe Szathmary

DIRECTOR, DESIGN & VISUALS

G General Electric . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 General Mills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 General Motors . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

V Valneva . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Camilla Imperiali, Ed Lin, Erin McCarthy, Stacy Ozol, Rupert Steiner (London bureau chief) COPY DESK

F FedEx . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Ford Motor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Frontier Group Holdings . . . . . . . . . . . . . . . . . . 12

U UniQure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 United Airlines . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 UnitedHealth Group . . . . . . . . . . . . . . . . . . . . . . . 29

Jack Otter

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X XPeng . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Z Zendesk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

June 27, 2022

BARRON’S

From left to right → Jay Jordan, Co-Founder & COO, Strella Biotechnology Katherine Sizov, Co-Founder & CEO, Strella Biotechnology George Boateng, Co-Founder, SuaCode.ai Aparna Sharma, Cloud Transformation Leader, IBM Consulting Dr. Rania Khalaf, CIO & CDO, Inari Stephanie “Snow” Carruthers, Chief People Hacker for X-Force, IBM Bryan Young, Co-Founder & CEO, Home Lending Pal, IBM Hyper Protect Accelerator Member

The visionaries creatively applying technology in business to drive change.

Meet the ↷ New Creators ibm.com/new-creators IBM and the IBM logo are trademarks of International Business Machines Corporation, registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on ibm.com/trademark. © Copyright IBM Corp. 2022

BARRON’S

Congratulations to Our 2022 Barron’s Top 100 Women Financial Advisors We are proud of the Morgan Stanley Financial Advisors named to this year’s Barron’s Top 100 Women Financial Advisors list, recognizing the best Financial Advisors in the country. Today’s complex financial challenges require clear goals and a personalized plan that only the Morgan Stanley Client Experience can provide. Our Financial Advisors’ experience, access to world-class resources and standard of excellence consistently earn them more accolades than any other firm, including top rankings on the industry’s prestigious advisors’ lists. Speak to a Morgan Stanley Advisor today and see how your personalized plan can take your finances to the next level.

PRIVATE WEALTH MANAGEMENT:

WEALTH MANAGEMENT:

Karen McDonald Palo Alto, CA

Victoria Bailey Menlo Park, CA

Emily Bach Orinda, CA

Kathleen Roeser Chicago, IL

Mary Deatherage Little Falls, NJ

Anouchka Balog Laguna Niguel, CA

Barbara Yee New York, NY

Susan Kingsolver New York, NY

Kathleen Grasmeder Glens Falls, NY

MORGAN STANLEY GRAYSTONE:

Deborah Montaperto Palm Beach, FL

Alma Guimarin San Jose, CA

Linda Stephans Palm Beach, FL

Anna Winderbaum New York, NY

Mary Guza Florham Park, NJ

Kristina Van Liew Chicago, IL

Kathleen Youngerman Chesterfield, MO

Inna Kelly San Francisco, CA

Gillian Yu San Francisco, CA

Carla Koren Oakland, CA

Source: Barrons.com (June, 2022). Barron’s Top 100 Women Financial Advisors bases its ratings on qualitative and quantitative criteria. The rating may not be representative of any one client’s experiences. The rating is not indicative of the Financial Advisor’s future performance. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors pays a fee to Barron’s in exchange for the rating. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved. © 2022 Morgan Stanley Smith Barney LLC. Member SIPC. CRC 4775675 06/22

CS 347034-2387617 06/22

June 27, 2022

UP & DOWN WALL STREET Stocks Break Their Losing Streak. Is the Bear Really a Bull?

Top Photo/Sipa USA/Alamy

he stock market has predicted nine of the past five recessions, economist Paul Samuelson famously quipped back in the 1960s. A half-century later, is the stock market driving the economy into a downturn? The fall in stock prices could push corporate executives to cut back on spending and hiring, restraining the economy. That, in turn, could lessen the need for the Federal Reserve to raise interest rates as much as feared. The central bank, the thinking goes, could actually be easing monetary policy by late 2023. At least, that appears to be the logic of the markets over the past week. Sharp rallies in the credit markets followed a marked easing in key commodity prices, notably crude oil and key metals such as copper. In turn, stocks broke their three-week losing streak with gains ranging from 5.4% on the Dow Jones Industrial Average to 7.5% for the Nasdaq Composite, with the S&P 500 splitting the difference with a 6.4% advance. The bullish market action took place incongruously against the backdrop of overwhelmingly negative sentiment about the economy. The latest University of Michigan’s survey released on Friday registered the most downbeat readings on record, with continued high expectations for inflation. Those subjective feelings count because Fed Chairman Jerome Powell said they influenced the central bank’s decision to jack up its key federal-

BARRON’S

By Randall W. Forsyth

A copper smelter in Jinhua, China. Copper prices, often a signal of where the economy is headed, fell 6% this past week.

funds target rate by a big 0.75 percentage point earlier this month, the largest hike since 1994, to a target range of 1.5% to 1.75%. People expect a recession because the highest inflation in decades will force the Fed to tighten enough to push the economy into a downturn, observes Ed Hyman, head of Evercore ISI and Wall Street’s perennially toprated economist. How high is that? It could be 4%, or 5%, or 3%, he said in a telephone interview. How high will depend on when inflation starts to look better. “Better” is a subjective term, but Hyman said we’ll know it when we see it. Signals that inflation and interest rates may peak sooner came from the commodities and credit markets. Dr.

The bullish market action this past week took place against the backdrop of overwhelmingly negative sentiment about the economy.

Copper, as the metal is called for having a Ph.D. in economics owing to its forecasting prowess, plunged 6% in the past week, settling just above its one-year low hit on Thursday, and is off 16% over the past three weeks. Those recessionary ripples were felt in the Treasury market, where yields retreated sharply from recent highs. After touching 3.48% the week before last, the benchmark 10-year note traded as low as 3.02% before ending the week at 3.13%. The twoyear note, the coupon maturity most sensitive to Fed rate expectations, fell from a peak of 3.44% to as low as 2.89% this past week, before ending Friday at 3.06% Those steep yield declines reflect a substantial recalibration of expected future central bank policies. Eurodollar interest-rate futures implicitly priced in further Fed rate hikes through the end of the year, but on a pivot by the second half of 2023, implying enough improvement in inflation by then to ease up. If inflation pressures are at a peak, thank the stock market, according to Doug Ramsey, chief investment officer at the Leuthold Group. “Major” drops in the S&P 500—which he found to be 19% based on data from the past 55 years, just shy of the arbitrary 20% definition of a bear market—have

“usually unleashed a powerful, disinflationary impulse,” Ramsey wrote in a client note. While Powell asserted the economy can handle tighter Fed policy, the stock market can’t, according to Macro Intelligence 2 Partners. Chief executive officers will respond to faltering equities, leading to cutbacks reflected in measures such as purchasing managers’ surveys or employment barometers. The research note recommends betting on future Fed easing by buying December 2023 Eurodollar futures, which rise when rates fall. That suggests a significant gap between the Fed’s words and the market’s expectations of its future deeds. In his biannual congressional testimony on policy and the economy, Powell reiterated the central bank’s intent to bring inflation back to its 2% target. The Fed’s latest economic projections indicate that will be accomplished in the next two years with only a mild uptick in unemployment. The bond market expects the Fed to be less draconian if inflation recedes enough, while at the same time the labor market weakens next year. In turn, equity investors saw the dimming prospects for truly tight credit as reason enough to ease up on their pessimism this past week. In sum, the markets perceive Powell & Co. won’t drive the economy into a deep recession to get inflation back to their desired target. Given disinflationary signals from bonds and commodities, fed-funds futures anticipate a peak of 3.5% to 3.75% hit by the middle of next year, lower than the 3.8% end-of-2023 projections of Fed policy makers. As Hyman observes, we’ll know when the Fed’s done enough when we see it. But that will likely mean waiting until a subsequent recession to return to 2% inflation, if ever.

here are no bad bonds, only bad prices. So Dan Fuss, Loomis Sayles’ vice chairman, has often observed—a lesson gleaned from more than six decades of experience managing corporate bond portfolios. After what

BARRON’S

June 27, 2022

Up & Down Wall Street (continued)

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seems likely to go into the books as the worst first half of the year for fixed-income markets on record, prices now look a lot better from the standpoint of investors aiming to buy low. The savvy ones that sold high were major corporations that issued bonds at record-low yields in the past two years. Bond prices move inversely to their yields. So, with benchmark 10-year Treasury yields roughly doubling since the start of the year, to over 3%, and corporate-credit yield spreads increasing over risk-free government securities, corporate bond prices have fallen sharply. A couple of outcomes emerge. First, high-yield bonds now live up to their name, providing much higher income, north of 8% on average. Second, the sharp drop in high-grade bond prices may attract a new set of buyers: issuers of the debt themselves. On the latter score, Bank of America credit strategists Oleg Melentyev and Eric Yu see a possible rise in buybacks among what they estimate to be over $300 billion of liquid, investment-grade corporate bonds trading at or below 75% of face value. “These are the highest quality names,” they write in a research note, citing companies like Apple (ticker: AAPL), Alphabet (GOOGL), Amazon.com (AMZN), Microsoft (MSFT), Berkshire Hathaway (BRKA), JPMorgan Chase (JPM), Merck (MRK), and Verizon Communications (VZ). “These are the companies with hundreds of billions of dollars of cash, who are staring at their bonds trading at essentially distressed levels.” That presents blue-chip companies with the opportunity to gain a rare, one-off windfall from buying back their debt at a discount, they add. The finance teams at Big Tech companies did a great job for shareholders last year by obtaining cheap capital when yields were down in the 1%, 2%, and 3% ranges, says Cliff Noreen, head of global investment strategy at MassMutual. Repurchasing those bonds now at discounts produces a high return on capital, he adds in an email. As for speculative-grade debt securities, it’s been a dreadful first half, with the popular iShares iBoxx $ High Yield Corporate Bond exchange-traded fund (HYG) suffering a negative total return of 13.3% since the beginning of 2022 through June 22, according to Morningstar. The flip side is that yields are sharply higher, which means two things, according to several market pros. In addition to substantially larger current income, based on

history, investors might look forward to high total returns to offset potential defaults down the road as well as a margin of safety. The selloff in speculative-grade bonds this year has produced a doubling in yields, to 8.4%, writes Rachna Ramachandran, a researcher in structured products and high-yield strategies at GMO. In the past 30 years, only during the 2008-09 financial crisis and the March 2020 Covid-19 market maelstrom have highyield bonds produced a doubling in yields so quickly, she notes. When speculative-grade bonds start with yields between 8% and 9%, total returns in the next 12 months historically have been strong; 13% is the most frequent outcome over the past three decades, with returns ranging most often between 7% and 17%, according to Ramachandran’s research note. Moreover, a higher starting yield can absorb a lot of bad developments. She calculates an 8.4% yield can offset a 12% default rate (with a 30% recovery rate on defaults), which would be a vastly worse outcome than the 1% actual default rate in the past year. Beyond defaults, the market would have to sell off further, raising yields by another 1.95 percentage points, before an investor would be underwater, she adds. Anders Persson, chief investment officer for global fixed income at Nuveen, agrees that the surge in yields in speculative-grade credit points to strong future returns, while providing a margin of safety against future defaults. Within the high-yield bond sector, he favors the high end of the quality spectrum. Yields on BB-rated bonds have actually increased more, by 4.3 percentage points, to 7%, than the overall speculativegrade market, he writes in an email. After previous episodes of massive yield rises in 1990, 2008, and 2020, BB corporates returned an average of 30%. In contrast to the high-yield bond market, the leveraged-loan market has been pressured this year because its credit quality has declined from a higher percentage of lower-rated borrowers, he says. But Persson notes he would add to exposure to loans, which have floating interest rates that should boost returns during the Fed’s rate-hiking cycle. Last year’s historically low bond yields produced bad prices for fixed-income investors. Today’s lower prices and higher yields add up to something better. B email: [emailprotected]

June 27, 2022

BARRON’S

ST R E E T W I S E

Investors should favor food stocks with strong cash flows, pricing power, and products that hold up well when the economy slows.

Kellogg Stock Doesn’t Look so Grrrreat. Will A Snack Split Help?

ellogg needs a new company name that evokes snacking and overseas growth, not Americans slurping down Frosted Flakes. Something subtle. Is ¡Munch-ivërsal! taken? See, the company said this past week that it will split into three parts by the end of next year: Global Snacking Co, North American Cereal Co, and Plant Co. Don’t worry: Those names are only placeholders, and the plant one will sell veggie burgers, not geraniums. In other words, Kellogg (ticker: K) wants to pull a Mondelez International (MDLZ). A decade ago, Kraft ditched the cheese, hot dogs, and other sleepy stuff into a spinoff called Kraft Foods, but kept the snacks, including Oreos and Ritz crackers, and held a naming contest. The winner, “Mondelez,” is meant to sound a bit like romance-language words for “world” and “delicious.” Some subtlety lover added “International” to the end, and voilà. There is seemingly endless worldwide demand for cookies, chips, and chocolates, so Mondelez trades at 21 times earnings. The company said this past week that it will buy Clif Bar. PepsiCo (PEP) goes for 25 times earnings, and it isn’t because of soda. Think Doritos, Cheetos, and Sun Chips. Pepsi’s Frito-Lay division is expected to increase North American sales by a double-digit percentage this year. And there sits Kellogg, at less than

By Jack Hough

17 times earnings. Food is defensive, so now should be its time to shine. And the company is packed with snacks, including Pringles, Pop-Tarts, Cheez-It, and Town House Crackers. Revenue from the coming cereal and plant spinoffs make up less than 20% of the company total. But the best case for what the name evokes is still cereal. Another possibility is the 1994 film The Road to Wellville, wherein Anthony Hopkins plays Dr. John Harvey Kellogg, vegetarian and superintendent of the Battle Creek Sanitarium health resort, who goes into no small amount of detail about achieving healthy gastrointestinal throughput. The sanitarium really did develop a recipe for flaked corn, and Dr. Kellogg’s brother, Will Keith “W.K.” Kellogg, parlayed its success into the Battle Creek Toasted Corn Flake Company, known today as The Kellogg Company. The split-up should fix the company’s cornflakes image. So why did the stock rise just 2% on the news?

“It’s still unclear whether or not there’s real value creation,” says Bryan Spillane, a food and beverage analyst at BofA Securities. One problem is that eight years ago, Kellogg entered into an efficiency drive called Project K, which involved consolidating facilities and business functions across departments. So the pending split looks a little like Project Reverse-K, and the result could be higher costs. Another problem is that Kellogg is restructuring to highlight its revenue growth in snacks at a time when interest rates are rising, growth stocks are underperforming, and investors seem keener on cash flows than revenue gains. So it’s unclear whether this corporate snacktivism will pay off for investors, and it could be two years before we learn, and we don’t even have a name. Wait: PringleTarts International. You’re welcome, Kellogg. Spillane at BofA says that investors should favor food stocks with strong cash flows, plenty of pricing power, and products that hold up well when the economy slows. For snacks, he likes Mondelez and Hershey (HSY), which has seen strong momentum with its Reese’s, Kisses, and Twizzlers brands. He also likes Lamb Weston Holdings (LW), which specializes in french fries. Last year’s potato crop was the worst in decades, which hurt fry production, but this year looks better. And finally, there’s Kraft Heinz (KHC). Remember how Kraft changed its name to Mondelez and put its cheese in a new company called Kraft? Well, that Kraft merged with Heinz in 2015. Warren Buffett and Brazil’s 3G Capital were investors, and it was an epic

BARRONS.COM/PODCASTS

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flop. There was too much emphasis on cost-cutting and not enough on product innovation. Sales, profits, and the stock price slid. So the company got rid of—you guessed it—the cheese again. Also, nuts. And management. Now things are looking up. Spillane also shared two pans. Campbell Soup (CPB) got a lift from lockdowns, but now might give some of it back. And McCormick (MKC) trades at 27 times earnings at a time when beef prices are flying. Any pullback on protein could mean less need for seasonings and rubs.

tocks rallied this past week. Why? Inflation is so high that the Federal Reserve must raise interest rates to stifling levels, so we’ll definitely get a recession. And that makes falling inflation inevitable, which means the Fed doesn’t have to be quite so aggressive, so we definitely won’t get a recession. Where things get interesting is...what was the question again? I asked Michael Mullaney what he makes of it. He’s the director of global markets research at Boston Partners, which manages close to $100 billion. He says the pace at which the Fed plans to bring down inflation has been accomplished twice before, in the mid-1970s and early 1980s, and it caused a recession both times. “My gut feel is that they may balk on their targets a little bit,” he says. “They may go to something like, ‘We’ve made substantial progress, and there are now still structural issues that we don’t have control over.’ ” If that happens, we might dodge a recession at the cost of still-pesky inflation. But Mullaney says that bonds look more appealing for the first time in years, and that some growth stocks have fallen to value levels. At the same time, marketwide earnings estimates look likely to fall. “It’s going to be a mundane time period for all investors, unless you’re a superior stock picker,” he says. I was shooting for meh, so mundane feels like upside. B email: [emailprotected]

R E VIEW

BARRON’S

31,500.68 Dow Industrials: + 1611.90

June 27, 2022

465.48

Dow Global Index: + 20.26

3.13%

10-year Treasury Note: - 0.11

Sentiment Upgrade

HE SAID:

Monday was a holiday: Juneteenth. Stocks advanced on Tuesday after a rough June, but slipped as Federal Reserve Chairman Jerome Powell warned of recession in congressional testimony. But then, as key commodities like copper fell, and the Fed crowd talked, sentiment improved and indexes rallied on the belief that the Fed might go easier on rates. The result: the first weekly gains in a month. On the week, the Dow industrials rose 5.4% to 31,503.71; the S&P 500 surged 6.4% to 3912.15; and the Nasdaq Composite soared 7.49% to 11,607.62.

“We can’t fail at this. We really have to get inflation down.” Federal Reserve Chairman Jerome Powell in House testimony

Crypto Chill

U.S. Housing, 300 K Hot to Not THE NUMBERS

Jersey and Florida are hot. Austin and Seattle are not. On Tuesday, home builder Lennar’s co-CEO Richard Beckwitt on an earnings call provided a tour of U.S. housing markets. “So far in June, new orders, traffic, sales incentives, and cancellations have worsened in many of our markets due to a rapid spike in mortgage rates and headwinds from negative economic headlines,” he said. Some markets have also seen seasonal slowdowns. Beckwitt listed 18 well-performing markets benefiting from low inventory, strong local economies, solid growth, and in-migration. “These include our six Florida markets, New Jersey, Maryland, Charlotte, Indianapolis, Chicago, Dallas, Houston, San Antonio, Phoenix, San Diego, Orange County, and [California’s] Inland Empire,” he said. Ten markets are in Category 2, with modest declines: Atlanta, Colorado, Charleston, Myrtle Beach, Nashville, Philadelphia, Virginia, the Bay Area, Reno, and Salt Lake City. “In each of these markets, traffic has slowed, and we’ve seen an uptick in cancellation rates,” he said. Then there are the seven in Category 3—locales with “more significant market softening and correction.” On the list: Raleigh, Minnesota, Austin, Los Angeles, California’s Central Valley, Sacramento, and Seattle. Austin had seen 40%-plus appreciation for two years, and Seattle was a top U.S. market, he said. Minnesota has been hurt by a lack of immigration, limiting the home-buyer pool. As for Lennar itself, its quarterly earnings ended in May were better than expected, and its shares closed 11.3% higher for the week at $71.79, but are down 38% for the year. — Andrew Bary

Number of public schoolteachers who left the field between February 2020 and May 2022, some 3% of the workforce.

10.3%

Growth in sales for JD.com’s midyear e-commerce shopping event in China, lowest since sales were first reported in 2017.

34%

Fall in price of a container shipped from China to the U.S., from the start of 2022.

8.2%

Decline in gasoline sold in early June from a year earlier, the 14th consecutive down week. To get Numbers by Barron’s daily, sign up wherever you listen to podcasts or at Barrons.com/podcasts

Bitcoin fell to $17,628 over the weekend, stirring fears of leveraged crypto bets forced to liquidate. Crypto hedge fund Three Arrows Capital failed to make margin calls and a key stablecoin, Tether, came under pressure. Bitcoin rebounded over $21,000 as the correlation with tech stocks faded. Crypto exchange FTX bailed out struggling crypto lender BlockFi with a $250 million credit line.

Gas, Guns, Jurisprudence President Biden asked Congress for a three-month gas and diesel tax holiday. The tax amounts to 18.4 cents a gallon for gas, 24.4 cents for diesel. Critics say the step will encourage driving and inflation. Separately, Congress passed the gun bill, even as the Supreme Court blocked New York State limits on carrying guns in public. A day later, the court struck down Roe v. Wade, 6-3.

The Banks Test Out With recession in the air, the Fed released results of stress tests, passing all 33 banks. The banks can begin releasing details of new dividend and buyback policies on Monday.

Ukraine Rope-a-Dope Ukraine pulled back from Severodonetsk, as Russian forces inched forward. Ukraine continued its counteroffensive in the south as both sides neared exhaustion. Russia continued to cut gas supplies to Europe. Germany reopened coal-fired plants and signed a deal with U.S. natural-gas supplier

Venture Global. Russia threatened Lithuania, which said it would block sanctioned goods moving across the country to the Russian enclave of Kaliningrad, and ran simulated missile strikes near Estonia. The EU accepted Ukraine for candidate status.

Annals of Deal Making JetBlue upped its offer for Spirit Airlines to $33.50 a share as Spirit weighed a competing bid from Frontier Group…Mondelez said it would acquire Clif Bar for at least $2.9 billion…Kellogg announced it was splitting into three: the snack-food business (Pringles, Cheez-It, Pop-Tarts), which generates 80% of sales; the cereal business, its original 116-yearold business; and a unit selling plantbased food (Gardenburger, Morningstar Farms)…Zendesk said on Friday that it agreed to be acquired by a buyout group that includes Hellman & Friedman and Permira for $10.2 billion. The software firm had been talking truce with activist Jana Partners and had said it wouldn’t sell...The Food and Drug Administration banned Juul vaping products in the U.S. Altria Group invested $12.8 billion for 35% of Juul in 2018; it has since written that down to $1.7 billion. Altria fell 4.2% for the week.

Illustration by Elias Stein; Win McNamee/Getty Images

SIZING UP LOCAL MARKETS

June 27, 2022

P R EV IEW

BARRON’S

Monday

The Census Bureau releases the durable goods report for May. Economists forecast that new orders for manufactured durable goods increased 0.2% month over month to $265.8 billion.

Monday 6/27 Jefferies Financial Group and Nike report earnings. The National Association of Realtors releases its Pending Home Sales Index for May. Consensus estimate is for a 99.3 reading, roughly even with April. “The latest contract signings mark six consecutive months of declines and are at the slowest pace in nearly a decade,” according to the NAR’s chief economist, Lawrence Yun.

Tuesday 6/28

MORE THAN 300 COMPANIES WAIT

Illustration by Elias Stein

Winter Has Fallen on IPOs The queue for initial public offerings is long, over 300 companies long. But precious few are proceeding: By June 17, only 47 companies, valued at $4.6 billion, had undergone traditional IPOs in 2022—74% below the same period in 2021, notes Dealogic. Most of the 47 have been tiny. Larger IPOs, valued at over $100 million, have been scarce. Eye-care company Bausch + Lomb, owned by Bausch Health, debuted in May with a $7 billion valuation; that’s now $5.4 billion. Bausch Health also expected to IPO its Solta Medical skincare unit but backed off. “No sizable IPOs are imminent in sectors which dominated the 2021 IPO calendar, including tech and healthcare,” says General Atlantic’s head of capital markets, Justin Kotzin. What’s needed to begin to restore confidence are larger, profitable (or nearly profitable) companies that trade well in the aftermarket. It could take awhile. Candidates that might fit this bill include grocery-delivery app Instacart and Intel’s self-driving unit, Mobileye. Also in the pipeline: Corebridge Financial; American International Group’s life and retirement business; KinderCare Learning Companies, which operates child-care centers; and Steinway Musical Instruments Holdings, backed by hedge funder John Paulson. Further out are Oracle-backed chip maker Ampere Computing, Thoma Bravo’s data-analytics firm Qlik Technologies, and social-media company Reddit. The bright side: CB Insights recently estimated there are over 1,000 unicorns, start-ups valued at more than $1 billion, globally. As Renaissance Capital’s senior IPO strategist Matt Kennedy says, “There’s a huge supply of potential deals, hundreds of unicorns, just waiting.” Get in line. — Luisa Beltran

Retreat from Risk Investor interest in IPOs, which topped out during the pandemic, has waned. Renaissance IPO Exchange-Traded Fund, 2021 to 2022, Year to Date $100 75 50 25 0 2021

2022

The IPO Cliff After two years of soaring IPO numbers, turbocharged by SPAC listings, the business has all-but collapsed. Number of U.S. IPOs, Traditional and SPACs, 2012 to 2022, Year to Date 1000

FedEx holds investor and analyst meetings over two days in Memphis. Hewlett Packard Enterprise hosts an investor meeting that will feature the company’s CEO, Antonio Neri. S&P Dow Jones Indices releases its CoreLogic Case-Shiller National Home Price Index for April. Home prices are expected to rise 21% year over year, which would surpass March’s record increase of 20.6%. Home-price appreciation has most likely peaked as the index reports data with a three-month lag. Nearly all forward-looking indicators suggest that the housing market is cooling significantly. The Conference Board releases its Consumer Confidence Index for June. Economists forecast a 101 reading, about five points less than May’s 106.4. The index is off sharply in the past six months as inflation remains top of mind for consumers.

Wednesday 6/29

800

0 2012 2014 2016 2018 2020 2022 Sources: FactSet; Statista; Dealogic

The Bureau of Economic Analysis reports personal income and spending data for May along with the Federal Reserve’s favorite inflation gauge, the core PCE, or personal consumption expenditures, index. Personal income is expected to increase 0.5% month over month, while spending is seen rising 0.2%. This compares with gains of 0.4% and 0.9%, respectively, in April. Consensus estimate is for the core PCE index—which excludes volatile food and energy prices—to jump 4.9% year over year, matching the April data. Both Wall Street and Main Street are hoping for signs that inflation is decelerating.

Friday 7/1 The Census Bureau reports construction spending statistics for May. Expectations are for a 0.3% increase in construction spending to a seasonally adjusted annual rate of $1.75 trillion. The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for June. Forecasts call for a 55 reading, slightly less than May’s 56.1.

Coming Earnings Consensus Estimate

Year Ago

$0.82

0.93

$-0.19

-0.27

-1.32 1.01

0.05 0.91

Nike (Q4) T

Beyond Air (Q4) W

Bed Bath & Beyond (Q1 ) General Mills (Q4) More earnings on page 59.

Consensus Estimate Consensus Est

Last Period

May Durable Orders

0.20%

0.48%

June Consumer Confidence

100.9

106.4

Q1 GDP

-1.5%

May Personal Income

0.50%

0.40%

Thursday 6/30

May Construction Spending

0.30%

0.20%

Constellation Brands, Micron Technology, and Walgreens Boots

For more information about coming economic reports - and what they mean - go to Barron’s free Economic Calendar at www.barrons.com

400 200

Alliance hold conference calls to discuss earnings.

General Mills, McCormick, and Paychex release quarterly results.

600

Day

Unless otherwise indicated, times are Eastern. a-Advanced; f-Final; p-Preliminary; r-Revised Source: FactSet

BARRON’S

June 27, 2022

BARRON’S

Combing Through The Cheapest Stocks

average of just 80% of year-end 2022 tangible book value. Builders are benefiting from growing demand from companies that rent out singlefamily homes. McCanless favors Horton, which generated an outsize 34% return on equity in the year ended in March. Horton shares, at $67, trade for four times earnings. McCanless says high-end home builders could be more insulated from rate hikes because of their affluent customer base. He favors small-cap builder Tri Pointe Homes (TPH), now trading around $16, or three times 2022 earnings. The luxury leader, Toll Brothers (TOL), trades around $44, or four times 2022 estimated profits and below book value of $46 a share. Some 20% of Toll buyers don’t need a mortgage; they pay cash.

At two to four times earnings, shares of home builders and steel makers discount disastrous downturns. There are plenty of bargains in both.

BY ANDREW BARY

ooking for the cheapest stocks in the market now? Two industries stand out: home builders and steel makers. Barron’s screened for the 10 stocks in the S&P 500 index, S&P Midcap 400, and S&P Smallcap 600 with the lowest price/ earnings ratios based on projected 2022 earnings, using consensus estimates from FactSet. Among the group of 30 stocks in the three indices, 14 were home builders and steel producers, all trading for just two to four times this year’s estimates. Many of the home builders also trade around book value. The common denominator in both groups is that investors don’t think currently robust earnings will last. The stocks discount disastrous downturns for both industries that are unlikely to materialize. Home-building stocks have fallen 40% or more this year. The losses in home builders’ and steel makers’ shares reflect a broad pullback in economically sensitive stocks. Yet, balance sheets have rarely been stronger for these industries, offering a financial cushion in a potential recession. While a doubling in mortgage rates to 6% is reducing housing demand, a prolonged and deep downturn seems unlikely, given strong demographic trends and limited supply. “The home builders are pricing in an Armageddon scenario and a repeat of the great financial crisis when home prices fell 30%,” says Stephen Kim, housing analyst at Evercore ISI. “The stocks are cheap and more than compensate for the risk.” Kim thinks they could double over the next year.

Bespoke Investment Group noted last week that the 40% decline in home-building stocks from their prior highs marked the sixth such drop in the past three decades. The average one-year gain following those declines has been 43%, with the only negative reading coming in 2006. Home-builder profits remain at record levels, as was apparent in Lennar’s (ticker: LEN) latest quarterly report. Lennar is the No. 2 U.S. home builder behind D.R. Horton (DHI). Lennar acknowledged that the market is softening, but Chairman Stuart Miller said land impairments, which hammered home builders during the 2008 financial crisis, were unlikely unless the market falls “an awful lot.” That reassured analysts and investors, and Lennar rallied, gaining 8%. At around $70 a share, Lennar trades for four times projected 2022 earnings and below its book value of $74 a share. Lennar and other builders have ramped up stock buybacks and boosted dividends this year. Wedbush analyst Jay McCanless says the stocks are trading for an

teel stocks are among the most volatile. The companies generally had record first-quarter results and guided to similar performance in the current quarter. Yet the stocks have been hammered on recession fears as steel prices, measured by hot-rolled coil steel, have fallen below $900 a ton from $1,500 earlier this year. Steel makers should still generate ample profits at current prices, suggesting the risk/reward is attractive. Alan Kestenbaum, the CEO of Canadian steel maker Stelco Holdings (STZHF), says the steel market is becoming “very challenging. Prices have been falling every single week.” The demand outlook is good. The auto industry, which accounts for 25% of U.S. steel demand, is operating below capacity due to chip shortages, and could boost production in

2023. Other key steel users, including infrastructure and energy, are also in good shape. One positive sign is industry consolidation. Four producers now account for over 80% of U.S. steel output. U.S. Steel (X), at $19, trades for under two times 2022 earnings. The company’s plan to build a big new “mini mill” for about $3 billion hasn’t played well with some investors, who would like to see more cash returned to shareholders. Cleveland-Cliffs (CLF), another big integrated steel producer, doesn’t have grand expansion plans and has a shareholder-focused CEO in Lourenco Goncalves. Its stock, at $16, trades for three times projected 2022 earnings. Industry leader Nucor (NUE), at $107, trades for four times earnings and yields nearly 2%. It has an attractive business mix but its capital allocation is questionable after it recently agreed to pay $3 billion for a maker of garage doors at a huge premium above its own valuation. Steel Dynamics (STLD), which, like Nucor, operates mini mills using scrap steel as an input, completed a major new mill this year in Texas. Its stock trades for $66, or three times earnings. Stelco operates a lucrative single blast-furnace mill in Ontario and may have the group’s most investororiented CEO in Kestenbaum. Stelco has boosted its dividend several times and bought back a lot of stock. The stock, at around $26, yields 3.6% and fetches just two times estimate 2022 earnings. Ultracheap stocks can offer nice upside potential and a margin of safety. Home builders and steel qualify. B

Priced for Disaster, Poised for Recovery Investors have dumped home-building and steel stocks on recession fears. Both groups offer substantial value. Company / Ticker

Recent Price

YTD Change

2022E EPS

-41%

2022E P/E

2023E P/E

Dividend Yield

Price/Book

Market Value (bil)

Home Builders D.R Horton / DHI*

$17.14

3.7

4.0

1.4%

1.3

$22.6

Lennar / LEN**

$64.08 67.66

-42

16.86

4.0

4.3

2.2

1.0

19.6

Toll Brothers / TOL***

42.41

-41

10.22

4.2

3.8

1.9

0.9

4.9

None

Steel Makers Cleveland-Cliffs / CLF

$16.27

-25%

$5.77

2.8

4.4

1.4

$8.5

Nucor / NUE

107.84

-6

26.36

4.1

8.4

1.9%

1.9

28.7

Stelco Holdings / STZHF

26.34

-19

11.62

2.3

5.9

3.6

1.6

1.9

Steel Dynamics / STLD

67.40

20.37

3.3

6.3

2.0

1.8

12.7

U.S. Steel / X

19.07

-20

10.20

1.9

5.4

1.1

0.5

*Sept. fiscal year end **Nov. fiscal year end ***Oct. fiscal year end; E=Estimate

5.0 Source: Bloomberg

BARRON’S

Why Starbucks Stock Looks Ready to Run Shares of the coffee purveyor have dropped 33% in 2022, but as Howard Schultz returns as CEO, the worst of its problems may be behind it.

BY JACOB SONENSHINE

sequel is seldom as good as the original, and the less said about the sequels to sequels, the better. Howard Schultz, the former CEO who recently returned to helm Starbucks, may be the exception—offering investors a reason to buy the beaten-down stock. Shares of the Seattle-based company have dropped 33% in 2022, on pace for its worst year since 2008. Starbucks (ticker: SBUX) has been hurt by the possibility of slowing growth for its rewards program and unionization efforts at its stores, as well as China’s economic slowdown and the U.S.’s soaring inflation, which have added to costs. The possibility of a recession only adds to the

list of worries investors have about the company’s prospects. Enter Schultz, who returns to Starbucks just four years after leaving. Schultz purchased the company in 1987 and created what we know as the modern Starbucks, masterminding its rise from a corner coffeehouse to an international chain with a coffeehouse seemingly on nearly every corner. From 1992, the company’s first year as a public company, to 2000, the end of his first stint at the helm, the stock returned 37.7% annually, compared with the S&P 500 index’s 19.7%. Schultz came back as CEO in January 2008, and the stock returned an annualized 18.2% through his departure in June 2018, outpacing the S&P 500’s 8.9% return. Now Schultz is back again—he announced his return in April—and ready to tackle Starbucks’ problems head-on.

A Starbucks mobile coffee cart in Hangzhou, China. The country lifted some of its Covid-related restrictions in May.

June 27, 2022

The last time Schultz returned, he slashed costs to get the company through the 2007-09 recession. Starbucks could use his budgeting skills yet again. For its fiscal year 2022, which ends in September, the company is expected to see its costs of sales, which include wages and commodities like coffee beans, rise 30%. In May, the company said it would see $200 million in additional expenses from investments in wages, employee training, and technology within the next several months, which analysts say will amount to more than $500 million in added annual costs in 2023. Still, this isn’t 2008. Costs aren’t going to come down, but the worst of the increases should be past. And Schultz, for his part, knows he needs to be willing to invest for growth even if it means looking past some nearterm pain. Schultz should get some help along the way. The good news starts in China, which has been a trouble spot for Starbucks. While same-store sales in the world’s second-largest economy fell 23% year over year during the second quarter, China lifted some of its Covid-related restrictions in May. Starbucks’ sales in the country— which accounted for $4 billion, or 12% of its total sales, over the past 12 months—should start to improve and might even return to pre-Covid levels by the first half of 2023. “China was a mess, and all of a sudden you have a China reopen story,” says Stephanie Link, chief investment strategist at Hightower Advisors, which owns the stock. Starbucks should also continue to see a recovery in the U.S. Store traffic remains about 10% below prepandemic levels, according to Evercore ISI estimates, and continued improvement should help sales in the U.S., lifting overall revenue to an estimated $32.3 billion in 2022. Starbucks also highlighted its “consistent pricing power” on its second-quarter conference call in May, which has allowed it to raise profits in North America. In total, analysts expect Starbucks’ sales to grow another 10%, to $35.6 billion, in 2023. But growing sales won’t help much if Starbucks can’t turn more of its revenue into profits. Analysts expect the operating margin to rise to 15.8% in 2023 from 14.8% in 2022. That would put it on a path back to 2021 levels, when margins were around 18%, as costs should start to decelerate, even as the company continues to spend on

growth. “Expensed investment will be relatively modest when compared with this year’s...inflation impact to U.S. margins,” writes Evercore analyst David Palmer. Earnings per share are expected to fall to $2.89, down 11% from $3.24 in 2021, but should increase 20% in 2023, to $3.47. And if fixed costs remain mostly in check, EPS could grow 15% annually to $4.38 by 2025. If Starbucks can hit those numbers, the stock could be, if not a bargain, at least quite compelling at current valuations. It trades at just over 22 times 12-month forward earnings, near its lowest level since 2020 and below its five-year average of 27.3 times. Closing that gap to 25 times 2024 earnings would put the stock at $98, up 25% from Friday’s close of $78.11. “It’s pretty cheap compared with where it’s traded historically,” says Credit Suisse analyst Lauren Silberman, who calls 25 a “fair” valuation and has an Outperform rating and a $103 price target on the stock. Whether those gains materialize depends on Schultz. He needs to make immediate investments—like spending on training baristas for new store configurations—while continuing to grow the Starbucks Rewards program, whose members spend two to three times as much as nonmembers each year. Silberman, for one, says membership could hit more than 70 million in the next few years, up from just under 30 million now. Schultz will get a chance to lay all this out at Starbucks’ investor day on Sept. 13, when the company should provide updated long-term guidance. That could really provide a jolt for the stock. B

Decaffeinated Starbucks stock is lower than it was three years ago. Starbucks (SBUX / Nasdaq) $130

110 90 70 50 2020 Source: FactSet

’21

’22

June 27, 2022

BARRON’S

S I Z I N G U P S M A LL- CA P S

A Bet on Re-Funding Police Departments Law-enforcement budgets are increasing, along with demand for products cops use to do their jobs. Cadre Holdings is ready to capitalize.

By NICHOLAS JASINSKI

Courtesy of Safariland

ichelle Pratt, an officer with the Salem, Ore., police department, was in the middle of a traffic stop in 2019 when the driver pulled out a gun and shot her four times. Pratt, 53, says the fourth bullet hit her body armor, an inch from her spine. “I had been putting that vest on for seven years, but I never really thought twice about it until I realized it saved my life,” she says. “Had I not had my vest on, I don’t know where I would be today.” Pratt’s vest was made by Safariland, a division of Cadre Holdings (ticker: CDRE), a growing company primed to capitalize on a renewed emphasis on funding the police. The company manufactures and sells a range of equipment to police departments and other

public safety agencies. In addition to bulletproof vests, that includes handcuffs, holsters, radios, and body armor and specialized gear for SWAT teams and bomb squads. Cadre says it is one of the top suppliers in almost all of its niche product categories, and that the average police officer’s 20 to 30 pounds of equipment costs some $1,800. After all the debates over crime and policing in the U.S. over the past two years, funding police is suddenly back in vogue. President Joe Biden’s fiscal 2023 federal budget request to Congress includes an 11% increase in funding for federal, state, and local law-enforcement agencies over the prior fiscal year, to $20.6 billion, including spending earmarked for hiring more police. The New York Police Department, the nation’s largest, hasn’t lost a dime of funding over the past two years and under the past two mayors. The Los Angeles Police Department saw fund-

A SWAT team officer wearing a Safariland HyperX Tactical Carrier. It’s one of Cadre’s brands.

ing increase in the city’s current budget, reversing cuts made a year earlier. San Francisco; Baltimore; Washington; Oakland, Calif.; Austin, Texas; and Philadelphia have increased police budgets or kept them constant over the past two years. There were about 795,000 police officers and detectives in the U.S. in 2020, according to the latest data from the Bureau of Labor Statistics. The BLS expects that to increase by 7% through 2030, about in line with its estimate of overall U.S. job growth. Those new officers and expanded budgets mean more demand for the equipment and gear they require to do their jobs. Cadre, based in Jacksonville, Fla., has its roots in the 1960s. Its current iteration began with a 2012 carveout from British defense contractor BAE Systems (BA.UK), with Cadre’s CEO and Chairman Warren Kanders reacquiring portions of the business in which he had first invested in the 1990s. Cadre has made 14 acquisitions since then, and installed a management team led by former executives from General Electric (GE), Danaher (DHR), and IDEX (IEX). Cadre is a rare successful 2021 IPO. Its shares have gained almost 50% since listing in November at $13. The stock rose as high as $28 in early June, as Cadre reported three solid quarters of earnings and made two acquisitions—before the announcement of a secondary offering at $23.50 a share sent it tumbling to a recent $19. Investors who missed the initial rally now get a second swing. The roughly $50 million in proceeds from the secondary offering will go toward acquisitions of complementary products. Cadre is already a big fish in a small pond, and that gives it pricing power. The company boasts relation-

Cadre Holdings CDRE/NYSE $26

14 Dec. 2021 Source: FactSet

’22

May 2022

“If police forces or the federal government weren’t in need of those products, we wouldn’t sell them.” Cadre CEO and Chairman Warren Kanders

ships with 23,000 police departments, federal agencies, and public safety departments in the U.S. and abroad. Kanders, who owns some 49% of Cadre, calls the company a “proxy” for public safety, and emphasizes its focus on keeping police officers safe. It’s a noncyclical, high-profit-margin business with ample free cash flow, low capital expenditure needs, and 80% of sales from products that have fourto-10 year replacement cycles. The stock has a dividend yield of 1.6%. Cadre has a market capitalization of about $700 million, and trades for less than 10 times enterprise value to next year’s forecast of $84 million in earnings before interest, taxes, depreciation, and amortization, or Ebitda. That compares with 14 times for MSA Safety (MSA), a larger and more diversified company focused on equipment for firefighting, construction, and utilities. In 2021, Cadre had net income of $13 million, or 44 cents a share, on revenue of $427 million. Analysts expect revenue to climb to $446 million this year and $477 million in 2023, with pershare earnings more than doubling to $1.08 in 2023 from a projected 49 cents a share this year. Wall Street has an average price target of $27 on Cadre stock, up 40% from current levels. Cadre doesn’t make firearms or other weapons like tasers. It does sell what it calls “crowd control products”—aka tear gas. Aggressive use by some police during protests over the past two years prompted two U.S. House subcommittees to investigate the safety of tear gas, and both have requested information from Cadre. Kanders resigned from the board of New York’s Whitney Museum of American Art in 2019 amid picketing by demonstrators and opposition from the museum’s employees and artists over Cadre’s sales of tear gas used at the U.S.-Mexico border. “If police forces or the federal government weren’t in need of those products, we wouldn’t sell them,” Kanders says. “[Our] goal is to provide law enforcement with the equipment they need to do their jobs.” B

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June 27, 2022

BARRON’S

Carvana and the ‘Undriveable-Car Task Force’ Carvana sought to disrupt the used-car market. Sales soared, but then came the less glamourous business of actually registering the cars. BY JAC O B A D E L MA N PHOTOGRAPH BY JUSTIN CALHOUN

T Terri Burton and her son Jason at their home in Corpus Christi, Texas. The family purchased a vehicle from Carvana in 2021 that was ultimately returned after the company never registered the vehicle in Burton’s name.

erri Burton wanted to do something special to mark her son’s high school graduation, so she bought him the car of his youthful dreams: a Volkswagen Golf GTI. But the purchase was the start of a nightmare. Within months of getting the car, her son, who has autism, was stopped twice by police in their South Texas town because Carvana (ticker: CVNA), the company that sold the car to Burton, hadn’t registered the vehicle in her name, she says. It wasn’t until almost six months later that Burton learned the reason for the registration delay: Carvana couldn’t transfer the car’s ownership to her because the company—officially, at least—hadn’t owned the car. Problems with the paperwork from Carvana’s earlier purchase of the car for resale were keeping it from getting official ownership, or title, to the vehicle, a Carvana customer-service agent explained in a tense phone call late last year that Burton, of Corpus Christi, recorded. “It was horrible,” says Burton,

whose son had panicked each time he was pulled over by officers suspicious of the temporary out-of-state license plates that Carvana had been issuing for the 2017 hatchback in lieu of providing permanent Texas ones. “This was my gift to my son, and they messed it up so bad.” The Burtons were among thousands of families that purchased cars from Tempe, Ariz.–based Carvana during the pandemic, when the company thrived by taking on traditional dealers with a web-enabled, highly scalable approach to vehicle sales. Carvana’s used cars often arrive at customers’ homes with the same convenience as Amazon-delivered paper towels. Customers can also pick up cars from Carvana’s multistory glass towers, which are designed to dispatch vehicles like cans of soda from a vending machine and include ceremonial coin slots. But as the economy has reopened, Carvana’s efforts to resume its torrid pandemic-era sales pace have been complicated by an inconvenient side effect of the growth: In its haste to seize market share from competitors,

Carvana was selling cars faster than it could get them registered to their new owners. Disgruntled Carvana customers have long shared their gripes about registration delays and other issues— including late deliveries, undisclosed vehicle damage, and missing accessories—on online message groups and to the media. Barron’s interviews with Carvana customers and former employees shed light on why registrations were delayed and how state regulators have tried to address the issue. The reporting reveals a company scrambling to address the problem, at one point forming an ad hoc unit known as the “undriveable-car task force.” Carvana says many of the delays involved internal paperwork problems, including errors on title documents, missing documents from buyers, and slow work by third-party registration services and state motor vehicle agencies. In other instances, though, including Burton’s, Carvana sold cars before it had title to the vehicles, an action that is illegal in many states where the

company does business. Carvana said in a response to questions for this article that very few of its customers experienced registration delays, and that only a small number of these delays were the result of the company selling cars before it had title. The company says its record should be viewed in light of the many purchases and sales it makes, and the challenges of operating during the pandemic. Carvana sold more than 425,000 cars to retail customers in 2021, up 74% from a year earlier. “Carvana, like many dealers over the past two years, has in limited instances encountered challenges processing title and registration paperwork for its customers after the sale,” the company says. “In a very small percentage of a very small percentage of instances, customers did not receive permanent license plates or transferred title within the time frame set forth by the respective states.” Interviews with state officials and former Carvana employees show the issue is wider-reaching than the company suggests. Burton and other customers, meanwhile, are lining up to challenge Carvana in a lawsuit filed in U.S. District Court in Pennsylvania that alleges some of the company’s customers went years without being able to legally drive vehicles they paid for. The suit, for which class-action status is being sought, identifies about two dozen potential plaintiffs. And state regulators across the U.S. have been subjecting the company to suspensions or increased oversight over registration delays and its practice of issuing multiple temporary license plates from states where it has dealer’s licenses, instead of promptly providing permanent ones. Carvana insists the lawsuit has “no substantive merit.” Its attorneys have sought the suit’s dismissal, arguing the claims should be handled through arbitration under plaintiffs’ original sales contracts with the company. A judge in Easton, Pa., is deliberating on whether to let the case proceed. Carvana says the regulatory issues focus on a relatively small number of sales from 2020 and 2021. “We’ve had productive conversations with regulators in all of those states and feel very confident about our operations going forward,” it says.

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Melody Postoy was issued two separate temporary plates during the first 2½ months after she bought her Lexus sedan, left, from Carvana. Terri Burton received three temporary plates over eight months for the Volkswagen Golf GTI, right, that she bought for her son.

he scrutiny comes at a difficult time for Carvana, which has seen flagging sales, steep losses, and a stock that’s down more than 90% from an August 2021 peak. Carvana CEO Ernie Garcia III has vowed to slash some $125 million in spending, including laying off around 2,500 employees, or about 12% of the company’s staff, in May. At the same time, Carvana is rushing to turn its recent acquisition of Adesa U.S., the country’s second-biggest car-auction business, into a new leg of growth. The $2.2 billion purchase, financed with high-interest debt, gives Carvana a national network of parking lots and garages that it says will be used to recondition hundreds of thousands more vehicles each year for resale. Carvana was founded in 2012 as an online-focused subsidiary of DriveTime, a used-car business owned by Garcia’s father, Ernie Garcia II. The elder Garcia grew DriveTime out of an earlier used-car company, Ugly Ducking, which he purchased in 1991, the year after he pleaded guilty to a felony bank-fraud charge related to the implosion of Charles Keating’s Lincoln Savings & Loan Association. Prosecutors accused Garcia II of posing as a borrower on a fraudulent mortgage from Lincoln that generated bogus profits for the bank in return for getting a loan for his own real es-

June 27, 2022

tate business. He was sentenced to three years’ probation. Garcia and his real estate business later filed for bankruptcy. Garcia III, the son, spun Carvana off into its own business with himself at the helm in 2014. He and his father remain the company’s largest individual shareholders. The younger Garcia soon began erecting the company’s trademark “vending machine” towers in cities throughout the country. Carvana went public on the New York Stock Exchange in 2017. The initial public offering valued the company at roughly $2 billion. From its earliest days, Carvana emulated West Coast tech companies that aimed to disrupt established industries with new, online business models. CEO Garcia openly compared the company’s approach with that of Amazon.com (AMZN), and its motto for employees—“Your next customer may be your mom”—echoes the e-commerce giant’s customer-centric business ethos. There were also quirky, Silicon Valley–style workplace perks. For their one-year work anniversaries, some employees were given Allbirds— the woven wool sneakers favored by West Coast tech entrepreneurs— marked with the car dealer’s logo, a halo hovering over a sedan. Meanwhile, Carvana’s custom-built

headquarters in a Tempe business park includes a room known as “the library” with leather chairs, a woodpaneled ceiling, and book-lined shelves that slide away to reveal a cocktail bar in a secret nook. It was largely stocked with bottles from Costco’s in-house Kirkland brand, one employee says. But Carvana’s biggest similarity with the tech start-ups may be its willingness to burn through cash in a race to displace old-line incumbents and outpace potential competitors. In its quarterly earnings reports, Carvana repeatedly posted net losses, even as Garcia assured investors that the company was forging ahead on a path toward profitability. “We wanted to build a paradigmshifting company,” he told analysts in May 2018, about a year after the company’s initial listing. A couple of years later, as the coronavirus pandemic began rewiring the economy, Garcia was delivering on that promise. Car buyers across the country found themselves flush with stimulus cash they could put toward down payments on vehicles. Carvana’s online model was a perfect fit for quarantines and concerns about in-person contact. During the three months ended June 30, 2021, as the country muddled through a second spring in the pandemic’s grasp, Carvana posted its

Courtesy of Melody Postoy (left) and Terri Burton (right)

June 27, 2022

first, and only, net quarterly profit. By that August, Carvana’s stock traded at $377, giving the company a market value of more than $60 billion, larger than older publicly traded peers CarMax (KMX) and AutoNation (AN) combined. In January of this year, Carvana announced the sale of its one-millionth car, casting the event as a key milestone in its quest to become the country’s largest auto retailer. CarMax, the current No. 1 auto dealer, sold more than 924,000 cars to retail customers in its latest fiscal year. “Carvana’s mission is to change the way people buy and sell used cars by creating a transparent, simple, and enjoyable customer experience,” the company said at the time. “The auto industry is fragmented—and that means there’s ample room to grow.”

hortly after Carvana opened its 28th vending machine tower in early 2021 near the Las Vegas Strip—there now are 33—JD Decker, the Nevada Department of Motor Vehicles’ chief lawman, was patrolling the desert metropolis when he stopped a car for driving with an expired temporary license plate from North Carolina. The driver told Decker he’d been getting one temporary license plate after another from Carvana, and was waiting for the next one. He showed Decker a stack of expired temporary plates from around the country he’d burned through. “He probably had about 10 different states represented,” Decker says. “He had the car for about a year and there was a problem with the title, so they just kept sending him temp tags from all over.” Former Carvana employees say this was standard procedure by then: The company had started encountering delays in getting vehicles registered to its buyers, so it would use its dealer licenses across the country to issue temporary plates from multiple states to customers. “You might end up with a Tennessee temporary plate for 45 days, then an Ohio temporary plate for another 30 to 45 days,” says a former senior member of the department at Carvana’s Tempe headquarters that responds to the most serious customer complaints, known as the executive resolution team. “Customers would end up getting

BARRON’S

sometimes four to six different temporary plates from multiple states,” says the former staffer, who was laid off by the company after almost two years in April following a dispute over workplace accommodations for a disability. He asked not to be identified, citing ongoing litigation with the company over his dismissal. Some of the sanctions levied by states in recent months cite the improper furnishing of temporary outof-state plates. Carvana says it has “had a number of productive and helpful conversations with regulators across the country” on the topic of out-of-state plates and is “very confident in our processes going forward.” By early 2021, Carvana was staffing up to deal with title issues. That’s when Thomas Hollingsworth joined what he was told was a newly formed titles department at the Tempe headquarters tasked with solving issues that were keeping cars from getting registered to their new owners. Until he left the department for another role at Carvana that August, Hollingsworth—who has also since left the company—spent his days on the phone with banks, state motor vehicle departments, and former owners working to fix paperwork snags. “I would come in at 7 a.m. and I would leave around 2:30 p.m., and the whole day was basically running through these titles,” he says.

temporary plates that were now expiring, leaving them to languish, undriveable and parked outside new owners’ homes, says Berger, who wound up leaving the company days later, shortly before the layoffs. Asked about the undriveable-car task force, Carvana says that its “internal teams have done an incredible job solving unprecedented business process challenges associated with a global pandemic in real-time.”

During a period of heavy hiring that fall, Carvana established a new category of staffers called “paperwork specialists” to better manage the documents that flowed in and out of the company with the cars it bought and sold, says a former member of the auto dealer’s recruiting team. The paperwork specialists were entry-level workers making $15 an hour who were sent out in the field after two weeks of rudimentary instruction, says the former recruiter, whose job was among those lost in the May layoffs and who asked not to be identified for fear of reprisal. Carvana says it strongly disagrees with the recruiter’s characterizations on pay and training. “As a growing business with a novel model, we constantly create new roles and adjust existing ones,” the company says. “We’ve been fortunate to hire a number of great people in all roles.” But Carvana’s sense of urgency surrounding the title-transfer issues may be most apparent in its formation of the undriveable-car task force in May. Samantha Berger, another former member of the executive resolution team, says three of her colleagues were pulled aside for specialized vehicle-registration training early that month and given a “giant spreadsheet” of cars. The cars were ones that Carvana had been keeping on the road with

rom his perch in Carvana’s titles department, Hollingsworth says he was able to see where the company’s process went wrong: Sometimes cars got sold off its lots around the country before document handlers in Tempe had time to finish getting the cars’ titles transferred to Carvana. No states are known to have sanctioned Carvana over the practice of selling vehicles without holding title, but in multiple states where Carvana does business—including Texas, Pennsylvania, Michigan, and Illinois—regulators say it’s illegal in most cases to do so. While some traditional used-car dealers concede it isn’t unheard of to sell vehicles before holding title, most do so only sparingly, and only if they’re sure they’ll obtain title quickly enough not to cause registration delays for their buyers, according to Jonathan

Overdrive

Going in Reverse

Spurred by heavy investment and an online-focused approach, Carvana has become the nation’s No. 2 auto dealer.

Carvana shares have given up all of their pandemic-era gains.

2021 U.S. Total Car Sales

CVNA / NYSE $400

AutoNation / AN 567,000

300

CarMax / KMX 1.63 Million 200

Carvana / CVNA 595,000 100

Lithia Motors / LAD 536,000

Group 1 Automotive / GPI 268,000 0 2018

Note: Sales include retail and wholesale. CarMax sales for fiscal year ended February 2022. Source: Bloomberg

Source: FactSet

2019

2020

2021

2022

Chariff, CEO of the South Motors auto group in Miami. Florida requires dealers to possess a vehicle’s title, or some other evidence of ownership, before making a sale, a state motor vehicle department spokesman says. Carvana says that “for a limited time period, Carvana offered a small percentage of cars for sale prior to receiving the paper certificate of title,” but that “when viewed in totality, the cars for which the paper certificate of title hadn’t arrived at time of sale were a very small percentage of Carvana’s sales.” Furthermore, Carvana says it only sold cars without a title “in the states where such practice is permissible.” However, customers in states where it is illegal tell Barron’s that they learned from Carvana that it sold them cars without holding the titles. Those customers include Burton, the Texas woman who bought the Volkswagen hatchback for her son. Another Carvana customer, Melody Postoy of Glendale, Ariz., another state where the practice is barred, traded in her Lexus for a later model in late December. About 2½ months later, the last of the temporary plates Carvana provided her expired, leaving her unable to drive the car, she says. She spent hours on the phone with customer-service agents who offered constantly shifting excuses for why Carvana had been unable to get her registered as the vehicle’s owner. One agent attributed the problem to difficulties with title transfers across state lines. Postoy says this surprised her, since a vehicle history report she reviewed showed that the car had always been registered in Arizona. In April, when Carvana agreed to reclaim the vehicle for a refund, the agent Postoy spoke with to arrange pickup offered a different excuse. “They told me they were having issues getting ahold of the title,” Postoy says. When asked about such anecdotes in states where vehicles may not be sold without holding title, Carvana said it didn’t want to discuss specifics of its legal analysis. Even in states where selling vehicles without title isn’t prohibited, registration delays have caused problems for Carvana’s customers. One potential plaintiff in the proposed class-action suit, a hospital lab assistant in North Carolina named William Stalls, bought a 2012 Hyundai Sonata from Carvana in January 2021.

BARRON’S

Carvana has 33 “vending machine” towers across the country, where customers can pick up cars that they purchase online. The company can also deliver cars directly to buyers’ homes.

Over the next 12 months, Stalls was issued temporary plates from Georgia, Tennessee, Arkansas, and Arizona, the lawsuit alleges. While driving with one of those plates, police pulled him over for speeding and found in a database that the car was still registered to a prior owner, according to the complaint. “Despite Stalls showing the officer his sale paperwork and explaining he was waiting for permanent tags from Carvana, Stalls was arrested and confined to jail for eight hours before posting bond,” according to the suit. An attempt to reach Stalls was unsuccessful. Attorney Robert Cocco, who filed the lawsuit, declined to comment on the case. Asked about the Stalls case, Carvana reiterated that the lawsuit had no merit.

n February, a month after celebrating the sale of its first one million cars, Carvana disappointed investors with an earnings report that showed sales flattening in the fourth quarter of 2021 after their pandemic-era boom. “It is an understatement to say a lot

has changed about our environment,” Garcia said three months later in his employee letter announcing layoffs. Inflation was squeezing consumer savings, car prices had soared, and the company was dealing with mounting debt as a result of its Adesa acquisition. Carvana was also facing scrutiny from state motor vehicle agencies over the company’s failure to meet vehicle registration deadlines and the use of out-of-state permits by its customers. Early this year, Pennsylvania officials suspended the company’s license to issue temporary permits at its two vending-machine towers in that state, in Philadelphia and near Pittsburgh, citing late document submittals, “improper issuance and verification of temporary Pennsylvania plates in other states,” and other violations, Pennsylvania Department of Transportation spokesman Diego Sandino said in an email. The suspension at the Philadelphia location is active until August, Sandino says. The location near Pittsburgh is suspended for three months after it comes into compliance, which as of

June 27, 2022

late May it hadn’t yet done. The Pennsylvania actions came in response to “temporary technical operational challenges that have since been corrected,” Carvana says. “This does not impact our ability to sell cars in Pennsylvania.” The company is still able to issue temporary license plates in the state through a third-party licenser, it says. Issues related to late title transfers and the use of out-of-state plates have also resulted in increased oversight in Illinois, where the company was forced to cease business entirely for about two weeks in May. A suspension in a North Carolina county ended in January, though the company remains on probation in another North Carolina county. Carvana’s license is also on probation in Michigan over registration issues. “Carvana is confident in and proud of our current title and registration operations,” the company says. “We have productive conversations with regulators in every state where we operate and are very confident that our current operations are designed to meet state standards.” Even Carvana’s home state of Arizona has clamped down on the company’s operations after officials there received more than 80 complaints about the company over a four-year period, says Arizona Department of Transportation, or ADOT, spokesman Bill Lamoreaux. The complaints revolved around “such issues as missing, delayed, and altered title and registration documents, contract discrepancies, significant odometer discrepancies, and incomplete emissions at the time of sale,” Lamoreaux says. Carvana often used temporary license plates from Arizona, according to customers and former employees. The state allowed car dealers to issue temporary plates even for sales that occurred in other states, according to Lamoreaux. Last month, Arizona canceled that program after discussions with Carvana, he says. Lamoreaux declined to provide further details, citing open investigations into Carvana’s registration practices. “ADOT tries to accommodate businesses like Carvana with their unique online business model as best we can,” Lamoreaux says. “But for consumer protection, we need to make sure that all car dealers operating in Arizona are following state laws.” B

Patrick T. Fallon/Bloomberg

June 27, 2022

BARRON’S

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BARRON’S

FOLLOW-UP

The good news is that the auto sector is pricing in recession—full stop. GM is cheaper now than it was through the pandemic.

GM Stock Has Been Rocked. Its EV Future May Be a Steal. Inflation and recession have rocked General Motors’ shares. But the case for its ambitious electric-vehicle program remains impressive. By AL ROOT

nflation, rising interest rates, and recession fears have all conspired against General Motors stock. Its shares are still worth owning. Barron’s recommended buying General Motors (ticker: GM) stock in early May. The timing wasn’t great. GM shares are off 14% since the call, more

June 27, 2022

than double the S&P 500’s 6% decline. The macro headwinds were well known at the time, but they’ve all gotten worse since then. Inflation fears have escalated; the Federal Reserve has picked up the pace of rate hikes, which could hurt demand for new cars purchased with financing; and fewer people think about buying cars when they’re worried about losing their jobs.

Given all that, fewer investors want to own car stocks. GM has suffered, but no more than Ford Motor (F). whose shares are down 17%, or Tesla (TSLA), whose stock is off 16%. The good news for value investors is that the auto sector is now pricing in a recession—full stop. GM stock, at about five times 2023 earnings estimates, is cheaper now than it was through the depths of the pandemic. Based on that alone, it would be a terrible time to abandon ship now. What’s more, GM offers investors a free call option, Wall Street jargon for a big “what if?” What if even a part of GM’s plans for electric vehicles, self-driving cars, and softwarebased services works? Then the stock is a steal. GM is spending about $35 billion between 2021 and 2025 to design and build EVs. That’s as aggressive as any

“We’re going to be the leader by middecade… because we’re just going to have a broader portfolio.” GM CEO Mary Barra

traditional auto maker vying for EV share. What’s more, GM has partnered with battery makers, chemical companies, and raw materials suppliers to ensure its EV supply chain is in industry-leading shape. The company hopes all that will yield a million annual EV sales in North America by 2025. “We’re going to be the leader by mid-decade…because we’re just going to have a broader portfolio,” GM CEO Mary Barra told Barron’s recently. After a slower-than-hoped-for start in electric vehicles, things are looking up. GM just unveiled its ultraluxury Cadillac EV, dubbed Celestiq, and is showing off the Cadillac Lyriq SUV, priced like Tesla’s Model Y. Those models join the Chevy Bolt, Silverado, Blazer, and GMC Hummer truck. That’s an impressive lineup—one worth paying an ultralow price for. B

F S , dear friend, mentor, colleague, Founder and Chairman of the company that bears his name, passed away on May 28, 2022.

Fayez S. Sarofim 1928-2022

As an Egyptian immigrant at the age of 17, Fayez came to the United States to attend college at the University of California, Berkeley, and he subsequently received an M.B.A. from Harvard Business School. After a stint at Anderson, Clayton & Co., he founded Fayez Sarofim & Co. in 1958 as a private, independent investment management company, which it remains today. Throughout his career, Fayez made a huge impact on many, both personally and professionally, and his wisdom, optimism, patience, generosity and thoughtfulness will forever set a standard for our company to follow. Fayez believed in having a long-term and patient approach to managing money and maintaining an unwavering focus on investing in leading, high-quality companies. Most importantly, he believed in putting our clients first, and he found fulfillment in helping individuals and institutions accomplish their investment objectives. Over the years, Fayez instilled these core values into all of us, and we will continue to honor his legacy and vision by integrating these principles into the foundation of everything we do at Fayez Sarofim & Co., both now and in the years to come.

June 27, 2022

FUND PROFILE

BARRON’S

Talking With Bill Bellamy Manager, Transamerica Multi-Asset Income

A Safer Way to Play Stocks

ill Bellamy thinks most investors get high-yield bonds wrong. “High-yield is very much a misunderstood asset class,” says Bellamy, the manager of the Transamerica Multi-Asset Income fund (ticker: TSHIX). “The lion’s share of the risk that you’re taking in high-yield is actually correlated more to equities. So, when we do the analysis in high-yield bonds, it’s a very equity-like analysis.” The $626 million fund has the flexibility to invest in stocks, bonds, and preferred stocks for income. But given the fund’s high-yield debt exposure, Bellamy considers it a lower-risk version of a stock fund. For instance, the fund has 61% of the downside capture of the S&P 500 since its March 2014 inception—so when the stock market was down 10%, this fund fell only 6.1%. Although Morningstar puts the fund in the Allocation–50% to 70% Equity cate-

By LEWIS BRAHAM

Photograph by BOBBY BRUDERLE

gory, Transamerica compares it to the S&P 500 index on its website. “What we wanted to avoid were investors getting into this fund thinking it was more of a fixed-income investment than an equity investment,” Bellamy, 57, says. “But determining the benchmark is always difficult.” The goal has always been to provide more income and less downside than stocks, and in this strategy the fund has excelled. Transamerica Multi-Asset Income has beaten 91% of its 50% to 70% Equity category peers with a 7.1% five-year annualized return. Its current 3.9% yield is also attractive. During 2022’s rout, the fund is down 13.8% versus a 15.7% decline for its category peers and the S&P 500’s 22.4% drop. The fund’s 0.72% expense ratio is average for its category. Although TSHIX is technically the institutional share class of the fund, it can be purchased for a $2,500 minimum investment at Charles Schwab. Meanwhile, Fidelity offers the A-share class (TASHX), which has a

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June 27, 2022

BARRON’S

slightly higher expense ratio of 0.98%, without transaction fees or loads. Having graduated from Cornell University in 1987, Bellamy got his start at broker Merrill Lynch on the sales side. “The thing I didn’t like about the sell side is you don’t really take much ownership in what you do,” he says. Bellamy went back to school, got his M.B.A. from Duke University and ultimately his Chartered Financial Analyst designation. He became a buy-side money manager of private accounts in 2000 at Trusco Capital Management. In 2002, Bellamy joined investment manager TSW, which is the subadvisor to this fund, as a high-yield bond fund manager in the firm’s Richmond, Va., office. But after the 2008-09 market crash, he realized stock investors needed more defensive options. “We had clients come to us and say basically two things,” he recalls. “‘We don’t want to live through a 40% drawdown in the S&P 500 again, and we need more income.’” Eventually, TSW pitched the idea to Transamerica to subadvise a fund that would yield three to five percentage points more than the S&P 500’s dividend yield— but with less volatility. High-yield bonds are less sensitive to interest-rate increases like the ones the Federal Reserve recently executed. Bond prices move inversely to rates, but the highest-yielding ones tend to move less. This is why Bellamy says high-yield bonds are more equity-like in their behavior: They respond more to stock price moves and overall credit quality of their corporate issuers than to interest rates. If the equity of a high-yield issuer is

Transamerica Multi-Asset Income Total Return 1-Yr 5-Yr 10-Yr TSHIX Allocation–50% to 70% Equity Category Top 10 Holdings Investment / Ticker Apple / AAPL

-7.6% -11.8

7.6% 4.5

Weighting 3.4%

SPDR Bloomberg Short Term High Yield Bond / SJNK

2.9

Bristol Myers Squibb / BMY

1.9

Alphabet / GOOG

1.8

Chevron / CVX

1.8

AbbVie / ABBV

1.7

Microsoft / MSFT

1.7

Merck / MRK

1.7

Pfizer / PFE

1.5

iShares iBoxx $ High Yield Corporate Bond / HYG TOTAL

1.5 19.9%

Note: Holdings as of May 31. Returns through June 17; three- and five-year returns are annualized. Sources: Morningstar; Transamerica

7.1% 4.9

doing poorly, chances are the bond is, too. Depending on market conditions, Bellamy will shift the portfolio more to highyield debt or to stocks. Stocks and bonds can each comprise 20% to 60% of the portfolio, while preferred stocks can make up to 40%. Bellamy points out that in 2021, the average yield of BB-rated high-yield bonds was as low as 3.25%, whereas today it’s about 7%. “We’ve had a huge repricing in the highyield market,” he says. “The risk is now more to the equity market than to high yield.” The fund’s composition reflects that: As of May 31, equities made up 47%, down from 58% at the end of 2021, while highyield bonds were 48%, up from 37%. Bellamy tends to like smaller bond issues that larger institutional managers with more assets can’t buy as easily. He also favors underrated bonds, as they’re defensive and their prices rise with ratings upgrades. One favorite holding is the BB-rated debt of Brink’s (BCO), the security company with armored trucks for transporting banks’ cash. The company “only has about $1 billion dollars outstanding in public debt,” Bellamy says. “Its management team, which we know, is really strong, and they are committed to delevering [Brink’s] balance sheet.” The bond yields about 5.75%, less than other BB bonds, but Bellamy believes it is due for a credit rating upgrade. Another holding, Performance Food Group (PFGC), the second-largest food distributor in the U.S., has similar debt characteristics to Brink’s. “Their management team has shown their ability to grow cash flow through acquisitions,” Bellamy says. “But what sets them apart is their ability to reduce leverage along the way.” The debt has a 5.5% coupon. On the equity side, Bellamy favors dividend payers, often high-quality ones. Financial-services stocks currently make up 18.8% of the portfolio; profits on their loans to borrowers should increase alongside interest rates. One holding, Citigroup (C), will benefit from the widening gap—or yield spread—between the low rate it pays on depositor checking accounts versus the higher interest rate it receives on long-term mortgage loans, for instance. “It has...almost a 4% dividend yield,” he adds. “That’s a compelling investment for us.” Meanwhile healthcare stocks like Pfizer (PFE), AbbVie (ABBV), and Merck (MRK) offer dividend yields above 3%. “Pharma has gotten incredibly cheap,” he says. “With an aging population, the need for prescription drugs is only growing.” Given recent interest-rate increases, earning a decent yield with this fund shouldn’t be a problem. Just don’t confuse it with a bond fund. B

Scoreboard: Accepting Recession After weeks of losses, stocks rallied despite recession talk, with the S&P 500 up 3.52% and battered biotechs snapping back 8.19%. Natural resources like oil took a hit, falling 8.19%. One Week

Year-to-Date

3.36% 9.07 – 8.19 3.52 0.37 0.90

– 21.67% – 18.38 18.40 – 20.36 – 8.91 – 10.03

U.S. STOCK FUNDS TOP SECTOR / Health/Biotechnology Funds BOTTOM SECTOR / Natural Resources Funds S&P 500 U.S. BOND FUNDS Bloomberg Barclays AGG Bond

The Week's Top 25 Fund Investment

Objective

One Week

Year-to-Date

Morg Stan I Disc A / MACGX Am Beacon ARK TI Y / ADNYX Transam Cap Growth I / TFOIX Morg Stan I Growth I / MSEQX Morg Stan Insight A / CPOAX Berkshire Focus / BFOCX Morg Stan I Inc I / MSSGX Morg Stan I Gl Ins I / MIGIX Fidelity Sel Bio Tech / FBIOX Morg Stan I Advtg I / MPAIX Bail Giff US Disc K / BGUKX AlphaCentric LS HC I / LYFIX Fidelity Adv Biotech I / FBTIX Bail Giff Hlth Inn Eq I / BGHBX Bail Giff US EG I / BGGSX Morg Stan I Gl End I / MSJIX Zevenbergen Genea Inst / ZVGIX Morg Stan Vitality Pf I / MSVDX Firsthand Tech Opptys / TEFQX Zevenbergen Growth Inst / ZVNIX Delaware Smd Cp G Inst / DFDIX Delaware Sm Cap Gro Inst / DSGGX T Rowe Price Glbl Tech / PRGTX Franklin Str BD A / FBDIX Eventide Hlthcare & LS I / ETIHX

Mid-Cap Growth GL Science/Tech Multi-Cap Growth Multi-Cap Growth Multi-Cap Growth Multi-Cap Growth Small-Cap Growth Global Multi-Cap Growth Health/Biotech Multi-Cap Growth Small-Cap Growth Health/Biotech Health/Biotech Health/Biotech Multi-Cap Growth GL Sm/Mid-Cap Multi-Cap Growth Health/Biotech Science & Tech Multi-Cap Growth Mid-Cap Growth Small-Cap Growth GL Science/Tech Health/Biotech Health/Biotech

18.58% 17.96 17.09 16.07 16.07 16.06 15.07 15.00 14.90 14.55 14.35 13.81 13.78 13.75 13.60 13.26 13.22 13.10 12.82 12.41 12.22 11.91 11.90 11.76 11.69

– 54.9% – 53.0 – 53.7 – 53.6 – 54.0 – 53.1 – 49.4 – 52.3 – 24.3 – 50.3 – 41.0 – 8.5 – 19.9 – 36.2 – 51.6 – 56.6 – 51.2 – 38.7 – 48.3 – 49.2 – 44.2 – 42.3 – 47.2 – 19.7 – 34.1

One Week

Year-to-Date

– 10.97% – 10.50 – 9.87 – 9.50 – 9.50 – 9.26 – 9.11 – 8.97 – 8.95 – 8.58

13.5% 5.3 22.2 30.2 30.5 – 22.4 24.1 14.7 5.4 25.6

The Week's Bottom 10 Fund Investment

Objective

Fidelity Sel Nat Res / FNARX G&R Resources Inst / GRHIX Hennessy Ener Trans Inst / HNRIX Fidelity Adv Energy I / FANIX Fidelity Sel Energy / FSENX Franklin Gld&Pr Mt A / FKRCX Invesco Energy A / IENAX BNYM Natural Res I / DLDRX PGIM Jenn Ntrl Res A / PGNAX Ivy Energy I / IVEIX

Natural Resources GL Natural Resourc Natural Resources Natural Resources Natural Resources Precious Metals Eq Natural Resources Natural Resources GL Natural Resourc Natural Resources

The Largest 25 Fund Investment

American Funds Gro A / AGTHX American Funds Bal A / ABALX Vanguard Wellington Adm / VWENX Fidelity Contrafund / FCNTX Dodge & Cox Stck I / DODGX Vanguard Tgt Ret2030 Inv / VTHRX American Funds Inc A / AMECX Vanguard Tgt Ret2025 Inv / VTTVX Vanguard Tgt Ret2035 Inv / VTTHX American Funds Wash A / AWSHX American Funds EuPc R6 / RERGX PIMCO Income Inst / PIMIX American Funds ICA A / AIVSX Vanguard Tgt Ret2040 Inv / VFORX

Assets (billions)

Objective

$109.6 97.6

Mix Tgt All Gro Mix Tgt All Gro

97.0 96.5 94.2 81.9 81.5 79.7 79.7 74.3

Large-Cap Growth

3-Year* Return

1-Week Return

YTD Return

7.9%

4.00%

– 29.7%

5.8

1.53

– 13.9

6.0

2.25

– 16.6

8.3

3.01

– 27.9

10.8

1.97

– 12.0

Mix-Asst Targ 2030

4.1

1.62

– 16.9

Mix Tgt All Mod

5.9

0.75

– 10.0

Mixed-Asset Target 2025

3.6

1.48

– 15.8

Mixed-Asset Target 2035

4.7

1.76

– 17.5

Large-Cap Value

9.2

2.30

– 13.6 – 25.8

Multi-Cap Value

73.1 71.4

Intl Large-Cap Growth

1.3

0.31

Multi-Sector Inc

0.5

0.57

– 8.9

70.6 68.9

Large-Cap Core

7.8

2.16

– 19.7

5.2

1.81

– 18.3

10.2

3.31

– 20.4

Global Equity Income

4.0

1.08

– 10.5

Mixed-Asset Target 2045

5.8

1.95

– 19.0

Core Bond

0.3

0.48

– 9.9

Large-Cap Core

9.9

3.66

– 17.5

Large-Cap Core

7.3

2.11

– 20.8

Large-Cap Core

3.44

– 19.7

Global Large-Cap Growth

7.8

2.54

– 27.1

Global Large-Cap Core

4.1

0.73

– 21.5

Vanguard Div Gro Inv / VDIGX

53.2 53.2

Equity Income

9.9

3.36

– 11.5

Vanguard Wellesley Adm / VWIAX

51.3

Mix Tgt Alloc Con

3.5

0.96

– 10.6

Fidelity SA US Tot Stk / FCTDX American Funds CIB A / CAIBX Vanguard Tgt Ret2045 Inv / VTIVX Dodge & Cox Income I / DODIX Vanguard PRIMECAP Adm / VPMAX American Funds FInv A / ANCFX Fidelity Str Adv LgCp / FALCX American Funds NPer A / ANWPX American Funds CWGI A / CWGIX

Mixed-Asset Target 2040

68.8 65.5

Multi-Cap Core

63.9 62.7 60.8 60.7 55.7 53.3

*Annualized 06/20/2019 to 06/23/2022. Through Thursday.

Source: Lipper

BARRON’S

June 27, 2022

T E C H T R ADER

Conference participants sounded caution about the next few quarters but expressed optimism about the long-term opportunities in tech.

here were no technology stocks in ancient Israel, but if there were, I can tell you this: Hosea would have been bearish on SPACs, cryptocurrencies, and high-multiple cloud stocks. A minor prophet with his own Old Testament book, Hosea was the crotchety sourpuss who once said, “For they have sown the wind, and they shall reap the whirlwind.” That pretty much explains what’s happened to investors in tech stocks this year: They’ve reaped a bumper crop of whirlwind. The Nasdaq Composite is off about 25% since the end of 2021, many tech stocks have fallen more than 50%, and few have been spared. Investors first blew out pandemic-era winners and eventually sold off tech stocks of every description as interest rates spiked, fuel prices soared, and recession worries emerged. That was the backdrop for this year’s Investing in Tech virtual summit, a one-day tech conference Barron’s hosted on Thursday, featuring one-onone fireside-chat style conversations with more than a dozen tech industry leaders, analysts, and investors. The day provided many insights about the state of tech business fundamentals, with caution about the outlook for the next few quarters but optimism about the long-term opportunities. Here are a few takeaways. Getting smart about AI. The tech giants have conviction that artificial intelligence is going to drive enterprise software from here. IBM (ticker: IBM) CEO Arvind Krishna may have sold

By Eric J. Savitz

off the company’s old Watson Health business, but he remains a big believer in AI, which he thinks will spread across the company’s software offerings. Still, during his session, Krishna expressed skepticism about the recent claim that Google’s AI software has achieved sentience. Krishna thinks we might be 50 years away from software that’s self-aware—maybe longer. Meanwhile, as the Microsoft (MSFT) executive vice president for business development, strategy, and ventures, Christopher Young gives plenty of thought to the company’s future. He is convinced it will be tied to AI. Among other things, he’s bullish on tools that will make it easier for “citizen developers” to write code. Supply chains are still a big problem. Cisco Systems (CSCO) Chief Financial Officer Scott Herren cautioned that serious component shortages continue, as China’s zerotolerance policy on Covid infections plays havoc with key suppliers—and thereby with Cisco’s financial results. And there is a risk the situation could

berty said that June-quarter results— and accompanying guidance for the rest of the year—could kick off the reset. She notes that the 2001 and 2008 downturns both triggered earnings declines of more than 50%. Huberty isn’t the only one who’s worried. “I’m very happy to not be a public market investor right now,” Aileen Lee, founder and managing partner at seed-stage investment firm Cowboy Ventures, commented during her session. Still, Lee says the issues will trickle down to her portfolio. A spending slowdown by both consumers and enterprises, she says, “is for sure going to impact…how private companies are able to grow in the next couple years.” Huberty notes that in the consumer sector, there are already signs of a spending pullback. She sees no reason to think that enterprise spending will be spared, although she does think that investing in technology will be the most effective option for many companies to fight inflation. Pressed for stock ideas, Huberty noted that she’s still bullish on Apple (AAPL), but adds that it might be time for investors to play defense. She suggests bets on real estate, healthcare, and utilities. For tech stocks, she suggests waiting until after Labor Day, as estimates ratchet lower. “I don’t think this is going to be over until everybody swears they will never own an NFT, they will never own crypto, and they will never own a technology stock,” C3.ai CEO Tom Siebel added in his conference session. “When we get there, we’ll know it’s over.” For now, the whirlwind is still blowing strong. B

“I don’t think this is going to be over until everybody swears they will never own an NFT, they will never own crypto, and they will never own a technology stock.” –Tom Siebel, CEO of C3.ai

Courtesy Intel

4 Takeaways From the Barron’s Investing in Tech Conference

get considerably worse, should China act on its desire to take control of Taiwan. Resilinc CEO Bindiya Vakil cautioned that “if something happened to Taiwan, life as we know it would end for sometime.” Taiwan Semiconductor (TSM) remains a crucial chip supplier—shut it down, and production of almost everything from PCs to cars would grind to a halt. Intel’s big bet. The national-security risks posed by U.S. reliance on Taiwanese chip production is one reason Intel (INTC) plans to spend $100 billion-plus to build new chip factories. But paying for the construction spree will be complex. Intel CFO David Zinsner said in his session that the company is betting on federal financial help from the Chips Act, a measure before Congress that would provide funding to build U.S. fabs. But progress has been sluggish, and Zinsner cautions that momentum will slow without government aid. In parallel, he says, Intel is exploring novel financing for the new fabs, in which outside investors could gain partial ownership and reap some of the eventual cash flow. Meanwhile, he still thinks Intel can complete an IPO for its autonomous-driving technology unit Mobileye by year end— a bold prediction when the new-issues market appears all but shut down. Not the bottom. Katy Huberty, the longtime Morgan Stanley hardware analyst who now runs the firm’s U.S. equity research team, cautioned that Wall Street earnings estimates for most tech shares have barely budged, despite growing odds of a recession that will inevitably crunch profits for many companies. In her session, Hu-

June 27, 2022

BARRON’S

I N C OME

Some funds that emphasize higher-yielding stocks have been helped by the surge in energy shares, fueled by rising crude oil and gas prices.

A Tricky Call in Tough Times: High Yields Or Rising Payouts?

s 2022 approaches its midpoint with deepening concerns about recession and inflation, stocks with higher yields have performed relatively better than those with faster-growing payouts. But Donald Kilbride, the portfolio manager of the $53 billion Vanguard Dividend Growth fund (ticker: VDIGX), which focuses on rising payouts, not yield, is taking that in stride. As of June 21, the Vanguard fund’s total return this year was minus 12.5%. Although that beat the S&P 500’s decline of around 22%, it trailed the iShares Core High Dividend exchange-traded fund’s (HDV) small gain of 0.2% and the Vanguard High Dividend Yield ETF’s (VYM) return of minus 8.8%. “Our perspective tends to be very, very long term,” Kilbride tells Barron’s. “It’s all about compounding.” Kilbride, who is also a portfolio manager at Wellington Management, has played a key role running the Vanguard fund since 2006. The portfolio’s 15-year annual return was recently 9.25%, besting Morningstar’s category average of 7.46% and the S&P 500’s result of 8.5%. The fund holds 42 stocks. Kilbride historically has looked for stocks that are growing their dividends “by a nice cushion” above the inflation rate. That has gotten trickier lately as inflation has spiked, most recently to 8.6% for the 12 months that ended on May 31. Still, he’s not concerned about how

By Lawrence C. Strauss

the market has gravitated to higheryielding stocks. “We try to find underlying growth in dividends,” Kilbride says. “Yield has little, if anything, to do with our process.” Some funds that emphasize higheryielding stocks have been helped by the surge in energy shares, which have made big gains on rising crude oil and natural-gas prices. The dividend yield for energy stocks in the S&P 500 was recently around 3.6%, versus 1.7% for the broader index, according to FactSet. Through the close on June 22, S&P 500 energy stocks had returned more than 30% this year, the only one of the index’s 11 sectors to notch a positive return over that stretch. Lan Tran, an associate analyst of passive strategies at Morningstar, points out that “dividend growth funds have [underweighted] energy versus high-yield funds.” That has definitely been a headwind for dividend growth funds this year. “Dividend growth funds have been underweight energy due to either stricter dividend history criteria, or

Yield Trumps Growth So far this year, higher-yielding stocks have outperformed those with faster dividend growth, as these ETFs show. ETF / Ticker iShares Core High Div / HDV Vanguard High Div Yield / VYM

YTD Return

AUM (bil)

Expense Ratio

0.2%

$12.6

0.08%

-8.8

42.4

0.06

iShares Core Div Growth / DGRO

-14.9

21.4

0.08

Vanguard Div Appreciation / VIG

-17.2

58.8

0.06

Note: data as of June 21. AUM=assets under management. Source: Morningstar

fundamentals screens,” Tran adds. Peter Fisher, a portfolio manager at Wellington Management who works closely with Kilbride, points out that sectors like energy have done well partly owing to inflation concerns. Energy is often seen as a hedge against inflation. Fisher characterizes energy as “more of a value sector,” adding that it differs from “the kinds of quality, steady growers we tend to own.” As of March 31, the fund’s top holdings included UnitedHealth Group (UNH), which yields 1.3%; Johnson & Johnson (JNJ), 2.6%; Colgate-Palmolive (CL), 2.4%; and Coca-Cola (KO), 2.9%. There’s no doubt the market’s tilt toward value has helped dividend funds focused on higher yields, especially funds with decent energy weightings. As of June 21, the Russell 1000 Value Index had returned about minus 13% this year, well ahead of the corresponding growth index, which was off 29%. At the end of last month, the Vanguard High Dividend Yield ETF had about a 10% weighting in energy, the fourth largest among its various sectors. As of June 21, energy was the second-largest sector weighting for the iShares Core High Dividend ETF at nearly 19%. The rise in inflation—and its impact on company performance—is another consideration for dividend investors as they select stocks. “In order win in that game, you’ve got to be able to price,” says Kilbride, who cites some key pillars of pricing power: innovative products, strong brands, and being able to sell valuable, though not necessarily superexpensive, components to companies. One of his holdings is UnitedHealth, “which does have some exposure to the economy,” he says. UnitedHealth has large businesses that include health insurance, pharmacy benefit management, and healthcare analytics used by other companies, according to Morningstar. “Healthcare is exposed to a longterm, strong demand curve,” says Kilbride. “Given where demographics are and given where innovation is, we are

only going to be consuming more healthcare globally.” The stock’s recent yield of 1.3% is pretty modest, but it has been growing at a double-digit clip. Another of the fund’s holdings is consumer-products company ColgatePalmolive. “We’re going to brush our teeth regardless of whether or not there’s a recession,” says Fisher. Staples companies, he adds, “by their very nature are very, very resilient to an economic downturn.” Colgate-Palmolive has had fairly small but steady dividend hikes in recent years. Last month, the company paid a quarterly disbursement of 47 cents a share, up from 45 cents previously.

tepping back, Kilbride points out that stocks with high yields can be risky, their recent relative outperformance notwithstanding. “It sometimes can be the case that the market just doesn’t have a lot of confidence in that dividend,” he says. That’s especially true if the stock price has plummeted, pushing up the yield ahead of a dividend cut or suspension. Dividend fund managers are approaching this volatile environment in a variety of ways. For example, John Kornitzer, a longtime co-manager of the $455 million Buffalo Flexible Income fund (BUFBX), has lightened up on some energy holdings like Hess (HES), which got too expensive for him. He used those proceeds to invest in more attractively valued sectors such as pharmaceuticals and banks. One stock he added was regional bank Citizens Financial Group (CFG), which was recently yielding 4.3%. Looking ahead, Kornitzer says he expects companies to face some grilling during coming earnings calls about price increases, how business is holding up, and if margins are getting squeezed—all off which affect dividend policy. “A lot of questions are going to be answered in second-quarter earnings,” he says. That applies to dividend investors, as well. B

BARRON’S

June 27, 2022

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Founder and Co-Chief Investment Ofﬁcer Bridgewater Associates

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CEO Engine No. 1

Co-Founder Decentraland

September 21 & 22, 2022 In-Person in NYC | Online

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June 27, 2022

THE EC ONOMY

Barron’s looked for gas-price policy ideas that could both help consumers and pass a gridlocked Congress. There isn’t much of a Venn diagram.

Some Sensible Ways The Government Can Cool Energy Prices

resident Biden’s proposed gas-tax holiday is both a gimmick and dead on arrival. Yet, it is attracting inordinate attention across Washington and on Wall Street. There are viable ways to improve energy-price inflation, but they aren’t quick fixes. Nor are they politically comfortable. Earlier this month, this column said that policy makers and politicians are unable to do much in the immediate term to alleviate inflation where it is hurting households and businesses most. Some readers disagreed. Given how politics has infiltrated economics this week, from gas-tax-holiday talk to Federal Reserve Chairman Jerome Powell’s semi-annual testimony before Congress, Barron’s looked for policy ideas that could both help consumers and pass a gridlocked Congress. There isn’t much of a Venn diagram. But, to take the optimistic view is to allow for the possibility that sensible policies could become politically feasible, at least with the right messaging and at a time when the politics of inflation are at a fever pitch. First, on the gas tax: The problem is about both supply and demand, and a gas-tax holiday does nothing to solve either, while threatening to worsen the latter, says Adam Ozimek, chief economist at the bipartisan Economic Innovation Group. If the entire waived federal tax were to be passed on to consumers, it would amount to a savings of only about 4% on a $5 gallon of gas. Economists at Goldman Sachs say it would

BARRON’S

By Lisa Beilfuss

reduce the year-over-year headline consumer price index by just 0.18 percentage point. Doubts that the savings would mostly flow through to consumers have enough Democrats wary of the plan, making it unlikely to become law even before considering an uphill battle in a divided Senate, says Brian Gardner, chief Washington policy strategist at Stifel. So if not a gas-tax holiday, then what? Ozimek of EIG says the only way to meaningfully help the situation is to focus on increasing domestic energy supply. EIG offers a three-part solution. Its plan calls for the government to use the Strategic Petroleum Reserve’s exchange authority to guarantee demand that would be sufficient for oil producers to justify new investment, and the Treasury’s Exchange

Resilient GOAT RBC’s Get Out & Travel Index, which tracks high-frequency indicators of travel-related activity, shows high energy prices are reducing gasoline demand at the margin. 400

300

200

100

0 2021

Source: RBC Capital Markets

2022

Stabilization Fund to finance the drilling of new wells. It also calls for invoking the Defense Production Act to resolve domestic supply bottlenecks. “If the administration coordinates these actions, it could break the underinvestment pattern and meaningfully address soaring energy prices in the short- and medium-term,” the EIG report says. It could also net a return for the federal government while facilitating a transition to a greener and more secure economy, the report adds. Nancy Tengler, CEO at Laffer Tengler Investments, says providing oil companies some regulatory relief around permits and environmental standards would boost production and, in the nearer term, help improve sentiment. But it is the gas-tax holiday that is getting buzz while ideas like EIG’s and Tengler’s aren’t getting much traction. As Ozimek puts it, “It’s politically easy to blame greedy companies, and it’s politically difficult to subsidize energy companies, which would benefit.” But this is an emergency, he says. “We have to be willing to break a few eggshells to get the economy to a better place.” Even if plans to subsidize more production or ease regulatory requirements were enacted today, Ozimek says it would take six months before the additional supply came online. That doesn’t quite sound like a shortterm fix, but everything is relative. Analysts say it takes several years to build a refinery, for example. It is possible that the economy will look very different in six months, with the Federal Reserve aggressively tightening monetary policy as growth is already flagging. It isn’t unreasonable, then, to expect higher prices to help cure higher prices. The problem is that so-called demand destruction hasn’t really started to occur, even as gasoline prices regularly hit new highs, above levels some economists had previously said would curb demand. Analysts at Wells Fargo Investment Institute, for example, earlier this year pegged the demandimpairing price of gas at $4.67 a gallon. AAA data show much of the country is paying at least $5 a gallon.

Michael Tran, global energy & digital intelligence strategist at RBC Capital Markets, tracks a host of high-frequency indicators to gauge energy demand and predict price action. His Get Out And Travel–or GOAT–index, which tracks high-frequency indicators of travel-related activity, shows that rising fuel costs are modestly affecting search interest in things like air travel and car rentals. But it is at the margin, and it isn’t enough, he said, to really impact the direction of gas prices. “Retail gas prices are reaching new all-time highs on a regular basis and we’re not seeing clear, material signs of demand destruction at this point,” he says.

ther market indicators suggest energy demand will remain elevated even as inflation eats into consumer spending and recession fear rises. Tran points to crack spreads, or the difference between crude oil and gasoline prices, and crude oil and diesel prices. The former is roughly $50 a barrel, just off a record high, while the latter is at a record high of about $72 a barrel. Tran says these demand indicators are about double what has historically been considered very strong levels. That is all a positive for energy companies, whose recent stock-price declines have been sharp. But it means there will probably be more pain for consumers and businesses— and more headaches for politicians and policy makers. If the central bank can do little to affect energy prices because demand is largely inelastic, and if political interventions such as a gas-tax holiday remain focused on preserving demand instead of boosting supply, energy prices, and thus overall inflation, will remain stubbornly high. Meanwhile, interest rates are rising rapidly. Demand destruction will eventually kick in, but perhaps not in the way economists have expected. Energy prices will decline meaningfully on their own at some point, but ignoring the supply problem in the meantime only intensifies the amount of economic damage. B

Q&A

Big Success In SmallCap Stocks By TERESA RIVAS

hen you think of profitable ventures dreamt up in dorm rooms, tech start-ups like Facebook or Dell come to mind. But fund managers Brian Smoluch and David Swank began dreaming of investments as college roommates nearly three decades ago. Now, they’re navigating the tumultuous world of small-cap stocks, looking for companies that are rapidly growing but overlooked by other investors. The former students at the University of Virginia are co-principals and portfolio managers of the Hood River Small-Cap Growth fund (ticker: HRSRX). They graduated from college in 1994, and while their professional paths initially took them in different directions, they “always wanted to do something together,” says Smoluch. The opportunity arrived when Smoluch’s partner at Roxbury Capital Management retired in 2008, and Swank stepped into the role. “Our investment styles kind of grew up together,” says Swank. Both men are now 50. The pair co-founded the Roxbury spinoff Hood River Capital Management in 2013, but the Growth fund’s institutional shares (HRSMX) predate that. Since its 2003 inception, with Smoluch at the helm, it has beaten both its small-cap growth category and index, as defined by Morningstar, for the past three-, five-, 10-, and 15year periods. Morningstar gives it a five-star rating. Smoluch and Swank have been able to outperform by exploiting inefficiencies in this undercovered corner of the market. That means independent research, meetings with management teams, largely confining themselves to profitable, undervalued companies, and not flinching when it’s time to sell. They say these strategies show there’s still attractive opportunities, even as small-cap shares have fallen harder than the broader market this year. The Russell Photograph by DEVIN CHRISTOPHER

BARRON’S

An Interview With Brian Smoluch and David Swank Portfolio Managers, Hood River Small-Cap Growth

June 27

7, 2022

BARRON’S

The former college roommates have been able to outperform by exploiting inefficiencies in small-caps. That means independent research, meetings with management, careful stock selection, and not flinching when it’s time to sell.

Barron’s: What did you talk about in college? Did you ever think you’d end up here? Brian Smoluch: We were always interested in researching companies, and extremely competitive. Our fourth year at UVa, we roomed together and talked a lot about stocks and starting an investment firm together, so we’re excited to be able to do this for a job. What drew you to small-caps? Smoluch: We like small-caps because it’s inefficient. A big company like Apple [AAPL] might have 50 to 55 analysts covering it; one of our companies might only have five or 10. How do you narrow down the field and choose what to buy? Smoluch: We talk to approximately 400 companies every quarter. It allows you to get the pulse of what’s happening in business in real time across a bunch of different industries. With small-caps, you have good access to the management teams. Usually we can get the CEO or [chief financial officer] on the phone in 24 to 48 hours. We tend to be a top-10 or top-20 shareholder, so they’re open to having discussions with us. We’re talking to that company, some competitors, and we’re able to put together a mosaic of how it’s doing in real time. What do you look for before you invest? Smoluch: We want to buy companies with great management teams that are stealing share, in a space that’s grow-

“The vast majority of our companies are profitable and they’re growing.”

ing well. And we’re buying at good valuations. The vast majority of our companies are profitable and they’re growing. We’re looking at it on a price-toearnings or price-to-cash-flow basis, et cetera, and we want those valuations to be median or better over time. When estimates are too high for our companies, and we think the stock is going to go down, we’ll trim those positions. There’s a strict sell discipline to control risk. If our bottom-up work points to an impending fundamental rough patch, negative future sell-side earnings revisions, or overvaluation, we will sell it and revisit it later.

2000 index is down about 25% this year, compared to a 21% drop for the broader S&P 500 index. But smallcaps are likely to outperform when the market rebounds. The fund is off about 31% in 2022, hurt in part by a decline in consumerdiscretionary stocks, as SeaWorld Entertainment (SEAS) and Caesars Entertainment (CZR) were recently among its top 10 holdings. Over the past year, it’s still outperforming its Morningstar Small Growth benchmark index. An edited version of our conversation follows.

Going to Extremes Small-cap shares have fallen harder than the broad market this year, with the Russell 2000 down

25% Meanwhile, the S&P 500 is down some 21%.

Do you find it hard to sell a stock that has made you a lot of money? Smoluch: It can be very difficult to sell winners, but you have to be disciplined and sell overvalued stocks or those stocks will haunt you later. Part of the reason we did really well in 2021 was we sold our overvalued stayat-home winners in 2020. Is there an investment you passed on that you now regret? Smoluch: We spoke to MongoDB [MDB]—which is a great company— multiple times several years ago and passed due to valuation. Even after the pull-back this year, the stock has tripled from where we were looking at it. A rare year when you underperformed the index and the competition was 2019. What happened? Smoluch: In 2019, we trailed our benchmark index by about four percentage points, with the majority of that coming from healthcare in the second half of the year. Going into that period, we were underweight biotech, as we perceived valuations weren’t very appealing. Then biotech kicked off a speculative run, leading to some underperformance. But today, small-cap biotech stocks have fallen back below where they were in mid-2019. In retrospect, from a longer-term perspective, our assessment of those valuations is looking a lot smarter, and sticking to our valuation discipline ultimately helped our

-Brian Smoluch

long-term performance.

estimates for next year.

Tell me about the worst investment you ever made and what you learned from it. Smoluch: The worst investment we ever made was in 2002, in HPL Technologies, which made yield-optimization software for semiconductor companies. Unfortunately, the CEO created invoices which overstated revenue, and when it became public, the stock was justifiably hammered. The experience emphasized the importance of involving yourself with credible management teams.

Option Care Health [OPCH] is another healthcare name you own. Swank: It’s the largest independent provider of home infusion services; about 70% of its revenue is from chronic conditions. It’s benefiting from the shift away from institutions and into the home, being pushed by both cost and patient preference. It should be able to grow earnings in the mid-teens. Right now it’s trading at about 21 times my 2023 earnings estimate; I think there will be upside to that from better revenue. It could also do some tuck-in acquisitions that could be immediately accretive.

What are you telling clients, when small-caps have been so down? Smoluch: We have a lot of sophisticated investors, and they’re typically allocating a small percentage of their portfolio to the asset class. But they know small-caps are more inefficient, and they have 20 years of data through all sorts of markets to show our ability to have good risk control. We’re also well diversified. David Swank: That’s why investors are in small-cap, to find the undiscovered names where the market isn’t adequately appreciating the business. The returns over the past two decades, nearly the entirety of it, is from bottom-up stock selection, not making sector calls. Speaking of doing well, Lantheus Holdings [LNTH] is up more than 100% this year. Do you still like it? Swank: Lantheus sells diagnostic agents for cardiology, oncology, and radiopharmaceuticals. The real story is that it has upside in the near and longer term from its imaging agent Pylarify. Pylarify has a longer half-life, yields crisper images, and has more scalable manufacturing compared to the competition. At the end of last year, analysts were looking for Pylarify to sell under $100 million [of product] in 2022; now it’s looking more like over $400 million. Even though the stock is up, it’s growing revenue and still only trades at 19 times consensus earnings for next year. I think there’s still substantial upside to sales and earnings

You’ve been adding to your position in energy-drink maker Celsius Holdings [CELH]. Why? Smoluch: Right now it’s growing revenue at over 200%, which is phenomenal, and has approximately 4% market share; Monster Beverage [MNST], to give some perspective, has about 37% share. We think there’s a lot of room for Celsius to grow. It wouldn’t shock me if it got to 20% share. SeaWorld is one of your top holdings. How does it keep thriving? Smoluch: SeaWorld used Covid to its benefit by optimizing how it runs the park from a labor perspective. Its net revenue per capita—how much each person is generating in the park—has gone up significantly. Pre-Covid, it was about $62. It’s up to around $79 in the latest quarter. You couple that with the fact that admission is slightly above 2019 levels, it can deliver significantly greater profits. What about Caesars Entertainment do you find it attractive? Swank: There are a lot of good fundamental things going on, and it’s inexpensive relative to its prospects. Business is ripping in Las Vegas, and other regions probably aren’t far behind. Caesars is deleveraging by selling some noncore assets, which makes the stock more appealing to a broader swath of investors. Thanks, Brian and David.

BARRON’S

June 27, 2022

MARKET WEEK

June 21 through June 24, 2022 Euro Trader

P. 37

Power Play

P. 41

Emerging Markets

P. 37

Charting the Market

P. 40

Striking Price

P. 38

Winners & Losers

P. 42

Commodities

P. 39

Market View

P. 43

Inside Scoop

P. 41

Statistics

P. 44

13D Filings

P. 41

MARKET PERFORMANCE DASHBOARD Dow Jones Industrials

S&P 500

Nasdaq Composite

Energy Select Sector SPDR

52-wk: -8.52% YTD: -13.31% Wkly: +5.39%

52-wk: -8.62% YTD: -17.93% Wkly: +6.45%

52-wk: -19.17% YTD: -25.81% Wkly: +7.49%

52-wk: +29.36% YTD: +28.99% Wkly: -2.59%

31,500.68

3911.74

11,607.62

$71.59

10.0%

Rally Time Stocks opened high and continued rising on Tuesday, as investors returned from the long weekend. All 11 sectors of the S&P 500 closed in the green.

Economic Angst Stocks rose on Thursday, but trading patterns implied recession fears. Cyclical energy and industrials shares fell, while defensive utilities and healthcare gained.

7.5

5.0

Oversold Stocks managed solid gains on Friday to finish positive for the week. Chalk it up to continued mean reversion after the previous week’s sharp declines. The Fed Effect Fed Chairman Jerome Powell said on Wednesday that a recession was a necessary risk in battling inflation. Stocks gave up their morning gains to close down.

2.5

-2.5

-5.0

-7.5 Tuesday

Wednesday

Thursday

Friday

Source: Barron’s Statistics

THE TRADER A BearMarket Correction Is Still a Bear Market

ven bear markets get bounces. The stock market had a terrific week, and for the first time in a long time, the rally feels like it can last. The Dow Jones Industrial Average rose 5.4%, the S&P 500 gained 6.4%, and the Nasdaq Composite climbed 7.5%. Give Federal Reserve Chairman Jerome Powell credit. In testimony before Congress, he said that engineering a soft landing had become “very challenging,” suggesting that getting inflation under control could lead to a recession. Under normal circumstances, that would be a worrisome sign. But everyone was already talking about the possibility of a slowdown, so his ac-

By Ben Levisohn

knowledgment of the possibility served as a strange source of relief, if only because it might mean less-aggressive rate increases in the future. Expectations for inflation in the University of Michigan consumer sentiment survey also dipped from the preliminary read earlier this month. Now, the odds of the federal-funds rate hitting a range of at least 3.25% to 3.5% in November fell to 50%, down from 71% a week ago, and that’s much easier for the market to handle. Powell’s testimony also came at the right time for the market. Investors had gotten extremely pessimistic, and many had a staggering amount of cash on hand after the recent selloff—Bank of America noted its private clients had 12.6% of their assets in cash, the most

since October 2020 and above the historical average of 12.4%. Others might not have any choice but to buy given the fact that the first half of the year ends on Thursday, forcing some portfolios to rebalance. Normally, rebalancing gets a lot of attention, but it only really matters when the market is volatile and liquidity is tight, as it has been this year, according to Marko Kolanovic, chief global markets strategist at J.P. Morgan. The S&P 500 rallied 7% during the last week of the first quarter and about 7% the last week of May—and it could rally again as we go into the last week in June, Kolanovic writes. Even Stifel strategist Barry Bannister, who correctly predicted this year’s downswing, now says that the S&P

June 27, 2022

BARRON’S

500 is likely headed higher. It isn’t that he suddenly turned bullish—he still believes the U.S. entered a long-term bear market in 2022—but rather that bear markets never simply move in one direction. For now, he thinks that the technology sector, particularly semiconductors and hardware, including Apple (ticker: AAPL), will lead the stock market higher. “[It will be] a classic countertrend rally this summer,” writes Bannister, who sees the S&P 500 hitting 4150, up 13% from the index’s June 16 low of 3666.77. That’s likely where the rally runs out of steam. Just as bull markets can suffer downside corrections, bear markets experience corrections of their own, and technical analysis suggests the index should bounce to somewhere between 4000 and 4100, according to 22V Research’s John Roque. Just don’t count on it going too much higher. “[It’s] still a bear market,” he says. Don’t forget it.

Lucid Looks Vulnerable Polestar stock gained 14% after the electric-vehicle maker completed its merger with a SPAC the day before. That’s bad news for Lucid Group. The issue for Lucid (LCID) isn’t direct competition. Polestar (PSNY) makes the all-electric Polestar 2, a $48,000 sedan that competes with Tesla’s (TSLA) Model 3. Lucid, for its part, sells the $170,000 Air Dream Edition, which costs even more than Tesla’s Model S Plaid, which can top out at $155,000. The issue is valuation: Polestar makes Lucid stock look way too expensive. Polestar has about 2.1 billion shares outstanding, giving the company an enterprise value of roughly $26 billion. That prices Polestar at 3.9 times projected 2023 sales of $6.6 billion. Lucid, with a value of about $29 billion, is priced at more than eight times 2023 sales of $3.5 billion. That’s not just expensive relative to Polestar but also to XPeng (XPEV), NIO

(NIO), Li Auto (LI), and Rivian Automotive (RIVN)—all EV companies with sales, but no free cash flow yet, that trade for around 2.6 times 2023 sales. Why is Lucid so much more expensive? Saudi ownership is probably the biggest factor. The Saudi Public Investment Fund owns roughly 61% of Lucid stock, and investors might be assuming the deep-pocketed state will fund Lucid in perpetuity. The Saudis do have a history of funding quixotic ventures, like the LIV golf breakaway tour, which has been criticized for bringing “irrational competition” to golf. Lucid is “the LIV tour for EVs,” says Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management. It “can’t and won’t make money.” He has a point. The market for ultraexpensive cars, traditional or electric, is small, and that’s the reason companies like Tesla are focused on lower-cost vehicles. Tesla sold about 25,000 of its higher-end Model X and S vehicles in 2021, and 911,208 of its more-affordable Model 3s and Ys. Tesla CEO Elon Musk said the company still made the X and S EVs for “sentimental reasons.” The fundamental risk for Lucid—which sold roughly 500 cars in the past two quarters and is expected to sell about 13,000 in 2022—is that volumes will flatten out or decline as the upper end of the EV market gets saturated. That would be very bad news for Lucid’s multiple. For proof, look no further than NIO. Its stock has fallen 47% over the past 12 months and now trades at about 2.4 times 2023 sales, down from roughly eight times forward sales in early 2021. Some of that is due to problems with China’s economy, but a lot of it is due to the fact that volume growth has stalled out in recent months. “The multiple got crushed as growth slowed dramatically,” says Wedbush analyst Dan Ives. “NIO is a cautionary tale for [the EV] industry.” If Lucid were to trade like its peers based

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Vital Signs Friday’s Close

Week’s Change

Week’s % Chg.

DJ Industrials

31500.68

+1611.90

+5.39

Barron’s Future Focus

DJ Transportation

13548.30

+679.70

+5.28

Barron’s Next 50

953.63

+65.91

+7.42

Barron’s 400

DJ 65 Stocks

10649.23

+570.42

+5.66

DJ US Market

958.04

+59.20

+6.59

NYSE Advances

NYSE Comp.

14811.55

+714.50

+5.07

Declines

NYSE Amer Comp.

3838.27

-3.99

-0.10

Unchanged

3911.74

+236.90

+6.45

New Highs

2334.40

+113.91

+5.13

New Lows

1152.32

+57.20

+5.22

Av Daily Vol (mil)

DJ Utilities

S&P 500 S&P MidCap S&P SmallCap

Friday’s Close

Week’s Change

Week’s % Chg. +7.36

834.10

+57.22

2263.35

+200.54

+9.72

884.83

+32.67

+3.83

Last Week 2,646

Week Earlier 384

847

3,179

560

1,562

5,939.3

6,157.0

Nasdaq

11607.62

+809.27

+7.49

Dollar (Finex spot index)

104.15

104.70

Value Line (arith.)

8320.80

+444.00

+5.64

T-Bond (CBT nearby futures)

136-01

134-21

Russell 2000 DJ US TSM Float

1765.74

+100.04

+6.01

Crude Oil (NYM light sweet crude)

107.62

109.56

39315.46

+2398.36

+6.50

Inflation KR-CRB (Futures Price Index)

298.55

309.08

1826.50

1835.60

Gold (CMX nearby futures)

portfolioanalyst.com/veriﬁed Interactive Brokers LLC - member NYSE, FINRA, SIPC. Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations. GIPS® is a registered trademark owned by CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein 06-IB22-1479

BARRON’S

June 27, 2022

Industry Action Performance of the Dow Jones U.S. Industrials, ranked by weekly percent change.* 8.32%

Health Care

7.99

Technology

7.80

Consumer Goods

7.04

Utilities

6.53

Consumer Services

REAL ESTATE SECTOR OF THE S&P 500 IN ONE ETF Visit www.sectorspdrs.com or call 1-866-SECTOR-ETF

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Explore the collection at barrons.com/shop

Telecommunications

6.00

Financials

5.90 5.04

Industrials 2.22

Basic Materials –1.36

Oil & Gas Source: S&P Dow Jones Indices

on 2023 sales estimates, it could fall to about $7 a share, down 64% from its Friday closing price of $19.21, even though the stock has already fallen 73% from its 52-week high of almost $58. In that case, Lucid would be a cautionary tale of its own. — Al Root

Split, Crackle, Pop?

Kellogg surprised investors this past week by announcing plans to split into three pieces. That’s a little puzzling, but the stock might still be worth a look. Usually, when a company announces a spinoff, it’s to separate businesses that don’t work well together. That’s the case with the recent trend of pharmaceutical companies spinning off their consumer businesses, or General Electric’s (GE) decision to split into separate healthcare, power, and aerospace companies. That’s not Kellogg (K). The three businesses it plans to create, focused on the cereal business, global snacking, and plantbased protein products, aren’t all that different from each other, and it’s unclear whether they will be worth more apart than they are together. Morningstar analyst Erin Lash, for one, expects to lower her fair-value estimate for Kellogg stock—which closed Friday at $70.72—to $83 from $88 due to its reduced scale and other headwinds that are created by launching three smaller, standalone companies. The moves won’t “enhance Kellogg’s competitive position or financial prospects,” she says. And even hopes of a higher multiple for faster-growing businesses might not be realized. It’s easy to argue that Kellogg’s snack business should score a valuation closer to Mondelez International (MDLZ), which trades at 16 times earnings before interest, taxes, depreciation, and amortization. But Credit Suisse analyst Robert Moskow notes that just 60% of Kellogg’s proposed new

global snack business comes from snacks, with the other 40% coming from more stable sales of noodles, cereal, and the like. Still, the shares look attractive for investors in search of a food stock in a tough market. Kellogg stock has climbed over 7% this year, a period that’s seen the S&P 500 tumble some 20%, as investors favor safer consumer-staples stocks. Yet Kellogg still doesn’t look too expensive. It trades at 16.5 times 12-month forward earnings, not far above its 15.5 average for the past five years. While that may not look particularly cheap, peers like Coca-Cola (KO), PepsiCo (PEP), Mondelez, and Colgate-Palmolive (CL) all trade at 20 times or more. Fellow cereal maker General Mills (GIS) changes hands for more than 17 times, and Post Holdings (POST), which sells private-label cereals alongside its name brands, has been bid up to more than 28 times. Investors don’t have to compromise that much on growth either. While consensus estimates may change to factor in the spinoffs, at present analysts expect Kellogg earnings to climb by 2% this year and 5% in 2023. The company’s most recent earnings, reported in May, were ahead of expectations, and it lifted its full-year organic sales forecast to 4% from 3%. Kellogg did provide steady earnings-pershare growth during the 2007-09 recession: It grew earnings to $2.76 a share in 2007, up from $2.51 in 2006, and in 2008—one of the most painful years for the U.S. economy in recent decades—EPS climbed again to $2.99. That figure reached $3.16 in 2009. It’s also worth noting that Kellogg pays a generous 3.3% dividend, comfortably higher than Mondelez’s 2.3% and Coke and Pepsi’s 2.8%. And who knows? Maybe the split works out the way Kellogg thinks it will. If not, the stock still looks undervalued. Shareholders could be winners either way. — Teresa Rivas

June 27, 2022

BARRON’S

EUROPEAN TRADER

E M E R G I N G M A R K E TS

Money Printer De La Rue Banks on a Turnaround

Colombia Joins Shift To Left in Latin America

By Brian Swint

By Craig Mellow

t’s every investor’s dream to hold a company with a license to print money. That’s literally what you get with De La Rue. The company traces its roots to Thomas De La Rue, who relocated to London from the French-speaking British island of Guernsey in 1821 to seek his fortune. After making straw hats and fancy stationery, he moved on to printing color playing cards, railway tickets, and postage stamps. In 1860, his company made the first paper money for the government of Mauritius in east Africa. Fast-forward to today, and De La Rue (ticker: DLAR.UK) has designed 35% of all new bank notes issued in the world in the past five years. The company also prints passports, still makes postage stamps, and designs software for security and authentication. (It doesn’t make U.S. dollars—only the Treasury does that.) De La Rue worked closely with the Bank of England to design its new series of polymer notes. They feel more like plastic than paper, but are easier to handle and harder to counterfeit, and last 2½ times longer in circulation than their predecessors. De La Rue, based in southern England’s Basingstoke, was behind the new 50-pound note that was introduced last year. It features Alan Turing, the math genius who cracked the Germans’ Enigma encryption code in World War II. The growing popularity of polymer notes is one of De La Rue’s most promising prospects. Volumes are increasing 40% a year, and they still only account for about 5% of bank notes issued. The company has started a second polymer manufacturing line to support growth. Nevertheless, De La Rue has had a rough time the past three years. It launched a turnaround plan in early 2020—just before the pandemic hit—after it became clear that profits wouldn’t increase as quickly as projected. It

scrapped dividends and pledged to reduce borrowing. When Covid-19 struck, people stayed inside during lockdowns and stores quickly moved to contactless payment. But demand for bank notes actually went up during the pandemic as people held more cash, even if they didn’t spend it. In January, De La Rue shares tumbled as it delayed completion of its turnaround plan by a year. Staff shortages and higher input costs as the pandemic lifted made it harder for the company to achieve its goals. The shares didn’t get a bump in May when the group reported full-year results for the year ended in March, even though they were in line with the expectations. It reported flat net income of 25 million pounds sterling ($30.6 million) on £375 million of revenue and predicted a similar performance in the current year. Nevertheless, in adjusted terms, profit increased 30% from a year earlier—20% growth in the currency unit and 40% in authentication. “This performance was against the background of supply-chain inflation and the various impacts of Covid-19, none of which were anticipated in the original turnaround plan,” De La Rue CEO Clive Vacher said in an earnings statement. The stock has dropped 43% this year to £0.89. Thomas Rand at Investec rates the shares a Buy with a price target of £1.65. De La Rue fetches seven times this year’s expected earnings and is valued at a 50% discount to its peers. The company’s future profitability will depend on how well it manages the supply-chain inflation headwind it anticipates for raw materials. It will also need to continue cutting its debt and deliver on expectations to generate more cash. If investors start to believe strongly in De La Rue’s turnaround story, its shares may start to look more like the moneymaking machines the company specializes in. B

olombia sits geographically between Venezuela and Brazil. With the election of its firstever leftist president, the country of 51 million looks perched between its two neighbors politically, as well. Latin American leftists span a broad spectrum. The two outstanding figures this century have been Hugo Chávez, who dragged Venezuela into ruinous dictatorship, and Luiz Inácio Lula da Silva, who embodied democratic socialism, more or less, as president of Brazil from 2003-11. Investors are unfazed by his likely return to power this October. “Lula is a pragmatic populist,” says Alberto Ramos, head of Latin American economic research at Goldman Sachs. Gustavo Petro, who triumphed in Colombia on June 19, could go either way in search of a role model. Two other recent Latam left-wing electoral earthquakes proved relatively mild. Gabriel Boric, a student-protest leader who leapt to Chile’s presidency, has shown himself to be a “committed democrat who’s not going to dynamite the basis of the Chilean economy,” says Brian Winter, vice president for policy at Americas Society/Council of the Americas. Pedro Castillo, the Marxist-Leninist Free Party leader who swept to power in Peru, has also shown more bark than bite. “Castillo has not been very visible personally, but he has appointed responsible people to run the economy,” Winter comments. Petro, 62, brings a longer, but not necessarily more comforting, track record. Three decades in electoral politics have not sobered the former teenage guerrilla and political prisoner, detractors fear. “He’s a very messianic guy, a very ideological guy,” says Andres Pardo, chief Latin American macro strategist at XP Investments. Petro has praised Chávez in the past,

and campaigned on declaring an “economic state of emergency,” which would enable him to govern by decree. He promised to fire the board of state oil company Ecopetrol (ticker: EC) and halt new exploration contracts, in the name of a green transition and reducing mineral export dependency. That would be a nontrivial move for a nation that exports more than 500,000 barrels a day, with plans to increase. Markets are decidedly bearish on a Petro presidency, which formally starts in August. The Global X MSCI Colombia exchange-traded fund (GXG) has plunged by a quarter this month. The peso lost 8% against the dollar. Optimists see Petro constrained by the democratic institutions Colombia has built over the past half-century. The president-elect’s Colombia Humana party is well short of majorities in Congress. The central bank is secure from meddling, the Constitutional Court famously assertive. Assets should recover as the checks and balances become clearer, says Thierry Larose, portfolio manager for emerging markets local debt at Vontobel Asset Management. “We like Colombia,” he says. “The massive selloff is overdone.” Colombia’s new leader also faces the same obstacle as colleagues across Latin America: reality. The current political wave hearkens back to the “pink tide” of elected leftists that Lula and Chávez led in the early 2000s. Only that group enjoyed a sky full of tailwinds: a commodities supercycle driven by booming China, historically low interest rates, and liberal credit markets. Petro & Co. are hemmed in by the debt their predecessors ran up and decadeshigh inflation, not to mention raw-materials prices that might be peaking. “The 2000s wave came in at the right time,” says James Bosworth, founder of Bogotabased consultant Hxagon. “These guys are at exactly the wrong time.” Good luck. B

BARRON’S

June 27, 2022

T H E ST RIKING PRIC E How ‘Rolls’ Can Magnify Your Options Profits

Curating stocks with options can act as another source of returns, which is especially attractive in a year when stocks are under pressure.

Equity Options CBOE Volatility Index VIX Close

The Equity-Only Put-Call Ratio

VIX Futures

Put-Call Ratio

S&P 500 Index

260

205 30

By Steven M. Sears

ou can’t escape time or volatility. You must roll through them. This is more than a life philosophy—it’s part of the options market’s fabric. Successfully curating stocks with options can add another source of returns to your portfolio, which is especially attractive in a year when stocks are under downward pressure. Rolling options over from one month to another before they expire—“rolls,” in market jargon—can enhance the strategy. When an investor owns a stock and sells a call option, it’s called a covered call. The strategy may enhance returns, with the call’s premium providing a small buffer against the stock’s weakness. Sellers of call options must sell the underlying stock if the stock price exceeds the call strike price at expiration. On June 17, for example, many calls that were sold against stocks expired worthless. The money received from those sales offset some of the weakness in the associated stocks. The recent market swoon means many call sellers are keeping the premiums because so many stocks closed below the strike prices at expiration. That’s created interest in repeating the strategy. Many sellers likely wanted to reset those options before they expired, but they weren’t sure how to handle rolling calls. Here’s a reasonable framework for doing it. When a short call’s profit hits 70% to 90% of the options premium, consider buying back the short call and selling another that expires in the next month. Some investors cover calls when they are worth 10 cents or less. Others focus on total profit. That’s up to you, but most professionals usually roll a profitable position rather than hold out for the final few pennies. Many investors sell calls at about 10% above the stock price. The old rule calls for earning a premium of at least $1, but a better rule is earning a premium that compares favorably to the common stock dividend.

If everything works as expected, the money received for selling the call is kept and the investor essentially increases the stock’s yield. Don’t dismiss this. Dividends account for about 40% of historic stock returns, so boosting yields without major increases in risk is a big deal. Sometimes things don’t go as planned. The risk to the covered-call strategy—and this is a major source of confusion and questions—is what to do when the stock price surges above the call strike price before expiration. In-the-money calls—those with strike prices below the stock price—can usually be rolled for a credit to the same strike in the next month or two. (If not, it typically means the stock is paying its dividend before the next expiration.) You may sometimes be able to roll to a higher strike price for a credit, but staying at the same strike price is OK, too. Many investors like rolling to the very next month, but some will roll two to three months out if it they can sell a strike that is higher than the stock price. The main risk to rolling in-the-money calls is if the stock keeps rising rather than settling down. The stock could be called away by the buyer in what is called a “forced sale”—but often not. Most investors hate paying for a time premium, or the amount of an options price that reflects the time until expiration. This means it is often possible to roll calls to strikes that are lower than the stock price without being forced to sell stock. A crucial exception is when a stock is about to pay a dividend. In that case, holders of in-the-money calls often exercise calls to collect the dividend. When all goes well, the use of simple, conservative options strategies can help you get paid to be a long-term investor. B Steven M. Sears is the president and chief operating officer of Options Solutions, a specialized asset-management firm. Neither he nor the firm has a position in the options or underlying securities mentioned in this column.

150 22 95

14 J

F M

Daily Values

40 J

Source: CBOE

F M

Source: McMillan Analysis Corp.

SPX Skew

NDX Skew

Implied volatility %

Implied volatility % 15%

13%

13 12

10 9

9 8 J

F M

8 J

Source: Credit Suisse Equity Derivatives Strategy

F M

Source: Credit Suisse Equity Derivatives Strategy

Skew indicates whether the options market expects a stock-market advance or decline. It measures the difference between the implied volatility of puts and calls that are 10% out of the money and expire in three months. Higher readings are bearish.

Week’s Most Active Company

Symbol

Tot Vol

Calls

Puts

Avg Tot Vol

IV %ile

Ratio

Mereo BioPharma

MREO

35032

33142

1890

228

153.6

La-Z-Boy

LZB

13065

2860

10205

292

44.7

F-star Therapeutics

FSTX

11734

6426

5308

524

22.4

Focus Financial Partners

FOCS

15050

14906

144

824

18.3

Revlon

REV

525411

389508

135903

38684

13.6

Radius Global Infrastructure

RADI

28338

28270

2112

13.4 13.3

Radius Health

RDUS

7887

3346

4541

592

Kirkland’s

KIRK

51541

43542

7999

4548

11.3

Traeger

COOK

9267

9138

129

876

10.6

Vroom

VRM

212280

154702

57578

21940

9.7

Weber

WEBR

54015

42355

11660

5568

100

9.7

22nd Century

XXII

36707

34091

2616

3948

9.3

IVERIC Bio

ISEE

15768

5169

10599

1736

9.1

Clovis Oncology

CLVS

192280

123518

68762

21744

8.8

Clarus

CLAR

108650

106175

2475

12948

8.4

Rite Aid

RAD

86747

62206

24541

11584

7.5

DigitalBridge

DBRG

35889

29782

6107

4964

7.2

Navios Maritime Partners

NMM

29810

11806

18004

5212

5.7

Sorento Therapeutics

SRNE

82503

67954

14549

15280

5.4

Amicus Therapeutics

FOLD

5498

4855

643

1060

5.2

This table of the most active options this week, as compared to average weekly activity – not just raw volume. The idea is that the unusually heavy trading in these options might be a predictor of corporate activity – takeovers, earnings surprises, earnings pre-announcements, biotech FDA hearings or drug trial result announcements, and so forth. Dividend arbitrage has been eliminated. In short, this list attempts to identify where heavy speculation is taking place. These options are likely to be expensive in comparison to their usual pricing levels. Furthermore, many of these situations may be rumor-driven. Most rumors do not prove to be true, so one should be aware of these increased risks if trading in these names Ratio is the Tot Vol divided by Avg Tot Vol. IV %ile is how expensive the options are on a scale from 0 to 100. Source: McMillan Analysis

June 27, 2022

BARRON’S

COMMODITIES A Risk of Recession Threatens Oil Demand By Myra P. Saefong

il is among the biggest commodity gainers of the year as global supplies remain tight, but the potential for a recession threatens demand as major producers prepare to make another decision on output levels. U.S. benchmark West Texas Intermediate and global benchmark Brent crude futures trade more than 40% higher so far this year. The S&P GSCI Energy index boasts a roughly 49% gain for the year. Oil supply is “very tight, and getting tighter,” says Darwei Kung, head of commodities and a portfolio manager at DWS Group. About two million barrels a day of Russian oil and refined-product supplies are likely “stranded at the moment from either official or voluntary sanctions.” U.S. production, meanwhile, hasn’t climbed back to pre-Covid-19 levels as pandemic-related labor shortages and supplychain constraints take time to be resolved, Kung adds. At current prices, the energy industry should be seeing significant capital investments, but increased regulations, tariffs, and the protectionist policies of some governments “inhibit the free flow of capital,” says Taylor McKenna, an analyst at Kopernik. That’s contributed to tight oil supplies and suggests high prices may continue. Some members of the Organization of the Petroleum Exporting Countries, such as Saudi Arabia and the United Arab Emirates, have the ability to raise production. Overall, however, OPEC and its allies, together known as OPEC+, have failed to collectively reach their production targets. OPEC+ underproduced its output target by 2.616 million barrels a day in May, according to a report from S&P Global Commodity Insights. There is “very limited spare capacity in the Middle East, and none outside the Middle East,” says Pavel Molchanov, an analyst at Raymond James.

Iran has the most spare capacity, but it’s subject to sanctions, he says. President Joe Biden will visit the Middle East next month, including Saudi Arabia— where he plans to discuss energy security. His visit will follow OPEC+’s production level decision on June 30. At the June 2 meeting, producers agreed to raise their collective output target in July and August by 648,000 barrels a day each month, compared with the 432,000 barrel-a-day monthly increases they have made since last year. The European Union is set to implement a ban on nearly all Russian oil imports by the end of the year. For now, however, China and India have raised their purchases of oil from Russia. OPEC members will “undoubtedly factor an economic recession into demand forecasts, but given a tenuous supply/demand balance, we don’t believe there would be a change to production levels to defend price,” says David Deckelbaum, senior analyst at Cowen. Chinese demand is expected to rebound in the fourth quarter from Covid-related lockdowns, and there’s a greater risk to the upside for crude prices beyond the $125 level, he says, though “concerns around recessionary demand slowing could temper those moves.” Rising inflation has been more of a concern as U.S. drivers face record-high gasoline prices, with Biden calling for a temporary suspension of federal gasoline taxes. Analysts at DWS are reassessing the impact of inflation and interest-rate decisions by major central banks, but for now, they forecast WTI crude at $110 a barrel by the end of June 2023, from the current $107. “We still expect to see a wide range of crude prices going forward,” says Kung. A deal with Iran to resume oil production to pre-sanction levels can replace missing barrels from Russia, he says, while the “trajectory for demand could also be altered by more aggressive central bank measures globally.” B

Disrupting the Game A conversation with Reggie Fils-Aimé

Thursday, June 30 | 1:00PM ET Barron’s speaks with Nintendo America’s former president about leadership lessons and inspiring moments from his new book. Register at events.barrons.com/disrupting-the-game

BARRON’S

June 27, 2022

CHARTING THE MARKET

A graphic look at selected stock activity for the week ended June 24, 2022 Edited by Bill Alpert

Coinbase Global

Altria Group

Carnival

Smith & Wesson Brands

COIN (NASD) • $62.71 • 11.49

MO (NYSE) • $43.40 • -1.91

CCL (NYSE) • $10.85 • 1.25

SWBI (NASD) • $16.44 • 3.03

Bitcoin and other cryptocurrencies bounced from last weekend’s lows, lifting the crypto broker’s stock. Rival Binance cut commissions to zero.

The Food and Drug Administration wants to limit nicotine levels in tobacco. It also rejected the vape products of Juul. Altria owns a third of Juul.

While reporting a May-quarter loss of $1.61 a share, the cruise operator said revenue jumped 50% sequentially. Bookings doubled and are outpacing 2019,

The U.S. Supreme Court struck down a New York gun law, and the gunsmith raised its dividends 25% after reporting a better-than-expected April quarter.

Stock Price $

373

306

239

172

105

Volume in Millions

J J

A S

Volume in Millions

F M

Volume in Millions

12 Volume in Millions

214

104

346

107

173

J J

A S

F M

J J

A S

F M

0 J J

A S

F M

Tesla

22nd Century Group

DaVita

Rite Aid

TSLA (NASD) • $737.12 • 86.84

XXII (NASD) • $2.42 • 0.78

DVA (NYSE) • $77.50 • -11.98

RAD (NYSE) • $8.69 • 2.49

At a conference, the electric-vehicle maker’s chief Elon Musk said it can sell as many cars as it can produce—leaving its waiting list of buyers long.

The FDA’s plan to limit tobacco nicotine levels is expected to benefit the small, unprofitable maker of low-nicotine tobacco products.

A health plan’s limits on payments for dialysis services like DaVita’s was upheld by the U.S. Supreme Court. DaVita had challenged the limits.

The drugstore chain raised its sales guidance, after reporting a slight rise in same-store sales, and a smaller-than-expected loss, for its May quarter.

Stock Price $

1255

139

1126

126

997

113

868

100

739

610

Volume in Millions

J J

A S

Volume in Millions

F M

Volume in Millions

2 Volume in Millions

222

111

J J

A S

F M

J J

A S

F M

0 J J

A S

F M

Century Aluminum

uniQure

Zendesk

ACADIA Pharmaceuticals

CENX (NASD) • $8.02 • -1.21

QURE (NASD) • $19.11 • 5.00

ZEN (NYSE) • $74.17 • 18.30

ACAD (NASD) • $14.98 • -4.53

Skyrocketing energy costs have forced the aluminum maker to idle its largest smelter, in Kentucky. Wall Street slashed price targets by as much as half.

The six patients that got the firm’s gene therapy for the brain disorder Huntington’s are showing promising trends in various disease measures.

Under investor pressure to find a buyer, the cloudbased customer-support company agreed to a $77.50 a share cash deal with a buyout group.

A panel of outside advisors to the FDA voted against approval of the firm’s drug for Alzheimer’s disease psychosis, finding it ineffective.

Stock Price $

157

136

115

Volume in Millions

J J

A S

Volume in Millions

F M

Volume in Millions

J J

A S

F M

J J

A S

F M

0 J J

A S

F M

The charts record the net change in share price, the high, low and closing trades, and share volume for companies with noteworthy stock activity last week. In addition, the graphs depict last week’s daily price activity in detail. The dotted line on some graphs denotes the stock’s 200-day moving average; lack of a moving average means the shares have traded for less than that time period. If the close from the current week is lower than a year ago the graph will be presented in red. If the close from the current week is higher than a year ago then the graph will be presented in green.

June 27, 2022

BARRON’S

I N S I DE SC OOP

New Relic or push for its sale or merger.

United Airlines Director Bought Slumping Shares BY ED LIN

nited Airlines Holdings stock has slumped this year, but director Edward Shapiro recently bought up millions of dollars of the company’s shares. United stock (ticker: UAL) has slipped 13% this year, less than the 18% drop in the S&P 500 index. Despite the drop in the share price, United has seen increased demand recently. In fact, it has been adding trans-Atlantic flights for the summer. The Memorial Day holiday, however, wasn’t a good one for airline passengers. Demand wasn’t a problem, but weather, air-traffic delays, crew members out sick, and other issues caused thousands of flights to be canceled. Shapiro paid a total of $4.1 million over June 2, 3, and 13 for a total of

Activist Holdings Neuronetics (STIM) Cannell Capital reported as an active investor on June 21 when it disclosed a 12.9% stake in the depression-treatment biotech. Cannell purchased 332,727 Neuronetics shares at prices ranging from $2.12 to $3.57 apiece from April 22 through June 17. Cannell now holds 3,463,846 Neuronetics shares. Along with the new investment, Cannell revealed that it requested the appointment of a representative to the biotech’s board during a June 21 call with Neuronetics Chairman

100,000 United shares, at an average price of $41.20 each, according to a form he filed with the Securities and Exchange Commission. The shares were trading Friday at $37.95. A former managing partner of investment-management firm Par Capital Management, Shapiro last purchased United stock on the open market in August 2019, when he paid $820,000 for 10,000 shares, at an average price of $82 each. United didn’t respond to a request to make Shapiro, a company director since 2016, available for comment. J.P. Morgan analyst Jamie Baker wrote in a June 8 report that “we believe that United has endured the pandemic better than most and is emerging amid favorable trends.” Baker added that his Overweight rating “reflects the efforts of United’s Next strategy beginning to take hold.” He has a $76 price target. B

Director Edward Shapiro bought more than $4 million of shares of United Airlines on the open market. It’s his first such stock buy in nearly three years.

Increases in Holdings Wave Life Sciences (WVE) RA Capital more than doubled its ownership in the Singapore-based biopharmaceutical company to 17,202,009 ordinary shares, excluding those underlying options exercisable within 60 days. RA Capital purchased 9,480,052 Wave Life Sciences shares for $2.15 apiece through a June 16 stock offering. With the offering, RA Capital purchased 7,093,656 prefunded warrants for $2.1499 each. Excluding those, RA Capital’s interest in Wave Life Sciences stands at 19.99%. The warrants are only exercisable to the extent RA Capital’s stake falls below that figure.

Decreases in Holdings SentinelOne (S) Third Point trimmed its position in the cybersecurity firm to 21,678,846 shares. On June 16, Third Point sold 650,000 SentinelOne shares at prices ranging from $20.96 to $22.10 each. Third Point now owns 9.9% of SentinelOne’s tradable stock. Daniel Loeb, CEO of Third Point, noted in a May investor letter that SentinelOne was its most-volatile holding. But he also noted the position in SentinelOne was “substantially hedged.”

Robert Cascella. New Relic (NEWR) Jana Partners sharply raised its exposure to the telemetry-analytics platform provider to 3,529,118 shares. Jana bought 2,662,433 New Relic shares from May 4 through June 9 at pershare prices ranging from $43.56 to $59.84. Jana now holds a 5.3% New Relic stake. Jana revealed that it reached a cooperation agreement with New Relic on June 6. Under the agreement’s terms, New Relic appointed two Jana representatives to its board on June 13, including partner Kevin Galligan. In return, Jana won’t seek, individually or with others, to control

These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from June 16 through June 22, 2022. Source: VerityData (verityplatform.com)

California Resources (CRC) Ares Management cut its interest in the independent oil-and-gas explorer to 4,081,942 shares. Ares sold 803,559 California Resources shares from June 7 through June 15 at prices ranging from $45.03 to $49.17 each. Ares now holds a 5.3% interest in California Resources following those sales. Ares had been cutting its California Resources stake since earlier this year.

POWER PLAY

Investors Target Nelson Peltz By CARLETON ENGLISH

ctivist investor Nelson Peltz recently found himself in an unusual position—in the crosshairs of other activists. Investors in Trian Investors 1—a U.K.-based fund tied to Peltz’s New York–based Trian Fund Management—demanded last week that the fund hold an extraordinary general meeting, or EGM, to reshape the board. The investors contend that change is needed to “restore the trust and confidence of the independent shareholders.” At issue is a shift in the fund’s strategy from its launch in 2018. Initially, the fund was supposed to invest in one underperforming company, agitate for changes, and return capital to shareholders. But last year the fund shifted to allow investing in multiple companies as well as reinvesting proceeds rather than returning them. The investors note that the vote for the change passed by a narrow margin of 52% to 48% because of votes cast by Trian-related funds and Jefferies, which has a relationship with Trian. Trian Investors 1 acknowledged receipt of the request for an EGM, and is reviewing it. Trian Investors 1 also “believes that it has consistently acted responsibly.” The investor group is made up of Invesco (ticker: IVZ), Janus Henderson Group (JHG), Pelham Capital, and Global Value Fund. In an odd twist, both Invesco and Janus have been activist targets of Trian, and Peltz serves on Janus’ board. Both Trian and the investors declined to comment further. Under U.K. law it is expected that an EGM be held within 28 days after being requested. B

BARRON’S

June 27, 2022

W I N N E R S & LO S E R S

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NYSE Biggest % Movers

NYSE Most Active

NYSE American Most Active

Winners

Volume Percentage Leaders

Name (Sym)

ConveyHealth(CNVY) Revlon(REV) RiteAid(RAD) Invitae(NVTA) Roblox(RBLX) ChewyA(CHWY) Zendesk(ZEN) UnitySoftware(U)

Volume

Change

%Chg.

13955 461223 26536 76087 167566 28019 48582 36457

10.35 7.95 8.69 3.07 36.42 38.16 74.17 46.81

+6.03 +4.22 +2.49 +0.84 +9.55 +9.46 +18.30 +11.33

+139.6 +113.1 +40.2 +37.7 +35.5 +33.0 +32.8 +31.9

Losers Name (Sym)

Volume

Change

%Chg.

GroveCollab(GROV) Avaya(AVYA) AmRltyInv(ARL) Ecopetrol(EC) EarthstoneEner(ESTE) Owlet(OWLT) Redwire(RDW) W&T Offshore(WTI)

2793 34877 157 12964 11084 3335 3518 29635

6.65 2.87 13.87 11.03 13.51 1.90 3.17 4.61

–3.35 –1.08 –3.69 –2.65 –3.23 –0.44 –0.73 –1.06

–33.5 –27.3 –21.0 –19.4 –19.3 –18.8 –18.7 –18.7

Volume

%Chg.

Change

Name (Sym)

Volume

%Chg.

Change

Name (Sym)

Volume

%Chg.

Change

FreedomI A(FACT) ErmenegildoZegna(ZGN) SouthportAcqnA(PORT) BrookfieldBus(BBUC) SpreeAcqn1 A(SHAP) Weber(WEBR) HamiltonBeach(HBB) MistrasGroup(MG) FourSeasonsEduc(FEDU) CompassDiversif(CODI) AthenaTechII A(ATEK) DPCM Cap A(XPOA) RCF Acqn A(RCFA) MusicAcqnA(TMAC) PostHldgsA(PSPC) CorsairPtrA(CORS) UnvlTechInst(UTI) Paragon28(FNA) PerimeterSolns(PRM) OilDriAmerica(ODC)

1675 6447 1413 3331 1177 16284 1606 3008 302 9481 900 1818 1001 648 504 918 6170 5533 18716 966

1922.5 1623.7 1249.8 845.0 668.3 562.8 524.0 481.8 475.4 439.7 429.3 426.9 426.3 419.8 413.4 361.1 359.5 349.1 342.6 332.1

9.80 11.54 9.95 24.44 9.97 9.56 12.73 6.31 10.92 22.10 9.85 9.90 9.94 9.83 9.69 9.68 6.88 16.62 11.21 31.77

–0.02 +1.02 +0.06 –2.03 +0.02 +1.71 +2.60 +0.30 +2.32 –1.10 +0.06 +0.01 –0.04 +0.04 –0.01 0.00 –0.90 –0.04 –0.54 +5.49

ArenaGroup(AREN) BattalionOil(BATL) LGL Group(LGL) EVI Industries(EVI) EmpirePetrol(EP) AdaraAcqnA(ADRA) InfuSystems(INFU) RadiantLogistics(RLGT) IssuerDirect(ISDR) EvansBancorp(EVBN) Envela(ELA) BarHarborBkshs(BHB) IdahoStratRscs(IDR) EvolutionPetrol(EPM) FriedmanInds(FRD) CheniereEnergy(LNG) NatlHealthcare(NHC) BlueRidgeBkshs(BRBS) MastechDigital(MHH) CheniereEnerPtrs(CQP)

1498 657 132 783 1327 473 2734 1448 148 77 470 153 268 1225 78 13652 250 275 72 1060

506.7 436.1 395.0 372.4 349.0 311.5 308.6 99.9 89.0 69.1 56.7 51.7 48.2 36.2 20.9 20.0 18.8 13.5 13.5 11.0

11.00 9.03 13.15 10.00 12.18 9.89 9.61 7.76 23.67 32.82 7.10 26.99 8.01 5.70 8.59 126.58 69.77 15.95 14.69 45.06

–1.57 –2.21 +1.59 +0.22 –3.43 +0.02 +0.85 +1.01 +2.39 –1.16 +1.00 +2.29 +1.05 –0.25 +0.39 +0.60 +1.73 +0.65 +0.16 –0.21

HomePlateAcqn(HPLT) AthiraPharma(ATHA) VMGConsumerA(VMGA) Valneva(VALN) FocusImpact(FIAC) ShoreBancshares(SHBI) WelsbachTech(WTMA) ProfessionalHldg(PFHD) StratusProp(STRS) FidelityD&D(FDBC) GrowthforGoodA(GFGD) FirstBusFinSvcs(FBIZ) WeycoGroup(WEYS) SilverSpikeInvt(SSIC) FirstWesternFin(MYFW) NorthrimBanCorp(NRIM) ColonyBankcorp(CBAN) AuraBiosciences(AURA) SilvercrestAsset(SAMG) Escalade(ESCA)

1648 29678 1202 771 1004 3277 501 2292 917 543 1176 1141 919 255 1218 943 2429 2264 1312 1386

2271.0 1923.9 1243.7 862.5 838.3 807.0 739.9 719.6 703.6 659.7 632.5 630.1 623.8 617.4 615.2 599.2 598.9 588.4 539.9 516.8

9.76 2.74 9.92 27.27 9.93 17.91 9.90 18.79 31.84 39.62 9.78 30.65 28.60 9.25 27.23 41.10 14.75 13.31 17.63 12.87

+0.01 –5.86 +0.01 +13.56 +0.02 –1.48 –0.01 –2.65 –1.95 +1.63 +0.02 –1.64 –1.64 –0.06 –3.15 +1.80 –1.02 –0.45 –0.55 +0.67

Volume

Change

%Chg.

Volume

Change

%Chg.

Change

%Chg.

461223 316118 279139 221271 220788 215235 205004 204672 195252 182849 173592 167566 165716 157806 151084 137710 132726 130897 129508 128096

7.95 24.08 7.01 12.01 10.85 32.31 2.32 10.19 20.99 4.39 12.47 36.42 2.86 14.20 57.52 14.70 23.03 4.81 10.95 86.90

+4.22 +3.31 +0.29 +0.78 +1.25 +0.39 +1.02 +1.95 +1.61 –0.10 –0.06 +9.55 +0.49 –0.73 +1.84 +2.28 +1.22 +0.22 –0.66 +0.78

+113.1 +15.9 +4.3 +6.9 +13.0 +1.2 +78.5 +23.7 +8.3 –2.2 –0.5 +35.5 +20.7 –4.9 +3.3 +18.4 +5.6 +4.8 –5.7 +0.9

116174 77179 69956 57403 46389 45180 41332 40107 39774 35342 35302 35024 27760 26183 22278 19280 19069 16986 16782 15333

2.90 0.43 0.25 0.70 3.61 1.13 3.57 0.42 0.18 0.14 0.28 0.31 1.30 1.09 2.91 5.39 1.37 1.31 1.20 5.71

–0.63 –0.04 +0.01 +0.13 –0.03 –0.29 +0.24 +0.05 +0.02 +0.04 –0.02 +0.01 +0.25 +0.09 –0.59 –0.09 +0.01 +0.12 0.00 +0.46

–17.8 –8.9 +5.6 +21.8 –0.8 –20.4 +7.2 +12.8 +10.1 +36.0 –5.6 +2.3 +23.8 +9.0 –16.9 –1.6 +0.7 +10.1 0.0 +8.8

87.08 +5.51 141.66 +10.10 116.46 +10.24 170.16 +6.42 1.70 +0.52 171.26 +12.46 6.13 +0.43 1.46 +0.26 2.89 +0.56 13.90 +0.96 737.12 +86.84 38.61 +1.64 1.95 +0.08 0.37 +0.02 267.70 +20.05 8.00 +0.81 19.21 +2.58 39.57 +0.86 44.10 +0.71 10.11 +0.77

+6.8 +7.7 +9.6 +3.9 +44.1 +7.8 +7.5 +21.7 +24.0 +7.4 +13.4 +4.4 +4.3 +5.1 +8.1 +11.3 +15.5 +2.2 +1.6 +8.2

$ Volume

Change

%Chg.

Name (Sym)

$ Volume

Change

%Chg.

13952738 495.64 12935982 117.62 11284825 86.90 9997589 303.23 8592162 57.52 8017066 144.77 7205355 24.08 6960089 32.31 6815012 182.29 6669404 283.00 6096314 144.35 5837738 141.53 5790715 93.13 5581268 36.42 5580044 185.92 5556298 117.32 5528058 151.53 5523460 385.23 5519511 278.28 5502619 50.96

+43.58 +15.38 +0.78 +12.55 +1.84 –3.61 +3.31 +0.39 +12.83 +12.27 +11.99 +4.73 +8.51 +9.55 +22.66 +4.29 +32.15 +68.34 +10.20 +1.93

+9.6 +15.0 +0.9 +4.3 +3.3 –2.4 +15.9 +1.2 +7.6 +4.5 +9.1 +3.5 +10.1 +35.5 +13.9 +3.8 +26.9 +21.6 +3.8 +3.9

CheniereEnergy(LNG) Tellurian(TELL) B2Gold(BTG) ImperialOil(IMO) UraniumEner(UEC) HoustonAmEner(HUSA) EnergyFuels(UUUU) RingEnergy(REI) GranTierraEner(GTE) NovaGoldRscs(NG) CheniereEnerPtrs(CQP) AgEagleAerial(UAVS) DakotaGold(DC) MovingiMage(MITQ) EquinoxGold(EQX) CamberEnergy(CEI) Cel-Sci(CVM) IndonesiaEnergy(INDO) DenisonMines(DNN) LineageCell(LCTX)

1744531 361688 167788 144854 141079 98770 83661 68482 54581 52337 47994 46444 41623 39497 35621 33706 32658 30481 26932 26121

126.58 2.90 3.61 46.87 3.57 5.39 5.71 2.91 1.13 5.80 45.06 0.70 3.62 1.30 5.17 0.43 4.49 7.32 1.09 1.37

+0.60 –0.63 –0.03 –1.63 +0.24 –0.09 +0.46 –0.59 –0.29 +0.40 –0.21 +0.13 –0.78 +0.25 –0.22 –0.04 +0.56 –0.45 +0.09 +0.01

+0.5 –17.8 –0.8 –3.4 +7.2 –1.6 +8.8 –16.9 –20.4 +7.4 –0.5 +21.8 –17.7 +23.8 –4.1 –8.9 +14.2 –5.8 +9.0 +0.7

By Share Volume

Winners

Name (Sym)

IncomeOppRealty(IOR) SkyHarbour(SKYH) PolymetMining(PLM) Envela(ELA) IdahoStratRscs(IDR) RadiantLogistics(RLGT) Cel-Sci(CVM) LGL Group(LGL)

Volume

Change

%Chg.

5 1014 591 470 268 1448 7222 132

12.84 5.92 3.02 7.10 8.01 7.76 4.49 13.15

+2.25 +0.88 +0.43 +1.00 +1.05 +1.01 +0.56 +1.59

+21.2 +17.5 +16.6 +16.4 +15.1 +15.0 +14.2 +13.8

Losers Name (Sym)

FreshVineWine(VINE) GeniusGroup(GNS) EmpirePetrol(EP) BattalionOil(BATL) Zedge(ZDGE) Tellurian(TELL) DakotaGold(DC) RingEnergy(REI)

Volume

Change

%Chg.

293 1049 1327 657 624 116174 11179 22278

1.65 6.55 12.18 9.03 3.24 2.90 3.62 2.91

–0.96 –3.13 –3.43 –2.21 –0.76 –0.63 –0.78 –0.59

–36.8 –32.3 –22.0 –19.7 –19.0 –17.8 –17.7 –16.9

Nasdaq Biggest % Movers

Revlon(REV) NIO(NIO) SouthwesternEner(SWN) FordMotor(F) Carnival(CCL) BankofAmerica(BAC) Boxed(BOXD) PalantirTech(PLTR) AT&T(T) ItauUnibanco(ITUB) AMC Ent(AMC) Roblox(RBLX) GinkgoBioworks(DNA) Vale(VALE) OccidentalPetrol(OXY) Snap(SNAP) Uber(UBER) Nokia(NOK) PetroleoBrasil(PBR) ExxonMobil(XOM)

By Share Volume

Name (Sym)

Volume

Change

%Chg.

USA Truck(USAK) Valneva(VALN) RainTherap(RAIN) OmegaTherap(OMGA) HilleVax(HLVX) CastleBiosci(CSTL) IkenaOncology(IKNA) MonteRosaTherap(GLUE)

3020 771 6615 3118 2421 2798 6565 1926

31.00 27.27 3.74 4.39 14.04 23.83 5.37 10.24

+16.88 +13.56 +1.42 +1.64 +4.78 +7.83 +1.76 +3.35

+119.5 +98.9 +61.2 +59.6 +51.6 +48.9 +48.8 +48.6

Losers Name (Sym)

Volume

Change

%Chg.

AthiraPharma(ATHA) GreenLightBio(GRNA) 4Dpharma(LBPS) PardesBiosci(PRDS) LongboardPharm(LBPH) 5EAdvMatls(FEAM) Pharvaris(PHVS) AcadiaPharm(ACAD)

29678 2252 214 4486 44 5536 131 37555

2.74 2.72 1.65 3.46 2.96 15.51 20.94 14.98

–5.86 –1.52 –0.77 –1.42 –1.12 –5.45 –6.56 –4.53

–68.1 –35.8 –31.8 –29.1 –27.5 –26.0 –23.9 –23.2

UnitedHealth(UNH) Alibaba(BABA) ExxonMobil(XOM) Linde(LIN) OccidentalPetrol(OXY) Chevron(CVX) NIO(NIO) BankofAmerica(BAC) J&J(JNJ) HomeDepot(HD) Procter&Gamble(PG) Boeing(BA) Merck(MRK) Roblox(RBLX) Salesforce(CRM) JPMorganChase(JPM) Snowflake(SNOW) Shopify(SHOP) BerkHathwy B(BRK.B) Verizon(VZ)

Name (Sym)

Tellurian(TELL) CamberEnergy(CEI) Zomedica(ZOM) AgEagleAerial(UAVS) B2Gold(BTG) GranTierraEner(GTE) UraniumEner(UEC) AsensusSurg(ASXC) AmpioPharm(AMPE) GreatPanther(GPL) BitNile(NILE) iBio(IBIO) MovingiMage(MITQ) DenisonMines(DNN) RingEnergy(REI) HoustonAmEner(HUSA) LineageCell(LCTX) Globalstar(GSAT) NewGold(NGD) EnergyFuels(UUUU)

By Share Volume

By Dollar Volume

Winners

Volume Percentage Leaders

Name (Sym)

NYSE American Biggest % Movers Name (Sym)

Nasdaq Most Active

Name (Sym)

AdvMicroDevices(AMD) Apple(AAPL) Amazon.com(AMZN) MetaPlatforms(META) ClovisOncology(CLVS) NVIDIA(NVDA) SoFiTech(SOFI) Vroom(VRM) Grab(GRAB) AmerAirlines(AAL) Tesla(TSLA) Intel(INTC) ContextLogic(WISH) EndoIntl(ENDP) Microsoft(MSFT) Robinhood(HOOD) Lucid(LCID) Comcast A(CMCSA) CiscoSystems(CSCO) Marqeta(MQ)

Volume

362878 315691 264994 200747 187672 185596 183125 155453 150483 146231 141184 134902 133260 126961 115588 112197 110254 109274 107559 100900

By Dollar Volume

Includes Common shares only. All figures reflect activity for the most-recent five-day trading week. Share volume figures are expressed in thousands. Volume percentage leaders exclude stocks with average daily volume of fewer than 5,000 shares or priced under $5. Average volume is based on 65 trading days. Volume figures do not reflect extended trading hours. a-Stock has not been in existence or not been traded for 65 consecutive sessions. S-Stock split or stock dividend amounting to 10% or more. X-Ex-dividend

Name (Sym)

Tesla(TSLA) Apple(AAPL) MetaPlatforms(META) NVIDIA(NVDA) AdvMicroDevices(AMD) Microsoft(MSFT) Amazon.com(AMZN) Alphabet A(GOOGL) Alphabet C(GOOG) Netflix(NFLX) Airbnb(ABNB) PayPal(PYPL) Adobe(ADBE) Intel(INTC) CiscoSystems(CSCO) CoinbaseGlbl(COIN) Costco(COST) Comcast A(CMCSA) Broadcom(AVGO) Qualcomm(QCOM)

Change

%Chg.

100687767 737.12 +86.84 43336541 141.66 +10.10 32322366 170.16 +6.42 30679317 171.26 +12.46 30531158 87.08 +5.51 29801020 267.70 +20.05 29428463 116.46 +10.24 16630464 2359.50 +216.63 14387688 2370.76 +213.45 8279499 190.85 +15.34 5718650 103.51 +4.02 5615041 77.68 +4.78 5314269 387.72 +26.93 5088065 38.61 +1.64 4694866 44.10 +0.71 4383329 62.71 +11.49 4291760 484.37 +37.68 4250109 39.57 +0.86 4231789 509.09 +10.44 4195523 125.10 +4.11

$ Volume

+13.4 +7.7 +3.9 +7.8 +6.8 +8.1 +9.6 +10.1 +9.9 +8.7 +4.0 +6.6 +7.5 +4.4 +1.6 +22.4 +8.4 +2.2 +2.1 +3.4

June 27, 2022

BARRON’S

M A R K E T VI E W Crypto Endgame Isn’t Near Paulsen’s Perspective The Leuthold Group LeutholdGroup.com

June 24: Cryptocurrencies have long been considered a flash-in-the-pan speculation, bound to end badly. Bitcoin has fallen from almost $70,000 to about $20,000 since last November and is now only $10,000 higher than in 2017. An asset with a 70% price dive in just seven months is often a sign of bankruptcy! Consequently, given the extreme price collapse in Bitcoin, judgments that the Crypto Craze is nearing its end have again intensified. That may prove correct. But, overlaying Bitcoin’s chart and the S&P 500 [suggests] the past six months’ plunge in Bitcoin isn’t that bad. Bitcoin has declined less than between December 2017 and December 2018. Moreover, in 2011 and 2014, Bitcoin experienced even larger percentage drawdowns. That is what Bitcoin does—it rises much more aggressively and collapses much more forcefully than most other investments. Therefore, massive price drops, while eye-catching, don’t suggest the asset class is insolvent. Even though the price of Bitcoin has fallen nearly three-and-one-half times more than the S&P 500 did from its recent high, they are both at the same price they were in late 2020. It’s a bear market, and while both are down substantially, neither is probably going out of business anytime soon. —James W. Paulsen

Commodities’ Sudden Slump Talking Points BMO Capital Markets bmo.com

June 24: It seems that almost no one now believes that the economy can achieve a soft landing in the face of the current inflation battle—not Fed Chair Powell, the local Uber driver, Cardi B, nor the majority of Canadians. Each has opined in their own unique communications style that the expansion is at serious risk in coming months. In his testimony to Congress this

To be considered for this section, material, with the author’s name and address, should be sent to [emailprotected].

This commentary was issued recently by money managers, research firms, and market newsletter writers. Edited by Barron’s Staff

week, Powell suggested that the path to a soft landing is becoming “more and more challenging,” and that bringing down inflation without driving up joblessness will be “significantly more challenging.” Financial markets are building in those rising risks— this week saw yields and cyclical commodity prices retreat meaningfully... One key indicator that reinforces the view that growth may soon buckle is the surprising sag in commodity prices. Oil prices dominate the airwaves on this front, and they receded slightly after a big stumble last week. Even with a firming on Friday, they are still close to the lowest levels since early May at around $107 a barrel. North American natural gas prices have taken an even bigger step down, albeit for reasons beyond the growth outlook. Perhaps more telling is the sharp pullback in industrial metals— particularly Dr. Copper. The red metal has dropped almost 20% in the past three weeks and is now at its lowest ebb since early 2021, after hitting a record high in the immediate aftermath of the Ukraine invasion. Many broad measures of ex-energy commodities— even agriculture—are now lower than preinvasion levels amid global growth concerns. —Douglas Porter

Markets and Midterms Strategy Spotlight RBC Capital Markets rbccm.com

June 21: We were surprised by how often the midterm elections came up in our recent conversations with U.S. equity investors, with several reminding us how the stock market tends to be weak ahead of the midterms and tends to rally back about a month before the election takes place. In turn, we’ve reminded investors that stocks tend to be up in midterm-election years, but with returns well below trend, with annual average/median gains of ~6% dating back to the 1930s. We’ve also pointed out that it’s not just the stock market that may get a boost from the midterms later this year. If Republicans have a good outcome, as investors are widely anticipating will be the case based on poor polling data for President Biden and the Democrats, it might also help consumer sentiment. One of the things that has jumped out to us in the University of Michigan consumer sentiment survey is that Republicans are feeling a lot worse than

“Dr. Copper...has dropped almost 20% in the past three weeks and is now at its lowest ebb since early 2021, after hitting a record high in the immediate aftermath of the Ukraine invasion.” Douglas Porter, BMO Capital Markets

Democrats. While sentiment for both Republicans and Democrats has been sliding in recent months, it’s been hitting new lows for Republicans. Meanwhile, sentiment remains above past lows for Democrats. —Lori Calvasina

The Generals Fall Technical Strategy BTIG btig.com

S&P 500 is likely before a final capitulation event, there has been enough damage done in the near-term to suggest a move higher into the end of the quarter, coinciding with a continued factor-momentum unwind. This means long-duration/growth should lead, while defensives and energy should lag. —Jonathan Krinski

Shaky Earnings Outlook

June 20: The generals have finally been shot. Through June 7, the three best-performing sectors were Energy (+65%), Utilities (+2%), and Materials (-5%). Since June 8, those are the three worst-performing sectors, down 20%, 12%, and 14%, respectively. This has brought overall breadth to nearwashout levels. Just 10% of Russell 3000 components are above their 200-day moving average, and 43% of the S&P 500 hit a 52-week low last Thursday. Yields and commodities look to have put in tactical tops, and several of the low-momentum groups (Ark Innovation ETF, SPDR S&P Biotech, etc.) didn’t make new lows last week. While we continue to think a sub-3,500

Market Sentiment

Citigroup Panic/Euphoria Model Last –0.02

Euphoria

Plumbo Pulse Palumbo Wealth Management palumbowm.com

June 18: A recession could impact corporate profits to the tune of 10% to 15%. With 2022 earnings estimates for the S&P 500 still holding at about $225, we see downside to about $200 per share. Apply a 16 price/earnings multiple on those earnings and that brings us to a target of 3,200 for the S&P 500, with the caveat that the market typically overshoots to the downside as well as the upside. Buckle up, it could be a long, difficult summer. But once growth estimates are revised, buying opportunities should appear. —Philip G. Palumbo, Doug Augenthaler

Neutral

Panic 1.2 0.8 0.4 0 -0.4 -0.8 -1.2

The panic/euphoria model is a gauge of investor sentiment. It identifies "Panic" and "Euphoria" levels which are statistically driven buy and sell signals for the broader market. Historically, a reading below panic supports a better than 95% likelihood that stock prices will be higher one year later, while euphoria levels generate a better than 80% probability of stock prices being lower one year later. Source: Citigroup Investment Research - US Equity Strategy

BARRON’S

DATA

Barron's 50-Stock Average Cash Track Charting the Market Coming Earnings Conference Call Calendar Delta Tactical Sentiment Distributions & Offerings Dividend Boosts - Reductions Dividend Ex-Payment Dates DJ Averages DJ U.S. Total Market Industry Groups Dow Jones Averages

59 53 40 59 59 59 58 60 60 57 59 57

June 27, 2022

Dow Jones Per Share Values Exchange Traded Portfolios Federal Reserve Data Bank Foreign Exchange Gold & Silver Prices Gold Mining Index Indexes P/Es & Yields Initial Public Offerings Investor Sentiment Readings Key Foreign Market Indexes Market Lab Money Rates, U.S. & Foreign

58 52 60 59 60 60 58 58 58 51 57 59

Mutual Funds N.Y. Stock Exchange Nasdaq National Market New Corporate Listings New Highs & Lows NYSE Half-Hourly Volume Other Market Indexes Pulse of the Economy Stock Splits - Special Dividends Stock Volume Trading Diary Vital Signs

53 44 48 58 61 58 57 59 60 58 57 35

Statistics from June 21-24, 2022

NEW YORK STOCK EXCHANGE COMPOSITE LIST –52-Week– High Low

Name

Tick Sym Yld P/E

Last

Div Chg. Amt.

A 52.83 39.11 54.00 9.76 18.43 32.00 11.18 10.32 79.97 27.00 67.20 150.28 13.80 15.23 61.00 129.12 7.91 10.11 4.18 9.62 131.89 22.15 9.61 19.05 10.03 0.16 61.39 46.56 58.59 34.74 142.60 175.91 48.97 23.33 14.10 9.92 417.37 9.82 224.59 57.87 13.55 50.96 10.24 40.23 244.55 138.02 10.01 57.10 6.22 2.19 71.38 48.48 11.75 191.62 9.87 10.00 179.57 26.34 41.07 67.14 75.95 50.99 316.39 160.71 9.22 63.76 93.43 291.48 37.99 98.09 88.78 26.57 299.99 224.95 230.89 13.34 862.87 30.74 148.70 28.44 73.10 57.54 42.00 144.46 56.28 186.98 21.07 17.38 10.16 90.57 35.24 10.54 57.05 11.35 23.90 17.86 3.64 22.87 13.61 99.20 101.86

30.90 25.80 38.08 6.41 8.03 5.52 6.05 9.69 58.36 18.62 51.28 96.52 6.15 2.84 9.70 82.76 1.11 9.86 1.96 6.18 78.26 16.62 1.25 10.50 9.94 0.08 44.49 15.52 40.24 14.53 101.24 105.56 17.96 15.37 9.78 9.60 268.17 9.60 142.71 37.46 6.78 27.95 9.61 19.14 164.00 80.81 9.60 27.54 3.89 1.09 37.20 35.47 2.47 112.38 9.56 9.57 112.52 16.09 14.36 45.42 61.62 29.75 216.24 108.35 6.51 38.19 74.17 163.20 19.05 31.00 63.92 17.43 213.85 130.00 73.28 6.70 585.10 13.85 93.05 5.66 56.55 35.20 32.55 106.11 31.66 21.28 16.61 9.14 9.50 43.45 7.58 9.70 41.00 4.26 9.00 7.24 2.42 2.52 10.66 79.35 42.53

AAR ABB ABMIndustries ACCO Brands AcresCmclRlty ADC Therap ADT AEA-BridgesA AECOM AES Aflac AGCO AG Mortgage a.k.a.Brands AMC Ent AMN Healthcare AMTD IDEA AP Acqn A ARC Document ASETech ASGN AT&T ATI PhysTherapy A10Networks AxiosSustGrwA AxiosSustGrwRt AXIS Capital AZEK AZZ Aaron's AbbottLabs AbbVie Abercrombie&Fitch AcadiaRealty AccelEnt AccelerateA Accenture AcropolisInfrA AcuityBrands Acushnet Adecoagro Adient AditEdTechA AdtalemGlbEduc AdvanceAuto AdvDrainageSys AdvMergerPtrsA AdvanSix Aegon Aenza AerCap AerojetRocket AevaTech AffiliatedMgrs AfricanGoldA AfterNextA AgilentTechs Agiliti agilon health AgnicoEagle AgreeRealty AirLease AirProducts AlamoGroup AlamosGold AlaskaAir AlbanyIntl Albemarle Albertsons Alcoa Alcon Alexander&Baldwin Alexanders AlexandriaRlEst Alibaba Alight Alleghany AlleghenyTechs Allegion Allego Allete AllianceBernstein AllisonTransm Allstate AllyFinancial AlphaMetal AlpineIncmProp AltaEquipment AltC Acqn Alteryx AlticeUSA AltimeterGrw2 Altria AltusPower AlumofChina AmbacFin Ambev AmbrxBio Amcor Ameren Ameresco

AIR ... ABB 2.6 ABM 1.8 ACCO 4.4 ACR ... ADCT ... ADT 2.2 IMPX ... ACM .9 AES 3.0 AFL 2.9 AGCO 1.0 MITT 11.7 AKA ... AMC ... AMN ... AMTD ... APCA ... ARC 7.5 ASX 9.2 ASGN ... T 5.3 ATIP ... ATEN 1.4 AXAC ... AXAC.RT ... AXS 3.0 AZEK ... AZZ 1.6 AAN 2.8 ABT 1.7 ABBV 3.7 ANF ... AKR 4.4 ACEL ... AAQC ... ACN 1.3 ACRO ... AYI .3 GOLF 1.8 AGRO 3.6 ADNT ... ADEX ... ATGE ... AAP 3.3 WMS .5 AMPI ... ASIX 1.4 AEG 3.6 AENZ ... AER ... AJRD ... AEVA ... AMG .0 AGAC ... AFTR ... A .7 AGTI ... AGL ... AEM 3.3 ADC 3.8 AL 2.2 APD 2.6 ALG .6 AGI 1.4 ALK ... AIN 1.1 ALB .7 ACI 1.6 AA .8 ALC .3 ALEX 4.1 ALX 8.0 ARE 3.3 BABA ... ALIT ... Y ... ATI ... ALLE 1.6 ALLG ... ALE 4.5 AB 9.2 ALSN 2.2 ALL 2.7 ALLY 3.4 AMR 1.1 PINE 5.8 ALTG ... ALCC ... AYX ... ATUS ... AGCB ... MO 8.3 AMPS ... ACH 1.0 AMBC ... ABEV 4.0 AMAM ... AMCR 3.9 AEE 2.7 AMRC ...

22 11 21 6 18 dd dd dd 46 dd 9 8 3 dd dd 13 2 ... 11 6 11 9 dd 12 ... ... 8 25 12 6 25 22 6 42 23 cc 30 dd 16 18 6 4 dd dd 20 28 cc 6 5 ... dd 22 dd 9 47 24 29 87 dd 25 42 dd 26 17 dd 11 22 95 11 13 75 38 9 52 38 dd 12 dd 19 dd 17 11 9 10 4 4 23 dd dd dd 5 cc 26 73 9 dd 16 dd 20 23 33

41.39 26.77 44.19 6.77 8.36 7.89 6.45 9.92 66.89 21.42 55.79 100.63 7.20 2.87 12.47 106.12 1.17 10.03 2.67 6.28 87.50 20.99 1.76 14.54 10.01 .10 57.69 18.24 41.76 16.18 109.45 152.34 19.47 16.19 11.00 9.78 299.37 9.72 154.68 41.04 8.65 33.17 9.82 36.64 183.10 87.78 9.78 34.89 4.53 1.27 40.99 40.14 3.59 124.04 9.79 9.66 121.29 21.10 21.98 49.22 74.12 33.02 252.08 118.56 7.13 41.92 79.29 224.79 29.36 49.36 69.59 18.42 225.34 143.53 117.62 7.48 833.50 23.17 99.60 6.19 57.75 43.15 37.97 127.16 35.15 134.07 18.39 9.50 9.68 55.57 9.48 9.82 43.40 7.02 9.56 11.81 2.57 2.87 12.41 87.91 47.24

+1.20 ... +0.12.7066 +5.18 .195 +0.20 .075 –0.08 ... +1.54 ... +0.15 .035 ... ... +4.85 .15 +2.17 .158 +2.74 .40 –7.18 4.50 +0.54 .21 –0.32 ... –0.06 ... +6.78 ... –0.03 ... +0.01 ... +0.03 .05 –0.24.3017 +8.03 ... +1.61.2775 –0.08 ... +0.78 .05 +0.01 ... ... ... +3.00 .43 +1.47 ... –0.50 .17 +0.50.1125 +6.92 .47 +14.06 1.41 +0.51 ... +0.30 .18 +0.69 ... +0.02 ... +23.99 .97 +0.06 ... +1.14 .13 +1.75 .18 –0.38.1571 +4.02 ... ... ... +4.90 ... +15.29 1.50 +5.97 .12 –0.03 ... +1.10 .125 –0.04 .096 –0.04 ... +1.41 ... +1.78 ... +0.60 ... +8.89 .01 ... ... –0.03 ... +8.58 .21 +1.08 ... +2.83 ... –1.52 .40 +5.32 .234 +2.16 .185 +16.11 1.62 +5.29 .18 ... .025 +1.50 ... +2.92 .21 +12.75 .395 +1.99 .12 +0.08 .10 +4.23 .20 +0.60 .20 +8.84 4.50 +11.75 1.18 +15.38 ... +0.62 ... +3.00 ... +0.75 ... +3.93 .41 –1.04 ... +0.47 .65 +3.08 .90 +0.33 .21 +6.60 .85 +2.33 .30 –10.64 .375 +1.19 .27 +0.16 ... –0.01 ... +8.67 ... +0.72 ... ... ... –1.91 .90 –1.57 ... –0.16.1186 +1.28 ... +0.08.0839 –0.60 ... +0.69 .12 +6.52 .59 +2.12 ...

–52-Week– High Low

22.65 22.57 40.83 11.50 65.22 38.99 44.49 199.55 152.29 44.07 65.73 23.02 103.77 303.72 25.99 189.65 14.05 11.55 40.85 332.37 167.19 148.07 5.99 6.67 88.45 9.86 18.80 10.31 19.00 10.08 26.96 75.49 9.28 132.00 11.71 48.80 533.68 21.03 341.98 55.82 8.16 10.44 26.84 16.71 81.07 9.85 18.69 111.68 141.97 180.81 39.95 20.74 37.87 183.53 23.75 10.54 98.88 10.44 37.63 8.44 60.47 9.95 49.10

14.51 14.48 28.42 6.36 46.72 11.43 27.12 136.49 119.07 32.60 44.54 9.20 71.22 220.00 13.82 129.45 2.52 9.94 23.96 233.16 111.34 106.17 2.90 3.06 61.67 2.60 9.88 9.84 12.20 9.57 14.57 50.59 5.45 8.39 8.42 10.91 355.43 9.06 223.19 39.06 5.22 9.75 14.13 9.41 45.97 9.64 13.83 80.93 94.03 84.14 28.74 12.18 22.92 53.42 14.30 2.61 56.91 6.99 22.45 4.33 43.42 9.62 16.74

Tick Sym Yld P/E

Name

AmericaMovil AmericaMovil A AmericanAssets AmericanAxle AmCampus AmerEagle AmEqtyLf AmerExpress AmericanFin AmHomes4Rent AIG AmRltyInv AmerStWater AmerTowerREIT AmerVanguard AmerWaterWorks AmericanWell AmericasTechA AmericoldRealty Ameriprise AmerisourceBrgn Ametek AmnealPharm Ampco-Pitt Amphenol AmplifyEnergy Amrep AndrettiAcqnA AngelOakMtg AngelPondA AngloGoldAsh AB InBev AnnalyCap AnnovisBio AnteroMidstream AnteroResources Anthem AnywhereRealEst Aon AptIncmREIT ApartmtInv ApeironCapA APi Group ApolloComRlEst ApolloGlbMgmt ApolloStratII A AppleHospREIT AppliedIndlTechs Aptargroup Aptiv Aramark ArborRealty ArcelorMittal ArchResources ArchaeaEnergy ArcherAviation ArcherDaniels Archrock Arconic ArcosDorados Arcosa ArctosNorthA ArcusBiosci

AMX 1.7 AMOV 1.9 AAT 4.2 AXL ... ACC 2.9 AEO 5.6 AEL .9 AXP 1.4 AFG 1.6 AMH 2.0 AIG 2.4 ARL ... AWR 1.8 AMT 2.1 AVD .5 AWK 1.8 AMWL ... ATA ... COLD 3.0 AMP 2.0 ABC 1.2 AME .8 AMRX ... ... AP APH 1.2 AMPY ... AXR ... WNNR ... AOMR 13.1 POND ... AU ... BUD .7 NLY 13.9 ANVS ... AM 9.7 AR ... ANTM 1.1 HOUS ... AON .8 AIRC 4.4 AIV ... APN ... APG ... ARI 12.6 APO 3.1 APGB ... APLE 4.0 AIT 1.4 ATR 1.5 APTV ... ARMK 1.4 ABR 10.7 MT 1.4 ARCH .7 ... LFG ACHR ... ADM 2.1 AROC 7.3 ARNC ... ARCO 2.2 ACA .4 ANAC ... RCUS ...

12 12 49 dd cc 8 5 15 6 74 5 dd 33 45 26 21 dd cc dd 10 18 25 cc dd 24 dd 8 dd dd cc 10 23 4 dd 14 dd 19 4 43 9 dd 37 dd 10 16 78 41 16 31 82 55 6 2 5 dd dd 14 50 dd 15 31 21 46

Last

Div Chg. Amt.

20.53 20.42 30.43 8.93 64.47 12.92 37.55 146.15 137.53 35.23 52.77 13.87 79.09 261.65 21.92 148.34 4.90 10.30 29.73 249.29 148.46 113.50 3.20 3.75 65.85 6.56 11.07 9.98 13.72 9.76 15.59 53.94 6.33 11.27 9.31 32.27 469.87 10.31 271.74 41.36 6.20 9.97 15.86 11.08 52.00 9.80 14.99 95.01 102.62 97.09 31.16 13.66 23.92 146.85 16.77 4.07 74.52 8.00 27.98 6.91 46.99 9.82 25.55

+1.15.1964 +1.08.1964 +0.92 .32 +1.27 ... +0.24 .47 +1.08 .18 +2.27 .34 +1.97 .52 +6.34 8.00 +2.23 .18 +1.31 .32 –3.69 ... +6.48 .365 +25.48 1.43 +0.64 .025 +16.50 .655 +0.16 ... –0.06 ... +1.78 .22 +14.19 1.25 +7.78 .46 +6.36 .22 +0.01 ... +0.19 ... +2.95 .20 –0.65 ... –0.37 ... +0.03 ... +0.84 .45 –0.02 ... –0.35 ... +2.25.3998 +0.62 .22 +0.58 ... +0.21 .225 –2.11 ... +25.55 1.28 +0.97 ... +20.09 .56 +1.14 .45 +0.37 ... +0.01 ... +1.46 ... +1.32 .35 +3.75 .40 +0.01 ... +0.28 .05 +4.64 .34 +5.12 .38 +10.25 ... +1.76 .11 +0.80 .38 –2.06 .38 –8.49 7.86 –2.81 ... –0.25 ... –2.79 .40 –0.03 .145 +1.52 ... –0.09 .03 +0.63 .05 +0.03 ... +3.53 ...

–52-Week– High Low

12.43 8.24 9.87 16.48 90.08 49.60 61.30 22.00 148.57 4.22 11.79 15.80 11.65 118.14 137.95 53.29 29.43 145.79 230.97 10.40 54.00 112.91 65.99 29.54 25.78 47.50 194.12 65.68 32.00 10.26 9.97 123.53 9.93 16.49 9.86 122.96 26.49 15.23 4.66 10.16 9.88 66.77 110.59 133.48 2267.40 191.67 259.05 55.57 39.03 9.97 44.37 27.62 229.24 61.46 46.90 34.12 62.44 28.76 27.37

5.35 3.07 9.66 11.18 53.15 35.42 36.37 10.06 85.18 2.88 5.50 12.25 5.57 73.25 105.34 32.07 15.44 16.20 146.43 9.80 4.61 81.93 13.55 17.92 17.80 33.69 144.18 44.63 8.89 9.85 9.55 65.80 9.67 10.41 9.61 85.80 18.06 2.25 1.14 9.69 9.63 20.49 66.25 93.17 1454.56 66.39 183.35 42.20 24.54 9.68 28.64 2.61 151.62 40.10 37.73 21.67 34.11 7.32 10.61

Tick Sym Yld P/E

Name

ArdaghMetalPkg ArdmoreShipping AresAcqnA AresCommRealEst AresMgmt Argan ArgoGroup ArisWater AristaNetworks ArlingtonAsset ArloTech ArmadaHoffler ArmourResREIT ArmstrongWorld ArrowElec ArtisanPtrsAsset Artivion Asana AsburyAutomotive AscendantDigA AshfordHosp AshlandGlobal AspenAerogels AssetMarkFin AssociatedBanc AssocCapital Assurant AssuredGuaranty Atento AthenaCnsmrA AthenaTechII A Atkore AtlStreetAcqn Atlas AtlasCrestII A AtmosEnergy Atotech ATRenew Audacy AusterlitzI A AusterlitzII A Autohome Autoliv AutoNation AutoZone Avalara Avalonbay Avangrid AvanosMedical AvantiAcqnA Avantor Avaya AveryDennison Avient Avista AxaltaCoating AxosFinancial Azul AzurePowerGlbl

AMBP12.6 ASC ... AAC ... ACRE10.2 ARES 4.1 AGX 2.6 ARGO 3.2 ARIS 2.0 ANET ... AAIC ... ARLO ... AHH 5.1 ARR 17.6 AWI 1.2 ARW ... APAM10.2 AORT ... ASAN ... ABG ... ACDI ... AHT ... ASH 1.3 ASPN ... AMK ... ASB 4.3 AC .6 AIZ 1.6 AGO 1.7 ATTO ... ACAQ ... ATEK ... ATKR ... ASAQ ... ATCO 4.6 ACII ... ATO 2.5 ATC ... RERE ... AUD ... AUS ... ASZ ... ATHM 1.5 ALV 3.3 AN ... AZO ... AVLR ... AVB 3.3 AGR 3.8 AVNS ... AVAN ... AVTR ... AVYA ... AVY 1.8 AVNT 2.2 AVA 4.2 AXTA ... AX ... AZUL ... AZRE ...

dd dd 98 10 29 17 dd dd 34 dd dd 67 dd 19 6 8 dd dd 6 77 dd 27 dd 25 9 32 23 9 dd dd ... 5 39 7 70 20 30 dd 23 29 31 16 19 5 19 dd 24 22 70 20 37 dd 19 17 20 19 9 4 dd

Last

Div Chg. Amt.

6.36 7.00 9.82 12.90 59.93 38.34 38.25 16.83 99.82 3.24 6.57 13.21 6.80 77.40 111.06 37.78 19.39 21.76 177.30 9.99 6.25 103.18 14.99 19.05 18.59 35.82 172.86 57.88 10.40 10.03 9.85 83.09 9.91 10.97 9.82 109.24 19.19 3.02 1.17 9.76 9.76 35.08 76.97 116.33 2158.91 84.35 195.15 46.12 26.58 9.91 31.60 2.87 165.35 42.98 41.45 24.45 36.73 7.99 13.23

+0.37 .10 –0.20 ... +0.01 ... +1.31 .02 +5.41 .61 +1.15 .25 +0.12 .31 –1.92 .09 +8.88 ... +0.21 ... +0.43 ... +0.56 .17 +0.85 .10 +2.70 .231 +3.37 ... +3.28 .76 +2.81 ... +4.31 ... +13.19 ... –0.01 ... +0.61 ... +7.73 .335 +0.18 ... +0.98 ... +0.21 .20 +1.05 .10 +3.01 .68 +4.49 .25 –1.00 ... +0.03 ... +0.06 ... –3.44 ... +0.01 ... –0.19 .125 +0.01 ... +5.73 .68 +0.47 ... +0.12 ... –0.03 ... –0.01 ... –0.01 ... +1.36 .53 +7.92 .64 +5.69 ... +166.36 ... +15.76 ... +4.16 1.59 +2.41 .44 +1.11 ... +0.01 ... +1.76 ... –1.08 ... +10.44 .75 +2.09.2375 +1.56 .44 +1.10 ... +1.91 ... –0.17 ... +1.03 ...

B 11.20

1.30 Bark

BARK ... dd

1.49 +0.03

Five-Day Dow Composite Fighting Back: The Dow jumped 5.4% this past week, on hopes that the Fed won’t be super-aggressive with its rate hikes. Salesforce.com gained 14%, while Caterpillar fell 3.7%. Monday

Tuesday

Wednesday

Thursday

Friday 31,620

H O L I D A Y (Previous Fri) 10 12 2

31,140 30,660 30,180 +641.47

-47.12

+194.23

+823.32

29,700 4

10 12 2

...

–52-Week– High Low

34.27 59.34 12.35 15.65 71.79 14.65 74.09 9.95 34.30 26.08 34.00 5.84 25.31 62.53 10.37 16.00 112.36 50.80 98.09 55.59 22.09 4.98 7.26 4.25 22.74 19.33 21.20 8.59 22.95 6.48 4.06 45.98 50.11 41.69 92.38 122.77 64.63 74.86 46.75 10.01 12.20 11.55 12.01 53.50 26.07 82.00 10.18 20.20 30.30 89.70 13.50 10.39 23.97 277.29 68.87 34.19 29.16 10.12 9.81 72.32 544389 362.10 31.78 74.73 141.97 67.49 16.12 901.00 184.00 348.50 151.51 832.70 818.60 11.25 9.90 80.95 84.27 10.01 9.98 12.86 973.16 13.20 149.78 34.04 21.04 36.83 289.23 37.01 12.76 17.89 36.10 100.01 9.84 10.00 252.30 85.17 134.50 91.46 30.48 50.09 6.96 1059.04 44.50 133.11

21.05 47.25 0.99 11.55 46.27 0.60 45.85 9.61 22.64 2.92 7.01 2.30 17.05 42.58 5.19 0.95 73.20 1.98 62.90 17.54 15.40 2.42 4.28 2.54 15.60 12.58 11.40 5.19 15.37 4.86 2.66 27.64 30.86 28.67 70.97 93.43 40.26 57.93 34.30 9.86 7.10 9.18 2.00 30.95 17.27 28.89 9.75 13.17 6.88 63.25 0.91 9.75 10.09 223.49 45.31 20.36 22.25 2.45 9.65 47.13 396500 263.68 23.15 50.10 67.66 20.41 3.67 540.33 110.56 89.87 79.01 462.61 465.00 0.48 9.60 61.95 52.00 9.76 9.39 4.70 575.60 1.00 87.39 25.99 2.57 21.08 56.01 11.47 2.27 9.75 15.85 35.00 9.60 9.65 113.02 46.51 65.79 69.68 1.33 32.58 1.12 287.00 18.68 88.02

Name

B&G Foods BCE BEST BGSF BHP Group BitMining BJ'sWholesale BoaAcqnA BP BP Prudhoe BRC BRF BRT Apartments BWX Tech Babcock&Wilcox Babylon BadgerMeter Bakkt Ball Bally's BancCalifornia BancoBBVA BancoBilbaoViz BancoBradesco BancodeChile Bladex BancoMacro BancSanBrasil BcoSantChile BcoSantMex BancoSantander BanColombia BankofAmerica BankofButterfield BankofHawaii BankofMontreal BankNY Mellon BkNovaScotia BankUnited BanyanAcqnA Barclays BaringsBDC Barnes&NobleEduc BarnesGroup BarrickGold Bath&BodyWks BatteryFutureA Bausch+Lomb BauschHealth BaxterIntl Beachbody BeardEnerA BeazerHomes BectonDicknsn Belden BellRing BenchmarkElec BensonHill BerensonAcqnI Berkley BerkHathwy A BerkHathwy B BerkshireHills BerryGlobal BestBuy BigLots BigBear.ai BiglariA BiglariB Bill.com BiohavenPharm Bio-RadLab A Bio-RadLab B BirdGlobal BiteAcqn BlackHills BlackKnight BlackMountainA BlackSpadeA BlackBerry BlackRock BlackSkyTech Blackstone BlackstoneMtg BlendLabs BlockHR Block BloomEnergy BlueApron BlueOwlCapital BluegreenVac BlueLinx BlueRiverA BluescapeOppsAcqn Boeing BoiseCascade BootBarn BoozAllen BoqiiHolding BorgWarner BorrDrilling BostonBeer BostonOmaha BostonProps

26 19 1 11 9 dd 20 29 dd 30 dd dd 9 17 22 dd 39 dd 21 dd 12 3 5 7 8 8 3 ... 7 7 5 11 9 9 13 7 11 9 9 ... ... 9 dd 16 17 7 ... ... dd 32 dd dd 2 40 32 36 21 dd 27 14 7 7 10 11 8 11 dd dd dd dd dd dd dd dd dd 18 20 dd 33 dd 16 dd 13 10 dd 10 dd dd dd dd 8 2 cc 15 dd 3 12 26 dd 13 dd dd dd 26

Last

Div Chg. Amt.

25.03 49.08 1.22 12.62 56.32 .60 65.43 9.79 28.23 20.51 7.04 2.73 21.90 53.17 6.37 1.08 81.76 2.49 71.59 20.61 17.75 2.47 4.57 2.89 18.10 13.61 11.42 5.58 16.20 5.23 2.91 34.18 32.31 31.47 77.95 95.52 43.60 58.58 36.23 9.95 7.94 9.37 3.23 31.79 18.78 30.95 9.92 15.85 8.75 66.78 1.39 9.92 12.44 250.92 52.27 25.60 22.77 3.31 9.77 68.03 417401 278.28 25.34 57.14 74.69 23.18 3.77 588.97 124.07 130.48 143.79 507.84 471.62 .56 9.80 71.49 66.21 9.96 9.73 5.75 647.78 2.42 98.87 29.03 2.83 34.82 71.00 18.08 3.31 10.85 26.49 66.64 9.81 9.90 141.53 59.17 78.13 89.54 2.00 35.69 5.55 341.29 22.04 92.00

+1.44 .475 +1.51.7253 +0.02 ... +0.63 .15 –1.442.8743 –0.48 ... +7.45 ... –0.04 ... +0.47.3276 +1.511.0875 –0.93 ... +0.32 ... +0.31 .25 +3.26 .22 +0.38 ... –0.08 ... +6.66 .20 +0.18 ... +6.68 .20 +2.00 ... +0.54 .06 –0.09 ... +0.12.2493 –0.14.0034 –1.16 .855 +0.61 .25 –0.58.6902 –0.21.0571 –1.33 ... –0.17.3272 +0.09.0571 –3.32 .828 +0.39 .21 +1.03 .44 +6.36 .70 –0.681.0812 +2.47 .34 –2.28.8012 +1.00 .25 +0.02 ... +0.17.2174 +0.07 .24 +0.66 ... +0.13 .16 –0.77 .10 –2.58 .20 ... ... +0.10 ... +1.39 ... +2.95 .29 –0.07 ... +0.02 ... +1.83 ... +15.59 .87 +1.86 .05 +2.21 ... +0.21 .165 –0.24 ... +0.01 ... +1.21 .50 +14251 ... +10.20 ... +1.16 .12 +5.22 ... +4.18 .88 +1.76 .30 –0.28 ... +6.97 ... +3.07 ... +21.01 ... –1.35 ... +44.17 ... +6.62 ... ... ... ... ... +4.68 .595 +1.52 ... +0.02 ... +0.05 ... +0.56 ... +65.52 4.88 +0.39 ... +8.62 1.32 +1.74 .62 –0.18 ... +1.82 .27 +12.49 ... +1.09 ... +0.72 ... +0.83 .10 +1.13 .15 +2.67 ... +0.01 ... ... ... +4.73 ... –5.74 2.50 +3.88 ... +8.41 .43 +0.30 ... +2.02 .17 +0.01 ... +44.60 ... +1.52 ... +1.67 .98

58 60 42

NEW HIGHS

Tick Sym Yld P/E

BGS 7.6 BCE 5.9 BEST ... BGSF 4.8 BHP 12.4 BTCM ... BJ ... BOAS ... BP 4.6 BPT 3.3 BRCC ... BRFS ... BRT 4.6 BWXT 1.7 BW ... BBLN ... BMI 1.0 BKKT ... BALL 1.1 BALY ... BANC 1.4 BBAR ... BBVA 6.1 BBDO 2.9 BCH 5.7 BLX 7.3 BMA 6.0 BSBR 8.6 BSAC ... BSMX 6.4 SAN 2.6 CIB 3.2 BAC 2.6 NTB 5.6 BOH 3.6 BMO 3.5 BK 3.1 BNS 5.5 BKU 2.8 BYN ... BCS 3.9 BBDC 9.6 BNED ... B 2.0 GOLD 2.6 BBWI 2.6 BFAC ... BLCO ... BHC ... BAX 1.7 BODY ... BRD ... BZH ... BDX 1.4 BDC .4 BRBR ... BHE 2.9 BHIL ... BACA ... WRB .5 BRK.A ... BRK.B ... BHLB 1.9 BERY ... BBY 4.7 BIG 5.2 BBAI ... BH.A ... BH ... BILL ... BHVN ... BIO ... BIO.B ... BRDS ... BITE ... BKH 3.3 BKI ... BMAC ... BSAQ ... BB ... BLK 3.0 BKSY ... BX 4.6 BXMT 8.5 BLND ... HRB 3.1 SQ ... BE ... APRN ... OWL 3.7 BVH 2.3 BXC ... BLUA ... BOAC ... BA ... BCC .8 BOOT ... BAH 1.9 BQ ... BWA 1.9 BORR ... SAM ... BOC ... BXP 4.3

Week In Stocks Weekly Bond Statistics Winners & Losers Stocks

NEW LOWS

–52-Week– High Low

47.50 13.09 33.04 17.05 72.72 58.01 6.64 14.88 9.82 26.93 87.31 25.61 33.64 17.93 171.91 4.42 31.17 10.68 17.53 64.49 80.43 79.00 0.39 40.10 47.24 27.19 10.89 185.40 28.00 8.93 62.47 85.00 36.79 53.73 46.01 45.43 74.00 72.47 75.93 108.51 57.10 12.35 23.50 10.00 86.48 128.40 12.45 357.34 14.71 29.15

Last

Div Chg. Amt.

34.98 6.96 22.18 1.27 47.66 41.70 4.18 9.23 4.26 14.03 38.68 13.80 16.51 1.47 71.38 0.51 17.69 7.09 11.21 22.31 53.73 53.22 0.07 22.02 33.62 19.42 6.12 132.40 18.96 4.43 42.86 42.53 22.64 37.93 35.28 31.10 52.18 56.97 60.23 61.89 26.56 6.11 13.81 9.60 39.24 71.73 7.24 142.41 2.31 21.43

BostonSci Bowlero Box Boxed BoydGaming Brady BraemarHtls BrandywineRealty BrasilAgro Braskem BreadFinancial BridgeInvt BrighamMin BrightHealth BrightHorizons BrightScholarEduc BrightSphere BrightSpire BrightView BrinkerIntl Brink's BristolMyers BristolMyersRt Bristow BritishAmTob BrixmorProp BroadmarkRealty BroadridgeFinl Broadstone BrookdaleSrLiving BrookfieldMgt BrookfieldReins BrookfieldBus BrookfieldInfr BrookfieldInfr BrookfieldRenew Brown&Brown Brown-Forman A Brown-Forman B Brunswick Buckle Buenaventura Build-A-Bear BuildAcqnA BuildersFirst Bunge BurfordCapital BurlingtonStrs ButterflyNtwk BylineBancorp

BSX ... BOWL ... BOX ... BOXD ... BYD .0 BRC 1.9 BHR .9 BDN 7.7 LND 16.9 BAK 22.3 BFH 2.1 BRDG 7.0 MNRL 2.4 BHG ... BFAM ... BEDU28.2 BSIG .2 BRSP 9.8 BV ... EAT ... BCO 1.4 BMY 2.7 CELG.RT80.5 VTOL ... BTI 6.6 BRX 4.6 BRMK12.0 BR 1.8 BNL 5.2 BKD ... BAM 1.2 BAMR .0 BBUC 1.0 BIPC 3.5 BIP 3.9 BEPC 3.5 BRO .7 BF.A 1.1 BF.B 1.1 BC 2.2 BKE 4.7 BVN 1.2 BBW .0 BGSX ... BLDR ... BG 2.8 BUR 2.7 BURL ... BFLY ... BY 1.5

72 dd dd dd 12 18 dd cc 4 2 2 9 16 dd 61 ... 10 57 34 7 18 28 ... dd 11 21 12 31 31 dd 19 ... dd dd 27 dd 28 40 41 9 6 5 5 75 5 7 ... 43 dd 10

38.02 10.38 26.71 2.32 53.38 46.30 4.63 9.83 5.00 14.48 39.54 14.79 23.68 1.98 84.03 .75 19.28 8.20 12.77 23.97 59.01 78.96 .13 23.12 43.95 20.86 7.01 145.59 20.76 4.79 45.65 45.66 24.44 41.22 37.09 36.43 59.06 70.47 71.51 67.54 30.04 7.10 16.77 9.75 52.80 88.39 9.27 159.98 3.48 23.98

+2.01 ... +0.10 ... +2.86 ... +1.02 ... +1.72 .15 +2.44 .225 –0.27 .01 +0.32 .19 –0.43.4586 –0.13 .708 –4.53 .21 +0.46 .26 –3.51 .44 +0.44 ... +9.72 ... –0.01 .12 +0.66 .01 +0.51 .20 +1.36 ... –0.14 ... +3.51 .20 +5.19 .54 ....1046 +0.06 ... +2.05.7354 +1.13 .24 +0.51 .07 +12.18 .64 +0.59 .27 +0.04 ... +2.28 .14 +2.11 .14 –2.03.0625 –1.82 .36 –0.57 .36 +2.25 .32 +5.56.1025 +7.05.1885 +4.94.1885 +3.64 .365 +0.79 .35 –0.28 .073 –1.01 1.25 –0.01 ... +2.32 ... –9.21 .625 +0.37.0625 +4.65 ... +0.37 ... +0.55 .09

238.29 3.09 30.68 21.66 67.68 7.41 9.75 9.65 43.19 9.87 73.76 9.88 10.61 58.51 41.44 11.21 17.07 10.41 16.15 33.78 16.96 52.28 28.72 13.37 5.22 11.22 51.00 79.33 1049.81 47.59 31.65 22.82 14.16 20.96 17.82 24.88 48.46 31.59 17.78 25.32 125.17 15.34 39.76 22.41 17.76 47.81 100.66 29.53 64.37 1.95 17.11

CACI Intl CBD Pao CBIZ CBL Assoc CBRE Group CCC Intelligent CCNeubergerII CCNeubergerIII A CF Industries C5AcqnA CGI CI&T CI Financial CMS Energy CNA Fin CNH Indl CNO Financial CNX Resources CONSOL Energy CRH CS Disco CTO Realty CTS C3.ai Curo CVR Energy CVR Partners CVS Health CableOne Cabot Cactus CadenceBank Cadre CAE Caleres CaliforniaRscs CalWtrSvc Calix CallawayGolf CallonPetrol CamdenProperty Cameco CampbellSoup CampingWorld CanadaGoose CIBC CanNtlRlwy CanNaturalRes CanPacRlwy Cango Cannae

CACI ... CBD 1.9 CBZ ... CBL ... CBRE ... CCCS ... PRPB ... PRPC ... CF 1.9 CXAC ... GIB ... CINT ... CIXX 5.1 CMS 2.8 CNA 3.5 CNHI 2.3 CNO 3.0 CNX ... CEIX ... CRH 3.3 LAW ... CTO 7.4 CTS .5 AI ... CURO 6.9 CVI 4.7 UAN .0 CVS 2.3 CABO .9 CBT 2.3 WHD 1.1 CADE 3.7 CDRE 1.7 CAE ... CAL 1.0 CRC 1.8 CWT 1.9 CALX ... ELY ... CPE ... CPT 2.8 CCJ .4 CPB 3.1 CWH 10.7 GOOS ... CM 5.2 CNI 2.0 CNQ 4.7 CP .8 CANG .0 CNNE ...

16 2 27 dd 13 dd dd 92 11 ... 18 ... 7 14 10 10 6 dd cc 11 dd 19 dd dd 9 22 6 16 20 28 42 14 dd 69 6 6 26 11 31 5 40 dd 15 4 29 10 21 8 22 24 dd

277.17 3.12 39.42 25.24 73.13 9.50 9.97 9.83 83.32 9.96 80.43 11.49 11.13 65.19 45.09 12.02 18.42 17.13 50.20 35.26 20.43 60.64 33.39 19.07 6.38 34.13 106.29 94.52 1266.56 65.14 39.11 23.99 19.15 24.95 28.54 38.07 53.89 36.14 20.83 40.68 135.11 22.50 48.44 23.47 19.85 49.02 113.77 50.52 70.58 2.77 20.89

+17.30 ... –0.30.0713 +2.01 ... –1.26 ... +2.97 ... +0.65 ... +0.01 ... +0.02 ... –3.61 .40 +0.01 ... +5.26 ... +0.15 ... +0.32.1391 +4.03 .46 +2.79 .40 –0.46.3072 +1.02 .14 –0.29 ... +4.05 ... –0.38 .955 +2.76 ... +2.54 1.12 –0.57 .04 +2.21 ... +0.53 .11 +0.12 .40 –1.45 2.26 +5.86 .55 +52.31 2.75 +3.63 .37 +0.03 .11 +0.53 .22 +0.20 .08 +2.15 ... +1.90 .07 –0.80 .17 +4.06 .25 +3.14 ... –0.19 ... –5.35 ... +6.53 .94 +1.83.0625 +3.05 .37 +0.66 .625 +1.45 ... –0.15.6468 +5.66.5776 –1.95.4622 +3.13.1498 –0.22 1.00 +2.79 ...

Name

Tick Sym Yld P/E

C 313.52 8.11 44.17 43.50 111.00 13.46 9.99 9.90 113.49 10.25 93.93 22.50 24.52 73.76 50.33 17.13 26.74 24.21 59.38 54.54 69.41 67.38 41.77 67.38 20.10 43.61 179.74 111.25 2136.14 78.62 64.18 34.24 28.49 34.19 29.94 50.44 72.08 80.95 34.80 66.48 180.37 32.49 51.94 46.77 53.64 66.24 137.19 70.60 84.22 6.04 36.50

June 27, 2022

D ATA –52-Week– High Low

15.58 25.77 177.95 72.37 64.53 24.58 275.13 155.98 28.23 24.89 44.96 66.33 58.89 19.09 111.17 376.83 142.64 9.90 12.41 237.90 19.89 10.13 62.56 28.71 176.50 13.40 7.00 9.09 24.91 89.92 33.00 10.57 112.27 9.39 30.97 4.38 86.07 130.37 29.42 5.81 36.86 460.21 206.29 15.12 2.50 90.50 539.87 44.95 10.62 146.30 182.40 97.74 7.29 16.85 21.65 12.48 10.22 9.09 55.03 35.15 19.59 1958.55 157.46 218.99 45.87 105.28 10.25 10.31 9.88 78.28 273.58 23.37 36.48 74.64 57.00 6.99 21.70 31.74 84.76 27.81 21.09 9.88 118.89 4.10 65.70 27.68 44.73 36.56 39.75 34.04 9.97 10.41 8.54 191.75 221.64 6.34 67.20 60.29 9.50 101.22 10.05 85.61 9.90 9.87 102.09 103.74 46.68 79.14 16.62 50.76 11.22 3.50 2.61 8.15 9.59 21.82 33.31 17.70 75.44 9.87 22.11 36.97 13.48 10.70 10.40 3.40 159.11 124.08

3.81 21.00 98.54 36.90 45.85 15.90 186.17 84.37 8.70 7.95 26.84 34.10 34.12 8.75 67.88 19.80 86.34 9.59 7.19 176.02 10.93 0.88 37.78 15.13 118.13 7.01 4.72 3.22 7.20 59.67 24.23 6.64 74.99 5.17 21.16 2.16 39.00 43.23 11.89 2.21 8.50 203.37 108.29 9.59 0.60 15.66 403.00 22.56 6.06 117.41 92.86 22.22 3.80 7.72 15.77 5.61 6.93 0.76 40.60 23.50 8.70 1196.28 109.09 157.19 39.12 80.34 9.22 9.70 9.64 41.63 191.74 13.37 14.96 45.40 34.50 2.45 11.05 17.21 31.74 11.71 14.96 9.60 81.56 1.08 18.79 11.87 25.07 24.17 25.39 15.31 9.63 7.15 0.55 120.50 38.96 2.11 52.28 46.91 3.01 63.92 9.68 72.20 9.55 9.61 63.07 67.91 28.77 61.08 3.90 32.57 5.76 1.97 1.61 5.01 2.91 12.43 20.30 3.56 31.85 9.63 5.05 30.06 9.75 9.60 9.72 1.15 87.24 51.41

Name

CanoHealth Canon CapitalOne Capri CardinalHealth CareTrustREIT Carlisle CarMax Carnival Carnival CarpenterTech CarriageSvcs CarrierGlobal Cars.com Carter's Carvana Catalent CatchaInvtA CatchMarkTimber Caterpillar Cato Cazoo CedarFairRec CedarRealty Celanese Celestica CementosPacasm Cemex CenovusEnergy Centene CenterPointEner CenterraGold Centerspace CentraisElBras CentralPacFin CentralPuerto CenturyComm CeridianHCM ChannelAdvisor CharahSolutions ChargePoint CharlesRiverLabs ChartIndustries ChathamLodging CheetahMobile Chegg Chemed Chemours CherryHillMtg ChesapeakeUtil Chevron ChewyA Chico'sFas ChimeraInvt ChinaEastrnAir ChinaGreenAg ChinaLifeIns ChinaOnlineEduc ChinaPetrol ChinaSoAirlines ChinaYuchai Chipotle ChoiceHotels Chubb ChunghwaTel Church&Dwight ChurchillCapV A ChurchillVI A ChurchillVII A Ciena Cigna Cinemark CircorIntl Citigroup CitizensFin Citizens CityOfficeREIT Civeo CivitasRsrcs Clarivate ClarosMtg ClassAccelA CleanHarbors ClearChannelOutdr ClearSecure ClearwaterAnalytic ClearwaterPaper ClearwayEnergyA ClearwayEnergyC Cleveland-Cliffs ClimateReal II A ClipperRealty CloopenGroup Clorox Cloudflare CN Finance Coca-Cola Coca-Cola Femsa CoeurMining Cohen&Steers CohnRobbinsA ColgatePalm ColombierAcqnA Colonnade II A Comerica ComfortSystems CommercialMetals CommBkSys CommunityHlthSys CommunityHlthcr SABESP EngGr-Cmg C EngGr-Cmg COPEL CiaSiderurgica CerveceriasUnid CompassDiversif Compass CompassMnlInt ComputeHlthA ComstockRscs ConagraBrands ConcordAcqnA ConcordAcqnIIA ConcordAcqnIII A ConcordMed Conmed ConocoPhillips

BARRON’S

NEW YORK STOCK EXCHANGE COMPOSITE LIST Tick Sym Yld P/E

CANO ... CAJ 3.0 COF 2.2 CPRI ... CAH 3.6 CTRE 5.9 CSL .9 KMX ... CCL ... CUK ... CRS 2.7 CSV 1.1 CARR 1.7 CARS ... CRI 4.0 CVNA ... CTLT ... CHAA ... CTT 2.9 CAT 2.6 CATO 5.6 CZOO ... FUN ... CDR .0 CE 2.1 CLS ... CPAC ... CX ... CVE 1.7 CNC ... CNP 2.4 CGAU 3.1 CSR 3.6 EBR 3.5 CPF 4.7 CEPU ... CCS 1.8 CDAY ... ECOM ... CHRA ... CHPT ... CRL ... GTLS ... CLDT ... CMCM ... CHGG ... CHE .3 CC 3.2 CHMI15.8 CPK 1.8 CVX 3.9 CHWY ... CHS ... CIM 14.3 CEA ... CGA ... LFC 4.9 COE ... SNP 15.3 ZNH ... CYD 4.2 CMG ... CHH .8 CB 1.7 CHT 5.6 CHD 1.1 CCV ... CCVI ... CVII ... CIEN ... CI 1.7 CNK ... CIR ... C 4.3 CFG 4.2 CIA ... CIO 6.3 CVEO ... CIVI 3.4 CLVT ... CMTG 8.2 CLAS ... CLH ... CCO ... YOU ... CWAN ... CLW ... CWEN.A 4.0 CWEN 3.8 CLF ... CLIM ... CLPR 4.8 RAAS ... CLX 3.3 NET ... CNF ... KO 2.8 KOF 4.4 CDE ... CNS 3.2 CRHC ... CL 2.3 CLBR ... CLAA ... CMA 3.6 FIX .7 CMC 1.5 CBU 2.7 CYH ... CHCT 4.8 SBS 2.4 CIG.C ... CIG ... ELP 16.4 SID 12.1 CCU 10.1 CODI 4.5 COMP ... CMP 1.6 CPUH ... CRK ... CAG 3.7 CND ... CNDA ... CNDB ... CCM ... CNMD .9 COP 2.0

dd 13 4 9 dd cc 23 14 dd dd dd 18 12 cc 10 dd 40 ... 8 16 10 ... dd dd 7 11 10 18 25 33 11 dd dd 11 8 14 3 dd 11 dd dd 28 cc dd 8 45 27 7 15 25 14 dd 8 13 dd dd 8 3 5 dd 9 55 20 10 26 28 38 64 61 17 16 dd dd 6 8 6 1 36 13 dd 18 40 21 dd dd dd dd cc cc 2 70 dd dd 38 dd 42 27 16 dd 16 cc 33 34 74 11 15 4 19 2 42 10 6 4 19 3 9 dd dd dd 45 dd 16 dd 40 25 dd 45 9

Last

Div Chg. Amt.

5.25 23.64 110.09 46.02 54.45 18.50 240.14 98.36 10.85 9.86 29.57 39.40 36.30 9.93 74.73 31.52 109.61 9.82 10.35 185.49 12.14 .96 42.80 28.61 127.57 9.89 4.92 3.89 18.83 82.95 28.85 7.13 80.34 8.50 21.95 3.07 44.84 51.59 14.74 4.00 15.46 226.32 164.18 10.47 .79 19.39 466.77 31.56 6.82 120.53 144.77 38.16 5.46 9.20 17.41 5.61 8.54 1.20 44.38 26.49 9.63 1329.02 117.24 194.53 43.71 91.61 9.82 9.79 9.77 46.94 265.13 14.81 15.55 47.86 37.03 4.31 12.66 26.06 54.01 14.65 18.15 9.82 86.92 1.24 21.91 13.15 33.01 32.25 35.16 16.48 9.81 7.84 1.16 140.75 51.84 3.14 63.04 58.00 3.51 68.32 9.94 80.38 9.70 9.78 76.52 83.02 36.65 63.73 4.20 36.01 7.88 3.00 2.06 6.42 3.12 12.69 22.10 4.06 36.72 9.81 13.19 34.10 9.94 9.69 9.96 1.99 94.07 90.91

+0.40 ... –0.21 .474 +2.83 .60 +1.02 ... +3.75.4957 +1.03 .275 +5.58 .54 +11.37 ... +1.25 ... +1.12 ... –0.02 .20 +3.76.1125 +1.89 .15 +0.72 ... +4.96 .75 +7.25 ... +7.10 ... +0.01 ... +0.08 .075 –7.15 1.20 +0.60 .17 +0.05 ... +1.44 ... +2.10 .066 +5.07 .68 +0.39 ... –0.46 ... +0.43 ... –0.20.0138 +6.63 ... +1.45 .17 +0.02.0545 +2.01 .73 +0.05.1306 +0.30 .26 –0.01 ... +4.48 .20 +6.60 ... +0.46 ... –0.05 ... +1.43 ... +22.19 ... +1.68 ... +0.22 ... +0.03 ... +0.24 ... +14.85 .36 –0.03 .25 +0.44 .27 +1.53 .535 –3.61 1.42 +9.46 ... –0.04 ... +1.13 .33 +0.81 ... –0.20 ... +0.51.4847 +0.02 ... +1.682.4674 +1.91 ... +0.09 .40 +83.42 ... –0.53.2375 +5.19 .83 +1.641.237 +9.48.2625 ... ... ... ... –0.01 ... +3.38 ... +20.61 1.12 +0.53 ... –0.11 ... +1.34 .51 +1.41 .39 +0.50 ... +1.00 .20 –0.57 ... –6.07 .90 +1.40 ... –1.05 .37 +0.01 ... +3.88 ... –0.14 ... –1.21 ... +0.52 ... +0.53 ... +2.81.3536 +3.06.3536 –0.61 ... +0.01 ... +0.21 .095 +0.29 ... +18.03 1.16 +10.63 ... +0.22 ... +3.61 .44 +2.681.3528 +0.09 ... +2.74 .55 +0.01 ... +6.34 .47 +0.01 ... –0.01 ... +1.90 .68 +7.69 .14 +0.19 .14 +1.95 .43 –0.03 ... +2.79 .44 –0.14.2004 –0.17 ... –0.04 ... –0.11.5373 –0.10.2433 –0.12.3084 –1.10 .25 +0.26 ... +1.13 .15 –0.01 ... –1.90 ... +2.73.3125 ... ... –0.01 ... –0.01 ... +0.19 ... +5.14 .20 –2.83 .46

–52-Week– High Low

101.12 10.00 261.52 300.00 21.60 14.25 75.49 23.58 11.85 463.59 29.90 97.63 32.54 43.30 49.14 14.24 7.05 24.61 43.47 6.79 30.51 9.96 64.03 21.30 18.01 36.55 11.12 46.00 44.39 42.41 114.87 11.00 10.65 182.11 11.04 19.65 10.96 32.96 21.00 209.87 130.42 9.99 9.88 57.34 147.39 17.06 247.48 162.98 23.54 11.36 76.13

Last

Div Chg. Amt.

71.17 9.61 207.35 209.90 11.79 6.70 31.40 9.24 3.75 297.34 3.53 55.25 20.00 18.41 20.45 8.23 2.12 13.51 30.96 4.63 23.89 9.60 40.60 13.24 9.64 14.28 5.90 8.98 13.36 28.67 82.14 6.96 6.72 88.67 5.53 11.90 2.75 23.39 9.73 153.70 88.09 9.60 9.63 38.67 100.35 4.88 184.28 111.26 13.90 4.54 32.19

ConEd ConstellationI A ConstBrands A ConstBrands B Constellium ContainerStore ContinentalRscs Volaris ConveyHealth Cooper Cooper-Standard Copa Core&Main CoreLabs CoreCard CoreCivic CorEnergyInfr CornerstoneBldg Corning CorpAmAirports CorpOfficeProp CorsairPtrA Corteva Cosan Costamare CoterraEnergy Coty Coupang Coursera CousinsProperties Crane Crawford A Crawford B Credicorp CreditSuisse CrescentEnergy CrescentPoint CrestwoodEquity CrossTimbers CrownCastle CrownHoldings CrownPropA CrucibleAcqnA CubeSmart Cullen/Frost Culp Cummins CurtissWright Cushman&Wkfd CustomTruck CustomersBancorp

ED 3.4 CSTA ... STZ 1.3 STZ.B 1.1 CSTM ... TCS ... CLR 1.3 VLRS ... CNVY ... COO .0 CPS ... CPA ... CNM ... CLB .2 CCRD ... CXW ... CORR 6.9 CNR ... GLW 3.3 CAAP ... OFC 4.1 CORS ... CTVA 1.0 CSAN 4.4 CMRE 4.0 CTRA 7.9 COTY ... CPNG ... COUR ... CUZ 4.2 CR 2.1 CRD.A 3.0 CRD.B 3.3 BAP 1.0 CS .7 CRGY 4.5 CPG 2.0 CEQP10.5 CRT 6.9 CCI 3.4 CCK .9 CPTK ... CRU ... CUBE 4.0 CFR 2.5 CULP 8.7 CMI 3.0 CW .6 CWK ... CTOS ... CUBI ...

21 cc dd dd 4 5 12 dd dd 17 dd 52 16 93 12 15 dd 4 26 dd 27 43 23 6 3 12 58 dd dd 16 12 15 13 10 dd ... 1 dd 14 52 dd cc 31 41 18 15 15 21 11 dd 3

92.93 9.82 245.50 255.72 13.60 7.46 65.22 11.47 10.35 323.49 5.18 63.82 22.22 19.13 23.80 11.67 2.90 24.45 32.76 5.75 26.96 9.68 53.56 13.88 11.50 26.35 8.05 12.91 15.72 30.17 88.60 8.06 7.30 124.91 5.95 12.93 7.02 24.99 17.15 174.99 95.43 9.85 9.82 43.52 118.44 5.26 195.02 131.20 15.21 5.38 35.18

+6.05 .79 –0.01 ... +17.80 .80 –8.57 .72 –0.06 ... +0.41 ... –0.61 .28 +0.95 ... +6.03 ... +18.55 .03 +0.75 ... +3.80 ... +1.51 ... –0.96 .01 +3.12 ... +0.81 ... +0.33 .05 +0.33 ... +0.88 .27 +0.14 ... +0.59 .275 ... ... +0.34 .14 –0.38.2635 –0.45 .50 –0.19 .45 +1.01 ... +0.94 ... –0.62 ... +0.55 .32 +4.36 .47 +0.46 .06 +0.33 .06 +0.013.9936 +0.06.0528 –1.09 .17 –0.84.0503 +0.18 .655 –0.29.2722 +18.84 1.47 +2.45 .22 ... ... –0.01 ... +3.52 .43 +1.03 .75 +0.20 .115 +3.47 1.45 +5.75 .19 +0.44 ... +0.51 ... +0.82 ...

9.60 23.58 2.97 4.55 9.65 6.01 93.29 38.21 27.28 13.07 233.71 58.00 3.09 32.20 110.96 58.70 74.97 212.93 295.59 36.56 13.48 38.33 28.76 20.90 9.76 58.09 11.24 1.26 6.66 8.96 24.05 166.24 6.37 7.68 3.31 63.45 2.19 1.35 124.11 4.49 30.05 160.51 61.30 2.51 9.78 88.02 92.01 9.69 69.18 8.56 183.25 1.16 70.37 321.15 46.00 24.60 56.67 10.77 17.22 27.80 4.77 21.87 117.17 50.42 27.06 47.88 18.17 1.01 17.20 40.00 95.48 47.03 13.67 54.59 20.05

D&ZMediaA DCP Midstream DHI Group DHT DPCM Cap A DRDGOLD DTE Energy DT Midstream DXC Tech Dana Danaher Danaos DanimerScientific DaqoNewEnergy Darden DarlingIngred DaVita DeckersOutdoor Deere DelekLogistics DelekUS DellTechC DeltaAir Deluxe DelwindsInsA Denbury DesignerBrands DesktopMetal Despegar.com DeutscheBank DevonEnergy Diageo DiamondOffshore DiamndrckHspty DianaShipping Dick's DieboldNixdorf DigitalMedia DigitalRealty DigitalBridge DigitalOcean Dillard's DineBrands Dingdong DirectSellingA DiscoverFinSvcs Disney dMYTechGroupVI DolbyLab Dole DollarGeneral Doma DominionEner Domino's Donaldson DonnelleyFin DoorDash DorianLPG DoubleVerify DouglasDynamics DouglasElliman DouglasEmmett Dover Dow Doximity DrReddy'sLab Dril-Quip DriveShack DuckhornPtf Ducommun DukeEnergy DukeRealty Dun&Bradstreet DuPont DutchBros

DNZ ... DCP 5.5 DHX ... DHT 1.3 XPOA ... DRD ... DTE 2.9 DTM 5.1 DXC ... DAN 2.6 DHR .4 DAC 4.8 DNMR ... DQ ... DRI 3.8 DAR ... DVA ... DECK ... DE 1.5 DKL 8.0 DK .0 DELL ... DAL ... DLX 5.2 DWIN ... DEN ... DBI 1.4 DM ... DESP ... DB 2.2 DVN 6.7 DEO 2.2 DO ... DRH ... DSX 16.0 DKS 2.3 DBD ... DMS ... DLR 3.5 DBRG ... DOCN ... DDS .3 DIN 3.0 DDL ... DSAQ ... DFS 2.4 DIS ... DMYS ... DLB 1.3 DOLE 3.6 DG .9 DOMA ... D 3.4 DPZ 1.1 DCI 1.9 DFIN ... DASH ... LPG .0 DV ... PLOW 3.9 DOUG 3.9 DEI 4.9 DOV 1.6 DOW 5.3 DOCS ... RDY .6 DRQ ... DS ... NAPA ... DCO ... DUK 3.8 DRE 1.9 DNB ... DD 2.3 BROS ...

cc 17 dd dd 68 8 26 15 11 16 30 1 68 4 15 15 9 17 16 13 dd 7 39 21 dd 31 7 dd dd 7 10 26 dd dd 7 7 dd dd 29 dd dd 5 12 dd 28 6 67 dd 37 dd 25 dd 22 30 19 8 dd 8 cc 27 6 51 16 6 56 29 dd dd 40 4 22 21 dd 20 ...

9.80 28.52 5.14 6.21 9.90 6.45 122.91 48.16 32.15 15.19 256.83 62.02 5.20 67.21 119.81 61.65 77.50 273.32 310.87 49.22 25.00 50.25 31.20 22.87 10.00 65.91 14.60 2.55 8.47 9.46 53.77 182.80 6.54 8.38 4.57 84.39 2.49 1.55 138.80 5.09 47.75 259.85 67.71 5.40 10.01 99.17 97.78 9.75 76.00 8.98 247.90 1.22 78.14 396.54 48.08 30.58 74.11 14.69 24.49 29.58 5.14 22.95 123.22 53.14 41.50 55.92 24.35 1.51 21.45 43.70 104.53 57.45 15.36 58.55 36.87

–0.02 ... –1.02 .39 –0.38 ... +0.86 .02 +0.01 ... +0.07 ... +7.19 .885 +0.18 .64 +1.96 ... +1.58 .10 +18.23 .25 –5.41 .75 +1.11 ... +8.77 ... +5.61 1.21 –6.81 ... –11.98 ... +23.01 ... –11.85 1.13 +5.72 .98 –2.24 .20 +2.66 ... +0.94 ... +1.39 .30 –0.01 ... +2.30 ... +0.62 .05 +0.29 ... +0.98 ... –0.45.1559 –4.25 1.11 +11.011.5713 –1.01 ... ... ... –0.45 .25 +10.56.4875 +0.17 ... +0.04 ... +11.62 1.22 +0.35 ... +5.79 ... –13.42 .20 +0.58 .51 +0.85 ... –0.01 ... +4.75 .60 +3.44 ... –0.03 ... +5.01 .25 +0.11 .08 +17.10 .55 –0.17 ... +4.73.6675 +17.37 1.10 +1.81 .23 +3.08 ... +12.42 ... +0.26 2.50 +3.29 ... +1.65 .29 +0.24 .05 +0.19 .28 +5.93 .50 –1.63 .70 +7.64 ... +2.71.3365 +0.36 ... +0.11 ... +2.11 ... +0.19 ... +6.71 .985 +6.01 .28 +0.79 ... +2.26 .33 +3.55 ...

Name

Tick Sym Yld P/E

D 9.87 39.54 7.57 7.19 10.33 11.12 140.23 59.36 44.18 25.59 333.96 107.47 27.19 90.48 164.28 87.59 136.48 451.49 446.76 58.55 35.23 61.54 46.27 48.33 10.89 91.30 18.30 13.21 14.13 16.70 79.40 223.14 12.04 11.15 6.89 147.39 13.95 10.63 178.22 8.55 133.40 416.71 95.00 46.00 10.05 135.69 187.58 10.45 104.25 17.66 262.21 10.00 88.78 567.57 69.35 52.33 257.25 18.50 48.42 45.66 12.66 36.97 184.05 71.86 107.79 75.50 41.23 3.58 25.25 58.18 116.33 66.22 22.84 85.16 81.40

–52-Week– High Low

Name

105.28 62.88 DycomInds 4.49 2.55 DynagasLNG 80.13 29.41 Dynatrace 19.37 13.96 DynexCapital

Tick Sym Yld P/E

DY DLNG DT DX

Last

Div Chg. Amt.

... 43 95.49 +10.18 ... ... 2 3.31 –0.25 ... ... cc 44.08 +5.62 ... 9.7 7 16.04 +1.48 .13

E 9.95 33.63 135.98 32.56 147.99 725.40 56.38 9.85 50.41 58.08 97.55 9.90 28.92 13.32 169.15 22.25 23.65 229.84 129.48 9.30 175.72 238.93 19.81 17.29 51.86 73.32 131.73 28.68 37.49 189.84 12.49 26.92 4.26 19.60 12.66 10.11 12.90 14.70 19.40 5.62 68.03 105.99 12.26 43.46 9.95 7.90 47.67 85.75 44.25 172.41 35.28 6.44 2.98 44.16 12.48 22.10 28.26 18.58 100.23 20.08 23.21 38.83 25.25 21.76 47.88 94.03 10.05 117.63 126.82 28.65 9.34 85.99 52.03 91.06 4.15 300.11 39.15 37.13 11.52 28.84 9.94 88.70 94.32 2.91 12.65 21.70 33.60 50.17 32.92 53.93 363.36 374.20 28.09 13.82 11.84 10.25 22.52 164.63 10.05 308.20 73.13 26.61 94.63 51.06 34.60 49.38 30.82 10.24 8.67 21.36 7.70 228.84 105.57

9.59 20.49 95.64 21.91 62.81 168.59 41.14 9.57 15.71 42.78 60.03 9.61 2.89 7.01 105.34 7.01 18.01 148.33 85.94 3.46 123.69 143.82 10.78 9.12 32.00 54.14 85.58 5.18 19.56 50.74 6.78 17.56 2.07 12.74 6.40 9.55 9.02 10.20 8.37 2.42 26.85 76.77 6.53 36.23 9.62 4.15 36.21 53.03 40.00 82.73 17.42 3.06 1.09 25.18 7.96 8.34 16.25 4.78 57.76 4.81 7.80 16.51 24.99 16.55 25.80 54.43 9.57 79.80 98.50 20.42 4.21 51.39 35.24 51.20 2.09 169.25 18.45 25.22 5.87 25.00 9.72 67.57 67.48 1.81 8.89 8.36 1.36 35.53 19.73 40.97 250.62 225.39 19.89 7.55 5.69 9.70 9.71 91.41 9.80 234.87 59.34 15.05 77.07 33.57 20.25 30.21 20.64 9.65 2.00 10.35 2.67 156.70 52.10

EG Acqn A elfBeauty EMCOR ENI EOG Rscs EPAM Systems EPR Prop EQ Health A EQT ESAB ESCO Tech ESM Acqn A ESSTech E2open EagleMaterials EarthstoneEner EasterlyGovtProp EastGroup EastmanChem EastmanKodak Eaton Ecolab Ecopetrol Ecovyst EdgewellPersonal EdisonInt EdwardsLife 8x8 ElancoAnimal Elastic EldoradoGold ElementSolns ElevateCredit EllingtonFin EllingtonResiMtg ElliottOppIIA EmbotellAndinaA EmbotellAndinaB Embraer EmeraldHldg EmergentBiosol EmersonElec EmpireStateRealty EmployersHldgs Empower&IncA EmpresaDisCom Enbridge EncompassHealth EncompassHlthWi Endava Endeavor EndeavourSilver EnelChile Energizer EnergyTransfer EnergyVault EnerpacTool Enerplus EnerSys Eneti Enfusion EngageSmart Enhabit Ennis EnovaIntl Enovis EnphysAcqnA EnPro Entergy EnterpriseProd Entravision Envestnet Envista Enviva EnzoBiochem Equifax Equinor Equitable EquitransMdstm EquityCommnwlth EquityDistrA EquityLife EquityResdntl EquusTotReturn ErmenegildoZegna EroCopper ErosMedia EssentGroup EssentialProp EssentialUtil EssexProp EsteeLauder EthanAllen Euronav EveHolding EVeMobilityA Eventbrite EvercoreA EverestConsolidA EverestRe Evergy Everi EversourceEner Evertec EvolentHealth EvoquaWater ExcelerateEner ExecutiveNtwkA Express Expro Exterran ExtraSpaceSt ExxonMobil

EGGF ... ELF ... EME .5 E 5.5 EOG 2.7 EPAM ... EPR 6.9 EQHA ... EQT 1.4 ESAB .4 ESE .5 ESM ... GWH ... ETWO ... EXP .9 ESTE ... DEA 5.6 EGP 2.7 EMN 3.3 KODK ... ETN 2.5 ECL 1.3 EC 13.2 ECVT .0 EPC 1.7 EIX 4.5 ... EW EGHT ... ELAN ... ESTC ... EGO ... ESI 1.7 ELVT ... EFC 12.0 EARN12.7 EOCW ... AKO.A14.9 AKO.B14.4 ERJ ... EEX ... EBS ... EMR 2.5 ESRT 1.9 EIG 2.5 EPWR ... EDN ... ENB 6.4 EHC 2.0 EHC.WI ... DAVA ... EDR ... EXK ... ENIC 1.3 ENR 4.2 ET 7.9 NRGV ... EPAC .2 ERF 1.2 ENS 1.1 NETI .6 ENFN ... ESMT ... EHAB.WI ... EBF 5.3 ENVA ... ENOV ... NFYS ... NPO 1.4 ETR 3.7 EPD 7.8 EVC 2.1 ENV ... NVST ... EVA 5.7 ENZ ... EFX .8 EQNR 1.7 EQH 2.9 ETRN 9.0 EQC ... EQD ... ELS 2.2 EQR 3.5 EQS ... ZGN ... ERO ... EMWP ... ESNT 2.1 EPRT 5.0 WTRG 2.3 ESS 3.4 EL .9 ETD 6.0 EURN 1.0 EVEX ... EVE ... EB ... EVR 2.9 MNTN ... RE 2.3 EVRG 3.6 EVRI ... ES 3.1 EVTC .5 EVH ... AQUA ... EE ... ENPC ... EXPR ... XPRO ... EXTN ... EXR 3.5 XOM 4.1

42 70 15 4 15 42 31 dd dd ... 28 40 dd dd 12 72 55 35 15 cc 24 42 4 19 16 41 40 dd dd dd dd 26 dd 10 dd 49 8 9 cc dd 11 17 dd 13 42 dd 18 15 ... 59 cc 45 13 12 10 dd 34 13 18 27 dd dd ... 15 5 99 54 10 21 12 16 dd 21 dd dd 30 9 7 dd dd 39 48 20 10 dd 4 ... 5 25 27 43 30 6 dd 22 dd dd 6 dd 8 18 10 22 16 dd 75 ... cc 8 dd dd 28 14

9.74 28.33 105.63 24.51 110.59 326.01 47.60 9.84 35.09 45.64 67.23 9.80 3.58 8.36 107.66 13.51 19.06 163.50 92.45 5.30 131.83 159.65 11.03 9.97 34.95 62.79 96.98 5.81 20.61 77.58 7.11 18.68 2.60 15.03 7.56 9.72 9.49 10.78 9.50 3.64 32.76 82.03 7.32 41.40 9.83 4.66 41.78 57.39 44.25 100.14 21.91 3.53 1.19 28.67 10.10 9.42 19.42 12.95 60.92 6.50 11.22 17.03 25.00 18.99 29.63 58.26 9.64 82.95 110.55 23.99 4.74 54.92 38.39 60.53 2.09 184.83 32.54 27.25 6.65 27.81 9.92 73.45 71.82 2.56 11.54 9.30 2.14 39.35 21.56 45.96 261.71 270.20 21.36 12.34 6.34 9.92 11.44 97.98 9.98 283.19 64.11 16.76 83.35 36.45 31.60 32.98 20.83 10.01 2.23 11.25 4.56 172.37 86.90

+0.01 ... +2.70 ... +9.37 .13 –0.67.9356 –1.08 .75 +30.33 ... +2.55 .275 +0.05 ... –0.85 .125 +2.21 .05 +4.38 .08 +0.01 ... –0.07 ... +0.63 ... –1.88 .25 –3.23 ... +0.22 .265 +15.02 1.10 +4.78 .76 –0.06 ... +6.31 .81 +11.48 .51 –2.65.8612 +0.42 3.20 +2.43 .15 +3.87 .70 +9.19 ... +0.22 ... +0.06 ... +12.32 ... –0.22 ... +0.67 .08 –0.02 ... +1.66 .15 +0.79 .08 ... ... –0.551.0671 –1.471.462 +0.63 ... +0.49 ... +4.21 ... +3.38 .515 +0.47 .035 +2.15 1.00 ... ... +0.01 ... +1.29.6645 +0.98 .28 ... ... +11.56 ... +1.64 ... +0.04 ... –0.11.0154 +2.58 .30 +0.27 .20 –0.71 ... +1.46 .04 –1.13 .043 +2.04 .175 –0.22 .01 +1.29 ... –0.32 ... ... ... +1.93 .25 +2.21 ... +1.78 ... +0.02 ... –0.35 .28 +8.09 1.01 +0.54 .465 +0.06 .025 +1.92 ... +2.80 ... +1.85 .905 –0.10 ... +11.71 .39 –1.50 .40 +1.36 .20 +0.20 .15 +0.10 ... –0.02 ... +3.67 .41 +1.43 .625 –0.09 ... +1.02 ... –0.32 ... –0.02 ... +2.42 .21 +0.78 .27 +4.38.2682 +5.63 2.20 +32.37 .60 +1.12 .32 +1.14 .06 –1.10 ... ... ... +0.99 ... +4.10 .72 ... ... +14.07 1.65 +3.97.5725 +1.06 ... +5.37.6375 +2.88 .05 +4.34 ... +2.00 ... –3.66 ... –0.09 ... +0.23 ... +0.04 ... –0.19 ... +12.90 1.50 +0.78 .88

... 11 10.12 ... 31 9.80 1.3 11 38.58 ... dd 5.03 ... dd 8.45 2.0 18 108.23

+0.01 ... +0.02 ... +0.34 .13 +0.62 ... +1.06 ... +4.25 .53

F 14.10 10.01 FastAcqnA 9.87 9.60 FastAcqnII A 48.04 34.99 FB Financial 17.75 4.21 F45Training 50.40 6.93 Figs 140.99 87.27 FMC

FST FZT FBK FXLV FIGS FMC

–52-Week– High Low

14.11 14.37 23.45 178.14 126.28 495.40 553.97 11.30 53.77 16.43 64.07 11.50 124.37 137.01 140.51 48.88 39.82 302.65 183.67 278.78 56.44 152.20 10.12 8.43 10.29 9.88 81.54 16.62 17.63 7.30 24.24 66.74 10.28 16.14 222.86 48.85 23.75 8.93 262.90 56.77 9.84 282.02 33.36 145.89 1.97 29.73 43.63 31.32 89.59 63.98 25.87 10.02 22.60 47.50 48.88 51.66 79.87 9.98 9.99 10.11 5.82 109.23 26.20 30.13 29.40 169.32 17.74 52.52 38.27 9.86 51.99 42.13 34.09 11.57 35.10 21.07 81.73 9.83 10.63

B A R R O N S .C O M / D ATA Last

Div Chg. Amt.

10.48 6.42 18.09 131.50 74.57 326.21 340.48 9.76 6.53 10.62 9.50 4.05 85.50 90.38 92.02 31.86 27.88 192.82 105.58 167.45 34.59 85.00 9.63 1.71 9.60 2.68 48.81 10.88 12.36 0.80 14.67 45.80 9.73 7.24 133.37 35.32 7.95 3.80 29.04 32.71 9.57 200.78 12.50 59.91 0.53 22.61 27.50 14.41 67.15 26.36 10.90 9.60 13.06 9.10 11.94 43.12 53.05 9.61 9.65 9.50 2.66 56.86 14.71 24.24 6.41 124.95 12.45 31.59 22.76 9.60 28.87 23.29 22.63 6.10 2.49 4.12 57.61 9.60 6.15

FNB FreyrBattery FS KKR Cap FTI Consulting Fabrinet FactSet FairIsaac FarPeakAcqnA Farfetch FarmlandPtrs Fastly FathomDigital FedAgriMtg A FedAgriMtg C FederalRealty FederalSignal FederatedHermes FedEx Ferguson Ferrari FidNatlFin FidNatlInfo FigureAcqnI A FinanceofAm FinTechEvolA FinVolution FirstAmerFin FirstBanCorp FirstCmwlthFin First HS Educ FirstHorizon FirstIndRlty FirstLightAcqnA FirstMajestic FirstRepBank FirstEnergy Fisker FivePoint FiverrIntl Flagstar FlameAcqnA FleetCorTech FlexLNG Floor&Decor FlotekIndustries FlowersFoods Flowserve Fluor FomentoEconMex FootLocker FordMotor ForestRoadII A Forestar ForgeGlobal ForgeRock Fortis Fortive FortressCapA FortressVal III A FortressValueIV A FortunaSilver FortBrandsHome ForumEnergyTech FourCornersProp FourSeasonsEduc Franco-Nevada FrankBSPRealty FranklinCovey FranklinRscs FreedomI A FreeportMcM FreseniusMed FreshDelMonte Frontline fuboTV FullTruck FullerHB FusionAcqnIIA FutureFuel

FNB 4.3 FREY ... FSK 14.1 FCN ... FN ... FDS .9 FICO ... FPAC ... FTCH ... FPI 1.7 FSLY ... FATH ... AGM.A 4.1 AGM 3.9 FRT 4.3 FSS 1.0 FHI 3.4 FDX 1.9 FERG 2.2 RACE ... FNF 4.7 FIS 1.9 FACA ... FOA ... FTEV ... FINV 3.9 FAF 3.8 FBP 3.6 FCF 3.6 FHS ... FHN 2.7 FR 2.4 FLAG ... AG .3 FRC .7 FE 4.2 FSR ... FPH ... FVRR ... FBC .7 FLME ... FLT ... FLNG10.8 FND ... FTK ... FLO 3.4 FLS 2.7 FLR ... FMX 2.1 FL 5.4 F 3.3 FRXB ... FOR ... FRGE ... FORG ... FTS 3.6 FTV .5 FCAX ... FVT ... FVIV ... FSM ... FBHS 1.8 FET ... FCPT 4.9 FEDU ... FNV .9 FBRT 9.5 FC ... BEN 4.6 FACT ... FCX 1.9 FMS 2.0 FDP 2.2 FRO ... FUBO ... YMM ... FUL 1.2 FSNB ... FF 3.4

10 dd 2 27 17 36 27 dd 3 dd dd 29 8 9 30 22 12 16 ... 35 5 67 62 dd 39 4 5 9 10 3 13 26 58 cc 19 17 dd dd dd 4 33 21 9 28 dd 25 40 dd 27 4 4 40 5 dd dd 22 31 30 37 37 14 11 dd 24 ... 36 dd 28 7 cc 9 14 21 dd dd dd 19 40 14

11.16 6.93 19.30 177.62 83.21 392.52 416.15 9.81 9.43 13.88 13.20 4.26 93.00 98.29 99.53 35.97 32.15 243.24 113.58 191.94 37.59 98.63 9.80 1.73 9.82 4.75 53.51 13.43 13.51 .83 22.34 49.07 9.95 8.01 146.91 37.29 9.19 3.94 39.47 35.27 9.80 217.50 27.88 72.95 1.07 26.23 29.23 23.72 68.29 29.55 12.01 9.78 13.84 10.79 22.56 46.36 56.28 9.85 9.84 9.78 3.14 63.24 20.58 27.06 10.92 138.47 13.99 40.51 25.34 9.80 30.99 24.95 27.45 8.98 2.95 9.15 61.87 9.81 7.15

+0.45 .12 –0.48 ... +0.84 .68 +13.60 ... +7.30 ... +43.19 .89 +37.12 ... –0.01 ... +1.52 ... –0.23 .06 +2.26 ... +0.01 ... –5.13 .95 +4.66 .95 +4.82 1.07 +2.03 .09 +2.90 .27 +13.34 1.15 +3.93 .84 +15.91 ... +2.49 .44 +6.79 .47 +0.01 ... –0.07 ... +0.04 ... +0.24 .205 +3.46 .51 +0.30 .12 +0.35 .12 –0.06 ... +1.12 .15 +2.94 .295 +0.01 ... +0.09 .006 +10.61 .27 +1.38 .39 +0.65 ... ... ... +6.19 ... +1.93 .06 +0.01 ... +4.99 ... +3.67 .75 +9.41 ... –0.03 ... +1.56 .22 +1.44 .20 –0.50 ... –0.24.5677 +0.85 .40 +0.78 .10 +0.02 ... +0.49 ... –1.22 ... +3.29 ... +1.86.4227 +2.72 .07 +0.01 ... ... ... +0.02 ... +0.07 ... +4.98 .28 –1.49 ... +1.35.3325 +2.32 ... –0.53 .32 –0.11 .355 +3.76 ... +2.03 .29 –0.02 ... –2.83 .075 –0.85.7085 +4.63 .15 +0.64 ... +0.13 ... +0.55 ... +1.59 .19 +0.02 ... –0.12 .06

18.30 84.50 9.66 20.76 5.21 24.16 36.10 9.70 3.51 37.80 9.64 9.62 42.84 135.50 77.58 2.93 1.15 8.41 92.53 221.39 10.64 2.68 1.50 13.21 197.94 182.66 63.08 56.67 30.65 9.66 50.01 7.49 4.74 2.31 37.68 115.63 3.23 9.50 4.17 24.66 9.80 26.86 2.09 44.43 6.57 33.33 3.96

GAMCO Investors GATX G&P Acqn A GCPAppliedTechs GEO Group GFLEnvironmental GMS GoAcqnA GOL Linhas GSK GSquaredIIA GSquaredI A GXO Logistics Gallagher GameStop Gannett GaotuTechedu Gap Garmin Gartner GatesIndustrial GatosSilver Gelesis GencoShipping Generac GeneralDynamics GeneralElec GeneralMills GeneralMotors GenAsia I A Genesco GenesisEnergy GenieEnergy GeniusSports Genpact GenuineParts GenworthFin GeoPark Gerdau GettyRealty GigCapital5 Gildan GinkgoBioworks GlacierBancorp Glatfelter Glaukos GlobalBlue

GBL .7 GATX 2.2 GAPA ... GCP ... GEO ... GFL .2 GMS ... GOAC ... GOL .0 GSK 4.6 GSQB ... GSQD ... GXO ... AJG 1.2 GME ... GCI ... GOTU ... GPS 6.3 GRMN 2.9 IT ... GTES ... GATO ... GLS ... GNK 17.2 GNRC ... GD 2.3 GE .5 GIS 2.9 GM ... GAQ ... GCO ... GEL 7.3 GNE 3.6 GENI ... G 1.2 GPC 2.6 GNW ... GPRK 2.5 GGB .6 GTY 6.2 GIA ... GIL 2.4 DNA ... GBCI 2.7 GLT 7.7 GKOS ... GB ...

8 19 19 cc 16 dd 8 42 dd 16 26 79 30 36 dd cc dd dd 18 27 13 dd dd 4 30 19 dd 19 6 cc 7 dd 4 dd 22 21 2 8 3 19 dd 9 dd 18 dd dd dd

21.66 93.74 9.94 31.34 6.80 27.36 44.41 9.97 4.02 43.69 9.80 9.82 45.69 165.25 135.21 3.12 1.98 9.46 100.13 251.29 11.08 3.32 1.60 18.37 224.55 222.33 67.08 70.63 34.82 9.82 56.66 8.19 8.34 2.78 43.17 136.75 3.59 12.90 4.40 26.46 10.03 28.65 2.86 48.39 7.32 47.26 4.66

+2.42 .04 +1.75 .52 ... ... +0.41 ... +0.52 ... +2.47 .012 +4.71 ... +0.01 ... +0.10.0023 +2.42.3421 ... ... ... ... +0.52 ... +15.54 .51 +0.07 ... +0.03 ... –0.08 ... +0.33 .15 +6.66 .73 +20.96 ... +0.14 ... +0.39 ... –0.35 ... –2.07 .79 +4.30 ... +12.55 1.26 +1.08 .08 +4.40 .51 +2.94 ... +0.03 ... +3.32 ... –0.92 .15 +0.48 .075 +0.23 ... +1.55 .125 +9.53 .895 +0.12 ... –0.80 .082 –0.19 .116 +0.98 .41 +0.02 ... +1.12 .169 +0.49 ... +2.38 .33 +0.52 .14 +3.77 ... –0.09 ...

Name

Tick Sym Yld P/E

G 29.80 127.58 10.00 32.28 9.81 43.71 61.79 9.98 10.10 46.97 9.95 9.95 105.92 187.02 255.69 7.05 15.92 34.49 178.81 369.00 18.69 20.00 12.23 27.15 524.31 254.99 116.17 73.99 67.21 9.87 73.72 13.48 8.88 24.14 54.03 142.97 4.61 18.52 6.62 33.35 10.13 43.63 15.86 60.69 18.74 87.18 10.35

–52-Week– High Low

10.02 5.81 28.02 45.21 18.51 18.88 30.26 196.88 30.02 354.62 108.61 84.23 90.43 11.01 17.20 9.88 20.65 426.16 47.12 81.09 10.01 13.38 14.23 675.00 529.91 44.31 15.42 22.99 5.28 25.24 23.75 14.74 32.25 54.90 53.46 20.32 12.25 72.00 71.30 33.38 212.23 12.50 167.24 230.80 6.15 2.89 14.76 27.31 130.95 16.35 108.10

Last

Div Chg. Amt.

5.88 2.10 23.97 28.35 10.50 12.79 19.45 105.52 15.30 159.56 85.25 52.60 64.81 9.86 7.75 9.62 16.37 278.15 27.45 56.48 9.63 7.18 7.00 533.77 391.16 27.84 8.81 16.98 0.52 16.25 15.06 8.68 16.80 22.27 35.08 9.00 3.27 53.65 53.45 17.56 145.72 5.34 103.99 165.48 3.55 1.34 7.82 16.05 69.61 7.18 60.43

GlblBusTravel GlobalCordBlood GlobalIndemnity GlobalIndl GlobalMedREIT GlobalNetLease GlobalPtnrs GlobalPayments GlobalShipLease Globant GlobeLife GlobusMedical GoDaddy GoGreenInvtsA GoldFields GoldenFalconA GoldmanSachsBDC GoldmanSachs Gorman-Rupp Graco GrafAcqnIV GrafTechIntl Graham GrahamHoldings Grainger GraniteConstr GranitePointMtg GraphicPkg GravitasEduc GrayTelevision GrayTelevision A GreatAjax GreenBrickPtrs GreenDot Greenbrier Greenhill GreenTree Greif A Greif B Griffon Group1Auto GroveCollab GpoAeroportuar GpoAeroportSur GpoAvalAcc GpoSupervielle GrupoTelevisa Guess Guidewire GuildHldgs GulfportEnergy

GBTG ... CO ... GBLI 3.9 GIC 2.1 GMRE 7.4 GNL 11.1 GLP 10.3 GPN .8 GSL 8.8 GLOB ... GL .8 GMED ... GDDY ... GOGN ... GFI 2.7 GFX ... GSBD10.3 GS 2.6 GRC 2.4 GGG 1.4 GFOR ... EAF .5 GHM 6.3 GHC 1.1 GWW 1.5 GVA 1.8 GPMT 9.9 GPK 1.5 GEHI ... GTN 1.9 GTN.A 2.1 AJX 10.3 GRBK ... GDOT ... GBX 2.9 GHL 3.9 GHG 13.3 GEF 2.9 GEF.B 4.3 GFF 1.4 GPI .8 GROV ... PAC 2.2 ASR 3.7 AVAL52.2 SUPV 2.1 TV ... GES 4.8 GWRE ... GHLD .0 GPOR ...

dd 5 45 12 57 dd 10 34 3 76 14 42 40 dd 11 39 10 6 25 24 cc 5 dd 8 20 22 14 25 3 26 24 8 4 25 17 11 13 11 7 12 5 dd 26 18 5 dd 21 7 dd 2 dd

6.40 3.33 25.75 34.01 11.39 14.42 23.07 118.86 17.05 197.22 99.16 57.85 70.97 10.05 9.54 9.84 17.41 302.75 28.74 60.82 9.73 7.72 7.00 563.69 460.95 29.24 10.11 20.50 .59 17.13 15.25 10.13 19.52 26.42 36.82 10.14 3.99 63.27 64.31 26.61 180.25 6.65 146.24 211.99 3.70 1.41 8.70 18.60 77.92 9.79 77.14

–0.39 ... –0.07 ... –0.53 .25 +2.60 .18 +0.45 .21 +1.11 .40 +2.30 .595 +8.61 .25 –1.30 .375 +19.50 ... +7.05.2075 +3.38 ... +5.00 ... +0.01 ... –0.39 .172 –0.01 ... +0.67 .45 +22.96 2.00 +1.05 .17 +3.74 .21 +0.02 ... +0.18 .01 –0.17 .11 +26.12 1.58 +18.86 1.72 +1.07 .13 +0.67 .25 +1.28 .075 –0.02 ... –0.88 .08 +0.19 .08 +0.90 .26 +1.87 ... +3.27 ... –0.10 .27 +0.74 .10 +0.38 .53 +5.33 .46 +5.93 .69 +0.27 .09 +13.86 .37 –3.35 ... +8.903.1501 +7.894.5984 –0.31.2855 +0.04.0151 +0.23 ... +0.57 .225 +4.96 ... –0.11 1.00 –12.47 ...

169.13 57.51 50.61 27.17 9.60 9.68 32.91 26.11 9.69 24.31 3.04 43.50 7.23 17.82 9.18 9.58 13.42 33.61 121.69 29.80 3.00 6.91 59.86 23.37 37.94 9.65 13.21 24.36 26.36 23.23 9.78 4.06 122.94 102.33 2.25 60.73 2.88 20.93 20.12 83.43 12.62 2.85 7.92 167.80 61.93 22.33 12.99 46.77 9.31 32.85 1.18 38.30 25.07 34.31 108.71 2.72 0.88 10.66 8.23 15.59 19.83 264.51 23.93 34.22 9.68 1.90 40.48 59.25 76.27 39.69 60.04 27.41 13.05 170.21 278.49

HCA Healthcare HCI Group HDFC Bank HF Sinclair HH&L Acqn H.I.G.AcqnA HNI HP HPX A HSBC HUYA Haemonetic Hagerty Halliburton HamiltonBeach Hanesbrands Hanger HannonArmstrong HanoverIns HarleyDavidson HarmonyGold Harsco HartfordFinl HavertyFurn HawaiianElec HawksAcqnA Hayward HealthcareRealty HealthcareAmer HealthpeakProp HeartlandMediaA HeclaMining Heico Heico A Heliogen HeliosTech HelixEnergy Helm&Payne Herbalife HercHoldings HerculesCapital HeritageInsurance HershaHospitality Hershey Hess HessMidstream HewlettPackard Hexcel HighlandTransI HighwoodsProp HillIntl Hillenbrand Hilltop HiltonGrandVac Hilton Hims&HersHealth Hippo HireRight Holley HollyEnergy HomeBancShares HomeDepot HondaMotor HoraceMannEdu HorizonII A HorizonGlobal HormelFoods DR Horton HoulihanLokey Hovnanian HowardHughes HowmetAerospace HuanengPower Hubbell HubSpot

HCA HCI HDB DINO HHLA HIGA HNI HPQ HPX HSBC HUYA HAE HGTY HAL HBB HBI HNGR HASI THG HOG HMY HSC HIG HVT HE HWKZ HAYW HR HTA PEAK HMA HL HEI HEI.A HLGN HLIO HLX HP HLF HRI HTGC HRTG HT HSY HES HESM HPE HXL HTPA HIW HIL HI HTH HGV HLT HIMS HIPO HRT HLLY HEP HOMB HD HMC HMN HZON HZN HRL DHI HLI HOV HHC HWM HNP HUBB HUBS

9 dd 21 13 34 41 27 6 31 12 18 77 dd 18 7 8 16 27 12 8 46 dd 9 5 18 dd 16 48 66 52 36 cc 54 44 dd 19 dd dd 6 11 16 dd dd 28 44 15 5 91 37 12 dd 16 8 18 45 dd dd cc dd 9 12 18 7 13 21 dd 27 5 13 2 29 45 dd 20 dd

182.33 65.81 57.81 43.49 9.80 9.90 36.03 35.23 9.98 33.03 4.36 65.26 11.30 30.95 12.73 10.72 15.03 37.94 148.00 32.80 3.28 7.50 65.69 25.61 40.54 9.74 15.44 26.86 27.76 26.10 9.91 4.30 132.00 106.34 3.34 66.33 3.07 43.94 23.07 89.77 13.75 3.01 10.06 220.96 101.69 28.09 14.06 51.65 9.86 34.49 1.63 42.16 26.97 37.73 116.71 4.58 .92 15.37 10.25 16.01 20.90 283.00 25.04 37.61 9.89 1.92 47.37 67.69 81.32 47.33 67.35 32.18 19.14 183.32 343.71

+9.23 .56 +3.73 .40 +4.33 .608 –1.51 .40 –0.03 ... ... ... +2.43 .32 +1.68 .25 +0.02 ... +2.06 .90 +0.18 ... +4.49 ... +0.21 ... –0.74 .12 +2.60 .105 +0.65 .15 +0.51 ... +2.64 .375 +10.49 .75 +2.01.1575 –0.08 .026 +0.14 ... +1.34 .385 +0.38 .28 +2.13 .35 +0.01 ... +1.64 ... –0.06 .31 –0.16 .325 +1.88 .30 –0.03 ... –0.05.0062 +2.40 .09 +1.79 .09 –0.27 ... +3.39 .09 –0.38 ... +5.08 .25 –0.21 ... +0.93 .575 +0.64 .15 –0.16 .06 +0.83 ... +14.93 .901 –1.18 .375 –0.33.5492 +0.64 .12 +2.49 .10 –0.01 ... +0.68 .50 +0.01 ... +3.42.2175 +0.68 .15 +0.21 ... +0.43 .15 +0.23 ... –0.03 ... +1.02 ... +0.13 ... +0.15 .35 +0.55 .165 +12.27 1.90 +0.69.4961 +2.15 .32 ... ... –0.06 ... +2.68 .26 +7.13 .225 +4.79 .53 +7.11 ... +5.48 ... +0.66 .02 +1.821.1071 +11.99 1.05 +50.97 ...

Name

Tick Sym Yld P/E

H 279.02 139.80 79.39 58.50 9.89 9.94 45.46 41.47 9.99 38.61 18.13 75.34 19.97 43.99 23.25 20.74 25.84 65.74 155.55 47.51 5.50 22.07 78.17 43.91 45.53 10.23 28.65 33.77 34.83 37.69 10.10 8.08 159.29 139.65 16.35 114.89 6.60 54.59 55.38 203.14 19.09 8.82 12.15 231.60 131.44 35.71 17.76 64.99 10.51 48.82 2.60 54.15 38.47 56.33 167.99 11.07 10.82 19.46 14.68 23.20 26.64 420.61 33.42 42.95 10.15 9.38 55.11 110.45 122.62 133.99 105.51 37.66 28.77 212.54 866.00

1.2 2.4 1.3 3.7 ... ... 3.6 2.8 ... 3.8 ... ... ... 1.6 3.3 5.6 ... 4.0 2.0 1.9 1.1 ... 2.3 4.4 3.5 ... ... 4.6 4.7 4.6 ... .3 .1 .2 ... .5 ... 2.3 ... 2.6 9.6 8.0 ... 1.6 1.5 7.8 3.4 .8 ... 5.8 ... 2.1 2.2 ... .5 ... ... ... ... 8.7 3.2 2.7 3.3 3.4 ... ... 2.2 1.3 2.6 ... ... .2 5.1 2.3 ...

BARRON’S

NEW YORK STOCK EXCHANGE COMPOSITE LIST

D ATA –52-Week– High Low

8.75 28.86 472.68 10.43 228.66 41.65 108.10 12.75 75.89

Last

Div Chg. Amt.

3.99 15.16 351.20 9.80 175.50 24.10 67.70 2.69 29.95

HudbayMinerals HudsonPacProp Humana HuntCosI A HuntingIngalls Huntsman HyattHotels Hyliion HysterYaleMatls

HBM HPP HUM HTAQ HII HUN H HYLN HY

.4 6.2 .7 ... 2.2 3.0 ... ... 3.8

dd dd 19 18 16 5 cc dd dd

4.27 16.06 456.81 10.05 215.34 28.55 76.31 3.85 33.91

–0.48.0079 –0.14 .25 +28.37.7875 +0.01 ... +14.70 1.18 +0.25.2125 +0.40 ... +0.19 ... +0.38.3225

31.32 16.36 6.43 95.26 21.68 9.21 8.97 1.82 15.68 9.64 194.67 3.32 64.08 1.79 9.60 9.83 172.19 1.10 177.33 13.60 2.42 16.50 9.80 36.98 9.72 9.83 16.20 17.52 40.40 56.31 81.25 107.52 1.83 9.69 83.94 142.74 69.44 31.27 15.68 66.36 9.80 9.80 90.05 51.28 17.67 114.56 105.38 17.27 40.42 13.05 9.52 9.65 26.43 27.43 0.80 1.10 9.63 2.08 33.15 4.16 41.67 2.03 2.20 13.51 2.64 3.60

IAA ICICI Bank ICL Group IDACORP IDT IHS Holding ING Groep INNOVATE Invesco IonAcqn3 IQVIA IRSA ITT IamGold IberePharmA IconicSportsA IDEX iHuman IllinoisToolWks Imax IndependenceContr IndepRealty IndlHumanCap IndustrsBachoco InfiniteAcqnA InFinTAcqnA Informatica Infosys IngersollRand Ingevity Ingredion InnovativeIndProp Innovid InsightAcqnA Insperity InspireMedical InstalledBldg InsteelInds Instructure IntegerHoldings IntegratedRailA IntegratedWellA ICE InterContinentl IntercorpFinSvcs IBM IntlFlavors IntlGameTech IntlPaper IntlSeaways InterPrivateII A InterPrivateII A Interpublic IntrepidPotash Invacare InvenTrust InvescoMtg Invitae InvitatHomes IonQ IronMountain IronNet ironSource iStar ItauCorpBanca ItauUnibanco

IAA IBN ICL IDA IDT IHS ING VATE IVZ IACC IQV IRS ITT IAG IBER ICNC IEX IH ITW IMAX ICD IRT AXH IBA NFNT IFIN INFA INFY IR NGVT INGR IIPR CTV INAQ NSP INSP IBP IIIN INST ITGR IRRX WEL ICE IHG IFS IBM IFF IGT IP INSW IPVA IPVF IPG IPI IVC IVT IVR NVTA INVH IONQ IRM IRNT IS STAR ITCB ITUB

... .3 1.6 2.9 ... ... 8.1 ... 4.3 ... ... ... 1.5 ... ... ... 1.3 ... 2.6 ... ... 2.7 ... 2.1 ... ... ... 1.3 .2 ... 2.9 5.9 ... ... 2.1 ... 1.5 .4 ... ... ... ... 1.6 1.6 7.5 4.6 2.6 3.8 4.3 2.4 ... ... 4.1 ... ... 3.1 2.7 ... 2.5 ... 5.0 ... ... 3.6 3.8 3.0

16 19 10 21 14 ... ... dd 6 dd 39 dd 20 dd 30 20 30 dd 22 dd dd 30 dd 9 ... ... dd 27 19 20 12 25 dd 67 29 dd 18 6 dd 29 96 ... 14 38 6 23 56 9 9 dd dd dd 11 2 dd cc dd dd 90 dd 32 dd 41 48 4 8

35.61 18.37 9.49 104.17 25.10 11.00 10.36 2.07 17.36 9.74 213.80 3.56 69.56 1.88 9.79 9.99 185.56 2.36 187.92 16.33 3.20 20.78 10.03 44.25 9.93 10.10 21.91 18.67 43.33 64.04 88.40 119.33 1.97 9.81 97.78 198.29 82.85 33.97 22.42 72.41 9.97 9.97 97.91 55.20 23.25 142.06 121.41 21.24 42.84 20.33 9.77 9.77 27.98 47.61 1.46 26.29 13.41 3.07 35.51 5.11 49.46 2.76 2.57 14.05 2.89 4.39

+1.88 ... +0.96.0547 –0.30.2383 +6.03 .75 +2.27 ... +0.84 ... +0.24.2452 +0.20 ... +1.24.1875 –0.01 ... +16.85 ... +0.23 ... +5.23 .264 –0.11 ... –0.02 ... +0.01 ... +12.50 .60 –0.08 ... +9.67 1.22 +1.36 ... ... ... +0.20 .14 +0.01 ... +4.55.4887 +0.04 ... +0.06 ... +3.31 ... +0.91.2104 +2.09 .02 +2.64 ... +3.78 .65 +10.99 1.75 –0.11 ... –0.02 ... +8.23 .52 +31.90 ... +3.78 .315 –0.37 .03 +1.20 ... +4.67 ... +0.02 ... –0.02 ... +7.58 .38 +2.32 .859 –1.83 .65 +7.04 1.65 +13.10 .79 +2.57 .20 +0.49.5125 –0.67 .12 –0.03 ... –0.01 ... +0.93 .29 –5.21 ... +0.09 ... –0.83.2052 +2.51 .90 +0.84 ... +1.75 .22 +0.07 ... +3.24.6185 +0.22 ... +0.31 ... +0.25 .125 –0.31 .165 –0.10.0029

9.70 22.78 12.12 12.47 111.48 51.90 9.70 22.29 114.11 20.14 22.85 7.95 9.64 25.88 0.73 35.41 3.61 98.57 155.72 46.33 154.63 4.47 9.72 26.12 0.37

JattAcqnA JBG SMITH Prop JELD-WEN J.Jill JPMorganChase Jabil JacksonAcqnA JacksonFinl JacobsEngg JamesHardie JanusHenderson JanusIntl JawsMustangA JefferiesFin JianpuTech JinkoSolar JobyAviation JohnBeanTech J&J JohnsonControls JonesLang JumiaTech JuniperII A JuniperNetworks JupaiHoldings

JATT JBGS JELD JILL JPM JBL RJAC JXN J JHX JHG JBI JWSM JEF JT JKS JOBY JBT JNJ JCI JLL JMIA JUN JNPR JP

... 3.6 ... ... 3.4 .6 ... 8.0 .7 2.2 6.1 ... ... 4.3 ... ... ... .3 2.5 2.9 ... ... ... 2.9 ...

25 dd 10 cc 9 9 ... 1 44 22 8 26 65 5 dd 70 dd 32 25 28 9 dd ... 28 dd

9.92 24.83 15.09 18.83 117.32 54.68 9.84 27.60 125.42 22.73 25.62 8.93 9.83 27.83 1.77 61.57 5.20 115.53 182.29 48.95 175.46 7.09 9.93 29.15 .38

... ... +1.02 .225 +1.94 ... +0.96 ... +4.29 1.00 +1.07 .08 –0.02 ... –1.13 .55 +6.73 .23 +2.23 .30 +2.10 .39 –0.54 ... +0.03 ... +1.38 .30 –0.01 ... +5.50 ... +0.21 ... +8.61 .10 +12.83 1.13 +1.72 .35 +8.44 ... +0.89 ... +0.01 ... +1.52 .21 –0.01 ...

11.76 36.79 24.78 36.71 7.31 9.65 44.28 16.47 2.94 12.33 167.40 2.13 30.46 59.54 43.69 21.62 18.34 30.40 9.95 9.71

KAR Auction KB Fin KB Home KBR KE Holdings KKRAcqnI A KKR KKR RealEstFin KoreGroup KT Kadant Kaleyra Kaman Kellogg Kemper Kennametal KennedyWilson KenonHoldings KensingtonCapAcqnV KensingtonCapV A

KAR KB KBH KBR BEKE KAHC KKR KREF KORE KT KAI KLR KAMN K KMPR KMT KW KEN KCGI.UT KCGI

... 6.0 2.1 1.0 ... ... 1.3 9.7 ... 4.4 .6 ... 2.5 3.3 2.6 3.4 4.7 ... ... ...

dd 4 4 dd dd 61 11 8 dd 5 20 dd 22 16 dd 14 8 2 ... cc

15.82 38.65 29.20 48.14 18.82 9.78 48.57 17.77 3.72 14.39 183.94 2.47 31.43 70.72 48.52 23.57 20.24 43.70 10.07 9.89

+1.30 ... –1.86.6391 +3.64 .15 +3.77 .12 +2.94 ... ... ... +3.39 .155 +0.41 .43 +0.36 ... +0.55.5639 +8.90 .26 +0.09 ... –0.75 .20 +3.18 .58 +4.26 .31 +0.16 .20 +1.54 .24 –8.07 ... +0.02 ... –0.01 ...

Name

Tick Sym Yld P/E

–52-Week– High Low

NYSE Cumulative Daily Breadth vs DJIA Hard Won: NYSE Composite breadth rose for the first time in five weeks, as the S&P 500 rose 6.4% in its best week since May 2020. Winning stocks on the NYSE outpaced losers by nearly 5 to 1.

I 63.49 22.34 12.96 118.92 67.30 18.48 15.97 4.83 27.70 9.91 285.61 5.77 105.54 3.77 9.84 10.08 240.33 11.50 249.81 23.26 7.40 28.42 10.04 48.11 10.07 10.10 40.13 26.39 62.64 88.58 101.89 288.02 10.00 10.00 129.32 286.29 141.43 47.70 29.59 101.61 10.00 10.06 139.79 73.40 37.64 144.73 157.08 32.95 59.37 24.99 10.00 9.97 39.98 121.72 8.83 32.93 41.70 35.51 45.80 35.90 58.61 47.50 13.14 27.75 4.51 5.89

J 10.05 34.02 29.89 24.50 172.96 72.11 9.99 47.76 150.32 41.85 48.55 15.94 9.90 44.47 2.88 68.85 14.33 177.56 186.69 81.77 275.77 32.39 10.12 38.14 1.79

K 22.10 55.31 50.20 56.94 52.55 9.90 83.90 23.40 11.15 15.30 240.47 14.23 53.71 75.56 75.16 41.22 25.30 72.90 10.97 10.38

June 27, 2022

Breadth

DJIA

609,000

36,500

Breadth 580,315

602,200

35,100

595,400

33,700

588,600

32,300

581,800

30,900

575,000

29,500 J

In generating this chart, we subtract each day's NYSE composite declines from that day's advances. The resultant total is added to the next day's total, and so on. When all five days' numbers are added together, this produces the weekly figure we plot. Dec. 31, 1985 =1000.

–52-Week– High Low

27.17 209.08 79.06 10.76 145.79 26.57 20.20 5.80 11.27 7.13 245.17 75.08 23.35 62.29 10.88 20.34 23.81 64.38 50.71 61.25 37.44 11.14 84.68 8.49 62.78 19.78 7.15 40.00

Last

Div Chg. Amt.

16.69 127.93 49.17 9.94 117.32 18.52 15.01 4.70 9.77 3.83 157.81 47.58 16.97 42.50 9.84 12.34 16.80 34.64 20.20 30.98 21.76 8.17 51.08 1.80 37.26 12.06 1.75 9.10

KeyCorp KeysightTechs KilroyRealty KimbellTigerA KimberlyClark KimcoRealty KinderMorgan KingswayFin KingswoodA KinrossGold KinsaleCapital Kirby KiteRealty Knight-Swift KnightSwanA KnotOffshore Knowles Kohl's KoninklijkePhil KontoorBrands Koppers KoreaElcPwr KornFerry KosmosEnergy Kroger KronosWorldwide KukeMusic Kyndryl

KEY 4.4 KEYS ... KRC 3.8 TGR ... KMB 3.5 KIM 4.0 KMI 6.7 KFS ... KWAC ... KGC 3.0 KNSL .2 KEX ... KRG 4.2 KNX 1.0 KNSW ... KNOP12.5 KN ... KSS 5.1 PHG 4.2 KTB 5.5 KOP .8 KEP 5.0 KFY 1.0 KOS ... KR 2.1 KRO 4.0 KUKE ... KD ...

7 25 35 dd 26 12 36 dd 34 dd 35 dd dd 10 ... ... 10 6 5 9 7 dd 10 cc 17 14 dd dd

17.83 140.48 54.24 10.06 134.46 20.14 16.48 5.35 10.32 4.00 228.21 60.44 18.42 47.07 9.99 16.65 17.32 39.25 21.69 33.75 23.68 8.78 57.25 6.25 48.45 18.86 1.94 10.13

+0.57 .195 +6.68 ... +2.56 .52 +0.03 ... +12.67 1.16 +1.20 .20 +0.43.2775 ... ... ... ... –0.10 .03 +21.15 .13 +3.55 ... +1.09 .21 +2.82 .12 +0.08 ... +0.62 .52 +0.11 ... –1.00 .50 +0.87.9641 +1.52 .46 +1.68 .05 +0.02.4875 +5.41 .15 –0.32 ... +2.25 .26 +0.91 .19 –0.17 ... +0.76 ...

96.32 5.73 9.53 3.59 31.36 200.71 9.98 22.21 212.40 9.43 49.71 0.45 36.25 28.88 30.72 118.38 9.61 33.19 81.07 2.80 15.99 11.63 62.54 52.67 182.85 9.61 15.76 5.90 8.50 100.66 10.53 0.87 2.76 15.03 220.20 45.25 267.51 116.77 4.33 8.90 8.41 252.56 12.56 74.23 9.55 9.66 9.56 16.75 22.32 2.00 1.41 2.88 324.23 51.35 5.02 9.68 49.98 170.12

LCI Inds LG Display LL Flooring LSB Inds LTC Properties L3HarrisTech LXP Industrial La-Z-Boy LabCorp.ofAmerica LadderCapital LambWeston Lannett LaredoPetrol LasVegasSands Lazard Lear LearnCWInvtA Leggett&Platt Leidos LejuHoldings Lemonade LendingClub Lennar A Lennar B LennoxIntl LeoHldgsII A LeviStrauss Li-Cycle LibertyEnergy LifeStorage LifeTime LightInTheBox Lightng eMotors Lightspeed EliLilly LincolnNational Linde Lindsay LionElectric LionsGate A LionsGate B LithiaMotors LithiumAmericas LiveNationEnt LiveOakCrestA LiveOakCrestview LiveOakMobilityA Livent LiveRamp LloydsBanking loanDepot LocalBounti LockheedMartin Loews LomaNegra LongviewII A LouisianaPacific Lowe's

LCII 3.7 LPL 3.3 LL ... LXU ... LTC 5.9 LHX 1.9 LXP 4.4 LZB 2.6 LH 1.2 LADR 8.0 LW 1.4 LCI ... LPI ... LVS ... LAZ 5.5 LEA 2.1 LCW ... LEG 4.8 LDOS 1.4 LEJU ... LMND ... LC ... LEN 2.1 LEN.B 2.5 LII 2.1 LHC ... LEVI 2.1 LICY ... LBRT ... LSI 3.5 LTH ... LITB ... ZEV ... LSPD ... LLY 1.2 LNC 3.7 LIN 1.5 LNN 1.1 LEV ... LGF.A ... LGF.B ... LAD .6 LAC ... LYV ... LOCC ... LOCC.UT ... LOKM ... LTHM ... RAMP ... LYG 4.8 LDI 21.6 LOCL ... LMT 2.7 L .4 LOMA 5.0 LGV ... LPX 1.7 LOW 2.3

7 5 9 dd 27 25 9 7 11 18 45 dd 13 dd 7 37 22 12 20 dd dd 13 5 4 16 84 12 dd dd 33 dd 10 dd dd 48 7 39 30 dd dd dd 7 dd dd dd ... 36 89 dd 5 6 dd 19 9 9 36 3 15

114.31 5.95 10.34 13.44 38.91 233.55 10.99 25.16 242.56 11.06 71.91 .58 72.12 33.43 34.00 134.21 9.85 36.55 101.57 3.50 19.94 13.07 71.93 59.95 203.64 9.84 17.31 7.37 12.30 112.80 14.45 1.16 3.62 25.47 325.62 48.98 303.23 123.75 4.73 10.02 9.65 289.91 21.82 86.80 9.62 9.72 9.78 24.25 30.51 2.13 1.48 3.43 419.04 59.77 5.11 9.78 52.57 182.84

+9.78 1.05 –0.16.2739 +0.52 ... –2.90 ... +1.73 .19 +11.98 1.12 +0.70 .12 +1.97 .165 +16.34 .72 +1.07 .22 +6.45 .245 –0.02 ... –9.35 ... +1.76 ... +2.94 .47 +12.21 .77 +0.02 ... +2.04 .44 +7.42 .36 +0.07 ... +2.46 ... +0.89 ... +7.30 .375 +6.16 .375 +17.19 1.06 +0.01 ... +0.76 .10 –0.40 ... –1.06 ... +7.57 1.00 +0.61 ... +0.02 ... +0.68 ... +4.28 ... +34.72 .98 +1.19 .45 +12.55 1.17 +4.42 .33 +0.19 ... +0.67 ... +0.73 ... +19.80 .42 +1.69 ... +2.10 ... +0.02 ... +0.01 ... ... ... +1.04 ... +4.01 ... +0.08.0659 –0.04 .08 –0.16 ... +15.03 2.80 +2.23.0625 ....3895 +0.01 ... –1.60 .22 +10.37 1.05

Name

Tick Sym Yld P/E

L 163.33 10.96 22.07 27.45 40.33 279.71 16.11 39.99 317.17 12.70 81.42 5.05 120.86 53.57 53.00 195.43 10.18 52.44 111.12 20.50 115.85 49.21 117.54 96.42 354.62 9.87 30.09 14.28 20.05 154.45 23.37 2.12 12.13 130.02 325.82 77.57 352.18 179.27 20.05 21.42 18.77 387.63 41.56 127.75 10.00 10.30 9.87 34.61 58.74 3.00 13.20 12.87 479.99 68.20 8.26 10.00 79.77 263.31

–52-Week– High Low

Name

12.39 4.09 LufaxHolding 14.50 9.31 LumenTech 4.48 2.25 LumentFinance 23.71 14.40 Luxfer 117.22 83.50 LyondellBasell

Tick Sym Yld P/E

LU LUMN LFT LXFR LYB

Last

5.0 6 6.34 8.9 5 11.27 9.3 11 2.58 3.4 18 15.16 5.3 5 89.24

Div Chg. Amt.

–0.07 .32 +0.88 .25 +0.20 .06 +0.31 .13 –0.49 5.20

M 186.95 17.90 56.53 9.93 33.34 19.52 16.85 51.17 69.22 21.47 21.12 35.49 60.19 13.45 167.55 679.85 92.04 10.39 10.05 15.14 32.29 22.88 40.85 37.95 87.71 203.37 53.75 95.67 24.36 30.31 10.17 47.13 20.86 27.37 12.91 123.84 22.19 33.24 114.35 58.33 22.52 17.87 61.06 1519.25 11.00 174.74 183.14 446.46 71.06 9.85 128.87 109.43 399.92 67.78 96.00 125.34 12.36 42.59 92.69 20.99 107.35 107.02 271.15 1.51 339.94 47.00 24.13 295.38 35.67 135.89 14.87 94.92 66.07 29.00 125.01 36.30 28.00 37.36 33.25 10.15 50.20

128.46 10.30 27.83 9.61 24.92 9.72 11.38 26.41 34.33 5.07 1.41 26.01 28.85 6.38 112.89 376.41 72.30 9.27 9.65 5.56 9.06 8.69 3.53 15.68 50.23 145.41 43.58 53.96 14.66 12.79 9.56 34.35 10.51 9.97 7.25 74.13 16.27 10.41 50.19 34.13 13.41 8.32 35.60 1167.50 1.93 110.08 137.85 295.56 46.27 9.49 69.41 67.31 303.65 24.76 66.92 62.34 9.24 22.92 56.50 7.01 77.85 77.05 217.68 0.46 186.61 8.49 14.10 154.67 17.17 86.95 5.96 70.89 43.33 13.81 62.51 20.50 5.20 20.02 1.14 9.57 36.26

M&T Bank MBIA MDC Holdings MDH Acqn A MDU Rscs MFA Financial MGIC Investment MGM Resorts MI Homes MinisoGroup MOGU MPLX MP Materials MRC Global MSA Safety MSCI MSC Industrial M3-Brigade II A M3-BrigadeIII A MV Oil Mytheresa Macerich MacquarieInfr Macy's MSG Entertainment MSG Sports MagellanMid MagnaIntl Magnachip MagnoliaOil MagnumOpusA MainStreetCap ManchesterUnited Manitowoc Manning&Napier Manpower ManulifeFin MarathonOil MarathonPetrol Marcus&Millichap Marcus MarineProducts MarineMax Markel Markforged MarriottVacations Marsh&McLen MartinMarietta Masco MasonIndlTechA MasoniteIntl MasTec Mastercard MatadorRscs Materion Matson MauiLand MaxarTech Maximus MayvilleEngg McCormick McCormickVtg McDonalds McEwenMining McKesson MediaAlpha MedicalProp Medifast Mednax Medtronic MemberCollect Merck MercuryGeneral MeridianLink MeritageHomes Meritor MesaRoyalty MesabiTrust MetaData MetalsAcqn MethodeElec

MTB 2.9 MBI ... MDC 6.4 MDH ... MDU 3.1 MFA 15.1 MTG 2.5 MGM .0 MHO ... MNSO ... MOGU ... MPLX 9.8 MP ... MRC ... MSA 1.5 MSCI 1.0 MSM 4.0 MBAC ... MBSC ... MVO 14.2 MYTE ... MAC 6.4 MIC ... M 3.0 MSGE ... MSGS ... MMP 8.7 MGA 3.1 MX ... MGY 1.3 OPA ... MAIN 6.7 MANU 1.6 MTW ... MN 1.6 MAN 3.5 MFC 5.2 MRO 1.2 MPC 2.7 MMI 1.3 MCS ... MPX 5.2 HZO ... MKL ... MKFG ... VAC 2.1 MMC 1.3 MLM .8 MAS 2.2 MIT ... DOOR ... MTZ ... MA .6 MTDR .4 MTRN .7 MATX 1.7 MLP ... MAXR .1 MMS 1.8 MEC ... MKC 1.7 MKC.V 1.7 MCD 2.2 MUX ... MCK .6 MAX ... MPW 7.5 MED 3.5 MD ... MDT 3.0 MCG ... MRK ... MCY 5.8 MLNK ... MTH ... MTOR ... MTR 6.7 MSB 18.0 AIU ... MTAL ... MEI 1.5

13 dd 4 61 16 dd 7 10 3 32 dd 10 34 dd cc 47 14 25 dd 8 dd dd dd 4 dd 51 11 14 10 7 62 8 dd 22 13 11 5 8 19 9 dd 11 5 10 10 40 25 29 23 83 16 24 34 8 22 3 dd 17 16 dd 32 32 26 dd 45 dd 8 14 20 24 dd 17 dd dd 3 12 15 4 ... 65 12

166.64 13.78 31.45 9.83 27.82 11.62 12.75 30.24 40.01 8.77 2.02 28.86 35.72 9.54 120.25 432.06 75.57 9.80 9.99 10.55 11.07 9.44 3.84 20.96 53.40 153.96 47.52 57.87 15.06 21.21 9.78 38.43 11.57 10.64 12.53 78.71 17.01 22.05 85.68 37.42 14.71 9.16 38.43 1292.86 2.38 119.29 158.83 309.68 51.80 9.78 75.66 73.57 330.50 47.01 73.21 72.52 9.60 27.61 63.40 7.71 87.84 87.45 247.90 .50 321.55 10.21 15.48 189.88 20.97 90.22 7.53 93.13 44.12 18.52 73.81 36.16 11.16 23.84 1.70 9.81 38.03

+4.30 1.20 +1.82 ... +3.19 .50 +0.04 ... +1.79.2175 +1.09 .44 +1.00 .08 +2.29.0025 +4.12 ... +1.10 ... +0.08 ... +0.59 .705 +2.76 ... +0.17 ... +5.49 .46 +45.35 1.04 +2.66 .75 +0.02 ... +0.01 ... +1.23 .425 +0.69 ... +0.40 .15 +0.04 ... +1.09.1575 –1.86 ... +3.19 ... +0.251.0375 +3.00 .45 –1.74 ... –2.56 .20 ... ... +2.80 .215 +0.12 .09 ... ... +0.26 .05 +2.76 1.36 +0.52.2567 –2.10 .08 –1.61 .58 +1.62 .25 +0.43 ... +0.77 .12 +1.34 ... +10.66 ... +0.18 ... +1.58 .62 +14.39 .535 +6.12 .61 +4.18 .28 +0.02 ... +4.01 ... +4.17 ... +19.81 .49 –4.19 .05 +3.82 .125 –0.08 .31 –0.06 ... +2.43 .01 +4.12 .28 +0.21 ... +5.30 .37 +4.61 .37 +13.52 1.38 ... ... +20.98 .47 +0.76 ... +1.12 .29 +12.71 1.64 +1.89 ... +2.00 .68 +0.40 ... +8.51 ... +0.39 .635 +2.63 ... +8.02 ... +0.22 ... –3.80.1497 –1.30 1.04 +0.10 ... –0.04 ... +0.34 .14

73.18 115.78 1714.75 7.59 231.63 40.46 81.86 11.95 9.87 24.49 11.38 6.78 16.79 3.04 39.99 17.81 89.99 77.49 211.75 350.19 70.00 57.45 11.34 80.42 407.94 90.01 90.13 109.73 79.28 10.40 273.65 48.66 63.07 17.37 9.69 45.79 262.58 9.95 25.55 27.43

B A R R O N S .C O M / D ATA Last

Div Chg. Amt.

55.21 55.95 1082.78 3.47 158.85 22.45 57.52 5.66 9.60 10.35 5.06 5.15 8.11 2.15 20.95 7.67 14.45 37.16 114.96 243.32 51.21 42.46 1.17 28.36 251.01 67.77 68.48 72.23 28.26 9.75 195.18 27.83 39.00 10.88 3.25 18.44 130.91 9.60 15.82 7.67

MetLife MetropolitanBk MettlerToledo MicroFocus MidAmApt MillerIndustries MineralsTechs MirionTech MissionAdvA MisterCarWash MistrasGroup MitsubishiUFJ MiXTelematics MizuhoFin ModelN ModineMfg Modiv Moelis MohawkInds MolinaHealthcare MolsonCoorsA MolsonCoorsB MoneyLion MontroseEnvl Moody's Moog A Moog B MorganStanley Mosaic MotiveCapII A MotorolaSol Movado MuellerIndustries MuellerWater MultiPlan MurphyOil MurphyUSA MusicAcqnA MyersIndustries MyovantSciences

MET MCB MTD MFGP MAA MLR MTX MIR MACC MCW MG MUFG MIXT MFG MODN MOD MDV MC MHK MOH TAP.A TAP ML MEG MCO MOG.A MOG.B MS MOS MTVC MSI MOV MLI MWA MPLN MUR MUSA TMAC MYE MYOV

3.1 ... ... 6.8 2.9 3.1 .3 ... ... ... ... 3.4 2.3 4.4 ... ... 6.4 6.0 ... ... 2.7 2.7 ... ... 1.0 1.3 1.3 3.6 1.3 ... 1.5 4.3 1.9 1.9 ... 2.2 .5 ... 2.4 ...

8 11 34 dd 34 17 12 dd 24 dd 50 7 21 6 dd 7 dd 8 8 23 11 11 dd dd 26 17 18 10 7 ... 30 8 5 25 37 51 12 47 19 dd

64.22 72.35 1146.90 3.68 172.53 22.89 61.02 6.37 9.81 12.28 6.31 5.54 8.61 2.27 25.44 11.11 18.00 39.89 127.95 267.13 56.00 55.77 1.64 34.91 277.50 78.73 80.00 77.82 46.61 9.91 217.33 32.73 53.38 11.92 5.85 31.95 235.06 9.83 22.63 13.26

+3.35 .50 +2.27 ... +49.10 ... –0.56 .203 +9.99 1.25 –0.54 .18 +3.09 .05 –0.59 ... +0.05 ... +1.35 ... +0.30 ... +0.15.1115 +0.33.0498 +0.07.0611 +1.77 ... +0.56 ... +1.34.0958 +1.25 .60 +8.02 ... +15.38 ... +1.61 .38 +5.40 .38 +0.08 ... +4.39 ... +21.63 .70 +3.84 .26 ... .26 +4.92 .70 –3.99 .15 +0.01 ... +14.49 .79 +0.31 .35 +2.52 .25 +0.84 .058 +0.42 ... –1.69 .175 +15.11 .31 +0.04 ... +0.62 .135 +1.68 ...

23.30 8.12 28.00 1.38 11.67 5.21 11.46 6.83 34.70 3576.01 65.58 34.11 49.16 59.53 50.22 59.99 39.12 45.13 5.21 8.91 9.88 19.49 7.47 4.99 1.85 7.84 2.04 31.41 72.00 7.95 1.59 18.50 39.41 34.41 8.40 41.66 8.18 5.03 8.50 27.85 285.60 52.60 1.92 6.08 3.42 17.96 53.61 2.47 67.22 3.06 68.07 16.02 103.46 0.79 23.65 15.06 20.34 4.51 17.30 5.56 3.56 1.40 18.65 219.31 10.72 6.42 9.51 14.03 9.38 9.65 9.64 344.89 43.07 10.31 4.69 79.09 82.11 3.26 39.40 87.71 8.56 12.84 57.08 3.25 28.27 19.78

NACCO Inds N-able NCR NGL Energy NIO NL Industries NOV NOW NRG Energy NVR NaborsIndustries NatlBankHoldings NationalFuelGas NationalGrid NatlHealthInv NatlPrestoInds NatlRetailProp NatlStorage Natura&Co NaturalGasSvcs NaturalGrocers NaturalResPtrs Natuzzi NatWest Nautilus NavigatorHldgs NaviosMaritime Neenah Nelnet NeoPhotonics NerdyA Netstreit Nevro NewJerseyRscs NewOrientalEduc NewRelic NewResidInvt NewYorkCityReit NY CmntyBcp NYTimes A NewMarket Newmont NewparkResources NexaResources NexGenEnergy NexPointRealEst NexPointResidentl Nextdoor NextEraEnergy NexTierOilfield NicoletBankshares NielsenHoldings Nike NineEnergy NiSource NoahHoldings Noble Nokia NomadFoods NomadRoyalty NomuraHoldings NordicAmTankers Nordstrom NorfolkSouthern NorthAmConstr NoEuroOil NorthernGenIII NorthernOil&Gas NorthernStrII A NorthernStrIII A NorthernStrIV A NorthropGrum NorthwestNat NorwegCruise NouveauMonde Novartis NovoNordisk NuHoldings NuSkinEnts Nucor NuScalePower NuSTAREnergy Nutrien NuvationBio nVentElectric OFGBancorp

NC 2.2 NABL ... NCR ... NGL ... NIO ... NL ... NOV 1.2 DNOW ... NRG 3.7 NVR ... NBR ... NBHC 2.4 NFG 2.9 NGG 4.9 NHI 5.8 NPK 1.5 NNN 4.9 NSA 4.3 NTCO .9 NGS ... NGVC 2.4 NRP 7.9 NTZ ... NWG ... NLS ... NVGS ... NM ... NP 5.7 NNI 1.1 NPTN ... NRDY ... NTST 4.2 NVRO ... NJR 3.3 EDU ... NEWR ... NRZ 10.2 NYC 7.4 NYCB 7.5 NYT 1.2 NEU 2.8 NEM 3.4 NR ... NEXA 5.0 NXE ... NREF 9.9 NXRT 2.5 KIND ... NEE 2.2 NEX ... NIC ... NLSN 1.0 NKE 1.1 NINE ... NI 3.3 NOAH ... NE ... NOK ... NOMD ... NSR 2.1 NMR 4.2 NAT 2.3 JWN 3.1 NSC 2.0 NOA 2.3 NRT 7.0 NGC ... NOG 2.9 NSTB ... NSTC ... NSTD ... NOC 1.5 NWN 3.7 NCLH ... NMG ... NVS 2.5 NVO 1.0 NU ... NUS 3.4 NUE 1.8 SMR ... NS 11.9 NTR 2.4 NUVB ... NVT 2.2 OFG 2.3

5 cc cc dd dd 8 dd 23 2 11 dd 14 13 15 33 24 26 51 42 dd 14 5 dd 7 dd dd 0 dd 7 dd dd cc dd 45 ... dd 4 dd 8 27 18 49 dd 6 dd 6 63 dd cc dd 14 15 30 dd 19 8 24 15 16 cc 9 dd 11 19 10 14 39 dd 34 60 65 13 22 dd dd 8 33 dd 17 4 dd dd 10 dd 20 9

37.77 9.28 33.10 1.59 24.08 9.51 16.23 9.37 38.32 4049.72 134.28 38.65 65.98 65.28 61.65 65.63 43.65 50.58 5.77 11.90 16.67 38.18 8.37 5.57 2.11 10.93 2.24 33.48 86.16 15.64 2.73 18.99 49.21 43.71 19.85 54.08 9.82 5.43 9.12 29.66 300.90 64.18 3.05 6.69 3.86 20.26 60.86 3.53 78.02 9.09 74.25 23.53 112.91 2.62 28.62 20.55 26.58 4.81 19.83 7.44 3.75 2.14 24.29 230.43 10.86 13.10 9.78 26.08 9.81 9.79 9.81 463.70 52.39 13.22 4.83 84.83 112.12 4.06 45.78 111.06 10.26 13.45 80.19 4.19 31.67 26.64

–5.37.2075 –1.38 ... +2.09 ... +0.05 ... +3.31 ... +0.52 ... –0.24 .05 –0.12 ... +1.99 .35 +349.80 ... +1.43 ... +0.71 .23 +0.54 .475 +1.882.0929 +0.89 .90 +3.45 3.50 +2.50 .53 +4.62 .55 +0.10.0492 –0.93 ... +1.03 .10 –0.54 .75 –0.13 ... +0.18 ... +0.05 ... –0.20 ... –0.31 ... +0.56 .475 +9.44 .24 +0.18 ... –0.61 ... –0.11 .20 +7.04 ... +2.38.3625 –1.72 ... +8.03 ... +1.17 .25 –0.51 .10 +0.47 .17 –0.04 .09 +11.61 2.10 +0.42 .55 –0.47 ... +0.04.3775 +0.26 ... –0.04 .50 +1.71 .38 +0.38 ... +7.21 .425 –0.14 ... +0.39 ... +1.12 .06 +5.57 .305 –0.14 ... +1.96 .235 +4.29 ... –4.86 ... +0.22 ... +0.54 ... –0.17 .039 +0.12.1081 +0.25 .02 –0.16 .19 +8.96 1.24 –0.11.0324 –0.49 .38 +0.03 ... –1.44 .19 ... ... ... ... +0.03 ... +19.77 1.73 +0.70.4825 +1.79 ... –0.17 ... +3.772.1823 +6.54.7413 +0.59 ... +1.66 .385 –2.93 .50 –0.06 ... +0.15 .40 –2.85 .48 +0.70 ... +0.86 .175 +0.52 .15

Name

Tick Sym Yld P/E

NO 63.19 16.00 48.94 2.91 55.13 10.01 24.06 12.55 47.82 5982.45 207.67 48.24 75.97 80.20 69.23 103.69 49.99 70.04 23.73 15.00 24.25 50.82 21.00 7.00 17.50 15.21 9.59 56.86 99.79 16.14 13.49 26.93 181.28 47.50 86.20 129.70 11.81 14.25 14.33 56.19 378.63 86.37 4.81 12.86 6.56 25.98 95.04 18.59 93.73 12.50 98.20 27.79 179.10 8.10 32.59 49.88 38.59 6.40 28.92 8.61 5.28 3.48 38.48 299.20 17.79 20.72 10.00 39.10 10.14 9.88 10.00 492.30 57.63 31.19 9.57 95.17 122.16 12.24 58.97 187.90 11.23 18.95 117.25 10.45 39.53 30.93

–52-Week– High Low

42.74 17.94 92.26 75.07 41.33 65.22 74.04 52.00 18.20 41.92 20.97 37.20 9.02 27.19 67.25 49.00 37.96 91.61 55.87 36.60 12.21 63.19 10.89 106.09 24.28 54.98 11.40 106.34 12.71 5.47 39.48 20.99 6.10 32.25 112.91 88.52 23.26 126.39 10.00 18.60 14.57 92.84 13.32 29.36 3.04 63.30 49.11 101.12 15.33 11.43 110.37

Last

Div Chg. Amt.

32.49 10.64 62.52 48.51 8.54 13.29 21.62 8.35 8.56 17.76 2.84 22.80 4.42 20.93 39.90 8.11 24.81 61.67 16.38 24.33 0.99 34.22 0.74 62.15 10.82 30.86 2.46 63.76 9.85 2.44 28.42 13.84 2.10 11.28 82.05 60.32 3.89 78.88 9.56 5.29 10.18 66.97 1.61 16.07 1.64 21.92 29.50 72.97 12.09 1.59 76.21

OGE Energy O-I Glass ONE Gas ONEOK ON24 OakStreetHealth OccidentalPetrol OccidentalPetrolWt OceaneeringIntl OcwenFinancial Offerpad OilDriAmerica OilStatesIntl OldRepublic Olin Olo OmegaHealthcare Omnicom OnHolding OneLiberty OneConnectFinTech OneMain OnionGlobal OntoInnovation Ooma Oppenheimer A OppFi Oracle Orange OrchidIslandCap Organon OrionEngCarbons OrionGroup OrionOffice Orix OrmatTech OscarHealth Oshkosh OsirisAcqn OsiskoDevelopment OsiskoGoldRoyal OtisWorldwide Ouster OutfrontMedia OverseasShip Ovintiv Owens&Minor OwensCorning OwlRock Owlet OxfordIndustries

OGE 4.4 OI ... OGS 3.2 OKE 6.9 ONTF ... OSH ... OXY .9 OXY.WT ... OII ... OCN ... OPAD ... ODC 3.5 OIS ... ORI 4.1 OLN 1.7 OLO ... OHI 9.2 OMC 4.3 ONON ... OLP 6.9 OCFT ... OMF 9.8 OG ... ONTO ... OOMA ... OPY 1.7 OPFI ... ORCL 1.8 ORAN ... ORC 18.6 OGN 3.1 OEC .6 ORN ... ONL 3.5 IX 3.4 ORA .7 OSCR ... OSK 1.7 OSI ... ODV ... OR 1.6 OTIS 1.6 OUST ... OUT 6.6 OSG ... OVV 2.2 OMI .0 OC 1.9 ORCC 9.8 OWLT ... OXM 2.3

8 7 20 16 dd dd 9 ... dd 4 15 cc dd 5 5 dd 16 11 dd 12 dd 4 ... 21 dd 4 2 29 cc dd 7 6 dd dd 8 62 dd 15 28 dd dd 24 dd 40 dd 14 13 7 10 dd 10

37.61 14.98 78.46 54.57 11.89 20.30 57.52 35.92 9.90 25.94 2.85 31.77 5.16 22.36 46.66 10.09 29.19 64.60 18.99 26.03 1.63 38.66 .74 73.35 12.14 35.49 3.28 70.70 11.79 2.91 35.86 14.41 2.42 11.33 87.48 71.90 4.42 84.77 9.75 5.37 10.79 70.86 1.93 18.17 2.09 45.43 33.37 75.60 12.70 1.90 95.08

+2.60 .41 +0.45 ... +1.02 .62 +1.18 .935 +0.89 ... +4.85 ... +1.84 .13 +1.84 ... +0.11 ... +3.01 ... –0.52 ... +5.49 .28 –0.62 ... +1.32 .23 –1.49 .20 +0.05 ... +1.49 .67 +1.50 .70 +1.99 ... +1.17 .45 +0.25 ... +2.12 .95 ... ... +6.07 ... +0.83 ... +4.14 .15 –0.10 ... +2.98 .32 +0.42 ... +0.28 .045 +2.69 .28 –0.72.0207 –0.24 ... –0.38 .10 +2.591.7813 –1.75 .12 +0.02 ... +3.00 .37 +0.01 ... –0.53 ... –0.35.0425 +2.98 .29 +0.14 ... +0.81 .30 +0.05 ... –1.42 .25 +3.24.0025 –0.37 .35 +0.30 .31 –0.44 ... +6.57 .55

7.24 10.65 8.24 15.42 2.07 54.48 23.71 9.71 149.51 43.43 44.11 107.06 24.98 15.62 9.79 23.08 147.03 9.64 57.82 124.78 21.72 9.53 6.44 14.71 11.66 28.87 9.73 12.35 7.15 11.27 13.09 230.44 29.25 1.09 255.82 11.57 1.84 6.78 7.68 16.45 9.70 28.89 5.99 3.31 38.53 11.64 73.11 43.60 114.87 38.23 9.61 7.92 23.75 132.78 4.64 1.64 5.95 31.32 19.54 38.63 9.20 8.89 38.82 85.64 63.19 2.10 13.19 16.07 12.69 9.68 15.85 62.78 16.14 133.73

PBF Energy PBF Logistics PG&E PGT Innovations PHX Minerals PJT Partners PLDT PMV Consumer PNC Fin PNM Resources POSCO PPG Ind PPL ProgHoldings ProofAcqnIA PROS PSBusinessParks P10 PVH PackagingCpAm PagerDuty PagSeguroDig PalantirTech PampaEnergia ParPacific ParTechnology ParabellumAcqn Paragon28 ParamountGroup ParkAerospace ParkHotels ParkerHannifin Parsons PartyCity PaycomSoftware Paymentus Paysafe PeabodyEnergy Pearson PebblebrookHotel PegasusDigA PembinaPipeline PennantPark PA Reit PennyMacFin PennyMacMtg PenskeAuto Pentair Penumbra PerformanceFood PeridotAcqnIIA PerimeterSolns PeriphasCapA PerkinElmer PermianBasin PermianvilleRT PermRock Perrigo PershingSquare PetroChina PetroleoBrasil PetroleoBrasilA Pfizer PhilipMorris Phillips66 PhoenixNewMedia Phreesia PhysiciansRealty PiedmontOfficeA PineIslandA PingIdentity PinnacleWest Pinterest PioneerNatRscs

PBF ... PBFX 8.1 PCG ... PGTI ... PHX 2.6 PJT 1.4 PHI 3.9 PMVC ... PNC 3.7 PNM 2.9 PKX 6.6 PPG 2.0 PPL 3.3 PRG ... PACI ... PRO ... PSB 2.2 PX 1.1 PVH .2 PKG 3.6 PD ... PAGS ... PLTR ... PAM ... PARR ... PAR ... PRBM ... FNA ... PGRE 4.0 PKE 3.1 PK .3 PH 2.1 PSN ... PRTY ... PAYC ... PAY ... PSFE ... BTU ... PSO 2.7 PEB .2 PGSS ... PBA 5.6 PNNT 9.4 PEI ... PFSI 1.8 PMT 13.4 PAG 1.7 PNR 1.8 PEN ... PFGC ... PDOT ... PRM ... PCPC ... PKI .2 PBT 1.6 PVL 9.0 PRT 8.6 PRGO 2.5 PSTH ... PTR 6.7 PBR 39.0 PBR.A42.9 PFE 3.1 PM 4.8 PSX 4.6 FENG ... PHR ... DOC 5.3 PDM 6.2 PIPP ... PING ... PNW 4.7 PINS ... PXD 7.8

15 6 cc 25 dd 18 11 20 14 21 3 27 34 6 ... dd 12 72 5 14 dd 16 dd 3 dd dd 28 dd dd 31 dd 20 60 dd 80 cc dd 9 34 dd 96 19 5 dd 4 dd 6 15 dd cc 94 dd 87 24 61 20 11 dd 38 6 3 2 12 18 15 dd dd 48 34 29 dd 14 45 14

30.26 14.75 10.25 16.28 3.05 71.99 30.86 9.93 162.84 47.68 46.81 121.01 27.08 18.36 9.91 30.53 186.71 10.56 63.35 140.60 28.48 11.14 10.19 19.73 15.62 38.63 9.86 16.62 7.68 12.77 14.20 253.10 40.39 1.66 306.53 14.25 2.37 21.59 9.71 17.61 9.91 34.32 6.20 3.91 43.96 14.06 111.17 47.03 131.75 48.00 9.79 11.21 24.59 145.53 16.56 3.73 8.17 41.21 19.96 47.02 10.95 9.94 51.59 103.40 84.20 5.32 26.47 17.34 13.51 9.87 18.95 71.75 21.47 223.48

–2.72 ... +1.64 .30 +0.47 ... +0.15 ... –0.38 .02 +2.10 .25 –2.42 .844 +0.01 ... +8.75 1.50 +2.86.3475 –3.37.9327 +10.99 .59 +1.72 .225 +1.43 ... +0.02 ... +5.43 ... +0.79 1.05 –0.33 .03 +1.79.0375 +0.92 1.25 +4.53 ... +0.06 ... +1.95 ... ... ... –0.34 ... +3.97 ... +0.01 ... –0.04 ... +0.27.0775 +0.43 .10 –0.09 .01 +16.73 1.33 +3.60 ... +0.19 ... +41.70 ... +1.11 ... +0.06 ... –0.35 ... +0.40.1894 –0.31 .01 –0.02 ... –0.47 .168 +0.05 .145 –0.32 ... +2.85 .20 +1.66 .47 +5.11 .50 +3.13 .21 +11.61 ... +6.73 ... +0.01 ... –0.54 ... +0.04 ... +10.62 .07 –1.18.0917 –0.20 .045 +1.13.1001 +2.37 .26 +0.04 ... –0.241.5122 –0.66 .17 –0.49 .17 +5.06 .40 +5.45 1.25 –6.31 .97 +0.66 ... +6.27 ... +0.36 .23 +0.49 .21 +0.01 ... +0.95 ... +5.83 .85 +3.29 ... +1.71 6.60

Name

Tick Sym Yld P/E

PQ 44.12 17.51 13.19 23.81 4.98 89.50 39.00 9.94 228.14 50.11 80.02 177.32 30.72 50.79 10.05 48.70 189.83 17.14 125.42 168.50 50.33 61.65 29.29 25.86 21.10 74.50 10.05 25.41 11.54 16.20 21.76 340.00 41.84 10.43 558.97 39.23 13.35 33.29 12.36 26.45 9.96 42.74 8.02 39.75 71.52 21.53 123.60 80.40 293.20 58.13 10.16 15.14 24.69 203.16 23.08 5.79 10.88 50.90 23.08 57.87 16.30 15.04 61.71 112.48 111.28 10.08 76.10 19.30 19.84 11.01 30.40 86.87 81.77 288.46

June 27, 2022

BARRON’S

NEW YORK STOCK EXCHANGE COMPOSITE LIST

D ATA –52-Week– High Low

193.60 9.92 10.25 99.60 12.15 42.91 10.73 32.37 139.79 9.91 57.03 82.99 10.21 20.75 36.56 87.19 63.83 9.88 9.95 179.51 20.12 27.55 108.75 165.35 121.36 174.54 10.38 16.93 80.46 98.26 26.20 124.22 43.05 75.61 421.76 58.09 36.71 10.48 11.91 108.89 58.00 7.55 276.60 10.10 25.93 140.04 10.22 43.08 2.64 174.16 11.66

Last

Div Chg. Amt.

108.66 3.54 9.61 61.11 3.70 22.69 4.57 17.46 94.24 9.61 45.02 61.67 9.45 14.14 10.60 28.00 50.40 9.56 9.70 110.22 12.46 20.00 40.00 129.50 89.35 106.46 4.33 6.39 64.40 39.36 20.86 90.25 21.84 58.19 292.32 35.03 17.40 9.85 6.07 34.42 41.32 2.76 132.12 0.36 18.87 84.40 9.60 8.22 0.63 125.33 3.42

PiperSandler PitneyBowes PivotalInvtIII A PlanetFitness PlanetLabs Plantronics PlayAGS PlymouthIndREIT Polaris PontemA PortlandGenElec PostHoldings PostHldgsA PostalRealty PowerSchool PrecisionDrilling PrestigeCnsHlth PrimaveraCapA PrimeImpactI A Primerica PrimoWater ProAssurance ProcoreTech Procter&Gamble Progressive Prologis PropertyGuru ProPetro ProsperityBcshs ProtoLabs ProvidentFinSvcs PrudentialFin Prudential PublicServiceEnt PublicStorage PulteGroup PureStorage PyrophyteAcqn PzenaInvtMgmt Q2Holdings Qiagen QuadGraphics QuakerHoughton QuanergySystems QuanexBldg QuantaServices QuantumFin QuantumScape Qudian QuestDiag QuotientTech

PIPR PBI PICC PLNT PL POLY AGS PLYM PII PNTM POR POST PSPC PSTL PWSC PDS PBH PV PIAI PRI PRMW PRA PCOR PG PGR PLD PGRU PUMP PB PRLB PFS PRU PUK PEG PSA PHM PSTG PHYT PZN QTWO QGEN QUAD KWR QNGY NX PWR QFTA QS QD DGX QUOT

2.0 5.2 ... ... ... ... ... 4.9 2.4 ... 3.9 ... ... 6.1 ... ... ... ... ... 1.8 2.1 .9 ... 2.5 .3 2.6 ... ... 3.0 ... 4.3 4.9 1.4 3.5 2.5 1.5 ... ... 1.7 ... ... ... 1.1 ... 1.4 .2 ... ... ... 1.9 ...

7 13 25 cc dd cc dd dd 16 92 20 11 57 cc dd dd 15 cc 45 13 cc 9 dd 25 31 25 dd dd 13 38 10 8 dd dd 31 5 dd 58 8 dd 20 6 27 dd 10 38 dd dd dd 9 dd

113.94 3.87 9.80 71.62 4.80 39.65 5.50 18.05 107.57 9.84 47.00 80.08 9.69 15.18 12.84 60.95 58.90 9.85 9.92 121.00 13.61 23.26 51.15 144.35 115.99 122.59 4.95 9.62 69.84 48.38 22.21 97.41 24.70 62.51 314.19 40.39 26.95 10.00 6.91 41.65 46.63 2.94 152.60 .45 22.66 125.98 9.83 9.77 1.10 140.31 3.95

+2.30 .60 +0.24 .05 ... ... +6.56 ... –0.30 ... +0.22 ... +0.50 ... –0.16 .22 +10.03 .64 +0.02 ... +1.37.4525 +4.31 ... –0.01 ... +0.82 .23 +0.66 ... –0.52 ... +4.13 ... +0.02 ... ... ... +7.55 .55 +0.99 .07 +1.43 .05 +5.39 ... +11.99.9133 +6.43 .10 +12.23 .79 +0.62 ... –1.42 ... +1.88 .52 +2.22 ... +0.53 .24 +5.97 1.20 +1.13.1074 +3.35 .54 +15.65 2.00 +4.14 .15 +1.62 ... ... ... +0.49 .03 +4.76 ... +2.94 ... –0.47 ... +17.99 .415 +0.05 ... +1.70 .08 +12.13 .07 –0.03 ... +0.90 ... +0.09 ... +9.67 .66 +0.22 ...

9.73 24.81 21.48 9.50 227.26 96.22 10.20 1.16 3.33 74.56 9.25 17.97 1.60 86.54 12.37 6.65 6.93 81.96 2.57 34.27 79.00 11.05 62.29 8.86 3.16 6.57 108.28 37.33 18.02 0.50 94.32 135.46 134.70 3.46 9.14 108.10 19.15 189.40 9.84 46.68 1.08 24.10 72.06 55.84 9.73 9.69 9.75 48.53 59.58 3.78 48.65 4.68 73.39 21.65 6.27 9.60 1.83 190.08 44.19 176.00 28.51 0.45 369.51 9.50 94.23 34.10 4.06 25.57 61.71 13.39 70.47 89.91 311.87 8.74 3.08

RCF Acqn A RELX RE/MAX REV RH RLI RLJ Lodging RLX Tech RPC RPM RPTRealty RadianGroup Rafael RalphLauren RangeResources RangerEnergySvcs Ranpak RaymondJames RayonierAdvMatls Rayonier RaytheonTech ReadyCapital RealtyIncome RedBallAcqnA Redwire RedwoodTrust RegalRexnord RegionalMgmt RegionsFin Regis ReinsGrp RelianceSteel RenaissanceRe ReneSola Renren RepublicSvcs ResideoTech ResMed ResoluteForest RestaurantBrands Revlon Revolve RexAmerRes RexfordIndlRealty RibbitLeapA RiceAcqnII A RigelResourceA RingCentral RioTinto Riskified RitchieBros RiteAid RobertHalf Roblox RocketCos. RocketInternetA RockleyPhotonics Rockwell RogersComm B Rogers Rollins RomeoPower RoperTech RossAcqnIIA RoyalBkCanada RoyalCaribbean RushStreetInt RyanSpecialty RyderSystem RyersonHolding RymanHospitality SAP S&P Global SDCLEDGEAcqn SeacorMarine

RCFA ... RELX 2.4 RMAX 3.7 REVG 1.8 RH ... RLI .9 RLJ .4 RLX ... RES ... RPM 2.0 RPT 5.0 RDN 4.1 RFL ... RL 3.1 RRC ... RNGR ... PACK ... RJF 1.5 RYAM ... RYN 3.0 RTX 2.3 RC 13.2 O 4.3 RBAC ... RDW ... RWT 11.8 RRX 1.2 RM 3.1 RF 3.5 RGS ... RGA 2.5 RS 2.0 RNR .9 SOL ... RENN ... RSG 1.4 REZI ... RMD .8 RFP .0 QSR 4.3 REV ... RVLV ... REX ... REXR 2.1 LEAP ... RONI ... RRAC ... RNG ... RIO 12.6 RSKD ... RBA 1.6 RAD ... RHI 2.2 RBLX ... RKT .0 RKTA ... RKLY ... ROK 2.2 RCI 3.2 ROG ... ROL 1.1 RMO ... ROP .6 ROSS ... RY 3.9 RCL ... RSI ... RYAN ... R 3.3 RYI 2.1 RHP ... SAP 1.5 SPGI 1.0 SEDA ... SMHI ...

21 26 dd 36 11 20 dd 7 46 24 20 6 dd 12 dd dd dd 13 3 32 34 6 68 dd ... 4 22 5 8 dd 20 7 dd 79 dd 31 11 40 2 18 dd 22 10 68 4 59 ... dd 5 dd 23 dd 13 dd 5 27 dd 37 19 52 52 dd 39 24 11 dd dd cc 6 2 dd 20 25 31 21

9.94 27.21 24.79 11.19 268.25 113.82 11.21 2.32 6.88 81.61 10.31 19.61 2.04 96.35 26.29 10.16 7.42 92.50 2.65 38.41 94.20 12.75 69.19 9.96 3.17 7.60 117.21 39.25 19.49 .91 117.87 172.79 156.75 4.81 29.68 129.90 20.45 211.50 12.10 49.75 7.95 30.04 83.92 59.53 9.93 9.79 9.94 61.80 62.72 5.09 61.76 8.69 77.90 36.42 7.73 9.77 2.66 201.06 48.44 259.53 35.11 .53 407.71 9.80 96.48 41.76 5.15 36.93 71.14 23.52 77.49 98.41 341.66 9.74 6.47

–0.04 ... +1.67.4443 +2.51 .23 +0.83 .05 +22.81 ... +4.14 .26 +0.16 .01 ... ... –0.27 ... +6.41 .40 +0.68 .13 +1.20 .20 +0.12 ... +6.64 .75 ... ... –0.21 ... +0.42 ... +5.00 .34 –0.08 ... +2.26 .285 +5.32 .55 +1.33 .42 +4.32 .236 +0.01 ... –0.73 ... +0.59 .23 +6.94 .35 –0.40 .30 +0.79 .17 +0.27 ... +7.05 .73 +2.69 .875 +7.81 .37 –0.08 ... +0.72 ... +9.17 .46 +0.56 ... +13.93 .42 –1.67 1.00 +1.96 .54 +4.22 ... +1.49 ... –0.74 ... +2.47 .315 +0.01 ... +0.01 ... +0.01 ... +9.57 ... –1.82 .62 +0.25 ... +2.26 .25 +2.49 ... +1.06 .43 +9.55 ... +1.36 1.01 –0.01 ... +0.46 ... +9.97 1.12 +3.16.3988 +0.15 ... +3.33 .10 +0.08 ... +33.00 .62 +0.02 ... +0.89.9974 +4.46 ... +0.74 ... +1.61 ... –1.22 .58 –0.94 .125 +1.17 ... +5.41 2.66 +21.73 .85 –0.01 ... +0.04 ...

Name

Tick Sym Yld P/E

RS 10.31 32.71 35.34 18.35 744.56 121.93 16.22 9.43 12.91 101.48 14.99 24.84 66.44 135.99 37.44 12.35 42.97 117.37 8.32 45.87 106.02 16.78 75.40 10.50 16.98 14.17 176.91 67.60 25.57 9.94 127.22 211.66 174.55 10.00 30.44 145.98 33.25 301.34 17.11 68.53 17.65 89.60 113.43 84.68 10.92 10.75 10.46 315.00 89.51 40.48 76.18 19.22 125.77 141.60 20.84 9.91 16.99 354.99 64.55 274.51 40.11 8.97 505.00 10.57 119.41 98.27 21.83 42.43 93.05 44.09 101.19 151.48 484.21 9.82 9.78

–52-Week– High Low

11.47 11.60 10.56 27.94 17.61 73.69 53.36 85.26 54.97 10.31 3.61 68.24 16.17 48.27 9.98 37.13 90.73 5.44 8.98 95.29 64.47 311.75 23.39 31.41 14.70 10.28 10.04 29.28 9.18 30.25 28.37 56.22 49.83 27.50 96.24 40.95 95.98 38.07 193.50 15.14 10.30 28.90 372.70 22.22 70.72 76.57 10.43 43.60 20.91 173.28 32.48 18.55 65.58 106.32 78.53 6.25 19.47 72.07 707.60 97.25 109.88 12.81 31.60 61.68 354.15 99.90 37.20 1762.92 128.36 20.64 111.92 30.96 49.27 239.26 25.50 9.93 171.12 141.26 10.47 260.00 31.60 47.24 55.87 13.39 12.88 22.27 85.92 15.14 85.65 86.74 44.27 146.74 83.34 235.36 405.00 10.61 10.99 10.00 115.76 14.61 23.00 23.39 12.24 58.00 55.17 67.82 133.75 35.32 77.24 79.32 10.41 56.33 95.62 9.87 107.22 19.50 79.24 53.31 32.90 52.29 305.60 10.41 26.50 57.00 64.69 62.21 55.09 121.45

3.61 6.67 4.42 17.25 12.40 55.74 21.61 46.64 14.79 9.95 0.20 41.66 2.73 30.12 9.69 24.48 37.00 2.98 3.32 33.61 34.98 154.55 11.52 8.72 3.75 9.80 9.61 4.90 5.31 22.35 12.75 41.73 25.90 20.48 59.35 23.12 78.10 11.02 72.58 7.57 9.80 8.29 54.06 12.75 53.87 40.76 4.88 21.40 1.93 119.56 7.41 9.73 40.23 72.75 18.64 2.28 5.15 52.31 406.47 63.28 37.72 1.07 25.63 36.32 214.22 29.94 28.67 297.64 51.68 10.13 48.31 10.70 15.75 54.55 7.60 9.68 93.50 87.73 5.19 108.77 16.96 19.91 33.50 5.74 3.97 1.28 43.04 3.55 27.05 51.91 27.39 118.55 11.88 190.08 110.27 9.77 9.77 9.61 43.66 6.11 10.40 3.66 1.75 34.28 19.73 51.52 79.94 20.75 60.12 48.90 9.76 34.36 62.58 3.81 75.66 1.25 59.60 26.18 15.92 35.79 89.03 9.65 9.41 32.57 14.43 37.80 37.69 82.38

Name

SES AI SFL SignaSports SINOPEC SITE Centers SJW Group SK Telecom SLGreenRealty SM Energy SoarTechAcqnA SOS SPX SQZ Biotech STAG Indl ST Ener I A StoreCapital SabineRoyalty SafeBulkers SafeguardSci Safehold SailPointTechs Salesforce SallyBeauty Samsara SanJuanBasin SandbridgeX2 SandbridgeX2 A SandRidgeEnergy SandstormGold SaratogaInvt Sasol SaulCenters Schlumberger SchneiderNatl SchwabC SchweitzerMaud ScienceApplicat ScorpioTankers ScottsMiracleGro ScullyRoyalty SculptorAcqnIA SculptorCapMgmt Sea SeabridgeGold SealedAir SeaWorldEnt SelectEnergySvcs SelectMedical SelectQuote Sempra Semrush SendasDistrib SensataTechs SensientTech SentinelOne SequansComms SeritageGrowth ServiceCorp ServiceNow ServisFirst ShakeShack Shapeways ShawComm B Shell SherwinWilliams Shift4Paymts ShinhanFin Shopify Shutterstock Sibanye-Stillwater SignetJewelers SignifyHealth SilverBowRscs SilvergateCapital Similarweb SimonPropA SimonProperty SimpsonMfg SiriusPoint SiteOneLandscape SitioRoyalties SixFlags SkechersUSA SkeenaRscs Skillsoft Skillz SkylineChamp SmartRent Smartsheet SmithAO Smith&Nephew Smucker Snap SnapOn Snowflake SocialCapHedIV A SocialCapHedVI A SocialLvgI A SOQUIMICH SolarisOilfield SolarWinds SoloBrands Sonendo SonicAutomotive SonidaSrLiving SonocoProducts Sony SoJerseyInd Southern SoCopper SouthportAcqnA SouthwestAir SouthwestGas SouthwesternEner SpectrumBrands SpireGlobal Spire SpiritAeroSys SpiritAirlines SpiritRealtyCap Spotify SpreeAcqn1 A Sprinklr Sprott Squarespace St.Joe StandardMotor StandexInt

Tick Sym Yld P/E

SES ... SFL 9.5 SSU ... SHI 7.2 SITC 3.8 SJW 2.3 SKM 6.5 SLG 7.5 SM .1 FLYA ... SOS ... SPXC ... SQZ ... STAG 4.5 STET ... STOR 5.7 SBR 7.0 SB 5.2 SFE ... SAFE 1.9 SAIL ... CRM ... SBH ... IOT ... SJT 9.3 SBII.UT ... SBII ... SD ... SAND 1.0 SAR 8.9 SSL ... BFS 4.8 SLB 2.0 SNDR 1.4 SCHW 1.2 SWM 7.1 SAIC 1.6 STNG 1.1 SMG 3.2 SRL 13.2 SCUA ... SCU 13.9 SE ... SA ... SEE 1.3 SEAS ... WTTR ... SEM 2.0 SLQT ... SRE 3.1 SEMR ... ASAI 1.1 ST 1.0 SXT 2.0 S ... SQNS ... SRG ... SCI 1.5 NOW ... SFBS 1.2 SHAK ... SHPW ... SJR 3.0 SHEL 3.5 SHW 1.0 FOUR ... SHG 5.1 SHOP ... SSTK 1.7 SBSW 9.7 SIG 1.3 SGFY ... SBOW ... SI ... SMWB ... SPGS ... SPG 6.8 SSD 1.1 SPNT ... SITE ... STR 10.9 SIX ... SKX ... SKE ... SKIL ... SKLZ ... SKY ... SMRT ... SMAR ... AOS 2.0 SNN 2.5 SJM 3.1 SNAP ... SNA 2.8 SNOW ... IPOD ... IPOF ... SLAC ... SQM 2.9 SOI 3.8 SWI ... DTC ... SONX ... SAH 2.6 SNDA ... SON 3.4 SONY .5 SJI 3.6 SO 3.9 SCCO 8.1 PORT ... LUV ... SWX 2.8 SWN ... SPB 2.0 SPIR ... SR 3.7 SPR .1 SAVE ... SRC 6.6 SPOT ... SHAP ... CXM ... SII 2.7 SQSP ... JOE 1.0 SMP 2.4 SXI 1.2

dd 6 dd 13 27 30 7 8 14 47 dd 54 dd 25 ... 25 12 3 dd 25 dd cc 6 dd 10 ... ... 5 38 6 24 28 24 9 23 11 20 dd 12 20 ... dd dd dd 17 13 dd 10 dd 47 dd 13 21 28 dd ... dd 14 cc 20 dd dd 19 9 34 dd 5 cc 24 3 8 82 dd 20 dd 38 15 14 23 22 cc 12 8 dd dd dd 11 dd dd 18 24 22 dd 13 dd 24 28 39 19 99 dd 14 ... 4 1 dd 14 23 32 12 ... 40 30 dd 32 dd 18 dd dd 21 dd ... dd 26 dd 28 11 17

Last

Div Chg. Amt.

4.55 9.29 6.90 18.96 13.70 61.35 23.46 49.49 35.54 10.20 .20 54.43 3.53 32.19 9.88 27.01 59.05 3.81 3.93 37.08 62.87 185.92 12.73 12.51 9.09 9.88 9.75 15.98 6.22 23.66 23.19 47.96 35.06 22.67 64.43 24.71 94.39 34.82 82.27 8.16 9.93 8.90 80.47 13.44 59.65 46.91 6.72 24.46 3.18 149.44 14.32 14.13 43.19 81.09 26.49 2.61 5.88 68.56 504.09 77.80 42.20 1.17 29.65 50.91 231.25 37.54 30.09 385.23 57.32 10.73 61.88 15.35 31.50 63.45 8.97 9.80 99.62 97.99 5.52 126.14 23.11 22.85 38.58 5.95 4.28 1.52 49.65 5.14 34.76 55.82 28.69 128.88 14.70 201.87 151.53 9.94 9.95 9.83 89.28 11.04 10.83 4.74 1.75 38.27 22.00 56.93 85.64 33.99 69.83 51.50 9.95 37.73 88.07 7.01 84.78 1.40 73.25 30.03 24.52 38.46 107.00 9.97 11.57 36.80 21.57 40.31 44.63 85.27

–0.01 ... +0.27 .22 +1.40 ... –0.051.571 +0.68 .13 +4.43 .36 +1.21.3615 +0.44.3108 –4.17 .01 +0.04 ... –0.10 ... +2.57 ... +0.39 ... +1.85.1217 ... ... +1.49 .385 –2.33.7195 –0.26 .05 +0.34 ... +2.24 .177 +1.70 ... +22.66 ... +0.49 ... +1.16 ... –0.39.1116 +0.07 ... –0.02 ... –3.21 ... –0.15 .016 +0.40 .53 +0.07 ... +4.99 .57 –1.58 .175 +1.01 .08 +4.44 .20 +0.51 .44 +8.86 .37 +0.73 .10 +5.58 .66 +0.09 .27 +0.01 ... –0.11 .11 +10.27 ... –0.07 ... +3.41 .20 +2.88 ... –0.61 ... +1.60 .125 +0.62 ... +9.951.145 +2.63 ... –0.84.1245 +1.91 .11 +8.06 .41 +3.22 ... +0.32 ... +0.64 ... +4.48 .25 +60.30 ... +2.46 .23 +2.68 ... +0.10 ... +3.02.0767 +0.98 .50 +8.46 .60 +5.04 ... –0.66.3134 +68.34 ... +4.95 .24 –0.16.4936 +3.08 .20 +2.35 ... –4.26 ... +5.44 ... +0.69 ... +0.02 ... +3.93 1.70 +9.27 .26 +0.20 ... +13.80 ... –1.78 .72 +0.87 ... +2.11 ... –0.56 ... –0.38 ... +0.16 ... +5.29 ... –0.28 ... +6.49 ... +2.71 .28 +0.98 .462 +6.66 .99 +2.28 ... +6.14 1.42 +32.15 ... –0.04 ... –0.03 ... +0.04 ... –1.01.0969 +0.10 .105 –0.05 ... +0.65 ... –0.21 ... +1.74 .25 –0.36 ... +4.79 .49 +1.64.2672 –0.21 .31 +4.44 .68 –3.95 1.25 +0.06 ... +2.10 ... +5.58 .62 +0.29 ... +6.96 .42 –0.07 ... +2.58 .685 +1.47 .01 +3.24 ... +1.54 .638 +7.73 ... +0.02 ... +1.30 ... +0.15 .25 +0.47 ... +1.04 .10 +3.13 .27 +1.06 .26

–52-Week– High Low

210.92 58.50 13.90 10.90 7.68 27.01 104.87 45.03 15.84 21.99 37.79 129.35 255.93 29.18 81.00 83.28 52.15 3.50 31.79 41.84 281.16 24.41 92.49 17.75 7.74 10.94 41.46 46.64 211.79 58.49 9.82 42.72 13.50 10.01 46.40 46.95 13.91 12.48 9.44 9.89 12.83 56.20 33.84 53.00 52.49 54.40 91.53 37.10

Last

Div Chg. Amt.

99.43 40.92 6.26 4.03 2.70 19.69 61.29 23.26 10.19 12.56 5.72 95.03 192.40 13.36 45.63 54.74 32.33 1.83 13.64 25.65 193.34 1.69 61.19 13.83 5.70 6.70 22.83 13.80 148.64 43.80 5.85 17.10 2.16 2.41 12.47 34.26 9.30 4.14 3.11 9.58 8.37 11.50 20.15 23.10 27.40 34.15 68.05 7.45

StanleyBlackDck Stantec Starrett A StarryGroup Startek StarwoodProp StateStreet SteelPartners Steelcase Stellantis Stem Stepan Steris Stevanato StewartInfo StifelFinancial STMicroelec StoneMor Stoneridge Stride Stryker StudioCity SturmRuger SuburbanPropane SumitomoMits SummitHotelProp SummitMaterials SummitMidstream SunComms SunLifeFinancial SunCokeEnergy SuncorEnergy SunlandsTech SunlightFinl SunnovaEnergy Sunoco SunstoneHotelInv SuperGroup SuperiorIndsIntl Supernova III A Suzano Sweetgreen Switch Sylvamo SynchronyFin SynovusFin Sysco System1

SWK STN SCX STRY SRT STWD STT SPLP SCS STLA STEM SCL STE STVN STC SF STM STON SRI LRN SYK MSC RGR SPH SMFG INN SUM SMLP SUI SLF SXC SU STG SUNL NOVA SUN SHO SGHC SUP STRE SUZ SG SWCH SLVM SYF SNV SYY SST

2.8 1.3 ... ... ... 8.6 3.4 ... 5.2 ... ... 1.3 .8 .3 3.0 2.1 .6 ... ... ... 1.4 ... 5.0 8.5 4.8 ... ... ... 2.2 4.5 3.5 3.8 .0 ... ... 8.9 ... ... ... ... 1.3 ... .6 1.4 3.0 3.7 2.3 ...

13 31 4 dd 11 10 9 14 64 3 dd 17 87 28 4 9 13 dd dd 17 39 dd 8 6 7 dd 21 dd 53 9 10 10 1 dd dd 6 28 dd dd 98 3 dd cc 6 4 8 44 dd

111.16 43.48 7.05 4.85 3.21 22.24 66.27 42.41 11.17 13.25 8.40 102.10 207.89 16.14 49.50 58.05 33.84 3.50 17.24 36.99 204.43 2.05 66.06 15.33 6.11 7.34 24.23 14.08 162.80 45.83 6.87 34.54 5.79 3.23 20.20 37.30 10.23 4.50 4.30 9.78 9.15 13.33 33.49 31.92 29.54 37.02 85.57 8.68

+7.91 .79 +1.46.1391 –0.15 ... –0.33 ... +0.10 ... +1.82 .48 +4.52 .57 –0.09 ... +0.82 .145 +0.35 ... +1.10 ... +6.32 .335 +15.11 .43 +1.76.0546 +2.26 .375 +1.82 .30 +0.65 .051 +0.06 ... +1.41 ... +1.81 ... +10.34 .695 –0.01 ... +3.65 .68 +0.74 .325 +0.30.1752 +0.21 ... +0.30 ... –1.20 ... +9.52 .88 +1.15.5206 +0.22 .06 +0.22.3716 +0.50 .63 –0.36 ... +0.44 ... +1.69.8255 +0.29 ... –0.08 ... +0.08 ... ... ... –0.41 .116 +1.19 ... +0.47.0525 –6.96.1125 –0.35 .22 +1.45 .34 +6.80 .49 –0.43 ...

1.60 44.77 9.50 8.45 89.08 112.01 16.42 21.34 20.73 34.96 71.63 9.81 53.69 9.60 9.80 9.65 8.80 8.68 9.63 82.76 13.05 8.57 13.77 26.39 38.82 138.58 33.59 18.48 20.05 0.52 5.55 19.32 16.05 2.56 9.89 14.83 27.38 4.57 344.66 244.81 7.62 4.10 20.44 15.04 20.03 9.87 18.80 2.95 50.37 54.90 9.51 33.38 27.35 36.30 3.64 54.55 2.32 7.23 946.29 26.97 57.11 491.19 14.12 91.55 66.26 8.79 128.19 9.75 9.95 7.07 51.06 11.68 6.69 11.91 40.20 29.01 150.72 71.86

TAL Education TC Energy TCW Spac A TDCX TD Synnex TE Connectivity Tegna Telus TelusIntl Ternium TFI Intl TIM TJX TLGAcqnOneA TPGPaceBenA TPGPaceBenII TPG RE Fin TailwindAcqnA TailwindIntlA TaiwanSemi TakedaPharm TalosEnergy Tanger Tapestry TargaResources Target TaroPharm TataMotors TaylorMorrison Team TechnipFMC TeckRscsB Tecnoglass Teekay TeekayTankers TejonRanch TeladocHealth TelecomArgentina TeledyneTech Teleflex TelefonicaBras Telefonica TelekmIndonesia Telephone&Data TempurSealy 10XCapIII A Tenaris TencentMusic TenetHealthcare Tennant Tenneco Teradata Terex Terminix TerranOrbital TerrenoRealty TetraTech TevaPharm TexasPacLand Textainer Textron ThermoFisherSci Thermon ThomsonReuters ThorIndustries 3D Systems 3M Tidewater TigaAcqnA Tilly's Timken TimkenSteel TItanIntl Toast Toll Bros TootsieRoll TopBuild Toro

TAL ... TRP 5.6 TSPQ ... TDCX ... SNX 1.3 TEL 1.9 TGNA 1.8 TU 4.6 TIXT ... TX 6.9 TFII 1.4 TIMB 2.8 TJX 2.0 TLGA ... TPGY ... YTPG ... TRTX10.1 TWND ... TWNI ... TSM 1.7 TAK 5.1 TALO ... SKT 5.4 TPR 3.0 TRGP 2.4 TGT 2.9 TARO ... TTM ... TMHC ... TISI ... FTI ... TECK 1.2 TGLS 1.5 TK ... TNK ... TRC ... TDOC ... TEO 27.1 TDY ... TFX .5 VIV 7.1 TEF 3.1 TLK 2.9 TDS 4.4 TPX 1.7 VCXB ... TS .0 TME ... THC ... TNC 1.7 TEN ... TDC ... TEX 1.8 TMX ... LLAP ... TRNO 2.3 TTI ... TEVA ... TPL .8 TGH 3.5 TXT .1 TMO .2 THR ... TRI 1.7 THO 2.2 DDD ... MMM 4.4 TDW ... TINV ... TLYS .0 TKR 2.3 TMST ... TWI ... TOST ... TOL 1.8 TR 1.0 BLD ... TTC 1.5

... 20 23 ... 15 16 10 23 63 2 11 10 22 37 2 dd 12 21 68 19 21 dd 64 11 dd 12 25 dd 4 dd dd 5 10 dd dd 39 dd 9 31 25 13 3 16 18 8 ... 10 20 7 23 dd 34 9 44 dd 47 cc dd 37 5 18 28 23 31 4 5 14 dd 14 4 11 6 17 dd 6 36 15 24

4.94 51.79 9.74 9.60 95.05 118.39 21.43 22.41 25.58 37.67 78.59 11.98 60.24 9.80 9.90 9.75 9.51 9.95 9.81 85.92 13.84 15.57 14.85 33.33 58.14 150.42 38.10 26.67 23.24 .84 6.32 31.69 17.52 2.92 17.41 15.84 37.17 4.58 378.02 258.05 8.94 5.03 27.59 16.18 23.66 9.98 26.07 4.96 58.24 59.54 16.70 39.75 29.58 41.42 5.05 58.94 4.17 7.74 1519.96 28.43 60.62 544.81 14.68 104.13 79.40 10.52 134.33 21.83 10.25 7.61 54.88 20.02 15.89 15.15 45.01 34.94 167.20 79.02

+0.07 ... +1.68.7011 –0.01 ... +0.80 ... +4.51 .30 +2.86 .56 +0.71 .095 +0.38.2701 +3.04 ... +0.76 1.80 +5.60 .27 –0.07.2035 +3.62 .295 +0.01 ... ... ... –0.01 ... +0.01 .24 +0.01 ... +0.02 ... +0.92.4625 +0.72.3563 –3.04 ... +0.57 .20 +1.23 .25 –2.51 .35 +11.12 1.08 +1.50 ... +1.50 ... +2.55 ... –0.03 ... –0.27 ... –4.77.3925 +0.10 .065 –0.08 ... –0.55 ... +0.97 ... +6.50 ... –0.23.3139 +27.67 ... +13.12 .34 +0.14.0162 +0.37 .103 +0.201.0389 +0.80 .18 +2.42 .10 –0.01 ... –1.14 .56 +0.43 ... +5.29 ... +3.23 .25 +1.19 ... +4.12 ... +1.22 .13 +2.94 ... –0.29 ... +3.44 .34 –0.08 ... +0.03 ... +63.7820.00 +1.37 .25 +1.82 .02 +43.91 .30 –0.49 ... +5.58 .445 +8.14 .43 +0.75 ... +4.49 1.49 +0.13 ... +0.01 ... +0.29 1.00 +0.95 .31 +0.66 ... –1.63 ... +2.03 ... +3.48 .20 +2.60 .09 +5.49 ... +3.77 .30

Name

Tick Sym Yld P/E

T 26.62 59.38 9.92 30.00 130.93 166.44 23.04 27.50 39.91 56.86 120.50 15.61 77.35 9.90 14.17 10.15 14.21 10.24 9.89 145.00 17.31 25.49 22.51 47.05 81.50 268.98 74.29 35.38 35.51 7.91 9.63 45.90 34.90 4.17 22.10 21.69 174.32 6.59 493.97 428.36 11.78 5.39 33.21 23.85 50.51 10.10 34.76 16.17 92.65 85.33 21.63 59.38 53.82 53.33 12.69 86.00 5.82 10.50 1756.00 41.89 79.45 672.34 20.35 123.60 128.87 41.48 203.21 28.79 10.30 17.80 81.90 26.23 19.81 69.93 75.61 38.09 284.07 115.68

–52-Week– High Low

86.02 33.19 10.15 61.15 15.33 213.74 32.59 207.06 12.13 47.35 686.06 5.56 7.65 125.35 63.19 187.98 9.82 14.16 47.47 140.98 28.29 17.23 10.02 109.40 35.35 61.63 19.25 9.89 72.34 27.85 26.33 32.91 68.95 13.90 13.50 25.45 5.00 54.49 31.05 15.67 25.75 412.68 9.91 73.34 9.98 7.98 557.55 100.72

B A R R O N S .C O M / D ATA Last

Div Chg. Amt.

62.82 4.33 9.61 40.33 8.03 152.39 3.85 120.64 9.44 29.20 500.08 2.63 4.05 75.42 37.67 145.40 7.46 9.95 29.47 49.31 15.05 8.49 9.72 69.16 22.21 35.77 11.86 9.69 46.75 11.47 15.38 15.77 44.75 6.75 7.59 5.54 2.56 25.56 9.75 8.33 1.75 77.14 9.62 31.30 9.65 4.26 300.85 69.88

TorontoDomBk Torrid TortoiseEcoIII A TotalEnergies TownsquareMedia ToyotaMotor Traeger TraneTech Transalta TrancntlRlty TransDigm Transocean TransportadGas TransUnion Travel+Leisure Travelers TrecoraRscs Tredegar TreeHouseFoods Trex TriPointe TriconRes TrineIIAcqnA TriNet TrinityIndustries Trinseo TriplePtVent TristarAcqnI TritonIntl TriumphGroup Tronox TrueBlue TruistFinl TsakosEnergy TufinSoftware Tupperware TurkcellIletism TurningPoint TurquoiseHill TutorPerini Tuya Twilio TwinRidgeCapA Twitter twoA TwoHarbors TylerTech TysonFoods

TD 4.2 CURV ... TRTL ... TTE ... TSQ ... TM 2.4 COOK ... TT 2.0 TAC 1.4 TCI ... TDG ... RIG ... TGS ... TRU .5 TNL 3.8 TRV 2.2 TREC ... TG 4.5 THS ... TREX ... TPH ... TCN 2.3 TRAQ ... TNET ... TRN 3.8 TSE 3.2 TPVG 11.1 TRIS ... TRTN 5.0 TGI ... TROX 3.0 TBI ... TFC 3.9 TNP 2.2 TUFN ... TUP ... TKC 5.5 TPB .8 TRQ ... TPC ... TUYA ... TWLO ... TRCA ... TWTR ... TWOA ... TWO 13.4 TYL ... TSN 2.1

10 dd 29 8 7 9 dd 22 dd cc 38 dd 3 49 11 11 27 5 dd 29 4 4 35 13 52 4 6 36 6 dd 9 10 11 dd dd dd 5 12 10 9 dd dd 24 cc dd 15 89 8

64.96 5.17 9.67 52.34 9.00 159.08 5.21 131.49 10.99 39.96 538.75 3.49 5.13 81.83 41.71 166.72 9.81 10.55 40.60 58.53 17.21 10.20 9.94 76.61 24.51 40.20 12.96 9.82 52.00 12.84 16.82 17.65 49.22 9.12 12.60 7.06 2.70 29.31 26.94 8.96 2.53 99.12 9.79 39.41 9.76 5.08 345.33 85.80

–1.39.6935 +0.45 ... ... ... +1.04 ... +0.84 ... +5.132.2028 +1.07 ... +10.52 .67 +0.54.0394 –1.44 ... +22.73 ... –0.03 ... +0.03 ... +4.70 .095 +1.71 .40 +4.84 .93 +0.03 ... +0.27 .12 +1.58 ... +7.08 ... +1.39 ... +0.76 .058 ... ... +6.22 ... +1.54 .23 +2.77 .32 +0.47 .36 +0.01 ... +0.59 .65 +0.44 ... +0.82 .125 +1.42 ... +2.93 .48 +0.28 .10 +0.56 ... +0.43 ... +0.10.0826 +1.40 .06 –0.79 ... +0.43 ... +0.28 ... +15.10 ... –0.02 ... +1.63 ... –0.02 ... +0.63 .17 +34.63 ... +2.73 .46

14.42 42.00 33.05 16.50 40.53 14.06 25.44 27.48 9.60 84.43 7.23 2.13 3.14 20.16 218.15 13.66 2.18 8.73 7.87 12.10 154.72 42.54 195.68 10.80 6.92 30.61 165.34 230.54 44.79 17.98 383.12 29.09 21.56 46.24 47.27 99.54 11.55 5.34 22.25 0.51 14.00 14.94 15.43 67.01 4.14 12.06

UBS Group UDR UGI UMH Prop Unitil USA Compression US Cellular US Foods USHG Acqn A US PhysTherapy US Silica US Xpress UWM Uber Ubiquiti UiPath UltraparPart UnderArmour A UnderArmour C Unifi Unifirst Unilever UnionPacific Unisys UnitedMicro UnitedNatFoods UPS B UnitedRentals US Bancorp US Steel UnitedHealth UnitySoftware Univar Universal UniversalHealth UniversalHealthB UnivInsurance UnvlTechInst UnumGroup UpHealth UrbanEdgeProp UrstadtBiddle UrstadtProp A UsanaHealth UserTesting UtzBrands

UBS 3.0 UDR 3.3 UGI 3.5 UMH 4.7 UTL 2.7 USAC12.8 USM ... USFD ... HUGS ... USPH 1.5 SLCA ... USX ... UWMC10.4 UBER ... UI .9 PATH ... UGP 5.4 UAA ... UA ... UFI ... UNF .7 UL 4.0 UNP 2.4 UIS ... UMC 6.9 UNFI ... UPS 3.3 URI ... USB 3.9 X 1.0 UNH 1.3 U ... UNVR ... UVV 5.3 UHT 5.2 UHS .7 UVE 4.9 UTI ... UNM 3.5 UPH ... UE 4.1 UBP 5.1 UBA 5.7 USNA ... USER ... UTZ 1.5

8 92 6 81 23 dd 18 50 dd 39 dd dd 7 dd 37 dd 16 20 18 11 24 17 20 dd 8 10 15 12 10 1 27 dd 8 17 7 10 36 11 8 dd 20 18 18 14 dd 48

16.82 46.15 39.47 17.09 57.04 16.37 29.78 32.00 9.83 111.21 10.88 2.98 3.83 23.03 264.09 21.92 2.32 9.58 8.39 14.27 163.94 46.25 215.78 12.24 7.35 40.50 183.30 248.29 47.52 19.84 495.64 46.81 25.32 59.47 54.11 108.77 12.96 6.88 34.29 .59 15.69 16.84 16.62 74.26 5.42 14.10

+1.11 .50 +2.62 .38 +1.82 .36 +0.12 .20 +4.75 .39 +1.40 .525 +0.76 ... +3.48 ... ... ... +5.31 .41 –1.13 ... +0.34 ... +0.61 .10 +1.22 ... +15.22 .60 +3.47 ... –0.07.0613 +0.42 ... +0.01 ... +1.96 ... +7.95 .30 +2.53.4555 +9.33 1.30 +0.91 ... –0.63.2854 +2.64 ... +12.23 1.52 +8.60 ... +2.11 .46 –0.05 .05 +43.58 1.65 +11.33 ... –1.42 ... +2.20 .79 +4.15 .71 +4.98 .20 +0.40 .16 –0.90 ... +1.73 .30 +0.07 ... +0.88 .16 +1.43.2145 +0.79.2375 +3.72 ... +0.33 ... +0.96 .054

44.17 2.12 26.23 6.62 3.33 3.54 2.06 218.37 23.02 11.16 2.71 58.85 21.11 203.31 26.70 2.46 8.50 30.69 152.04 1.57 9.11 1.13 45.44 13.42 55.28 45.55 5.51 3.66

VF ViaOptronics VICI Prop Vizio VOC Energy VTEX VaalcoEnergy VailResorts Valaris Vale ValensSemicon ValeroEnergy Valhi ValmontInds Valvoline Vapotherm VectorGroup Vectrus VeevaSystems Velo3D VelocityFinl VenatorMaterials Ventas VerisResidential Veritiv Verizon VermilionEnergy VerticalAerospace

VFC 4.2 VIAO ... VICI 4.7 VZIO ... VOC 14.3 VTEX ... EGY 1.8 MTN 3.3 VAL ... VALE18.8 VLN ... VLO 3.8 VHI .7 VMI 1.0 VVV 1.7 VAPO ... VGR 7.4 VEC ... VEEV ... VLD ... VEL ... VNTR ... VTR 3.5 VRE ... VRTV ... VZ 5.0 VET 1.1 EVTL ...

14 dd 19 dd 9 dd 5 30 dd 3 dd 17 8 24 12 dd 8 11 82 dd 15 dd cc dd 8 10 4 dd

48.01 2.60 30.32 8.33 6.23 3.60 7.22 232.34 43.82 14.20 3.38 103.93 44.32 226.36 29.35 3.16 10.88 32.49 207.04 1.68 11.27 2.17 51.23 13.88 109.00 50.96 17.86 3.88

+2.31 .50 +0.01 ... +1.51 .36 –0.73 ... –0.39 .28 –0.29 ... –0.22.0325 +5.52 1.91 –6.71 ... –0.73 .718 +0.22 ... –8.51 .98 +0.96 .08 +8.36 .55 +0.79 .125 +0.64 ... +0.42 .20 +0.76 ... +23.39 ... –0.08 ... –0.37 ... +0.16 ... +2.25 .45 +0.01 ... –3.06 ... +1.93 .64 –0.88.0464 –0.47 ...

Name

Tick Sym Yld P/E

U 21.49 61.06 48.55 27.50 58.87 20.14 38.05 39.73 10.94 123.38 21.54 9.81 9.59 52.36 344.77 72.90 3.98 27.28 23.00 25.70 242.80 60.26 278.94 27.30 12.68 57.89 233.72 414.99 63.57 39.25 553.29 210.00 34.00 64.13 63.21 165.00 19.64 11.45 37.49 7.10 19.96 19.97 21.66 103.95 15.98 23.79

V 84.96 12.30 33.95 28.24 8.86 33.36 8.77 376.24 63.45 23.18 12.19 146.81 54.06 277.00 37.97 31.87 13.38 52.67 343.96 13.18 14.00 5.13 64.02 19.90 161.10 56.85 25.41 18.44

–52-Week– High Low

28.80 52.73 15.79 76.00 11.57 20.70 57.51 4.67 252.67 22.93 39.71 10.06 52.69 27.39 14.09 167.83 14.34 37.08 48.44 74.97 213.65 10.05

Last

Div Chg. Amt.

8.91 25.41 3.05 30.53 6.33 5.75 5.14 0.99 185.91 17.41 27.75 3.38 28.81 16.51 3.60 91.53 1.44 21.95 27.64 56.64 141.18 9.67

Vertiv Viad VicariousSurgical Victoria'sSecret VinceHolding Vipshop VirginGalactic VirnetX Visa Vishay VishayPrecision VistaEnergy VistaOutdoor Vistra VivintSmartHome VMware Volta Vontier VornadoRealty VoyaFinancial VulcanMatls VyGlblGrowthA

VRT VVI RBOT VSCO VNCE VIPS SPCE VHC V VSH VPG VIST VSTO VST VVNT VMW VLTA VNT VNO VOYA VMC VYGG

.1 ... ... ... ... ... ... ... .7 2.2 ... ... ... 3.0 ... ... ... .4 7.1 1.3 1.1 ...

cc dd dd 5 dd 12 dd dd 33 8 18 11 4 27 dd 30 dd 7 47 7 32 25

10.23 27.68 3.63 35.06 7.73 11.11 6.57 1.25 205.51 17.91 28.95 7.15 30.73 23.39 3.93 117.96 1.67 23.37 29.88 60.74 145.82 9.88

+1.05 .01 +1.12 ... +0.03 ... +2.71 ... +0.33 ... +0.55 ... +0.32 ... +0.20 ... +15.50 .375 +0.12 .10 +0.53 ... –0.13 ... –0.77 ... +0.97 .177 –0.04 ... +1.74 ... +0.02 ... +0.48 .025 +1.44 .53 +2.78 .20 +1.17 .40 –0.01 ...

2.64 86.84 123.01 67.07 73.02 47.51 12.23 77.61 88.20 7.28 117.27 9.66 9.63 12.39 15.90 9.65 21.25 113.50 138.28 0.90 288.32 220.68 233.91 116.31 9.50 43.72 3.48 5.72 41.88 50.78 22.90 36.54 76.56 93.80 64.72 275.89 68.42 1.10 17.97 15.30 78.06 38.40 13.80 4.50 32.58 36.39 1.82 145.93 978.51 7.56 38.41 15.96 45.64 46.21 23.53 9.80 101.58 43.05 5.18 58.07 16.65 14.03 26.98 60.12 19.29 9.76 46.81 39.14 62.89

W&T Offshore WEC Energy WEX WNS W.P.Carey WPP WabashNational Wabtec Walker&Dunlop Wallbox Walmart WarburgPincusI-A WarburgPincusI-B A WarbyParker WarriorMetCoal WarriorTechA WashingtonREIT WasteConnections WasteMgt Waterdrop Waters Watsco Watsco B WattsWater WaverleyCap1 A Wayfair WeaveComms Weber WebsterFin WeisMarkets Welbilt WellsFargo Welltower WescoIntl WestFraserTimber WestPharmSvcs WestAllianceBcp WstAstMtgCap WesternMidstrm WesternUnion Westlake WestRock Westwood WeWork Weyerhaeuser WheatonPrecMet WheelsUp Whirlpool WhiteMtnIns WhitestoneREIT WhitingPetrol WideOpenWest Wiley A Wiley B Williams WilliamsRowland Williams-Sonoma Winnebago Wipro Wolfspeed WolverineWwide WoodsideEnergy WooriFin Workiva WorldFuelSvcs WorldQuantumA WW Ent WorthingtonInds WyndhamHtls

WTI ... WEC 3.0 WEX ... WNS ... WPC 4.9 WPP 4.0 WNC 2.3 WAB .7 WD 2.4 WBX ... WMT 1.8 WPCA ... WPCB ... WRBY ... HCC .7 WARR ... WRE 3.1 WCN .7 WM 1.7 WDH ... WAT ... WSO 3.7 WSO.B 3.8 WTS 1.0 WAVC ... W ... WEAV ... WEBR 1.7 WBS 3.6 WMK 1.7 WBT ... WFC 2.5 WELL 2.9 WCC ... WFG 1.6 WST .2 WAL 1.9 WMC12.4 WES 8.5 WU 5.6 WLK 1.2 WRK 2.5 WHG 4.3 WE ... WY 2.1 WPM 1.6 UP ... WHR 4.2 WTM .1 WSR 4.5 WLL 1.4 WOW ... WLY 2.9 WLYB 3.0 WMB 5.7 WRAC ... WSM 2.5 WGO 1.4 WIT 1.3 WOLF ... WWW 1.9 WDS 6.1 WF 5.9 WK ... INT 2.3 WQGA ... WWE .8 WOR 2.7 WH 1.9

dd 23 59 29 31 13 76 27 12 ... 27 87 cc dd 5 26 cc 50 33 dd 29 20 19 24 dd dd dd dd 14 17 52 8 cc 11 3 33 8 dd 9 7 5 14 19 dd 10 23 dd 6 dd 33 7 2 18 18 25 dd 8 4 18 dd 45 10 3 dd 16 15 26 6 20

4.61 97.16 161.87 75.08 85.78 49.83 13.96 85.05 99.15 10.44 123.72 9.78 9.80 13.81 32.15 9.93 21.71 122.73 150.31 1.28 328.58 240.30 233.91 124.05 9.66 59.35 3.92 9.56 44.88 74.68 23.86 40.76 83.36 113.58 75.72 301.18 74.45 1.29 23.55 16.69 99.60 40.64 13.91 6.19 34.33 38.20 2.34 166.35 1277.96 10.76 71.03 17.24 47.62 46.21 30.05 10.00 126.09 51.27 5.49 71.40 21.05 21.32 30.87 72.10 20.76 9.90 60.62 46.39 68.77

–1.06 ... +6.79.7275 +10.91 ... +4.76 ... +2.831.059 +0.461.1467 +0.31 .08 +1.77 .15 +9.15 .60 +2.00 ... +5.43 .56 ... ... +0.01 ... +0.24 ... –1.62 .50 ... ... –0.16 .17 +7.93 .23 +9.66 .65 –0.21 ... +17.75 ... +13.16 2.20 –0.59 2.20 +7.02 .30 –0.03 ... +13.55 ... –0.04 ... +1.71 .04 +1.85 .40 +2.98 .32 +0.07 ... +2.28 .25 +5.71 .61 +6.97 ... –2.34 .30 +18.36 .18 +4.64 .35 +0.05 .04 +0.33 .50 +0.94 .235 +0.23.2975 –0.46 .25 –0.35 .15 +0.84 ... +1.34 .18 –0.21 .15 –0.26 ... +15.10 1.75 +61.88 1.00 +0.21 .04 –4.68 .25 +0.67 ... +0.87.3475 –1.67.3475 +0.31 .425 ... ... +7.23 .78 +6.07 .18 +0.28.0585 +10.83 ... +1.80 .10 –0.09 1.05 –0.751.8358 +7.83 ... –0.08 .12 ... ... –1.89 .12 +5.98 .31 +1.83 .32

1.84 1.10 45.25 13.18 0.54 18.01 9.87 72.08 38.77 3.15 3.10 3.70 0.39 26.42 4.26 1.56 4.31 108.37 33.55 33.71 19.72 54.16 1.91 4.79 1.86 1.23 101.22 14.90 154.18 8.25 23.14 4.56

XFinancial XL Fleet XPO Logistics XeniaHotels XinyuanRealEst XPeng XponentialFit Xylem Yeti YPF Yalla YamanaGold YatsenHolding Yelp Yext YirenDigital Youdao YumBrands YumChina ZimIntShipping ZTO Express Zendesk ZeppHealth ZetaGlobal ZeviaPBC Zhihu ZimmerBiomet ZipRecruiter Zoetis Zuora ZurnWaterSolns Zymeworks

XYF ... XL ... XPO ... XHR ... XIN ... XPEV ... XPOF ... XYL 1.5 YETI ... YPF ... YALA ... AUY 2.4 YSG ... YELP ... YEXT ... YRD ... DAO ... YUM 2.0 YUMC 1.1 ZIM 64.3 ZTO .0 ZEN ... ZEPP .0 ZETA ... ZVIA ... ZH ... ZBH .9 ZIP ... ZTS .7 ZUO ... ZWS .4 ZYME ...

1 dd 8 dd ... dd dd 34 21 5 9 31 dd 52 dd 7 dd 21 22 1 27 dd 10 dd dd dd cc dd 40 dd 20 dd

2.78 1.42 50.18 14.87 .80 35.29 12.48 79.61 48.46 3.22 4.26 4.92 1.10 30.33 5.69 1.82 5.36 114.42 43.84 46.35 26.75 74.17 2.03 5.56 3.00 2.05 108.87 15.74 174.61 10.11 26.94 6.30

+0.18 ... +0.21 ... +3.93 ... +0.49 ... +0.03 ... +7.12 ... –0.31 ... +6.70 .30 +6.63 ... –0.20 ... +0.40 ... –0.26 .03 +0.32 ... +1.86 ... +0.50 ... +0.16 ... –0.70 ... +4.92 .57 +3.39 .12 –4.06 2.85 +2.76 .25 +18.30 ... +0.11 .08 +0.30 ... +0.41 ... +0.26 ... +6.22 .24 –1.30 ... +15.78 .325 +1.24 ... +0.43 .03 +0.20 ...

Name

Tick Sym Yld P/E

W 9.01 108.39 208.38 91.48 86.51 83.70 21.63 100.05 156.77 27.50 160.77 10.79 10.00 60.30 42.95 9.95 26.79 145.62 170.18 6.86 428.22 318.98 314.00 212.00 10.00 328.21 22.40 20.44 65.00 86.76 25.18 60.30 99.43 144.43 102.61 475.35 124.93 3.54 29.50 23.68 141.19 54.78 27.01 14.97 43.04 51.91 15.00 245.44 1291.50 13.66 101.74 23.93 60.79 64.00 37.97 10.12 223.32 80.30 9.96 142.33 38.07 25.87 39.71 173.24 35.91 10.20 68.73 65.60 93.86

XYZ 17.88 9.10 90.78 20.41 2.77 56.45 26.90 138.78 108.82 5.86 21.00 6.40 10.24 43.28 14.89 6.60 25.61 139.85 67.05 91.23 34.82 153.43 12.80 13.46 17.50 13.85 157.73 32.90 249.27 23.25 38.32 39.41

BARRON’S

NASDAQ ISSUES -

D ATA

NEW HIGHS

52-Week High Low

Five-Day Nasdaq Composite Wading Back In: Intel paused plans for an Ohio chip factory, uncertain how much Congress will chip in. The Nasdaq Composite Index finished Friday at 11,608—jumping 7.5% for the four-day week. Monday

Tuesday

Wednesday

Thursday

Friday 11,680

H O L I D A Y

11,435 11,190 10,945 +270.95

(Previous Fri)

10 12 2 52-Week High Low

A 83.79 28.06 38.56 12.61 39.71 25.97 2.32 25.50 17.33 9.96 2.80 10.69 81.19 68.00 64.90 44.60 60.23 413.89 23.58 51.95 19.93 895.93 9.88 0.13 15.48 4.75 20.45 48.25 7.55 11.00 11.53 24.00 22.63 379.30 31.53 14.54 7.54 51.08 76.69 55.47 9.87 5.93 1.55 11.40 19.97 6.36 96.15 26.98 17.83 20.98 78.82 6.86 43.40 108.11 21.17 699.54 24.76 8.19 114.73 164.46 11.75 3.86 8.50 23.33 19.26 29.43 114.11 10.15 8.31 8.69 176.65 27.90 59.60 58.61 43.88 2.44 10.01 43.05 34.54 212.58 18.48 123.25 4.33 28.57 15.26 21.84 22.39

47.50 12.24 23.63 2.06 11.23 6.67 1.01 14.90 9.99 9.77 0.96 9.47 5.82 27.36 44.06 21.10 22.31 225.92 7.43 15.55 14.39 461.85 9.81 0.09 4.84 0.88 2.95 32.07 3.06 0.74 4.97 12.54 5.42 219.85 2.93 6.79 3.30 25.10 50.07 4.61 9.69 1.70 0.16 1.84 9.26 0.28 56.40 3.02 0.48 1.60 2.41 1.26 5.96 68.57 6.25 338.00 16.30 4.50 68.65 79.43 3.71 0.80 0.58 5.26 4.81 7.74 52.03 9.95 1.17 2.23 13.64 9.53 31.49 16.75 5.31 1.54 9.76 14.35 21.42 92.09 5.81 86.99 0.30 7.52 2.32 8.02 0.75

-16.22

+179.11

+375.43

10,700 4

10 12 2

Name

AAON AcadiaPharm ACI Worldwide AC Immune ACM Research ACV Auctions ADMA Biologics AFC Gamma AGNC Invt AIBAcqnA ALJ Regional ALSPOrchidI A AlxOncology AMC Networks Amerisafe A-MarkPrecMet ANI Pham Ansys AN2 Therap APA ARKRestaurants ASML ASPACIIAcqn ASPACIIAcqnRt AST Space ATA Creativity ATAI Life ATN Intl AveoPharma AVROBIO AXT Abcam AbCelleraBio Abiomed Absci AbsoluteSftwr AcaciaResearch AcademySports AcadiaHealthcare Accolade AccretionAcqn Accuray AcelRxPharm AchillesTherap AclarisTherap AcordaTherap ActivisionBliz AcumenPharm AcutusMedical Adagene AdagioTherap AdaptimmuneTher AdaptiveBiotech AddusHomeCare AdicetBio Adobe Adtran AdvEmissions AdvEnergyInds AdvMicroDevices AdvantageSolns AdverumBiotech AegleaBioTherap Aemetis AeriePharm AerovateTherap AeroVironment AestherHlthcrA AestheticMed Affimed AffirmHldgs Afya Agilysys AgiosPharm Agora AgroFresh AhrenAcqnA AirT AirTransport Airbnb AirSculptTech AkamaiTech AkebiaTherap AkeroTherap Akouos Akoya AksoHealth

Tick Sym Yld P/E

AAON .7 ACAD ... ACIW ... ACIU ... ACMR ... ACVA ... ADMA ... AFCG 12.1 AGNC12.4 AIB ... ALJJ ... ALOR ... ALXO ... AMCX ... AMSF 2.4 AMRK .0 ANIP ... ANSS ... ANTX ... APA 1.4 ARKR 2.8 ASML 1.0 ASCB ... ASCBR ... ASTS ... AACG ... ATAI ... ATNI 1.4 AVEO ... AVRO ... AXTI ... ABCM ... ABCL ... ABMD ... ABSI ... ABST 2.9 ACTG ... ASO .8 ACHC ... ACCD ... ENER ... ARAY ... ACRX ... ACHL ... ACRS ... ACOR ... ATVI .6 ABOS ... AFIB ... ADAG ... ADGI ... ADAP ... ADPT ... ADUS ... ACET ... ADBE ... ADTN 1.9 ADES ... AEIS .5 AMD ... ADV ... ADVM ... AGLE ... AMTX ... AERI ... AVTE ... AVAV ... AEHA ... AIH ... AFMD ... AFRM ... AFYA ... AGYS ... AGIO ... API ... AGFS ... AHRN ... AIRT ... ATSG ... ABNB ... AIRS ... AKAM ... AKBA ... AKRO ... AKUS ... AKYA ... AHG ...

47 dd 22 dd 11 dd dd 10 dd ... dd ... dd 5 16 6 dd 50 ... 5 5 34 ... ... dd dd dd dd dd dd 19 cc 16 86 dd dd 2 6 26 dd dd dd dd dd dd dd 25 dd dd ... dd dd dd 31 dd 38 dd 2 21 32 21 dd dd dd dd dd dd ... ... dd dd 20 cc dd dd dd ... 53 11 89 ... 25 dd dd dd dd dd

10 12 2

Last

53.22 14.98 27.34 3.23 15.40 6.96 1.94 16.83 11.60 9.91 1.90 9.95 8.00 30.78 51.25 33.50 28.91 256.95 8.75 36.45 17.80 515.26 9.84 .10 6.71 1.08 3.79 47.31 6.58 .98 6.19 14.88 10.65 255.32 3.97 8.62 5.02 38.63 70.37 8.24 9.83 2.06 .18 2.59 14.42 .52 77.94 3.75 .54 2.00 3.36 1.62 8.75 86.18 13.63 387.72 18.47 4.67 73.94 87.08 4.35 1.06 .58 6.10 7.56 16.55 82.80 10.15 1.88 2.71 23.28 10.18 43.37 22.57 7.28 1.69 9.93 16.88 30.26 103.51 6.76 94.46 .37 10.39 3.97 11.19 1.10

Div Chg. Amt.

+2.26 .19 –4.53 ... +2.14 ... +0.63 ... +1.48 ... –0.29 ... –0.26 ... +0.93 .56 +1.19 .12 –0.02 ... –0.11 ... –0.01 ... +1.53 ... +2.57 ... +2.74 .31 +2.44 1.00 +4.53 ... +24.35 ... +0.24 ... –2.77 .125 +1.80 .125 +41.912.0843 –0.01 ... ... ... +0.32 ... +0.06 ... +0.54 ... +4.56 .17 +2.08 ... +0.03 ... +0.58 ... +0.67 ... +0.53 ... +25.53 ... +0.49 ... +0.73.0618 +0.63 ... +4.28 .075 +5.47 ... +2.51 ... –0.01 ... +0.27 ... –0.03 ... +0.20 ... –1.19 ... –0.11 ... +3.23 .47 +0.45 ... +0.05 ... ... ... +0.64 ... –0.16 ... +1.43 ... +8.37 ... +1.91 ... +26.93 ... +0.74 .09 ... ... +3.75 .10 +5.51 ... +0.35 ... +0.06 ... –0.07 ... +0.63 ... +1.09 ... +4.37 ... –0.72 ... +0.02 ... +0.31 ... +0.23 ... +4.98 ... +0.44 ... +3.64 ... +4.60 ... +0.73 ... +0.11 ... –0.02 ... +0.19 ... +1.62 ... +4.02 ... +0.78 ... +4.93 ... +0.02 ... –1.77 ... +0.36 ... +1.84 ... –0.03 ...

Nasdaq Issues includes stocks traded on the Nasdaq Global Select and Nasdaq Global Market tiers. They are eligible for inclusion on the basis of SEC-approved market value of publicly-held shares, trading volume, price and number of market-makers.

10 12 2 52-Week High Low

94.45 2.94 43.32 13.65 43.65 737.45 25.69 28.39 9.79 38.63 33.00 112.87 18.20 32.44 46.00 215.48 38.28 21.24 65.37 44.70 27.86 20.34 26.41 23.25 212.00 69.99 9.94 0.33 30.89 3030.93 3042.00 16.47 14.40 0.30 82.96 10.78 17.26 14.58 66.67 14.04 21.94 5.97 188.65 227.59 88.18 276.21 36.72 769.90 21.33 22.48 104.81 40.34 36.62 29.95 33.27 19.43 84.86 165.50 56.64 4.52 258.45 12.63 29.50 44.46 13.45 15.78 33.41 17.42 191.95 37.89 31.50 59.00 33.13 14.92 32.00 15.56 45.81 24.38 10.00 73.00 50.45 10.39 14.10 148.87 16.93 149.82 182.94 34.20 4.25 167.06 47.97 9.25 25.00 116.09 5.89 3.76 3.34

54.99 0.41 7.50 7.75 31.90 225.86 6.14 1.03 3.94 9.23 21.24 2.54 1.10 3.71 34.30 110.44 20.08 6.62 54.20 21.14 6.43 4.60 3.17 13.05 117.58 23.66 9.77 0.10 5.80 2037.69 2044.16 6.16 6.00 0.05 48.50 3.85 3.83 7.00 32.18 8.46 13.48 1.11 101.26 64.69 68.33 101.61 20.23 447.92 16.53 11.93 80.22 29.00 9.16 12.82 15.02 4.23 40.70 72.50 39.59 3.68 198.64 5.91 16.26 17.56 5.61 6.99 6.51 1.47 141.69 18.20 7.13 25.20 5.57 3.47 17.56 1.08 19.95 2.06 6.97 27.50 33.88 3.52 10.01 79.92 2.40 38.78 129.04 0.95 0.58 87.62 2.67 1.81 0.74 27.04 0.62 0.36 0.86

10 12 2

Name

Alarm.com AlaunosTherap Alector AlgomaSteel Alico AlignTech AlignmentHlthcr AligosTherap AlimeraSciences AlkamiTech Alkermes Allakos AllarityTherap Allbirds AllegianceBcshs AllegiantTravel AllegroMicro AllianceResource AlliantEnergy AlliedMotionTech AllogeneTherap Allot AlloVir AllscriptsHlthcr AlnylamPharm Alpha&Omega AlphaStarAcqn AlphaStarRt AlphaTeknova Alphabet A Alphabet C Alphatec AlpineImmune AlsetCapAcqnRt AltairEngg AltEnergyA Altimmune AltisourcePortf AltraIndlMotion Alvotech AmalgamFin Amarin Amazon.com Ambarella Amdocs Amedisys AmerantBncpA Amerco AmerFirstMultifam AmerAirlines AEP AmNtlBcsh AmOutdoorBrands AmericanPubEdu AmerSoftware AmerSupercond AmericanWoodmark AmerCarMart AmerisBancorp AmeriServFin Amgen AmicusTherap AmkorTech AmphastarPharm AmrytPharma AmtechSystems AmylyxPharm Amyris AnalogDevices AnaptysBio AnavexLifeSci Andersons Anghami Angi AngioDynamics AngionBiomed AnikaTherap Annexon AnthemisDigA ApellisPharm ApogeeEnt ApolloEnd ApolloInv AppFolio AppHarvest Appian Apple AppliedBlockchn AppliedGenetic ApplMaterials AppliedMolecular AppliedOptoelec AppliedTherap Applovin ApreaTherap Aptinyx Aptorum

Tick Sym Yld P/E

ALRM ... TCRT ... ALEC ... ASTL 2.1 ALCO 5.7 ALGN ... ALHC ... ALGS ... ALIM ... ALKT ... ALKS ... ALLK ... ALLR ... BIRD ... ABTX 1.5 ALGT ... ALGM ... ARLP 8.0 LNT 3.0 AMOT .4 ALLO ... ALLT ... ALVR ... MDRX ... ALNY ... AOSL ... ALSA ... ALSAR ... TKNO ... GOOGL ... GOOG ... ATEC ... ALPN ... ACAXR ... ALTR ... AEAE ... ALT ... ASPS ... AIMC 1.0 ALVO ... AMAL 1.6 AMRN ... AMZN ... AMBA ... DOX 1.9 AMED ... AMTB 1.3 UHAL .0 ATAX 7.8 AAL ... AEP 3.3 AMNB 3.2 AOUT ... APEI ... AMSWA 2.6 AMSC ... AMWD ... CRMT ... ABCB 1.5 ASRV 3.0 AMGN 3.2 FOLD ... AMKR 1.2 AMPH ... AMYT ... ASYS ... AMLX ... AMRS ... ADI 2.0 ANAB ... AVXL ... ANDE 2.2 ANGH ... ANGI ... ANGO ... ANGN ... ANIK ... ANNX ... ADAL ... APLS ... APOG 2.1 APEN ... AINV 11.5 APPF ... APPH ... APPN ... AAPL .6 APLD ... AGTC ... AMAT 1.1 AMTI ... AAOI ... APLT ... APP ... APRE ... APTX ... APM ...

71 dd dd 2 5 29 dd dd dd dd dd dd dd dd 10 16 34 12 21 23 dd dd dd 13 dd 2 dd ... dd 21 21 dd dd ... dd 13 dd 9 71 cc 12 dd 56 dd 19 20 9 8 8 dd 18 9 12 20 46 dd dd 8 9 9 24 dd 6 20 dd 28 ... dd 42 dd dd 12 dd dd dd dd dd dd cc dd cc dd 8 dd dd dd 23 ... dd 13 dd dd dd dd dd dd dd

Last

Div Chg. Amt.

64.06 .94 10.73 9.31 35.27 258.75 11.68 1.31 5.25 14.41 29.71 3.43 1.79 4.51 38.26 123.49 21.43 17.59 57.32 23.09 12.28 5.34 4.27 15.50 147.50 34.05 9.93 .13 8.65 2359.50 2370.76 7.00 8.70 .07 55.73 9.93 10.29 11.68 35.59 8.84 20.57 1.92 116.46 72.86 84.88 115.62 28.08 481.86 19.02 13.90 93.60 34.98 10.75 15.60 16.72 5.35 45.92 107.33 41.23 3.97 245.37 11.12 17.29 31.78 7.20 7.71 18.71 2.27 149.69 23.12 10.17 32.45 6.40 4.77 19.24 1.96 22.53 3.85 9.95 46.26 41.98 3.68 10.74 101.21 3.92 55.04 141.66 1.17 .62 97.36 3.69 1.86 .85 39.63 .80 .45 1.39

+3.35 ... +0.07 ... +2.20 ... +0.07 .05 –3.32 .50 +24.28 ... +0.31 ... +0.20 ... –0.14 ... +2.19 ... +1.68 ... +0.46 ... +0.07 ... –0.20 ... –0.27 .14 +6.49 ... +0.71 ... +0.52 .35 +2.57.4275 +0.39 .025 +1.32 ... +0.16 ... +0.49 ... +0.50 ... +10.41 ... +0.92 ... +0.01 ... ... ... +1.36 ... +216.63 ... +213.45 ... +0.47 ... –0.07 ... –0.01 ... +3.78 ... +0.01 ... +1.27 ... +0.22 ... +1.36 .09 –0.86 ... +0.55 .08 +0.09 ... +10.24 ... +5.47 ... +6.57 .395 –5.75 ... +0.70 .09 +25.15 .50 +0.99 .20 +0.96 ... +5.19 .78 +0.79 .28 +0.75 ... +1.84 ... +0.92 .11 +0.62 ... +4.19 ... +12.89 ... +1.20 .15 +0.04 .03 +10.65 1.94 +1.77 ... +0.64 .05 +0.26 ... +0.18 ... +0.22 ... +0.88 ... +0.37 ... +5.06 .76 +1.67 ... +1.70 ... –1.36 .18 +0.21 ... +0.60 ... +0.54 ... +0.58 ... +0.45 ... +0.85 ... ... ... +2.12 ... +4.48 .22 –0.03 ... +0.42 .05 +9.80 ... +0.80 ... +13.27 ... +10.10 .23 +0.09 ... –0.17 ... +7.53 .26 +0.80 ... ... ... –0.20 ... +6.13 ... ... ... +0.05 ... +0.24 ...

10.53 17.50 6.40 5.98 10.61 6.50 125.00 26.91 50.73 18.77 33.95 65.00 27.88 8.25 10.81 23.00 365.81 21.00 10.17 14.95 9.89 0.21 9.99 9.99 27.67 17.99 38.24 91.00 10.17 27.57 50.88 108.47 178.71 3.81 7.49 210.60 4.17 75.00 16.95 71.70 14.04 19.28 18.52 20.04 46.91 5.13 16.65 5.70 10.01 42.67 41.32 91.98 97.13 15.40 483.13 9.77 89.18 805.62 37.11 37.35 26.16 9.93 33.97 9.54 17.77 3.60 9.93 0.25 344.39 7.90 248.96 11.59 10.01 12.99 12.55 40.43 40.48 29.59 27.44 545.11 50.19 4.27 83.74 4.81 209.00 79.81 74.10 14.95 124.79 11.10 B 19.75 20.71 9.84 6.03 50.89 120.20 45.36 102.96 91.24 14.17 36.50 209.17 39.78 174.29 19.66 97.20 145.97 51.39 32.05 27.28 12.79 36.87 66.79 37.34 86.82 27.74 23.54 65.30 138.52 3.39 39.30 426.56 23.95 20.64 14.81 71.92 51.28 10.55 2.14 12.85 160.28 62.08 47.65 72.20 129.24 543.85 47.86 16.43

June 27, 2022

B A R R O N S .C O M / D ATA

NEW LOWS

Last

Div Chg. Amt.

9.80 3.01 0.65 0.93 9.84 1.93 52.86 6.04 36.53 3.05 13.20 11.70 13.59 0.49 9.55 17.03 249.50 3.71 9.82 4.88 9.70 0.02 9.34 9.80 5.45 1.28 30.50 26.81 9.70 6.90 36.25 34.90 61.58 0.36 0.75 122.29 1.32 36.31 1.46 53.63 2.36 9.24 11.48 4.61 5.31 0.42 2.53 2.12 9.87 31.44 28.82 30.58 61.48 5.16 159.54 1.51 32.84 585.27 28.10 19.62 11.98 9.83 8.86 1.21 2.15 0.75 9.54 0.06 163.20 1.96 192.26 1.05 9.83 2.09 3.88 24.26 20.83 10.89 5.95 65.87 35.71 2.16 33.36 1.35 82.49 38.41 19.38 1.07 61.35 4.10

APxAcqnI A ApyxMedical AquestiveTherap Aravive ArborRaphaCapBioI ArbutusBiopharma ArcBest Arcellx ArchCapital Arcimoto ArcoPlatform ArcturusTherap ArcutisBiotherap Ardelyx ArenaFortifyA AresCapital arGEN-X ArgoBlockchain ArgusCapitalA Arhaus AriszAcqnA AriszAcqnRt ArmadaAcqnI ArogoCapA ArrayTech Arrival ArrowFinancial ArrowheadPharm ArtemisStratInvt Arteris ArtesianRscs A Arvinas AscendisPharma AslanPharm AspenGroup AspenTech AssemblyBiosci AstecIndustries AstraSpace AstraZeneca AstriaTherap Astronics AstroNova AtaraBiotherap AteaPharm Athenex AthiraPharma AtlanticAmerican AtlCoastal II A AtlUnionBkshs AtlanticaSust Atlanticus AtlasAir AtlasTech Atlassian Atreca AtriCure Atrion AuburnNatlBncp AudioCodes AuraBiosciences AuraFatProjectsA AuriniaPharm AuroraCannabis AuroraInnov AuroraMobile AuroraTechA AuroraTechRt Autodesk AutolusTherap ADP AvadelPharm AvalonAcqn AveannaHealth AvePoint AviatNetworks AvidTechnology AvidityBio AvidXchange AvisBudget Avnet Aware AxcelisTechs AxcellaHealth AxonEnterprise Axonics AxsomeTherap AyalaPharm Azenta AziyoBiologics

APXI APYX AQST ARAV ARCK ABUS ARCB ACLX ACGL FUV ARCE ARCT ARQT ARDX AFAC ARCC ARGX ARBK ARGU ARHS ARIZ ARIZR AACI AOGO ARRY ARVL AROW ARWR ARTE AIP ARTNA ARVN ASND ASLN ASPU AZPN ASMB ASTE ASTR AZN ATXS ATRO ALOT ATRA AVIR ATNX ATHA AAME ACAB AUB AY ATLC AAWW ATCX TEAM BCEL ATRC ATRI AUBN AUDC AURA AFAR AUPH ACB AUR JG ATAK ATAKR ADSK AUTL ADP AVDL AVAC AVAH AVPT AVNW AVID RNA AVDX CAR AVT AWRE ACLS AXLA AXON AXNX AXSM AYLA AZTA AZYO

... ... ... ... ... ... .7 ... ... ... ... ... ... ... ... 9.3 ... ... ... ... ... ... ... ... ... ... 3.3 ... ... ... 2.3 ... ... ... ... ... ... 1.1 ... 2.1 ... ... ... ... ... ... ... .7 ... 3.3 5.4 ... ... ... ... ... ... 1.2 3.7 1.6 ... ... ... ... ... ... ... ... ... ... 1.9 ... ... ... ... ... ... ... ... ... 2.4 ... ... ... ... ... ... ... .5 ...

... dd dd dd dd dd 7 ... 10 dd dd dd dd dd 19 6 dd 6 20 17 ... ... dd dd dd dd 11 dd dd dd 26 dd dd dd dd ... dd 74 dd dd dd dd 14 dd 14 dd dd 8 ... 11 dd 5 4 dd dd dd 37 35 13 23 dd ... dd dd dd dd ... ... 87 dd 32 dd 35 dd dd 16 27 dd dd 5 8 dd 16 dd cc dd dd dd dd dd

9.98 5.95 .74 1.04 10.04 2.84 71.48 17.93 44.86 3.50 15.74 16.14 20.61 .59 10.03 18.07 364.35 4.45 9.97 5.73 9.89 .10 9.88 9.94 12.41 1.72 32.50 34.46 9.94 7.84 47.85 45.80 91.09 .49 .95 197.39 2.18 42.45 1.50 66.90 3.02 10.76 11.78 7.31 7.13 .50 2.74 2.77 9.98 33.87 32.30 36.54 63.97 5.18 205.32 1.96 40.92 646.66 28.95 22.17 13.31 9.90 11.20 1.53 2.28 1.07 9.91 .09 192.48 2.57 218.79 2.31 9.98 2.63 5.39 25.92 27.56 14.22 6.87 163.83 42.68 2.35 58.20 1.92 96.16 58.57 24.46 1.07 74.29 7.23

... ... ... ... +0.03 ... +0.11 ... –0.01 ... +0.16 ... +3.17 .12 +1.74 ... +1.46 ... +0.38 ... +2.29 ... +2.67 ... –0.54 ... +0.02 ... ... ... +0.65 .03 +14.39 ... +0.69 ... –0.02 ... +0.48 ... +0.03 ... ... ... +0.03 ... –0.01 ... –0.31 ... +0.32 ... +1.09 .27 +5.34 ... –0.01 ... +0.11 ... +2.68.2729 +7.45 ... +7.17 ... +0.10 ... +0.10 ... +8.19 ... +0.18 ... +0.43 .12 –0.13 ... +5.81 .985 +0.24 ... –0.32 ... +0.30 ... +1.44 ... +0.63 ... +0.01 ... –5.86 ... –0.14 .02 –0.03 ... +1.23 .28 +1.00 .44 +2.75 ... +1.32 ... –1.25 ... +26.77 ... +0.21 ... +4.69 ... +19.91 1.95 –1.35 .265 +1.11 .18 –0.45 ... +0.04 ... +0.57 ... +0.24 ... +0.04 ... +0.02 ... –0.01 ... +0.01 ... +24.71 ... +0.35 ... +18.51 1.04 –0.03 ... –0.01 ... –0.06 ... +0.12 ... +0.33 ... +2.10 ... +1.38 ... –0.12 ... +3.00 ... +0.86 .26 +0.19 ... +6.19 ... +0.12 ... +8.55 ... +10.31 ... +1.77 ... –0.19 ... +5.62 .10 +0.92 ...

10.36 13.03 2.60 3.00 21.62 74.29 17.08 57.38 43.91 3.95 4.87 101.62 19.23 110.15 5.75 53.77 15.00 34.79 26.57 16.90 9.30 26.78 49.10 5.41 57.76 13.16 16.47 45.71 27.77 1.25 5.95 118.18 12.38 10.58 7.63 26.32 3.66 1.64 0.19 4.72 20.50 12.08 10.39 12.71 14.93 318.07 2.01 10.21

BBQ Holdings BCB Bancorp BELLUS Health BGC Partners BJsRestaurants BOK Fin BRP Group BRP B RileyFin BTRS Backblaze Baidu BakerHughes Balchem BallardPower BancFirst Bandwidth BankOZK BankofPrinceton Bank7 BankFinancial BankwellFin Banner Baozun BarrettBus BassettFurniture BayCom BeaconRoof BeamTherap BeasleyBroadcast BedBath BeiGene BelFuse A BelFuse B Benefitfocus BentleySystems BerkeleyLights BerkshireGrey BerkshireGreyWt Berry(bry) BeyondMeat BicycleTherap Big5SportingGds BigCommerce Bilibili Bio-Techne BioAtla BioceresCrop

BBQ BCBP BLU BGCP BJRI BOKF BRP DOOO RILY BTRS BLZE BIDU BKR BCPC BLDP BANF BAND OZK BPRN BSVN BFIN BWFG BANR BZUN BBSI BSET BCML BECN BEAM BBGI BBBY BGNE BELFA BELFB BNFT BSY BLI BGRY BGRYW BRY BYND BCYC BGFV BIGC BILI TECH BCAB BIOX

... 3.9 ... 1.1 ... 2.7 ... .8 8.6 ... ... ... 2.5 .5 ... 1.5 ... 3.3 3.7 2.0 4.2 2.7 3.1 ... 1.6 3.2 1.0 ... ... ... ... ... 1.1 1.8 ... .3 ... ... ... 3.2 ... ... 8.3 ... ... .4 ... ...

5 8 dd 12 cc 10 dd 10 8 dd dd dd 87 41 dd 20 dd 9 8 9 18 8 10 dd 13 9 10 18 dd 7 dd dd 10 7 dd cc dd dd ... dd dd dd 3 dd dd 64 dd dd

11.50 16.48 8.32 3.50 24.93 77.37 24.57 65.14 46.38 5.60 5.54 151.34 28.47 126.60 6.86 94.98 21.25 37.67 27.12 23.76 9.45 30.00 55.89 11.24 75.87 17.29 20.15 50.71 42.51 1.36 7.00 177.99 21.66 16.00 8.34 35.58 5.77 1.70 .24 7.46 25.42 16.88 12.04 19.16 27.81 352.76 3.55 12.96

+0.83 ... –1.43 .16 +0.27 ... +0.29 .01 +1.84 ... +1.42 .53 +1.93 ... +2.85.1281 +1.39 1.00 +1.09 ... +0.60 ... +11.51 ... –1.50 .18 +12.01 .64 +0.66 ... +0.12 .36 +3.05 ... +1.74 .31 +0.37 .25 +0.35 .12 +0.10 .10 –2.25 .20 +1.82 .44 +0.91 ... +7.26 .30 +1.32 .14 –1.34 .05 +0.48 ... +6.74 ... +0.05 ... +0.32 ... +45.85 ... –0.20 .06 +0.72 .07 –0.14 ... +3.22 .03 +1.07 ... –0.23 ... +0.02 ... –0.96 .06 +1.70 ... +2.24 ... +0.23 .25 +3.36 ... +1.49 ... +25.61 .32 +0.94 ... +0.81 ...

Name

Tick Sym Yld P/E

52-Week High Low

19.99 14.80 372.12 94.20 16.28 22.00 464.00 9.99 6.20 10.53 19.94 9.36 12.96 86.96 135.00 4.38 14.52 9.95 0.25 10.58 10.40 0.41 28.65 21.40 28.12 15.47 10.45 9.93 21.16 7.65 117.86 19.29 2715.66 22.82 12.50 10.41 98.78 65.33 14.55 14.80 62.33 20.39 10.13 677.76 17.74 23.34 92.35 9.99 61.05 12.00 30.50 9.96 29.50 14.77 C 14.69 55.00 26.80 32.38 55.12 208.71 52.00 10.00 51.21 115.99 10.98 4.57 197.00 256.94 28.59 49.52 38.92 116.71 169.76 65.95 11.94 145.50 38.63 25.22 14.95 10.76 192.70 119.81 15.03 59.95 13.60 65.11 24.00 49.80 33.19 17.43 5.42 51.56 52.16 49.60 11.19 48.35 14.78 10.10 13.35 25.59 13.25 32.92 28.16 29.00 19.65 28.41 10.50 12.79 22.74 18.93 44.57 134.91 9.39 96.88 14.29 50.03 32.65 5.91 60.62 14.96 20.74 6.29 17.99 10.05 9.53 9.95 92.75 216.40 46.26 78.92 48.88 327.24 7.72 13.24 16.45 5.51 25.98 11.95

Last

Div Chg. Amt.

7.61 1.25 187.16 70.73 2.84 5.70 117.08 9.78 0.56 3.25 7.31 1.28 1.46 48.52 49.66 3.43 11.76 9.61 0.09 4.09 9.70 0.04 15.89 14.51 9.80 11.08 9.80 9.84 2.87 1.08 43.46 1.39 1795.01 11.10 2.30 4.35 27.09 4.98 10.26 6.34 38.82 3.60 9.82 455.71 13.04 0.46 55.80 9.80 15.41 2.79 1.74 9.80 20.19 1.61

BioCryst Biodesix Biogen BioMarinPharm BiomeaFusion Bionomics BioNTech BioPlusAcqnA BioraTherap Biote Bioventus Bitfarms BlackDiamond Blackbaud BlackLine BlackRockCapInvt BlkRkTCPCap bleuacaciaA bleuacaciaRt BlockchainCoinIA BlockchainMoonA BlockchainMoonRt BloominBrands Blucora BlueBird BlueFoundryBncp BlueOceanA BlueWorldA bluebirdbio BlueCity BlueprintMed BoltBiotherap BookingHldgs BowmanConsult BraggGaming Brainsway Braze BridgeBioPharma BridgfordFoods Brightcove BrighthouseFin BrilliantEarthA BroadCapital Broadcom BrooklineBcp BrooklynImmuno Bruker BullpenParlayA Bumble BurgerFiIntl BurningRockBio BurTechAcqnA BusFirstBcshs BuzzFeed

BCRX ... BDSX ... BIIB ... BMRN ... BMEA ... BNOX ... BNTX .0 BIOS ... BIOR ... BTMD ... BVS ... BITF ... BDTX ... BLKB ... BL ... BKCC11.0 TCPC 9.6 BLEU ... BLEUR ... BCSA ... BMAQ ... BMAQR ... BLMN .0 BCOR ... BLBD ... BLFY ... BOCN ... BWAQ ... BLUE ... BLCT ... BPMC ... BOLT ... BKNG ... BWMN ... BRAG ... BWAY ... BRZE ... BBIO ... BRID ... BCOV ... BHF ... BRLT ... BRAC ... AVGO 3.2 BRKL 3.9 BTX ... BRKR .3 BPAC ... BMBL ... BFI ... BNR ... BRKH ... BFST 2.3 BZFD ...

dd dd 22 cc dd dd 2 dd dd 8 dd 8 dd dd dd 7 6 ... ... cc dd ... 9 66 dd dd 30 ... dd dd dd dd cc cc dd dd ... dd dd dd 3 5 dd 25 9 dd 35 ... dd dd dd ... 9 dd

10.76 1.35 211.93 86.85 11.95 6.55 134.04 9.93 .69 3.42 8.15 1.50 2.27 59.88 75.19 3.62 12.45 9.75 .13 9.93 9.90 .05 18.06 18.44 10.58 12.69 9.91 9.90 4.40 1.47 60.15 2.02 1931.05 12.50 5.39 5.15 39.89 9.24 12.75 6.90 42.17 5.24 9.90 509.09 13.32 .57 64.18 9.91 31.98 3.28 2.38 9.95 21.25 1.76

+1.14 ... –0.11 ... +10.19 ... +10.77 ... +3.20 ... +0.05 ... +8.901.5342 –0.03 ... +0.08 ... –1.02 ... –0.98 ... +0.17 ... +0.26 ... +4.81 ... +7.46 ... +0.12 .10 +0.40 .30 –0.12 ... ... ... –0.04 ... +0.01 ... –0.02 ... +1.39 .14 +1.39 ... +0.15 ... +1.07 ... –0.01 ... ... ... +0.84 ... +0.13 ... +11.52 ... +0.23 ... +24.18 ... +0.35 ... +0.33 ... +0.65 ... +6.71 ... +1.59 ... –0.43 ... +0.54 ... +1.54 ... +0.54 ... –0.02 ... +10.44 4.10 +0.17 .13 +0.09 ... +4.90 .05 –0.01 ... +4.05 ... ... ... +0.41 ... +0.03 ... –0.09 .12 +0.07 ...

1.66 45.01 20.49 24.72 38.53 154.13 31.08 9.80 4.84 84.67 9.75 1.50 119.19 185.79 22.08 6.54 10.18 78.35 42.51 44.22 6.61 96.03 28.44 18.72 0.90 9.81 132.32 37.03 8.20 33.85 4.70 28.76 16.98 2.31 12.55 5.40 0.27 12.40 41.48 23.16 2.56 22.15 3.02 9.78 2.20 3.24 4.28 14.00 19.01 22.02 10.60 17.79 9.80 9.20 18.92 7.40 13.41 21.22 3.25 19.35 3.53 20.15 4.89 0.43 31.22 12.14 5.90 1.28 10.02 9.80 3.39 9.63 62.47 170.82 31.85 15.58 35.51 179.47 4.09 4.10 2.30 1.51 2.89 1.83

Cadiz C&F Fin CB FinSvcs CBTX CDK Global CDW CEVA CFAcqnVII A C4 Therap CH Robinson CIIGCapPtrsII CLPS CMC Materials CME Group CNB FinPA CompassPath CPI Card CRA Intl CRISPR Therap CSG Systems CSP CSW Industrials CSX CVB Fin CabalettaBio CactusAcqn1 A CadenceDesign CaesarsEnt Caesarstone Cal-MaineFoods CalAmp CalavoGrowers CaliforniaBncp CalitheraBiosci CalliditasTherap CalumetSpecialty Calyxt CambiumNtwks CamdenNational Camtek Canaan CanadianSolar CandelTherap Canna-GlobalA Canoo CanopyGrowth Cantaloupe CanterburyPark CapitalBancorp CapitalCityBank CapitalProduct CapitalSouthwest CapitalworksEMA CapitolFedFin CapStarFin CaraTherap CardiovascularSys Cardlytics Carecloud CareDx CareMax CarGurus CaribouBio CarLotz Carlyle CarlyleSecured CarParts.com CarrolsRestr CarterBkshrs CarticaAcqnA CasaSystems CascadiaAcqnA CasellaWaste CaseysGenStores CassInfoSys CastleBiosci CathayGenBncp CavcoIndustries CECO Env CellebriteDI Cellectis CelyadOncology CentessaPharm Centogene

CDZI ... CFFI 3.5 CBFV 4.4 CBTX 1.9 CDK 1.1 CDW 1.2 CEVA ... CFFS ... CCCC ... CHRW 2.1 CIIG ... CLPS ... CCMP 1.0 CME 1.9 CCNE 2.8 CMPS ... PMTS ... CRAI 1.4 CRSP ... CSGS 1.8 CSPI ... CSWI .7 CSX 1.4 CVBF 3.1 CABA ... CCTS ... CDNS ... CZR ... CSTE 4.3 CALM 1.0 CAMP ... CVGW 2.7 CALB ... CALA ... CALT ... CLMT ... CLXT ... CMBM ... CAC 3.6 CAMT ... CAN ... CSIQ ... CADL ... CNGL ... GOEV ... CGC ... CTLP ... CPHC 1.2 CBNK .9 CCBG 2.3 CPLP 3.9 CSWC10.0 CMCA ... CFFN 3.6 CSTR 2.0 CARA ... CSII ... CDLX ... MTBC ... CDNA ... CMAX ... CARG ... CRBU ... LOTZ ... CG 3.8 CGBD 9.8 PRTS ... TAST .0 CARE ... CITE ... CASA ... CCAI ... CWST ... CASY .8 CASS 3.2 CSTL ... CATY 3.4 CVCO ... CECE ... CLBT ... CLLS ... CYAD ... CNTA ... CNTG ...

dd 6 10 18 26 23 cc ... dd 15 dd 4 47 27 8 dd 10 16 19 33 dd 25 17 18 dd dd 59 dd 30 cc dd dd 11 dd dd dd dd 28 10 18 2 27 dd dd dd dd cc 9 7 15 3 10 ... 16 9 dd dd dd dd dd dd dd dd dd 5 5 dd dd 11 ... dd 43 91 21 17 dd 10 9 70 18 dd dd dd dd

2.52 45.88 22.04 27.19 54.66 164.34 34.45 9.90 7.07 103.86 9.88 1.65 179.62 210.00 24.64 10.75 16.89 89.14 66.96 60.27 9.07 101.38 29.57 24.76 1.01 9.94 157.62 44.47 9.41 49.42 4.99 42.02 18.91 2.60 18.95 10.49 .30 15.50 44.13 25.95 3.52 32.38 3.50 10.00 2.23 3.77 5.76 23.00 21.52 27.91 15.41 18.76 9.98 9.43 20.32 9.39 14.97 26.92 3.68 23.68 4.83 23.65 5.86 .47 34.11 13.10 8.30 2.17 13.53 10.01 4.26 9.78 72.57 191.53 35.38 23.83 39.58 198.71 6.00 5.27 3.12 1.93 4.60 2.43

+0.60 ... –0.12 .40 +1.40 .24 –0.10 .13 +0.36 .15 +8.14 .50 +1.37 ... –0.03 ... +1.70 ... +4.86 .55 –0.91 ... ... ... +7.06 .46 +9.47 1.00 +0.60 .175 +0.82 ... +3.08 ... +7.01 .31 –3.04 ... +4.28 .265 +0.20 ... +4.20 .17 +0.64 .10 +0.63 .19 –0.02 ... ... ... +14.53 ... +4.82 ... +0.17 .10 +3.11 .125 –1.06 ... +3.14 1.15 –0.24 ... –0.10 ... +1.13 ... +0.34 ... ... ... +0.60 ... –0.32 .40 +1.59 ... +0.36 ... +1.75 ... +0.03 ... –0.02 ... –0.18 ... +0.40 ... +0.55 ... –1.15 .07 +0.05 .05 +1.52 .16 +0.09 .15 +0.64 .15 –0.03 ... +0.05 .20 +0.85 .10 +1.35 ... +1.23 ... +3.74 ... +0.31 ... +3.15 ... –0.30 ... +1.13 ... +0.31 ... –0.04 ... +1.75 .325 +0.34 .08 +0.68 ... –0.06 .41 +0.13 ... ... ... +0.62 ... +0.02 ... +6.51 ... +9.79 .38 +2.39 .28 +7.83 ... +1.42 .34 +10.96 ... +0.28 ... +0.05 ... +0.43 ... +0.11 ... –0.33 ... +0.12 ...

Name

Tick Sym Yld P/E

52-Week High Low

57.32 52.04 30.36 32.90 4.33 127.80 45.48 8.06 10.12 28.08 24.12 8.46 825.62 149.62 55.31 39.30 42.16 49.50 105.00 20.29 47.72 113.50 8.78 2.04 15.80 19.59 44.72 262.20 39.36 2.39 122.30 143.22 30.66 2.95 461.44 15.39 95.84 64.29 97.46 16.49 21.75 119.22 86.30 32.36 31.24 9.94 0.26 11.19 86.71 7.73 9.93 0.14 14.44 6.65 54.41 656.11 62.67 25.70 42.01 22.95 24.48 11.06 80.50 92.17 13.80 93.47 28.55 278.34 19.32 39.86 368.90 25.66 158.42 23.00 19.59 40.78 22.71 107.50 54.20 61.80 74.72 11.22 22.18 46.30 16.55 84.22 9.74 10.69 9.20 37.62 10.38 5.25 27.70 208.48 6.88 7.90 94.97 4.33 29.27 37.00 28.00 69.31 10.50 9.70 14.77 68.68 44.99 15.47 15.18 161.12 14.98 8.09 34.37 121.98 213.38 9.54 101.05 612.27 52.26 283.38 34.75 29.02 44.04 153.51 9.50 703.27 18.00 21.48 9.98 9.80 47.36 28.95 46.65 10.40 183.88 9.12 30.40 16.50 298.48 11.15

40.03 37.56 6.93 7.32 1.53 24.59 16.18 4.35 9.81 18.42 18.97 2.51 407.75 107.85 26.12 25.60 12.71 40.74 48.19 14.78 4.35 36.97 1.27 0.63 3.75 10.48 30.10 172.75 18.64 0.40 36.11 108.88 13.00 0.51 343.86 1.29 70.11 41.02 21.70 12.30 17.00 78.07 71.61 17.43 0.33 9.79 0.12 4.02 32.53 1.26 9.43 0.09 1.95 0.58 26.80 378.15 42.33 1.87 8.11 2.21 19.61 3.79 55.16 41.69 1.50 65.24 5.82 222.04 5.60 25.06 40.83 14.04 97.39 7.50 14.75 26.97 16.69 68.29 27.18 37.56 61.81 5.31 5.94 38.20 12.11 55.72 9.59 4.72 1.55 26.11 6.77 1.52 8.42 136.01 2.57 4.12 16.48 1.28 0.56 24.17 7.87 34.81 9.69 4.51 9.01 38.00 19.02 4.22 1.20 102.21 1.91 2.65 13.04 2.22 128.78 0.75 49.00 391.25 11.68 50.54 17.23 13.39 21.36 82.29 6.15 430.00 8.61 15.22 9.79 4.27 5.88 15.91 23.11 9.71 46.92 2.57 14.23 11.81 130.00 9.49

Name

CentralGarden CentralGardenA CenturyAluminum CenturyTherap Ceragon Cerence Certara Cerus ChainBridgeIA ChampionX ChangeHlthcr ChargeEnt CharterComms CheckPoint Cheesecake ChefsWarehouse ChemoCentryx ChemungFinl ChesapeakeEner ChicagoAtlRealEst ChickenSoupA Children'sPlace Chimerix ChinaIndex Chindata ChinookTherap ChipMOSTechs ChurchillDowns Chuy's CidaraTherap Cimpress CincinnatiFin CinCorPharma Cinedigm Cintas CipherMining CirrusLogic CiscoSystems CitiTrends CtznCmntyBcp CitizensHolding CitrixSystems CityHolding Clarus ClarusTherap CleanEarthA CleanEarthRt CleanEnerFuels Clearfield ClearsideBiomed ClimateRockA ClimateRockRt CloverHealth ClovisOncology CoastalFinl CocaColaCon Coca-ColaEuro CodexDNA Codexis CodiakBioSci CodorusValleyBncp CogentBio CogentComm Cognex CognitionTherap CognizantTech CognyteSoftware Coherent CoherusBioSci Cohu CoinbaseGlbl CollegiumPharm ColliersIntl Collplant ColonyBankcorp ColumbiaBanking ColumbiaFin ColumbiaSportswr ColumbusMcKinn Comcast A CommerceBcshrs CommVehicle CommScope CmntyTrBcp CommWestBcshs CommVaultSys CompassDigitalAcqn CompoSecure Compugen ComputerPrograms ComputerTask comScore ComtechTel Concentrix ConcertPharm Conduent Confluent Conifer ConnectBiopharma ConnectOneBncp Conn's ConsensusCloud Consilium I A ConsldComm ConsldWater ConstellationEner ConstructionPtrs ConsumerPtfo ContextLogic Copart CoreScientific CorMedix CorsairGaming Cortexyme Corvel CorvusPharm CoStar Costco Couchbase CoupaSoftware CovenantLogist Covetrus Cowen CrackerBarrel CreativeMedia CreditAcceptance CredoTech CrescentCapBDC CresceraCapA Cresud Cricut CrineticsPharm Criteo CrixusBH3 A Crocs Cronos CrossCtyHlthcr CrossFirstBkshs CrowdStrike Crypto1Acqn

Tick Sym Yld P/E

CENT ... CENTA ... CENX ... IPSC ... CRNT ... CRNC ... CERT ... CERS ... CBRG ... CHX 1.5 CHNG ... CRGE ... CHTR ... CHKP ... CAKE 3.8 CHEF ... CCXI ... CHMG 2.9 CHK 2.4 REFI 12.0 CSSE ... PLCE ... CMRX ... CIH ... CD ... KDNY ... IMOS 11.2 CHDN .3 CHUY ... CDTX ... CMPR ... CINF 2.4 CINC ... CIDM ... CTAS 1.0 CIFR ... CRUS ... CSCO 3.4 CTRN ... CZWI 2.0 CIZN 5.4 CTXS 1.5 CHCO 3.0 CLAR .5 CRXT ... CLIN ... CLINR ... CLNE ... CLFD ... CLSD ... CLRC ... CLRCR ... CLOV ... CLVS ... CCB ... COKE .2 CCEP 4.2 DNAY ... CDXS ... CDAK ... CVLY 2.7 COGT ... CCOI 5.4 CGNX .6 CGTX ... CTSH 1.5 CGNT ... COHR ... CHRS ... COHU ... COIN ... COLL ... CIGI .3 CLGN ... CBAN 2.9 COLB 4.1 CLBK ... COLM 1.6 CMCO .9 CMCSA 2.7 CBSH 1.6 CVGI ... COMM ... CTBI 3.9 CWBC 2.2 CVLT ... CDAQ ... CMPO ... CGEN ... CPSI ... CTG ... SCOR ... CMTL 4.1 CNXC .7 CNCE ... CNDT ... CFLT ... CNFR ... CNTB ... CNOB 2.5 CONN ... CCSI ... CSLM ... CNSL ... CWCO 2.4 CEG 1.0 ROAD ... CPSS ... WISH ... CPRT ... CORZ ... CRMD ... CRSR ... CRTX ... CRVL ... CRVS ... CSGP ... COST .7 BASE ... COUP ... CVLG 1.0 CVET ... COWN 1.9 CBRL 5.8 CMCT 4.6 CACC ... CRDO ... CCAP10.6 CREC ... CRESY ... CRCT ... CRNX ... CRTO ... BHAC ... CROX ... CRON ... CCRN ... CFB ... CRWD ... DAOOU ...

16 15 dd dd dd 35 dd dd 39 28 dd dd 17 20 19 cc dd 8 dd 16 dd 4 dd ... 53 dd 6 31 14 dd dd 9 ... dd 34 dd 13 15 4 7 13 44 14 30 dd ... ... dd 27 dd ... ... dd dd 18 23 21 dd dd dd 15 dd 96 29 dd 17 dd 58 dd 9 6 21 dd dd 10 10 25 14 30 13 16 9 dd 9 9 93 ... 8 dd 21 9 dd dd 18 dd 9 dd 23 dd 8 4 9 ... dd cc ... 81 4 dd 25 dd dd 30 dd 40 dd 80 38 dd dd 6 dd 5 16 dd 8 dd 6 ... 2 13 dd 12 22 5 dd 4 9 dd ...

Last

Div Chg. Amt.

43.85 40.61 8.02 9.08 2.21 28.41 22.54 5.55 10.12 19.48 23.66 5.46 463.12 124.10 28.76 38.90 26.15 43.25 83.80 15.68 7.79 43.89 2.06 .77 8.01 18.05 31.47 198.83 20.97 .52 41.80 116.50 19.03 .65 379.18 1.57 72.64 44.10 25.12 13.29 17.85 96.59 80.18 19.96 .39 9.88 .19 5.05 65.36 1.65 9.93 .10 2.23 1.70 39.33 551.82 53.02 2.13 11.44 3.89 22.00 9.30 62.00 45.38 1.84 70.26 6.69 267.56 7.50 27.82 62.71 18.30 109.38 8.39 14.75 29.19 22.13 76.81 30.69 39.57 66.13 5.49 6.86 40.53 13.90 65.99 9.64 5.78 2.09 32.27 8.79 2.04 9.73 145.30 4.31 4.46 25.28 1.65 .90 25.22 9.49 45.85 9.78 7.50 14.27 59.28 20.75 10.25 1.95 112.88 2.09 3.45 14.85 2.27 148.06 .87 62.85 484.37 18.50 65.84 25.71 20.72 25.24 89.70 7.45 505.45 12.74 15.53 9.93 5.19 6.58 19.61 24.83 9.86 53.49 3.11 19.17 13.55 184.99 9.96

+2.34 ... +2.14 ... –1.21 ... +0.51 ... +0.33 ... +2.52 ... +4.27 ... +0.90 ... +0.15 ... –2.16 .075 +0.70 ... –0.28 ... +21.16 ... +4.68 ... +0.72 .27 +6.67 ... +0.66 ... +1.01 .31 +3.52 1.84 –0.46 .47 +1.63 ... –0.17 ... +0.51 ... +0.06 ... +0.72 ... –0.60 ... –0.922.9194 +19.96 .667 +0.63 ... +0.05 ... +2.12 ... +2.53 .69 –0.47 ... +0.14 ... +31.83 .95 –0.25 ... +1.76 ... +0.71 .38 +0.87 ... –0.27 .26 –0.29 .24 +1.65 .37 +1.50 .60 +2.08 .025 +0.03 ... +0.01 ... ... ... +0.22 ... +10.34 ... +0.19 ... +0.06 ... –0.04 ... +0.01 ... +0.52 ... +2.18 ... +55.66 .25 +2.16 .59 –0.25 ... +2.39 ... +1.06 ... –0.49 .15 +0.11 ... +5.05 .88 +2.41 .065 +0.18 ... +3.76 .27 +0.78 ... +6.03 ... +1.20 ... +2.05 ... +11.49 ... +2.47 ... +7.56 .15 +0.04 ... –1.02.1075 +1.57 .30 +1.45 ... +5.43 .30 +1.87 .07 +0.86 .27 +2.25 .265 –0.01 ... –0.13 ... +1.02 .40 +0.51 .075 +5.50 ... +0.01 ... +0.47 ... +0.36 ... +2.33 ... +0.02 ... +0.13 ... +0.40 .10 +6.21 .25 +0.21 ... +0.16 ... +5.19 ... ... ... +0.14 ... –0.04 .155 +1.14 ... +3.38 ... –0.01 ... +0.86 ... +1.15 .085 +1.18 .141 +1.21 ... –0.75 ... +0.08 ... +7.93 ... –0.24 ... +0.63 ... +1.01 ... –0.21 ... +12.16 ... –0.18 ... +6.79 ... +37.68 .90 +2.86 ... +12.35 ... +3.75.0625 +0.12 ... +2.17 .12 +4.48 1.30 +0.21 .085 +35.66 ... +0.22 ... –0.09 .05 ... ... +0.13 ... +0.30 ... +1.32 ... +0.25 ... +0.01 ... +6.28 ... +0.35 ... +0.08 ... +0.50 ... +21.09 ... +0.01 ...

June 27, 2022

NASDAQ ISSUES

D ATA 52-Week High Low

9.99 22.55 30.33 7.51 15.67 76.22 9.04 74.38 10.96 29.00 201.68 49.95 4.23 4.83 23.10 28.70 48.10 7.53 15.42 D 5.99 40.50 4.95 46.31 59.74 15.23 10.15 36.26 32.50 6.73 8.39 199.68 52.54 15.35 4.69 3.00 28.70 9.75 38.91 0.37 50.30 9.97 79.70 66.98 91.39 24.08 8.99 5.35 164.86 234.84 162.24 26.03 53.74 11.00 175.00 38.35 113.98 57.80 18.22 4.34 6.98 73.43 92.75 314.76 8.98 177.19 98.35 17.01 32.61 122.96 18.50 7.35 64.58 24.90 34.62 33.00 50.90 20.78 205.00 22.92 E 7.88 10.38 10.75 18.75 30.05 24.74 78.75 58.25 40.21 93.51 22.35 32.67 3.54 81.19 44.42 30.90 25.50 5.55 73.03 13.97 44.60 63.20 10.02 10.40 0.46 22.31 19.25 238.97 147.76 16.22 29.69 2.10 10.49 63.00 10.70 10.00 25.86 102.00 72.67 151.64 7.07 10.07 24.99 12.16 39.48 282.46 94.25 286.89 3.88 158.00 46.48 51.50 10.95 6.39 36.85 9.86 69.74

Name

BARRON’S

Tick Sym Yld P/E

Last

Div Chg. Amt.

9.75 3.70 7.30 1.89 7.66 12.90 0.70 31.62 3.30 4.60 100.35 32.32 0.46 1.67 1.56 7.38 17.72 1.51 7.51

Crypto1AcqnA CueHealth CullinanOncology CumberlandPharm CumulusMedia CureVac Curis Cutera Cvent CVRx CyberArkSoftware CyberOptics CyclerionTherap CymaBayTherap CyteirTherap CytekBiosci Cytokinetics CytomXTherap CyxteraTech

DAOO HLTH CGEM CPIX CMLS CVAC CRIS CUTR CVT CVRX CYBR CYBE CYCN CBAY CYT CTKB CYTK CTMX CYXT

... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...

dd 9 dd dd 4 ... dd dd dd dd dd 18 dd dd dd dd dd dd dd

9.92 4.24 13.39 2.10 7.82 14.62 1.03 41.11 5.32 7.02 142.80 35.12 .53 2.82 2.79 11.11 47.25 1.90 13.04

+0.03 –0.41 +1.19 +0.16 –0.53 +0.35 ... +3.06 –0.05 +1.40 +17.17 –1.83 +0.06 +0.85 +0.72 +1.18 +6.67 +0.30 –1.06

... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...

1.15 12.64 0.76 16.20 16.67 0.64 9.73 22.09 5.00 2.83 5.99 81.12 29.83 0.83 1.63 1.30 5.44 1.83 6.51 0.05 14.76 9.92 20.24 33.78 56.19 9.61 3.25 3.01 66.89 160.00 65.93 18.54 14.81 9.81 9.84 28.36 63.32 33.92 6.89 1.82 1.35 15.19 25.09 55.96 1.63 84.26 23.01 13.09 15.50 88.44 8.75 1.14 9.77 9.60 24.62 19.07 14.90 10.06 60.50 4.30

DBV Tech DiceTherap DIRTT Envl DISH Network DMC Global D-MarketElec DPCapAcqnIA DXP Ents DadaNexus Daktronics DallasNews Datadog Dave&Buster's Dave DAVIDsTEA DawsonGeophys DayOneBiopharm DecibelTherap DecipheraPharm DeepMedicineAcqnRt DefinitiveHlthcr DenaliCapAcqnA DenaliTherap DentsplySirona Descartes DesignTherap DestinationXL Deswell DexCom DiamondHillInvt DiamondbkEner DigiIntl Digimarc DigitalHealth DigitalWorldA DimeCommBcshs Diodes DistributionSoln Diversey DiversifiedHlthcr DixieGroup dLocal Docebo DocuSign Dogness DollarTree Domo DonegalGroup A DorchesterMnls DormanProducts DoubleDown DouYuIntl DraftKings DreamFinders DrivenBrands Dropbox DuckCreekTech DuluthHoldings Duolingo DyneTherap

DBVT ... DICE ... DRTT ... DISH ... BOOM ... HEPS ... DPCS ... DXPE ... DADA ... DAKT ... DALN10.3 DDOG ... PLAY ... DAVE ... DTEA ... DWSN ... DAWN ... DBTX ... DCPH ... DMAQR ... DH ... DECA ... DNLI ... XRAY 1.4 DSGX ... DSGN ... DXLG ... DSWL 6.1 DXCM ... DHIL 3.4 FANG 3.8 DGII ... DMRC ... DHAC ... DWAC ... DCOM 3.2 DIOD ... DSGR ... DSEY ... DHC 2.0 DXYN ... DLO ... DCBO ... DOCU ... DOGZ ... DLTR ... DOMO ... DGICA 3.9 DMLP 7.8 DORM ... DDI ... DOYU ... DKNG ... DFH ... DRVN ... DBX ... DCT ... DLTH ... DUOL ... DYN ...

dd dd dd 5 dd dd dd 20 dd cc dd cc 11 dd 1 dd dd dd dd ... dd ... dd 22 62 dd 4 5 cc 8 8 73 dd ... dd 8 12 34 dd 1 8 cc dd dd 41 24 dd 19 10 25 6 dd dd 7 78 24 dd 13 dd dd

2.50 15.70 1.00 18.85 18.87 .72 9.99 29.86 8.84 3.10 6.24 107.48 35.73 .92 1.82 1.30 17.78 2.49 13.73 .10 24.13 9.96 30.93 36.76 65.66 15.25 3.67 3.30 77.67 176.30 119.70 24.12 16.49 10.07 27.82 30.07 66.40 54.10 7.70 1.98 1.42 30.73 32.67 68.75 2.27 157.21 33.24 16.89 24.78 104.71 9.98 1.22 14.15 10.45 29.36 22.62 18.84 10.81 101.73 6.83

+0.25 ... +1.44 ... +0.03 ... +1.74 ... +1.35 ... +0.04 ... –0.04 ... +1.71 ... +1.18 ... +0.11 ... +0.07 .16 +21.85 ... +1.60 ... –0.07 ... +0.01 ... –0.21 ... +1.99 ... +0.19 ... +1.99 ... +0.03 ... +4.58 ... ... ... +7.03 ... +1.43 .125 +5.75 ... +1.14 ... –0.42 ... ... .10 +8.86 ... +9.50 1.50 –2.59 2.35 +1.38 ... +1.20 ... +0.05 ... –0.17 ... +0.70 .24 +1.15 ... +0.09 ... –0.09 ... +0.13 .01 –0.05 ... +5.89 ... +6.97 ... +8.20 ... +0.08 ... +7.12 ... +7.19 ... +0.95 .165 –0.12.7539 +6.00 ... +0.23 ... ... ... +2.73 ... –0.19 ... +2.97 ... +1.97 ... +1.75 ... +0.43 ... +7.02 ... +0.89 ...

5.00 9.98 9.85 14.79 20.07 18.69 36.18 41.01 1.01 61.65 17.94 19.05 0.37 40.52 12.50 18.63 5.41 1.95 9.59 4.21 6.64 7.89 3.53 9.65 0.12 2.00 9.41 122.85 109.24 1.20 2.52 0.21 0.51 23.84 2.97 9.75 18.76 37.59 43.24 65.98 0.28 9.87 16.92 0.21 7.26 113.40 68.29 203.38 1.40 91.37 29.58 41.50 9.80 1.56 5.12 0.41 42.00

EDAP TMS EsgenAcqn EsgenAcqnA ESSA Bancorp EVO Payments EagleBncpMT EagleBulkShip EaglePharm Eargo EastWestBncp EasternBankshares Eastern EbangIntl eBay Ebix EchoStar EdgewiseTherap Edgio EditasMedicine EducDev EHang eHealth EigerBioPharma 8iAcqn2 8iAcqn2Rt 89bio ElPolloLoco ElbitSystems ElectronicArts ElevationOnc EliemTherap EloxxPharm EmbarkTech Embecta Emcore EM Horizon A Enact EnantaPharma EncoreCapital EncoreWire EndoIntl EnergemA EnergyRecovery EnjoyTech Enovix EnphaseEnergy EnsignGroup EnstarGroup EntasisTherap Entegris EnterpriseBncp EnterpriseFinSvcs Ent4.0TechAcqnA EnthusiastGaming EntradaTherap Epizyme ePlus

EDAP ... ESACU ... ESAC ... ESSA 3.7 EVOP ... EBMT 2.5 EGLE16.2 EGRX ... EAR ... EWBC 2.4 EBC 2.1 EML 2.3 EBON ... EBAY 1.9 EBIX 1.7 SATS ... EWTX ... EGIO ... EDIT ... EDUC 9.3 EH ... EHTH ... EIGR ... LAX ... LAXXR ... ETNB ... LOCO ... ESLT 1.0 EA .6 ELEV ... ELYM ... ELOX ... EMBK ... EMBC ... EMKR ... HORI ... ACT 2.6 ENTA ... ECPG ... WIRE .1 ENDP ... ENCP ... ERII ... ENJY ... ENVX ... ENPH ... ENSG .3 ESGR ... ETTX ... ENTG .4 EBTC 2.5 EFSC 2.1 ENTF ... EGLX ... TRDA ... EPZM ... PLUS ...

cc ... 23 9 cc 11 3 15 dd 11 21 18 17 dd 8 20 dd dd dd 4 dd dd dd dd ... dd 13 36 47 dd dd dd dd ... 7 ... 6 dd 4 3 dd ... 73 dd dd cc 22 dd dd 32 9 10 dd dd dd dd 14

6.83 10.05 10.03 16.42 24.25 19.66 49.28 42.38 1.25 67.08 19.12 19.05 .37 45.67 18.13 19.80 8.53 2.38 13.47 4.28 9.96 10.69 6.24 9.89 .22 3.47 10.08 205.46 130.20 1.51 3.65 .24 .57 26.87 3.45 9.91 21.30 45.01 58.93 107.58 .37 10.07 19.19 .26 10.40 198.39 75.25 210.06 2.20 103.90 32.48 42.83 9.96 2.29 9.81 .95 54.95

+0.22 ... –0.04 ... –0.01 ... –0.27 .15 +2.49 ... ... .125 –8.18 2.00 +0.21 ... +0.20 ... +4.30 .40 +0.86 .10 –1.00 .11 –0.08 ... +3.46 .22 +1.50 .075 +0.14 ... +1.90 ... +0.19 ... +2.18 ... –0.47 .10 +0.61 ... +1.53 ... +0.60 ... +0.02 ... –0.08 ... +0.28 ... +0.33 ... +11.00 .50 +1.66 .19 +0.20 ... –0.68 ... –0.03 ... –0.02 ... –1.39 ... +0.34 ... –0.02 ... –0.23 .14 +4.26 ... +1.88 ... –1.60 .02 +0.02 ... +0.05 ... +0.37 ... +0.04 ... –0.72 ... +13.64 ... +1.25 .055 +3.57 ... +0.01 ... +11.90 .10 +1.72 .205 +0.73 .22 ... ... +0.20 ... +1.25 ... +0.27 ... +2.34 ...

52-Week High Low

7.99 10.64 7.12 885.26 36.00 24.47 234.96 9.50 24.50 23.75 6.72 307.75 149.92 34.67 14.95 6.22 167.40 23.41 10.07 34.81 14.36 19.59 3.77 14.34 26.57 16.49 10.50 23.52 50.71 154.98 55.43 217.72 137.80 51.06 127.61 30.38 16.61 21.50 8.80 F 83.39 249.00 9.99 10.50 65.00 9.83 10.00 13.98 53.55 15.12 17.48 12.94 10.01 64.75 9.94 97.43 4.30 30.12 59.65 6.74 15.62 50.64 34.43 9.96 0.28 17.39 10.67 10.55 21.86 24.73 50.92 36.80 42.89 15.90 29.73 35.92 947.71 36.73 4.89 26.83 55.00 47.10 17.95 29.41 29.65 31.16 53.56 45.91 46.12 45.84 23.77 123.13 52.70 24.50 25.46 34.20 97.04 5.89 202.78 119.86 237.86 49.50 211.68 33.98 19.50 46.02 39.40 3.11 25.95 57.41 69.13 10.44 25.25 24.34 10.03 26.61 47.48 142.00 60.90 74.35 34.65 10.09 125.71 20.00 18.97 10.09 36.14 11.09 44.95 40.91 190.29 55.10 96.95 15.40 7.00 11.33 10.90 171.94 53.36

B A R R O N S .C O M / D ATA Last

Div Chg. Amt.

4.53 2.63 1.66 606.12 28.01 4.51 158.46 0.98 11.92 3.28 2.57 67.01 96.30 18.55 1.42 1.09 27.81 7.73 9.93 7.34 5.06 6.90 0.71 5.06 10.60 4.15 9.67 15.50 31.45 105.07 11.06 92.22 93.77 13.58 80.97 6.56 8.49 7.00 5.50

EpsilonEnergy EQRx Equillium Equinix EquityBcshs Erasca ErieIndemnity A ErytechPharma Escalade EsperionTherap EtonPharm Etsy EuronetWorldwide EuropeanWax EveloBiosci Ever-Glory Everbridge EverCommerce EvergreenA EverQuote EverspinTech EVgo Evogene Evolus Evotec Exagen ExcelFinAcqnA Exelixis Exelon ExlService eXpWorld Expedia ExpeditorsIntl Expensify Exponent Exscientia ExtremeNetworks EyePointPharm Ezcorp

EPSN EQRX EQ EQIX EQBK ERAS ERIE ERYP ESCA ESPR ETON ETSY EEFT EWCZ EVLO EVK EVBG EVCM EVGR EVER MRAM EVGO EVGN EOLS EVO XGN XFIN EXEL EXC EXLS EXPI EXPE EXPD EXFY EXPO EXAI EXTR EYPT EZPW

4.3 ... ... 1.8 1.1 ... 2.3 ... 4.7 ... ... ... ... .0 ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.1 ... 1.3 ... 1.3 ... 1.0 ... ... ... ...

9 dd dd cc 9 dd 34 dd 7 dd dd 28 66 cc dd dd dd dd ... dd 17 dd dd dd 13 dd dd 24 16 43 23 88 12 dd 49 ... 26 dd 22

5.79 4.91 1.70 689.17 29.89 5.93 190.96 1.13 12.87 6.47 2.96 83.62 107.70 21.15 2.07 1.42 32.46 9.78 9.95 9.48 5.57 7.68 .77 12.78 13.03 5.80 9.97 22.22 43.29 148.43 12.23 102.34 100.49 19.05 91.84 13.70 9.58 7.25 7.71

–0.18.0625 –0.27 ... –0.05 ... +56.36 3.10 –0.96 .08 +1.00 ... +18.04 1.11 +0.07 ... +0.67 .15 +0.87 ... +0.03 ... +11.51 ... +5.55 ... –0.24 3.30 +0.27 ... +0.21 ... +2.94 ... +1.57 ... –0.01 ... +1.88 ... +0.30 ... –0.50 ... –0.02 ... +1.23 ... +0.83 ... +0.83 ... –0.01 ... +3.66 ... +2.38.3375 +14.17 ... +0.63 .04 +1.97 ... +6.27 .67 +2.20 ... +9.91 .24 +0.72 ... +0.85 ... –0.65 ... +0.33 ...

28.47 147.47 1.39 9.89 53.30 9.55 9.72 2.12 1.93 4.35 1.65 4.33 0.36 48.10 9.70 17.10 0.26 7.81 34.20 0.71 5.89 33.00 25.64 9.75 0.08 1.71 9.75 9.82 10.90 12.32 33.87 26.97 27.85 12.61 21.00 25.70 598.01 26.51 3.23 19.00 37.47 37.70 14.29 20.30 16.53 21.49 28.05 32.40 35.58 35.05 14.50 59.60 41.19 16.26 11.57 24.34 58.30 1.76 112.64 87.03 110.83 15.11 80.52 21.91 14.05 17.52 4.96 1.12 19.79 14.56 30.88 9.68 4.49 8.01 9.86 4.95 32.71 82.97 42.59 47.27 16.74 9.88 80.56 5.53 12.04 9.79 5.32 1.50 31.33 28.96 69.28 32.12 68.27 0.65 3.06 6.98 1.00 51.34 10.51

FARO Tech F5 FGFinancial FG Merger FRP Holdings FTACEmeraldA FTACZeusAcqnA FTC Solar FangddNetwork Fanhua FaradayFuture FarmerBros FastRadius Fastenal FatProjectsAcqn FateTherap FedNat FibroGen FidelityD&D FieldTripHealth FiestaRestaurant FifthThirdBncp FinInstitutions FinStrategiesA FinStrategiesRt FinchTherap FinnovateAcqnA FintechEcoA FinWiseBancorp FirstAdvantage FirstBancorpNC FirstBancorp FirstBancshares FirstBank FirstBusey FirstBusFinSvcs FirstCitizBcshA FstCmntyBcsh FirstEagleAltCap FirstFinBncpOH FirstFinBkshs FirstFinIN FirstFinNW FirstFoundation FirstGuarBcshs FirstHawaiian FirstInternetBncp FirstInterBanc FirstMerchants FirstMidBcshs FirstNWBncp FirstSolar 1stSource FirstUnited FirstWatchRest FirstWesternFin FirstCash FirsthandTechVal FirstService Fiserv FiveBelow 5EAdvMatls Five9 FiveStarBncp Flex Flexsteel FluenceEnergy Fluent FlushingFin Flywire FocusFinPtrs FocusImpact FocusUniversal FoghornTherap ForbionEuroA FormaTherap FormFactor FormulaSys ForresterRes Fortinet FortressTransport FortuneRiseA ForwardAir Fossil FosterLB FounderSpacA 4D Molecular 4Dpharma FoxA FoxB FoxFactory Franchise FranklinElec FreelineTherap FreightCarAmer FrequencyElec FrequencyTherap Freshpet FreshworksA

FARO ... FFIV ... FGF ... FGMC ... FRPH ... EMLD ... ZING ... FTCI ... DUO ... FANH11.4 FFIE ... FARM ... FSRD ... FAST 2.4 FATP ... FATE ... FNHC ... FGEN ... FDBC 3.3 FTRP ... FRGI ... FITB 3.4 FISI 4.1 FXCO ... FXCOR ... FNCH ... FNVT ... FEXD ... FINW ... FA ... FBNC 2.5 FNLC 4.2 FBMS 2.4 FRBA 1.7 BUSE 4.0 FBIZ 2.6 FCNCA .3 FCBC 3.7 FCRD 11.8 FFBC 4.7 FFIN 1.7 THFF 2.4 FFNW 3.1 FFWM 2.1 FGBI 2.7 FHB 4.5 INBK .6 FIBK 4.3 FRME 3.5 FMBH 2.5 FNWB 1.9 FSLR ... SRCE 2.7 FUNC 3.4 FWRG ... MYFW ... FCFS 1.7 SVVC ... FSV .7 FISV ... FIVE ... FEAM ... FIVN ... FSBC 2.2 FLEX ... FLXS 2.8 FLNC ... FLNT ... FFIC 4.1 FLYW ... FOCS ... FIAC ... FCUV ... FHTX ... FRBN ... FMTX ... FORM ... FORTY 1.2 FORR ... FTNT ... FTAI 6.9 FRLA ... FWRD 1.0 FOSL ... FSTR ... FOUN ... FDMT ... LBPS ... FOXA 1.5 FOX 1.6 FOXF ... FRG 6.4 FELE 1.1 FRLN ... RAIL ... FEIM ... FREQ ... FRPT ... FRSH ...

dd 28 dd ... cc dd dd dd dd 24 dd dd 3 30 dd dd dd dd 8 dd dd 10 6 15 ... dd dd dd ... 40 11 9 10 8 11 8 12 11 24 9 25 10 11 9 9 11 8 20 10 10 9 35 10 5 dd 12 25 dd 43 37 28 ... dd 11 8 19 dd dd 8 dd 61 32 dd dd ... dd 33 26 37 77 dd dd 18 12 43 dd dd dd 16 15 21 4 22 dd dd dd dd dd dd

31.40 158.47 1.50 9.95 59.92 9.78 9.89 4.57 2.22 5.08 2.48 4.59 .43 51.90 9.90 26.80 .26 11.62 39.62 .80 7.24 35.22 28.23 9.93 .13 2.74 9.93 9.98 10.90 12.63 34.89 30.62 29.55 14.12 23.12 30.65 668.84 29.33 3.39 19.74 40.05 45.36 15.54 21.07 23.89 23.33 37.86 37.93 36.59 35.57 15.03 70.07 46.61 17.50 14.50 27.23 71.38 1.95 123.58 94.19 128.19 15.51 100.50 27.54 15.35 21.33 9.19 1.13 21.66 20.58 36.91 9.93 13.51 13.21 10.00 7.03 39.61 96.81 47.66 59.13 19.00 10.06 91.50 6.15 13.13 10.04 7.05 1.65 32.80 30.35 84.64 38.80 72.50 .89 3.74 7.08 1.34 59.67 13.50

+0.17 ... +7.83 ... –0.09 ... ... ... +2.46 ... +0.02 ... –0.10 ... +0.10 ... +0.10 ... +0.45.1453 –0.02 ... –0.16 ... –0.01 ... +3.42 .31 –0.04 ... +5.76 ... –0.08 ... +1.69 ... +1.63 .33 ... ... +0.23 ... +1.22 .30 +2.25 .29 –0.03 ... ... ... +0.12 ... +0.01 ... –0.01 ... –0.60 ... +0.01 ... +0.35 .22 +2.53 .32 +0.98 .18 +0.34 .06 +0.48 .23 –1.64.1975 +50.81 .47 +1.58 .27 +0.16 .10 +0.41 .23 +1.79 .17 +1.51 .54 –0.36 .12 +0.55 .11 –2.38 .16 +1.22 .26 +0.67 .06 +1.61 .41 +0.18 .32 –0.90 .22 –0.63 .07 +3.36 ... +1.90 .31 –0.44 .15 +1.11 ... –3.15 ... +5.00 .30 +0.02 ... +8.48.2025 +5.04 ... +9.98 ... –5.45 ... +13.74 ... +2.54 .15 +0.36 ... +2.14 .15 –0.07 ... –0.03 ... –0.17 .22 +4.53 ... +5.47 ... +0.02 ... –0.93 ... +1.25 ... ... ... +1.34 ... +4.48 ... +9.93.7908 +3.79 ... +5.33 ... +1.91 .33 ... ... +5.97 .24 +0.32 ... +0.59 ... ... ... +0.56 ... –0.77 ... +0.73 .24 +0.66 .24 +8.72 ... +3.68 .625 +3.91 .195 +0.04 ... –0.03 ... –0.09 ... +0.25 ... +7.00 ... +2.20 ...

Name

Tick Sym Yld P/E

52-Week High Low

51.36 35.15 18.12 11.63 33.10 112.00 19.17 25.08 15.99 9.50 181.44 10.50 G 12.38 81.69 30.43 24.12 116.00 6.21 10.00 12.42 10.77 72.19 5.79 10.79 16.97 12.73 6.84 51.46 9.99 8.59 6.74 12.95 28.67 10.50 10.81 9.97 22.74 6.38 49.07 37.90 99.00 10.94 43.79 1.74 10.50 4.32 79.40 35.12 10.68 74.12 137.00 12.78 26.13 17.15 42.10 9.83 0.11 40.69 83.77 21.25 79.49 0.31 2.61 23.69 17.59 11.91 27.52 59.96 16.46 16.23 48.05 24.89 181.30 12.14 9.90 14.30 17.15 15.00 102.04 34.00 7.06 21.96 2.69 16.27 62.70 44.27 16.02 519.04 5.49 15.80 9.59 17.89 28.98 14.42 43.24 46.83 10.30 0.25 63.06 44.60 133.82 4.92 6.76 H 50.69 19.99 10.05 7.78 25.98 9.68 43.94 24.78 44.85 48.88 5.70 48.58 116.00 59.82 28.84 24.68 15.45 12.22 54.00 15.10 12.99 10.95 8.75 105.73 102.95 27.91 48.12 26.40 49.76 59.50 10.61 32.95 84.71

Last

Div Chg. Amt.

20.30 21.93 8.19 2.87 3.21 47.34 14.12 15.28 4.48 2.64 21.23 9.95

Frontdoor FrontierComms Frontier FuelCell FulcrumTherap FulgentGenetics FultonFin Funko FusionFuelGreen FusionPharm Futu FutureTechIIA

FTDR FYBR ULCC FCEL FULC FLGT FULT FNKO HTOO FUSN FUTU FTII

... ... ... ... ... ... 4.1 ... ... ... ... ...

15 1 dd dd dd 4 9 21 ... dd 28 ...

21.62 24.12 10.54 3.90 5.14 56.79 14.80 24.16 7.02 2.75 52.94 9.99

+0.79 ... +1.28 ... +1.20 ... +0.44 ... +0.55 ... +6.86 ... +0.43 .15 +4.06 ... +0.68 ... –0.50 ... +8.36 ... ... ...

6.26 19.83 8.72 3.84 41.20 2.99 9.78 4.02 2.33 46.41 1.17 1.15 6.56 9.80 1.79 41.81 9.77 5.61 1.16 9.43 3.96 9.86 9.97 9.88 1.25 3.01 26.19 26.16 57.79 4.80 34.19 0.99 9.70 1.14 36.86 20.14 5.62 57.17 30.74 9.43 17.73 12.39 21.23 9.75 0.06 21.65 15.63 12.54 43.13 0.08 0.51 9.61 3.92 0.56 10.01 39.27 7.59 12.62 5.62 10.62 39.00 5.57 9.60 5.64 2.26 1.68 70.00 2.07 0.72 12.01 1.40 12.87 49.53 26.09 11.05 2.95 0.22 2.72 6.51 10.10 9.00 1.71 21.01 11.17 9.60 0.07 44.86 31.65 27.65 3.10 3.30

GCM Grosvenor GDS Holdings GH Research G1Therapeutics GRAVITY GSI Tech GSRIIMeteoraA Gaia GainTherap Galapagos Galecto GaleraTherap Gambling.com Games&EsportsA GamidaCell Gaming&Leisure GardinerHlthcr GarrettMotion GeminiTherap GencorIndustries GenerationBio GenesisGrowthA GenesisUnicorn GenesisUnicornA Genetron Genfit Genmab Gentex Gentherm GeospaceTech GermanAmerBncp Geron GesherIAcqnA GetnetAdquirencia GibraltarInds GIIIApparel GilatSatellite GileadSciences GitLab GladstoneCap GladstoneComm GladstoneInvt GladstoneLand GlblBlockchain GlbBlockchainRt GlbBloodTherap Global-EOnline GlobalWaterRscs GlobalFoundries GlobalinkInvtRt GlycoMimetics Gogo Gogoro GoHealth GolarLNG GoldenEnt GoldenOcean GolubCapital GoodRx Goodyear GooseheadIns GoPro GoresIX A GossamerBio Grab GracellBiotech GrandCanyonEduc GraphiteBio GraybugVision GreatElmCap GreatElm GreatLakesDredge GreatSouthernBncp GreenPlains GreenPlainsPtrs GreenidgeGen Greenlane GreenLightBio GreenlightCapRe Grifols GrindrodShipping Gritstone GroceryOutlet Groupon GrowthforGoodA GrowthforGoodRt GrAeroportuario GuarantyBcshrs GuardantHealth GulfIslandFab Gulf Resources

GCMG 5.7 GDS ... GHRS ... GTHX ... GRVY ... GSIT ... GSRM ... GAIA ... GANX ... GLPG ... GLTO ... GRTX ... GAMB ... GEEX ... GMDA ... GLPI 6.0 GDNR ... GTX ... GMTX ... GENC ... GBIO ... GGAA ... GENQU ... GENQ ... GTH ... GNFT ... GMAB ... GNTX 1.7 THRM ... GEOS ... GABC 2.6 GERN ... GIAC ... GET 7.6 ROCK ... GIII ... GILT ... GILD 4.6 GTLB ... GLAD 8.3 GOOD 8.0 GAIN 6.5 LAND 2.4 GBBK ... GBBKR ... GBT ... GLBE ... GWRS 2.1 GFS ... GLLIR ... GLYC ... GOGO ... GGR ... GOCO ... GLNG ... GDEN ... GOGL24.1 GBDC 9.3 GDRX ... GT ... GSHD .0 GPRO ... GHIX ... GOSS ... GRAB ... GRCL ... LOPE ... GRPH ... GRAY ... GECC14.4 GEG ... GLDD ... GSBC 2.7 GPRE ... GPP 15.3 GREE ... GNLN ... GRNA ... GLRE ... GRFS ... GRIN 10.2 GRTS ... GO ... GRPN ... GFGD ... GFGDR ... OMAB 5.9 GNTY 2.5 GH ... GIFI ... GURE ...

20 dd dd dd 7 dd ... 25 dd dd dd dd 24 19 dd 21 cc 2 dd 68 dd ... ... ... dd 2 58 20 31 dd 13 dd dd ... 17 5 ... 18 dd 5 dd 4 dd ... ... dd dd 68 cc ... dd 13 dd dd 6 7 4 8 dd 4 cc 3 ... dd 11 dd 16 dd dd dd dd 17 11 dd 7 dd dd dd 56 ... 5 dd 78 8 ... ... 17 11 dd dd dd

6.85 34.74 11.00 5.54 49.51 3.59 9.89 4.37 3.92 55.76 1.75 1.45 8.92 10.00 1.97 46.99 9.93 7.94 1.60 9.83 7.00 10.19 10.18 9.94 1.65 3.38 32.31 28.54 66.18 5.10 35.16 1.37 9.88 1.64 39.87 22.05 6.15 63.08 54.36 9.76 18.88 13.83 22.93 9.75 .08 31.79 23.10 14.09 45.89 .12 .62 16.53 7.01 .59 22.58 41.90 11.43 12.86 6.96 11.68 50.26 5.97 9.65 7.64 2.89 4.99 96.85 2.82 .82 12.50 2.29 13.26 58.36 26.87 11.61 3.17 .25 2.72 7.56 11.99 18.46 2.73 43.11 15.70 9.78 .12 55.71 35.71 46.25 3.25 3.95

+0.20 .10 +6.62 ... +0.45 ... +1.16 ... –2.71 ... +0.19 ... +0.04 ... +0.01 ... +0.28 ... +1.89 ... +0.01 ... +0.07 ... –0.73 ... –0.01 ... +0.06 ... +2.86 .705 ... ... +0.43 ... +0.20 ... –0.09 ... +0.91 ... +0.17 ... –0.01 ... –0.01 ... +0.26 ... +0.09 ... +3.77 ... +1.81 .12 +7.18 ... –0.27 ... –0.94 .23 +0.14 ... +0.01 ... –0.05.1238 –0.73 ... +0.91 ... +0.06 ... +4.55 .73 +10.35 ... –0.01.0675 +0.46.1254 +0.72 .075 +1.32.0454 –0.05 ... –0.02 ... +5.15 ... +4.80 ... +1.15.0246 +1.03 ... +0.02 ... ... ... +0.20 ... +1.59 ... +0.01 ... +0.88 ... +0.60 ... –1.27 .50 +0.04 .30 +0.85 ... +0.62 ... +9.57 1.63 +0.10 ... –0.25 ... +0.95 ... +0.56 ... +0.76 ... +9.01 ... +0.42 ... –0.01 ... –0.12 .45 –0.14 ... –0.11 ... +0.45 .40 –3.38 ... +0.37 .445 +0.08 ... +0.02 ... –1.52 ... +0.11 ... +0.42 ... –0.79 .47 +0.51 ... +2.96 ... +0.81 ... +0.02 ... +0.02 ... +2.601.8212 +0.58 .22 +9.12 ... –0.02 ... +0.01 ...

26.93 14.19 9.87 1.89 20.86 1.25 8.40 16.92 9.28 22.55 2.31 31.36 61.38 39.07 16.67 19.73 12.99 7.64 25.09 1.73 5.40 5.15 3.25 78.32 25.51 12.76 29.93 20.92 30.83 11.25 9.82 14.75 36.81

H&E Equipment HBT Finl HCM Acqn A HCW Biologics HMN Fin Hookipa HUTCHMED(China) HackettGroup HailiangEduc HainCelestial HallmarkFin HalozymeTherap HamiltonLane HancockWhitney HanmiFinancial HanoverBancorp HarborOneBncp Harmonic HarmonyBio HarpoonTherap HarrowHealth Harte-Hanks HarvardBioSci Hasbro HashiCorp HawaiianHoldings Hawkins HawthornBcsh HaynesIntl HealthCatalyst HealthcareAI A HealthcareSvcs HealthEquity

HEES HBT HCMA HCWB HMNF HOOK HCM HCKT HLG HAIN HALL HALO HLNE HWC HAFC HNVR HONE HLIT HRMY HARP HROW HHS HBIO HAS HCP HA HWKN HWBK HAYN HCAT HAIA HCSG HQY

15 10 ... dd 9 dd ... 14 11 19 dd 16 18 8 7 6 14 54 64 dd dd 4 dd 32 dd dd 15 7 26 dd ... 39 dd

29.54 18.42 9.95 2.16 22.86 1.73 13.01 19.13 13.80 22.83 2.53 46.90 70.69 44.77 22.61 20.06 13.92 8.68 51.67 2.08 7.07 10.53 3.82 85.74 32.77 15.43 36.58 24.56 33.61 17.27 9.94 17.13 66.81

+1.57 .275 +1.01 .16 –0.01 ... +0.09 ... –0.24 .06 +0.10 ... +1.91 ... +0.94 .11 +0.90 ... –0.29 ... +0.17 ... +2.76 ... +6.74 .40 +0.95 .27 +0.74 .22 +0.33 .10 +0.29 .07 +0.22 ... +7.69 ... +0.04 ... +0.52 ... +0.42 ... +0.54 ... +5.63 .70 +5.58 ... +1.74 ... +0.84 .14 +1.00 .17 +1.19 .22 +4.42 ... –0.67 ... +0.95.2125 –1.72 ...

Name

Tick Sym Yld P/E

3.7 3.5 ... ... 1.0 ... ... 2.3 ... ... ... ... 2.3 2.4 3.9 2.0 2.0 ... ... ... ... ... ... 3.3 ... ... 1.5 2.7 2.6 ... ... 4.8 ...

52-Week High Low

31.11 17.88 54.00 50.03 256.26 16.11 13.19 11.69 11.03 92.68 12.94 36.29 27.45 46.00 101.65 38.21 20.95 13.46 17.30 432.19 21.24 81.04 45.73 10.19 6.84 57.40 32.60 8.90 16.69 236.86 36.88 17.68 23.80 19.08 120.54 21.63 54.93 87.21 44.00 6.65 17.45 218.18 17.79 35.84 64.07 16.57 60.70 16.61 7.90 11.37 I 158.81 22.90 108.23 282.00 28.00 706.95 55.98 93.98 75.23 85.40 82.94 10.32 17.88 220.51 32.97 19.35 9.90 59.11 55.00 11.70 313.00 49.99 28.15 17.60 526.00 35.68 8.44 8.48 9.78 33.99 14.50 15.65 40.96 7.77 16.47 11.61 5.00 34.75 94.39 100.00 90.00 10.35 88.26 93.52 26.00 79.66 28.66 10.87 3.89 5.69 9.70 101.98 47.90 99.27 11.95 11.25 106.87 22.46 10.50 9.90 20.71 82.35 9.96 19.58 10.71 111.02 34.44 108.00 23.68 324.81 40.91 76.70 10.77 29.68 57.83 202.73 9.68 10.93 4.00 108.35 82.83 22.36 8.77 75.77 18.03 46.67 7.00 66.00

Last

Div Chg. Amt.

18.51 12.78 40.34 28.79 149.03 4.14 3.58 9.00 9.56 70.25 10.52 24.00 20.95 14.15 39.58 7.60 7.90 8.12 7.30 270.50 11.05 64.61 33.16 9.65 2.47 33.76 24.60 1.30 2.54 172.92 14.92 12.48 15.66 10.55 78.85 14.67 21.98 60.81 15.46 0.61 3.29 153.92 11.73 24.01 42.66 1.50 3.88 1.90 5.15 2.85

HealthStream HeartlandExp HeartlandFinUSA Heidrick&Strug HelenofTroy HelloGroup HemisphereMedia HennessyAdvsrs HennessyCapVI HenrySchein HeritageCommerce HeritageCrystal HeritageFin HertzGlobal Hibbett HighPeakEner HilleVax HillmanSolns HimaxTechs HinghamSvg HollysysAuto Hologic HomeBancorp HomePlateAcqn HomePtCap HomeStreet HomeTrustBcshs HomologyMed Honest Honeywell HookerFurnishings HopeBancorp HorizonBancorp HorizonTechFin HorizonTherap HostHotels Huazhu HubGroup HudsonGlobal HuizeHolding Humacyte JBHunt HuntingtonBcshs Hurco HuronConsulting Hut8Mining Hydrofarm Hyperfine Hywin HyzonMotors

HSTM ... HTLD .6 HTLF 2.6 HSII 1.8 HELE ... MOMO .0 HMTV ... HNNA 5.3 HCVI ... HSIC ... HTBK 4.7 HCCI ... HFWA 3.4 HTZ ... HIBB 2.0 HPK .4 HLVX ... HLMN ... HIMX13.8 HIFS .8 HOLI .0 HOLX ... HBCP 2.6 HPLT ... HMPT 4.1 HMST 3.9 HTBI 1.4 FIXX ... HNST ... HON 2.2 HOFT 4.8 HOPE 4.0 HBNC 3.4 HRZN10.3 HZNP ... HST 1.5 HTHT .0 HUBG ... HSON ... HUIZ ... HUMA ... JBHT 1.0 HBAN 5.0 HURC 2.4 HURN ... HUT ... HYFM ... HYPR ... HYW ... HYZN ...

cc 13 9 9 18 dd dd 10 51 17 14 9 10 dd 6 69 ... dd 3 10 11 12 7 31 19 7 19 dd dd 24 38 8 9 9 23 45 dd 10 16 dd dd 20 17 18 16 dd dd dd ... dd

21.22 14.00 42.27 32.48 165.71 5.00 6.82 10.41 9.65 77.29 10.99 25.54 25.05 18.23 50.36 25.16 14.04 9.44 8.99 281.95 14.85 70.93 34.98 9.76 3.90 36.35 25.50 2.03 3.35 180.02 16.67 13.99 17.78 11.67 85.13 16.09 35.56 70.10 32.50 1.24 3.32 162.15 12.51 25.41 61.50 1.73 4.12 2.11 6.79 3.57

+1.98 ... +0.51 .02 +0.62 .27 +2.76 .15 +13.00 ... –0.22 .62 –0.06 ... –0.09.1375 –0.04 ... +3.39 ... +0.28 .13 +0.67 ... +0.98 .21 +0.29 ... +4.32 .25 –2.70 .025 +4.78 ... –0.59 ... +0.41 1.25 +5.95 .57 +0.31 .32 +3.05 ... +0.94 .23 +0.01 ... +0.03 .04 +1.40 .35 +0.68 .09 +0.24 ... +0.69 ... +0.32 .98 +1.37 .20 +0.29 .14 +0.79 .15 +0.78 .10 +2.60 ... –0.11 .06 +4.49 .21 +3.12 ... –0.86 ... +0.20 ... –0.43 ... +7.27 .40 +0.57 .155 +0.19 .15 +2.73 ... +0.14 ... +0.07 ... +0.14 ... –0.15 ... –0.04 ...

72.29 10.77 84.68 158.60 8.14 318.50 24.94 12.67 50.71 8.05 55.92 1.90 3.56 82.68 17.80 5.96 9.68 47.17 23.10 0.56 196.34 4.00 7.83 2.83 180.00 11.56 0.97 1.13 4.28 3.74 2.52 2.60 18.43 3.10 3.51 3.15 1.85 5.72 39.69 50.50 4.13 9.71 61.91 68.14 17.87 62.82 13.03 4.67 0.46 0.78 5.41 56.95 7.67 20.60 2.00 4.32 81.00 3.46 9.87 5.77 12.91 22.51 1.38 3.15 1.74 84.61 16.41 4.00 3.90 181.00 13.52 53.57 9.71 9.38 36.60 37.08 1.33 9.86 3.07 64.52 52.18 10.81 4.50 56.13 11.95 37.72 3.93 28.40

IAC/InterActive IBEX ICF Intl ICU Medical IDEAYA Bio IdexxLab IES Holdings IGM Biosci II-VI I-Mab IndusRealty IN8bio IO Biotech IPG Photonics i3Verticals IVERICbio IXAcqnA IcahnEnterprises Ichor iClickInteract Icon Icosavax iHeartMedia IkenaOncology Illumina ImagoBioSci Imara iMediaBrands Immersion Immuneering Immunic ImmunityBio Immunocore Immunogen ImmunoPrecise Immunovant Immutep ImpelPharm Impinj InariMedical Incannex InceptionGrowth Incyte IndependentBank IndepBankMI IndependentBank IndLogistics Infinera InfinityPharm InflaRx InfoSvcsGrp InglesMarkets Inhibrx InMode InnatePharma Innodata Innospec InnovAge InnovativeIntlA InnovSolSuprt Innoviva Inogen InovioPharma InozymePharma Inseego InsightEnt Insmed Inspirato InstilBio Insulet Intapp IntegraLifeSci IntegralAcqnCorp.1 IntegralAd Intel IntelliaTherap Intellicheck IntelligentMedA Inter InterParfums InteractiveBrkrs InterceptPharm Intercure InterDigital Interface IntlBcshs Intevac Intra-Cellular

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83.90 17.24 93.23 169.42 13.88 361.48 31.13 19.25 55.72 12.35 61.86 2.43 4.83 98.98 25.89 10.44 9.80 48.13 27.49 .70 220.63 8.83 8.22 5.37 193.93 13.01 1.18 1.27 5.63 4.52 3.80 4.16 35.12 4.31 4.14 4.17 2.13 9.15 55.81 71.14 4.43 9.89 78.19 79.08 18.94 67.49 14.40 5.30 .73 .78 6.33 87.24 11.72 24.14 2.89 4.78 93.63 4.62 10.01 7.43 14.76 26.16 1.94 5.08 2.21 86.27 21.42 5.35 5.11 227.73 15.42 54.49 9.91 10.68 38.61 53.41 1.95 9.98 3.39 73.71 58.31 13.56 6.05 63.57 12.51 41.03 4.85 55.62

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Name

Tick Sym Yld P/E

52-Week High Low

716.86 369.69 15.78 23.51 6.58 248.00 44.42 28.00 16.13 169.54 9.46 48.95 28.25 98.86 14.27 16.95 52.43 101.42 29.85 J 16.91 180.00 92.69 16.65 71.39 205.37 122.35 0.23 9.94 39.69 49.27 35.93 186.22 17.45 50.31 5.74 124.90 9.81 10.03 0.36 K 457.12 13.36 12.87 9.97 0.28 137.63 6.11 14.00 28.65 6.96 6.55 43.22 25.91 161.98 14.73 11.89 13.89 25.60 25.51 14.47 8.69 68.29 39.35 14.99 7.48 10.30 18.55 81.47 30.61 13.61 45.50 36.31 16.68 26.05 27.22 27.50 36.60 131.97 181.38 44.87 30.29 21.69 25.76 102.99 75.29 23.00 85.62 69.12 L 10.19 10.05 11.15 10.09 175.90 216.65 10.31 60.43 220.80 8.57 15.26 20.69 85.71 27.24 9.96 731.85 124.32 201.31 12.64 30.00 16.17 188.63 73.78 17.11 15.26 10.30 10.51 14.83 32.58 85.45 19.02 11.58 4.17 44.43 28.84 40.94 10.01 58.00 64.50 228.81 6.97 28.02 6.33 13.62 41.49 16.37 188.76

Name

Tick Sym Yld P/E

Last

Div Chg. Amt.

339.36 186.83 6.29 17.08 3.70 144.30 25.04 6.18 1.86 41.66 2.63 31.73 2.89 37.87 10.13 1.62 16.21 43.18 19.73

Intuit IntuitiveSurgical Inventiva Investar InvestcpCredit InvestorsTitle IonisPharma IovanceBiotherap iQIYI iRhythmTechs Iridex IridiumComm IrisEnergy iRobot IronwoodPharm IsoPlexis iTeosTherap Itron IturanLocation

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417.62 209.67 6.46 21.70 4.03 157.66 39.25 10.35 4.73 115.62 2.74 37.31 3.05 43.04 11.30 2.25 20.56 50.82 24.81

+47.91 +17.59 –0.38 +0.10 –0.07 +2.25 +3.99 +1.59 +0.25 +7.47 +0.01 +0.23 –0.69 +0.53 –0.12 +0.23 +1.95 +4.68 +1.31

.68 ... ... .09 .15 .46 ... ... ... ... ... ... ... ... ... ... ... ... .14

7.50 117.45 41.56 6.23 23.14 147.50 56.03 0.10 9.82 19.76 19.68 9.39 117.64 7.99 16.36 1.57 54.55 2.76 9.82 0.07

JakksPacific J&JSnackFoods JD.com Joann Joyy JackHenry JackintheBox JaguarGlbGrwI Rt JaguarGlbGrwI A JamesRiver JamfHolding JanuxTherap JazzPharm JetBlue JFrog Jiayin JohnsonOutdoors JounceTherap JupiterWellnessA JupiterWellnessRt

JAKK JJSF JD JOAN YY JKHY JACK JGGCR JGGC JRVR JAMF JANX JAZZ JBLU FROG JFIN JOUT JNCE JWAC JWACR

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13.00 139.66 64.01 8.59 32.62 182.90 59.25 .16 9.91 24.60 27.51 13.01 153.49 8.62 23.17 2.18 64.24 2.80 9.96 .12

+1.69 ... +7.28 .633 –1.22 1.26 –0.11 .11 +2.98 .51 +10.77 .49 –0.58 .44 +0.02 ... ... ... +1.56 .05 +2.67 ... +2.05 ... +10.58 ... +0.08 ... +4.39 ... +0.08 ... +2.33 .30 –0.10 ... +0.02 ... ... ...

287.44 2.94 6.89 9.80 0.10 69.42 0.34 1.32 8.00 4.22 2.12 13.46 14.70 92.26 4.02 1.10 10.91 15.89 16.63 4.00 6.95 24.38 32.44 12.07 4.34 9.64 4.31 55.94 16.66 7.49 28.54 2.50 7.36 7.18 3.32 2.87 13.78 4.90 31.01 32.78 12.54 11.98 2.96 38.86 42.00 10.41 30.95 13.15

KLA KLX Energy KVH Inds KairousAcqn KairousAcqnRt KaiserAlum KalaPharm Kaltura KalVistaPharm Kamada KandiTech Kanzhun KaratPkg KarunaTherap KaryopharmTherap Katapult KearnyFinancial KellyServices A KellyServices B KemPharm KY FirstFedBncp KerosTherap KeurigDrPepper KewauneeSci KeyTronic KeyarchAcqn KezarLifeSci Kforce KimballElec KimballIntl B Kinetik KingsoftCloud KiniksaPharm KinnateBio Kirkland's Knightscope KnowBe4 KodiakSciences KornitDigital KraftHeinz KratosDefense KrispyKreme KronosBio KrystalBiotech Kulicke&Soffa KuraOncology KuraSushiUSA KymeraTherap

KLAC KLXE KVHI KACL KACLR KALU KALA KLTR KALV KMDA KNDI BZ KRT KRTX KPTI KPLT KRNY KELYA KELYB KMPH KFFB KROS KDP KEQU KTCC KYCH KZR KFRC KE KBAL KNTK KC KNSA KNTE KIRK KSCP KNBE KOD KRNT KHC KTOS DNUT KRON KRYS KLIC KURA KRUS KYMR

1.2 ... ... ... ... 4.0 ... ... ... ... ... ... ... ... ... ... 3.9 1.5 1.6 ... 5.1 ... 2.1 ... ... ... ... 2.0 ... 4.5 8.8 ... ... ... ... ... ... ... ... 4.2 ... .9 ... ... 1.5 ... ... ...

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339.50 4.26 8.61 9.95 .13 77.26 .36 2.14 10.33 4.61 2.61 27.34 17.12 116.93 5.17 1.33 11.24 19.43 19.03 4.65 7.80 28.56 35.76 14.14 4.47 9.78 6.04 60.40 21.25 7.96 34.01 4.67 10.30 12.04 4.44 3.23 17.48 9.04 36.40 38.40 14.21 14.75 3.64 68.52 44.88 18.17 49.69 20.13

+27.57 1.05 –0.70 ... +0.76 ... ... ... +0.03 ... –0.12 .77 –0.03 ... +0.36 ... +1.21 ... +0.39 ... +0.22 ... +5.21 ... –2.10 ... +11.96 ... +0.73 ... +0.07 ... +0.28 .11 +2.02 .075 +1.60 .075 +0.36 ... –0.89 .10 +1.08 ... +1.41.1875 +0.14 ... –0.22 ... ... ... +0.75 ... +2.51 .30 +0.74 ... +0.27 .09 –1.12 .75 +0.27 ... +1.18 ... +2.68 ... +0.79 ... +0.06 ... –0.08 ... +1.13 ... +2.11 ... +2.82 .40 +0.65 ... +1.91 .035 +0.13 ... +13.02 ... +1.93 .17 +3.96 ... +8.77 ... +4.36 ...

9.72 9.83 2.28 9.86 71.73 108.42 9.85 42.36 127.03 5.41 13.20 14.45 56.06 15.37 9.90 411.39 83.96 116.85 7.65 24.16 0.55 137.15 22.20 6.77 1.90 9.80 9.88 1.21 6.29 43.59 9.41 4.83 0.92 17.78 12.17 10.16 9.73 30.76 38.32 48.32 3.84 13.74 1.31 1.67 16.86 2.15 99.52

LamfGlbI A LavaMedtech LavaTherap LFCapAcqnIIA LGI Homes LHC Group LIVCapAcqnII A LKQ LPL Financial LSI Inds LakeShoreBancorp LakelandBcp LakelandFin LakelandInd LakeshoreAcqnII LamResearch LamarAdv LancasterColony Landec LandmarkBncp LandosBio LandstarSystem Lantheus Largo LarimarTherap LarkspurHlthA LatAmGrowthA Latch Latham LatticeSemi LaureateEduc Leafly LeapTherap LeeEnterprises LegacyHousing LegalZoom LegatoMergerII LegendBiotech LeMaitreVascular LendingTree LesakaTech Leslie's LexiconPharm LexinFintech LiAuto LianBio LibertyBroadbandA

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9.95 9.96 2.73 9.97 86.53 156.79 9.95 49.92 188.82 5.86 14.00 14.69 67.70 16.05 9.91 450.19 92.09 132.27 10.84 24.90 .61 147.97 62.82 7.10 2.05 9.96 9.97 1.26 7.90 52.01 11.35 4.83 1.21 18.86 13.39 12.42 9.92 52.86 45.13 50.55 5.10 16.23 2.03 2.19 40.79 2.50 113.15

+0.02 ... –0.01 ... +0.45 ... –0.12 ... +12.30 ... –0.80 ... ... ... +2.98 .25 +3.43 .25 +0.14 .05 +0.01 .16 –0.31 .145 +1.23 .40 +0.24 ... ... ... +30.73 1.50 +3.74 1.20 +8.13 .80 +0.96 ... –0.80 .21 –0.18 ... +9.51 .25 +2.10 ... –0.28 ... +0.15 ... +0.05 ... ... ... –0.12 ... +1.35 ... +6.22 ... –0.05 .58 –1.35 ... +0.20 ... +0.66 ... +0.17 ... –0.60 ... –0.03 ... +6.63 ... +2.82 .125 +0.81 ... +0.11 ... +1.13 ... +0.57 ... +0.17 ... +7.64 ... +0.08 ... +6.23 ...

BARRON’S

NASDAQ ISSUES

D ATA 52-Week High Low

194.05 30.58 30.49 14.79 14.94 64.70 71.17 32.69 31.27 56.26 56.19 10.03 32.50 4.47 13.79 29.81 19.93 9.00 169.98 90.20 11.66 4.18 18.98 8.20 148.54 28.73 334.84 93.89 99.89 68.82 9.01 10.62 7.80 28.90 5.15 9.85 128.42 18.50 17.94 11.88 17.50 87.12 98.95 13.52 57.75 11.10 21.29 485.83 108.90 25.28 11.09 11.52 15.37 19.84 63.07 9.98 M 80.30 14.70 84.97 104.00 2.43 181.03 11.70 121.22 9.56 29.16 105.93 10.84 25.49 37.54 12.53 36.28 86.65 19.00 5.08 9.95 0.43 23.33 188.52 49.08 5.53 95.98 63.55 10.29 3.63 27.26 19.83 3.24 498.97 16.97 37.90 195.90 19.94 5.98 93.85 305.21 29.69 182.00 27.55 11.76 26.99 37.60 39.76 17.44 25.39 77.89 10.38 91.37 10.55 10.05 4.65 6.22 231.00 14.80 24.89 17.17 1970.13 40.01 17.17 72.28 3.31 30.21 39.78 73.85 7.41 14.80 33.09 9.70 333.42 8.46 65.96 384.33 4.15 0.20 56.79 29.82 90.00 98.45

Last

Div Chg. Amt.

102.14 20.87 21.83 7.01 6.95 40.63 45.74 24.50 23.34 34.40 34.34 9.78 8.49 0.81 1.80 4.77 10.20 4.55 72.57 45.22 2.16 0.37 10.44 4.94 120.35 11.39 223.31 56.13 32.06 11.72 1.42 1.82 0.87 14.43 0.34 9.33 51.05 2.96 4.35 1.49 1.06 26.05 4.30 1.69 13.25 1.36 5.10 251.51 73.97 6.94 2.67 6.15 11.77 3.57 13.73 3.30

LibertyBroadbandC LibertyGlobal A LibertyGlobal C LibertyLatAmA LibertyLatAmC LibertyFormOne A LibertyFormOne C LibertyBraves A LibertyBraves C LibertySirius A LibertySirius C LibertyRscsA LibertyTripAdvB LibertyTripAdvA LifeMD LifeStanceHealth LifetimeBrands LifewayFoods LigandPharm Light&Wonder Lilium LiminalBioSci Limoneira LincolnEduc LincolnElectric LiquiditySvcs Littelfuse LivaNova LiveOakBcshs LivePerson LiveVox LixiangEduc Lizhi LoganRidgeFin LogicBioTherap LogisticsInnovA LogitechIntl LongboardPharm LoopIndustries LordstownMotors Lottery.com Lovesac LoyaltyVentures LucidDiag Lucid LuciraHealth Lulu'sFashion lululemon Lumentum LuminarTech LumiraDx LumosPharma LutherBurbank LyellImmuno Lyft LyraTherap

LBRDK LBTYA LBTYK LILA LILAK FWONA FWONK BATRA BATRK LSXMA LSXMK LIBY LTRPB LTRPA LFMD LFST LCUT LWAY LGND LNW LILM LMNL LMNR LINC LECO LQDT LFUS LIVN LOB LPSN LVOX LXEH LIZI LRFC LOGC LITT LOGI LBPH LOOP RIDE LTRY LOVE LYLT LUCD LCID LHDX LVLU LULU LITE LAZR LMDX LUMO LBC LYEL LYFT LYRA

... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1.4 ... ... ... ... ... 2.0 ... ... ... .8 ... .3 ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.6 ... ... ...

21 1 1 dd dd 49 54 51 48 14 14 ... 3 0 dd dd 14 21 65 12 ... dd dd 7 23 9 19 dd 10 dd dd ... dd dd dd 55 15 dd dd dd dd 12 dd dd dd dd dd 37 33 dd dd dd 7 dd dd dd

115.27 22.08 23.17 7.79 7.76 58.11 63.87 25.26 23.99 36.07 36.09 10.01 9.30 .89 2.16 6.28 11.78 4.99 89.30 50.61 2.83 .45 14.69 6.37 125.78 13.96 257.61 64.57 36.71 15.57 1.61 2.14 1.20 16.15 .43 9.72 56.18 2.96 4.61 1.88 1.34 33.36 4.31 2.20 19.21 1.71 12.28 293.36 82.18 7.49 2.95 7.33 13.40 6.66 16.34 5.45

+5.83 ... +0.66 ... +0.58 ... +0.02 ... +0.08 ... +3.20 ... +3.72 ... –0.04 ... –0.15 ... +0.34 ... +0.47 ... ... ... –0.38 ... ... ... +0.14 ... +1.05 ... +1.47.0425 +0.21 ... +11.67 ... +3.60 ... +0.14 ... +0.01 ... +1.18 .075 +0.44 ... +3.46 ... +0.26 ... +12.98 .53 +5.62 ... +2.54 .03 +2.41 ... –0.01 ... +0.19 ... +0.12 ... –0.40 ... +0.05 ... –0.03 ... +3.16 ... –1.12 ... –0.87 ... +0.23 ... +0.23 ... +3.68 ... –0.97 ... +0.46 ... +2.58 ... +0.26 ... –0.20 ... +15.23 ... +5.51 ... +0.13 ... –0.16 ... +0.65 ... +0.46 .12 +1.20 ... +1.45 ... +0.46 ...

44.08 9.92 69.23 58.41 0.80 97.64 0.94 74.77 7.37 2.13 52.33 0.92 15.08 8.57 10.15 20.06 48.31 15.12 1.35 9.75 0.10 13.76 107.82 16.45 2.49 66.91 23.16 9.76 1.23 1.62 3.97 0.25 249.01 2.28 6.05 127.23 14.72 2.52 43.68 112.07 20.26 67.25 12.44 4.81 17.95 3.62 27.62 3.36 7.48 32.87 9.85 67.08 9.80 3.50 2.09 1.21 126.95 5.07 6.59 4.06 600.68 28.51 9.51 44.44 0.30 17.04 24.00 51.31 3.66 2.68 13.47 2.10 178.32 2.32 36.02 154.25 0.35 0.08 29.61 17.27 56.24 53.60

Macom Tech MeliKaszek MGE Energy MGP Ingredients MindTech MKS Instrum MSP Recovery MYR Group Macatawa Macrogenics MadrigalPharm MagentaTherap MagicSoftware Magnite MagyarBancorp MakeMyTrip MalibuBoats MalvernBancorp MammothEnergy ManaCapAcqn ManaCapAcqnRt Mandiant ManhattanAssoc Mannatech MannKind ManTechIntl MaravaiLifeSci MarblegateAcqn Marchex MarinSoftware MarinusPharma MarkerTherap MarketAxess MarketWise Marqeta Marriott MartenTransport MartinMidstream MarvellTech Masimo MasterCraftBoat MatchGroup Materialise MatrixService Mattel Matterport MatthewsIntl MaxCyte MaxeonSolar MaxLinear MaxproCapA McGrathRent McLarenTechA MedallionFin MediciNova MediWound Medpace MeihuaIntlMed MeiraGTx MelcoResorts MercadoLibre MercantileBank MercerIntl MercurySystems MereoBioPharma MeridianBiosci Meridian MeritMedical MerrimackPharm MersanaTherap Merus MesaAir MesaLab Mesoblast MetaFinancial MetaPlatforms Metacrine MetalSkyStarRt Methanex MetroCityBkshs MicrochipTech MicronTech

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18 dd 26 19 dd 10 dd 17 11 dd dd dd 33 dd 12 dd 8 dd dd dd ... dd 65 5 dd 29 16 dd dd dd dd dd 44 dd dd 31 15 17 dd 36 6 88 43 dd 8 dd dd dd dd 39 dd 20 ... 3 dd dd 29 ... dd dd cc 9 3 cc 9 21 6 63 dd dd dd dd cc dd 7 13 dd ... 6 8 27 7

49.68 10.02 77.05 95.36 .86 105.91 2.19 84.30 9.01 3.34 83.46 1.30 18.30 10.65 11.71 27.01 53.60 15.65 2.23 9.93 .21 21.94 120.32 17.00 3.88 95.58 28.45 9.88 1.26 1.84 4.99 .26 277.64 3.90 10.11 139.39 16.90 3.65 48.22 138.60 21.74 78.45 14.61 5.42 23.50 4.18 28.98 5.03 12.94 34.88 10.08 75.88 9.98 6.29 2.60 1.59 153.89 5.78 7.55 6.11 739.46 32.03 12.97 61.34 1.53 30.00 29.55 52.94 5.85 5.00 22.08 2.45 199.66 2.54 39.65 170.16 .46 .08 40.16 21.45 60.58 58.44

+4.20 ... +0.06 ... +2.76.3875 +2.22 .12 –0.01 ... +5.55 .22 +0.82 ... +2.22 ... +0.33 .08 +1.04 ... +13.15 ... +0.20 ... +1.55 .216 +1.01 ... –0.06 .03 +1.01 ... +2.40 ... +0.26 ... +0.04 ... ... ... –0.02 ... +0.36 ... +9.05 ... –4.85 .20 +0.32 ... +0.79 .41 +1.81 ... +0.01 ... –0.10 ... +0.11 ... +0.63 ... –0.01 ... +13.43 .70 +0.22 ... +0.77 ... –5.84 .30 +0.67 .06 –0.13 .005 +2.18 .06 +13.85 ... +1.03 ... +9.90 ... +1.30 ... +0.32 ... +1.70 ... +0.06 ... +1.04 .22 +1.20 ... +0.61 ... +0.31 ... +0.04 ... +1.45 .455 +0.01 ... –0.33 .08 +0.05 ... +0.23 ... +18.53 ... –0.38 ... +0.23 ... +0.73 ... +104.24 ... +0.79 .31 –0.37 .075 +4.97 ... +0.23 ... +1.50 ... +0.54 .20 +0.95 ... –0.38 ... +1.30 ... +2.20 ... +0.19 ... +11.39 .16 +0.05 ... +2.00 .05 +6.42 ... –0.01 ... –0.02 ... +0.19 .145 +1.59 .15 +2.98 .276 +2.69 .10

Name

June 27, 2022

Tick Sym Yld P/E

52-Week High Low

349.67 891.38 15.91 18.93 33.89 201.34 121.43 30.60 34.65 8.24 49.31 42.55 3.80 20.64 10.37 195.99 28.65 11.00 21.82 497.49 211.94 32.04 8.62 25.00 14.69 94.26 450.00 69.47 12.36 590.00 580.00 65.30 99.89 45.56 10.06 350.21 68.75 20.47 24.87 10.07 10.60 9.95 10.50 3.70 22.00 36.95 N 26.00 42.33 27.25 319.88 27.25 7.77 26.24 239.91 1.41 34.50 15.27 70.40 2.64 214.96 129.09 73.89 64.67 5.23 45.98 55.67 16.48 65.92 258.89 19.93 33.93 12.38 23.80 22.19 79.43 9.48 19.37 63.69 47.80 10.56 34.44 96.82 118.19 700.99 39.41 37.68 108.02 17.92 25.26 52.37 14.11 10.74 4.63 10.55 27.82 11.20 19.10 26.42 25.69 36.41 18.78 192.84 9.18 21.87 12.50 19.44 2.69 41.45 34.44 40.64 36.95 13.44 272.28 41.05 21.50 135.15 18.41 47.34 9.95 0.25 15.15 34.94 65.62 30.92 29.00 149.15 184.44 277.80 226.83 24.00 3.32 37.42 44.50 40.82 70.76 140.23 346.47 37.00

B A R R O N S .C O M / D ATA Last

Div Chg. Amt.

241.51 134.09 2.34 2.50 24.81 121.85 75.77 22.50 27.08 3.98 25.58 14.48 2.20 2.62 1.61 32.96 12.82 0.15 11.04 115.61 80.55 5.92 0.76 9.09 1.85 55.14 87.05 57.63 5.06 213.39 351.21 37.49 71.78 6.05 9.85 218.25 19.23 4.35 12.85 9.84 9.96 9.71 9.93 0.56 6.50 16.02

Microsoft MicroStrategy Microvast MicroVision MidPennBancorp Middleby MiddlesexWater MidlandStBncp MidWestOneFin MilestonePharm MillerKnoll MillicomIntl Mind CTI MinervaNeurosci MinervaSurgical MiratiTherap MirumPharm Missfresh MissionProduce Moderna ModivCare MolecularPtrs MolecularTemp Momentive Momentus MonarchCasino monday.com Mondelez MoneyGram MongoDB MonolithicPower Monro MonsterBev MonteRosaTherap MontereyBioAcqn Morningstar Morphic MorphoSys MotorcarParts MountRainier MountainI A MountainCrestAcqnV MurphyCanyonA MustangBio Mynaric MyriadGenetics

MSFT .9 MSTR ... MVST ... MVIS ... MPB 2.9 MIDD ... MSEX 1.3 MSBI 4.7 MOFG 3.2 MIST ... MLKN 2.6 TIGO ... MNDO10.7 NERV ... UTRS ... MRTX ... MIRM ... MF ... AVO ... MRNA ... MODV ... MOLN ... MTEM ... MNTV ... MNTS ... MCRI ... MNDY ... MDLZ 2.2 MGI ... MDB ... MPWR .7 MNRO 2.5 MNST ... GLUE ... MTRY ... MORN .6 MORF ... MOR ... MPAA ... RNER ... MCAA ... MCAG ... MURF ... MBIO ... MYNA ... MYGN ...

28 dd dd dd 11 15 36 7 8 dd dd 3 8 dd ... dd dd dd 43 4 dd 2 dd dd dd 15 dd 21 dd dd 73 25 37 dd dd 59 dd dd 36 dd dd dd ... dd dd dd

267.70 205.44 2.74 4.25 27.31 130.62 85.98 24.51 29.99 6.46 28.66 15.40 2.43 3.17 2.39 68.16 18.71 .27 14.58 144.27 89.38 7.40 1.06 10.47 2.46 60.58 122.36 62.65 10.12 303.09 419.41 45.50 94.58 10.24 10.02 249.41 23.08 4.95 13.42 10.02 10.11 9.85 10.02 .73 6.77 18.95

+20.05 .62 +37.84 ... –0.15 ... +0.51 ... –0.30 .20 +6.59 ... +5.68 .29 +0.20 .29 +0.69.2375 +0.66 ... +2.18.1875 +0.42 ... +0.18 .26 +0.01 ... +0.15 ... +13.16 ... –1.24 ... +0.03 ... +0.22 ... +16.24 ... +0.40 ... +0.73 ... +0.22 ... +0.96 ... –0.15 ... +1.80 ... +24.76 ... +3.85 .35 +0.23 ... +53.34 ... +20.85 .75 +5.50 .28 +6.46 ... +3.35 ... +0.02 ... +21.01 .36 +1.17 ... +0.01 ... +0.28 ... +0.01 ... +0.01 ... –0.05 ... +0.03 ... +0.10 ... –0.24 ... +2.40 ...

15.39 32.66 10.49 179.13 15.33 2.16 0.49 151.32 0.18 8.23 3.58 11.81 0.46 140.31 26.10 45.50 38.10 0.92 31.09 30.93 8.91 22.59 192.67 8.42 20.90 2.55 12.45 4.67 23.94 6.66 3.02 10.69 22.12 0.80 7.07 62.78 68.62 162.71 17.40 26.01 71.88 1.98 4.61 19.17 11.09 9.55 2.24 9.87 17.40 9.70 8.66 14.95 15.18 17.65 1.72 135.87 3.25 13.64 8.50 4.82 0.65 12.60 6.67 7.55 10.38 4.62 194.89 28.45 9.05 89.68 11.87 38.42 9.69 0.07 12.04 23.11 53.66 21.55 23.00 88.00 110.84 34.88 56.39 6.00 0.52 7.52 13.44 7.09 45.45 36.49 153.28 10.12

Napco Security NBT Bancorp NGM Biopharm NICE NMI Holdings NN NRX Pharm NXP Semi NabrivaTherap NanoXImaging Nanobiotix NanoStringTech NantHealth Nasdaq Natera Nathan's NationalBeverage NatlCineMedia NatlInstruments NatlResearch NatlSecurity NationalVision NatlWesternLife NaturalAlt NatusMedical NautilusBiotech Navient NavitasSemi nCino NecessityRetail NektarTherap NeoGames Neogen NeoleukinTherap NerdWallet NetApp NetEase Netflix Netgear NetScout Neurocrine Neuronetics NeuroPace NewFortressEner NewMtnFin NewProvidenceII A NY Mortgage NewcourtAcqnA NewellBrands NewHoldInvtIIA Newmark NewsCorp A NewsCorp B NewtekBusSvcs NexImmune NexstarMedia NextCure NextGenHlthcr NicholasFin Nikola 9F 908Devices NiuTech Nkarta nLIGHT Noodles Nordson NortheastBank NorthernTechsIntl NorthernTrust NorthfieldBanc NorthrimBanCorp NorthViewAcqn NorthViewRt NorthwestBcshs NorthwestPipe Northwestern NortonLifeLock NorwoodFin Nova Novanta Novavax Novocure Novonix NuCana NurixTherap Nutanix Nuvalent Nuvasive Nuvei NVIDIA Nyxoah

NSSC ... NBTB 3.0 NGM ... NICE ... NMIH ... NNBR ... NRXP ... NXPI 2.1 NBRV ... NNOX ... NBTX ... NSTG ... NH ... NDAQ 1.5 NTRA ... NATH 3.1 FIZZ .0 NCMI10.8 NATI 3.5 NRC 2.5 NSEC 1.5 EYE ... NWLI .2 NAII ... NTUS ... NAUT ... NAVI 4.4 NVTS ... NCNO ... RTL 11.6 NKTR ... NGMS ... NEOG ... NLTX ... NRDS ... NTAP 3.0 NTES 1.3 NFLX ... NTGR ... NTCT ... NBIX ... STIM ... NPCE ... NFE 1.0 NMFC10.3 NPAB ... NYMT14.4 NCAC ... NWL 4.6 NHIC ... NMRK 1.2 NWSA 1.3 NWS 1.2 NEWT18.0 NEXI ... NXST 2.2 NXTC ... NXGN ... NICK ... NKLA ... JFU ... MASS ... NIU ... NKTX ... LASR ... NDLS ... NDSN 1.0 NBN .1 NTIC 2.8 NTRS 2.9 NFBK 4.0 NRIM 3.8 NVAC ... NVACR ... NWBI 6.2 NWPX ... NWE 4.3 NLOK 2.2 NWFL 4.8 NVMI ... NOVT ... NVAX ... NVCR ... NVX ... NCNA ... NRIX ... NTNX ... NUVL ... NUVA ... NVEI ... NVDA .1 NYXH ...

46 11 dd 68 6 dd dd 20 dd dd dd dd dd 23 dd 18 28 dd 39 27 50 24 5 6 87 dd 4 dd dd dd dd dd 54 dd dd 16 24 17 dd 71 cc dd dd 22 7 dd 59 28 12 dd 3 19 19 ... dd 8 dd cc 24 dd dd dd 24 dd dd dd 25 5 12 13 9 8 ... ... 12 24 17 16 7 27 78 dd dd dd dd dd dd dd dd 73 46 ...

21.54 37.44 14.68 205.47 16.89 2.65 .62 159.32 .20 11.78 3.76 14.23 .48 159.28 41.38 57.85 48.64 1.11 32.40 38.90 16.34 29.81 208.26 10.01 32.65 3.02 14.40 4.73 37.20 7.35 4.03 15.56 24.61 1.08 9.92 66.81 93.60 190.85 19.44 34.74 98.24 3.38 5.38 39.27 11.70 9.87 2.77 10.00 20.03 9.82 10.06 15.78 16.08 18.65 1.93 164.35 4.65 18.11 9.47 5.61 .81 19.08 9.27 13.02 11.37 4.99 204.94 34.07 10.17 97.12 12.92 41.10 9.88 .13 12.88 31.26 58.06 22.46 23.44 95.90 126.16 51.67 75.60 7.28 .79 12.67 15.48 13.59 50.67 39.66 171.26 10.55

+2.20 ... +1.46 .28 +1.05 ... +12.92 ... +0.70 ... +0.01 ... +0.07 ... +1.49 .845 +0.02 ... +1.48 ... –0.09 ... +1.85 ... –0.03 ... +10.43 .60 +7.85 ... +6.35 .45 +4.18 3.00 –0.10 .03 +0.96 .28 +2.51 .24 +0.14 .06 +4.02 ... +11.88 .36 –0.16 ... +1.57 ... +0.09 ... +1.21 .16 –0.64 ... +5.63 ... +0.45.2125 +0.56 ... +1.27 ... +1.77 ... +0.08 ... –0.75 ... +3.05 .50 +0.43 .322 +15.34 ... +1.51 ... +1.81 ... +4.96 ... +0.03 ... +0.35 ... –0.94 .10 +0.24 .30 –0.04 ... +0.41 .10 –0.03 ... +1.92 .23 –1.37 ... +0.58 .03 +0.28 .10 +0.35 .10 –0.53 .75 +0.06 ... +4.00 .90 +0.36 ... +1.50 ... +0.40 ... –0.07 ... +0.10 ... +4.94 ... +1.52 ... +0.77 ... +0.87 ... –0.43 ... +9.58 .51 –2.73 .01 +0.30 .07 +5.44 .70 +0.92 .13 +1.80 .41 +0.03 ... –0.01 ... +0.67 .20 +1.02 ... +3.48 .63 +0.63 .125 –0.56 .28 +6.07 ... +13.89 ... +11.43 ... +17.61 ... +0.34 ... +0.15 ... +1.55 ... +1.01 ... +3.57 ... +1.67 ... +1.67 ... +12.46 .04 –0.72 ...

Name

Tick Sym Yld P/E

52-Week High Low

O 50.29 14.86 5.25 9.90 748.68 101.80 8.04 7.81 181.34 26.59 3.58 24.25 14.73 30.49 32.29 276.30 30.41 373.58 20.81 15.68 32.19 38.78 95.43 43.18 163.27 31.41 16.57 187.29 10.03 71.26 6.25 16.18 35.72 8.35 34.75 9.66 35.46 62.79 35.82 10.50 44.00 55.25 25.33 10.96 27.95 8.73 6.85 3.90 31.08 13.57 5.02 3.13 26.70 47.58 43.30 73.91 10.00 2.59 71.89 20.99 60.33 111.28 4.43 8.53 5.05 20.70 PQ 40.89 7.45 26.04 54.79 7.13 89.22 33.78 43.25 37.32 51.00 47.73 153.73 45.80 97.56 36.36 45.25 82.16 16.47 51.81 640.90 97.18 30.56 140.68 10.01 51.19 47.46 7.30 17.76 34.50 10.52 9.27 16.14 19.49 10.35 88.79 18.00 16.29 35.29 20.53 141.92 39.71 314.50 11.20 310.16 38.60 10.58 143.66 129.70 86.40 43.39 25.00 34.63 30.00 56.57 16.99 15.00 177.62 10.06 12.98 14.75 153.28 5.29 33.09 15.70 28.47 26.21 40.75 35.82 11.73 27.50

Name

Tick Sym Yld P/E

Last

Div Chg. Amt.

28.85 9.51 2.17 9.70 550.77 76.09 2.85 6.20 79.31 2.75 1.08 18.30 2.91 18.75 23.87 77.01 11.73 231.31 14.22 11.16 2.00 8.39 37.67 19.92 97.16 1.98 1.86 104.32 9.84 34.01 0.84 0.98 8.81 6.01 5.94 1.37 4.77 29.86 1.03 9.81 9.86 35.04 4.30 4.22 8.24 4.73 3.26 1.46 19.69 2.62 0.41 0.91 2.62 36.80 23.60 36.71 1.08 1.14 47.24 4.60 13.25 24.82 1.65 5.49 3.45 3.46

ODP OP Bancorp OPKO Health OPYAcqnIA OReillyAuto OSI Systems O2MicroIntl OaktreeSpec OasisPetrol Oatly ObsEva OceanFirstFin OcularTherapeutix OfficePropIncm OhioValleyBanc Okta Olaplex OldDomFreight OldNatlBncp Old2ndBcp OlemaPharm OlinkHolding Ollie'sBargain OlympicSteel OmegaFlex OmegaTherap Omeros Omnicell OmniLitAcqnA ON Semi Oncocyte Oncorus 1-800-FLOWERS 180DegreeCap 1LifeHealthcare 111 1stdibs.com OneWaterMarine Ontrak OnyxAcqnIA OpenLending OpenText OpendoorTech Opera OportunFin OptheaADR OpticalCable Optinose OptionCare OraSureTechs OrchardTherap OrganiGram OricPharm OriginBancorp OrthofixIntl OrthoPediatrics OtonomoTech Otonomy OtterTail Outbrain OutsetMedical Overstock OvidTherap OxfordLane OxfordSquare OysterPtPharma

ODP ... OPBK 3.7 OPK ... OHAA ... ORLY ... OSIS ... OIIM ... OCSL 9.7 OAS 1.8 OTLY ... OBSV ... OCFC 3.6 OCUL ... OPI 10.9 OVBC 2.9 OKTA ... OLPX ... ODFL .5 ONB 3.7 OSBC 1.5 OLMA ... OLK ... OLLI ... ZEUS 1.3 OFLX 1.2 OMGA ... OMER ... OMCL ... OLIT ... ON ... OCX ... ONCR ... FLWS ... TURN ... ONEM ... YI ... DIBS ... ONEW .0 OTRK ... ONYX ... LPRO ... OTEX 2.2 OPEN ... OPRA ... OPRT ... OPT ... OCC ... OPTN ... OPCH ... OSUR ... ORTX ... OGI ... ORIC ... OBNK 1.5 OFIX ... KIDS ... OTMO ... OTIC ... OTTR 2.5 OB ... OM ... OSTK ... OVID ... OXLC15.8 OXSQ 11.6 OYST ...

dd 5 dd ... 20 14 12 8 3 dd dd 11 dd dd 11 dd 44 26 15 23 dd dd 35 2 43 dd dd 82 dd 16 dd dd 11 4 dd dd dd 4 dd dd 9 23 dd dd 3 ... 7 dd 30 dd dd dd dd 9 dd dd ... dd 12 dd dd 14 dd 5 19 dd

30.90 10.71 2.64 9.83 639.06 84.90 3.97 6.44 128.04 4.08 1.89 18.92 3.99 20.19 28.70 101.26 15.59 257.72 14.95 13.46 4.37 12.45 63.43 26.70 107.01 4.39 2.61 121.69 10.00 52.97 1.02 1.41 10.98 6.15 9.12 2.18 6.67 34.00 1.41 10.00 11.21 39.63 5.66 4.54 8.25 6.22 3.90 3.76 28.34 2.89 .55 1.06 4.11 39.05 24.47 44.71 1.16 2.02 65.00 5.45 16.30 33.46 1.91 5.69 3.61 4.61

–4.10 ... +0.33 .10 +0.22 ... ... ... +52.34 ... +4.06 ... +0.03 ... +0.17 .165 –7.72 2.94 +0.35 ... +0.09 ... +0.09 .17 +0.25 ... +0.86 .55 –3.04 .15 +18.59 ... +1.58 ... +25.62 .30 +0.36 .14 –0.36 .05 +0.76 ... +2.85 ... +5.46 ... +0.03 .09 –11.05 .32 +1.64 ... +0.61 ... +14.62 ... +0.02 ... +0.51 ... +0.06 ... +0.01 ... +0.91 ... –0.10 ... +1.19 ... +0.35 ... +1.07 ... +2.68 1.80 –0.01 ... –0.03 ... +1.13 ... +2.87.2209 +0.83 ... +0.07 ... –0.90 ... +0.72 ... +0.16 ... +0.34 ... +2.35 ... +0.11 ... –0.03 ... +0.12 ... +0.36 ... +0.54 .15 –0.29 ... +3.61 ... –0.03 ... +0.20 ... +3.22.4125 +0.30 ... +1.69 ... +4.20 ... +0.06 ... –0.03 .075 –0.04 .035 +0.93 ...

12.94 5.21 15.56 40.08 3.90 34.52 17.29 6.94 8.99 34.22 15.38 96.55 25.01 77.96 3.85 27.92 45.05 8.71 25.60 358.37 44.01 20.12 74.46 9.86 26.34 23.69 1.60 3.41 9.23 9.84 3.92 1.57 12.72 9.95 49.79 8.51 7.06 26.51 6.44 104.01 20.14 152.01 3.33 70.47 28.89 9.75 36.50 9.29 26.46 11.38 22.00 26.37 24.88 41.65 7.82 9.60 145.24 9.82 9.65 5.70 79.75 1.85 16.41 6.28 3.13 13.71 13.56 19.09 6.10 13.14

PAM Transport P&FIndustries PCB Bancorp PCConnection PCTEL PDC Energy PDF Solutions PLBY Group PMV Pharm PRA Group ProceptBio PTC PTC Therap Paccar PacBiosciCA PacificPremBncp PaciraBioSci PactivEvergreen PacWestBancorp PaloAltoNtwks Palomar PanAmerSilver PapaJohn's PapayaGrowthI A ParamountA ParamountB ParatekPharma PardesBiosci Park-Ohio ParsecCapA PartnerComms PassageBio PatriaInvts PatriaLatAm PatrickIndustries PatriotNatBncp PatriotTransport Patterson PattersonUTIEn Paychex PaycorHCM Paylocity Payoneer PayPal PeapackGladFinl PearlHldgsAcqnA Pegasystems Peloton PennNational Pennant PennsWoodsBncp PeoplesBncpOH PeoplesBncpNC PeoplesFinSvcs PepGen PepperLimeA PepsiCo PerceptionCapII PerdoceoEduc PerellaWeinberg Perficient PerformantFin PerionNetwork Perma-PipeIntl Personalis PetcoHealth PetIQ PetMedExpress Pharming Pharvaris

PTSI PFIN PCB CNXN PCTI PDCE PDFS PLBY PMVP PRAA PRCT PTC PTCT PCAR PACB PPBI PCRX PTVE PACW PANW PLMR PAAS PZZA PPYA PARAA PARA PRTK PRDS PKOH PCX PTNR PASG PAX PLAO PATK PNBK PATI PDCO PTEN PAYX PYCR PCTY PAYO PYPL PGC PRLH PEGA PTON PENN PNTG PWOD PEBO PEBK PFIS PEPG PEPL PEP PCCT PRDO PWP PRFT PFMT PERI PPIH PSNL WOOF PETQ PETS PHAR PHVS

8 9 7 14 dd 12 dd dd dd 10 dd 28 dd 15 dd 8 68 21 6 dd 38 24 dd ... 5 4 dd dd dd dd 28 dd 15 ... 4 10 4 17 dd 33 dd cc dd 26 10 ... dd dd 15 cc 10 13 11 9 ... dd 23 dd 7 dd 51 dd 15 11 dd 25 dd 21 46 ...

29.55 5.77 18.09 44.52 4.14 59.86 20.99 7.65 13.43 36.93 33.90 112.44 40.22 84.21 5.61 29.33 57.43 9.77 27.47 510.71 64.52 21.06 83.62 9.99 28.39 25.76 2.12 3.46 17.62 10.06 7.17 2.55 13.66 10.01 52.93 12.16 7.06 28.47 15.77 122.43 28.54 185.22 4.19 77.68 30.30 9.86 52.72 11.01 32.12 14.31 23.14 27.42 26.93 55.29 11.74 9.85 166.13 10.04 11.42 6.61 93.63 2.72 18.64 7.75 4.00 17.07 16.78 21.78 7.66 20.94

+3.16 ... +0.32 ... –1.44 .15 +0.61 1.00 –0.20 .055 –4.92 .35 +1.39 ... +0.61 ... +2.86 ... +0.94 ... –3.39 ... +8.53 ... +11.81 ... +2.29 .34 +1.37 ... +0.91 .33 +3.71 ... –0.15 .10 +1.03 .25 +35.35 ... +8.53 ... +0.06 .12 +2.89 .35 +0.04 ... +1.36 .24 +1.20 .24 +0.32 ... –1.42 ... +2.04 .125 –0.01 ... +0.44 ... +0.35 ... +0.53 .202 –0.05 ... +2.24 .33 –1.09 ... –0.44 3.75 +0.53 .26 +0.53 .04 +9.43 .79 +6.32 ... +25.13 ... +0.02 ... +4.78 ... –0.01 .05 –0.05 ... +6.19 .03 +1.27 ... +4.72 ... –1.15 ... +0.10 .32 +0.66 .38 +0.28 .18 +2.17 .39 –0.27 ... –0.01 ... +9.07 1.15 ... ... +0.99 ... +0.20 .07 +6.71 ... +0.30 ... +0.82 ... –0.18 ... +0.73 ... +1.07 ... +1.81 ... +1.13 .30 +0.39 ... –6.56 ...

... ... 3.3 .0 5.3 2.3 ... ... ... ... ... ... ... 1.6 ... 4.5 ... 4.1 3.6 ... ... 2.3 1.7 ... 3.4 3.7 ... ... 2.8 ... ... ... 7.1 ... 2.5 ... .0 3.7 1.0 2.6 ... ... ... ... .7 ... .2 ... ... ... 5.5 5.5 2.7 2.8 ... ... 2.8 ... ... 4.2 ... ... ... ... ... ... ... 5.5 ... ...

52-Week High Low

4.10 37.17 44.00 31.00 36.35 11.76 23.04 34.66 133.81 111.31 7.10 7.90 12.10 12.84 9.81 8.23 30.00 99.12 29.97 9.64 11.29 582.27 78.00 99.49 57.73 25.97 11.10 48.74 8.95 61.51 32.83 10.47 110.66 7.57 10.50 23.56 6.96 14.38 81.97 78.00 43.55 34.00 42.15 10.94 92.11 16.54 31.16 80.36 50.77 11.98 24.55 23.62 53.99 68.32 9.95 51.96 9.09 9.06 50.54 10.95 18.25 79.75 9.70 18.25 17.43 44.19 45.81 10.01 56.46 28.89 8.50 19.00 8.95 62.34 4.50 201.46 193.58 49.03 150.10 66.21 7.45 14.17 4.64 180.06 21.00 4.25 13.78 13.44 20.30 R 40.74 29.09 250.52 94.33 28.82 11.66 46.46 11.25 9.89 0.20 9.63 26.02 10.02 0.35 27.86 4.85 20.29 18.79 23.00 38.84 42.19 22.22 25.78 21.73 33.75 27.40 53.59 36.27 27.04 145.00 18.22 12.75 2.55 22.83 153.41 42.81 57.73 34.28 58.74 27.22 65.41 11.18 0.15 78.78 747.42 10.02 38.60 35.35

Last

Div Chg. Amt.

0.50 6.10 36.07 17.28 26.51 9.71 11.65 20.23 23.21 67.90 1.38 1.81 8.64 9.24 6.13 3.60 11.57 72.88 3.97 3.92 9.10 324.14 0.72 68.31 14.84 21.33 1.82 8.97 4.83 44.00 18.81 9.70 71.43 2.16 9.94 1.63 1.12 1.11 57.27 54.97 3.87 25.01 33.26 3.39 66.77 12.71 21.47 58.66 17.99 5.86 17.11 16.75 41.68 25.67 9.23 19.79 0.53 6.66 6.91 2.72 4.43 21.06 3.40 13.76 13.25 17.05 13.84 1.60 18.15 2.99 4.10 1.96 0.60 44.75 1.36 91.91 118.23 11.33 97.02 14.58 1.50 2.69 0.31 88.05 8.28 0.26 3.61 2.90 0.64

PhaseBioPharm PhathomPharm Phenixfin PhibroAnimal PhillipsEdison PhoenixBiotech Photronics PilgrimPride Pinduoduo PinnacleFinPtrs PintecTech Pixelworks PlainsAllAmPipe PlainsGP PlayaHotels Playstudios Playtika Plexus PliantTherap PolyPid PonceFinl Pool PopCulture Popular Portillo's PortmanRidge PoseidaTherap Poshmark Potbelly PotlatchDelt PowellIndustries Pwr&Digital II A PowerIntegrations PowerFleet PowerUpAcqn PraxisPrecision Precigen PrecisionBio PreferredBankLA PreformedLine PreludeTherap PremierFinl Premier Prenetics PriceSmart PrimisFinl PrimorisSvcs PrincipalFin PriviaHealth Procaps ProfessionalHldg ProFrac ProgressSoftware Progyny ProjectEnReimag PrometheusBio ProQR Therap ProspectCapital ProtagonistTherap ProtaraTherap Proterra Prothena ProventionBio ProvidentFin PrudentialBncp PubMatic Pulmonx PumaBiotech PureTechHealth PurpleInnovation Puyi PyxisOncology Q&K Intl QCR Holdings QilianIntl Qorvo Qualcomm QualtricsIntl Qualys Quanterix Quantum Quantum-Si Quhuo QuidelOrtho QuinStreet Quotient QurateRetailB QurateRetailA Qutoutiao

PHAS ... PHAT ... PFX ... PAHC 2.4 PECO 3.2 PBAX ... PLAB ... PPC ... PDD ... PNFP 1.2 PT ... PXLW ... PAA 8.8 PAGP 8.5 PLYA ... MYPS ... PLTK ... PLXS ... PLRX ... PYPD ... PDLB ... POOL 1.1 CPOP ... BPOP 2.8 PTLO ... PTMN11.0 PSTX ... POSH ... PBPB ... PCH 3.9 POWL 4.2 XPDB ... POWI .9 PWFL ... PWUP ... PRAX ... PGEN ... DTIL ... PFBC 2.5 PLPC 1.2 PRLD ... PFC 4.7 PINC 2.2 PRE ... PSMT 1.2 FRST 2.9 PRIM 1.0 PFG 3.7 PRVA ... PROC ... PFHD ... PFHC ... PRGS 1.4 PGNY ... PEGR ... RXDX ... PRQR ... PSEC 10.1 PTGX ... TARA ... PTRA ... PRTA ... PRVB ... PROV 4.0 PBIP 1.8 PUBM ... LUNG ... PBYI ... PRTC ... PRPL ... PUYI ... PYXS ... QK ... QCRH .4 QLI ... QRVO ... QCOM 2.4 XM ... QLYS ... QTRX ... QMCO ... QSI ... QH ... QDEL ... QNST ... QTNT ... QRTEB .0 QRTEA .0 QTT ...

dd dd 12 14 cc dd 14 36 45 11 dd dd 43 cc 52 dd 17 21 dd dd 18 20 8 7 dd 9 dd dd dd 7 dd ... 27 dd ... dd dd dd 10 8 dd 9 16 47 21 13 12 12 dd dd 14 ... 29 56 49 dd dd 3 dd dd dd 23 dd 11 dd 18 dd dd dd dd dd ... dd 8 23 11 13 dd 57 dd dd dd dd 4 cc dd 14 12 dd

.68 8.59 37.15 20.30 33.29 10.04 20.34 31.07 65.96 72.80 2.09 1.88 9.92 10.27 6.99 5.42 14.54 81.00 8.18 4.61 9.37 356.94 1.46 78.88 16.74 22.93 2.20 12.20 5.14 45.57 24.51 9.81 76.01 2.29 9.98 2.34 1.40 1.45 68.01 64.34 5.46 25.75 37.17 4.20 72.26 14.01 23.61 68.55 29.43 8.60 18.79 18.57 51.56 30.94 9.74 29.08 .68 7.12 9.08 3.40 5.27 27.77 4.25 14.14 15.23 17.96 15.85 2.85 21.20 3.94 8.49 2.34 2.09 53.65 1.99 97.87 125.10 14.64 136.52 18.79 1.68 2.89 .41 100.18 9.97 .26 4.04 3.41 .99

+0.06 ... +2.32 ... –0.95 ... +2.14 .12 +0.10 .09 +0.02 ... +1.19 ... +1.73 ... +6.96 ... +1.88 .22 –0.13 ... +0.05 ... +0.21.2175 +0.12.2175 –0.17 ... –0.60 ... +1.05 ... +3.85 ... +1.09 ... +0.11 ... –0.28 ... +24.01 1.00 +0.08 ... +1.65 .55 +1.32 ... +1.06 .63 +0.15 ... +1.56 ... –0.05 ... +0.34 .44 +1.37 .26 –0.04 ... +2.99 .18 –0.17 ... +0.01 ... +0.26 ... +0.05 ... +0.19 ... +1.71 .43 +2.57 .20 +0.72 ... +0.23 .30 +2.54 .20 +0.06 ... +0.39 .43 +0.82 .10 +1.51 .06 +4.69 .64 +1.17 ... +0.11 ... –2.65 ... –2.69 ... +4.63 .175 +4.15 ... ... ... +3.59 ... –0.05 ... +0.34 .06 +1.22 ... +0.28 ... –0.57 ... +3.90 ... +0.46 ... +0.16 .14 +0.34 .07 –0.62 ... +1.53 ... +0.18 ... +2.33 ... +0.39 ... +0.41 ... –0.03 ... +0.49 ... +0.66 .06 +0.13 ... +2.74 ... +4.11 .75 +2.81 ... +14.61 ... +2.74 ... +0.11 ... –0.06 ... +0.02 ... –0.88 ... –0.30 ... –0.10 ... +0.37 1.25 +0.08 1.25 +0.04 ...

9.86 19.50 152.90 46.49 3.70 1.19 18.69 9.65 9.80 0.10 5.48 18.01 9.82 0.11 18.71 0.98 5.99 11.70 4.97 16.44 20.82 2.15 5.90 5.29 20.46 18.18 14.31 8.00 2.49 60.42 9.51 4.56 0.46 2.23 20.24 4.92 46.93 6.91 31.68 1.61 7.13 0.62 0.08 55.78 536.08 9.94 12.65 15.74

RaptTherap RBB Bancorp RBC Bearings RCI Hospitality RCM Tech REE Automotive REGENXBIO RF Acqn RF Acqn A RF Acqn Rt RF Industries RGC Resources ROC Energy ROC Energy Rt R1 RCM RVL Pharm RackspaceTech RadiusGlbInfr RadiusHealth RadNet Radware RainTherap Rallybio RamacoRscs Rambus RandolphBancorp RangerOil RaniTherap RapidMicro Rapid7 RattlerMidstrm RealGoodFood RealNetworks RealReal ReataPharm RecursionPharm RedRiverBcshs RedRobin RedRockResorts Redbox Redfin RedHillBio RedwoodsAcqnRt RegencyCtrs RegenPharm RelativityAcqnA RelayTherap RelmadaTherap

RAPT RBB ROLL RICK RCMT REE RGNX RFACU RFAC RFACR RFIL RGCO ROC ROCAR RCM RVLP RXT RADI RDUS RDNT RDWR RAIN RLYB METC RMBS RNDB ROCC RANI RPID RPD RTLR RGF RNWK REAL RETA RXRX RRBI RRGB RRR RDBX RDFN RDHL RWODR REG REGN RACY RLAY RLMD

dd 7 92 13 14 dd 12 ... ... ... 32 dd ... ... 69 dd dd dd dd 54 cc dd dd 8 dd 25 19 dd dd dd 15 dd dd dd dd dd 13 dd 8 cc dd dd ... 22 9 ... dd dd

19.19 20.91 182.19 49.68 21.56 1.57 26.50 9.98 9.83 .10 6.10 18.70 9.95 .13 21.67 1.25 7.20 15.40 10.11 18.11 22.59 3.74 8.00 13.70 21.74 26.05 30.83 12.37 3.37 71.82 13.42 6.82 .60 3.63 31.08 8.99 56.99 8.53 35.36 9.75 9.67 .82 .08 61.48 612.49 10.01 20.87 19.65

+2.53 ... +0.41 .14 +3.78 ... –0.48 .05 –0.42 ... +0.04 ... +5.41 ... –0.04 ... –0.02 ... ... ... –0.01 ... +0.62 .195 ... ... ... ... +1.84 ... +0.02 ... +0.72 ... +0.86 ... +1.68 ... +0.86 ... +0.85 ... +1.42 ... +0.80 ... –1.31.1129 +0.82 ... –0.03 2.00 –6.99 ... +1.12 ... +0.88 ... +9.06 ... –0.26 .30 +0.52 ... –0.04 ... +1.04 ... +0.13 ... +1.37 ... +2.54 .07 +0.10 ... +2.31 .25 –2.26 ... +1.88 ... +0.18 ... –0.04 ... +3.86 .625 +31.54 ... +0.01 ... +4.75 ... +1.35 ...

Name

Tick Sym Yld P/E

... 2.7 ... .4 ... ... ... ... ... ... ... 4.2 ... ... ... ... ... ... ... ... ... ... ... 3.3 ... 2.3 ... ... ... ... 8.9 ... ... ... ... ... .5 ... 2.8 ... ... ... ... 4.1 ... ... ... ...

52-Week High Low

53.65 34.98 42.16 11.40 12.30 67.76 24.77 35.75 327.32 40.22 57.62 5.67 10.84 20.65 20.09 33.83 10.35 34.16 32.29 21.10 8.03 16.24 4.62 11.52 8.22 179.47 85.00 49.66 59.56 10.36 16.76 490.76 11.49 10.61 127.58 10.64 15.59 147.70 44.75 26.34 14.92 60.89 58.01 24.93 19.67 127.25 S 34.20 391.15 8.21 65.22 10.05 34.38 14.80 21.40 20.05 37.25 7.73 34.99 174.42 6.50 84.85 24.58 763.22 19.02 13.35 94.97 27.49 10.45 59.68 365.50 6.82 26.60 10.55 216.01 52.04 93.74 12.83 23.10 45.67 58.10 38.32 11.80 101.24 7.48 1.82 41.01 59.70 44.95 43.71 79.75 16.80 15.10 22.29 7.54 7.28 9.88 23.61 3.44 39.31 117.67 192.79 10.14 10.59 11.00 21.86 26.89 10.46 45.85 4.70 94.35 15.21 10.38 94.92 62.09 60.55 12.37 5.97 10.54 15.50 25.06 13.46 1.63 6.04 10.00 15.28 10.77 29.62 61.53 37.61 249.73 46.21 23.19 54.50 9.14 28.92 55.19 25.08 42.57

Last

Div Chg. Amt.

6.66 3.47 27.61 1.92 5.06 19.51 3.00 8.07 137.21 13.05 41.41 2.91 5.33 13.28 15.07 11.27 9.70 14.08 24.54 3.04 2.57 7.20 0.64 4.19 6.08 19.25 6.81 7.57 31.26 5.48 2.52 72.63 1.11 9.77 69.75 9.67 3.71 92.01 34.86 0.75 11.00 40.95 36.20 15.95 8.80 65.64

RemitlyGlobal Renalytix Renasant ReneoPharm ReNewEnergy Rent-A-Center RenttheRunway RepareTherap Repligen Replimune RepublicBcpKYA RepublicFirstBncp ReservoirMedia ResourcesConnect RetailOppor RevanceTherap RevelstoneCapA RevolutionMed ReynoldsCnsmr RhythmPharm RibbonComms RichardsonElec RigelPharm RiminiStreet RiverviewBncp Rivian Robinhood RocketPharm RockyBrands RockyMtnChoc RoivantSciences Roku Root RoseHillAcqn RossStores RothCHAcqnV Rover RoyalGold RoyaltyPharma RubiusTherap RunwayGrowthFin RushEnt A RushEnt B RuthsHospitality RxSight Ryanair

RELY ... RNLX ... RNST 3.0 RPHM ... RNW ... RCII 5.9 RENT ... RPTX ... RGEN ... REPL ... RBCAA 2.9 FRBK ... RSVR ... RGP 2.7 ROIC 3.2 RVNC ... RCAC ... RVMD ... REYN 3.4 RYTM ... RBBN ... RELL 1.5 RIGL ... RMNI ... RVSB 3.4 RIVN ... HOOD ... RCKT ... RCKY 1.8 RMCF ... ROIV ... ROKU ... ROOT ... ROSE ... ROST 1.6 ROCL ... ROVR ... RGLD 1.3 RPRX 1.8 RUBY ... RWAY10.6 RUSHA 1.6 RUSHB 1.5 RUTH 3.2 RXST ... RYAAY ...

dd dd 11 dd dd 18 dd dd 66 dd 9 13 30 10 35 dd ... dd 19 dd dd 18 dd 9 7 dd dd dd 11 dd dd cc dd 24 17 dd dd 25 30 dd 10 10 10 14 dd dd

9.23 4.57 29.17 2.25 6.40 22.99 3.85 14.84 165.88 18.52 47.84 4.00 6.40 20.61 16.40 15.28 9.79 18.87 27.37 4.35 2.84 15.50 1.02 5.92 6.55 29.50 8.00 13.95 35.36 6.88 4.79 98.77 1.35 10.01 77.53 9.85 3.81 109.68 43.20 .96 11.35 48.78 49.50 17.70 13.95 75.03

+0.35 ... +0.38 ... +0.94 .22 +0.17 ... +0.03 ... +2.74 .34 +0.64 ... +1.57 ... +23.13 ... +3.32 ... +2.78 .341 –0.13 ... –0.16 ... +2.97 .14 +1.02 .13 +2.37 ... –0.03 ... +0.86 ... +2.69 .23 +0.41 ... +0.07 ... +1.24 .06 –0.08 ... +0.27 ... +0.27 .055 +3.26 ... +0.81 ... +2.91 ... +3.59 .155 –1.37 ... +0.41 ... +16.35 ... +0.09 ... –0.02 ... +2.77 .31 –0.07 ... –0.61 ... +0.75 .35 +3.85 .19 +0.03 ... –0.19 .30 +1.01 .19 +1.04 .19 +0.68 .14 –0.35 ... +4.01 ...

27.01 286.41 1.70 51.34 9.93 11.89 5.66 14.60 14.05 19.34 1.51 25.29 94.84 3.00 54.59 14.19 384.83 11.44 5.52 74.45 21.19 9.60 27.36 168.03 1.91 3.93 9.87 175.83 37.61 67.02 3.12 6.99 35.06 46.93 20.00 2.69 61.28 2.51 1.02 24.89 32.16 4.33 32.21 20.71 9.67 2.73 10.75 0.34 3.48 9.45 12.37 0.38 29.28 69.78 105.43 9.72 9.90 9.67 6.49 9.26 7.53 6.44 0.65 74.29 1.31 9.75 52.92 41.54 44.00 1.45 1.88 1.91 1.15 2.50 4.65 0.93 0.37 9.80 0.88 1.78 2.59 17.06 9.58 113.36 23.55 16.35 18.24 0.80 20.77 14.91 13.44 6.25

S&T Bancorp SBA Comm SCYNEXIS SEI Investments ShuaaPtrsI A SI-BONE SIGA Tech SLM SLR Invt SMART Global SPI Energy SP Plus SPS Commerce SRAX SS&C Tech SSR Mining SVB Fin SabraHealthcare Sabre SafetyInsurance SagaComm SagaliamAcqnA SageTherap Saia SalemMedia SanaBiotech SanabyHlthIA SandersonFarms SandySpringBncp Sanfilippo SangamoTherap SangomaTechs Sanmina Sanofi SapiensInt SarcosTech&Robotic SareptaTherap SatsumaPharm Savara ScanSource SchnitzerSteel ScholarRock Scholastic Schrodinger SchultzeSpecII A Science37 SciPlay ScopusBio scPharm ScreamingEagleA ScrippsEW SeaChange SeacoastBkgFL Seagate Seagen SeaportCalibreMatl SeaportGlblAcqnII SeaportGlblAcqnII SeaSpine SecureWorks SecurityNatFin Seer SelectaBiosci SelectiveIns Sema4 SemperParatusA Semtech SenecaFoods A SenecaFoods B SenseiBiotherap SenstarTech SentiBiosciences SeraPrognostics SeresTherap ServiceProperties ServiceSource SesenBio 7AcqnA 17Educ&Tech Sharecare ShattuckLabs ShenandoahTel ShoalsTech ShockwaveMed ShoeCarnival ShoreBancshares Shyft Sientra SierraBancorp SierraOncology SierraWireless SightSciences

STBA 4.3 SBAC .9 SCYX ... SEIC 1.4 SHUA ... SIBN ... SIGA .0 SLM 2.7 SLRC 11.1 SGH ... SPI ... SP ... SPSC ... SRAX ... SSNC 1.3 SSRM 1.3 SIVB ... SBRA 8.2 SABR ... SAFT 3.8 SGA 3.4 SAGA ... SAGE ... SAIA ... SALM ... SANA ... SANB ... SAFM .8 SASR 3.4 JBSS 1.0 SGMO ... SANG ... SANM ... SNY 2.4 SPNS 3.8 STRC ... SRPT ... STSA ... SVRA ... SCSC ... SCHN 2.3 SRRK ... SCHL 1.7 SDGR ... SAMA ... SNCE ... SCPL ... SCPS ... SCPH ... SCRM ... SSP ... SEAC ... SBCF 2.1 STX 3.8 SGEN ... SCMA ... SGIIU ... SGII ... SPNE ... SCWX ... SNFCA ... SEER ... SELB ... SIGI 1.4 SMFR ... LGST ... SMTC ... SENEA ... SENEB ... SNSE ... SNT .0 SNTI ... SERA ... MCRB ... SVC .8 SREV ... SESN ... SVNA ... YQ ... SHCR ... STTK ... SHEN .3 SHLS ... SWAV ... SCVL 1.5 SHBI 2.7 SHYF 1.0 SIEN ... BSRR 4.2 SRRA ... SWIR ... SGHT ...

10 83 dd 13 ... dd 14 7 16 dd dd 16 90 dd 20 17 14 dd dd 14 12 dd dd 17 2 dd 52 6 9 15 dd dd 10 18 27 dd dd dd dd 9 5 dd 36 dd dd dd 18 dd dd ... 14 dd 17 9 dd 38 ... ... dd dd 6 dd 6 15 dd ... 27 10 9 dd 6 dd dd dd dd dd 3 21 dd dd dd 1 cc cc 5 15 13 dd 9 dd dd dd

27.86 327.73 2.06 55.38 9.99 14.29 13.04 16.26 14.78 21.14 1.90 30.29 114.66 3.30 60.66 18.84 415.52 14.67 6.29 94.53 23.75 9.94 33.65 190.69 2.46 7.01 10.03 214.62 40.17 72.31 4.31 8.65 42.38 53.42 24.93 2.81 75.22 3.60 1.57 32.69 32.91 5.96 35.52 30.41 9.81 2.85 13.60 .36 4.60 9.62 12.99 .58 32.98 74.15 179.33 9.99 9.97 9.95 6.60 11.88 8.51 9.54 1.33 82.61 1.70 10.03 57.34 55.42 54.30 2.06 1.94 2.15 1.75 3.38 5.23 1.45 .82 9.96 1.76 1.92 4.41 25.76 17.41 197.69 24.07 17.91 19.25 .99 22.13 54.91 22.54 10.50

+0.46 .30 +35.69 .71 +0.28 ... +3.27 .40 +0.05 ... +1.11 ... +1.76 .45 +0.66 .11 +0.35.1367 +1.36 ... +0.07 ... +1.82 ... +14.05 ... +0.03 ... +4.55 .20 –0.07 .07 +15.76 ... +0.64 .30 +0.28 ... +5.25 .90 –0.13 .20 +0.04 ... –0.21 ... +18.83 ... –0.06 ... +1.86 ... –0.01 ... +6.31 .44 +1.13 .34 +3.81 2.30 +0.73 ... +1.38 ... +2.92 ... +4.22.2972 +1.71 .47 –0.24 ... +8.25 ... +0.70 ... +0.27 ... +1.30 ... –2.27.1875 +0.57 ... +0.10 .15 +5.32 ... +0.01 ... –0.41 ... +0.04 ... –0.07 ... +0.30 ... ... ... +0.49 ... +0.02 ... +0.36 .17 +1.46 .70 +13.88 ... –0.02 ... ... ... +0.02 ... –0.12 ... +1.64 ... +0.28 ... +2.25 ... +0.09 ... +4.76 .28 +0.10 ... +0.02 ... +2.62 ... +4.16 ... +2.30 ... +0.15 ... –0.021.725 –0.03 ... +0.48 ... +0.52 ... +0.18 .01 –0.02 ... +0.06 ... –0.03 ... –0.18 ... –0.09 ... +1.00 ... +2.22 .07 –2.16 ... +39.51 ... –1.08 .09 –1.48 .12 +0.39 .05 +0.12 ... +1.03 .23 +0.02 ... +1.42 ... +2.23 ...

Name

Tick Sym Yld P/E

June 27, 2022

BARRON’S

NASDAQ ISSUES

D ATA 52-Week High Low

12.01 11.02 374.76 28.35 46.98 52.75 211.98 98.65 67.49 15.40 35.63 22.68 32.76 57.96 35.69 28.34 2.95 6.88 341.77 53.05 197.62 116.00 4.95 6.20 9.33 39.61 24.50 10.30 24.65 24.99 14.50 389.71 3.98 14.85 14.72 10.88 47.49 42.57 19.80 27.38 3.35 29.89 93.34 65.59 61.93 26.06 45.36 17.41 37.48 4.08 19.87 10.87 176.66 11.46 28.22 17.96 10.88 5.44 89.75 35.34 11.51 163.08 11.04 7.51 33.99 4.67 126.32 1.62 4.18 100.37 55.19 72.70 28.99 32.14 51.56 64.50 67.40 36.20 71.08 81.05 42.83 83.34 46.65 46.44 35.80 28.94 20.00 8.39 23.48 40.23 12.85 34.61 60.60 58.34 27.26 34.50 8.38 48.60 69.58 62.27 23.70 10.20 11.37 11.40 28.48 19.20 299.39 3.99 22.71 104.18 4.38 377.60 4.37 5.77 T 19.03 16.53 10.70 20.97 10.42 11.04 10.45 15.39 150.20 35.40 51.79 224.56 113.37 15.89 11.44 53.38 57.64 195.83 17.48 12.88 9.17 10.15 155.86

0.73 9.75 165.36 7.80 37.10 31.30 124.78 58.86 27.21 7.70 2.80 14.20 20.78 35.18 18.89 2.66 0.23 5.69 110.93 20.06 88.76 31.68 1.73 0.88 0.98 13.02 9.32 0.85 4.82 12.87 4.41 200.86 0.42 5.61 4.20 1.22 2.70 18.16 2.16 18.31 1.48 22.06 62.60 41.83 39.75 18.90 34.52 9.52 18.08 0.60 0.85 9.55 84.63 6.56 7.57 8.46 9.79 2.25 13.60 21.18 1.25 49.03 4.81 1.62 16.56 0.72 68.39 0.16 1.91 50.54 22.39 40.35 14.65 20.17 32.07 5.70 45.92 9.55 6.81 52.31 15.86 48.01 29.50 23.73 1.55 21.00 12.56 0.88 6.87 17.00 4.22 12.78 16.80 32.88 14.57 23.15 1.37 3.30 26.66 32.43 3.33 9.03 9.67 4.17 9.01 9.50 113.97 1.06 13.27 62.28 0.88 255.02 1.82 0.65 2.07 5.15 3.60 13.34 9.78 9.77 9.67 1.00 101.51 23.30 9.23 104.72 58.99 9.76 2.50 2.09 6.28 101.85 5.70 0.80 1.03 9.87 52.69

Name

SigilonTherap SignalHillA SignatureBank SilenceTherap SilganHoldings Silicom SiliconLab SiliconMotion SilkRoadMed SilverSpikeInvt SilverbackTherap SilvercrestAsset SimmonsFirstNat SimulationsPlus SinclairBroadcast SingularGenomics SioGeneTherap SiriusXM SiTime SkyWest Skyworks SleepNumber SmartSand SmartShareGlbl SmileDirectClub Smith&Wesson SnapOne SoYoungIntl SoFiTech Sohu.com SolGelTech SolarEdgeTech SolidBiosci SolidPower SomaLogic Sonder Sono Sonos SophiaGenetics SoteraHealth SotherlyHotels SouthPlainsFin SouthState SouthernFirstBcsh SoMO Bancorp SouthernStBcsh SouthsideBcshs SovosBrands SpartanNash SpectrumPharm SperoTherap SpindletopHlth Splunk SpokHoldings Sportradar SportsmansWrhs SportsMapTech SpringBig SpringWorks SproutsFarmers SpruceBio StaarSurgical Stagwell StdBioTools StarBulkCarriers StarEquity Starbucks StealthBioTher StealthGas SteelDynamics StepStone Stericycle SterlingCheck SterlingInfr StevenMadden StitchFix StockYardsBncp StokeTherap StoneCo StoneX Stratasys StrategicEd Strattec StratusProp StrongholdDig SummitFin SummitStateBk SummitTherap SumoLogic SunCountryAir SunOpta SunPower SunRun SuperMicroComp SuperiorGroup SupernusPharms SurfaceOncol Surgalign SurgeryPartners Surmodics SutroBioph SwiftmergeAcqn SwiftmergeA Swvl Symbotic Synalloy Synaptics Synchronoss SyndaxPharm SyneosHealth Synlogic Synopsys SyprisSolutions SyrosPharm TCR2 Therap TelaBio TFF Pharm TFS Fin TGVentureAcqn TKBCriticalTech1 TLGY Acqn A TMCthemetals T-MobileUS TPG TPIComposites TRowePrice TTEC TTM Tech Taboola TabulaRasaHlth TactileSystems TakeTwoSoftware TalarisTherap TalisBiomed Talkspace Talon1AcqnA TandemDiabetes

Tick Sym Yld P/E

SGTX ... SGHL ... SBNY 1.2 SLN ... SLGN 1.5 SILC ... SLAB ... SIMO 2.3 SILK ... SSIC ... SBTX ... SAMG 3.9 SFNC 3.5 SLP .5 SBGI 4.8 OMIC ... SIOX ... SIRI 1.4 SITM ... SKYW ... SWKS 2.3 SNBR ... SND ... EM ... SDC ... SWBI 1.9 SNPO ... SY ... SOFI ... SOHU ... SLGL ... SEDG ... SLDB ... SLDP ... SLGC ... SOND ... SEV ... SONO ... SOPH ... SHC ... SOHO ... SPFI 1.8 SSB 2.5 SFST ... SMBC 1.8 SSBK 1.7 SBSI 3.7 SOVO ... SPTN 2.8 SPPI ... SPRO ... SHCA ... SPLK ... SPOK17.8 SRAD ... SPWH ... SMAP ... SBIG ... SWTX ... SFM ... SPRB ... STAA ... STGW ... LAB ... SBLK23.1 STRR ... SBUX 2.5 MITO ... GASS ... STLD 2.0 STEP 2.9 SRCL ... STER ... STRL ... SHOO 2.4 SFIX ... SYBT 1.9 STOK ... STNE ... SNEX ... SSYS ... STRA 3.4 STRT ... STRS ... SDIG ... SMMF 2.5 SSBI 3.2 SMMT ... SUMO ... SNCY ... STKL ... SPWR ... RUN ... SMCI ... SGC 3.0 SUPN ... SURF ... SRGA ... SGRY ... SRDX ... STRO ... IVCPU ... IVCP ... SWVL ... SYM ... SYNL ... SYNA ... SNCR ... SNDX ... SYNH ... SYBX ... SNPS ... SYPR ... SYRS ... TCRR TELA TFFP TFSL TGVC USCT TLGY TMC TMUS TPG TPIC TROW TTEC TTMI TBLA TRHC TCMD TTWO TALS TLIS TALK TOAC TNDM

... ... ... 8.0 ... ... ... ... ... 6.8 ... 4.0 1.4 ... ... ... ... ... ... ... ... ... ...

dd ... 11 dd 13 23 dd 13 dd dd dd 9 9 90 1 dd dd 18 96 12 12 10 dd dd dd 3 dd dd dd 1 68 92 dd dd dd dd dd 21 dd 43 dd 8 13 8 9 11 12 dd 15 dd dd 22 dd dd cc 5 ... 5 dd 12 dd cc cc dd 3 dd 21 dd dd 4 7 dd dd 9 12 dd 26 dd dd 10 dd 33 14 dd dd 8 7 dd dd 15 dd dd dd 12 12 22 dd dd dd dd dd ... ... dd dd 5 27 dd 51 31 dd 49 11 dd dd dd dd 62 dd 26 36 dd 61 ... dd 10 27 18 dd dd dd 37 dd dd dd ... cc

Last

Div Chg. Amt.

.89 9.92 192.14 11.88 42.45 34.06 145.08 81.71 39.63 9.25 4.35 17.63 21.57 49.77 20.99 3.76 .33 6.19 185.50 22.42 98.03 34.79 2.06 1.15 1.11 16.44 11.86 .93 6.13 16.87 4.72 286.34 .58 6.27 5.18 1.35 3.16 20.34 3.23 20.79 1.65 24.74 79.50 43.76 45.70 21.59 37.14 15.64 29.63 .88 .94 9.98 97.86 7.02 8.10 10.56 9.97 2.60 25.65 25.74 1.66 74.78 6.06 1.75 24.26 .97 78.11 .28 3.27 68.89 27.98 42.61 16.71 22.68 35.26 6.18 58.06 13.60 8.86 74.22 19.68 71.29 33.40 31.84 1.91 28.64 15.22 1.14 8.50 17.92 7.92 17.36 25.22 42.70 18.73 28.40 1.76 3.52 30.57 38.28 4.32 9.86 9.84 6.44 13.91 14.86 128.78 1.27 19.13 72.11 1.13 317.47 2.32 .89

+0.04 ... –0.07 ... +20.46 .56 +2.90 ... +2.45 .16 +1.39 ... +9.38 ... –2.50 .50 +5.11 ... –0.06 ... +0.32 ... –0.55 .17 +0.27 .19 +6.81 .06 +1.76 .25 +0.76 ... –0.04 ... +0.34 .022 +23.09 ... +1.32 ... +7.87 .56 +1.07 ... –0.26 ... –0.01 ... +0.08 ... +3.03 .08 +1.38 ... +0.02 ... +0.43 ... +1.72 ... –0.13 ... +10.93 ... +0.01 ... +0.02 ... +0.42 ... –0.17 ... +0.08 ... +1.27 ... +0.77 ... +1.87 ... +0.08 ... +0.83 .11 +4.94 .49 +0.39 ... +1.02 .20 +0.59 .09 +0.37 .34 +1.47 ... +0.26 .21 +0.09 ... ... ... –0.01 ... +9.16 ... +0.06.3125 –0.31 ... +0.83 ... +0.05 ... –0.29 ... +3.81 ... +0.80 ... +0.14 ... +11.37 ... –0.65 ... –0.07 ... –2.52 1.65 +0.16 ... +6.24 .49 –0.05 ... +0.06 ... –2.97 .34 +1.88 .20 +0.25 ... +0.48 ... +0.25 ... +2.51 .21 +0.10 ... –1.51 .28 +2.26 ... +0.76 ... +1.32 ... +1.74 ... +10.94 .60 +0.28 ... –1.95 ... +0.35 ... +1.23 .18 –0.27 .12 +0.16 ... +1.06 ... +0.31 ... +0.73 ... –0.57 ... +1.39 ... –0.42 ... +1.38 .14 +1.38 ... +0.24 ... –0.01 ... +2.15 ... +2.36 ... +0.46 ... ... ... ... ... –0.46 ... –2.89 ... –0.21 ... +12.74 ... +0.15 ... +2.29 ... +7.80 ... +0.09 ... +21.29 ... +0.16 ... –0.13 ...

2.86 7.00 5.69 14.19 9.91 10.12 9.97 1.06 137.08 25.77 13.47 121.50 70.11 12.44 2.80 3.23 7.67 133.62 7.91 .81 1.89 10.05 61.52

+0.37 ... +0.97 ... +0.07 ... +0.80.2825 –0.01 ... –0.03 ... –0.02 ... –0.07 ... +9.49 ... +1.64 .44 –0.22 ... +14.82 1.20 +6.29 .50 –0.25 ... +0.25 ... +0.81 ... +0.56 ... +7.81 ... –0.07 ... –0.03 ... +0.31 ... –0.02 ... +5.11 ...

52-Week High Low

18.84 15.35 10.03 31.00 85.49 10.44 26.25 10.10 111.44 13.40 48.35 35.42 208.99 63.61 32.00 168.91 13.77 26.81 1243.49 8.32 192.91 71.60 202.26 102.20 33.36 64.00 16.06 24.54 30.50 2.58 10.13 34.43 31.32 44.11 12.97 16.84 19.24 29.99 38.58 32.89 2.50 15.07 49.13 34.79 241.54 114.09 102.33 17.18 101.05 7.00 35.37 64.58 16.72 31.65 32.30 16.20 23.76 3.73 12.45 47.47 38.72 96.49 3.05 20.26 36.98 42.62 19.75 136.01 3.70 5.97 158.25 37.10 35.30 14.71 2.50 82.48 33.58 79.84 13.68 18.20 139.99 64.00 46.52 31.36 U 94.80 112.24 31.67 18.75 153.79 10.31 10.97 32.62 438.63 60.84 104.38 8.96 22.06 5.17 37.99 38.80 54.57 37.71 39.80 39.32 37.26 26.09 8.74 242.93 14.60 31.37 4.97 237.00 53.07 30.68 12.20 5.00 31.93 29.70 42.52 401.49 64.49 42.10 19.66 8.62 133.87 2.00 4.32 V 2.38 10.29 23.66 14.63 65.42 3.82 11.00 17.99 10.17

FOREIGN MARKETS Last

Div Chg. Amt.

3.71 1.46 9.73 10.80 14.38 5.25 2.33 9.89 56.83 7.26 11.01 6.54 35.15 38.77 4.74 85.66 1.45 20.30 620.46 5.08 118.55 48.79 149.10 68.58 16.59 1.99 6.10 4.86 22.01 0.50 4.17 12.99 3.06 11.15 9.83 9.55 3.02 24.05 22.01 21.25 0.53 6.17 25.55 27.01 166.49 39.39 59.82 3.86 54.59 1.15 10.00 27.77 5.20 12.75 12.48 3.19 8.39 0.46 3.55 37.41 25.06 55.65 0.86 14.05 14.29 18.00 5.72 60.51 1.52 2.63 50.81 29.50 26.67 1.60 0.46 23.77 13.08 5.99 2.12 8.35 25.07 9.91 7.28 4.93

TangoTherap TarenaIntl TargetGlbl I A TarsusPharm TaskUs TatTechnologies TayshaGene Tech&TelecomA TechTarget Ericsson Telesat Telos 10xGenomics Tenable TenayaTherap Teradyne TernsPharm TerritBanc Tesla TesscoTech TetraTech TexasCapBcshs TexasInstruments TexasRoadhouse TheBancorp TherapeuticsMD TheravanceBio TheseusPharm ThirdCoastBcshs 36Kr ThorneHealthtech Thoughtworks ThredUp 360DigiTech ThriveAcqnA ThunderBridgeIV A TilrayBrands TimberlandBncp TitanMachinery TivityHealth TizianaLife Torm TowerSemi TowneBank TractorSupply TradeDesk Tradeweb TransActTechs Transcat TransCodeTherap TransMedics TravelCenters Travelzoo TravereTherap TreaceMed TreanInsurance TremorIntl TreviTherap Tricida TriCoBancshares TriMas Trimble TrinityBiotech TrinityCapital Trip.com TripAdvisor TritiumDCFC TriumphBancorp trivago TrueCar Trupanion TrustcoBank Trustmark TScanTherap Tuniu TurningPtTherap TurtleBeach TuSimple 23andMe TwinDisc TwistBiosci 2seventybio 2U TyraBiosciences

TNGX TEDU TGAA TARS TASK TATT TSHA TETE TTGT ERIC TSAT TLS TXG TENB TNYA TER TERN TBNK TSLA TESS TTEK TCBI TXN TXRH TBBK TXMD TBPH THRX TCBX KRKR THRN TWKS TDUP QFIN THAC THCP TLRY TSBK TITN TVTY TLSA TRMD TSEM TOWN TSCO TTD TW TACT TRNS RNAZ TMDX TA TZOO TVTX TMCI TIG TRMR TRVI TCDA TCBK TRS TRMB TRIB TRIN TCOM TRIP DCFC TBK TRVG TRUE TRUP TRST TRMK TCRX TOUR TPTX HEAR TSP ME TWIN TWST TSVT TWOU TYRA

... ... ... ... ... ... ... ... ... 2.1 ... ... ... ... ... .5 ... 4.4 ... ... .7 ... 2.9 2.4 ... ... ... ... ... ... ... ... ... 4.2 ... ... ... 3.5 ... ... ... ... ... 3.3 1.8 ... .4 ... ... ... ... ... ... ... ... ... ... ... ... 2.3 .6 ... ... 9.9 ... ... ... ... ... ... ... 4.6 3.1 ... ... ... ... ... ... ... ... ... ... ...

dd dd dd dd dd dd dd ... cc 10 ... dd dd dd dd 18 dd 11 cc dd 29 14 18 21 10 dd dd dd 23 dd 33 dd dd 3 30 cc dd 9 7 19 ... dd 29 11 23 cc 64 dd 41 dd dd 6 18 dd dd 15 10 dd dd 13 20 32 7 4 dd dd dd 16 67 dd dd 9 15 dd dd dd cc dd dd dd dd ... dd dd

4.63 4.79 9.88 15.35 17.84 5.88 3.96 9.96 70.56 7.83 13.13 8.28 49.63 50.24 6.16 97.12 2.27 20.78 737.12 5.84 136.97 53.84 155.95 76.95 19.68 9.90 8.99 6.02 22.90 .99 5.28 15.24 3.12 17.24 10.03 9.99 3.61 24.92 23.77 32.48 .82 13.64 46.74 28.27 202.97 49.49 74.08 4.15 61.55 1.28 31.30 34.74 6.78 24.19 15.26 6.31 9.01 2.22 9.66 44.40 27.01 61.01 1.36 15.29 23.65 19.32 6.87 65.16 1.59 2.81 63.26 30.68 29.71 3.06 .51 75.17 13.92 8.75 2.78 8.86 41.05 13.74 10.21 7.15

–0.10 ... +0.52 ... –0.03 ... +2.38 ... +2.35 ... +0.02 ... +1.15 ... +0.01 ... +3.59 ... +0.40.0894 –0.77 ... +0.16 ... +11.23 ... +4.62 ... +0.74 ... +8.06 .11 +0.35 ... –0.70 .23 +86.84 ... –0.02 ... +16.56 .23 +2.46 ... +5.75 1.15 +4.75 .46 +2.77 ... +0.02 ... +0.30 ... +0.25 ... –0.70 ... +0.05 ... +0.02 ... +0.84 ... –0.39 ... +1.75 .22 +0.01 ... +0.22 ... +0.41 ... +0.40 .22 –0.21 ... +0.35 ... +0.01 ... +0.59 ... +0.27 ... +0.79 .23 +14.24 .92 +3.19 ... +6.72 .08 +0.01 ... +3.24 ... +0.08 ... +5.09 ... +2.05 ... +0.79 ... –0.59 ... +0.55 ... –0.33 ... +0.31 ... +0.20 ... –0.61 ... –1.11 .25 +1.19 .04 +3.52 ... +0.09 ... +0.96 .15 +2.30 ... –0.08 ... +0.63 ... +2.03 ... –0.10 ... ... ... +11.20 ... +0.83 .35 +1.24 .23 –0.03 ... +0.02 ... +0.71 ... +0.23 ... +1.81 ... +0.27 ... +0.36 ... +9.89 ... +1.76 ... +1.81 ... +1.89 ...

64.13 81.57 13.01 10.53 104.25 9.72 0.66 9.66 319.05 27.74 45.20 4.24 15.77 1.83 25.31 12.52 30.54 26.00 31.74 27.62 19.85 13.68 7.24 158.38 9.47 21.32 0.57 103.15 24.09 15.86 6.87 0.59 24.40 2.68 12.39 25.43 14.85 17.81 4.85 1.80 80.31 0.61 0.36

UFP Inds UMB Fin USA Truck USCB Financial US Lime&Min UTA Acqn A uCloudlink Udemy UltaBeauty UltraClean UltragenyxPharm Ultralife Umpqua UnicoAmerican UnionBankshares uniQure UnitedAirlines UnitedBancshares UnitedBkshrsWV UtdCmtyBks UnitedFire UnitedGuardian UnitedSecBcshrs UnitedTherap Uniti UnityBancorp UnityBiotech UnivDisplay UnivElectro UnivLogistics UnivStainless UniversePharm UnivestFin UpFintech UplandSoftware Upstart Upwork UrbanOutfitters UroGenPharma Usio UtahMedProducts UTStarcom Uxin

UFPI UMBF USAK USCB USLM UTAA UCL UDMY ULTA UCTT RARE ULBI UMPQ UNAM UNB QURE UAL UBOH UBSI UCBI UFCS UG UBFO UTHR UNIT UNTY UBX OLED UEIC ULH USAP UPC UVSP TIGR UPLD UPST UPWK URBN URGN USIO UTMD UTSI UXIN

1.5 1.7 ... ... .7 ... ... ... ... ... ... ... 4.9 ... 5.5 ... ... 3.0 4.0 2.7 1.7 4.8 5.9 ... 6.0 1.7 ... 1.1 ... 1.5 ... ... 3.3 ... ... ... ... ... ... ... 1.3 ... ...

7 12 8 ... 16 ... dd dd 20 11 dd dd 9 dd 9 3 dd 8 14 12 10 16 11 17 14 7 dd 30 dd 8 32 1 9 dd dd 25 dd 7 dd dd 21 dd dd

67.35 88.03 31.00 11.88 109.88 9.92 1.07 11.57 410.54 30.42 60.57 4.99 17.31 2.12 25.50 19.11 38.51 27.74 35.60 30.55 37.12 15.29 7.46 238.95 10.01 25.82 .59 113.67 28.08 28.32 7.17 .66 25.53 4.88 15.76 40.95 22.20 21.03 8.20 2.37 86.97 .86 .51

+2.22 +3.20 +16.88 –1.36 +0.37 –0.05 +0.08 –0.69 +14.71 +1.75 +7.28 +0.25 +1.24 –0.02 –0.35 +5.00 +2.23 –1.06 +1.50 +1.61 +4.55 –0.81 –0.07 +19.57 ... –1.42 ... +6.31 +2.70 +2.01 +0.17 –0.27 +0.25 +0.83 +1.78 +5.81 +3.34 +0.06 +1.60 –0.31 +3.32 +0.06 +0.10

0.24 9.82 3.51 5.85 33.66 0.34 2.42 2.97 9.85

VEON VMGConsumerA VNET VOXX Intl VSE VyneTherap Vacasa Vaccitech VahannaTechI A

VEON VMGA VNET VOXX VSEC VYNE VCSA VACC VHNA

... ... ... ... 1.1 ... ... ... ...

Name

Tick Sym Yld P/E

52-Week High Low

15.10 67.84 10.50 21.86 32.65 73.46 2.59 8.79 27.44 22.77 13.21 32.40 11.85 26.00 3.37 12.58 37.11 54.13 4.43 56.39 257.03 231.57 45.36 37.14 7.25 14.79 14.30 22.88 293.17 78.00 12.35 31.74 68.76 15.60 18.14 164.76 43.09 8.79 8.25 18.27 7.20 25.09 52.06 15.47 12.38 8.59 58.00 12.75 4.17

Tick Sym Yld P/E

Name

10.28 13.71 9.97 9.24 18.90 27.97 1.10 2.20 16.78 1.59 2.74 18.64 1.13 9.50 0.49 4.28 12.29 14.85 1.00 39.83 155.25 156.05 27.28 5.72 3.41 1.77 7.41 9.44 176.36 10.70 7.10 4.59 29.05 9.66 12.95 52.17 23.36 0.37 2.39 2.18 2.02 21.25 6.28 8.75 7.48 1.14 18.21 1.82 2.63

ValleyNatlBncp Valneva ValuenceI A VandaPharm VarexImaging VaronisSystems VascularBiogenics VastaPlatform Vaxcyte Vaxxinity VectivBio VeecoInstr VelodyneLidar VentyxBiosciences VenusConcept VeraBradley VeraTherap Veracyte Verastem VerintSystems VeriSign VeriskAnalytics Veritex Veritone VeronaPharma VerricaPharm VersaBank Vertex VertxPharm VerveTherap ViaRenewables ViantTech ViaSat Viatris ViaviSolutions Vicor VictoryCapital View ViewRay VigilNeurosci VikingTherap VillageSuper A Vimeo VinciPartners VintageWineEstates ViomiTech VirBiotech ViractaTherap VircoMfg

1 .48 +0.02 ... ... 9.92 +0.01 ... 9 6.26 +0.60 ... dd 9.01 +1.03 ... 50 35.43 +1.26 .10 dd .50 –0.01 ... dd 3.27 +0.37 ... ... 5.90 +1.19 ... ... 9.94 –0.02 ...

9 ... ... 34 29 dd dd dd dd dd dd 31 dd dd dd 13 dd dd dd dd 24 28 11 dd dd dd 11 dd 31 dd 6 dd dd 80 dd 58 7 dd dd ... dd 14 dd 16 cc dd 3 dd dd

Last

Div Chg. Amt.

10.52 27.27 10.06 10.70 20.58 34.92 1.49 5.30 19.50 1.61 5.57 20.01 1.23 13.38 .49 4.88 14.20 22.74 1.26 43.83 169.27 172.99 29.92 6.68 4.48 2.11 7.58 11.82 292.55 16.90 7.27 5.82 31.70 10.96 13.66 60.37 26.40 1.89 2.87 2.91 2.88 23.16 6.95 10.98 9.00 1.83 24.84 2.96 3.90

–0.03 .11 +13.56 ... +0.03 ... +1.13 ... +0.19 ... +5.31 ... +0.13 ... +0.46 ... –0.69 ... –0.47 ... –0.03 ... +1.04 ... –0.04 ... –0.62 ... –0.03 ... +0.23 ... +0.28 ... +5.74 ... +0.16 ... +2.08 ... +11.73 ... +11.17 .31 –0.63 .20 +0.53 ... +0.29 ... –0.14 ... –0.21.0198 +1.76 ... +29.46 ... +4.25 ... +0.13.1813 ... ... +1.07 ... +0.50 .12 +0.55 ... +5.27 ... +0.86 .25 +0.04 ... +0.22 ... +0.41 ... +0.63 ... +0.31 .25 +0.22 ... +1.04 .17 –0.11 ... +0.20 ... +0.31 ... +0.38 ... +0.23 ...

52-Week High Low

11.28 38.63 338.80 9.95 10.04 134.57 18.61 21.83 18.79 14.35 19.05 20.92 23.54 10.60 44.82 W 7.30 279.98 56.30 37.12 2.28 55.00 34.42 31.88 50.23 38.06 60.96 22.74 39.45 40.16 64.70 19.90 9.94 0.30 24.48 21.67 48.79 38.37 34.50 63.43 9.94 72.15 9.98 5.75 32.45 43.22 44.71 249.70

Last

Div Chg. Amt.

2.59 22.51 161.31 9.78 9.73 88.82 7.51 8.05 11.30 7.02 14.42 12.85 3.83 2.46 1.03

VirginOrbit VirtuFinancial VirtusInvtPtrs ViscogliosiBros VisionSensingA Visteon VitaCoco VitalFarms Vitru VividSeats Vodafone Vonage VorBiopharma VoyagerTherap Vroom

VORB VIRT VRTS VBOC VSAC VC COCO VITL VTRU SEAT VOD VG VOR VYGR VRM

Tick Sym Yld P/E

... 4.0 3.2 ... ... ... ... ... ... .0 6.1 ... ... ... ...

dd 8 7 ... ... 66 44 dd 57 dd 19 dd dd dd dd

3.23 23.72 190.26 9.84 10.02 108.05 10.59 8.94 17.25 8.14 15.66 17.68 6.00 5.76 1.46

–0.28 ... +0.65 .24 +19.61 1.50 ... ... –0.01 ... +11.68 ... –0.04 ... –0.12 ... –0.05 ... +0.14 .23 +0.17.4725 +0.90 ... +1.28 ... +0.76 ... +0.26 ...

1.16 170.01 37.03 6.01 0.14 39.14 7.60 13.30 24.19 29.01 45.60 15.70 24.25 13.83 18.62 1.19 9.72 0.09 15.77 3.42 36.29 30.21 22.88 53.24 9.87 43.85 7.13 0.95 21.08 23.11 30.22 187.89

WaveLifeSci WD-40 WSFS Financial WW Intl Waitr WalgreensBoots WalkMe WarnerBrosA WarnerMusic WashingtonFederal WashTrBcp WaterstoneFinl WaysideTech WeatherfordIntl Weibo Wejo WelsbachTech WelsbachTechRt Wendy's WerewolfTherap WernerEnterprises WesBanco WestBancorp WestamericaBncp WesternAcqn WesternDigital WestNewEngBncp WestportFuelSys WeycoGroup Willdan WillisLease WillisTowers

WVE WDFC WSFS WW WTRH WBA WKME WBD WMG WAFD WASH WSBF WSTG WFRD WB WEJO WTMA WTMAR WEN HOWL WERN WSBC WTBA WABC WAVS WDC WNEB WPRT WEYS WLDN WLFC WTW

... 1.5 1.3 ... ... 4.6 ... ... 2.3 3.1 4.4 4.5 2.0 ... ... ... ... ... 2.6 ... 1.4 4.2 4.1 2.9 ... ... 3.2 ... 3.4 ... ... 1.6

dd 42 9 7 dd 6 dd 7 37 11 12 8 14 dd 18 dd ... ... 22 dd 10 10 8 17 ... 8 7 7 12 dd dd 7

2.82 205.40 40.46 7.27 .15 41.65 10.60 14.28 26.19 30.49 48.99 17.61 34.40 22.35 23.82 1.29 9.90 .13 19.13 4.70 38.26 32.21 24.38 57.30 9.90 47.07 7.50 1.13 28.60 28.15 37.67 204.95

+0.85 ... +23.49 .78 +0.43 .13 +0.62 ... –0.01 ... +2.33.4775 +1.13 ... +0.06 ... +1.10 .15 +0.64 .24 +0.25 .54 +0.98 .20 +1.16 .17 –5.60 ... +2.24 ... –0.13 ... –0.01 ... +0.01 ... +1.37 .125 +0.63 ... +1.07 .13 +0.72 .34 +0.91 .25 +0.67 .42 –0.04 ... +0.72 ... +0.25 .06 +0.03 ... –1.64 .24 +4.22 ... +2.35 ... +11.02 .82

Name

52-Week High Low

5.97 187.35 277.99 105.56 6.92 18.74 309.00 129.12 307.81 265.75 9.91 125.17 XYZ 39.02 53.08 18.46 3.25 76.63 43.61 36.42 4.98 24.99 27.95 97.57 10.01 22.67 4.80 39.82 15.24 53.77 1.80 178.91 34.30 615.00 87.19 135.00 124.90 124.70 9.90 50.40 75.44 406.48 79.17 3.04 376.11 55.10 42.99 6.07 16.26

Tick Sym Yld P/E

Name

Div Chg. Amt.

Last

1.58 67.67 183.94 65.66 5.06 2.40 53.12 87.59 134.53 107.96 9.70 50.20

WiMiHologram Wingstop Winmark WintrustFin WisdomTreeInvs WISeKey Wix.com Woodward Workday WorldAcceptance WorldwideWebbA WynnResorts

WIMI WING WINA WTFC WETF WKEY WIX WWD WDAY WRLD WWAC WYNN

... .8 1.4 1.6 2.2 ... ... .8 ... ... ... ...

dd 66 19 12 48 dd dd 35 dd 15 cc dd

2.25 83.58 202.60 82.49 5.46 2.71 68.89 93.75 152.05 124.30 9.84 58.29

+0.22 +6.98 +10.10 +4.22 +0.14 +0.25 +8.46 +3.67 +12.67 +8.66 ... +3.33

16.96 17.89 5.09 0.95 61.16 19.36 14.65 1.25 15.37 2.04 26.61 1.92 13.39 1.08 6.50 2.82 37.52 0.50 22.51 9.93 287.93 17.33 68.42 28.76 28.61 9.58 15.83 47.06 79.03 30.31 0.66 125.12 26.27 1.10 0.84 4.97

XOMA XP XBiotech XcelBrands XcelEnergy Xencor XenonPharms XerisBiopharma Xerox XilioTherap Xometry Xos Xperi Xunlei Y-mAbsTherap Yellow YorkWater Yunji ZaiLab ZealandPharma ZebraTech ZentalisPharm ZiffDavis Zillow A Zillow C ZimmerEnerA ZimVie ZionsBancorp ZoomVideo ZoomInfoTech Zovio Zscaler Zumiez Zymergen ZynerbaPharma Zynex

XOMA XP XBIT XELB XEL XNCR XENE XERS XRX XLO XMTR XOS XPER XNET YMAB YELL YORW YJ ZLAB ZEAL ZBRA ZNTL ZD ZG Z ZT ZIMV ZION ZM ZI ZVO ZS ZUMZ ZY ZYNE ZYXI

... ... .0 ... 2.8 ... ... ... 6.3 ... ... ... 1.3 ... ... ... 2.0 ... ... ... ... ... ... ... ... ... ... 2.9 ... ... ... ... ... ... ... .0

40 16 dd dd 23 15 dd dd dd dd dd 11 dd ... dd dd 30 16 dd dd 20 dd 8 dd dd 31 ... 9 30 cc dd dd 7 dd dd 17

20.80 19.74 5.86 1.14 68.56 27.12 31.00 1.63 15.79 2.39 35.48 2.15 14.83 1.54 14.81 3.44 39.77 1.14 34.22 13.96 308.91 28.34 76.58 35.69 35.46 9.70 16.18 53.33 122.64 37.71 1.10 170.82 28.53 1.50 1.25 7.93

+3.09 ... +0.96 ... +0.73 2.50 –0.11 ... +4.65.4875 +4.10 ... +0.52 ... –0.19 ... –0.17 .25 +0.31 ... +0.07 ... –0.37 ... +0.84 .05 +0.22 ... +3.31 ... +0.47 ... +1.61.1949 +0.13 ... +6.49 ... +1.63 ... +20.45 ... +6.23 ... +4.44 ... +6.00 ... +6.19 ... ... ... –1.92 ... +1.07 .38 +12.64 ... +4.71 ... ... ... +26.60 ... +0.75 ... +0.07 ... +0.10 ... +0.33 .10

Europe

Asia

Storm Petrol: The Bank of England hiked rates, but tight supplies supported British energy and mining shares.

Priced to Move: As the yen fell to a 24-year low against the dollar, Japan’s bankers expect exports to rise.

S&P Europe BMI Denmark Netherlands Switzerland France U.K. Italy Spain Belgium -0.29 -0.30 -1.36

.25 .37 ... ... .20 ... ... ... ... ... ... ... .21 ... .35 ... ... .21 .36 .21 .16 .37 .11 ... .15 .11 ... .30 ... .105 ... ... .21 ... ... ... ... ... ... ... .29 ... ...

VLY 4.2 VALN ... VMCA ... VNDA ... VREX ... VRNS ... VBLT ... VSTA ... PCVX ... VAXX ... VECT ... VECO ... VLDR ... VTYX ... VERO ... VRA ... VERA ... VCYT ... VSTM ... VRNT ... VRSN ... VRSK .7 VBTX 2.7 VERI ... VRNA ... VRCA ... VBNK 1.0 VERX ... VRTX ... VERV ... VIA 10.0 DSP ... VSAT ... VTRS 4.4 VIAV ... VICR ... VCTR 3.1 VIEW ... VRAY ... VIGL ... VKTX ... VLGEA 4.3 VMEO ... VINP 7.6 VWE ... VIOT ... VIR ... VIRX ... VIRC ...

-1.61 -2.55

S&P Pan Asia BMI China New Zealand India Hong Kong Australia Japan Singapore Indonesia Thailand

2.28% 5.06 4.67 3.63 3.12 2.62 1.51 1.46 0.11

Germany Greece Sweden Finland Norway

-1.18 -1.83 -2.39 -3.17

1.49% 4.61 3.31 2.41 2.30 1.68 1.64 1.50 0.94 0.54

Malaysia Philippines Taiwan South Korea

Indexes based on S&P Global Broad Market Indices

Source: S&P DJ Indices

Key Foreign Stock Market Indexes Year-to-Date Chg. % Chg.

Most Recent Close

Week’s %Chg.

Amsterdam AEX

660.32

+3.86

–137.61

–17.25

Athens General

834.83

+1.14

–58.51

–6.55

1568.76

+0.60

–88.86

Bombay Sensex

52727

+2.66

Brussels Bel-20

Bangkok SET

Year-to-Date Chg. % Chg.

Most Recent Close

Week’s %Chg.

23637

–0.82

–6303.94

–21.05

Moscow RTS

1414.96

+7.57

–180.80

–11.33

–5.36

Oslo Composite

1326.89

–3.58

+19.20

+1.47

–5525.85

–9.49

Paris CAC

6073.35

+3.24

–1079.68

–15.09 +9.44

Milan FTSE All Share

3685.55

–0.78

–624.60

–14.49

Santiago Selective

3071.19

–1.65

+265.02

Buenos Aires Merval

82605

–5.12

–894.47

–1.07

Sao Paulo Bovespa

98672

–1.15

–6150.18

–5.87

Copenhagen OMX 20

1654.89

+5.29

–209.09

–11.22

Seoul Composite

2366.60

–3.05

–611.05

–20.52

Dublin ISEQ

6324.37

–2.95

–2120.15

–25.11

Shanghai Composite

3349.75

+0.99

–290.03

–7.97

391.28

+1.84

–87.56

–18.29

Shenzhen B Share Idx

1188.16

+3.17

+14.36

+1.22

3533.17

+2.75

–765.24

–17.80

Singapore FTSE STI

3111.65

+0.44

–12.03

–0.39

Frankfurt DAX

13118

–0.06

–2766.73

–17.42

Stockholm OMXS

735.09

–1.30

–302.05

–29.12

Helsinki OMHX

10216

–1.43

–2646.00

–20.57

STOXX Europe 50 SXSP

3488.17

+3.76

–330.29

–8.65

Hong Kong Hang Seng

21719

+3.06

–1678.61

–7.17

STOXX Europe 600 SXXP

412.93

+2.40

–74.87

–15.35

Istanbul IMKB

2554.08

+0.82

+696.43

+37.49

6578.70

+1.60

–865.94

–11.63

Jakarta Composite

7042.94

+1.53

+461.46

+7.01

Taipel Weighted

15303

–2.16

–2915.52

–16.00

Johannesburg All Share

66348

+1.46

–7360.64

–9.99

Tel Aviv 125 Index

1890.68

+1.13

–165.83

–8.06

Kuala Lumpur Composite

1436.70

–1.38

–130.83

–8.35

Tokyo Nikkei-225

26491

+2.04

–2299.74

–7.99

LISBON PSI

4493.81

+2.85

+309.63

+7.40

Toronto S&P/TSX

19062

+0.70

–2159.93

–10.18

London FTSE - 100

7208.81

+2.74

–175.73

–2.38

Vienna ATX

2967.94

–1.46

–893.12

–23.13

Madrid IBEX 35

8244.10

+1.21

–469.70

–5.39

Wellington S&P/NZX 50

10813

+2.12

–2219.85

–17.03

Manila Composite

6217.56

–1.80

–905.07

–12.71

Zurich Swiss

10823

+3.56

–2052.54

–15.94

47741

–0.57

–5530.94

–10.38

Indexes are based on local currencies. Because of various holidays and other market closings, the most recent close is not necessarily that of the week of publication.

EURO STOXX SXXE EURO STOXX 50 SXSE

Mexico City IPC

Sydney S&P/ASX 200

... .17 .70 .34 .03 ... ... .19 ... ... ... ...

BARRON’S

TOP 500 EXCHANGE-TRADED PORTFOLIOS

D ATA

NOTICE TO READERS: Listed are the top 500 ETF’s based on weekly volume. Name

Tick Sym

Yld

Last

Div Chg. Amt.

Bats ARKGenomicRev BlkRkShMaturityBd BlkRkUltShtBd CambriaTailRiskETF DimenIntlCore2 DimenIntlHiProf FTCboeVestFdDpBf FTCboeUSDeepJun GlbXRuss2000Cvr GlbXUSInfrDevt GS PhysGold iPathS&P500VIX iShBrdUSDHYCpBd iShConvBond iShCoreMSCIEAFE iShCurrHdgMSCIEAFE iShIntlSelDividend iShUSAerospace&Def iShUSHomeConstrn iShUSOil&GasExpln iShUSTelecomm iShEdgeMSCIMinEAFE iShEdgeMSCIMinVlEM iShEdgeMSCIMinUSA iShEdgeMSCIUSAMom iShEdgeMSCIUSAQual iShEdgeMSCIUSAVal iShExpTechSftwr iShMtgRealEstCap iShFloatingRateBd iShMSCIChileCapped iShMSCIEurozone iShMSCIEAFEGrowth iShMSCIIndiaETF iShMSCIEAFEValue iShNorthAmNatRscs iShUSTreasuryBdETF JPMBetaDevAPxJ JPMBetaEurope JPMBetaJapan JPMorganDisciplHY JPM UltShtIncm JPMUltShMuni -1xShVIXFutures PacerTrendpilot750 PacerUSCashCows100 ProShS&P500Arist ProShShtVIXST ProShUltVIXST ProShsVIXSTFut 2xLongVIXFut VanEckAMTFrIntMuni VanEckHYMuni VanEckMstrWdMoat VangdESGUSStk VangdUltShrtBd

ARKG NEAR ICSH TAIL DFIC DIHP BUFD DJUN RYLD PAVE AAAU VXX USHY ICVT IEFA HEFA IDV ITA ITB IEO IYZ EFAV EEMV USMV MTUM QUAL VLUE IGV REM FLOT ECH EZU EFG INDA EFV IGE GOVT BBAX BBEU BBJP JPHY JPST JMST SVIX PTLC COWZ NOBL SVXY UVXY VIXY UVIX ITM HYD MOAT ESGV VUSB

.0 .7 .5 .8 2.0 2.4 ... ... 13.8 .6 ... ... 5.8 1.5 4.5 3.4 7.0 .8 .8 2.9 2.7 2.7 2.0 1.4 1.1 1.4 3.1 .0 7.8 .5 7.8 4.4 2.1 7.3 5.8 2.7 1.2 7.4 5.4 3.5 5.4 .7 .3 ... .8 1.8 2.1 ... ... ... ... 1.8 3.9 1.2 1.3 .5

34.62 49.25 50.02 17.01 21.96 21.73 19.76 32.02 20.54 23.35 18.12 23.12 35.39 71.36 60.03 32.28 27.58 98.43 53.54 78.30 25.76 63.72 55.55 71.41 137.10 116.06 93.07 289.22 27.40 50.14 24.54 37.58 82.09 39.94 44.33 36.21 23.73 47.90 47.08 44.79 44.39 50.07 50.59 10.50 37.56 44.55 87.07 48.41 14.39 18.08 16.89 45.18 53.00 66.86 68.97 49.24

+5.30 ... +0.02 –0.94 +0.44 +0.57 +0.45 +0.81 +0.29 +0.82 –0.13 –1.54 +0.46 +3.10 +2.12 +1.02 +0.23 +4.44 +4.38 –2.53 +1.23 +2.35 +1.03 +4.49 +6.85 +7.44 +4.67 +26.92 +2.51 +0.09 –1.24 +1.20 +4.08 +1.17 +0.95 –0.43 +0.13 +0.72 +0.23 +1.36 +0.50 –0.01 +0.02 +0.76 +0.02 +1.18 +4.63 +1.83 –1.80 –1.52 –2.96 +0.21 +0.32 +4.82 +4.64 +0.06

.3824 .0415 .0283 .0507 .1087 .1293 ... ... .2022 .0992 ... ... .1609 .069 1.3319 .6012 .6489 .2784 .1016 .5754 .1529 1.1093 .2704 .2217 .3729 .4216 .6833 .0234 .6508 .0422 1.1345 .9278 .882 .0301 1.3785 .2292 .0269 .9468 1.5475 1.5902 .2003 .0459 .03 ... .3052 .2125 .3883 ... ... ... ... .0721 .1539 .8227 .2081 .0413

TARK ... USOI 31.0 ONEQ .8 SKYY 1.2 MDIV 6.0 FTSM .4 FTGC 6.1 FTRI 7.6 LMBS 2.0 FMB 2.2 CIBR .8 RDVY 1.4 FTSL 3.7 FIXD 1.7 CLOU ... QYLD 12.5 BOTZ .3 PDBC 38.2 BSCP 1.8 BSCO 1.8 BSCN 1.4 BSCM 1.4 KBWB 3.0 QQQM .6 QQQ .6 PSCE .8 IEI .8 IBB .3 USIG 2.7 IXUS 4.0 ISTB 1.6 IUSG .9 IUSV 2.2 IUSB 2.0 DVY 3.1 ESGD 3.9 ESGE 3.4 ESGU 1.4 SUSL 1.4 FALN 4.1

22.94 5.15 45.39 71.66 15.27 59.39 27.47 13.24 48.21 50.34 42.87 42.01 44.81 46.13 18.14 17.62 21.59 18.72 20.38 20.72 20.95 21.18 53.74 121.41 294.61 8.90 118.53 120.04 50.92 58.00 47.33 87.56 68.21 46.63 118.54 64.02 32.90 86.90 68.95 25.13

+6.43 –0.38 +3.18 +8.07 +0.37 –0.01 –1.13 –0.66 +0.01 +0.08 +3.82 +1.51 –0.10 +0.29 +2.00 +0.29 +0.87 –0.66 +0.07 +0.02 +0.01 –0.01 +1.86 +8.41 +19.92 –0.28 +0.93 +10.48 +0.23 +1.75 +0.25 +6.33 +3.33 +0.31 +5.33 +2.38 +0.83 +5.51 +4.60 +0.32

... .2529 .09 .0362 .0974 .042 .0073 .2798 .0775 .10 .0033 .2216 .1525 .08 ... .1735 .0593 1.7574 .0372 .0363 .0236 .0232 .445 .2052 .5274 .0343 .1006 .0305 .1259 .9481 .0725 .1996 .3701 .0918 .867 1.396 .2762 .2759 .2193 .0989

NASDAQ AXS2XInnovation CSX-LinksCrudeOil FidelityNasdaq FT CloudComp FT MultAsstDiv FT EnhShtMat FT GlTactCommod FT GlbNatRscs FT LowDurOpp FT MgdMuni FT NasdCybersec FTRisingDivAch FT SrLoanFd FT TCW Opp GlbXCloudComp GlbXNasd100Cv GlbX Robotics&AI InvscActMgdETC InvscBull2025CpBd InvscBull2024CpBd InvscBull2023CpBd InvscBull2022CpBd InvscKBWBank InvscNasd100 InvscQQQI InvscS&PSCEner iSh3-7YTreasuryBd iShBiotech iShBrdUSDInvCpBd iShCoreMSCITotInt iShCore1-5YUSDBd iShCoreS&PUSGrowth iShCoreS&PUSValue iShCoreTotalUSDBd iShSelectDividend iShESGAwareMSCI iShESGAwareEM iShESGAwareUSA iShESGIUSALdrs iShFallAngelsUSDBd

June 27, 2022

Name

iSh5-10YIGCorpBd iShGSCICmDynRoll iShGlbCleanEnergy iShJPMUSDEmgBd iShMBSETF iShMSCI ACWI iShMSCIACWIxUS iShMSCIACxJpn iShMSCIChina iShMSCI EAFE SC iShMSCIEMxChina iShMSCIEuropeFinls iSh1-5YIGCorpBd iShPfd&Incm iShGlobalInfra iShSemiconductor iShShortTreaBd iSh1-3YTreasuryBd iSh7-10YTreasuryBd iSh20+YTreasuryBd iSh0-5YInvGrdCpBd ProShUltPrQQQ ProShUltShtQQQ TuttleCapSht ValkyrieBitcoin VanEckGlFallAnglHY VanEckSemicon VangdEM GovBd VangdGlblxUS RE VangdIntrCorpBd VangdIntermTrmTrea VangdIntlHiDiv VangdLTCorpBd VangdLong-TermTrea VangdMBS VangdRuss1000Grw VangdRuss1000Val VangdRuss2000 VangdSTCpBd VangdShtTmInfltn VangdShortTermTrea VangdTotalBd VangdTotIntlBd VangdTotIntlStk WisdTrCloud WisdTrUSQltyDiv

Tick Sym

IGIB COMT ICLN EMB MBB ACWI ACWX AAXJ MCHI SCZ EMXC EUFN IGSB PFF IGF SOXX SHV SHY IEF TLT SLQD TQQQ SQQQ SARK BTF ANGL SMH VWOB VNQI VCIT VGIT VYMI VCLT VGLT VMBS VONG VONV VTWO VCSH VTIP VGSH BND BNDX VXUS WCLD DGRW

Yld

Last

Div Chg. Amt.

2.7 13.1 1.4 5.0 1.1 2.2 3.8 2.5 1.1 4.6 2.7 6.7 1.6 4.9 2.5 1.0 .1 .4 1.2 2.0 1.5 ... ... ... ... 4.4 ... 5.1 6.4 2.6 1.3 5.3 4.0 2.4 1.5 .8 1.9 1.4 1.6 5.6 .4 2.2 3.4 3.8 ... 2.0

51.07 41.81 19.41 86.49 96.44 86.31 45.76 70.10 55.81 55.82 48.66 16.19 50.46 32.99 46.95 372.90 110.06 82.64 101.15 112.56 48.38 27.98 51.01 56.55 8.19 27.51 216.16 62.00 44.93 80.03 60.65 59.46 81.44 68.89 47.39 59.06 65.43 70.85 76.09 50.45 58.76 74.83 49.22 52.46 31.21 58.50

+0.38 –1.26 +0.79 +0.56 +0.89 +4.38 +1.40 +2.14 +3.03 +1.46 +0.25 +0.43 +0.21 +0.94 +1.67 +18.86 +0.05 +0.26 +0.95 +0.48 +0.17 +5.31 –12.95 –10.92 +0.30 +0.38 +10.51 +0.43 +1.47 +0.71 +0.52 –0.22 +0.53 +0.29 +0.50 +4.48 +3.22 +3.96 +0.29 +0.23 +0.19 +0.49 +0.40 +1.03 +4.10 +3.07

.1174 5.4941 .1403 .3349 .1623 .8468 .8374 .1305 .312 1.125 .5071 .6705 .0732 .146 .705 .628 .0566 .0647 .1293 .2074 .064 ... ... ... ... .1097 ... .2568 2.8949 .1923 .0727 1.1166 .2916 .1469 .0805 .1148 .3005 .1219 .1159 .4869 .0402 .148 .0419 .5893 ... .19

ACES .8 ARKK .0 ARKW .0 SGOL ... SIVR ... MSOS .0 AMLP 8.4 DIVO 5.2 BLOK 28.3 ARKF ... AVEM 3.3 AVDE 3.5 AVUS 1.5 AVUV 1.6 CGDV .5 CGGO ... CGGR ... XLC 1.1 XLY .8 XLP 2.5 DFCF 1.5 DFAE 2.3 DFEM 1.2 DFAI 2.9 DFIV 5.1 DFAU 1.3 DFAC 1.4 DUHP .6 DFUV 1.9 DFAS 1.1 DFSV .4 DFAT 1.6 DFAX 3.0 DFEN .0 CWEB ... WEBS ... WEBL ... EDZ ... ERY ... ERX 2.3 YANG ... YINN .4 FAZ ... FAS .9 DUST ... NUGT ... NAIL ... JDST ... JNUG ... DRV ... DRN 1.4 SPXS ... SPXL .3 LABD ... LABU ... SPDN ...

51.37 45.83 56.62 17.49 20.34 11.34 34.27 34.27 20.29 17.85 52.67 51.96 66.99 70.07 22.79 20.69 20.89 56.94 146.99 72.85 43.39 23.37 23.75 24.55 29.33 27.26 23.95 23.18 32.05 49.11 23.07 41.14 21.76 15.09 75.68 40.44 10.53 13.13 52.68 47.13 11.02 98.17 26.61 68.87 17.96 40.44 26.07 11.42 41.52 47.17 15.54 24.17 72.69 34.93 7.57 16.50

+2.73 +7.03 +8.54 –0.13 –0.51 –0.28 +0.25 +1.45 +1.79 +2.48 +0.41 +0.22 +3.15 +1.21 +0.96 +1.14 +1.31 +3.10 +10.89 +4.02 +0.29 +0.24 +0.17 +0.38 –0.36 +1.50 +1.16 +1.24 +1.13 +2.12 +0.79 +1.28 +0.15 +1.85 +9.31 –15.24 +2.70 –1.13 +0.57 –2.09 –1.87 +12.79 –4.85 +9.97 +0.68 –2.07 +5.70 +0.62 –2.98 –12.44 +3.06 –5.40 +12.22 –18.73 +2.36 –1.10

.1287 .7826 3.3143 ... ... .07 .73 .1409 5.7502 ... .5232 .9549 .263 .2968 .0293 ... ... .1299 .3142 .5129 .0803 .1311 .0685 .3288 .6704 .0902 .0897 .0611 .1524 .1383 .0445 .1708 .2814 .0017 ... ... ... ... ... .3824 ... .0674 ... .3575 ... ... ... ... ... ... .0446 ... .0776 ... ... ...

NYSE ARCA ALPSCleanEnergy ARKInnovationETF ARK NextGen abrdnPhysGold abrdnPhysSilver AdvShPureUSCan AlerianMLPETF AmpCWPEnhDiv AmplifyTransData ArkFinInnov AvantisEM AvantisIntlEquity AvantisUSEquity AvantisUSSCValue CapitalGrpDivVal CapGrpGlbGrw CapitalGrpGrw CommSvsSPDR CnsmrDiscSelSector CnsStapleSelSector DimenCoreFixedIncm DimenEmgCore DimenEMCore2 DimenIntlCore DimenIntlValue DimenUSCore DimenUSCoreEq2 DimenUSHiProf DimenUSMktVal DimenUSSCETF DimenUSSCValue DimenUSTargVal DimenWorldexUS DirexAeroBl3 DirexCSIChinaInt DirexDJBear3X DirexDJBull3X DirexEM Bear3 DirexEnergyBr2 DirexEnergyBl2 DirexChinaBr3 DirexChinaBl3 DirexFinlBear3 DirexFinlBull3 DirexGoldMinBr2 DirexGoldMinBl2 DirexHmbldrBull3 DirexJrGoldMinBr2 DirexJrGoldMinBl2 DirexRealEstBr3 DirexRealEstBl3 DirexS&P500Br3 DirexS&P500Bl3 DirexS&PBiotechBr3 DirexS&PBiotechBl3 DirexS&P500Br1

Tick Sym

Name

DirexHiBetaBear3X DirexS&POil&GasBr2 DirexS&POil&GasBl2 DirexSemiBear3 DirexSemiBl3 DirexScBear3 DirexSCBull3 DirexKRBull3 DirexTechBear3 DirexTechBull3 Direx20+TreaBr3 Direx20+YrTrBull ETFMGAltHarvest ETFMGPrmJrSilv ElemntsRogrAgri EnSelectSectorSPDR FidelityMSCIEn FidelityRealEst FidelityMSCIUtils FidelityTotalBdETF FinSelSectorSPDR FT DJ Internet FT EnergyAlpDx FTInstPfdSecs FT MatAlpDX FT MngstrDiv FT NaturalGas FT NA Energy Infra FT PfdSecs FT ValDivFd FlexGlbUpstmNatRsc FlexiBx3YDurTIPS FlexShSTOXXGlb FrankFTSE UK FrankInvGradeCp FrankUSCoreBd FrankUSTreaBd GlbXCopperMiners GlbXLithium&Batt GlbXS&P500Cv GlbX US Pfd GlbX Uranium GlbXVarPfd GSAccessIGCpBd GSTreasury0-1Y GSAccUSAggBd GSActiveBetaIntlEq HealthCareSelSect iMGPDBiMgdFutures IndSelSectorSPDR InvscCA AMT-Fr InvscDBComm InvscDBAgriFd InvscDBOilFund InvscDBUSDBull InvscDynEnerExpl

Yld

HIBS DRIP GUSH SOXS SOXL TZA TNA KORU TECS TECL TMV TMF MJ SILJ RJA XLE FENY FREL FUTY FBND XLF FDN FXN FPEI FXZ FDL FCG EMLP FPE FVD GUNR TDTT NFRA FLGB FLCO FLCB FLGV COPX LIT XYLD PFFD URA PFFV GIGB GBIL GCOR GSIE XLV DBMF XLI PWZ DBC DBA DBO UUP PXE

... ... .1 ... .3 ... .1 1.9 ... ... ... .4 3.1 .4 ... 3.9 3.4 3.2 2.7 2.2 ... ... 1.8 5.0 1.3 3.4 2.2 3.1 5.3 1.9 4.8 6.7 3.0 3.6 3.4 2.5 1.9 1.7 .2 11.6 6.2 6.8 5.9 2.7 .1 1.2 3.1 1.5 4.7 1.6 2.5 ... ... ... ... 2.2

Last

10.64 24.12 130.00 55.19 15.81 42.52 36.14 9.88 43.58 32.62 107.88 11.80 6.50 10.35 9.46 71.59 19.44 27.79 44.47 46.66 32.34 138.53 14.72 17.84 58.12 35.82 22.07 25.45 17.34 39.13 40.02 24.98 52.18 22.62 21.65 22.00 21.64 32.16 75.80 42.82 21.25 19.53 24.35 45.88 99.84 42.98 28.22 129.20 32.00 88.82 24.13 27.70 20.73 18.44 27.78 26.19

Div Chg. Amt.

–2.83 +1.97 –15.87 –10.44 +2.11 –8.47 +5.58 –0.24 –10.87 +6.08 –2.16 +0.07 +0.44 –0.21 –0.79 –1.90 –0.33 +1.79 +2.87 +0.32 +1.41 +13.25 –0.26 –0.01 –0.75 +1.22 –1.24 +0.74 +0.04 +1.89 –0.44 +0.14 +2.24 +0.87 +0.04 +0.13 +0.07 –2.37 +3.45 +0.53 +0.71 +0.67 +0.81 +0.20 +0.04 +0.34 +0.50 +9.31 –0.65 +3.26 +0.14 –0.95 –1.07 –0.73 –0.17 –1.53

... ... .108 ... .0188 ... .0504 .1908 ... ... ... .0256 .07 .0449 ... .8151 .208 .229 .279 .107 ... ... .1131 .0748 .2494 .2368 .1461 .2035 .086 .1701 .6132 .2976 .4618 .4867 .063 .0443 .0351 .3852 .1476 .4223 .109 1.309 .125 .1044 .0465 .0607 .4589 .5042 2.6772 .3742 .044 ... ... ... ... .1708

Tick Sym

Name

InvscDynOil&GasSv InvscEMSovDebt InvscFTSEDvMktxUS InvscFTSERAFIEM InvscNatAMTFrMuni InvscPreferred InvscS&PEMLowVol InvscS&P500EWEner InvscS&P500EW InvscS&P500HiBeta InvscS&P500HiDiv InvscS&P500LowVol InvscS&P500PrVal InvscS&P500Qual InvscSrLoan InvscSolar InvscTaxMuniBd InvscVarRtPfd InvscWildClnEngy iPathBloomCommTR iSh0-5YTIPSBd iShCalifMuniBd iShChinaLC iShCoreDivGrowth iShGrwthAllocation iShCoreHiDividend iShCoreMSCIEM iShCoreMSCIEurope iShMSCIIntlDev iShCoreMSCIPacific iShCoreS&P500 iShCoreS&P MC iShCoreS&P SC iShS&PTotlUSStkMkt iShCoreUSAggBd iShUSRealEstate iShUS Energy iShUSOilEquip&Svcs iShUSMedDevices iShEuropeETF iShGlobalEnergy iShGlobalREITETF iShGoldTr iShiBondsDec2025Cp iShiBondsDec2024Cp iShiBondsDec2023Cp iShiBoxx$HYCpBd iShiBoxx$InvGrCpBd iShIntlEquity iShLatinAmerica40 iShMSCIAustralia iShMSCIBrazil iShMSCICanadaETF iShMSCI EAFE iShMSCIEmgMarkets iShMSCIFranceETF

Yld

PXJ .4 PCY 6.8 PXF 5.4 PXH 6.6 PZA 2.6 PGX 6.6 EELV 4.7 RYE 2.7 RSP 1.7 SPHB 1.0 SPHD 3.7 SPLV 1.9 RPV 2.1 SPHQ 1.7 BKLN 3.4 TAN ... BAB 3.1 VRP 5.1 PBW 2.8 DJP ... STIP 6.0 CMF 1.7 FXI 1.7 DGRO 2.2 AOR 2.0 HDV 3.1 IEMG 3.9 IEUR 4.1 IDEV 4.3 IPAC 5.2 IVV 1.5 IJH 1.5 IJR 1.8 ITOT 1.5 AGG 2.0 IYR 2.3 IYE 3.3 IEZ .8 IHI .3 IEV 4.2 IXC 4.3 REET 3.2 IAU ... IBDQ 2.0 IBDP 1.8 IBDO 1.7 HYG 4.7 LQD 2.7 INTF 5.9 ILF 12.0 EWA 7.5 EWZ 13.4 EWC 2.2 EFA 4.7 EEM 2.7 EWQ 6.4

B A R R O N S .C O M / D ATA

Last

3.76 19.01 40.55 18.28 23.26 12.35 23.58 61.07 138.07 62.59 44.31 62.17 76.59 43.13 20.55 73.77 27.24 22.24 49.85 35.91 102.03 56.16 33.84 48.59 48.62 101.63 49.78 46.05 54.81 52.66 392.00 232.68 94.27 86.62 101.05 94.04 38.21 15.73 51.34 43.76 33.60 24.70 34.66 24.67 24.71 25.10 75.04 110.09 23.93 22.62 21.61 27.20 33.93 63.77 40.65 31.12

Div Chg. Amt.

–0.12 +0.01 +0.13 –0.15 +0.18 +0.25 –0.09 –2.10 +6.93 +4.42 +2.06 +3.63 +2.39 +1.92 –0.10 +3.64 +0.10 +0.07 +2.09 –1.94 +0.35 +0.38 +1.61 +2.75 +1.54 +4.50 +1.08 +1.65 +1.82 +1.69 +24.34 +11.52 +4.69 +5.32 +0.71 +6.38 –0.45 –0.46 +3.59 +1.73 –0.30 +1.16 –0.23 +0.13 +0.04 +0.03 +0.99 +0.66 +0.71 –0.49 +0.80 –0.72 +0.62 +2.29 +0.98 +1.42

.0075 .1144 .6462 .3902 .0507 .0585 .2277 .5407 .7034 .0991 .1418 .1128 .4816 .2007 .0661 ... .0727 .1055 .3164 ... 1.1097 .0809 .1459 .2347 .1499 .5697 .6044 1.1109 1.1738 .9531 1.2827 .7895 .3018 .2729 .1861 .345 .3425 .0371 .0481 1.184 .7607 .1362 ... .0405 .038 .0331 .3069 .2737 .5326 1.0981 .7434 1.4991 .276 1.4976 .3619 .9483

Selected ETF Leaders Invesco QQQ Trust (QQQ)

7.25%

SPDR S&P 500 ETF Trust (SPY)

6.62

Vanguard Total Stock Market (VTI)

6.25

Vanguard Dividend Appreciation (VIG)

5.65

iShares Core S&P Small Cap (IJR)

5.24

iShares Core MSCI EAFE (IEFA) Vanguard FTSE Developed Markets (VEA) Vanguard FTSE Emerging Markets (VWO) Vanguard Total Bond Market (BND) -0.69

3.66

1.86

1.79

0.66

SPDR Gold Shares (GLD) Source: Barron’s Statistics

Name

iShMSCIGermanyETF iShMSCIHongKong iShMSCIIndonesia iShMSCIIntlQual iShMSCIIntlValue iShMSCIItaly iShMSCIJapan iShMSCIKLD400Soc iShMSCIMexico iShMSCIPacificxJp iShMSCISaudiArabia iShMSCISingapore iShMSCISthKorea iShMSCISpain iShMSCISweden iShMSCISwitz iShMSCITaiwan iShMSCIUK iShNatlMuniBd iShRussell1000Gwth iShRussell1000Val iShRussell2000Gwth iShRussell2000 iShRussell2000Val iShRussellMid-Cap iShRussellMCValue iShRussell1000 iShRussellTop200Gr iShS&PMC400Growth iShS&P500Growth iShS&P500Value iShrsSP GSCI Cmdty iShS&PMC400Value iShS&P100 iShS&PSC600Value iShShortNatlMuniBd iShSilver iShTIPSBondETF iShTreaFRBd iShRussellMCGrowth iShUSTech iSh0-5YHYCorpBd iSh0-3MTreaBd JPM AlerianMLP JPMEquityPrem JPMRealtyIncm KraneBoseraCnA50 KraneCSIChInt MatlsSelSector MicroFang3xLvg MicroFANG-3XInvr MicroSectorsFANG3X MicroSecGold3XLvgd MicroOil&Gas-3 MicrUSBigOil3InLv PGIMUltraShBd PimcoEnhShMat Pimco1-5USTips Pimco0-5YHyCpBd ProShBitcoin ProShShBitcoin ProShShtDow30 ProShShortHY ProShShortQQQ ProShShtRus2000 ProShShrtS&P500 ProShSh20+Tr ProShUltBlmCrude ProshUltBlmNatGas ProShUltDow30 ProShUltOilGas ProShUltraQQQ ProShrUltraRus ProShUltraS&P ProShUltSilver ProShUltDow30 ProShUltRus2000 ProShUltS&P500 ProShUltShtDow30 ProShShtRus2000 ProShUltS&P500 ProShUltBloomCrd ProShUltShBlmGas ProShUltDow30 ProShrUltShFTSEEur ProShrUSOilGas ProShUltShtQQQ ProShUltShRus2000 ProShUltShtS&P500 ProShUltraSh20+ QuadIntRtVol RealEstSectorSPDR SPDRBlackSrLoan SPDRBlmCvSecs SPDRBlmEMLocBd SPDR Blm HY Bd SPDRBlmInvGrdFR SPDRBB1-10YTIPS SPDRBlm1-3MTB SPDRBlmSTHYBd SPDRGoldMini SPDR Gold SPDRNuvBBHYMuni SPDRNuveenMuniBd SPDRNuveenSTMuni

Tick Sym

EWG EWH EIDO IQLT IVLU EWI EWJ DSI EWW EPP KSA EWS EWY EWP EWD EWL EWT EWU MUB IWF IWD IWO IWM IWN IWR IWS IWB IWY IJK IVW IVE GSG IJJ OEF IJS SUB SLV TIP TFLO IWP IYW SHYG SGOV AMJ JEPI JPRE KBA KWEB XLB BULZ FNGD FNGU GDXU OILD NRGD PULS MINT STPZ HYS BITO BITI DOG SJB PSQ RWM SH TBF UCO BOIL DDM DIG QLD UWM SSO AGQ UDOW URTY UPRO SDOW SRTY SPXU SCO KOLD DXD EPV DUG QID TWM SDS TBT IVOL XLRE SRLN CWB EBND JNK FLRN TIPX BIL SJNK GLDM GLD HYMB TFI SHM

Yld

3.5 2.8 2.1 3.6 4.7 5.0 2.7 1.2 3.0 6.5 1.5 7.0 2.8 3.4 7.6 2.0 2.6 4.8 1.9 .7 1.9 .5 1.3 2.0 1.4 1.8 1.4 .7 .8 .7 2.1 ... 1.9 1.4 1.7 .6 ... 6.8 .1 .6 .4 5.2 .1 7.1 8.8 .5 1.3 .0 2.1 ... ... ... ... ... ... 1.1 .6 5.5 3.8 ... ... ... ... ... ... ... ... ... ... .6 1.9 ... ... .2 ... .8 ... .2 ... ... ... ... ... ... .0 ... ... ... ... ... 4.0 3.0 4.8 2.5 4.4 5.1 .4 6.3 .0 4.8 ... ... 3.6 1.8 .7

Last

23.93 21.48 23.25 31.31 22.67 25.16 53.70 74.79 47.33 41.96 41.09 18.23 59.50 23.86 31.74 41.84 52.79 30.38 105.93 229.15 148.52 213.99 175.09 139.98 66.88 104.41 215.02 130.91 65.86 63.21 140.27 23.83 96.56 178.69 90.71 104.40 19.51 115.44 50.41 83.00 84.69 41.19 100.07 18.80 56.12 49.22 37.95 33.41 76.46 4.79 55.05 9.32 6.44 6.87 92.00 49.05 99.11 52.67 90.00 13.16 39.00 35.39 19.38 13.70 25.22 15.94 20.47 42.83 55.41 59.33 29.77 45.95 32.98 48.07 26.87 52.50 43.17 38.64 34.55 65.80 18.37 22.67 34.82 49.91 15.08 22.48 23.71 18.18 47.13 27.22 25.68 41.81 42.21 66.06 20.53 92.65 30.27 19.62 91.45 24.52 36.22 170.09 51.04 45.61 47.13

Div Chg. Amt.

+0.26 +0.52 +0.63 +1.20 +0.39 +0.75 +1.64 +4.85 +1.52 +1.42 –1.26 +0.67 –0.20 +0.61 +0.73 +2.34 +0.45 +1.20 +0.51 +17.27 +7.53 +16.48 +9.91 +5.14 +3.77 +4.83 +13.38 +9.54 +3.42 +4.65 +7.00 –0.67 +4.40 +11.39 +3.94 +0.15 –0.47 +0.71 ... +6.56 +6.33 +0.29 ... +0.15 +3.21 +2.75 +1.26 +2.19 +1.54 +1.01 –17.67 +2.07 –0.58 +0.07 +3.91 +0.01 +0.09 +0.20 +1.00 +0.44 ... –1.97 –0.26 –1.06 –1.54 –1.08 –0.08 –2.94 –13.18 +5.80 –1.18 +6.13 +3.56 +5.72 –1.42 +7.32 +6.77 +6.57 –6.30 –13.27 –4.06 +1.28 +5.89 –5.77 –1.21 +0.13 –3.86 –2.36 –6.68 –0.29 +0.70 +2.73 –0.05 +2.80 +0.16 +1.01 +0.07 +0.13 +0.01 +0.17 –0.28 –1.18 +0.64 +0.22 +0.10

.7919 .3303 .3354 .7128 .5335 .8162 .5459 .1833 .7535 1.1597 .3292 .2764 1.6785 .3723 .9925 .8573 1.7603 .5803 .1623 .3913 .644 .2468 .4941 .5785 .2053 .3903 .6245 .1971 .1495 .1053 .5865 ... .3637 .569 .2835 .0585 ... 1.3667 .0291 .1113 .0759 .1829 .0414 .3541 .5164 .0601 3.4466 2.5804 .5146 ... ... ... ... ... ... .0613 .102 .56 .34 ... ... ... ... ... ... ... ... ... ... .0837 .11 ... ... .0402 ... .2456 ... .0354 ... ... ... ... ... ... .0006 ... ... ... ... ... .0771 .3124 .17 .1298 .0923 .4262 .0233 .2283 .0313 .107 ... ... .15 .0649 .0221

Name

SPDRPtfAggBd SPDRPtfDevxUS SPDRPtfEM SPDRPtfIntermCpBd SPDR PtfIntTrea SPDRPtfLTCorpBd SPDRPtfLgTermTrea SPDRPtfMtgBkdBd SPDRS&P500Value SPDRPtfS&P1500 SPDRPtfS&P500 SPDRS&P500Growth SPDRS&P500HiDiv SPDRPtfS&P400MC SPDRPtfS&P600SC SPDRPtfSTCpBd SPDRShtTermTrea SPDR PtfTIPS SPDR S&P600SCapVal SPDRS&PBank SPDRS&PGlbNatRes SPDRS&PInsurance SPDRS&PRegionalBkg SchwabEM Equity SchwabFundEmgLrg SchwabFundIntLrgCo SchwabFundIntlSmCo SchwabFundUSLrgCo SchwabIntmUSTrsr SchwabIntEquity SchwabIntlSC SchwabSrtTRmUSTrsr SchwabUS AggrBd SchwabUS BrdMkt SchwabUS Div SchwabUS LC SchwabUS LC Grw SchwabUS LC Val SchwabUS MC SchwabUS REIT SchwabUS SC Schwab US TIPs SPDR DJREIT SPDR DJIA Tr SPDR EurSTOXX SPDR MSCI exUS SPDR S&PMdCpTr SPDR S&P 500 SPDR S&P Biotch SPDR S&P Div SPDR S&P Home SPDR S&P MtlMng SPDRS&POilGasExpl SPDR S&P Retail SprottUranium TechSelectSector TeucriumCornFd TeucriumWheatFd U.S.GlobalJetsETF UtilitiesSelSector VanEckAgribus VanEckGoldMin VanEckInvtGrFR VanEckJPMEMLCBd VanEckJrGoldMin VanEckOilSvcs VangdExtMkt VangdInfoTech VangdSC Grwth VangdSC Val VangdDivApp VangdEnergy VangdAWxUSSC VangdFTSEDevMk VangdFTSE EM VangdFTSE Europe VangdFTSE Pac VangdFinls VangdFTSEAWxUS VangdGrowth VangdHiDiv VangdIntermBd VangdLC VangdLT Bond VangdMegaGrwth VangdMegaVal VangdMC VangdMC Val VangdRealEst VangdS&P500ETF VangdST Bond VangdSC VangdTaxExemptBd VangdTotalStk VangdTotlWrld VangdValue WisdTrEMxSOE WisdTrEM HiDiv WisdTrFRTrea WisdTrJapanHdg WisdTrUSMCDivFd XtrkrsHarvCSI300 XtrkrsMSCIEAFE XtrkS&P500ESG XtrkrsUSDHYCpBd

Tick Sym

SPAB SPDW SPEM SPIB SPTI SPLB SPTL SPMB SPYV SPTM SPLG SPYG SPYD SPMD SPSM SPSB SPTS SPIP SLYV KBE GNR KIE KRE SCHE FNDE FNDF FNDC FNDX SCHR SCHF SCHC SCHO SCHZ SCHB SCHD SCHX SCHG SCHV SCHM SCHH SCHA SCHP RWR DIA FEZ CWI MDY SPY XBI SDY XHB XME XOP XRT URNM XLK CORN WEAT JETS XLU MOO GDX FLTR EMLC GDXJ OIH VXF VGT VBK VBR VIG VDE VSS VEA VWO VGK VPL VFH VEU VUG VYM BIV VV BLV MGK MGV VO VOE VNQ VOO BSV VB VTEB VTI VT VTV XSOE DEM USFR DXJ DON ASHR DBEF SNPE HYLB

Yld

2.3 4.0 4.0 1.8 .8 4.0 2.3 2.8 2.2 1.6 1.6 .9 3.9 1.6 1.7 1.1 .3 7.0 1.9 2.8 4.4 1.9 2.4 2.8 5.4 4.1 2.9 2.0 1.1 3.7 3.2 .4 2.4 1.6 3.3 1.6 .6 2.3 1.7 2.1 1.5 6.6 3.3 2.0 4.1 3.6 1.3 1.5 ... 2.8 .9 .9 1.7 2.4 8.0 .9 ... ... .0 2.9 1.3 1.8 .7 5.7 2.1 .8 1.0 .9 .4 2.1 2.0 3.7 3.3 3.8 3.3 4.2 3.8 2.4 3.7 .6 3.1 2.2 1.5 3.7 .6 2.5 1.4 2.0 3.1 1.5 1.2 1.5 1.8 1.6 2.3 2.5 1.9 7.4 .1 2.6 2.6 1.0 2.5 1.4 5.1

Last

26.20 29.42 35.14 32.56 29.24 24.14 32.46 22.64 37.57 48.00 45.84 54.72 40.35 40.84 36.72 29.72 29.40 27.91 73.72 45.00 52.86 38.18 59.55 25.72 26.09 28.72 30.86 52.12 51.20 32.04 31.89 49.11 47.57 45.73 73.01 46.22 61.13 63.67 64.78 21.56 40.32 56.57 96.97 315.02 36.00 24.20 425.44 390.08 77.06 120.68 56.26 46.09 121.99 64.57 60.26 133.45 26.81 9.52 17.42 69.01 87.27 29.66 24.78 24.66 35.58 228.80 137.00 344.03 206.60 153.61 146.47 99.60 105.39 41.58 42.19 54.11 64.16 79.41 50.76 235.25 103.31 77.18 178.44 79.18 191.91 97.53 203.25 131.96 93.12 360.00 76.56 182.31 49.66 195.19 87.71 133.73 29.30 37.22 50.31 63.35 39.78 33.48 35.28 35.28 34.35

Div Chg. Amt.

+0.20 +0.34 +0.38 +0.15 +0.23 +0.11 +0.12 +0.22 +1.64 +2.69 +2.63 +3.88 +1.72 +1.81 +1.66 +0.09 +0.10 +0.16 +2.84 +1.59 –0.75 +2.00 +1.83 +0.59 +0.26 +0.22 +0.36 +2.19 +0.42 +0.74 +0.59 +0.16 +0.31 +2.65 +2.70 +2.72 +4.75 +2.74 +3.32 +1.26 +2.06 +0.36 +4.70 +16.30 +0.60 +0.77 +20.61 +24.22 +9.45 +6.61 +3.99 –0.45 –7.52 +4.08 +2.41 +8.83 –2.05 –1.08 +0.83 +4.14 –0.77 –0.73 +0.12 +0.22 –1.18 –6.36 +8.37 +24.22 +15.09 +6.16 +7.83 –2.75 +1.50 +0.76 +0.74 +0.89 +1.13 +3.56 +0.97 +17.94 +4.11 +0.63 +10.61 +0.40 +14.28 +4.27 +11.82 +5.66 +5.42 +22.05 +0.35 +9.95 +0.28 +11.48 +3.74 +5.72 +0.55 –0.90 –0.03 +0.59 +1.61 +0.91 +0.58 +2.03 +0.45

.0523 .5851 .4585 .0615 .0274 .0825 .0661 .0551 .2221 .2038 .1938 .1309 .405 .1865 .1548 .0384 .0213 .3412 .3436 .2865 1.1652 .1777 .3553 .0754 1.1302 .2833 .1287 .2939 .0922 .276 1.0061 .0332 .0938 .179 .7038 .1867 .0767 .386 .2936 .1424 .1476 .6049 .7679 .6921 .7507 .4136 1.4017 1.5769 ... .761 .1382 .2107 .7673 .3183 4.8219 .3232 ... ... .1414 .5154 .0202 .5348 .0275 .108 .7454 1.8075 .2454 .5955 .2403 .7123 .6949 1.0081 .3749 .53 .3057 1.0479 .545 .4134 .578 .3206 .8479 .1441 .698 .2472 .2761 .5968 .5902 .5822 .5695 1.3737 .0822 .589 .076 .7491 .5978 .8354 .375 .76 .048 .75 .15 .3453 .50 .1548 .1443

June 27, 2022

BARRON’S

MUTUAL FUNDS

D ATA About Our Funds The listings include the top 2500 open-end funds by assets. These funds value their portfolios daily and report net asset values (the dollar amount of their holdings divided by the number of shares outstanding) to the National Association of Securities Dealers. Total returns reflect both price changes and dividends; these figures assume that all distributions are reinvested in the fund. Because Lipper is constantly updating its database, these returns may differ from those previously published or calculated by others. 3 year returns are cumulative. The NAV is the last reported closing price for the week. Footnotes: NA: not available. NE: performance excluded by Lipper editor. NN: fund not tracked. NS: fund not in existence for whole period. e: ex capital gains distributions. f: previous day’s quote. n: no frontor back-end sales charge. p: fund assets are used to pay marketing and distribution costs (12b-1 fees). r: fund levies redemption fee or back-end load. s: stock dividend or split of 25% or more. t: fund charges 12b-1 fees (for marketing and distribution) and a back-end load. v: capital-gains distribution may be a return of capital. x: ex cash dividend. Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

A AAM: B&GIncGroClI 22.22 1.34 -12.4 25.1 ShDurFdClassI 9.78 0.01 -2.2 1.9 AB Funds: AlBeGblBndFdClZ 7.35 AllMktRlRtnPtZ 9.45 AllMktRtrn1 9.37 CapFdInc.LCapGow74.06 DiscovValFd 20.52 ImpactMunIncmSh 9.51 IntDurInstl 13.32 IntlStraEquPtZ 11.21 MuniIncmShares 11.01 MuniInflStr1 10.53 SmCapGrwPortZCl 55.34 AB Funds - A:

0.05 -10.4 0.02 -2.5 0.02 -2.6 5.57 -25.0 0.96 -17.7 0.09 -12.5 0.06 -11.8 0.31 -15.6 0.10 -13.0 0.06 -4.5 4.75 -35.6

-4.8 28.9 27.9 43.9 24.2 -0.2 -3.5 5.3 2.8 8.8 16.1

BalWlthStrA 13.70 GlobalBondA 7.36 GrowthA 83.47 HighIncomeA 6.71 LgCpGrA 66.12 MuCA A 10.31 NtlMuA 9.61 RelatValA 5.91 SmCpGroA 48.00 SmMdCpGrA 8.66 SustGlblThemGrA128.11 AB Funds - ADV:

0.38 -17.5 0.05 -10.4 6.43 -26.3 0.02 -12.9 4.97 -25.1 0.07 -9.5 0.06 -9.7 0.27 -10.5 4.12 -35.7 0.78 -34.4 6.65 -27.6

2.7 -5.6 30.5 -1.9 42.6 -1.1 -1.1 27.3 14.9 14.1 32.9

BondInflStrat 10.96 CAPtf 10.31 ConGroAdv 46.01 GlbBd 7.35 HiIncmAdv 6.72 IntlSmCapPtADV 10.18 IntlStraEquPtADV 11.19 IntlStrgCore 11.58 IntmedDivMuni 13.69 LgCpGrAdv 74.19 MuniBdInfl 10.60 NationalPtf 9.61 SelectUSLgShrt 13.19 SmCapCorePortADV 12.19 SmMdCpGr 9.76 SmMidCpValAdv 21.38 SustGlbThemAdv138.96 SutblIntlThemat 17.48 TxMgdWlthAppAdv 17.28 WlthApprStr 17.09 AB Funds - C:

0.06 -6.0 0.07 -9.3 3.02 -23.7 0.05 -10.3 0.02 -12.8 0.16 -21.6 0.30 -15.6 0.35 -16.5 0.06 -6.5 5.58 -25.1 0.06 -4.4 0.06 -9.6 0.30 -9.2 0.69 -20.3 0.87 -34.4 1.00 -17.7 7.22 -27.5 0.63 -26.5 0.82 -17.6 0.81 -17.4

11.7 -0.4 33.8 -4.9 -1.1 3.1 5.3 2.1 0.4 43.6 9.2 -0.4 24.9 20.6 14.8 24.0 33.9 13.1 21.7 22.6

LgCpGrC AB Funds - I:

43.90 3.30 -25.4 39.4

GlbBd 7.35 0.05 -10.3 -4.9 LgCpGroI 73.65 5.54 -25.1 43.5 SmCpGroI 54.87 4.72 -35.6 15.8 Aberdeen Fds: EmMktEqty Inst 13.46 0.37 -21.9 0.2 UltStMuniIncInst 10.00 0.00 -0.1 1.4 USSmCapEq Inst 32.37 1.97 -27.1 34.1 Acadian Emerging Markets: AcadnEm Inv n 19.57 -0.24 -16.4 Advisers Inv Trst:

6.4

Muni n Growth n Balanced n AIG Funds:

8.13 0.05 -7.5 0.1 93.84 4.26 -13.6 38.2 78.46 2.30 -11.5 27.0

FDivStII Akre Funds:

16.12 0.80 -9.9

7.9

D ATA P R O V ID E D BY LIPP E R

NOTICE TO READERS: Closed End Fund listings have moved to barrons.com/cefund. They will no longer appear in print. The Herzfeld chart has moved to the Market Lab Newsletter. To sign up for the newsletter, go to barrons.com/newletters. Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

AkreFocusInst 52.87 4.02 -20.1 27.9 AkreFocusRtl 51.16 3.89 -20.2 26.9 Alger Funds A: CapApr 21.73 1.61 -30.6 26.3 SpectraN 16.66 1.29 -32.0 18.0 Alger Funds Inst: CapApprI 28.62 2.13 -30.6 26.3 Allianz Fds Admin: RCMTechI 56.74 3.80 -31.6 35.5 Allianz Funds A: RCMGrowthA AllianzGI:

51.82 3.83 -27.5 44.1

MidCpValA 30.24 1.99 -12.0 23.1 RCMTech 42.29 2.83 -31.7 34.2 Amana Income: AmanaIncm n 57.56 3.26 -12.3 34.6 AmanaGrowth n: AmanaGrowth n 58.22 3.51 -20.8 51.6 Amer Beacon Insti: IntlInst 15.66 0.41 -13.5 2.6 LgCapinst 25.28 1.16 -10.4 30.6 SmCpInst 24.94 0.97 -13.0 29.2 Amer Beacon Inv: LgCapInv 22.50 1.03 -10.6 29.3 American Century A: EqIncA 9.09 0.30 -6.8 17.4 American Century G: EmgMktsDebt 8.74 -0.06 GlBond 9.13 -0.01 InfAdjBd 11.63 -0.19 NonUSIntrVal 8.76 0.20 SDIPB 10.80 -0.02 Sustain Equity 38.98 2.44 American Century I: CaHYMu 9.68 DiscCoreVal 30.71 DivBnd 9.64 EmgMkt 10.76 EqInc 9.11 Growth 40.19 InfAdjBd 11.62 IntTF 10.77 MdCapVal 15.77 SDIPB 10.79 ShtDurStrInc 9.07 SmCapVal 9.43 Sustain Equity 38.80 Ultra 67.11 Value 8.34 American Century Ins:

-13.8 -10.2 -7.6 -10.3 -1.0 -19.6

0.08 -12.3 0.98 -13.6 0.03 -11.2 0.26 -23.4 0.29 -6.6 3.05 -26.1 -0.17 -7.8 0.05 -8.0 0.58 -6.1 0.00 -1.3 0.00 -5.3 0.35 -14.6 2.43 -19.8 5.20 -27.0 0.28 -5.7

-3.5 -3.9 11.4 -0.6 13.3 40.7 -1.7 30.6 -2.3 -1.9 19.1 41.4 10.1 0.7 31.1 11.7 3.7 42.8 38.2 50.9 32.5

CAIntTf 11.12 0.06 -7.6 -0.6 American Century Inv: Balanced n 16.01 0.59 -16.6 CaHYMu n 9.68 0.08 -12.4 CAIntTF n 11.11 0.05 -7.8 DiscCoreVal n 30.64 0.99 -13.7 DivBnd n 9.64 0.04 -11.2 EqGro n 24.87 1.13 -19.7 EqInc n 9.09 0.29 -6.7 FocusDynamGrowth n 39.08 3.34 -30.3 GinnieMae n 9.33 0.05 -8.9 GlGold n 10.50 -0.32 -9.6 Grwth n 39.04 2.97 -26.1 Heritage n 17.78 1.25 -30.1 InfAdjBd n 11.64 -0.17 -7.8 InfProBd n 10.70 0.00 -1.4 Intl Gr n 10.61 0.47 -26.3 IntTF n 10.77 0.06 -8.1 FocLgCapVal n 9.72 0.45 -3.9 MdCapVal n 15.75 0.58 -6.2 OneChAgg n 14.67 0.59 -17.1 OneChCon n 12.83 0.31 -13.2 OneChMod n 14.28 0.45 -15.8 OneChoice2025 n 13.28 0.34 -13.1 OneChoice2035 n 14.80 0.46 -14.9 OneChoice2045 n 15.75 0.58 -16.5 OneChoiceRet n 11.89 0.29 -12.5 Select n 90.12 6.57 -22.8 SmCapGrowth n 16.18 1.17 -25.3 SmCpVal n 9.32 0.35 -14.6 Sustain Equity n 38.69 2.42 -19.9 Ultra n 63.85 4.95 -27.1 Value n 8.32 0.29 -5.8 VeryCon n 11.59 0.19 -9.9 American Century R6:

15.4 -2.3 -1.2 29.8 -2.8 26.3 18.2 40.8 -5.4 11.3 40.5 18.3 9.8 11.4 9.2 0.1 27.2 30.2 20.2 11.9 16.3 11.6 14.1 17.0 10.5 45.4 31.8 42.0 37.4 50.0 31.8 8.7

AmCentUltraFdR6 67.57 EmgMkt 10.76 EqInc 9.12 Growth 40.29

51.6 -1.5 19.6 42.0

5.25 -27.0 0.26 -23.4 0.29 -6.5 3.07 -26.0

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

InfAdjBd PACH R6 11.62 MdCapVal 15.76 OCP2025 9.62 OCP2030 10.53 OCP2035 9.88 OCPINRET 9.32 SmCpVal 9.44 American Century Y:

-7.7 -6.1 -12.9 -13.9 -14.8 -12.3 -14.5

10.7 31.6 12.7 13.9 15.2 11.7 43.4

IntTF 10.76 0.05 -8.0 American Funds Cl A:

0.8

2010TarRetA 2015TarRetA 2020TarRetA 2025TarRetA 2030TarRetA 2035TarRetA 2040TarRetA 2045TarRetA 2050TarRetA AmcpA AMutlA BondA BalA CapIBA CapWA CapWGrA EupacA FdInvA GBalA GovtA GwthA HI TrA HiInMuniA ICAA IncoA IntBdA IntlGrIncA LtdTEBdA N PerA NEcoA NwWrldA SmCpA STBFA STTxExBdA TECAA TxExA WshA AMG Funds:

11.18 11.70 12.65 14.01 15.19 16.28 16.88 17.24 16.90 30.97 48.77 11.84 28.94 63.08 16.61 50.78 49.15 60.41 32.29 12.89 53.99 9.17 14.72 41.93 23.33 12.84 31.76 15.05 50.01 44.38 67.16 56.22 9.61 9.85 16.18 12.13 51.58

-0.18 0.57 0.25 0.30 0.30 0.23 0.36

12.1 12.9 13.5 15.9 17.8 21.2 22.2 22.1 21.6 19.8 30.3 0.0 20.6 14.6 -11.2 15.8 6.0 27.4 7.8 1.0 30.1 5.6 0.2 28.9 21.0 1.1 7.0 -0.4 29.5 16.6 10.7 16.6 -0.1 0.0 -2.7 -1.4 33.5

RRSmCapValI 13.87 0.62 -9.8 21.7 AMG Managers Funds: Brandywine I n 33.27 GWKMBd I 11.07 GWKSmCpCr I 27.72 TSSmCapGrFd Z 14.32 YachtmanFocFd I 18.61 YacktFocFd N n 18.66 YacktmanFd I 21.77 Angel Oak Funds Trst:

1.81 0.09 1.55 1.00 0.33 0.33 0.50

-26.1 -9.5 -18.5 -22.1 -11.9 -12.0 -11.1

15.0 -3.0 31.3 32.5 28.1 27.4 29.6

AglOkMtiStFdClIn 9.49 0.02 -4.6 -0.4 AQR Funds: DivArbI 11.61 0.14 LgCapDefStyle I 26.65 1.57 LgCapDefStyle R 26.63 1.57 LgCapMomStyle I 20.16 1.18 LgCpMultiStyle R 17.22 0.87 LngShrtEq I 13.78 -0.57 MgdFutStrI 9.52 -0.31 RskBalComF I 9.59 -0.39 StylePremAlt R 8.52 -0.58 TMEmgMultStyle R 9.95 0.08 Aquila Funds: HI TF A ArbitrageI :

Cash Track

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

-4.0 31.5 -16.7 25.5 -16.6 25.8 -19.8 35.9 -15.1 35.3 11.9 27.5 31.1 28.0 18.7 100.3 20.7 12.8 -16.7 3.8

10.55 0.04 -6.9 -2.4

Ashmore Funds: EmgMktTRInst 4.96 Ave Maria Funds: Bond n Growth n RisingDivd n

Equity Funds

Municipal Bond Funds 8000

11.55 0.12 -4.8 8.2 35.18 2.39 -21.5 20.5 19.67 1.05 -10.1 30.6

Baird Funds: AggBdInst 9.96 CorBdInst 10.20 IntBdInst 10.33 QualIntMunBdInst 10.99 ShtTBdInst 9.33 BalanA p: BalanA p Baron Funds:

0.04 0.03 0.04 0.03 0.01

-11.5 -11.5 -7.6 -6.4 -3.7

-2.5 -1.8 -0.3 -0.3 1.5

AssetInst 86.55 6.37 -30.0 11.4 DiscoveryInst 24.20 2.30 -31.3 29.7 EmergingMktsInst 13.65 0.44 -22.4 0.2 GlobalAdvInst 30.09 3.15 -42.9 12.7 GrowthInst 88.42 6.12 -27.3 26.1 PartnersInst 144.06 14.05 -30.1 167.2 RealEstateInst 30.20 1.59 -27.0 54.0 SmallCapInst 28.95 2.06 -28.4 23.8 BBH Funds: 9.98 0.01 -2.4

3.2

Ca Mu n 13.58 DivrMuni n 13.70 EmMkts n 25.76 IntmDur n 11.65 NY Mun n 13.22 BlackRock Funds:

0.05 0.06 0.43 0.05 0.06

-5.9 -0.6 -6.5 0.1 -14.6 8.6 -11.9 -4.4 -6.5 -0.8

CoreBd Inst 8.55 CoreBd K 8.58 CreStraInc Inst 8.86 HiYBlk 6.74 HiYInvA 6.73 HiYldBd Inst 6.73 InflProtBdA 10.22 InflProtBdInst 10.51 LDurBlk 9.08 LowDurBdA 9.08 LowDurI Inst 9.09 BlackRock Funds A:

0.04 0.05 0.01 0.04 0.04 0.04 0.03 0.04 0.02 0.02 0.03

-11.7 -11.7 -10.1 -11.9 -12.2 -12.1 -7.8 -7.6 -4.7 -5.0 -4.7

-3.1 -2.9 -0.3 3.4 2.1 3.1 10.7 11.6 -0.2 -1.2 -0.3

AdvLCGrwA 16.95 AdvLgCapCore 16.51 BalCapFd 22.35 BasicVal 17.65 CAInsMuni 11.68 CapAppr 27.22 EqtyDivd 20.09 GlblAlloc 17.73 HlthScOp 67.19 LgCp Focus Gr 4.87 MdCpGrA 27.45 MultiAstIncome 9.79 NatlMuni 10.05 NYMUNIOPP 10.37 ScTechOppA 39.33 StratMuniOpp 10.50 StrtIncOpptyInvA 9.52 TotRet 10.31 BlackRock Funds Blrk:

1.22 -25.3 1.01 -19.0 0.32 -16.4 0.70 -7.3 0.13 -10.0 2.08 -30.2 0.82 -6.7 0.47 -14.8 4.83 -10.7 0.37 -30.0 2.30 -32.8 0.14 -11.9 0.13 -10.7 0.12 -9.3 3.12 -34.6 0.10 -11.5 -0.01 -5.2 0.05 -12.2

38.7 34.7 18.7 26.5 -3.0 25.2 28.9 16.5 34.9 25.6 14.6 3.6 -3.5 -2.6 46.1 -4.3 4.5 -3.0

CapAppr 31.01 2.38 -30.0 26.5 BlackRock Funds C:

ApprecInv n 39.61 1.84 -17.0 20.8 Ariel Inv n 67.51 3.37 -19.2 24.4 Aristotle Value:

GlblAlloc 15.53 0.41 -15.1 13.8 HlthScOp 56.67 4.07 -11.1 31.9 MultiAstIncome 9.78 0.14 -12.3 1.4 BlackRock Funds III:

Equity Fund n 17.12 0.83 -16.7 33.0 Artisan Funds: 1.63 -28.1 1.59 -28.2 0.80 -22.6 0.80 -22.5 1.04 -11.6 1.03 -11.7 2.93 -31.0 2.46 -31.1 0.74 -13.6 2.74 -31.7

27.0 26.1 -2.3 -1.6 23.3 22.4 26.2 25.3 22.8 8.7

iShS&P500IdxK461.8128.05 -17.3 39.6 iShUSAggBdIdxK 9.28 0.06 -10.8 -3.2 BlackRock Funds Inst: AdvIntl Inst AdvLgCapCore AdvSmCapInst BalCapFd BasicVal CAInsMun CapAppr EmgMkts

15.25 17.41 15.54 22.49 18.06 11.69 30.68 23.34

-3100

-2200

-3800

-7300

-4500

-12400 Apr

May

-5200

Jun

Apr

Money Market Funds

May

Jun

Taxable Bond Funds

22.00 0.90 -15.2 23.7

Asset n 82.08 6.04 -30.1 10.6 Growth n 84.31 5.82 -27.4 25.1 Opportunity n 27.08 2.42 -34.5 51.1 Partners n 139.03 13.56 -30.1 165.2 SmallCap n 27.06 1.92 -28.5 22.8 Baron Instl Shares:

BdMktN n Bernstein Fds:

-2400

2900

13500

6.2

ArbitrageI 12.91 0.21 -2.9 Ariel Investments:

GblOppInst 27.19 GblOppInv n 26.53 Intl Inv n 23.58 IntlInst 23.74 IntlVal Inst 37.46 IntlVal Inv n 37.32 MidCapInst 36.61 MidCapInv n 30.67 MidCapVal Inv n 18.63 SmCpInv n 28.61

Cashing Out: Equity funds saw cash exit, dropping the last month’s average weekly inflow to $720 million. Outflows increased at taxable-bond funds, to a weekly average $13.7 billion, while muni-bond funds saw outflows grow to $4 billion. A cash drain dropped the average inflow at money-market funds to $1.2 billion.

0.23 -9.4 0.25 -10.6 0.30 -11.3 0.38 -12.9 0.50 -14.6 0.62 -16.6 0.72 -18.1 0.76 -18.7 0.75 -19.4 2.10 -26.7 2.31 -7.5 0.06 -10.6 0.95 -12.4 1.95 -8.9 0.17 -15.8 1.85 -19.4 1.55 -23.7 2.91 -18.4 0.63 -15.2 0.09 -7.6 3.35 -27.3 0.04 -10.8 0.14 -11.6 2.02 -17.4 0.66 -8.5 0.07 -5.7 0.54 -18.2 0.05 -5.5 2.58 -24.7 2.61 -28.2 2.52 -21.9 2.70 -29.8 0.02 -3.1 0.02 -3.5 0.13 -10.6 0.08 -9.6 2.53 -11.5

B A R R O N S .C O M / D ATA

0.43 -17.9 1.06 -18.9 1.18 -27.0 0.33 -16.2 0.72 -7.1 0.13 -9.9 2.35 -30.1 0.42 -22.2

5.6 35.6 13.2 19.6 27.6 -2.3 26.2 6.2

Apr

May

7400

4900

1800

-3700

-3800

-12300

-9400

-20900

-15000

Jun

Apr

May

Jun

A red chart indicates a lower value than the starting period. Green means it's higher than the starting period. The charts above show four-week moving averages of net cash flow in millions of dollars. Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

EqtyDivd 20.18 0.82 -6.6 FloRateIncPorIns 9.35 -0.03 -4.2 LgCpFocusGwth 5.41 0.41 -30.0 GlblAlloc 17.89 0.47 -14.7 GlobLg/ShrtCrIns 9.23 -0.09 -7.0 HiEqInc 27.51 1.11 -4.1 HlthScOp 71.43 5.15 -10.6 HYMuni 8.99 0.10 -14.3 Interntnl 16.72 0.63 -24.4 iShMSCIIntldx 13.05 0.42 -17.6 MdCpDvd 21.21 0.84 -6.3 MdCpGrEq 32.24 2.71 -32.7 MultiAstIncome 9.80 0.14 -11.9 NatlMuni 10.04 0.12 -10.7 NYMUNIOPP 10.36 0.12 -9.2 ScTechOppInst 43.19 3.42 -34.5 ShTmMuni 9.80 0.02 -2.8 StratIncOpptyIns 9.53 -0.01 -5.0 StratMuniOppI 10.51 0.10 -11.3 TacOpp Inst 13.91 -0.09 -1.2 TotRet 10.30 0.05 -12.1 WorldInc 5.39 0.03 -12.0 BlackRock Funds R: Equity Div BNY Mellon:

29.8 5.5 26.4 17.4 3.2 28.0 35.9 1.1 12.0 6.2 41.8 15.5 4.4 -2.8 -1.9 47.2 -0.7 5.5 -3.6 7.9 -2.2 -4.0

20.33 0.83 -6.9 27.6

SCMultiStrM 18.97 1.01 -18.4 30.2 BNY Mellon Funds: ResrchGrA 13.05 -0.71 -29.0 Aprec n 38.34 2.24 -19.5 AssetAllocM 12.48 0.44 -15.2 CA AMTMuBdZ n 13.27 0.10 -11.2 49.40 3.00 -17.5 Dr500In n Dreyf n 13.53 0.84 -18.2 DreyMid r Inv n 29.45 1.43 -17.5 FloRtIncY 10.69 -0.05 -4.5 GblRealRtY 16.10 0.09 -7.8 GlbStkI 22.08 1.16 -21.0 GlFxIncI 19.56 0.11 -9.1 HYldI 5.19 0.01 -13.0 InstS&PStkIdx I 63.12 3.83 -17.4 Interm n 12.51 0.06 -8.2 IntlStkI 20.55 0.90 -23.8 IntlStkY 20.31 0.89 -23.7 MunBd n 10.67 0.08 -10.1 NY Tax n 13.43 0.11 -10.0 ResrchGrZ n 13.56 -0.67 -29.0 SmCpStk r Inv n 27.68 1.38 -17.5 SmMidCpGrI 23.16 1.89 -32.0 StratValA 38.16 1.64 -6.6 StrgVal I 38.42 1.65 -6.5 U.S.EqY 21.10 1.38 -21.8 WWGrA 60.08 3.49 -18.5 BNY Mellon Funds Tru:

30.8 41.2 20.5 -3.6 37.6 41.8 25.9 5.2 11.2 20.0 -1.5 -0.7 38.8 -1.6 10.2 10.3 -1.8 -2.5 31.6 28.2 19.0 44.0 45.1 23.4 38.4

BondFd 11.28 0.05 -11.4 -3.5 EmgMkts 10.84 0.08 -18.6 6.2 IncomeStk 8.76 0.33 -3.2 38.0 IntlFd 12.40 0.39 -18.0 2.4 IntmBdFd 11.83 0.03 -6.1 -0.3 MCMultiStrM 17.42 1.00 -20.6 26.1 NtlIntmMuni 12.71 0.07 -8.5 -1.2

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

NtlShTMuni 12.41 0.02 -3.0 Boston Trust Walden:

0.1

BostonBalanced 57.14 2.88 -15.3 21.2 BrandesInstIE I : BrandesInstIE I 15.53 Bridge Builder Trust:

CoreBond 9.18 CorePlusBond 9.07 Intl Eq 10.74 LargeCapGrowth 17.89 LargeCapValue 15.61 MunicipalBond 9.75 S/MCapGrowth 12.09 S/MCapValue 12.85 Bridgeway Funds:

0.05 0.05 0.37 1.27 0.73 0.07 0.88 0.56

-11.2 -11.5 -19.7 -23.9 -9.4 -8.7 -27.9 -12.8

-1.8 -0.9 1.2 38.7 36.9 -0.7 19.7 28.9

SmCpVal n 33.44 1.22 -12.0 84.6 Brown Advisory Funds: EmrgMktFdInstlSh 10.16 GrowEqInv n 24.55 GrwthEquityInst25.05 SmallCapFndInst26.40 SmCapGrInv n 21.71 BrownSmCoInv n:

0.22 -14.1 2.18 -28.4 2.22 -28.3 0.96 -15.7 1.44 -20.4

12.5 24.6 25.2 16.1 16.5

BrownSmCoInv n 81.12 7.76 -30.4 -0.4 Buffalo Funds: DiscFd n SmCap n

20.99 1.47 -27.4 13.4 13.66 1.06 -28.6 40.4

C Calamos Funds: ConvI 15.93 Gr&IncA 38.69 Gr&IncI 36.84 GrowthA 29.45 MktNeutA 13.79 MktNeutI 13.63 Calvert Investments:

0.56 -20.6 1.86 -17.0 1.78 -16.9 2.06 -27.6 0.18 -6.2 0.19 -6.0

33.2 33.5 34.5 26.6 5.5 6.4

Bal A 35.84 1.35 -14.2 21.2 Eq A 67.23 4.77 -18.9 41.0 LCCoreReIdxA 33.13 2.16 -20.5 39.5 Carillon Eagle: MdCpGrA 68.11 4.63 -24.4 25.6 Carillon Reams: CorePlBd I 30.80 0.35 -10.8 UnconstrndBd I 11.92 0.23 -6.0 Carillon Scout:

4.1 6.2

MidCap I 20.70 0.88 -15.2 30.9 CausewayInst : CausewayInst 15.34 0.38 -11.8 10.9 Chartwell: Income n CIBC Atlas:

12.68 0.17 -9.4

5.4

DispEq Inst ClearBridge:

25.69 1.61 -17.0 35.9

AggressGrowthA114.45 7.88 -22.9 10.2 AggressGrowthI139.40 9.60 -22.8 11.2 AllCapValueA 12.72 0.56 -10.2 19.1

BARRON'S • Lipper FMI

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

AppreciationA 28.68 AppreciationI 28.48 DividendStrat1 n 27.58 DividendStratA 27.54 DividendStratI 28.49 LargeCapGrowthA 46.36 LargeCapGrowthI 53.27 LargeCapValueA 34.58 LargeCapValueI 34.52 MidCapA 32.40 MidCapI 37.61 SmallCapGrowthA 32.68 SmallCapGrowthIS 37.14 SmallCapGrowthI 36.37 Clipper:

1.64 -14.1 1.63 -14.0 1.46 -10.4 1.46 -10.5 1.51 -10.4 3.46 -28.6 3.97 -28.5 1.42 -12.6 1.43 -12.5 2.08 -22.9 2.42 -22.8 2.69 -29.0 3.06 -28.9 2.99 -29.0

32.8 33.9 34.2 33.0 34.2 23.1 24.1 25.8 26.9 26.8 28.0 20.8 22.3 21.7

ClipperFd n 112.96 5.26 -17.2 19.9 Cohen & Steers: GblInfrI 22.74 GlbRltyI 54.18 InstlRlty 48.90 IntlRltyI 9.83 PrefSecIncmA 12.09 PrefSecIncnI 12.13 RltyIncA 16.87 RltyIncI 18.00 RltyShs n 68.88 Colorado BondShares:

1.07 2.38 3.22 0.21 0.01 0.01 1.12 1.20 4.54

-4.1 -18.5 -17.0 -18.2 -12.5 -12.3 -18.2 -18.1 -17.1

15.8 7.0 24.7 -5.3 1.9 2.9 22.6 23.5 24.1

ColoradoBdShs 8.67 0.07 -5.9 Columbia Class A:

6.0

AcornA 6.23 0.51 -33.3 AMTTEBd 14.49 0.16 -13.5 BalancedA 43.75 1.71 -14.1 BldrAggrsv 11.44 0.49 -17.5 BldrMod 9.74 0.28 -15.4 ContCoreA 27.69 1.69 -16.0 DisplCoreA 12.01 0.71 -17.2 DivIncA 28.06 1.31 -10.5 DivOpptyA 35.71 1.46 -5.2 EqValA 11.06 0.44 -12.9 FocEqA 11.42 -1.72 -25.5 GlobEq 14.44 0.95 -26.5 GlobTech 54.28 3.37 -25.6 HiYldBd 10.34 0.06 -12.5 IncmBldr 11.43 0.14 -12.1 IntmMunBdA 9.51 0.04 -7.9 LgCpGrowA 44.91 3.20 -26.6 LgCpIdx n 48.08 0.57 -17.5 LgCpVl A 15.42 0.67 -9.0 LiGoBalA 10.62 0.38 -16.4 MdCpIndxA n 13.44 -0.08 -17.4 MidCapGthA 17.29 1.48 -31.6 SelgComuInfoA 96.82 5.81 -25.2 SelMidCpValA 11.56 0.51 -13.8 SmCpIdxA n 23.41 0.43 -17.5 StratIncA 21.63 -0.06 -10.4 TaxEA 11.77 0.11 -12.0 TechA 49.60 3.42 -28.0 ThermoA 14.86 0.31 -11.8 TotReBdA 31.55 0.07 -14.3 Columbia Class Adv:

-1.0 -4.4 24.7 18.3 9.6 41.3 35.1 32.7 28.6 17.7 38.4 25.8 88.5 1.4 6.8 -1.1 40.8 37.7 31.6 13.8 26.0 16.0 86.9 32.8 28.0 0.2 -4.2 49.4 27.2 -1.9

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

ContCore 28.69 1.76 -15.8 42.4 DivIncom 28.60 1.31 -10.4 33.7 Columbia Class C: Balanced 43.57 1.70 -14.4 22.0 DivInc 27.12 1.31 -10.8 29.7 Columbia Class I: Acorn I 9.06 0.75 -33.1 AcornIntl I 21.16 0.89 -34.6 AltBeta I 28.09 -0.06 -0.5 Balanced I 43.64 1.71 -14.0 ConSec I 18.97 -0.78 -18.9 ContCore I 28.01 1.71 -15.8 DivIncom I 28.08 1.29 -10.4 DivOppty 35.93 1.44 -5.1 EmgMkt 12.43 0.39 -27.5 FlexCap 13.48 0.23 -10.5 FlotRte 33.05 -0.13 -4.7 GlbTechGw I 52.00 3.59 -27.9 IntmMunBd I 9.52 0.04 -7.7 LgCapGr 7.33 0.68 -29.9 LgCpGrow I 47.78 3.41 -26.5 LgCpIdx I 48.53 0.58 -17.4 MdCpIdx I 13.35 -0.09 -17.3 MidCapGth I 19.78 1.70 -31.5 SelComunInfo 110.68 6.64 -25.2 SelLCVal 29.19 1.00 -8.8 SelMdCpVal I p 11.60 0.51 -13.7 SmCapGth I 18.34 1.52 -36.1 SmCapVal I 41.85 -0.84 -13.7 SmCpIdx I 23.65 0.45 -17.4 StratInc I 21.22 -0.06 -10.3 TaxEZ 11.77 0.11 -12.0 Thermostat I 14.60 0.31 -11.7 TotReBd I 31.56 0.06 -14.2 Columbia Class I2:

-0.2 -5.9 -4.3 25.7 35.3 42.4 33.6 29.6 1.4 25.6 3.6 50.5 -0.5 23.7 41.9 38.8 26.9 16.9 88.3 37.4 33.7 14.4 34.1 29.0 1.0 -3.6 28.2 -1.1

ContCore I2 28.67 1.76 DivIncom 28.57 1.31 MidCapIndx 13.78 -0.07 SmCapIndx 24.33 0.48 Columbia Class I3:

-15.8 -10.4 -17.3 -17.4

42.8 33.9 26.9 29.0

Balanced I3 44.16 Bond I3 30.61 ContCore I3 28.69 DivIncom 28.61 SelMidCpVal 11.54 SmCpVal II 16.53 STBond 9.49 Columbia Funds:

-14.0 -12.2 -15.8 -10.4 -13.6 -15.6 -4.5

26.0 -2.2 42.9 34.1 34.4 32.9 1.3

UltShortBd Inst3 8.94 0.00 -0.6 Commerce Funds:

2.6

1.73 0.15 1.75 1.31 0.51 0.11 0.01

Bond n 18.00 0.09 -10.8 -2.6 Community Capital Tr: CRAQualInvFd 9.67 0.06 -7.8 -4.4 Credit Suisse Common: ComdtyRet 30.73 -1.41 22.7 59.2 CrossingBridge: LwDurHYld Inst 9.95 0.01 -1.0 11.2 Cullen Funds: HiDivEqI

15.14 0.68 -8.8 17.3

BARRON’S

MUTUAL FUNDS

D ATA Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

Stock n 221.51 10.80 -8.9 42.2 Domini Funds:

D Davenport: Davenport Core n 27.00 1.51 -17.9 26.3 EqOpp n 18.56 1.05 -24.3 25.1 Val&Incm n 17.53 0.68 -10.6 23.1 Davis Funds A: NYVen A 23.80 1.14 -17.6 15.8 Davis Funds C & Y: NYVenY 24.69 1.19 -17.5 16.7 Del Invest Instl: CorpBdI 5.16 0.01 -16.0 -2.4 Value 19.31 0.80 -8.1 22.1 Delaware Invest A: Diver Inc GroInA OppA SmCpValA SMIDCapGrA TxIntA TxUSA Deutsche DWS:

7.80 13.39 30.51 64.71 17.62 10.93 10.42

June 27, 2022

0.02 0.50 1.34 2.43 2.27 0.09 0.14

-12.7 -4.1 -13.6 -15.4 -41.5 -11.7 -14.6

-2.0 26.3 24.4 24.9 10.0 -1.6 0.2

CapGrth 92.97 CapGrth n 94.69 CoreEq n 28.15 EqDivA 52.70 GblIncBldA 8.68 GNMA S n 12.34 HiIncA 4.19 MgdMuniA 8.04 MgdMuniS n 8.05 S&P500S n 36.67 TechA 26.12 Diamond Hill Funds:

6.99 -25.8 7.12 -25.7 1.59 -15.8 2.51 -3.4 0.15 -14.3 0.06 -8.7 0.00 -10.9 0.07 -11.9 0.07 -11.8 1.98 -17.5 1.89 -28.5

37.1 38.1 34.5 17.0 8.0 -4.5 1.9 -4.1 -3.5 38.4 45.6

LgCapA n 30.09 LgCapI 30.29 LgCapY 30.34 LongShortI 26.64 SmMidCapI 24.22 Dimensional Fds:

1.39 1.39 1.40 0.73 1.14

-15.2 -15.1 -15.1 -7.1 NA

26.4 27.5 28.0 19.1 NA

2TGlFxd 9.62 5GlbFxdInc 10.04 CAIntrTrmMuniBd 10.20 CASTMuniBd 10.13 Cont 26.62 DFARlEst 42.70 EmgMkt 27.26 EmgMktSoCoEq 13.55 EmgMktVa 27.89 EmMktCorEq 21.48 EmMktSmCp 21.21 Fixd 10.11 GblAll60 40Inst 19.20 GlAll25 75Inst 13.55 GlEqInst 27.12 GlRESec 11.08 InfProtSec 12.08 IntGvFxdInc 11.35 IntlCoreEq 13.43 IntlREst 3.89 IntlSustCore1 10.56 IntlVal 17.54 IntlVectorEq 11.71 IntrLrgCpGroPor 13.63 IntSmCo 17.46 IntSmVa 18.31 IntTermMuni 9.93 IntVaIII 15.12 ITExQual 9.48 LgCo 27.93 LgCpIntl 22.90 SclCrEqInst 12.37 SelHdgGlFxd 8.95 STExQual 10.25 STGov 9.94 STMuniBd 10.09 US CoreEq1 30.43 US CoreEq2 27.61 US Micro 23.02 US Small 38.93 US SmCpVal 38.69 US TgdVal 26.82 USLCpGr 26.56 USLgVa 40.99 USLgVaIII 27.13 USSmCpGr 21.12 USSoCoreEq2 19.85 USSustCoreI 30.19 USVectorEq 21.35 WexUSGov 8.61 WrdEXUSTARGETVAL 12.31 Dodge & Cox:

0.03 -2.6 0.06 -6.2 0.04 -4.4 0.02 -0.9 0.37 -22.0 2.77 -17.4 0.39 -13.6 0.19 -15.1 0.16 -9.8 0.25 -14.1 0.12 -14.9 0.01 -1.5 0.54 -12.8 0.20 -7.9 1.16 -16.2 0.56 -17.6 0.09 -8.4 0.10 -10.1 0.27 -16.5 0.10 -17.9 0.32 -20.0 0.15 -8.4 0.18 -15.8 0.53 -22.3 0.28 -19.8 0.07 -14.3 0.03 -4.2 0.13 -8.3 0.05 -14.9 1.70 -17.3 0.60 -16.1 0.27 -18.9 0.04 -6.3 0.05 -5.3 0.02 -4.4 0.01 -0.5 1.66 -16.2 1.46 -16.2 0.92 -16.1 1.83 -17.1 1.26 -10.9 0.85 -11.0 1.66 -18.5 1.65 -10.6 1.09 -10.6 1.09 -20.9 1.07 -18.8 1.83 -18.7 0.92 -13.8 0.16 -14.2 0.08 -14.1

-1.1 -4.8 -1.1 0.2 16.3 17.5 7.7 6.8 6.7 10.1 16.9 -0.1 17.8 7.9 29.0 7.0 9.6 -3.7 11.2 -9.2 9.0 12.6 12.2 10.3 11.5 12.0 0.2 13.0 -4.7 39.4 9.8 7.0 -3.5 -2.4 -4.3 0.7 38.1 38.6 32.2 31.6 41.1 42.1 38.8 26.5 26.9 29.7 33.6 40.1 33.3 -12.1 12.3

Intl Eq Instit 7.05 0.24 -22.3 -4.5 US Equity Inv n 27.20 1.77 -22.2 36.5 DoubleLine Funds: CoreFxdIncmI 9.69 0.04 EmgMktIncmI 8.77 -0.02 FlexibleIncomeI 8.78 0.01 InfraIncomeI 9.22 0.04 LowDurBdI 9.51 0.01 LowDurBdN n 9.50 0.01 ShillerEnhCAPEI 14.23 0.95 ShillerEnhCAPEN n 14.22 0.95 TotRetBdI 9.32 0.05 TotRetBdN n 9.31 0.05 Driehaus Funds:

-10.3 -14.6 -6.9 -9.4 -3.1 -3.3 -19.4 -19.5 -9.2 -9.4

-3.8 -6.5 1.2 -2.0 1.0 0.2 27.5 26.5 -3.9 -4.6

EmMktsGr n 33.89 0.69 -17.7 12.4 Dupree Mutual Fds: KYTF n

7.17 0.04 -9.0 -1.3

E Eaton Vance Class A:

Balanced n 99.54 3.40 -8.0 28.1 Dodge & Cox n 10.26 0.03 -10.7 3.2 GblStock n 13.62 0.51 -5.7 34.2 Income n 12.61 0.06 -9.8 0.8 Intl Stk n 43.34 1.05 -8.4 14.0

AtlCpSMID 30.43 1.68 DivBldrA 17.30 0.90 FloatRt 8.51 -0.05 FltgRtAdvg 9.73 -0.07 Inc Bos 4.90 0.02 LgCpVal 22.38 1.15 NatlMuniInc 9.18 0.08 ShDurGovIncFd 7.84 -0.01 ShDurStratIncFd 6.73 NA 1621.35 NA TMG1.0 n TMG1.1 75.45 4.82 TMG1.2 33.91 2.16 TxManVal 34.03 1.88 WW Hlth Science 13.18 1.01 Eaton Vance Class I:

-14.3 -12.2 -5.0 -5.9 -10.3 NA -10.1 -0.7 NA NA -19.6 -19.6 -12.7 NA

25.4 36.2 3.2 3.3 2.9 NA -1.3 2.0 NA NA 36.0 35.4 27.6 NA

AtlCpSMID 35.39 1.96 FloatRtHiInc 8.07 -0.04 FltgRt 8.23 -0.05 GblMacAbR 8.10 -0.06 IncBos 4.90 0.02 LgCpVal 22.49 1.16 NatlMuniInc 9.18 0.08 Eaton Vance Funds:

-14.2 26.4 NA NA -4.9 3.9 -4.1 7.0 -10.2 3.5 NA NA -10.0 -0.5

ParTxMgdEmgMktIn40.83 0.29 -14.2 -3.2 Edgewood Growth Instituti: EdgewoodGrInst 38.70 3.16 -36.0 22.9 F Fairholme: Fairholme n 25.63 0.48 -17.7 37.9 FAM Dividend Focus: FAMDivFocFd n 42.69 2.69 -18.6 25.5 FAM Value: FAMValue n 81.51 4.29 -18.1 20.3 Federated Hermes: FdIntlGrIS 13.29 0.38 -27.1 20.5 FedHerInterEquit22.64 0.35 -21.7 11.0 FedHerUltBon 8.98 0.00 -1.6 2.4 Federated Hermes A: CapIncA 7.85 EqIncA 21.69 FdShInToRetA 9.94 FedMunULA n 9.89 KaufmannA 4.71 KaufmnLCA 24.63 KaufmnSCA 40.48 MunStkAdvA 13.12 StockTrA 27.99 StrValDivA p 6.10 UltraShortA n 8.99 Federated Hermes C:

0.18 -11.8 1.06 -9.4 0.03 -5.3 0.01 -1.2 0.33 -29.5 1.85 -27.1 2.94 -31.0 0.36 -10.8 1.37 -10.3 0.30 5.5 0.00 -1.6

StraValDivC 6.11 0.30 Federated Hermes Int: GloFinI 31.73 InsHiYld 8.49 MDTSmCIS 20.63 TtlRtnBdI 9.87 Federated Hermes IS:

0.96 0.04 1.09 0.06

11.2 26.3 -0.2 0.5 -1.3 15.6 7.1 11.9 29.3 25.9 1.7

5.2 23.0 -14.8 12.9 -12.2 1.5 -21.5 28.2 -10.4 1.2

CorpBondFdIS 8.27 0.01 -13.4 FdFlRStIncIS 8.85 -0.02 -5.3 FdShinToRetI 9.94 0.04 -5.2 GovUltra 9.88 0.01 -0.4 IntEq IS 22.62 0.34 -21.8 KaufmnLCIS 25.75 1.93 -27.0 KaufmnSCI 41.74 3.04 -30.8 MunStkAdvI 13.11 0.35 -10.8 ShIntDurMuInst 9.82 0.03 -4.3 ShtlncIS 8.30 0.01 -2.9 StraValDivIS 6.14 0.30 5.7 StrincIS 7.99 0.01 NA UltraShortI 8.99 0.01 -1.5 FedMuniUl A 9.89 0.01 -1.2

-1.2 1.2 0.5 1.9 10.8 16.4 8.6 12.7 -1.0 2.0 26.9 NA 2.4 1.0

D ATA P R O V ID E D BY LIPP E R Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

Federated Hermes R: KaufmnR 4.72 0.33 -29.6 -1.3 Federated Hermes R6: FedInstHYBondL 8.50 KaufmnSCL 41.39 StrValL 6.14 TtlRtnBdL 9.86 Fidelity:

0.05 -12.2 1.5 3.01 -30.8 8.6 0.31 5.8 27.0 0.06 -10.4 1.1

500IdxInstPrem n 136.28 8.27 -17.3 BalancedK6 12.49 0.54 -16.1 Contrafund K6 17.35 0.96 -25.3 EmgMktIdxInstPre n 10.19 0.20 -15.7 ExtMktIdxInstPre n 65.27 4.15 -24.8 FidAdAsset 13.37 0.17 -9.4 FidAdAsset 11.36 0.21 -11.4 FidAdAsset 12.16 0.28 -12.8 FidAdEm 33.74 1.08 -22.6 FidAdJapan 13.99 0.54 -24.2 FidFreeBlend 9.72 0.25 -15.6 FidFreeBlend 9.74 0.27 -16.3 FidFreeBlend 9.85 0.33 -17.5 FidFreeBlend 9.89 0.38 -18.6 FidFreeBlend 9.91 0.38 -18.5 FidFreeBlend 9.88 0.39 -18.5 FidSAI 8.64 0.04 -11.9 FidSAIEmerg 11.67 0.04 -14.8 FidSAIIntern 10.58 0.43 -20.3 FidSer5 8.77 0.06 -13.4 FidSer0-5 9.96 0.04 -0.9 FIDSerEmgMkt 8.40 0.18 -20.1 FidSerInt 8.78 0.10 -10.6 FidSerToMarket 12.95 0.79 -18.6 FIDSerTresIndxFd 9.98 0.00 0.1 FIDZroExtMktIx n 10.58 0.58 -18.9 FIDZroLgCpIx n 13.79 0.86 -18.3 Flex 500 Index 16.75 1.02 -17.3 FlexIntIdx 11.40 0.30 -16.5 FlexMuniInc 9.48 0.07 -9.4 FlexUSBdIdx 9.30 0.05 -10.8 Freedom2060K 11.37 0.41 -18.2 GlexUSIdxInstPre n 12.76 0.34 -16.5 GrowthCompanyK6 16.12 1.14 -29.5 InflPrBdIndInsPr n 10.29 0.07 -7.8 IntDiscoveryK6 10.91 0.28 -25.3 InterBondIndexCL n 9.07 0.09 -9.0 IntlIdxInstPrem n 40.56 1.27 -17.7 IntlIndex n 9.93 0.26 -17.2 IntrTresBdIxPrem n 9.97 0.08 -10.0 LgCpGwId InstPre n 22.25 1.60 -24.8 LgCpVlIdxIstPrem n 14.51 0.66 -10.8 LTTrsBdIdxInstPr n 11.32 0.04 -22.4 MidCapK6 12.56 0.46 -11.7 MidCpGrwthIndx n 21.54 1.70 -27.7 MidCpInxInstPrem n 25.76 1.27 -18.8 MidCpValIndex n 22.85 1.06 -13.9 NewMkt I 11.65 -0.02 -16.6 OTCK6Port 14.98 0.97 -27.9 PuritanK6 12.29 0.41 -15.9 RealEstIdxInst n 16.39 1.05 -18.7 SAIIntlMon 10.76 0.24 -25.4 SAIIntlSmComplet 10.03 0.25 -30.1 SAIRealEstIndxFd 11.27 0.72 -18.6 SAIUSLgCpIndxFd 18.80 1.14 -17.3 SeriesBondFd 9.21 0.05 -10.8 SeriesOverseas 10.66 0.43 -26.0 SerLTTreBdIdx 6.54 0.02 -22.4 SmallCapValIndx n 22.09 0.84 -14.8 SmCpIdxInstPrem n 21.82 1.23 -20.8 STBdIdx InstPrem n 9.61 0.04 -4.8 STTreIdx InstPre n 10.03 0.04 -4.6 TMktIdxInstPrem n 108.78 6.65 -18.6 TotalMarketIndex n 13.70 0.84 -18.4 TtlIntIdxInstPr n 11.88 0.30 -17.2 USBdIdxInstPrem n 10.57 0.06 -10.9 USSusIdx n 17.42 1.15 -17.8 Fidelity Adv Focus A:

39.6 32.8 30.9 3.4 21.7 6.5 9.6 12.8 NS 9.6 NS NS NS NS NS NS NS NS NS NS NS -5.5 NS 36.5 2.1 25.6 39.0 39.7 6.7 -1.5 -3.5 23.7 6.6 63.1 10.4 10.6 NS 6.2 7.1 -3.4 48.4 25.7 -10.0 35.3 NS 26.2 NS -13.3 52.7 29.1 5.7 NS 5.2 5.9 39.5 -3.3 11.0 -10.1 NS 19.9 -0.1 -0.6 36.6 37.3 7.3 -3.4 42.4

HthCarA 54.25 5.04 -18.4 26.3 TechA 70.41 4.54 -30.0 72.0 Fidelity Adv Focus C: HthCarC 40.54 3.77 -18.7 23.5 Fidelity Adv Focus M: Tech 64.68 4.17 -30.1 70.8 Fidelity Advisor: MultiAstIn Retai n 12.54 SrsAdvIntlCapApp 23.12 StragInc n 11.10 TotBdFdClZ 9.67 Fidelity Advisor A:

0.24 -14.5 28.1 1.28 -27.4 7.4 0.05 -11.3 1.8 0.04 -11.4 -0.3

AdvStrDivInA 15.62 0.68 -11.1 NwInsghtA 29.71 1.63 -25.0 FF2030A 12.39 0.33 -16.2 FltRateA 8.97 -0.03 -4.1 TotalBdA 9.69 0.04 -11.5 BioTech 22.13 2.20 -18.5 IntCpApA 21.53 1.19 -27.5 SmllCapA 24.19 1.39 -24.5 EqGrA p/r 13.70 0.90 -20.5 EqInA 30.33 1.46 -3.9

24.9 22.4 14.6 4.9 -1.4 18.0 6.6 28.1 53.9 31.6

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

GrOppA 97.54 DivGthA 17.39 HiIncAdvA 10.95 BalancA 23.92 LgeCapA 33.12 StkSelMC 35.73 StrInA 10.94 AdvMdCpIIA 18.81 DivIntlA 21.92 43.72 LevCoStA Fidelity Advisor C:

6.60 -32.0 0.84 -14.1 0.07 -12.3 1.02 -16.3 1.38 -11.8 1.80 -15.9 0.04 -11.4 0.95 -18.9 0.74 -25.7 2.09 -22.3

42.8 25.3 11.0 30.6 36.0 27.0 0.9 28.0 10.5 39.4

NwInsghtC 23.38 1.28 -25.3 19.6 BalancC 23.63 1.01 -16.6 27.7 GrOppC 79.10 5.34 -32.3 39.6 Fidelity Advisor Fun: BalFdZ 24.53 1.05 -16.1 32.1 InterDiscZ 39.43 0.99 -25.1 10.8 IntlGrwZ 15.64 0.68 -25.7 12.3 Fidelity Advisor I: GrOppI 107.79 7.30 -32.0 ConsvIncmMuni I 9.97 0.01 -0.5 MultiAssetInc 12.54 0.24 -14.5 NwInsghtI 30.88 1.69 -24.9 FAEmgMktI 27.50 0.43 -18.5 SmCapGrwI 23.44 1.74 -26.3 FF2030 12.49 0.33 -16.2 BalancI 24.52 1.05 -16.2 FltRatel 8.95 -0.03 -4.0 HiIncAdvI 10.24 0.07 -12.1 FF2040 13.30 0.49 -18.3 StrInI 11.10 0.04 -11.3 REIncmInst 12.11 0.26 -11.0 FAEnergyI 38.20 -0.81 32.8 Total Bd 9.67 0.04 -11.4 BiotechI 24.13 2.40 -18.5 IntlGr 15.60 0.67 -25.7 LmtdTrmBdFd 10.93 0.04 -5.8 EqGrI 15.77 1.04 -20.4 FAIntDiscI 39.47 1.00 -25.1 DivIntl 22.40 0.75 -25.7 SmallCapI 27.69 1.60 -24.4 MuniIncI 9.93 0.05 -7.3 IntlSmCp 26.91 0.34 -17.3 HthCarI 60.12 5.59 -18.3 MuniIncome 11.96 0.09 -10.8 FAInvGrdI 7.37 0.04 -11.2 Fidelity Advisor M:

43.9 1.3 28.1 23.3 12.1 21.6 15.5 31.6 5.7 11.9 21.5 1.6 10.6 38.7 -0.7 19.0 11.9 -0.5 55.1 10.4 11.4 29.1 -0.2 12.0 27.3 -1.8 -0.7

StrInM 10.94 NwInsghtM 27.97 StkSelMC 36.06 EqGr 13.25 EqIn 31.33 SmllCapM 21.50 GrOppM 96.14 Balanced 24.27 Fidelity Advisor Z:

0.9 21.5 26.1 52.7 30.7 27.2 41.7 29.7

0.05 -11.4 1.54 -25.1 1.82 -16.0 0.88 -20.6 1.51 -4.0 1.23 -24.6 6.49 -32.1 1.04 -16.4

IntCpAp 23.16 1.28 GovtIncome 9.54 0.07 StrgInc 11.11 0.05 RE Income 12.10 0.26 AdvIntlSmCpZ 26.89 0.34 InvestGradeBd 7.37 0.03 FloatRateHighInc 8.96 -0.03 EmMkt Z 27.43 0.43 AssetManager50% 19.01 0.53 GrOpp 109.12 7.39 AssetMngr85 21.74 0.98 StkSelAllCap 55.78 3.42 SmallCapValue 18.51 0.78 CorporateBond 10.43 0.03 AsstMngr70 24.16 0.91 NewMktsIncFdZ 11.65 -0.02 Fidelity Freedom:

-27.3 -9.9 -11.2 -10.9 -17.2 -11.1 -3.8 -18.5 -14.2 -31.9 -18.1 -19.0 -14.3 -14.9 -16.2 -16.5

7.8 -4.1 1.9 10.9 12.5 -0.4 6.1 12.6 15.5 44.4 25.5 38.6 44.7 -2.7 21.3 -13.0

FF2030 n 15.33 FF2010 n 13.38 Income n 10.44 Free2060InstPrem 14.11 Idx2055InsPre 16.67 Idx2050InsPre 20.26 FundK 60.24 Idx2045InsPre 20.23 Idx2040InsPre 19.48 Idx2035InsPre 19.27 Idx2030InsPre 17.41 Idx2025InsPre 16.57 Idx2020InsPre 14.72 Idx2015InsPre 13.52 Idx2010InsPre 12.51 IdxIncInsPre 11.40 Freedom2015 K 10.81 Freedom2020 K 13.43 Freedom2010 K 13.38 Freedom2025 K 12.29 Freedom2030 K 15.32 Freedom2035 K 13.11 Freedom2040 K 9.25 Freedom2045 K 10.59 Freedom2050 K 10.71

-16.1 -11.7 -9.7 -17.6 -17.6 -17.6 -23.9 -17.6 -17.6 -16.7 -15.6 -15.1 -14.3 -12.9 -11.5 -9.5 -13.1 -14.7 -11.7 -15.5 -16.0 -17.2 -18.1 -18.1 -18.2

16.8 8.7 5.0 21.0 21.1 21.1 44.2 21.0 21.1 18.5 14.8 12.5 11.0 9.3 7.5 4.5 11.0 12.8 8.9 14.4 17.1 21.3 23.8 23.7 23.7

0.39 0.18 0.09 0.61 0.72 0.88 3.95 0.88 0.83 0.72 0.55 0.48 0.38 0.29 0.22 0.15 0.19 0.28 0.18 0.28 0.39 0.41 0.33 0.39 0.39

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

Freedom2055 K 12.40 FF2020 n 13.43 Income K 10.42 FrdmBlen2025 K6 9.74 FF2020A 10.97 FAFree2020I 11.09 FF2040A 13.16 FF2045 n 10.60 FAFree2045A 10.37 Free2045L 10.49 FF2050 n 10.71 FAFree2050A 10.40 Free2050I 10.52 Idx2015 Premier 13.52 Idx2020 Premier 14.71 Idx2025 Premier 16.56 Freedom2015 K6 10.76 Idx2030 Premier 17.40 Freedom2020K6 13.37 Idx2035 Premier 19.27 Freedom2025K6 12.26 Idx2040 Premier 19.47 Freedom2030K6 15.27 Idx2045 Premier20.22 Freedom2035K6 13.08 Idx2050 Premier20.26 Freedom2040K6 9.21 Idx 2055 Premier 16.66 Freedom2045K6 10.55 Idx 2060 Premier 14.11 Freedom2050K6 10.69 Freedom2055K6 12.37 2060 K6 11.37 Free2055 n 12.39 Idx2055Investor 16.66 Freedom2060 n 11.37 FF2025A 11.39 FAFree2025I 11.54 FF2035A 12.24 FAFree2035I 12.38 FF2005 n 11.01 FF2015 n 10.82 FF2025 n 12.31 FF2035 n 13.12 FF2040 n 9.25 Fidelity Invest:

0.45 0.28 0.09 0.25 0.24 0.23 0.49 0.39 0.38 0.39 0.38 0.39 0.40 0.30 0.38 0.47 0.18 0.55 0.28 0.72 0.29 0.83 0.39 0.87 0.41 0.88 0.33 0.72 0.38 0.61 0.39 0.45 0.41 0.44 0.72 0.41 0.27 0.28 0.40 0.39 0.11 0.19 0.29 0.40 0.33

-18.1 -14.7 -9.7 -15.7 -14.8 -14.8 -18.4 -18.2 -18.5 -18.3 -18.2 -18.5 -18.3 -12.9 -14.4 -15.1 -13.2 -15.6 -14.6 -16.7 -15.4 -17.6 -16.0 -17.6 -17.1 -17.6 -18.0 -17.6 -18.1 -17.6 -18.1 -18.1 -18.1 -18.3 -17.6 -18.2 -15.7 -15.5 -17.4 -17.4 -10.2 -13.2 -15.5 -17.3 -18.1

23.8 12.5 5.2 13.6 10.8 11.6 20.7 23.3 20.5 21.4 23.2 20.5 21.5 NS NS NS 11.2 NS 13.1 NS 14.9 NS 17.5 NS 21.8 NS 24.3 NS 24.3 NS 24.3 24.2 24.3 23.2 20.9 23.3 12.3 13.2 18.4 19.2 6.7 10.7 14.2 20.9 23.4

FournOne n 48.84 2.03 -17.6 NYMun n 12.03 0.08 -10.7 CnvSc n 29.98 1.12 -17.6 HighInc n 7.44 0.04 -12.5 SrsGroCoRetail 14.53 1.01 -28.8 MegaCpStk n 16.93 0.70 -12.6 SrsSmCapDiscRet 10.13 0.49 -18.8 IntMu n 9.92 0.05 -7.2 DisEq n 48.96 3.04 -25.0 AMgr70% n 24.19 0.91 -16.3 IntlDisc n 39.62 1.00 -25.1 DivIntl n 35.95 1.22 -25.9 Value n 12.97 0.50 -11.7 CAMun n 11.89 0.08 -9.8 Emerg Asia n 39.31 2.35 -23.2 146.65 10.24 -25.5 NASDAQ n BalancedK 25.43 1.09 -16.1 124.93 8.25 -32.2 BluChpGrK CapApprK 35.93 2.30 -18.9 ContraK 13.86 0.78 -25.4 DivIntlK 35.89 1.21 -25.8 DivGrowK 31.45 1.52 -13.9 EmrgMktK 33.78 1.08 -22.6 EqIncK 63.68 2.89 -8.9 StrDivIncI 15.70 0.68 -11.0 EqDivIncmK 26.71 1.29 -3.8 InvGrBd 10.23 0.04 -10.9 GrowCoK 25.92 1.85 -29.2 GrowDiscK 44.43 2.99 -20.4 DivStkO n 28.57 1.35 -18.4 LowPriStkK 47.31 1.12 -11.9 StkSlcACap n 56.20 3.46 -19.0 MagellanK 11.28 0.87 -23.6 MidCapStkK 35.73 1.28 -11.4 OTC K 14.44 0.91 -27.8 OverseasK 49.34 1.98 -27.0 PuritanK 22.76 0.75 -16.0 ValueK 12.99 0.50 -11.6 GroCo n 25.81 1.84 -29.2 ValueDisc n 35.12 1.72 -8.3 SmlCpGrth Z 23.57 1.74 -26.3 SrsIntlGrw 14.28 0.61 -25.3 SrsIntlVal 9.78 0.14 -12.4 SrsIntlSmCp 15.33 0.39 -28.3 Puritn n 22.78 0.75 -16.0 StratDivInc n 15.76 0.68 -11.0 EmrMkt n 33.77 1.09 -22.6 LowP n 47.36 1.12 -12.0 Ovrse n 49.44 1.99 -27.0 SmCapDisc n 23.13 1.13 -18.5 LargeCap n 36.37 1.54 -11.7 AMgr85% n 21.85 0.98 -18.1 EqDivIncm n 26.71 1.28 -3.9

21.6 -2.4 41.8 -3.1 71.2 40.9 36.1 0.0 36.7 21.1 10.5 10.1 46.0 -2.0 26.7 48.3 32.4 50.3 47.1 32.3 10.5 27.0 15.7 33.2 25.9 33.0 0.5 65.3 55.0 45.4 35.5 38.3 35.4 36.9 51.2 9.2 29.2 46.4 64.9 35.9 22.1 15.9 14.9 13.1 28.9 26.0 15.3 35.1 8.8 31.8 37.1 25.2 32.6

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

SmlCpGrth n 23.36 1.73 -26.3 SmlCpVal n 18.51 0.78 -14.4 LmtTrmMuniIncm n 10.20 0.03 -4.7 SCValueI 18.51 0.78 -14.4 SCEnhIdx n 11.80 0.66 -19.7 GNMA n 10.46 0.07 -9.2 McpVl n 25.00 1.18 -13.1 SmlCapO n 11.62 0.62 -22.1 SrsGlobal 12.57 0.34 -16.5 GovtInc n 9.52 0.07 -9.9 REInc n 10.42 0.15 -9.5 LCapGrEIdx n 24.43 1.67 -22.2 LCapCrEIdx n 18.32 1.03 -15.1 MAMun n 11.21 0.08 -9.5 LgCpVHIdx n 14.48 0.67 -9.7 NewMill n 38.73 1.49 -7.5 InvGB n 7.36 0.03 -11.2 OTC n 14.15 0.90 -27.8 StkSelSmCp n 26.72 1.43 -22.2 IntlEnhIdx n 9.25 0.25 -17.0 GroInc n 46.62 1.87 -9.9 MidCapEnIdx n 15.42 0.79 -17.2 Magin n 11.28 0.87 -23.7 RealEstInc n 12.16 0.26 -10.9 MtgSec n 10.19 0.09 -9.9 SmallCap n 14.48 0.79 -22.0 FltRateHi n 8.96 -0.03 -3.9 ValStra n 46.48 2.01 -10.3 LowPriStkK6 13.60 0.32 -11.4 Eq Inc n 63.72 2.89 -8.9 TotalBond K6 9.02 0.03 -11.1 CapDevO n 17.51 0.74 -11.7 BluChpGr K6 18.91 1.29 -32.1 MidCap n 35.69 1.27 -11.4 SrsCommStrt 4.98 -0.24 21.8 SAIUSQtyIdx 15.82 1.09 -16.5 DivIntl K6 11.50 0.39 -25.4 SAILTTreBdIdx 8.60 0.03 -23.5 SmlCpGrth K6 12.46 0.90 -26.1 Fidel n 60.23 3.95 -23.9 AstMgr30R n 11.36 0.21 -11.4 Trend n 119.55 9.17 -29.9 IntlCapiApp K6 11.93 0.66 -27.3 GlobCommStk n 17.61 -0.42 8.4 IntlGrRet n 15.64 0.67 -25.7 Contra n 13.81 0.78 -25.4 CALmtTrmTFB n 10.19 0.03 -4.8 CorpBd n 10.44 0.04 -14.9 IntlSmCap n 26.72 0.33 -17.3 BlueChipVal n 22.95 0.98 -5.9 MIMun n 11.33 0.08 -9.3 NewInsights Z 31.02 1.70 -24.9 MNMun n 10.91 0.06 -8.3 Manager40 n 12.16 0.28 -12.8 OHMun n 11.18 0.07 -9.4 CapAp n 35.80 2.30 -18.9 Manager60 n 13.68 0.45 -15.5 AilSectEq 9.24 0.55 -18.2 CpInc n 9.14 0.06 -12.5 GrStrt n 44.97 2.70 -29.2 ChinaReg n 36.50 1.51 -16.0 Utility n 27.90 1.73 0.7 Balanc n 25.42 1.09 -16.1 Europ n 29.52 1.06 -23.7 MuniInc n 11.97 0.10 -10.7 PcBas n 30.16 1.16 -22.7 Wrldw n 27.55 1.28 -23.3 BluCh n 124.43 8.21 -32.2 RealE n 45.00 3.09 -16.7 TaxFrB n 10.72 0.08 -10.6 SAIUSMinVolIndFd 17.15 1.09 -11.3 FocsdStk n 26.87 1.50 -22.6 SAIIntlMinVolInd 9.99 0.40 -13.8 NewMkt n 11.65 -0.02 -16.5 60.44 1.30 -6.4 Canad n AMgr20% n 13.38 0.17 -9.4 DivGth n 31.48 1.51 -14.0 STBF n 8.27 0.02 -3.6 GwthDiscovery n 44.37 2.98 -20.4 CapDevA 16.70 0.70 -11.9 SAISm-MidCap500I 9.27 0.48 -17.5 IntlScOpps n 18.39 0.53 -30.7 StratReRt n 9.05 -0.02 -2.7 IntBd n 10.11 0.05 -7.6 AggrInt n 20.63 1.14 -27.4 AMgr50% n 19.06 0.53 -14.2 SrsEmrgMkt 16.76 0.46 -20.3 EmrgMktsDebt 7.42 -0.02 -16.2 TotalBond n 9.68 0.04 -11.4 NJMun n 11.13 0.07 -10.4 LevCoSt n 37.01 1.76 -22.3 LtdTmBdFd n 10.93 0.04 -5.7 AdvSrsGroOpport 9.56 0.62 -32.0 Srs1000ValIndRet 13.81 0.69 -10.7 SrsBlChGroRetail n 11.22 0.73 -31.8 Fidelity SAI: TxFreeBd Muni Inc IntlValIdx USValueIndex

9.74 9.65 8.35 11.68

0.06 0.07 0.09 0.49

21.7 44.1 0.2 44.1 25.7 -5.0 29.1 23.7 6.6 -4.4 10.8 50.7 43.9 -2.0 32.3 30.2 -0.6 50.8 31.2 4.8 38.2 28.2 35.0 10.5 -5.1 16.0 6.0 44.0 35.9 32.8 0.1 36.7 53.4 36.5 53.9 44.7 11.9 -10.6 23.1 43.8 9.5 39.8 8.5 52.5 11.9 32.0 -0.5 -2.9 12.0 23.3 -1.2 23.8 -1.3 12.7 -1.9 46.7 17.9 46.2 13.3 21.8 25.5 18.6 32.0 2.9 -1.5 18.2 29.0 49.9 14.2 -1.2 28.1 41.9 -3.0 -13.2 29.8 6.4 26.7 0.5 54.6 35.5 29.7 9.0 20.1 -0.4 7.6 15.3 5.4 -11.4 -0.5 -1.1 38.2 -0.3 43.9 25.8 51.9

-10.1 -2.3 -10.4 -2.1 -9.8 6.3 -5.7 34.5

B A R R O N S .C O M / D ATA Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

FidSAIEmgMktIndx 13.19 0.25 SAIInflaFocFd 12.14 -0.52 FidSAIIntlIndxFd 11.64 0.37 U.S.TreBdIdx 9.02 0.05 SAIEmgMktLoVolIx 10.29 0.15 USMomentumIdx 13.27 0.79 LowDurationInc 9.89 0.00 ShortTermBd 9.56 0.03 TotalBd 9.18 0.04 Fidelity Selects:

-15.8 2.9 20.9 68.0 -17.7 6.0 -9.7 -3.4 -10.1 7.1 -21.2 31.7 -0.8 NS -3.4 NS -11.0 0.0

Pharm n 23.33 1.98 -0.6 46.6 Energy n 46.91 -0.99 33.1 39.2 Health n 25.87 2.40 -18.3 33.1 DfAero n 13.60 0.60 -6.9 -5.0 Leisr n 13.51 0.57 -20.5 20.7 101.59 6.94 -22.8 52.8 Broker n Chem n 15.27 0.47 -15.6 30.4 Comp n 74.60 3.07 -25.8 62.1 Semiconductors r n 15.45 0.73 -32.7 106.6 ConStap n 91.92 5.71 -4.4 32.0 Softwr n 22.32 1.79 -22.8 44.8 CstHou n 76.59 4.21 -29.1 58.9 Mat n 92.44 1.70 -15.4 38.2 Trans n 92.86 3.59 -12.2 34.3 Gold n 23.15 -0.67 -10.7 13.7 Biotech n 14.87 1.53 -23.2 8.7 Retail n 16.05 1.06 -29.0 28.9 FinSvc n 10.75 0.53 -13.0 34.8 UtilGr n 101.11 6.45 -1.7 23.7 Multimedia n 64.72 3.87 -28.7 22.3 HlthCareSrvPt r n 124.77 8.88 -5.3 59.5 Banking n 24.93 0.99 -14.5 22.5 NatRec n 32.84 -1.19 16.8 33.4 Envi&AltEngy n 27.33 1.72 -23.4 29.7 MdTchDevis n 58.88 4.57 -28.1 27.0 ITSvs n 53.83 4.44 -27.1 5.2 Tech n 19.61 1.28 -30.6 63.5 Fidelity Series: FASeriesEqGroFd 13.20 IntMuni Z 9.94 Canada 13.46 HthCarZ 60.20 STCrFd 9.61 FidelityAdviAsset:

0.89 -20.0 58.5 0.05 -7.1 0.2 0.27 -7.4 31.4 5.60 -18.3 27.8 0.02 -3.4 2.0

ADVAssetMan60 13.67 0.45 -15.5 18.1 First Eagle Funds:

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

SmCpValAdv 51.59 1.27 -15.6 28.9 CvtScAdv 20.15 0.62 -18.6 33.1 108.02 9.27 -33.0 24.9 Dynat Adv FrankTemp/Franklin A: FSmCoSer 16.98 0.44 -22.1 GrOp A 40.10 3.30 -30.7 RisDv A 81.76 4.63 -15.5 BioDis A 100.11 8.15 -18.6 BAL A 12.12 0.30 -9.3 FlRtDA A 7.45 -0.04 -3.5 TgtCon A 12.53 0.30 -14.1 SmCpGr A 16.46 1.31 -27.8 BalInv 31.51 1.40 -11.8 DynaTech A 103.77 8.90 -33.1 LwDuToRt A 8.93 0.01 -4.6 StrInc A 8.23 0.01 -10.9 FrkIntlGrthA 14.87 1.00 -30.4 CvtSc A 20.15 0.63 -18.7 TtlRtn A 8.52 0.02 -13.0 FoundFAlA 12.95 0.04 -11.2 CoreAll A 18.10 1.03 -19.8 Growth A 115.17 8.59 -23.5 SmMCpGrA 30.67 2.55 -31.0 GoldPrM A 17.57 -0.82 -20.1 SmCpVal A 48.26 1.18 -15.7 EqIn A 27.63 1.20 -12.3 FrankTemp/Franklin C:

1.6 25.4 33.9 -2.9 16.7 0.7 5.3 9.8 21.3 24.0 0.3 -4.7 8.1 32.0 -5.7 7.8 18.5 32.3 23.8 36.7 27.9 26.4

CA TF C 6.78 0.05 100.62 7.49 Growth C Income C 2.35 0.05 RisDv C 79.90 4.51 DynaTech C 83.77 7.18 FrankTemp/Franklin R:

-11.3 -23.7 -6.7 -15.8 -33.4

-3.6 29.3 16.8 30.9 21.2

FrkDynTchR6 109.43 9.40 115.94 8.65 FrkGrthR6 FrkIncR6 2.30 0.05 FrkTotRtnR6 8.58 0.02 FrkRisDivR6 81.70 4.63 FrkSmCpGrR6 19.21 1.53 TempGlbBndR6 8.01 -0.03 FrankTemp/Mutual A&B:

-33.0 -23.3 -6.1 -12.8 -15.4 -27.6 -6.7

25.2 33.6 19.7 -4.7 35.2 11.2 -16.0

Shares A 23.93 0.99 -10.5 10.5 Beacn A 15.71 0.66 -11.5 17.7 FrankTemp/Temp A:

US Val A US Val I GlbA Gold OverseasA FMI Funds:

18.66 19.08 58.86 22.03 22.91

21.6 22.6 17.2 31.2 6.4

GlSmCo A 8.50 0.33 -23.0 9.6 Growth A 21.18 0.72 -13.3 4.3 Frgn A 6.58 0.10 -8.6 1.8 World A 12.07 0.57 -19.7 -2.3 DvMk A 17.72 0.42 -20.9 -1.7 GlBond A 8.06 -0.02 -6.7 -16.9 FrankTemp/Temp Adv:

LgCapInvst n IntlInvst n FPA Funds:

16.44 0.76 -16.3 16.1 30.26 0.38 -15.0 2.5

GlBondAdv 8.02 -0.02 -6.6 -16.3 Frng Adv 6.47 0.10 -8.4 2.7 Frost Family of Fund:

NwInc n FPACres n Franklin:

9.64 0.02 -2.8 1.6 32.83 0.77 -11.3 21.0

0.60 0.61 1.57 -0.16 0.42

-8.3 -8.2 -8.8 -4.3 -9.5

FrnkGrowFdClA 14.55 0.49 -14.3 17.8 FrnkMdGrwthFdClA 14.16 0.43 -13.8 14.6 Franklin A1: PA TF A1 8.78 US Gov A1 5.30 CA TF A1 6.79 AZ TF A1 9.73 MO TF A1 10.50 OR TF A1 10.50 HY TF A1 8.90 HiInc A1 1.63 Fed TF A1 10.72 IncomeA1 2.31 Utils A1 21.45 CAHY A1 9.86 MIInsTF A1 10.48 CAInt A1 10.95 MNInsTF A1 11.16 OHInsTF A1 11.43 FedInt A1 11.03 NY TF A1 9.82 Franklin Templeton:

0.07 0.03 0.05 0.06 0.06 0.07 0.09 0.00 0.08 0.05 1.18 0.08 0.07 0.06 0.09 0.08 0.06 0.09

-11.4 -8.0 -11.1 -10.5 -10.8 -10.5 -13.4 -11.5 -11.6 -6.1 -1.4 -12.5 -10.5 -8.1 -11.0 -11.3 -8.8 -12.2

-4.3 -5.3 -2.1 -2.8 -3.3 -2.8 -1.8 3.0 -2.2 18.4 21.1 -2.2 -2.7 -2.6 -4.0 -3.9 -2.7 -4.4

TgtModA 13.20 0.43 -15.5 12.0 TgtGro A 16.01 0.67 -16.9 18.0 FrankTemp/Frank Adv: GrOpAdv HY TF Adv FedIntAdv FlRtDAAdv CA TF Adv Fed TF Adv CA HY Adv RisDv Adv SmMCpGrAv CA IntAdv Utils Adv IncomeAdv Growth Adv USGovAdv

44.70 3.68 -30.6 8.94 0.09 -13.4 11.06 0.07 -8.7 7.45 -0.05 -3.4 6.78 0.05 -11.0 10.73 0.08 -11.5 9.88 0.08 -12.4 81.70 4.62 -15.4 35.89 2.99 -30.9 10.98 0.06 -8.0 21.66 1.18 -1.4 2.29 0.05 -6.1 116.01 8.66 -23.4 5.32 0.03 -7.9

26.3 -1.5 -2.4 1.4 -1.8 -1.9 -2.0 34.9 24.7 -2.3 21.7 19.1 33.3 -4.9

FrTRInst

9.61 0.02 -5.4

2.2

G Gabelli Funds: ABC n 10.14 SmCapG n 38.25 Util A 7.35 Asset n 49.77 GabelliAsstFdClI49.66 SmCpGrwI 39.99 GAMCO Funds:

0.08 1.59 0.37 2.07 2.07 1.67

-2.9 -19.2 -5.8 -15.0 -14.9 -19.1

6.8 23.8 10.5 19.9 20.8 24.7

GwthAAA n 69.69 5.82 -30.2 29.0 Gartmore Funds: NationwideInstSv 23.56 Gateway:

GatewayA 36.01 1.14 -11.4 10.4 GE Elfun/S&S: Tax Ex n 10.27 0.07 -9.0 -1.1 Trusts n 65.47 4.03 -17.9 44.7 Glenmede Funds: SmCpEqAdv n 31.88 1.35 -13.2 40.9 GMO Trust Class III: EmgCntryDt 19.12 -0.08 NA NA Quality 25.91 1.63 -14.8 41.5 GMO Trust Class IV: Quality 25.98 1.63 -14.8 41.8 EmgCntrDt 19.09 -0.08 NA NA IntlEq 20.43 0.22 -14.3 14.9 GMO Trust Class VI: EmgMkts 24.80 0.33 NA NA Quality 25.92 1.63 -14.8 41.9 Goldman Sachs A: CapGr 24.85 NA NA NA HYMuni 9.10 0.10 -13.6 -1.1 IncBuilder 22.98 0.44 -11.5 12.4 MidCapVal 33.78 NA NA NA Muni 14.99 0.11 -9.7 -1.5 Goldman Sachs Inst: Muni HYMuni ShDuTF

14.98 0.11 -9.6 -0.6 9.10 0.10 -13.4 -0.2 10.31 0.03 -3.8 0.0

June 27, 2022

BARRON’S

MUTUAL FUNDS

D ATA Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

EmgMktEq Int SmCapVa Gotham:

21.64 11.63 47.13

NA NA NA

AbsRt Inst 16.87 NA GothamIdxPl Inst 18.67 NA Guggenheim Funds Tru: TotRtnBdFdClInst 24.33 0.04 TotRtnBondFdClA 24.31 0.04 FloRaStraFdInst 23.61 -0.11 MacOppFdClInstl24.24 -0.06 GuideMark Funds:

NA NA NA NA NA

-13.5 0.5 -13.6 -0.3 -4.3 4.7 -9.0 4.9

LgCpCorServ n 24.93 1.46 -18.6 37.9 GuideStone Funds: BalAllGS4 n 11.07 0.28 GrAllGS4 n 11.38 0.41 AggrAllGS4 n 11.13 0.51 LowDurGS2 12.85 0.03 MedDurGS2 13.03 0.08 EqIndxGS4 n 40.97 2.45 EqindxGS2 40.95 2.45 ValEqGS2 18.64 0.86 GrEqGS4 n 19.17 1.36 GrEqGS2 19.53 1.39 SmCapGS2 15.81 0.91 IntEqGS2 12.16 0.40

NA NA NA NA NA NA NA NA NA NA NA NA

H Harbor Funds: CapApInv n 63.59 SmCpGwth 11.42 Bond 10.45 IntlInst 38.84 CapApInst 68.67 LgCpValue 19.35 SmCpValInst 36.88 Harding Loevner:

5.09 -32.0 0.72 -25.1 0.04 -11.2 0.91 -17.7 5.50 -31.9 0.93 -16.7 1.83 -13.3

32.1 29.9 -1.8 8.9 33.6 33.6 24.6

EmgMktsAdv n 44.59 1.85 -25.1 -10.5 IntlEq 23.23 0.90 -22.7 8.7 Hartford Funds A: FltRateA 7.75 -0.05 CapAppA 34.63 2.17 IntOppA 15.30 0.46 BalIncA 14.21 0.36 DivGth A 30.40 1.58 Muti-AstIncGw 18.12 0.30 TotRBdA 9.24 0.05 40.46 2.54 DiscpEqA ShtDur 9.36 0.01 Chks&Bal 9.37 0.37 EqInc 21.40 1.05 GrowAllA 12.36 0.49 MidCap A 25.02 1.54 GrOppty 31.40 2.67 Hlthcare 34.09 2.66 Hartford Funds C:

-6.1 -18.6 -19.7 -10.8 -10.5 NA -12.8 -18.2 -5.3 -13.9 -5.9 -16.0 -23.7 -33.8 -15.7

1.6 20.8 10.2 11.3 39.9 NA -3.4 33.9 0.1 18.7 32.8 15.0 11.4 16.5 32.8

Bal IncC 13.95 0.36 -11.1 8.8 DiscpEqC 36.43 2.28 -18.6 30.9 Hartford Funds I: BalIncI 14.22 0.36 -10.7 ShtDur 9.32 0.01 -5.1 WorldBond 9.90 0.07 -4.6 InterValue 14.57 0.14 -8.5 IntlAlphaInv 14.39 0.56 -20.0 MunOpptI 8.17 0.05 -9.4 StrInc 7.66 0.02 -13.7 CapAppI 34.90 2.18 -18.5 EmrgMktEqInv 15.58 0.30 -18.3 DivGthI 30.23 1.57 -10.4 EqIncI 21.25 1.04 -5.8 FltRateI 7.70 -0.05 -6.0 GrowOppI 34.74 2.96 -33.8 IntlOpp 15.20 0.46 -19.6 MidCap 26.37 1.63 -23.6 Hartford Funds Y:

12.1 1.0 -3.6 12.1 22.4 -1.1 0.5 21.8 4.2 41.0 33.8 2.4 17.4 11.3 12.2

IntOppY 16.20 DivGthY 31.37 DiscpEq 41.10 IntlValY 14.93 MidCapY 32.82 Hartford HLS Fds IA:

0.49 1.63 2.58 0.14 2.02

-19.6 -10.4 -18.2 -8.5 -23.6

11.3 41.2 35.0 12.2 12.5

IntlOpp 16.75 Div&Grwth 24.67 TotRetBd 9.83 103.16 Stock UltraShBd 9.89 Balanced 30.98 CapApp 45.28 DiscEqui 17.04 MidCap 30.74 SmCpGrwth 26.39 Heartland Funds:

0.50 1.32 0.05 5.85 0.01 1.32 2.88 1.07 1.89 1.95

-19.9 -10.6 -12.9 -9.4 -1.1 -12.7 -16.5 -18.3 -23.7 -27.9

11.2 41.4 -2.8 37.0 1.2 26.6 26.6 35.7 12.3 12.5

Val Inv n 40.32 1.34 -13.2 25.8 Hennessy Funds: FocInv GasUtilIndInv

55.61 3.46 -19.5 23.7 26.11 1.10 4.4 15.2

D ATA P R O V ID E D BY LIPP E R

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

Homestead Funds: ShtTmBd n 4.90 0.01 -5.1 0.0 Value n 47.87 2.21 -11.9 30.5 Hotchkis and Wiley: HiYldI 10.06 -0.01 -10.7 0.5 SmCpVal 67.55 1.34 -6.3 38.4 Hussman Funds: StrGrowth n

7.08 -0.10 16.1 23.8

I IFP US Equity Fund: IFP US EquityFd 19.54 INVESCO A Shares:

AmValA 34.10 1.05 -13.4 22.7 Invesco Fds Investor: GlHltCr n 33.18 2.59 -17.5 22.0 DivrsDiv n 18.50 0.80 -6.4 20.8 Tech n 42.08 2.78 -29.9 29.1 Invesco Funds A: AMTFrNY 10.48 0.11 -13.3 ActiveAllA 12.43 0.47 -19.4 500InxA 41.39 2.51 -17.5 BalancedRiskAllA 8.70 0.11 -10.2 CapApprA p 51.70 3.48 -25.6 Chart 15.54 0.93 -19.4 CmstA 27.88 0.82 -5.2 CoreBdA p 5.90 0.03 -12.3 CpBdA 6.31 0.01 -15.8 DevMktA 36.19 1.21 -24.3 DiscFdA p 70.92 5.28 -31.9 DisMdCpGrA 20.75 1.28 -31.4 DivIncm p 24.28 1.05 -4.3 DivrsDiv p 18.50 0.80 -6.5 EqIncA 10.05 0.26 -10.8 EqInvA 12.90 0.56 -19.9 EqWtdA p 67.26 3.73 -14.5 FltgRate p 6.85 -0.03 -4.6 GblAllocA 17.44 0.41 -16.6 GblStrIncmA p 3.04 0.01 -13.8 GlbOppA p 46.67 2.92 -37.1 Glcoreeq p 13.04 0.71 -18.6 GlGr 22.05 1.30 -29.2 GlHltCr 33.17 2.59 -17.5 GrIncA 21.57 0.82 -11.1 GrowAlloc p 13.63 0.52 -19.1 Hyld 3.44 0.02 -11.4 HYMuA 8.83 0.08 -13.3 IntlBdA p 4.20 0.01 -16.6 IntlDivA 16.04 0.57 -25.5 IntlGrow 21.51 0.75 -20.6 IntlGrowA p 32.78 1.65 -28.4 IntlSmCoA 38.97 1.78 -31.8 IntTMIA p 10.29 0.07 -9.6 InvescoFd p 21.86 -0.81 -16.6 InvGloblFdA 88.21 5.18 -29.0 LmtdTrmMunInc p 11.01 0.03 -3.6 MnStFndA 45.92 2.76 -19.3 MnStOpA p 20.48 1.24 -17.8 MnStSmCpA p 23.30 1.34 -17.7 ModInvA 10.03 0.31 -17.4 MunInA 11.99 0.11 -12.0 QualityIncomeA 10.12 0.08 -9.8 RchHiYldMuniA 6.90 0.09 -13.7 RealEst p 19.99 1.31 -16.7 RisingDivA 21.63 1.20 -15.3 RochAMTFrMuni 6.89 0.07 -11.6 RochCAMuni 7.95 0.09 -12.5 RochLmtTrNYMuni p 2.80 0.02 -7.4 RochPAMuni 10.36 0.07 -9.6 RoMu A p 14.95 0.21 -14.4 SenFltRtA 6.69 -0.04 -3.5 ShortTerm p 8.06 0.01 -4.9 SmCpEq p 11.49 0.59 -23.3 SmCpGr 23.36 1.64 -35.7 SmCpValA t 17.19 0.42 -6.4 SP IncomeA 4.10 0.11 6.3 Tech p 42.22 2.79 -29.9 ComstkSel 32.95 1.29 -3.5 Invesco Funds C:

-3.3 11.6 37.4 11.3 38.5 27.2 38.4 -3.3 -1.2 -11.4 25.4 23.6 20.8 20.4 23.6 13.9 34.9 4.8 11.4 -11.9 -4.0 15.4 -1.0 22.0 27.1 9.8 -1.4 -1.9 -17.7 1.1 1.8 6.8 2.3 -2.0 29.2 14.4 1.5 28.4 37.0 21.9 8.0 -2.0 -4.9 1.7 10.4 33.5 2.8 -1.1 0.1 2.2 -0.3 -1.7 -0.5 26.5 14.8 59.5 15.9 28.7 37.0

EqWtdC 63.56 3.52 -14.9 32.0 RchHiYldMunC 6.87 0.09 -13.9 -0.2 StlpathMLPAlphFd 3.50 0.09 5.8 13.5 Invesco Funds Instl: SmCpGr 29.84 2.11 -35.6 16.0 Invesco Funds P: Summit P pn 20.04 1.24 -26.2 30.8 Invesco Funds R: Invesco 30.13 0.62 -20.8 -3.8 Invesco 22.04 0.77 -20.5 3.1 Invesco Funds Y: BalancedRiskAllY 8.91 CoreBdY 5.86 DevMktY 35.62 DiscovY 87.35 EqWtdY 68.15 GlblOppY 47.99

0.10 -10.2 0.03 -12.3 1.19 -24.2 6.51 -31.8 3.78 -14.4 3.00 -37.0

12.0 -2.6 -10.7 26.3 35.9 -3.4

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

GloblY IncomeY IntGrowY IntlBdY IntlSmCoY Invesco Invesco MnStFndY RocMuniY Sel40Y Ivy Funds:

89.01 4.36 32.56 4.20 38.68 21.59 30.24 45.51 14.95 5.97

5.23 -29.0 0.12 6.4 1.64 -28.3 0.02 -16.5 1.78 -31.7 0.76 -20.5 0.63 -20.8 2.73 -19.3 0.21 -14.3 0.11 4.4

15.2 16.8 7.6 -17.0 3.1 2.6 -4.2 29.3 0.4 5.5

AssetStrA p 20.56 0.67 -15.3 AssetStr I r 20.95 0.69 -15.2 BalancedA p 22.82 0.87 -15.9 CoreEqA t 15.80 0.94 NA EmgMktEqFdI 20.03 NA NA HiIncA p 5.87 -0.03 -14.0 HiIncI r 5.87 -0.03 -13.9 IntlCorEqI r 17.44 0.52 -16.6 LgCpGwthA p 26.21 1.94 NA LgCpGwthl r 28.34 2.10 NA MidCapI 30.08 2.32 NA MdCpGwthA p 26.73 2.06 NA MuniHighIncA t 4.43 0.05 NA ScTechA p 51.03 3.35 -28.4 ScTechI r 61.67 4.04 -28.3 SmCapGrA t 11.86 0.98 NA SmCapGrI r 19.26 NA NA

15.8 16.7 22.0 NA NA -1.0 -0.4 9.5 NA NA NA NA NA 28.5 29.2 NA NA

J Janus Henderson: Balanced C Balanced S Balanced T n Contrarian T n Enterprise Inst Enterprise T n GlbEqIncA GlbResch T nr GblResh Inst GlbSel T n GlLifeSci T nr GlTech T nr Grw&Inc T n MdCpVal T n Overseas T nr Resh T n Venture T n Jensen I :

37.92 38.45 38.56 23.66 68.18 128.60 6.29 82.29 50.18 15.63 60.67 36.32 65.59 15.02 38.08 49.98 71.61

1.47 -16.2 1.49 -16.0 1.50 -15.9 1.55 -19.6 3.56 -17.6 6.71 -17.8 0.13 -8.1 4.34 -19.7 2.64 -19.5 0.61 -12.7 4.63 -11.9 3.28 -32.7 3.97 -16.4 0.67 -10.0 0.70 -13.7 3.85 -26.5 4.13 -25.3

18.9 20.8 21.7 43.1 24.3 25.2 14.8 23.9 24.5 31.9 32.7 35.9 30.4 16.8 27.2 28.5 12.5

Jensen I 55.97 3.93 -16.6 41.4 JensenQualGrJ n: JensenQualGrJ n 56.04 3.93 -16.7 40.5 JHF III DispVal: DispVal 22.24 DispVal I 21.36 DispValMCI 24.31 DispValMdCp 23.16 DispValMdCpR6 24.31 DispValR6 21.42 JHITFunLgCpCorFd:

0.96 0.92 1.07 1.02 1.07 0.93

-9.0 -8.9 -12.2 -12.3 -12.1 -8.8

30.4 31.4 29.5 28.6 30.0 31.8

FunLgCpCorA 57.03 3.92 -20.3 37.0 FunLgCpCorI 60.26 4.15 -20.2 38.0 JHSTRSRIF: IncomeI StrIncA p John Hancock:

5.79 0.03 -10.2 0.0 5.81 0.04 -10.1 -0.9

500Index1 43.29 2.62 -17.4 BondI 13.87 0.06 -12.6 BondR6 13.89 0.05 -12.6 CapApprNAV 11.73 0.94 -32.0 ClassicVal I 36.83 1.57 -8.2 FlteRteIncmI 7.62 -0.03 -5.5 IntlGrwI 26.33 0.87 -24.4 MdCpIdxI 20.56 1.01 -17.4 Science&TechI 25.52 2.01 -30.3 TotalStkMktIdxI 24.97 1.54 -19.1 VolGrw1 11.37 0.18 -14.4 John Hancock Class 1:

38.4 -2.1 -1.8 35.1 27.9 4.7 10.6 26.1 31.6 34.1 2.0

BlueChipGrw CapAppr LSAggr LSBalncd LSConserv LSGwth LSModer RetCho2015 RetCho2025 RetCho2030 RetCho2035 RetCho2040R4 RetCho2045 RetCho2050R4 RetLiv2025 RetLiv2030 RetLiv2035 RetLiv2040 RetLiv2045

17.8 34.9 23.6 15.5 4.4 20.0 10.1 3.2 7.6 10.7 14.0 16.2 17.6 17.9 15.9 17.7 19.8 21.6 22.5

39.37 11.64 13.86 13.05 11.71 13.62 12.08 10.25 10.71 11.57 12.27 12.71 13.03 11.64 9.36 9.80 10.23 10.51 10.39

3.17 -29.7 0.93 -32.0 0.61 -17.9 0.37 -15.2 0.14 -11.2 0.51 -16.6 0.23 -13.0 0.11 -9.5 0.17 -11.6 0.29 -14.9 0.40 -16.8 0.46 -17.5 0.51 -17.8 0.47 -18.0 0.25 -15.5 0.32 -17.0 0.39 -17.9 0.45 -18.5 0.47 -18.7

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

John Hancock Funds A: BalA 22.89 BondA p 13.86 InvGrBdA 9.38 IntlGrw 26.22 LifeAggr 13.93 LifeBal 13.16 LifeConsv 11.73 LifeGrw 13.68 LifeMod 12.16 USGlobLdrs 50.46 John Hancock Instl:

0.70 -15.1 0.05 -12.8 0.04 -12.0 0.87 -24.5 0.62 -18.0 0.37 -15.3 0.14 -11.3 0.51 -16.8 0.24 -13.1 3.97 -26.6

19.5 -3.0 -3.7 9.6 22.4 14.3 3.3 18.6 9.0 27.6

BalancedI 22.86 0.68 -15.0 20.6 StratIncmOppI 9.83 0.06 -10.3 1.0 USGlbLdrsGrwI 56.47 4.44 -26.5 28.5 JPMorgan A Class:

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

EmgMktEq 15.62 GlbLstInfr 16.18 IntlEq 15.14 IntStrtEq r 13.48 USEQ Concen Inst 16.44 Legg Mason I: IntlGrTrI OpporTrI LKCM Funds:

0.07 0.20 0.50 0.49 1.01

-13.8 -2.7 0.1 21.1 -15.8 1.7 -17.7 1.8 -16.5 23.4

52.44 2.44 -24.0 7.0 29.44 1.81 -29.8 13.2

LKCMEqInst 32.06 1.55 -17.1 35.9 Longleaf Partners: Intl n 13.62 0.42 -20.4 -16.7 Partners n 21.73 0.93 -12.4 29.4 Sm-Cap n 23.08 0.85 -12.2 13.5 Loomis Sayles Fds: 0.08 -11.8 0.08 -11.9 0.07 -11.3 0.10 -12.6 1.71 -26.9

-3.7 -4.4 -1.5 -4.7 15.5

InvBal p 14.39 0.41 -13.5 13.5 InvConsvGr t 12.05 0.23 -11.7 6.6 JPMorgan Funds:

Affiltd p 15.78 0.79 -14.7 BdDeb p 7.21 0.00 -12.1 CalibrDivGr 17.27 1.04 -16.5 CoreFxdInc p 9.73 0.05 -11.1 DevGt p 17.51 1.25 -34.0 FloatRt p 7.90 -0.03 -4.3 FundlEq p 11.90 0.67 -14.0 HiYldA t 6.29 0.00 -13.9 HYMuniBd p 10.84 0.12 -15.2 IncomeA p 2.49 0.00 -13.6 IntrTxFr 10.05 0.07 -10.5 MidCapStk 29.01 1.37 -15.5 MultiAstBalOppty 10.11 0.31 -16.4 MultiAstInc 14.53 0.31 -14.3 ShDurTxFr 15.04 0.03 -4.4 ShtDurIncmA p 3.92 0.01 -4.6 TaxFr p 10.31 0.10 -14.0 TotRet p 9.12 0.04 -11.6 ValOpps p 16.83 0.89 -21.8 Lord Abbett C:

17.2 0.2 31.2 -2.9 6.8 1.0 23.8 -1.5 -3.0 -2.0 -2.9 21.0 16.3 9.7 -1.0 0.9 -3.9 -3.4 25.5

Fl EmMktEq L 29.33 1.13 -23.0 2.0 MdCpVal L 36.95 1.66 -11.2 25.3 USEquity L 18.23 1.09 -17.5 49.4 JPMorgan I Class:

BdDeb FloatRt p ShtDurIncmC t Lord Abbett F:

CoreBond 10.54 CorePlusBd 7.44 EmMktEq I 29.08 EqInc 21.96 EqIndx 58.91 GrAdv r 25.02 GvBd 9.80 HighYld 6.30 IntlEq 16.19 IntmdTFBd 10.03 InvConGw 12.20 InvGrwth 21.85 LgCapVal 17.90 LgCpGwth 47.10 MdCpGrw 38.44 MdCpVal 36.33 MidCapEq 50.81 MtgBckd 10.40 ShtDurBnd 10.59 SmCap 54.87 SmCapGrw 17.17 TxAwEq 36.62 TxAwRRet I 9.41 USEquity 18.18 USLgCpCorPls 19.30 USRechEnhEq 30.33 ValAdv 37.08 JPMorgan Inst Class:

BdDeb FloatRt p HiYld p HYMuniBd IntrTxFr ShtDurIncm TotRet Lord Abbett I:

7.20 0.00 7.90 -0.02 6.28 0.00 10.84 0.11 10.04 0.06 3.91 0.01 9.12 0.04

-12.1 -4.2 -13.9 -15.2 -10.6 -4.5 -11.6

BdDebentr DevlpGro FloatRt HiYld ShtDurInc p TotRet LSVValEq :

7.17 0.00 23.01 1.64 7.91 -0.03 6.32 0.00 3.91 0.01 9.13 0.03

-12.0 0.7 -33.9 7.6 -4.2 1.8 -13.7 -0.9 -4.5 1.2 -11.6 -2.7

LSVValEq

26.28 1.15 -9.5 27.6

CoreBond 10.55 CorePlusBd p 7.44 EmMktEq t 28.35 EqInc p 21.54 EqIndx p 58.80 GroInc p 61.59 GwthAdv p 23.70 Inv Bal p 14.69 InvCon p 12.12 InvG&I p 17.16 InvGrwt p 21.23 LgCpGwth p 45.85 MdCpGrw p 31.05 MdCpVal p 35.73 ShrtDurBd p 10.57 Sm Cap p 44.72 SR2020 p 14.84 SR2030 p 17.02 SR2040A p 18.90 USEquity 18.10 ValAdv t 36.82 JPMorgan C Class:

0.05 -10.1 0.04 -10.8 1.09 -23.1 1.11 -7.4 3.57 -17.5 3.10 -8.4 1.76 -25.4 0.42 -13.3 0.24 -11.5 0.61 -14.6 0.93 -16.4 2.82 -24.0 2.30 -26.6 1.61 -11.4 0.03 -3.6 2.77 -18.3 0.31 -13.3 0.56 -16.0 0.81 -17.3 1.09 -17.6 1.63 -7.1

0.04 -10.0 0.04 -10.6 1.12 -23.0 1.13 -7.3 3.57 -17.4 1.86 -25.3 0.06 -9.1 0.04 -11.3 0.57 -22.6 0.06 -8.4 0.23 -11.5 0.96 -16.3 0.76 -5.2 2.90 -23.9 2.84 -26.5 1.64 -11.2 2.80 -17.4 0.06 -7.5 0.03 -3.5 3.40 -18.2 1.52 -28.9 2.20 -19.0 0.04 -6.0 1.09 -17.5 1.13 -20.0 1.87 -17.2 1.64 -7.0

-2.3 -2.6 0.9 30.4 37.8 35.1 54.2 15.2 8.2 21.4 27.6 50.2 30.2 23.5 1.6 21.6 5.4 10.6 17.9 47.8 27.9

-1.6 -1.7 1.7 31.1 38.9 55.3 -3.4 0.7 5.0 -1.1 9.0 28.6 44.6 51.3 31.4 24.5 31.8 -1.0 2.4 22.6 18.0 43.5 6.8 48.8 43.8 45.0 28.9

ValAdv L 37.13 1.65 -6.9 29.5 JPMorgan R Class: CoreBond 10.56 CorePlusBd 7.45 HighYld r 6.30 LimDurBd 9.74 MtgBckd 10.39 ShtDurBnd 10.59 SmCpEqR5 55.12 SmCpVal 25.73 USEqR5 18.24 USRechEnhEq 30.29 JPMorgan R5 Class:

0.05 0.04 0.04 0.02 0.06 0.03 3.42 0.94 1.10 1.87

-9.9 -10.6 -11.3 -3.0 -7.6 -3.4 -18.1 -15.9 -17.4 -17.1

-1.0 -1.5 1.2 1.1 -0.7 2.6 23.3 31.3 49.5 45.5

SR2020 R5 14.96 0.32 -13.1 6.4 SR2030 R5 17.17 0.57 -15.8 11.6 SR2040 R5 19.08 0.81 -17.2 19.0 JPMorgan Select Cls: SmCpGrL

18.00 1.59 -28.9 18.6

L Laudus Funds: USLgCpGr nr Lazard Instl:

21.48 1.66

LSBondI LSBondR pn LSCorBndA p LSStrIncA p SmCpGI Lord Abbett A:

11.86 11.79 11.80 12.24 23.42

7.23 0.00 -12.4 -1.8 7.91 -0.03 -4.6 -0.8 3.94 0.01 -4.8 -1.2 0.5 1.4 -1.3 -2.8 -2.6 0.9 -3.0

M MainStay Fds A: ConvtA FltgRateA t HiYldBdA IncBldr LgCpGrA p MAPA p TxFrBdA MainStay Fds I:

17.53 0.43 -14.3 8.58 -0.03 -4.5 4.98 0.01 -9.6 17.70 0.62 -14.3 8.28 0.61 -29.2 27.26 1.39 -8.4 9.35 0.09 -11.2

34.9 3.5 3.5 6.9 30.4 46.2 -1.5

EpochGlb r 18.88 0.81 -8.4 13.7 MacKaySTMuni 9.32 0.03 -3.4 0.4 S&P500IdxA 48.86 2.96 -17.5 37.6 Mairs&Power: MairsPwrBal n 99.54 4.10 -14.5 19.6 MairsPwrGr n 131.58 8.54 -19.1 34.9 Marsico Funds: Focus pn 20.07 1.28 -27.0 42.8 Mass Mutual: SelBluChipGroClI 20.77 1.59 -28.2 21.2 MassMutual Premier: CoreBdI 9.52 0.04 -12.6 -1.7 MassMutual Select: IdxEqI 17.31 1.05 -17.3 20.00 1.28 -24.0 MCGrEqIII MCpGrEqIIS 19.64 1.25 -24.1 PIMCITRetI 8.84 0.07 -11.8 Matthews Asian Funds: AsiaDivInv nr ChinaInv n IndiaInv nr PacTigerInv nr MergerFd:

14.49 17.70 24.35 23.06

0.58 1.12 0.84 0.73

39.3 18.3 17.9 -2.3

-23.3 3.6 -14.0 20.1 -13.6 17.8 -16.3 7.1

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

MergerFundThe pn 17.06 0.17 Meridian Funds:

Growth n 35.72 2.30 -25.2 17.0 Value n 37.57 1.62 -18.1 38.3 Metropolitan West: HiYldBdI IntmBdI LowDurBd n LowDurBdI TotRetBd n TotRetBdI TRBdPlan UnconstrBdI MFS Funds:

9.08 9.70 8.37 8.38 9.50 9.50 8.91 10.59

0.05 0.06 0.02 0.03 0.06 0.06 0.06 0.01

-12.8 -7.8 -4.6 -4.4 -12.2 -12.1 -12.0 -7.9

3.9 -0.3 -0.4 0.2 -3.3 -2.7 -2.5 -0.7

IIE 27.50 1.08 -17.8 13.7 MFS Funds Class A: AgGrAIA 25.14 CoEqyA 39.76 GlEqA 47.40 GlTotA 16.08 GrowthA 133.17 GvScA 9.07 40.04 IntlVA IntNwDA 28.99 LtdMA 5.73 MCapA 22.32 MCapValA 27.50 MIGA 35.29 MITA 35.23 MuHiA 7.48 MuInA 8.11 MuLtdA 7.85 NewDA 21.08 ReInA 19.77 ResBdA 9.71 RschA 50.33 TechA 47.94 TotRA 18.85 UtilA 23.26 ValueA 47.50 MFS Funds Class C:

NA NA 2.48 -16.4 2.19 -19.2 0.44 -12.9 9.77 -26.1 0.06 -9.3 1.79 -24.4 0.94 -20.8 0.01 -4.3 1.57 -27.8 1.29 -12.7 2.39 -17.3 2.22 -15.5 0.07 -12.4 0.06 -10.8 0.03 -5.5 1.49 -28.3 0.72 -19.1 0.03 -11.8 3.15 -16.7 3.62 -27.1 0.62 -11.8 1.09 -4.1 2.33 -11.9

NA 36.0 16.1 9.2 30.4 -4.3 7.0 -2.0 1.0 18.3 30.5 43.6 33.0 -1.7 -1.9 -0.2 16.0 11.4 -2.6 32.3 29.4 17.6 23.5 25.3

GrowthC 100.25 7.34 -26.3 27.5 MFS Funds Class I: BondI 12.27 0.03 -15.3 143.94 10.57 -26.0 GrowthI IntNwDI 30.00 0.97 -20.8 24.00 1.69 -27.7 MCapI MCapValI 28.31 1.33 -12.6 MIGI 36.71 2.48 -17.2 MITI 33.94 2.14 -15.4 ResBdI 9.71 0.03 -11.8 RschI 51.94 3.25 -16.6 TotRI 18.84 0.61 -11.7 ValueI 47.79 2.32 -11.8 Miller Convertible B: MillerConvBndFd 12.39 Mondrian:

-2.8 31.4 -1.3 19.2 31.5 44.7 34.0 -2.2 33.3 18.5 26.2

B A R R O N S .C O M / D ATA Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

InvGradeBdA p 9.96 0.03 -10.2 2.7 InvGradeBdY 9.97 0.04 -10.0 3.5 LSGrowthY 19.69 1.44 -24.9 26.3 USEqOppsA 32.72 1.74 -21.1 29.5 Neuberger Berman Fds:

SmCpVal 13.99 0.55 -14.5 24.2 Osterweis Strat Income:

EmgMktInst 17.90 0.35 -19.4 EqIncInst 13.34 0.48 -7.2 FltRteIncInst 9.16 -0.03 -4.6 GenesInst 59.50 3.81 -20.4 HiIncBdInst 7.43 0.03 -12.7 IntrinsicValInst 18.21 0.75 -21.3 LCVal Inst 41.29 1.49 -6.7 LgShInst 16.72 0.45 -6.6 MdCpGrInst 13.95 0.96 -27.4 MidCapGroR6 13.96 0.96 -27.4 NeubCrBdInst 9.26 0.05 -11.2 REInst 15.50 0.96 -18.5 StrIncInst 9.67 0.03 -11.1 SustainableEqIns 38.47 2.32 -18.2 Neuberger Berman Inv:

-5.0 22.7 6.7 27.3 0.9 34.0 47.9 23.6 21.7 22.1 -1.4 22.0 1.4 33.9

Focus n 20.98 Genes n 59.42 Guard n 21.59 IntlEqInst r 11.45 LCVal n 41.32 MdCpGrInv n 13.93 Neuberger Berman Tr:

15.8 26.7 55.2 8.8 47.1 21.1

1.23 -29.7 3.81 -20.5 1.47 -20.0 0.46 -24.1 1.49 -6.8 0.96 -27.4

ActMIntlEq nr 10.16 BdIdx n 9.44 EmMktsEqIdx nr 11.01 FixIn n 9.14 GlbREIdx nr 9.77 HiYFxInc n 5.74 HiYMuni n 7.56 IntlEqIdx nr 11.93 IntTxExpt n 9.76 MidCpIdx n 19.48 ShIntTaxFr n 9.86 SmCapIdx n 12.32 SmCpVal n 18.31 StkIdx n 42.85 TxExpt n 9.65 Nuveen Cl A:

0.33 NA NA 0.05 NA NA NA NA NA 0.04 NA NA 0.34 NA NA 0.01 NA NA 0.10 NA NA 0.39 NA NA 0.07 NA NA 0.94 -17.4 27.2 NA NA NA 0.70 -20.9 19.0 0.59 NA NA 2.44 -17.4 39.1 0.10 NA NA

AAMunBd p CAMunBd p HiYldMuBd p IntDMunBd p LtdMnBd p NYMunBd p Nuveen Cl I:

10.13 10.11 15.27 8.70 10.74 9.83

0.11 0.09 0.15 0.04 0.02 0.10

-16.4 -12.0 NA -8.8 -5.1 -12.1

-5.9 -3.8 NA -1.3 0.5 -3.9

HYMunBd Nuveen Cl R:

15.27 0.15

CapGrI 36.11 5.35 -51.4 CapGrP p 32.95 4.88 -51.5 CorPlusFxdIncI 9.95 0.05 -11.8 Discovery I 13.34 2.15 -52.7 DiscoveryA p p 9.09 1.47 -52.8 GloFranI t 31.16 2.04 -15.8 Insight I 36.87 5.38 -51.8 InsightA p 31.73 4.64 -51.8 IntlEqI 12.82 0.47 -15.8 MorganStanleyPathway:

0.3 -0.4 -2.4 -2.3 -3.0 23.3 -4.8 -5.5 3.2

CAMunBd IntDMunBd LmtTrmR NYMunBd Nuveen Fds:

10.13 8.73 10.70 9.83

RealEst ShTxFrY

18.62 1.16 -18.1 13.6 9.78 0.02 -3.1 0.4

CoreFxIcm n 7.14 EmgMkt n 12.62 LgCapEq n 20.70 Sm-MdCapEq nr 16.18 Munder Funds:

-12.4 -19.5 -19.1 -18.6

-3.6 -7.2 30.2 24.9

MndrIntlSmCpInv r 12.83 0.22 -23.8 Munder Funds Cl Y:

9.4

18.6 15.0 15.9 7.7 8.5 11.3

N Nationwide Fds R6: IntIdxR6 7.16 Nationwide Fds Serv:

IDAggr p IDMod p IDModAggr p Natixis Funds:

NA NA NA

8.29 8.58 8.54

NA NA

9.71 -0.04 -2.5

4.1

ParnEqFd n 52.09 3.15 -17.8 37.7 Parnsus n 44.61 3.68 -30.7 5.7 Pax World Fds: SustAll Inv n Paydenfunds:

24.72 0.99 -14.7 23.1

EqIncInv n LowDur n LtdMat n Pear Tree:

16.52 0.68 -9.9 21.3 9.65 0.02 -3.4 1.0 9.37 0.00 -1.0 2.4

Balanced 14.85 HighYield 4.68 JennBlend 18.64 JennFocGrowth 14.76 JennGrowth 40.41 JennHealthSci 32.36 JennMidCapGrowth 12.35 JennSmallCompany p 17.23 JennUtility 15.05 NationalMuni 13.73 QuanLrgCapCoreEq 15.87 ShrtTermCorpBond 10.30 TotalReturnBond p 12.44 PGIM Funds Cl C:

0.0

-11.4 -7.4 -7.3 -5.3 -5.3 -10.4

Income Plus Parnassus Fds:

NA NA

Permanent n 45.70 0.50 -8.4 27.2 PGIM Funds Cl A:

FxInOpp I 5.19 -0.02 -7.3 Morgan Stanley Inst:

0.67 0.94 0.96 0.32 0.32 1.00

PortOptModAggClA p 12.21 PortOptModClA r 11.58 Palmer Square:

0.50 NA NA 1.33 NA NA 0.96 NA NA 0.02 -12.3 -2.2

EqInc I n 19.24 0.97 -11.2 33.0 Nch II I 28.37 2.02 -18.8 25.7 Nich n 69.36 4.67 -18.4 34.7 Northern Funds:

3.5

15.91 28.53 29.28 13.46 13.70 24.27

IntlEqty P 14.98 lcGEqty P 20.10 lcVEqty P 19.98 StraFxd P 12.00 Pacific Life Funds:

Growth n 50.15 3.05 -18.6 36.3 Nicholas Group:

IntlValEq n 13.18 0.31 -9.4 Morg Stan DW Inst:

BeacnZ GlbDiscA GlbDiscz QuestA t QuestZ SharesZ

PACE Funds Cl P:

ForeignVal I r 19.57 -0.04 -18.2 -1.8 PearValR6 9.90 -0.02 -18.2 -1.5 PearValSCapInst 13.75 0.01 -18.1 11.8 Perm Port Funds:

MndrSCVClY p 34.73 1.33 -13.8 27.8 Mutual Series:

6.1

Genes n 59.28 3.79 -20.5 26.4 GenesisFdR6 59.51 3.81 -20.4 27.7 New Covenant Funds:

0.05 0.25 1.28 0.86

OsterweisStrInc n 10.34 0.01 -8.1 PQ

0.10 0.05 0.02 0.10

-11.9 -3.1 -8.6 -0.6 -5.0 1.1 -12.1 -3.4

O Oak Associates Funds: RedOakTec n 32.22 1.90 -24.0 32.8 Oakmark Funds Invest: EqtyInc nr 29.70 GlbSel nr 18.18 Global n 28.83 Oakmark n 99.64 OakmrkInt n 23.16 Select n 52.64 Oberweis Funds:

0.86 0.64 1.00 4.65 0.26 2.30

-13.4 -20.1 -16.9 -16.4 -17.6 -18.1

22.6 20.1 20.4 39.7 5.5 32.2

IntlOppInst 8.60 0.20 -34.4 12.9 Old Westbury Fds: AlCpCore n 20.65 CreditIncomeFd n 8.60 FixInc pn 10.29 LrgCpStr n 14.75 MuniBd pn 11.41 OWstbryNYMuBndFd n 9.74 Sm&MdCapStrategi n 13.91 Optimum Funds Inst:

1.28 -21.1 0.06 -12.7 0.05 -7.1 0.81 -21.7 0.05 -6.2 0.05 -5.9 0.59 -22.9

33.4 NS -1.9 14.0 -1.6 -1.5 7.0

Fixed Inc Intl Eqty LgCpGrwth LgCpVal SmCpGrwth

0.04 -12.2 0.25 -22.6 1.38 -29.9 0.94 -11.3 0.95 -25.5

-3.9 0.4 19.7 26.7 38.9

8.44 10.64 17.87 18.72 12.29

0.42 -14.9 0.01 -12.4 1.14 -23.9 1.28 -34.4 3.26 -32.1 2.48 -16.2 0.94 -26.0 0.89 -21.1 0.79 -5.3 0.07 -8.7 0.88 -15.2 0.03 -6.6 0.03 -13.2

13.4 2.2 27.8 23.3 33.9 30.4 26.7 41.2 22.4 -1.8 34.2 -0.5 -5.1

TotalReturnBond 12.42 0.03 -13.6 -7.1 PGIM Funds Cl Z: GlobalRealEstate 19.37 HighYield 4.69 JennGrowth 45.51 JennHealthSci 39.49 JennMidCapGrowth 16.90 TotalReturnBond 12.39 PIMCO Fds Admin:

0.88 -21.1 0.01 -12.3 3.68 -32.0 3.03 -16.1 1.29 -25.9 0.02 -13.1

1.2 3.0 35.1 31.6 27.9 -4.4

TotRtAd p 8.94 0.05 -12.0 -3.5 PIMCO Fds Instl: AllAsset 11.08 0.13 NA AllAssetAuth r 6.93 0.07 NA CommodtyRR 6.51 NA NA DivInc 9.24 0.04 NA EmMktsBd 8.27 -0.02 NA EmrgMktCur&STInv 7.27 NA NA ExtdDur 4.50 0.01 -29.6 GlblBdOppUSH 9.70 0.03 -6.0 HiYld 7.74 0.06 -12.3 HiYldMuniBd 8.49 0.07 -11.9 IntlBdUnhedged r 7.93 0.08 -16.6 IntlBdUSH 9.75 0.07 -8.5 InvGrdCrBd 8.88 0.01 -15.4 LgTrmCrdtBd 9.24 0.01 -24.1 LngDurTotRtrn 7.76 0.00 -22.8 LowDur 9.30 0.04 -4.5 LowDurInc r 7.96 0.02 NA LTUSG 4.14 0.01 -22.2 ModDur 9.49 0.05 -7.6 MortgOppBd 9.94 0.00 -6.4 MuniBd 9.25 0.08 -10.8 RAEFndmtlAdvPLUS 8.53 NA NA RAEPLUS r 5.79 0.20 NA RealRtnI 10.88 0.05 NA RERRStg 7.04 0.45 -20.3 ShortT 9.58 -0.02 -1.5 ShtAssetInv 9.81 0.01 -1.1 StcksPLUSIntlHdg r 7.72 0.18 NA StcksPLUSSmall 8.11 0.47 -23.6 StkPlsLgDur 4.93 0.31 -37.4 StksPLS 10.44 0.64 -19.6 StPlTRInst r 9.44 0.59 -20.3 TotRetESG 7.97 0.02 -13.2 TotRt 8.94 0.05 -11.9 TRII 8.40 0.05 -11.8 TrndsMgdFutStrgy 13.52 NA NA PIMCO Funds: IncomeFd 10.66 0.06 StcksPLUSIntlHdg 7.62 0.19

NA NA

NA NA NA NA NA NA -12.6 2.3 0.0 2.3 -12.0 -2.9 -5.7 -8.1 -5.6 -0.7 NA -9.4 -0.1 3.1 -0.4 NA NA NA 24.6 2.4 1.3 NA 14.9 23.5 35.3 34.7 -4.1 -2.8 -3.8 NA NA NA

BARRON’S

June 27, 2022

MUTUAL FUNDS

D ATA Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

TotRet 8.94 0.05 -12.2 -4.5 PIMCO Funds A: AllAsset 11.08 0.13 NA CommdtyRR 6.23 NA NA HiYld 7.74 0.06 -12.5 HiYldMuniBd 8.49 0.07 -12.0 IncomeFd 10.66 NA NA IntlBdUSH 9.75 0.07 -8.7 InvstGrCrBd 8.88 0.01 -15.6 LowDurA 9.30 0.04 -4.7 LowDurInc 7.96 0.02 NA MuniBdA 9.25 0.08 -11.0 RAEPLUS 5.29 0.18 NA RealRtnA 10.88 0.05 NA ShtTmA 9.58 -0.02 -1.6 StksPLSTR 9.14 0.57 -20.4 TotRetA 8.94 0.05 -12.1 PIMCO Funds C:

NA NA -1.1 1.4 NA -4.0 -6.8 -1.6 NA -1.3 NA NA 1.7 33.1 -3.8

IncomeFd 10.66 0.06 PIMCO Funds I2:

All Asset 11.10 0.12 CommdtyRR 6.46 NA ComPLUSStrtgyFd 8.47 NA EmgMkBd 8.27 -0.02 HiYld 7.74 0.06 HiYldMuniBd 8.49 0.07 Income 10.66 0.06 IntlBdUSH 9.75 0.07 InvstGrCrBd 8.88 0.01 LowDurInc 7.96 NA LwDur 9.30 0.04 MuniBd 9.25 0.08 RealRtn 10.88 NA ShtTm 9.58 -0.02 TotRt 8.94 0.05 PIMCO Funds Instl:

NA NA NA NA -12.4 -11.9 NA -8.5 -15.4 NA -4.6 -10.9 NA -1.5 -12.0

NA NA NA NA -0.3 2.0 NA -3.1 -6.0 NA -1.0 -0.7 NA 2.1 -3.1

ComPLUSStrtgyFd 8.58 NA NA NA DynamicBd 9.86 0.05 -6.4 0.2 GNMAGvtSec 9.92 0.04 -9.7 -2.9 IncomeFd 10.66 0.06 NA NA InflRespMulAsset 8.50 NA NA NA Pioneer Funds A: AMTFreeMuniA p p 13.03 BondA 8.53 CoreEqA 19.35 DiscGrA 13.75 EqIncA 35.98 HighIncMuniA 6.55 MdCapVa 23.07 PioFdA 31.35 SelMCGrA 36.96 StratIncA p p 9.49 Pioneer Funds Y:

0.17 -15.8 0.03 -11.5 1.09 -17.3 0.92 -20.5 1.70 -11.5 0.06 -11.5 0.90 -12.4 1.62 -17.0 2.62 -30.0 -0.01 -10.6

AMTFreeMuniY 12.98 BondY 8.45 PionFdY 31.98 StratIncY p p 9.49 Price Funds:

0.18 0.03 1.66 -0.01

-5.7 -1.0 38.9 47.2 22.1 -1.2 24.6 45.0 11.5 1.4

-15.7 -5.1 -11.3 0.2 -16.8 46.3 -10.5 2.4

2050RetFd n 15.87 0.76 -18.6 Balnanced n 23.61 0.84 -16.1 BdEnhIdx nr 9.99 0.05 -11.1 BlChip n 123.92 9.95 -30.3 Communica&Tech n 126.61 9.76 -30.7 DivGro n 63.69 3.68 -13.8 DvsfMCGr n 35.15 2.63 -25.8 EmgMktB n 8.51 -0.03 -19.5 EmMktS n 37.01 1.27 -18.3 EqInc n 33.31 1.55 -7.1 103.24 6.26 -17.4 EqIndex n Europe n 20.44 0.73 -24.4 FinSvcs n 30.61 1.37 -14.9 GlbStk n 46.65 3.00 -26.5 GlbTech n 12.85 1.47 -44.9 GMS-fd n 10.12 0.09 -11.1 Growth n 71.58 5.53 -32.7 HelSci n 86.61 7.11 -16.8 HiYield n 5.64 0.02 -12.8 InstEmMEq 35.32 1.24 -18.3 InstFLRfd r 9.19 -0.03 -3.9 InstFRF n 9.18 -0.03 -4.0 InstHiYld 7.49 0.02 -12.9 LgCapGow I 52.14 4.17 -29.1 InstLCCoreGr 49.17 3.94 -30.2 LgCpVal 25.42 1.19 -8.5 InstSmCap 25.46 1.43 -22.5 IntDis n 60.22 2.65 -28.4 IntEqIdx nr 13.46 0.44 -17.7 IntlStk n 16.65 0.74 -16.2 MCapVal n 30.82 1.02 -8.4 MCEqGr 56.71 3.43 -23.3 MD Bond n 9.95 0.08 -9.9 MidCap n 90.81 5.34 -22.6 N Asia n 17.52 0.88 -16.7 N Inc n 8.42 0.04 -11.8 NAmer n 54.06 3.33 -20.8 New Era n 38.21 -0.08 -4.6 NHoriz n 50.52 5.22 -34.2 OverS SF nr 10.92 0.30 -17.7

22.5 16.3 -2.9 18.1 23.6 35.0 20.8 -17.5 -5.3 29.7 38.9 5.3 38.5 36.9 15.2 -0.3 19.8 36.1 0.1 -5.4 6.1 5.6 0.5 31.7 18.5 29.7 23.7 16.5 7.1 7.9 35.1 17.6 -1.3 18.1 15.7 -4.9 53.1 20.6 20.7 11.5

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

QMUSSmCpGrEq n 35.01 SpectConsAllo n 18.62 SpectModerAllo n 22.55 SpectModerGwAllo n 34.87 R2005 n 12.01 R2010 n 15.30 R2015 n 12.79 R2020 n 19.21 R2025 n 16.67 R2030 n 24.76 R2035 n 18.91 R2040 n 26.82 RealEst n 16.36 Ret2025A p 16.54 Ret2045 n 18.76 Ret2045R 18.28 Ret2055 n 16.43 Ret2055 16.25 RetBal Inc n 13.34 SciTec n 31.45 Sht-Bd n 4.56 SmCap n 50.40 SmCapStk n 53.93 SpecGr n 22.42 SpecInc n 11.35 SpecIntl n 13.14 SuMuInc n 11.07 SuMuInt n 11.18 TF Incom n 10.98 TF Incom n 9.27 TFSI n 5.42 TotIndex n 42.16 U.S.EqResch n 37.28 USLrgCpCore n 30.18 USTInter n 5.36 VABond n 11.07 Value n 41.35 Price Funds - Adv Cl:

2.24 -24.5 0.39 -12.5 0.72 -15.6 1.47 -18.0 0.27 -12.3 0.37 -12.8 0.33 -13.0 0.53 -13.5 0.52 -14.6 0.89 -16.0 0.78 -17.2 1.21 -18.1 0.98 -18.6 0.51 -14.7 0.88 -18.5 0.86 -18.6 0.79 -18.5 0.78 -18.7 0.28 -11.7 2.59 -27.5 0.01 -4.0 1.87 -18.4 3.02 -22.7 1.23 -18.2 0.08 -10.4 0.47 -18.5 0.10 -10.7 0.07 -8.3 0.10 -12.0 0.07 -10.3 0.02 -4.2 2.60 -18.6 2.37 -17.6 2.06 -15.8 0.04 -9.6 0.09 -10.4 2.15 -13.5

14.2 9.3 13.1 17.0 10.4 11.7 13.2 14.9 16.9 18.4 19.9 21.2 10.8 16.0 22.4 20.6 22.3 21.4 12.2 31.0 1.4 25.7 23.6 26.4 0.8 7.1 -1.3 -1.0 -0.6 -1.1 0.3 34.9 40.1 33.4 -4.3 -1.4 33.0

BlChip p 120.90 CapAppA p 32.00 Growth p 69.40 R2020A p 19.00 R2030A p 24.45 R2035 18.76 R2040A p 26.49 Ret2045-A p 18.58 Ret2050-A p 15.66 Price Funds - R Cl:

9.70 -30.4 1.42 -12.3 5.37 -32.8 0.53 -13.6 0.88 -16.1 0.77 -17.3 1.20 -18.2 0.88 -18.5 0.75 -18.6

17.2 29.5 18.8 14.0 17.5 18.9 20.3 21.6 21.6

BlChipR p 114.62 9.20 -30.5 ExtIndex nr 27.31 1.79 -24.5 GrowthR p 66.23 5.12 -32.8 R2020R p 18.73 0.52 -13.7 R2030R p 24.15 0.88 -16.2 R2040R p 26.20 1.18 -18.3 Ret2025-R p 16.28 0.50 -14.8 Ret2035-R 18.46 0.75 -17.4 Ret2050-R 15.46 0.74 -18.8 PRIMECAP Odyssey Fds:

16.3 20.8 17.9 13.2 16.7 19.4 15.1 18.0 20.7

AggGrowth nr 40.28 3.15 -23.6 15.1 Growth nr 36.91 2.50 -16.3 28.2 Stock nr 34.80 1.86 -13.3 32.9 Principal Investors: CapApprA p 52.89 ConBalA p 11.36 DivIntlInst 11.28 EqIncIA p 35.48 FlIncA p 11.29 HighYldA p 6.40 HiYld IN 8.08 InfPro IN 8.54 LgCpStA p 20.03 LgIndxI 20.04 LgIndxJ tn 19.76 LT2020 In 12.45 LT2020J tn 12.36 LT2030In 13.55 LT2030J tn 13.49 LT2040I 14.65 LT2040J tn 14.47 LT2050I 15.15 MdGrIII Inst 10.47 MdValI In 15.68 MidCpBldA 30.47 PreSecI 8.96 PtrLGI In 15.85 PtrLV In 17.77 RealEstSecI 28.16 SAMBalA p 14.76 SAMGrA p 17.20 StrGrw A p 18.80 ProFunds Inv Class:

3.18 -17.8 0.26 -13.7 0.30 -21.4 1.79 -13.1 0.17 -12.3 0.01 -10.7 0.04 -11.8 0.05 -8.0 1.21 -17.4 1.21 -17.4 1.19 -17.5 0.29 -13.6 0.29 -13.7 0.45 -16.1 0.44 -16.2 0.64 -17.8 0.62 -17.9 0.75 -18.7 0.76 -26.3 0.62 -10.8 1.81 -24.6 0.00 -11.7 1.34 -28.7 0.87 -9.5 1.53 -18.8 0.48 -15.4 0.74 -17.1 0.95 -18.5

37.1 7.8 8.4 23.7 3.7 3.0 0.3 9.4 37.8 38.8 38.0 12.1 11.6 16.1 15.6 18.7 18.1 20.2 25.8 35.1 22.8 1.5 29.5 27.7 17.3 12.9 17.6 21.7

D ATA P R O V ID E D BY LIPP E R Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

DynAAGthA 15.89 0.62 -17.0 PutLargCap p 28.32 1.25 -8.6 PutFocIntEq p 12.94 0.45 -16.8 GeorgePutBal 20.06 0.79 -15.0 GlbHlthCare p 57.58 3.83 -9.2 GrOpp p 43.65 3.15 -25.5 HiYld A p 5.09 0.00 -12.5 Incm p 5.93 0.03 -10.5 IntlEq p 20.49 0.65 -19.1 NYTx p 7.80 0.07 -11.2 ShtDurBd 9.62 0.03 -4.4 StDurInc 9.98 -0.01 -0.5 SustainLdrsFd p 95.57 5.92 -22.8 TFHY 11.20 0.13 -12.8 TxEx p 7.63 0.06 -11.2 MtgSec p 10.34 0.09 -7.5 Putnam Funds Class Y: GrOpp Y Incm PutLargCap ShtDurBd StDurInc

46.41 6.06 28.32 9.64 9.99

7.14 0.06 -11.4 -2.3 5.85 0.01 -2.9 -5.3 14.14 0.43 -15.4 12.8

SoundShoreInv n 36.50 1.68 -10.9 26.8 Sprott Funds Trust: GoldEq Inv p/r tn 42.70 -0.98 -11.7 16.7 SSgA Funds: 223.27 12.72 -17.4 39.4 SP500 n State Street Institu: SmCapEq (ICL) 16.26 0.87 -18.9 24.2 State Street V.I.S.: TR V.I.S. Cl 1 13.61 0.39 -15.3 TR V.I.S. Cl 3 13.54 0.39 -15.4 Sterling Capital Fds: TotRetBdI

7.0 6.1

9.53 0.05 -11.3 -1.9

T TCU ShtDur :

CoreFxInc n 10.13 0.07 -11.6 -2.6 EmMktInc n 6.24 0.00 -17.5 -14.6 SelEqtyI n 27.76 2.22 -29.7 32.1 TotRetBondI n 8.74 0.06 -12.7 -4.7 TCW Funds N:

BPSmVal2Inst 26.75 1.10 -12.4 26.3 RBC Funds:

9.29 0.03 -4.3 -0.5

AccCpCommInvI 7.97 RiverNorth Funds:

RNDLIncomeI Royce Funds:

9.11

TotRetBdN pn 9.01 0.06 -12.8 -5.3 The Bruce Fund:

13.49 7.75 10.60 16.78 7.68

0.47 0.39 0.57 0.51 0.32

-19.5 -19.7 -18.3 -12.1 -12.1

53.8 23.4 19.5 26.7 25.4

BruceFund n 595.02 32.07 -11.2 27.2 Third Avenue:

Oppty I nr PAMut I nr PremierI nr SpecEqI nr TotRet I nr RS Funds:

CoreEqVIP 51.22 2.32 -5.7 28.4 Russell Funds S: EmerMkts 15.44 IntlDvMkt 35.65 InvGrdBd 18.98 RESec 30.09 StratBd 9.55 TaxExBd 21.68 TMUSMdSmCp 33.09 TxMngUSLgCp 57.45 USSmCpEq 24.72 Rydex Investor Class: NasdaqInv n

0.14 0.78 NA 1.32 NA 0.14 1.70 3.38 1.35

NA NA NA NA NA NA NA NA NA

55.69 3.86 -26.1 54.2

S Schwab Funds: 1000 Inv nr 84.46 Balanced n 15.49 CoreEq n 19.98 DivEqSel n 13.83 FunIntlLgInst nr 8.99 FunUSLgInst nr 20.60 HlthCare n 25.86 InflProSel n 11.43 IntI Sel nr 19.49 IntlMstr nr 18.56 MT AllEq n 19.00 MT Bal n 17.58 MT Gro n 22.38 S&P Sel n 60.31 SmCp Sel nr 28.42 SmCpEqSel nr 17.95 Trgt2030 nr 14.68 Trgt2040 nr 15.57 TSM Sel nr 66.99 TxFrBd n 10.92 USSmCoIdx nr 14.71 Segall Bryant & Hami:

5.24 NA 1.24 0.71 0.13 0.96 1.86 0.06 0.64 0.60 NA NA NA 3.66 1.61 0.89 NA NA 4.09 0.07 0.68

NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA

SmallCapVal Inst 12.50 0.54 -15.8 14.6 SEI Portfolios:

CATx p DvrIn p DynAABalA

9.43 0.06 -11.2 -3.7

SmeadValueInstl 61.70 2.37 -10.9 42.5 SoundShoreInv n:

RBB Fund:

AmShD n AmShS pn Sequoia:

MinnTxF n SmeadFds:

132.26 8.88 -26.3 22.7

TCU ShtDur TCW Funds:

GrOpp R6 46.87 3.38 -25.4 38.8 Putnam Funds Class A:

3.35 -25.4 38.3 0.03 -10.4 -3.8 1.25 -8.5 38.5 0.03 -4.1 1.0 -0.01 -0.5 2.3

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

SequoiaFd n Sit Funds:

CoreFxIn F 9.88 8.00 EMktDbt F HiYld F 6.05 IntlEmg F 10.63 IntlEq F 9.86 IntlFxIn F 9.27 IntMuni F 10.96 LgCapGr F 37.93 LgCVal F 25.29 MgdVol F 16.42 S&P500 F 78.90 ShtGov F 9.98 TaxMgdLC F 31.10 TaxMgdSmMdCp F 22.16 Selected Funds:

UltNASDAQ-100 n 48.47 Putnam Funds:

17.4 37.5 9.6 20.7 45.8 37.3 0.6 -4.7 6.1 -3.1 0.1 2.0 32.8 -1.5 -2.7 -7.1

0.07 -12.6 0.04 -17.6 0.01 -11.1 0.14 -17.6 0.26 -18.8 0.00 -8.4 0.07 -8.8 2.65 -24.8 1.14 -9.0 0.84 -4.7 4.78 -17.4 0.02 -3.4 1.71 -15.7 0.98 -18.2

-3.7 -16.0 6.3 2.9 7.6 -6.7 -0.9 38.2 23.4 20.2 38.6 -0.3 33.8 19.7

34.27 1.73 -19.3 20.5 34.13 1.72 -19.4 19.4

ValueInst 52.40 -0.92 Thompson IM Fds,Inc:

3.5 42.6

Bond n 10.19 -0.09 -6.1 -0.1 Thornburg Fds: IncBuildA t 21.63 IncBuildC p 21.61 IntVal I 21.65 LtdTIn 12.70 LtdTIncI 12.70 LtdTMu I 13.58 LtdTMuA 13.58 Thrivent Funds A:

0.39 0.40 0.60 0.04 0.03 0.04 0.05

-9.5 -9.8 -19.9 -6.7 -6.6 -5.3 -5.4

15.9 13.3 13.6 0.6 1.5 -1.0 -1.7

DivrIncPlus 6.74 LgCpStk 23.23 MidCapStk 25.82 MuniBd 10.19 SmCapStk p 21.06 Thrivent Funds S:

0.10 -11.6 1.16 -18.9 1.44 -20.3 0.08 -10.8 0.91 -13.8

4.1 19.3 34.2 -2.6 42.4

LgCpVal n 25.67 1.07 -9.5 35.9 MidCapStk n 30.35 1.70 -20.2 35.2 OppIncmPl n 8.93 0.03 -10.2 -2.9 TIAA-CREF/Instl Cl: CoreBond Inst 9.31 0.04 -11.6 -3.0 CorePlsBd 9.32 0.03 -11.8 -2.3 TIAA-CREF/Retail Cl: EqIdx n 28.45 Gro&Inc n 20.60 LrgCpGro n 17.28 MgdAlloc n 11.17 RESec n 18.40 SocChEq n 20.02 TIAA/CREF Funds:

1.74 -18.4 1.20 -20.5 1.23 -27.8 0.33 -16.7 1.10 -21.6 1.19 -19.0

35.9 29.1 29.5 12.0 17.7 36.2

BdIdxInst 9.82 EqIdxInst 27.93 EqIdxRet 28.35 Gr&IncInst 13.65 HgYldInst 8.27 InflLkdBdInst 11.24 IntlEqIdxInst 18.87 IntlEqIdxRet 19.32 IntlEqInst 11.22 LC2020Ret 12.26 LC2025Ret 12.88 LC2030Ret 13.34 LC2035Ret 13.91 LC2040Inst 9.59 LC2040Ret 14.37 LC2045Ret 11.78 LCIdx2010Inst 15.70 LCIdx2020Inst 17.71 LCIdx2025Inst 19.27 LCIdx2035Inst 22.21 LCIdx2040Inst 23.35 LCIdx2045Inst 24.08 LifeStkIdx 33.51 LrgCpGrIdxInst 43.50 LrgCpGrIdxRet 43.81 LrgCpGrInst 17.38 LrgCpVl IdxInst 21.94 LrgCpVl IdxRet 22.35 LrgCpVl Inst 18.96 LrgCpVlRet 18.87 MdCpGrInst 16.88

0.05 -11.0 1.71 -18.3 1.74 -18.4 0.80 -20.4 0.04 -11.6 0.07 -4.2 0.61 -17.5 0.63 -17.6 0.30 -20.6 0.27 -13.4 0.32 -14.2 0.39 -15.3 0.46 -16.3 0.35 -17.1 0.53 -17.2 0.48 -17.9 0.35 -12.1 0.47 -13.4 0.57 -14.1 0.81 -15.8 0.94 -16.4 1.05 -17.0 2.05 -18.3 3.19 -24.8 3.21 -24.9 1.24 -27.7 1.10 -10.7 1.12 -10.8 0.85 -12.7 0.84 -12.8 1.22 -31.5

-3.8 37.0 36.0 30.2 -1.3 10.6 6.3 5.5 11.5 11.0 12.8 14.5 16.3 19.2 18.2 20.4 10.7 12.9 14.9 18.7 20.9 23.3 36.9 48.3 47.2 30.6 25.6 24.7 26.9 25.9 6.5

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

MdCpVl Inst 16.57 MdCpVlRet 16.41 QuantSmCpEqInst 15.39 RealSecInst 18.56 RealSecRet 19.46 S&P500IdxInst 43.08 S&P500IdxRet 42.73 ShTrmBdInst 9.95 SmCpBl IdxInst 20.29 SmCpBl IdxRet 20.38 SocChEqInst 23.03 SocChEqRet 23.43 Tortoise Capital:

0.84 -14.3 0.82 -14.5 0.74 -19.3 1.11 -21.6 1.17 -21.6 2.61 -17.3 2.59 -17.4 0.02 -3.1 1.15 -20.9 1.16 -20.9 1.38 -18.9 1.39 -19.0

MLP&EgyInc Inst 6.75 0.02 TorMLPPipInsCl 11.89 0.11 Touchstone Family Fd: FlexIncY 10.13 FocEqY 53.13 LagCapFoc A p 48.89 MdCpGrwY 29.84 MdCpVal Inst 21.46 MdCpY 42.27 SandsCapGrY 10.79 SmCoA p 4.68 Tr for Credit Unions:

17.9 17.0 22.2 18.7 17.8 39.5 38.4 1.8 20.1 19.3 37.3 36.2

6.8 14.7 8.2 6.4

0.05 -8.3 2.97 -17.4 2.82 -16.8 2.00 -25.3 1.02 -11.3 2.25 -14.8 1.21 -43.6 0.24 -19.3

4.5 44.7 42.6 23.8 33.0 24.5 3.8 26.1

UltShtDur TCU 9.33 0.01 -0.7 Transamerica A:

1.9

AsAlCnsrv p 9.65 0.19 NA NA AsAIGrow p 12.41 0.60 NA NA AsAlMod p 10.37 0.27 NA NA AsAlModGr p 11.17 0.39 NA NA Balanced 29.41 1.09 -14.8 23.2 Trust for Professional Ma: PerfTrstMuniInst 22.65 0.18 -11.7 -1.7 PrfTrtStrtBd Ins 19.97 0.11 -10.8 -2.4 Tweedy Browne Fds: GblValue n 26.40 0.71 -9.2 6.0 GblVlCurUnhgd nr 15.01 0.38 -11.8 -0.5 U Ultimus: LyricalUSVlEqI 18.94 0.83 -17.7 30.5 UM Funds: BehavVal BehavValA t USAA Group:

78.13 3.51 -6.2 42.2 75.88 3.40 -6.4 40.5

500Indx Reward n 50.63 2.97 -18.2 10.21 0.07 -10.9 CA Bd n CapGr n 10.84 0.50 -15.6 CrnrsMod n 14.25 0.29 -12.7 CrnstModAggr n 24.59 0.65 -13.2 ExtMktIn n 19.06 1.11 -23.0 Gr&Inc n 21.04 1.24 -17.2 Gr&TxStr n 22.51 0.65 -15.1 Grwth n 26.23 1.99 -27.7 HiIncm n 6.69 0.00 -12.4 Inco n 11.53 0.01 -11.8 IncStk n 18.01 0.79 -8.8 Intl n 22.30 0.58 -19.2 IntmTerm n 12.47 0.06 -8.8 LgTerm n 12.08 0.10 -11.9 Nasdaq100 n 32.08 2.23 -25.7 ntTerBd n 9.30 0.03 -11.1 PrecMM n 16.79 -0.47 -10.1 S&PIdx n 50.60 2.98 -18.2 SciTech n 19.04 1.64 -36.1 ShtT n 10.06 0.02 -4.7 ShtTBdA n 8.78 0.02 -3.7 SmCpStk n 11.80 0.65 -21.3 TarRet2030 n 11.76 0.32 -13.3 TarRet2040 n 11.85 0.41 -15.2 TarRet2050 n 12.17 0.48 -16.1 TarRetIncm n 10.45 0.16 -10.2 VA Bd n 10.40 0.09 -9.7 ValueFd n 17.14 0.81 -7.8 WldGr n 22.21 0.94 -19.9

40.4 -2.0 22.0 9.0 11.2 27.4 26.2 14.8 21.3 -1.0 -1.1 24.4 1.9 -0.4 -1.8 58.8 1.1 16.7 40.0 8.3 -0.2 3.5 26.5 11.7 13.7 15.8 7.6 -2.2 24.9 19.5

V VALIC: CoreVal FrgnVal GlobEq SysCore InflPro IntlEq LgCpGro MdCpStGr MidCpIdx SciTech SmCpIdx StckIdx ValUltra VanEck Funds:

12.35 9.25 6.71 24.22 10.72 6.76 17.83 16.91 24.50 22.18 16.50 44.99 14.01

0.55 -8.1 0.19 -13.2 0.00 -20.0 1.44 -18.0 0.08 -8.4 0.23 -17.7 1.19 -17.1 1.01 -25.2 1.19 -17.4 1.60 -30.2 0.93 -21.0 2.73 -17.4 1.05 -28.8

24.1 2.9 1.0 41.5 7.0 4.6 43.8 27.1 26.4 34.5 18.5 38.4 33.0

EmgMktsY 12.59 0.22 -27.6 -19.7 VANGUARD ADMIRAL:

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

400MCpIdxInst314.14 14.25 -17.3 500Adml n 362.39 21.99 -17.3 BalAdml n 40.87 1.41 -15.6 CAITAdml n 11.08 0.06 -8.2 CALTAdml n 11.06 0.09 -11.7 CapOpAdml nr 161.62 11.08 -16.5 CoDilxAd n 126.16 9.21 -28.2 CoStIxAd nr 92.36 5.06 -5.3 DivAppIdxAdm n 39.73 2.29 -14.0 EMAdmr n 34.99 0.78 -13.8 EnergyAd nr 49.77 -1.41 30.7 EnergyAdml nr 78.33 1.27 8.2 EqIncAdml n 85.56 4.00 -5.9 EuropeAdml n 67.49 2.15 -19.4 ExplrAdml n 91.27 5.59 -23.3 ExtndAdml n 103.96 6.41 -24.8 FinIxdAd nr 39.81 1.80 -16.9 GNMAAdml n 9.54 0.07 -8.8 GroIncAdml n 86.42 4.89 -16.5 GrwthAdml n 120.89 8.96 -26.6 HltClxAd nr 119.12 8.91 -10.0 HlthCareAdml nr 85.18 6.59 -7.9 HYCorAdml nr 5.18 0.03 -11.0 InfProAd n 26.01 0.15 -7.5 InfTechIdx n 176.10 12.31 -24.6 IntlGrAdml n 99.15 5.85 -28.8 ITBondAdml n 10.46 0.08 -11.1 ITCorpIx n 21.54 0.12 -13.1 ITIGradeAdml n 8.55 0.05 -12.9 ITsryAdml n 10.34 0.08 -7.9 ITTresIdx n 20.48 0.17 -8.4 LarCapAd n 90.08 5.29 -18.5 LTGradeAdml n 8.37 0.02 -22.0 LTsryAdml n 9.80 0.02 -22.5 LTTresIdx n 23.14 0.08 -22.4 MatIdx nr 84.66 1.71 -14.8 MidCpAdml n 251.64 14.48 -19.7 MrgBkdIdx n 18.94 0.17 -9.7 MuHYAdml n 10.42 0.09 -11.9 MuIntAdml n 13.38 0.08 -8.0 MuLTAdml n 10.63 0.09 -11.2 MuLtdAdml n 10.70 0.03 -3.6 MuShtAdml n 15.60 0.02 -1.4 NJLTAdml n 11.09 0.10 -11.2 NYLTAdml n 10.58 0.11 -11.6 PacifAdml n 79.15 1.71 -17.4 PALTAdml n 10.65 0.09 -10.7 PrmcpAdml nr 144.94 8.93 -14.5 RealEstatAdml n 131.98 7.67 -18.7 S&PSC600Idx 349.43 17.39 -17.3 SmCapAdml n 87.34 4.69 -18.9 SmGthAdml n 72.67 5.34 -26.5 STBondAdml n 10.04 0.05 -4.7 STCorpIx n 20.71 0.07 -5.8 STFedAdml n 10.32 0.04 -3.9 STIGradeAdml n 10.07 0.04 -5.7 STIPSIxAdm n 25.26 0.10 -0.9 STsryAdml n 10.21 0.04 -3.3 STTresIdx n 19.59 0.06 -3.2 TotBdAdml n 9.85 0.05 -11.0 TotIntBdIdxAdm n 19.74 0.18 -10.2 TotIntlAdmIdx nr 28.08 0.72 -16.8 TotStAdml n 94.97 5.49 -18.6 TxMBal nr 36.81 1.22 -12.9 TxMCapAdml n 202.17 12.40 -18.2 TxMIn nr 13.31 0.36 -17.8 TxMSC nr 76.83 3.58 -17.2 USGroAdml n 111.13 9.51 -34.0 UtilIxAd nr 75.34 4.38 -2.6 ValAdml n 52.16 2.22 -8.0 WdsrllAdml n 69.28 3.42 -14.7 WellsIAdml n 62.38 1.30 -9.8 WelltnAdml n 70.59 2.91 -14.9 WndsrAdml n 75.39 3.54 -6.8 VANGUARD FDS:

27.5 39.5 20.5 -1.0 -2.3 40.0 42.1 34.2 33.6 7.8 35.2 -3.5 32.4 7.7 28.1 21.7 25.5 -4.3 40.5 46.1 42.3 38.6 1.6 10.5 67.4 25.9 -2.5 -2.7 -2.4 -1.3 -2.7 38.6 -6.5 -9.3 -10.1 39.3 27.9 -5.5 -0.5 0.0 -0.8 1.4 1.7 0.0 -2.0 5.1 -0.5 38.5 15.7 29.9 23.5 14.2 0.0 0.6 1.1 0.6 11.0 0.8 0.1 -3.3 -6.6 8.2 36.6 18.4 38.8 8.6 30.2 27.6 21.3 30.5 40.4 11.8 21.5 46.7

CAIT n 11.08 0.06 -8.2 CALT n 11.06 0.09 -11.7 CapOp nr 70.01 4.80 -16.5 DivdGro n 34.50 1.95 -9.3 DivrEq n 41.52 2.64 -21.1 EmgMktSelStk n 20.36 0.40 -16.6 Energy nr 41.74 0.67 8.2 EqInc n 40.83 1.91 -6.0 Explr n 98.11 6.00 -23.4 EXPValFd n 39.03 1.55 -15.6 FTAlWldInAdml n 31.45 0.86 -16.4 GlbCapCyl Inv nr 10.88 0.08 -1.5 GlbEq n 30.48 1.64 -20.8 GloMinVolFdAdm n 27.45 1.22 -7.1 GNMA n 9.54 0.07 -8.8 GroInc n 52.96 3.00 -16.5 HlthCare nr 202.00 15.62 -7.9 HYCor nr 5.18 0.03 -11.0 InflaPro n 13.25 0.08 -7.5 IntlExplr n 15.17 0.47 -28.7 IntlGr n 31.17 1.84 -28.9 IntlVal n 35.59 0.90 -14.4 ITIGrade n 8.55 0.05 -13.0 ITTsry n 10.34 0.08 -7.9 LifeCon n 19.88 0.46 -13.6

-1.3 -2.5 39.7 36.7 36.6 2.8 -3.7 32.0 27.7 23.8 8.3 46.9 20.1 6.6 -4.6 40.0 38.3 1.3 10.2 -1.1 25.5 8.5 -2.7 -1.6 7.5

B A R R O N S .C O M / D ATA Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

Net YTD 3-Yr. NAV Chg. % Ret. % Ret.

LifeGro n 37.09 1.45 -16.5 LifeInc n 14.86 0.21 -12.1 LifeMod n 28.49 0.88 -15.1 LTIGrade n 8.37 0.02 -22.0 LTTsry n 9.80 0.02 -22.5 MATxEx n 9.95 0.08 -11.4 MgdPayFdInv n 16.45 0.41 -9.8 MidCpGro pn 19.34 1.59 -28.3 MuHY n 10.42 0.09 -11.9 MuInt n 13.38 0.08 -8.0 MuLong n 10.63 0.09 -11.2 MuLtd n 10.70 0.03 -3.6 MuSht n 15.60 0.02 -1.4 OHLTte n 11.45 0.09 -11.6 139.86 8.61 -14.5 Primcp nr PrmcpCor n 29.09 1.63 -13.5 SelValu nr 26.90 1.18 -12.2 STAR n 26.51 0.97 -17.0 STFed n 10.32 0.04 -4.0 STIGrade n 10.07 0.04 -5.8 StratgcEq n 32.41 1.43 -16.4 StrSmCpEqInv n 32.35 1.44 -17.2 STTsry n 10.21 0.04 -3.3 TgtRe2015 n 12.95 0.24 -11.4 TgtRe2020 n 27.00 0.65 -13.0 TgtRe2025 n 17.38 0.51 -14.6 TgtRe2030 n 32.51 1.07 -15.4 TgtRe2035 n 20.05 0.72 -15.9 TgtRe2040 n 35.13 1.37 -16.4 TgtRe2045 n 23.57 0.99 -16.9 TgtRe2050 n 38.87 1.69 -17.1 TgtRe2060 n 39.81 1.73 -17.1 TgtRet2055 n 43.27 1.88 -17.1 TgtRetInc n 12.80 0.23 -11.3 TotIntBdIxInv 9.88 0.09 -10.1 USGro n 42.88 3.67 -34.1 WellsI n 25.76 0.54 -9.8 Welltn n 40.88 1.68 -15.0 Wndsr n 22.36 1.04 -6.9 WndsrII n 39.06 1.93 -14.7 VANGUARD INDEX FDS:

18.9 1.4 13.1 -6.8 -9.6 -1.3 15.9 9.4 -0.8 -0.2 -1.0 1.2 1.5 -1.0 38.2 35.7 32.5 19.3 0.8 0.3 31.4 33.1 0.5 8.4 11.7 13.3 15.2 17.4 19.6 21.8 21.9 21.9 21.9 7.1 -6.7 27.2 11.6 21.2 46.2 40.0

TotBdInst2 9.73 TotBdInstPl 9.85 TotIntBdIdxInst 29.62 TotStInst 94.99 TtlWrldIxInst p 178.71 TxMCaInst r 100.45 TxMSCInst r 77.00 ValueInst 52.16 Victory Funds:

0.05 0.05 0.26 5.49 8.44 6.16 3.58 2.22

-11.0 -11.0 -10.2 -18.6 -17.8 -18.2 -17.1 -8.0

-3.5 -3.2 -6.5 36.7 24.0 38.9 30.3 30.6

EstValA EstValI EstValR p LgCpAlphaA SmCoOppI Virtus Funds:

44.85 44.88 44.10 51.93 45.75

1.64 1.61 1.64 2.34 2.00

-9.0 -8.9 -9.1 -5.9 -12.9

40.5 41.8 39.6 26.7 27.6

virtus VirtusFunds:

7.14

CeredexMdCpVlEqI 10.35 -0.06 NA GvSecUltShtBdI 9.85 0.01 -1.3 LowDurCrPlBd I 10.25 0.02 NA VirtusFunds Cl A:

NA 0.9 NA

500 362.35 21.98 -17.4 EmgMktInstPl 88.51 1.98 -13.8 ExtndIstPl 256.54 15.81 -24.8 FTAIWdInPl 105.56 2.86 -16.4 Growth 120.94 9.00 -26.7 IdxIntl 16.79 0.44 -16.9 ITTresIdx Inst 25.41 0.21 -8.4 LTTresIdx Inst 29.37 0.11 -22.4 MdCpGrAdml n 78.99 5.82 -27.7 MdCpVlAdml n 68.33 2.90 -11.4 MidCp 55.48 3.21 -19.8 RUSS2000IdxInst271.30 15.39 -20.9 SmCap 87.33 4.71 -19.0 SmValAdml n 66.02 2.64 -13.3 TotBd 9.85 0.05 -11.0 TotBd2 9.73 0.05 -11.0 TotIntlInstIdx r 112.28 2.89 -16.8 TotItlInstPlId r 112.31 2.90 -16.8 TotSt 94.96 5.52 -18.7 VANGUARD INSTL FDS:

39.1 8.1 21.8 8.4 45.6 8.1 -2.7 -10.0 25.7 27.9 27.5 20.0 23.0 27.5 -3.6 -3.7 8.3 8.4 36.2

WXYZ

BalInst 40.88 1.42 -15.5 DevMktsIndInst 13.33 0.36 -17.8 DevMktsInxInst20.83 0.56 -17.8 EmMkInst r 26.61 0.60 -13.8 EuroInst 28.78 0.92 -19.4 ExDurTrsInst 29.38 0.00 -29.9 103.95 6.41 -24.8 ExtndInst FTAlWldIst r 99.68 2.70 -16.4 FTScinst 26.28 1.79 -21.0 GrwthInst 120.89 8.95 -26.6 InPrSeIn 10.60 0.06 -7.5 InstIdx 331.21 18.80 -17.3 InstPlus 331.20 18.79 -17.3 InstTStIdx 69.12 3.99 -18.6 InstTStPlus 69.10 3.99 -18.6 ITBdInst 10.45 0.07 -11.2 ITBdInstPI 10.45 0.07 -11.2 370.75 21.76 -18.5 LaCapInst LTBdInst 11.96 0.03 -22.4 LTBdInstPl 11.96 0.03 -22.4 MidCpInst 55.59 3.20 -19.7 274.15 15.77 -19.7 MidCpIstPl RealEstaInstl 20.43 1.19 -18.7 Rs1000GrwIdxInst453.46 33.34 -24.8 Rs1000Vl IdxInst255.67 12.88 -10.8 Russ1000IdxInst345.70 21.32 -18.2 Russ3000Idx 339.90 20.87 -18.4 SmCapInst 87.34 4.69 -18.9 SmCapIstPl 252.10 13.53 -18.9 SmGthInst 58.20 4.28 -26.5 SmValInst 36.90 1.47 -13.3 STBdIdxInstPl 10.04 0.05 -4.7 STBDInst 10.04 0.05 -4.7 STCorpIxInst p 25.36 0.09 -5.8 STIGradeInst 10.07 0.04 -5.7 STIPSIxins 25.28 0.10 -0.9 STTresIdx 24.62 0.08 -3.2 TotBdInst 9.85 0.05 -11.0

20.5 8.8 8.8 8.0 7.7 -14.6 21.8 8.3 39.4 46.2 10.6 39.5 39.6 36.7 36.7 -2.5 -2.5 38.7 -7.1 -7.0 28.0 28.0 15.8 48.3 25.5 38.3 36.9 23.5 23.6 14.3 27.5 0.1 0.1 0.7 0.7 11.1 0.2 -3.2

MulSStA p 4.40 0.01 -5.8 0.2 SmCapSusA 35.69 2.57 -24.2 19.7 StratGrA p 18.13 1.40 -33.9 18.8 TactAllA p 9.39 NA NA NA VirtusFunds Cl I: EmMktI ForOppI IntSmCapI MulSStI QualitySmCapI SmCapSusI SmCpCorI Vivaldi Merger:

8.28 22.54 15.25 4.41 21.97 37.03 41.70

0.19 1.31 0.56 0.01 1.26 2.67 2.45

NA NA -33.1 -5.5 -23.5 -24.1 -14.9

NA NA -1.7 1.0 29.7 20.6 35.2

Arbitrage Fund 10.51 0.04 -0.3 12.2 Voya Fds: GrOppI InmdBdI TRPGrEqI

43.07 3.26 -25.7 28.7 8.91 0.04 -12.0 -3.1 79.49 6.32 -33.2 18.6

Wasatch: CoreGr n MicCap n SmCapGr n SmCapV n UltraGr n WCM:

67.95 6.23 33.00 8.17 29.41

4.74 -27.8 0.42 -33.7 2.86 -34.0 0.36 -22.4 2.83 -33.4

30.8 30.9 21.1 18.4 36.2

FcusEmgMk Inst 13.51 0.59 -27.6 9.3 FocInterGrFdInv 19.18 1.22 -30.1 17.6 IntlSmCpGrthFd I 17.43 0.74 -38.8 27.0 WCM Focus Funds: WCMFocIntlGrwIns 19.37 1.22 -30.0 18.4 Weitz Funds: PIIIOpp 13.09 0.67 -15.7 14.8 ShtDurIncInst 11.78 0.03 -3.1 2.5 ValueInv n 49.64 3.26 -19.6 30.8 Western Asset: CoreBondA 11.11 0.08 CoreBondI 11.11 0.08 CoreBondIS 11.12 0.08 CorePlusBdA 9.85 0.12 CorePlusBdI 9.86 0.12 CorePlusBdIS 9.85 0.11 IntermedBdIS 9.78 0.05 IntermTermMuniA 5.99 0.03 IntermTermMuniI 5.99 0.03 ManagedMuniA 14.90 0.10 ManagedMuniI 14.92 0.10 MortgBackSecA 8.96 0.05 SMAShCrPlCp n 6.53 0.16 SmashSerC n 8.68 -0.01 SmashSerM n 8.70 0.15 TotalRetUnconI 8.97 0.06 Westwood Income Oppo:

-14.3 -14.2 -14.2 -16.3 -16.2 -16.3 -9.8 -7.8 -7.8 -9.9 -9.8 -9.5 -26.1 -7.6 -17.4 -11.6

-6.3 -5.2 -5.2 -7.4 -6.5 -6.4 -2.5 -0.2 0.5 -0.9 -0.4 -5.1 -19.1 2.0 -8.2 -5.4

WwIncOpFdInstl 10.99 0.24 -13.5 Westwood Quality Sma:

9.9

WwQalSmallCapI 17.77 0.68 -17.6 15.8 Williamsburg Invst T: DavPrtSmCapFoFd n 14.75 0.64 -17.4 42.0 Wilmington Funds: BroadMktBdInst 8.89 Intl Inst 7.99 LgCpStrInst 26.28 RealAsset Inst 15.32 Wm Blair Funds Cl I:

0.04 -10.4 -2.6 0.22 -20.8 2.3 1.61 -18.1 38.0 0.04 NA NA

IntlGthI r 27.24 0.99 -29.6 10.8 SmCapValI 29.11 1.08 -13.3 27.8 SmMidI r 26.02 1.83 -25.1 14.8 Wm Blair Funds Inst: IntlGth 13.39 0.48 -29.6 11.6 Wm Blair Funds R6: EmgMktGth 11.75 0.07 -26.7 18.4 361 Global Long/Shor: Equity Fund

11.66 0.05 -8.0

6.9

June 27, 2022

BARRON’S

MARKET LABORATORY

D ATA

B A R R O N S .C O M / D ATA

DJ Half-Hourly Averages

The Dow Jones Averages

Daily

Industrials

37800

Components

Week's Change

3M American Express Amgen Apple Boeing Caterpillar Chevron Cisco Systems Coca-Cola Disney Dow Goldman Sachs Home Depot Honeywell Intl IBM Intel Johnson & Johnson JPMorgan Chase McDonald's Merck Microsoft Nike Cl B Procter & Gamble Salesforce Travelers Cos UnitedHealth Group Verizon Communications Visa Cl A Walgreens Boots Alliance Walmart

4.49 1.97 10.65 10.10 4.73 -7.15 -3.61 0.71 3.61 3.44 -1.63 22.96 12.27 0.32 7.04 1.64 12.83 4.29 13.52 8.51 20.05 5.57 11.99 22.66 4.84 43.58 1.93 15.50 2.33 5.43

36600

35400

34200

Components

Alaska Air Group American Airlines Group Avis Budget Group CH Robinson Worldwide CSX Delta Air Expeditors Intl of Wash FedEx JB Hunt Transport JetBlue Airways Kirby Corp Landstar System Matson Norfolk Southern Old Dominion Freight Line Ryder System Southwest Airlines Union Pacific United Airlines United Parcel Service B

1.50 0.96 3.00 4.86 0.64 0.94 6.27 13.34 7.27 0.08 3.55 9.51 -0.08 8.96 25.62 -1.22 2.10 9.33 2.23 12.23

33000

31800

30600

29400 January

February

March

April

May

June

16950 16520 16090 15660 15230 14800 14370 13940 13510 13080 12650 January

February

March

April

May

June

Utilities

1110

Components

Week's Change

AES American Elec Power American Water Works Atmos Energy Consolidated Edison Dominion Energy Duke Energy Edison Intl Exelon FirstEnergy NextEra Energy Public Service Enterprise Sempra Southern Xcel Energy

2.17 5.19 16.50 5.73 6.05 4.73 6.71 3.87 2.38 1.38 7.21 3.35 9.95 4.44 4.65

Open (t) Open (a) 10:00 10:30 11:00 11:30 12:00 12:30 1:00 1:30 2:00 2:30 3:00 3:30 Close High (t) Low (t) High (a) Low (a) Change

Jun 20

… … … … … … … … … … … … … … … … … … … …

Market Advance/Decline Volumes

30329.24 30074.69 30428.15 30432.37 30489.16 30432.71 30386.92 30430.73 30491.24 30496.02 30463.13 30517.70 30623.74 30602.33 30530.25 30835.77 30024.84 30653.98 30074.69 +641.47

30168.88 30352.57 30341.94 30603.75 30598.72 30620.65 30488.85 30541.82 30587.64 30660.65 30670.18 30679.43 30666.19 30566.87 30483.13 30854.45 30028.43 30777.92 30166.01 –47.12

30593.72 30570.33 30681.44 30588.05 30656.73 30563.39 30424.05 30381.55 30330.88 30373.01 30408.06 30449.77 30515.97 30575.53 30677.36 30964.82 30140.74 30715.63 30293.40 +194.23

30929.98 30846.94 31090.53 31264.28 31304.69 31336.47 31324.54 31307.25 31332.49 31337.82 31321.16 31332.10 31380.45 31397.77 31500.68 31614.60 30717.43 31517.29 30846.94 +823.32

1060

1010

960

910

January

February

March

April

May

June

Note: Theoretical highs and lows are shown. A red chart indicates a lower price than the starting period. Green means it's higher than the starting period.

860

... 1,014,188 488,497 562,485 2,425,680 ... 239,850 709,762 524,923 718,902 ... 4,224,193 2,049,720 2,486,696 6,816,593 ... 1,040,259 2,943,104 2,563,472 1,416,139 ... 19,274 5,172 5,664 54,536 ... 5,253 16,986 9,596 82,425 ... 3,765,695 2,790,605 3,730,237 5,841,079 ... 1,376,287 2,378,164 1,456,719 3,568,701 ... 243,459 97,796 188,655 292,005 ... 72,188 218,960 154,212 44,041 +1.35 –.51 +.31 +2.20 +1.37 –.96 –.57 +2.11 +1.73 +.11 +1.39 +1.34

Market Advance/Decline Totals Weekly Comp.

Total Issues Advances Declines Unchanged New Highs New Lows

Daily

13162.04 13065.14 13371.81 13596.18 13571.71 13572.92 13588.60 13551.12 13543.74 13548.45 13533.47 13499.17 13506.99 13521.04 13548.30 13704.32 13144.82 13632.28 13065.14 +516.09

Theoretical (t): High 13704.32 Low 12759.60 Actual (a): High 13632.28 Low 12812.34

917.38 916.08 926.76 925.92 925.30 929.26 924.60 924.53 926.25 929.05 928.55 931.61 932.73 931.68 935.74 937.60 915.92 937.10 916.08 +23.36

939.94 939.52 943.40 944.49 944.28 945.68 948.51 951.05 950.28 949.41 952.27 952.43 951.57 953.74 953.63 956.24 936.80 955.29 938.29 +17.89

Dow Jones 65 Composite (divisor: 0.77130165331605) Open (t) … 10218.08 10155.40 10288.52 Open (a) … 10151.23 10209.42 10274.58 10:00 … 10242.62 10205.59 10318.02 10:30 … 10246.14 10287.49 10285.61 11:00 … 10262.01 10275.59 10312.61 11:30 … 10241.72 10284.91 10294.71 12:00 … 10234.34 10246.21 10251.32 12:30 … 10248.75 10267.46 10242.40 1:00 … 10269.62 10285.58 10226.36 1:30 … 10263.08 10303.20 10243.80 2:00 … 10254.14 10305.45 10263.17 2:30 … 10274.81 10300.28 10274.03 3:00 … 10297.27 10301.41 10296.87 3:30 … 10295.42 10269.47 10319.82 Close … 10273.26 10246.42 10348.25 High (t) … 10383.53 10373.01 10428.53 Low (t) … 10108.68 10101.24 10152.04 High (a) … 10305.81 10333.23 10358.43 Low (a) … 10151.23 10161.20 10211.49 Change … +194.45 –26.84 +101.83

10432.42 10394.85 10545.76 10594.72 10605.41 10613.42 10612.02 10604.72 10606.14 10605.07 10606.47 10601.97 10618.28 10619.05 10649.23 10709.04 10381.74 10653.59 10394.85 +300.98

Theoretical (t): High 956.24 Low 888.82 Actual (a): High 955.29 Low 890.12

Theoretical (t): High 10709.04 Low 10101.24 Actual (a): High 10653.59 Low 10151.23

Jun 20

NY Up NY Off NY Up - Comp. NY Off - Comp. NYSE Amer UP NYSE Amer Off NASD Up NASD Off NYSE Arca UP NYSE Arca Off % (QCHA) % (QACH) % (QCHAQ)

NYSE

NYSE Amer

Nasdaq

NYSE Arca

3,584 2,646 847 91 38 560

305 175 124 6 4 63

5,407 3,583 1,623 201 113 692

1,909 1,552 342 15 11 296

NYSE Composite Daily Breadth

Dow Jones 20 Transport (divisor: 0.16343894576034) Open (t) … 13088.31 12888.24 12971.69 Open (a) … 13013.35 12958.35 12937.86 10:00 … 13022.66 12939.89 12974.15 10:30 … 13122.45 12946.24 12855.74 11:00 … 13084.63 13042.25 12910.98 11:30 … 13006.13 12947.99 12973.68 12:00 … 13029.73 12955.01 12935.99 12:30 … 13042.56 12923.76 12891.02 1:00 … 13064.54 12968.05 12844.55 1:30 … 13100.43 12970.64 12879.91 2:00 … 13048.61 12988.33 12875.56 2:30 … 13053.93 12988.85 12912.22 3:00 … 13056.97 12956.69 12949.67 3:30 … 13077.64 12959.37 12985.53 Close … 13061.64 12914.85 13032.21 High (t) … 13261.40 13103.70 13129.67 Low (t) … 12874.69 12766.51 12759.60 High (a) … 13131.28 13046.77 13053.83 Low (a) … 12973.33 12883.62 12812.34 Change … +193.04 –146.79 +117.36

Dow Jones 15 Utilities (divisor: 1.27924906167720) Open (t) … 891.38 898.18 Open (a) … 890.84 900.00 10:00 … 896.62 904.99 10:30 … 893.61 907.30 11:00 … 898.59 910.70 11:30 … 899.78 912.01 12:00 … 903.17 912.48 12:30 … 901.36 914.48 1:00 … 901.77 916.63 1:30 … 904.00 915.03 2:00 … 903.62 915.50 2:30 … 905.03 918.18 3:00 … 907.67 917.18 3:30 … 906.52 917.24 Close … 904.22 912.38 High (t) … 908.95 920.54 Low (t) … 888.82 897.73 High (a) … 908.35 919.50 Low (a) … 890.12 898.87 Change … +16.50 +8.16

Daily

Week ended last Friday compared to previous Friday

Theoretical (t): High 31614.60 Low 30024.84 Actual (a): High 31517.29 Low 30074.69

Transportation Week's Change

Trading Diary

Dow Jones 30 Industrial (divisor: 0.15172752595384)

Jun 20

Issues Traded Advances Declines Unchanged New Highs New Lows Blocks - primary Total (000) - primary Total (000)

... 3,415 3,420 3,408 3,354 ... 2,398 1,541 1,968 2,668 ... 901 1,734 1,312 563 ... 116 145 128 123 ... 11 5 4 10 ... 158 270 261 68 ... 5,251 4,851 5,140 5,761 ... 1,260,162 1,216,109 1,092,624 3,191,389 ... 5,292,073 5,076,389 5,078,023 8,310,884

NYSE American Composite Daily

Issues Traded Advances Declines Unchanged New Highs New Lows Blocks - primary Total (000) - primary Total (000)

Jun 20

... 291 286 292 291 ... 173 113 132 211 ... 108 161 151 69 ... 10 12 9 11 ... ... ... ... 2 ... 29 24 28 12 ... 183 157 157 207 ... 24,697 22,471 15,384 141,277 ... 267,060 229,902 216,928 411,195

Nasdaq Daily

Issues Traded Advances Declines Unchanged New Highs New Lows Blocks - primary Total (000)

Jun 20

... 4,937 4,859 4,858 4,789 ... 3,254 2,206 2,862 3,072 ... 1,459 2,398 1,733 1,472 ... 224 255 263 245 ... 35 10 36 33 ... 202 304 289 147 ... 30,403 38,769 30,957 35,988 ... 5,207,926 5,224,213 5,223,554 9,606,164

NYSE Arca Composite Daily

Issues Traded Advances Declines Unchanged New Highs New Lows Blocks - primary Total (000) - primary Total (000)

Jun 20

... 1,730 1,726 1,707 1,709 ... 1,323 668 1,101 1,462 ... 394 1,038 596 232 ... 13 20 10 15 ... 3 ... ... 4 ... 61 126 204 37 ... 1,163 1,204 1,277 1,225 ... 318,772 320,588 343,275 337,316 ... 1,729,436 1,715,124 1,865,208 1,774,575

Other Market Indexes Daily NYSE Amer Comp AmMajorMkt BNY ADR Idx Europe Latin Am Asia Emerg M DJ US TSM Float Nasdaq Cmp 100 Index Indus. Insur. Banks Computer Telecom NYSE Comp.-z Financial-z Health Care-z Energy-z Russell 1000 2000 3000 Value-v Growth-v MidCap S&P 100 Index 500 Ind. MidCap SmallCap Value Line(A) Value Line(G) DJ US Small TSM

6/20

6/21

6/22

6/23

6/24

... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...

3982.98 2700.00 139.01 129.27 181.87 170.77 289.31 37772.99 11069.30 11546.76 7952.91 9933.31 4009.14 8522.07 384.59 14414.25 8313.12 21646.52 11800.30 2064.87 1694.03 2171.40 1421.83 2185.56 2568.05 1720.78 3764.79 5250.20 2248.30 1111.24 8000.84 522.17 11525.53

3836.47 2692.38 137.43 128.28 179.63 167.97 283.78 37723.66 11053.08 11527.71 7931.67 9975.43 4011.25 8487.81 386.71 14352.78 8294.84 21924.75 11338.34 2062.59 1690.28 2168.86 1419.25 2184.81 2563.57 1718.17 3759.89 5238.91 2240.93 1108.31 7973.43 520.24 11489.42

3734.98 2701.48 137.04 127.46 175.26 169.10 285.05 38127.06 11232.19 11697.68 8048.80 9977.42 3962.20 8619.96 389.05 14402.12 8284.49 22356.89 10932.19 2084.36 1711.67 2192.02 1425.44 2222.37 2589.43 1736.15 3795.73 5294.73 2254.36 1117.67 8045.88 524.68 11623.83

3838.27 2778.37 141.23 132.00 177.50 173.39 292.85 39315.46 11607.62 12105.85 8311.74 10341.34 4077.88 8953.67 396.01 14811.55 8554.02 22774.06 11163.70 2149.71 1765.74 2260.78 1463.52 2302.95 2674.49 1789.20 3911.74 5455.03 2334.40 1152.32 8320.80 542.44 12004.46

(A)-Arithmetic Index. (G)-Geometric Index. (v)-Value 1000 and Growth 1000. (y)-Dec. 31,1965=50. (z)-Dec. 31,2002=5000.

BARRON’S

June 27, 2022

MARKET LABORATORY

D ATA

B A R R O N S .C O M / D ATA

The Week In Stocks For the Major Indexes 12-Month High Low

Weekly

Dow Jones Indexes 36799.65 29888.78 30 Indus 17039.38 12868.60 20 Transp 1071.75 869.74 15 Utilities 12360.33 10078.81 65 Comp Dow Jones Indexes 48918.18 36759.60 US TSM Float 1188.95 895.28 US Market 1144.05 555.93 Internet New York Stock Exchange 17353.76 14097.05 Comp-z 10670.71 8106.90 Financial-z 24968.12 21119.06 Health Care-z 14030.84 7600.86 Energy-z NYSE American Stock Exchange 4438.05 2856.51 NYSE Amer Comp 3198.39 2645.07 Major Mkt Standard & Poor's Indexes 2219.44 1671.23 100 Index 4796.56 3666.77 500 Index 6735.36 5106.22 Indus 2910.70 2200.75 MidCap 1466.02 1087.48 SmallCap Nasdaq Stock Market 16057.44 10646.10 Comp 16573.34 11127.57 100 Index 12147.21 7627.45 Indus 11694.54 9622.71 Insur 5408.36 3886.15 Banks 12408.55 8207.01 Computer 560.68 370.98 Telecom Russell Indexes 2660.78 2009.94 1000 2442.74 1649.84 2000 2804.93 2113.70 3000 1680.11 1389.97 Value-v 3114.73 2110.82 Growth-v 3406.42 2508.30 MidCap Others 10202.83 7811.99 Value Line-a 696.40 510.18 Value Line-g 16368.58 11225.29 DJ US Small TSM Barron's Future Focus 1096.30 769.43 1127.20 852.16 Barron's 400

Friday

Change From 12/31 % Chg.

High

Low

Chg.

31500.68 13548.30 953.63 10649.23

30483.13 12914.85 904.22 10246.42

31500.68 13548.30 953.63 10649.23

1611.90 679.70 65.91 570.42

5.39 5.28 7.42 5.66

–2933.16 –1428.67 64.56 –774.97

–8.52 –9.54 7.26 –6.78

–4837.62 –2929.96 –27.15 –1617.62

–13.31 –17.78 –2.77 –13.19

39315.46 958.04 630.01

37723.66 919.02 578.72

39315.46 958.04 630.01

2398.36 59.20 59.92

6.50 6.59 10.51

–5501.25 –121.81 –473.99

–12.28 –11.28 –42.93

–9318.85 –224.27 –396.47

–19.16 –18.97 –38.62

14811.55 8554.02 22774.06 11800.30

14352.78 8284.49 21646.52 10932.19

14811.55 8554.02 22774.06 11163.70

714.50 410.98 1655.01 –142.70

5.07 5.05 7.84 –1.26

–1847.24 –1478.38 967.81 2139.53

–11.09 –14.74 4.44 23.71

–2352.58 –1621.34 –1571.58 2017.52

–13.71 –15.93 –6.46 22.06

3982.98 2778.37

3734.98 2692.38

3838.27 2778.37

–3.99 133.30

–0.10 5.04

582.59 –303.97

17.89 –9.86

411.03 –355.57

11.99 –11.35

1789.20 3911.74 5455.03 2334.40 1152.32

1718.17 3759.89 5238.91 2240.93 1108.31

1789.20 3911.74 5455.03 2334.40 1152.32

113.30 236.90 336.44 113.91 57.20

6.76 6.45 6.57 5.13 5.22

–163.29 –368.96 –512.62 –392.08 –236.44

–8.36 –8.62 –8.59 –14.38 –17.03

–405.38 –854.44 –1234.28 –507.60 –249.39

–18.47 –17.93 –18.45 –17.86 –17.79

11607.62 12105.85 8311.74 10341.34 4077.88 8953.67 396.01

11053.08 11527.71 7931.67 9933.31 3962.20 8487.81 384.59

11607.62 12105.85 8311.74 10341.34 4077.88 8953.67 396.01

809.27 839.86 579.92 567.81 129.78 649.36 16.22

7.49 7.45 7.50 5.81 3.29 7.82 4.27

–2752.77 –2239.33 –2635.26 –711.44 –561.49 –1252.81 –135.19

–19.17 –15.61 –24.07 –6.44 –12.10 –12.27 –25.45

–4037.35 –4214.23 –3001.14 –1075.06 –876.79 –3201.86 –100.79

–25.81 –25.82 –26.53 –9.42 –17.70 –26.34 –20.29

2149.71 1765.74 2260.78 1463.52 2302.95 2674.49

2062.59 1690.28 2168.86 1419.25 2184.81 2563.57

2149.71 1765.74 2260.78 1463.52 2302.95 2674.49

132.36 100.04 138.54 73.55 169.11 151.62

6.56 6.01 6.53 5.29 7.93 6.01

–264.83 –568.66 –305.15 –107.57 –403.11 –509.70

–10.97 –24.36 –11.89 –6.85 –14.90 –16.01

–496.20 –479.58 –527.36 –192.21 –772.04 –645.55

–18.75 –21.36 –18.91 –11.61 –25.11 –19.44

8320.80 542.44 12004.46 834.10 884.83

7876.80 514.20 11489.42 792.15 858.51

8320.80 542.44 12004.46 834.10 884.83

444.00 28.24 655.53 57.22 32.67

5.64 5.49 5.78 7.36 3.83

–1452.46 –137.39 –3639.35 –217.42 –127.95

–14.86 –20.21 –23.26 –20.68 –12.63

–1600.13 –129.50 –3249.59 –226.77 –221.43

–16.13 –19.27 –21.30 –21.38 –20.02

High/Low's are based upon the daily closing index. a-Arithmetic Index. G-Geometric Index. V-Value 1000 and Growth 1000 y-Dec. 31,1965=50 z-Dec. 31,2002=5000

U.S. Dollar Index vs Euro and Yen

DJ latest 52-week earnings and dividends adjusted by Dow Divisors at Friday's close. S&P Dec. 4-quarter's GAAP earnings as reported and indicated dividends based on Friday close.S&P 500 P/E ratios based on GAAP earnings as reported. For additional earnings series, please refer to www.spglobal.com. DJ latest available book values for FY 2020 and 2019, and S&P latest for 2020 and 2019. rRevised data

DJ Ind Avg P/E Ratio Earns Yield % Earns $ Divs Yield % Divs $ Mkt to Book Book Value $ DJ Trans Avg P/E Ratio Earns Yield % Earns $ Divs Yield % Divs $ Mkt to Book Book Value $ DJ Utility Avg P/E Ratio Earns Yield % Earns $ Divs Yield % Divs $ Mkt to Book Book Value $ S&P 500 Index P/E Ratio Earns Yield % Earns $ Divs Yield % Divs $ Mkt to Book Book Value $ S&P Ind Index P/E Ratio Earns Yield % Earns $ Divs Yield % Divs $ Mkt to Book Book Value $

Earns

DXY (104.12)

0 -5

-10 s

-15

YEN in $

-20 M

Prev. Week

Last Year

31500.68 18.08 5.53 1742.22 2.10 660.20 4.81 6543.35 13548.30 13.88 7.21 976.39 1.29 174.90 4.58 2957.33 953.63 27.55 3.63 34.62 3.03 28.87 2.43 392.45 3911.74 19.77 5.06 197.87 1.68 65.72 3.88 1008.02 5455.03 22.70 4.40 240.29 1.51 82.37 5.23 1042.07

29888.78 17.16 5.83 1742.22 2.21 660.20 4.57 6543.35 12868.60 12.81 7.81 1004.96 1.34 172.46 4.35 2957.33 887.72 25.64 3.90 34.62 3.25 28.87 2.26 392.45 3674.84 18.57 5.38 197.87 1.78 65.41 3.65 1008.02 5118.59 21.30 4.69 240.29 1.61 82.41 4.91 1042.07

34433.84 29.05 3.44 1185.50 1.75 603.04 5.15 6688.86 14976.97 0.00 0.00 (42.58) 1.05 157.92 4.42 3389.19 889.07 22.59 4.43 39.36 3.10 27.55 2.37 374.40 4280.70 45.48 2.20 94.13 1.38 59.07 4.62 927.52 5967.65 52.00 1.92 114.77 1.25 74.60 6.37 936.72

This is a list of the Dow Jones trailing 52-week diluted share earnings, dividends and book values as reported by the company. Bolded numbers indicate new values. Sources Barron's Stats and FactSet. Industrial Stocks

15 s

Last Week

Per Share Values of Stocks In the Dow Jones Averages

Easing Money: Fed Chair Powell promised Congress that he’ll fight inflation, as yields eased on 10-year Treasuries amid recession worries. Measuring the dollar against a basket of six other currencies, the ICE U.S. Dollar Index gave up 0.5% on the week. 20

EURO in $

Stock Volume

Indexes’ P/Es & Yields

12-Month Chg. % Chg.

Weekly % Chg.

J Source: Tullett Prebon

Am Exp Amgen Apple Boeing Caterpillar Chevron Corp Cisco Sys Coca Cola Disney Walt Dow Goldman Sachs Home Depot Honeywell IBM Intel

Book Divs. Value

9.98 1.81 28.55 10.16 7.44 16.27 6.16 0.88 3.85 (8.27) Suspended (31.45) 11.93 4.44 28.11 8.43 5.52 68.40 2.85 1.48 8.95 2.38 1.72 4.49 1.45 0.00 46.18 9.17 2.80 16.73 51.52 8.00 246.24 15.75 7.10 3.06 7.53 3.87 25.19 6.10 6.57 23.07 6.02 1.4075 19.95

Earns

Book Divs. Value

Johnson&John 7.42 4.31 24.04 JPMorgChase 13.48 3.90 81.75 McDonalds 9.47 5.43 (10.50) Merck Co 5.59 2.72 10.01 Microsoft 9.58 2.43 18.88 Nike Inc 3.79 1.19 8.09 Proc Gam 5.73 3.5227 18.73 3M Co 9.61 5.94 22.27 Salesforce.com 1.03 0.00 45.15 Travelers Cos 15.80 3.57 115.69 UnitedHealthGrp 18.27 6.00 69.23 Verizon 5.15 2.5475 16.39 Visa 6.36 1.445 14.65 Walgreens 7.25 1.91 23.84 Wal-mart 4.65 2.21 28.69

Transportation Stocks

144 Filings

Yearly Hi/Lo Barron's Gold Mining Index The yearly Barron's Gold Mining Index price; with a high/low range based on the weekly close. Year

High

2022 2021 2020

1228.34 1147.72 931.99

Date

Low

24 27 17

803.15 894.65 391.56

Date

SEC Form 144 must be filed by holders of restricted securities (also called letter stock) who intend to sell shares. Shares Indicated: the number to be sold. Sales Date: the approximate date of the sale. (Sometimes shares aren't sold, even though their owner has filed a Form144.) Source: Thomson Reuters Shares Indicated

Latch

LTCH 406,438

532,434 6/14/22

Chargepoint

CHPT 250,000

3,257,800 6/15/22

Distributions & Offerings

Advanced Micro Devices

AMD

Thunder Bridge Acquisition Ii

INDI

200,000

1,302,000 6/16/22

Schiller, Thomas

Secondary Distributions of common stocks

Cullinan Oncology

CGEM

157,204

1,929,712 6/15/22

Zawel, Leigh

Marqeta

100,000

950,000 6/15/22

Weissman, Seth

Samsara

IOT

Day One Biopharmaceuticals

DAWN

Empire Petroleum Samsara

Applied Therapeutics Precision BioSciences Quotient Ltd Xenon Pharmaceuticals

20,000,000 35,971,224 66,666,667 9,098,362

$1.00 $1.39 $0.30 $30.50

23 04 19

$20,000,000 $50,000,001 $20,000,000 $277,500,041

Source: Dealogic LLC, New York City; (212) 577-4400.

232,169 20,471,351 6/15/22

Seller

Title

Sym

June Mar Mar

$ Value

Sale Date

Company

Mar May Dec

Mitchell, Garth

(3.84) 11.31 27.86 12.39 9.79 12.05 0.94 10.52 (6.13) 12.25

Nil 51.37 0.96 18.02 1.20 22.25 4.41 58.67 0.90 44.50 2.32 41.98 Nil 15.03 4.73 25.26 5.08 19.11 Nil 0.76

Utility Stocks

95,219

1,046,595 6/15/22

Phillips, Dominic

1,266,400 6/15/22

Blackman, Samuel AF

79,166

1,535,820 6/13/22

Kamin, Anthony

IOT

70,062

769,889 6/15/22

FO O

AES Corp. (0.27) 0.6095 3.96 Am Elec 5.23 3.04 41.38 AmericanWaterWorks 7.09 2.41 35.60 Atmos Energy 5.38 2.665 53.95 Con Ed 4.33 3.115 55.11 DominionEnergy 3.58 2.5575 29.44 Duke Energy 4.76 3.94 59.82 Edison Int'l 1.54 2.725 37.08

Exelon 2.65 1.485 33.39 FirstEnergy 2.24 1.56 13.32 NextEra Energy 0.74 1.62 18.63 Xcel Energy 2.99 1.89 27.12 Pub Sv Ent (1.23) 2.10 31.71 Sempra Energy 3.10 4.445 70.11 Southn Co. 2.16 2.64 25.45

Last Week

Prev. Week

Year Ago

YOY % Chg

6,760,284 1,558,460 486,445 229,883 2,274,788 203,829 25,261,857

8,439,326 2,369,391 770,810 383,320 3,523,522 201,899 29,452,733

6,397,887 1,602,238 399,208 208,246 2,209,692 369,498 25,340,182

5.66 -2.73 21.85 10.39 2.95 -44.84 -0.31

17.04 13.96 0

16.73 13.76 r600,600

23.80 16.07 10,411,000

-28.40 -13.13 ....

NYSE 15 Most Active Average Price % Tot Vol Stock Offerings $(z,v) 6/20

6/21

6/22

6/23

6/24

NYSE(a) 30 Inds (b) 20 Trans (b) 15 Utils (b) 65 Stks (b) NYSE Amer(a) Nasd(d)

... ... ... ... ... ... ....

1,260,162 379,347.5 117,406.4 59,205.2 555,959.2 24,697 5,207,926

1,216,109 345,823.2 105,496.6 58,301.4 509,621.2 22,471 5,224,213

1,092,624 362,907.4 111,574.1 53,921.1 528,402.6 15,384 5,223,554

3,191,389 470,382.0 151,967.6 58,455.8 680,805.4 141,277 9,606,164

NYSE 15 Most Active Avg. Price % Tot Vol

.... ....

17.92 16.35

12.98 16.67

14.20 13.94

17.69 12.18

Daily Stock Volume

Numbers in thousands save price and percentages. (a) Primary volume. (b) Composite volume. (d) as of 4:10 pm. (r) Revised. (v) W/E Thursday. (z) Source: Refinitiv.

NYSE Half Hour Volume Daily

6/20

6/21

6/22

6/23

6/24

... ... ... ... ... ... ... ... ... ... ... ... ...

162,107 64,185 52,252 45,187 40,863 33,731 32,798 31,497 34,086 38,836 37,111 46,364 641,146

135,939 60,141 51,381 45,049 41,867 34,764 30,128 28,706 29,780 40,720 34,300 45,871 637,464

125,956 57,369 54,369 46,799 47,020 46,141 43,885 41,660 36,270 36,342 40,234 48,327 468,251

138,131 67,387 54,413 45,342 37,698 34,954 31,473 30,066 32,790 38,584 37,366 46,932 2,596,254

9:30-10:00 10:00-10:30 10:30-11:00 11:00-11:30 11:30-12:00 12:00-12:30 12:30-1:00 1:00-1:30 1:30-2:00 2:00-2:30 2:30-3:00 3:00-3:30 3:30-4:00

Selected IPOs Ticker

Golden Sun Education

Initial Offer Price

IPO Date

Recent Price

4.00

6/22

19.80

GSUN

Investor Sentiment Readings High bullish readings in the Consensus stock index or in the Market Vane stock index usually are signs of Market tops; low ones, market bottoms. Last Week

2 Weeks Ago

3 Weeks Ago

38%

45%

Consensus Bullish Sentiment

35%

AAII Index Bullish

18.2%

19.4%

21.0%

Bearish

59.3

58.3

46.9

Neutral

22.5

22.2

32.1

41%

47%

35.2%

41.9%

39.0%

Market Vane

TIM Group Market Sentiment Indicator

Sources: Consensus Inc.; American Association of Individual Investors; Market Vane; TIM Group

Arms Index The Arms index, also known as the short term trading index, is a number derived by dividing one quotient into another quotient. The numerator in the index is the number of advancing stocks divided by the number of declining stocks. As of 3/14/11, the denominator in the index is now the composite volume of advancing stocks divided by the composite volume of declining stocks.

NYSE NYSE American Nasdaq

%Chg

395.0%

New Listings NYSE Enhabit (EHAB)

NYSE American None

Consensus Index

Bullish Consensus Kirby Corp Landstar Sys Matson Inc Norf Southern Old Dominion Ryder Sys Southwest Air Un Pacific UPS United Airlines

80,000

Sekar, Kiren

3.63 Suspended 24.05 (3.68) Suspended (11.05) 32.42 Nil -2.21 7.11 2.16 14.00 1.76 0.386 17.18 0.79 Suspended 2.40 8.64 1.16 15.71 14.30 3.40 90.40 8.06 1.40 24.61 (0.59) Nil 12.50

Romano, Pasquale CEO Wolin, Harry

AlaskaAirGroup AmericanAirlines AvisBudgetGrp C.H. Robinson CSX Corp Delta Air Lines Expeditors Int'l FedEx Hunt (JB) JetBlue Air

NYSE(a) 30 Dow Inds (b) 20 Dow Trans (b) 15 Dow Utils (b) 65 Dow Stks (b) NYSE American (a) Nasdaq(d)

6/20

6/21

6/22

6/23

6/24

... ... ...

.66 .42 .82

1.28 3.36 .78

1.55 2.52 .64

2.19 1.28

.98

Nasdaq Golden Sun Education (GSUN) Inter (INTR) IperionX (IPX)

Trading Suspended

NYSE Anaplan (PLAN) Datto Holding (MSP) Enel Americas (ENIA) Preferred Apartment Communities (APTS) NYSE American None Nasdaq Electric Last Mile (ELMS) Summer Infant (SUMR)

Name Changes NYSE None NYSE American None Nasdaq Pagaya Technologies (PGY), formerly EJF Acqui (EJFA)

June 27, 2022

D ATA

BARRON’S

MARKET LABORATORY

B A R R O N S .C O M / D ATA

Dow Jones U.S. Total Market Industry Groups Net Change Top 20 Weekly Ranked

IG-Sym

Automobiles Automobiles & Parts Water Brewers Personal Products Home Construction Mortgage REITs Gambling Software Hshld Goods & Home Constr Nondurable Hshld Pdts Real Estate Services Real Estate Investmt & Svcs Auto Parts Software & Computer Svcs Pharmaceuticals Internet Media Agencies Durable Hshld Pdts Pharmaceuticals & Biotech

DJUSAU DJUSAP DJUSWU DJUSDB DJUSCM DJUSHB DJUSMR DJUSCA DJUSSW DJUSHG DJUSHN DJUSES DJUSRH DJUSAT DJUSSV DJUSPR DJUSNS DJUSAV DJUSHD DJUSPN

880.12 1005.59 3122.34 596.24 692.97 1107.39 35.33 474.90 4410.53 862.61 1120.27 212.44 449.44 454.36 4027.05 834.12 2550.54 434.90 209.49 1043.78

Wkly

% Change and Ranking

YTD

+ 98.52 –430.90 + 109.81 –487.47 + 333.28 –760.50 + 62.45 10.31 + 67.57 –125.87 + 103.51 –619.51 + 3.27 –5.90 + 42.33 –234.27 + 382.30 –1,459.86 + 74.69 –203.77 + 96.71 –154.92 + 18.28 –108.99 + 38.60 –230.55 + 38.54 –200.05 + 341.46 –1,459.40 + 70.36 34.84 + 214.31 –1,134.26 + 36.12 –205.47 + 17.13 –104.88 + 85.21 –52.41

Top 20 Yr Ago Ranked

IG-Sym

Integrated Oil & Gas Oil & Gas Producers Exploration & Production Aluminum Food Retailers & Whlslrs Pharmaceuticals Food & Drug Retailers Soft Drinks Property & Casualty Oil Equipment & Svcs Defense Beverages Insurance Brokers Gas Distribution Electricity Conventional Electricity Health Care Providers Full Line Insurance Multiutilities Waste & Disposal Svcs

DJUSOL DJUSOG DJUSOS DJUSAL DJUSFD DJUSPR DJUSDR DJUSSD DJUSIP DJUSOI DJUSDN DJUSBV DJUSIB DJUSGU DJUSEU DJUSVE DJUSHP DJUSIF DJUSMU DJUSPC

633.85 708.31 852.81 168.62 796.07 834.12 1001.86 913.53 1152.16 220.85 543.35 979.09 541.22 310.76 323.86 324.26 3064.57 52.06 245.15 427.69

Wkly

Rank

Yr Ago

Rank

YTD

Rank

3 Yr

High

Low

+12.60 +12.26 +11.95 +11.70 +10.80 +10.31 +10.21 +9.79 +9.49 +9.48 +9.45 +9.42 +9.40 +9.27 +9.26 +9.21 +9.17 +9.06 +8.90 +8.89

[1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20]

–2.53 –6.23 –3.09 –31.12 –5.11 –23.24 –23.03 –46.99 –13.46 –5.02 +6.70 –34.70 –34.80 –28.97 –18.91 +18.39 –27.66 –48.45 –36.97 +2.65

[42] [60] [44] [124] [54] [110] [109] [137] [80] [52] [23] [129] [130] [122] [100] [6] [116] [138] [131] [30]

–32.87 –32.65 –19.59 +1.76 –15.37 –35.87 –14.31 –33.03 –24.87 –19.11 –12.15 –33.91 –33.91 –30.57 –26.60 +4.36 –30.78 –32.09 –33.36 –4.78

[125] [124] [79] [17] [60] [135] [58] [127] [94] [73] [50] [131] [132] [115] [103] [8] [117] [121] [128] [33]

+70.70 +51.80 +6.47 +.32 +4.63 +10.69 –13.35 –15.21 +16.77 +6.85 +7.72 +1.42 +.25 +1.98 +14.72 +12.57 +13.91 –10.74 –1.96 +10.17

1,491.73 1,683.79 3,882.84 872.88 819.42 1,737.92 46.21 901.00 6,238.14 1,066.98 1,280.75 387.64 812.08 705.50 5,801.38 837.64 3,942.76 867.33 344.00 1,122.88

769.12 881.74 2,771.49 531.77 619.95 1,003.88 30.79 420.78 3,971.35 787.92 1,023.56 188.07 398.27 410.38 3,633.79 700.21 2,301.86 387.09 189.01 952.18

% Change and Ranking

YTD

– 1.96 – 11.25 – 26.81 + .27 + 58.58 + 70.36 + 70.82 + 51.20 + 51.37 – 8.81 + 25.26 + 57.29 + 42.69 + 14.76 + 21.18 + 21.20 + 228.46 + 1.25 + 15.96 + 28.65

52 Week

Week

Net Change

169.74 172.78 183.57 –34.91 –83.60 34.84 –97.93 5.31 37.55 38.71 58.09 3.58 –57.94 9.17 –16.11 –16.13 –195.11 –3.50 5.71 –52.54

52 Week

Week

Rank

Yr Ago

Rank

YTD

Rank

3 Yr

High

Low

–.31 –1.56 –3.05 +.16 +7.94 +9.21 +7.61 +5.94 +4.67 –3.83 +4.87 +6.22 +8.56 +4.99 +7.00 +7.00 +8.06 +2.46 +6.96 +7.18

[127] [132] [135] [126] [34] [16] [44] [71] [98] [136] [92] [68] [26] [87] [56] [57] [32] [118] [59] [52]

+37.44 +36.75 +35.83 +35.79 +20.42 +18.39 +14.98 +13.66 +12.52 +11.86 +11.54 +11.26 +9.54 +9.14 +9.12 +9.12 +7.96 +7.92 +7.60 +7.51

[1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20]

+36.57 +32.26 +27.43 –17.15 –9.50 +4.36 –8.90 +.58 +3.37 +21.25 +11.97 +.37 –9.67 +3.04 –4.74 –4.74 –5.99 –6.29 +2.39 –10.94

[1] [2] [3] [64] [43] [8] [41] [19] [10] [4] [5] [20] [44] [11] [31] [32] [35] [37] [15] [47]

+4.43 +7.48 +11.71 +33.43 +20.19 +12.57 +16.03 +7.47 +8.09 –3.43 +5.12 +7.54 +12.55 –2.51 +3.82 +3.82 +17.84 +1.49 +3.64 +9.71

774.93 898.63 1,136.46 324.74 962.72 837.64 1,195.19 959.39 1,252.23 304.14 599.78 1,023.55 632.86 341.25 361.00 361.44 3,455.10 62.00 274.00 485.46

385.74 426.69 508.00 108.02 661.13 700.21 864.80 801.18 1,008.72 156.51 449.65 860.82 480.27 262.00 297.38 297.75 2,711.82 45.50 218.90 398.81

Groups are weighted by capitalization. 52-week highs and lows are based on daily closes. Dec. 31, 1991=100. In the U.S. listings, % vol chg column shows the change from previous 65-day moving average. Volume figures do not reflect extended trading hours.

Delta Market Sentiment Indicator The Delta MSI measures the position of a representative set of stocks relative to an intermediate-term moving average crossover (MAC) point. When greater than 50% of the stocks followed are above this MAC point, the market is bullish. When the indicator is below 50%, risk is elevated and stock exposures should be reduced. Manager uses discretion on asset allocation when MSI is at 50% +/- 3%.

Bearish Current Sentiment

5.2% Last Week

12.6% 2 Weeks ago

40.8% 3 Weeks ago

Current Market Exposure: 0% Equities, 0% Bonds, 100% Cash Source: Delta Investment Management www.deltaim.com, (415) 249-6337

Economic Growth and Investment

Latest Date

Latest Preceding Data

Period

Latest Date

Year YroYr Ago % Chg

No Activity for this Week

Trade

Production

Balance of payments (including services), (bil $)

Electric power, (mil. kw hrs) (EEI)

June 18 91,360

Petroleum, related capacity, %

June 17

93.7

92.2

Rotary rigs running, U.S. & Can., (Hughes) June 24

907

896

596 52.18

81,976 86,207 5.98

June 18

1,758

1,784

1,839 –4.40

Steel, rated capacity, % (AISI)

June 18

80.5

81.7

82.9 –2.90

Consumption and Distribution 12.63

Latest Preceding Data Period

1st Qtr –291.4

Year YroYr Ago % Chg

r–224.8 –188.7 54.43

Inflation

Instinet Research Redbook Avg. (monthly %) June 18

0.49

0.77

Baltic Dry Index

June 24

2,331

2,578

3,255 –28.39

May

696

r629

740 –5.95

….

JOC–ECRI Industrial Price Index f

June 24 148.74

0.85

6.40

0.75

5.00

0.65

3.60

0.55

2.20

0.45

0.80

0.35 J A S O N D J F M A M J Source: CBOE

Coming Earnings Consensus Estimate

Year Ago

0.66 1.74 0.80

0.69 1.42 0.72

2.56 2.47 0.92

2.33 1.88 1.38

McCormick (Q2) MSC Industrial Direct (Q3) Paychex (Q4) TH

Constellation Brands (Q1) Micron (Q3) Walgreens Boots Alliance (Q3)

Continued from page 13. (Earnings are diluted and report dates are tentative. All forecasts and historical numbers exclude extraordinary items by accounting definitions.) Source: FactSet

Initial jobless claims (thous.)

June 18

229

r231

424 –45.99

Continuing claims (mil.)

June 11

1.315

r1.310

3.271 –59.80

....

Citi Research Panic–Euphoria Reading June 24 –0.02

Gasoline, (thous. bbls)

217,474 240,050

....

a-1997 equals 100. b-1982-84 equals 100. c-1982 equals 100. f-1996 equals 100. hbenchmark revision, 2016 equals 100. r-Revised. NA- Due to systems issues at source, data is not available.

0.00

0.73

….

Jun 23 2022

1,372FY'23 +308.22 r-107.65 30,450.4 31,381.5 r4,528.7

1,837FY'22 –131.95 –65.72 28,304.9 …. 4,244.0

…. -49.81 32.50 7.54 …. 7.60

Sources: a-Office of Management and Budget, b-Monthly Treasury Statement, c-Monthly Commerce Dept. Report, d-Daily Treasury Statement, e-Monthly Federal Reserve Release.

Jun 24

Jun 17

Yr. Ago

YOY % Chg

1 Year Treas Bills 2.94 2 Year Treas Notes 3.27 3 Year Treas Notes 3.44 5 Year Treas Notes 3.45 10 Year Treas Notes 3.36 20 Year Treas Bds 3.64 11th District % Apr Discontinued FHFA PMMS+ 3.84

2.34 2.83 3.00 3.07 3.05 3.40 .... 3.84

0.08 0.20 0.40 0.85 1.51 2.08 0.343 3.12

3575.00 1535.00 760.00 305.88 122.52 75.00 .... 23.08

Fed annualized yields adjusted for constant maturity.

June 2021

Yr-to-Yr % Chg

3795.73 3666.77 4230.10

–10.27

10299.38 10165.29

11244

–8.40

109.14

22.87

Annualized projected earn

536.38 542.63

436.56

22.87

18.73

25.77

–25.49

433.76 434.38

Annualized projected P/E Five-year average P/E

Adjustable Mortgage Rates

Jun 16 2022

135.66

Year-end P/E

Federal Budget Deficit (bil. $)-a 1,359FY'24 Budget Surplus/Deficit (bil. $)-b, May –66.22 Trade Deficit (bil. $, sa)-c, April –87.08 Treasury Gross Public Debt. (bil. $)-d 30,438.4 Treasury Statutory Debt Limit (bil. $)-d 31,381.5 Consumer Installment Debt (bil. $)-e, April 4,566.7

Q1 Q4 Q2 Q4 Q3

134.09

Year-end earn

Year Ago Yr over Yr Report % Chg

10:30AM 9:00AM 8:00AM 9:30AM 8:30AM

Projected quarterly earn

Five-year average earn

No Activity for this Week

Preceding Report

June 30 June 29 June 29 June 29 June 30

This index is a weighted average of 50 leading issues. Useful in security valuation. Source: Barron's Stats

Barron’s 50 Index

418,714 459,060

.0080 .6943 2.6522 .1907 .5401 .7755 .001089 .1495 .0002416 .1401974 …… .. .04268 .1418 1.0000 .0533 .1274 .002629 .007555 .01278 .0000673 .2931 .007396 .002140 3.2635 .1236 .2272 …… .. .0503 .6332 .1014 2.5971 .00482 .01821 .2250 .2747 .01845 .2665 .7214 .0633 .0007756 .0028 .0987 1.0433 .03366 .02819 .0592 .0338 1.2273 …… .. .02517 1.0558

U.S. $ in Foreign Currency Fri.

U.S. $ in Foreign Currency Last Fri.

.0081 124.2265 122.8600 .6935 1.4403 1.4420 2.6525 .3771 .3770 .1940 5.2425 5.1535 .5366 1.8515 1.8636 .7671 1.2895 1.3036 .001141 917.87 876.80 .1489 6.6898 6.7167 .0002563 4138.50 3902.16 .1395693 7.13 7.16 …… .. …… .. …… .. .04246 23.429 23.553 .1411 7.0501 7.0870 1.0000 1.0000 1.0000 .0533 18.7772 18.7442 .1274 7.8495 7.8502 .002625 380.31 380.97 .007623 132.36 131.19 .01283 78.254 77.962 .0000675 14848 14823 .2890 3.4116 3.4608 .007410 135.21 134.96 .002240 467.26 446.36 3.2567 .3064 .3071 .1236 8.0906 8.0895 .2272 4.4020 4.4020 …… .. …… .. …… .. .0492 19.8633 20.3433 .6312 1.5793 1.5843 .1000 9.8586 9.9987 2.5973 .3850 .3850 .00478 207.500 209.250 .01863 54.901 53.673 .2243 4.4444 4.4576 .2746 3.6404 3.6410 .01739 54.200 57.500 .2665 3.7525 3.7522 .7191 1.3862 1.3907 .0624 15.8070 16.0225 .0007743 1289.28 1291.57 .0028 359.0000 362.0000 .0983 10.1355 10.1740 1.0307 .9585 .9702 .03365 29.710 29.717 .02838 35.470 35.230 .0577 16.8862 17.3265 .0338 29.5500 29.5500 1.2223 .8148 .8181 …… .. …… .. …… .. .02496 39.735 40.060 1.0496 .9472 .9527

Special Drawing Rights (SDR) are based on exchange rates for the U.S., British, and Japanese currencies. Source: International Monetary Fund. a-Russian Central Bank rate. b-government rate. d-rebased as of Jan. 1, 2005. y-floating rate.

Latest Week

Prev. Week

Yr Ago

1.75

4.75

1.75 4.75

0.25 3.25

1.59 1.28

1.58 0.83

0.10 0.08

1.700 1.670 2.453 2.390 1.65 3.50

1.670 1.640 2.214 2.160 1.26 3.50

0.046 0.045 0.056 0.055 0.04 2.00

1.50 1.70 2.00 2.75

0.12 0.13 0.15 0.20

1.63 2.23 2.87 3.54

1.61 2.10 2.78 3.59

0.10 0.15 0.17 0.25

Canada Germany Japan Switzerland Britain

3.70 0.00 1.475 0.25 1.25

2.45 0.00 1.475 0.00 0.10

Other Money Rates Fannie Mae Home Loan: 30-Year Fixed Conv Bank money market-z Interest Checking-z 6-Month Certif-z 12-Month Certif-z 30 Month Accounts-z 5-Year Certificates-z

5.14 0.09 0.04 0.25 0.37 0.54 0.59

5.23 0.08 0.04 0.22 0.33 0.53 0.56

2.44 0.07 0.03 0.12 0.17 0.17 0.31

0.10

Discount Rate (NY) Prime Rate (base) Fed Funds Rate

Constellation Brands General Mills McCormick & Company Paychex Walgreens Boots Alliance

S&P 500 Index

No Activity for this Week

Latest Report

Date

Construction

American Debt and Deficits

EarningsRelated Time Period

Barron’s 50-Stock Average

Employment

Domestic crude oil, (thous. bbls) Comm. (Excl. Lease Stck) June 17 Orders

Company

Argentina (Peso)-y Australia (Dollar) Bahrain (Dinar) Brazil (Real) Bulgaria (Lev) Canada (Dollar) Chile (Peso) China (Renminbi) Colombia (Peso) Croatia (Kuna) Czech. Rep. (Koruna) Commercial rate Denmark (Krone) EcuadorUS Dollar Egypt (Pound)-y Hong Kong (Dollar) Hungary (Forint) Iceland (Krona) India (Rupee) Indonesia (Rupiah) Israel (Shekel) Japan (Yen) Kazakhstan (Tenge) Kuwait (Dinar) Macau (Pataca) Malaysia (Ringgit)-b Mexico (Peso) Floating rate New Zealand (Dollar) Norway (Krone) Oman (Rial) Pakistan (Rupee) Philippines (Peso) Poland (Zloty) Qatar (Rial) Russia (Ruble)-a Saudi Arabia (Riyal) Singapore (Dollar) South Africa (Rand) South Korea (Won) Sri Lanka (Rupee) Sweden (Krona) Switzerland (Franc) Taiwan (Dollar) Thailand (Baht) Turkey (New Lira)-d Ukraine (Hryvnia) U.K. (Pound) Uruguay (Peso) Financial Euro

Foreign Currency in U.S.$ Last Fri.

Money Rates

158.79 149.40 –0.44

Other Indicators

Inventories

June 17

CBOE

7.80

Source: CCBN, www.ccbn.com

....

Steel, (thous. tons)

New home sales, (thous. units)

S&P 100

Day

Foreign Currency in U.S.$ Fri.

Country

Readings in the CBOE equity put-call ratio of 60:100 and in the S&P 100 of 125:100 are considered bullish, for instance. Bearish signals flash when the equity put-call level reaches the vicinity of 30:100 and the index ratio hits 75:100.

Conference Call Calendar

Pulse of the Economy Only includes new reports.

Foreign Exchange

CBOE Put / Call Ratio vs. S&P 100

19.20

380.91

13.87

23.40

29.52

–19.56

558.40 559.96

314.70

77.44

23.74 18.44

18.15

Year-end earns yield, %

5.42

5.51

Best grade bond yields, %

3.96

Bond yields/stock ylds, %

0.73 229.32

229.32

212.31

8.01

2.23

2.26

1.89

17.92

Actual year-end divs Actual yr-end divs yld, %

35.73 –48.38 2.80

93.71

3.98

1.49

165.77

0.72

0.53

37.20

Coming U.S. Auctions Yields (%) When Issued* Last Auction

Monday $45.0 bil $42.0 bil $46.0 bil $47.0 bil * As of Friday afternoon.

3-month 6-month 2-year 5-year

1.630 2.405 3.051 3.158

1.700 2.453 2.500 2.625

Avg effective offer Avg weekly auction-c T-Bills Rate 13 weeks, Coupon Yield 13 weeks, Auction Rate 26 weeks, Coupon Yield 26 weeks, Auction Rate Avg weekly auction-c Broker Call Rate Bankers Acceptances 1 month 2 months 3 months 6 months Libor Interbank Rate 1 month 3 months 6 months 12 months Foreign Prime Rates

U.S. Savings EE Bonds: Long-Term (5yrs+)

c-Annualized yields, adjusted for constant maturity, reported by the Federal Reserve on a weekly average basis. Sources: Tullett Prebon information, Ltd. Factset. z-Bankrate.com.

BARRON’S

MARKET LABORATORY

D ATA

Barron’s Gold Mining Index 12-Month High Low

1228.34 803.15 Gold mining

Year Ago

Week % Chg.

900.46 1017.63

–10.81

6/23

803.15

6/16

Handy & Harman

B A R R O N S .C O M / D ATA

Dividend Payment Boosts

Weekly Bond Statistics New Offerings, (mil $) (v)

Corporate (z) Municipal (z)

Last Week

Prev. Week

Yr Ago

13,883 2,679

r1,637 r3,631

22,195 13,301

Best Grade Bonds-y

Gold & Silver Prices Gold, troy ounce Silver, troy ounce

6/24

6/17

Year Ago

1825.45 21.22

1841.55 21.69

1786.65 26.06

(Barron's index of 10 high-grade corporate bonds.) 3.96 3.98

1.47

Interm-Grade Bonds-y (Barron's index of 10 medium-grade corporate bonds.) 4.80 5.09

Base for pricing gold and silver contents of shipments and for making refining settlement.

2.54

Confidence Index Coins

Krugerrand Maple Leaf Mexican Peso Austria Crown Austria Phil U.S. Eagles

Price

Premium $

Premium %

1902.68 1920.98 2213.83 1796.28 1920.98 1920.98

73.18 91.48 8.00 3.00 91.48 91.48

4.00 5.00 0.36 0.17 5.00 5.00

Premium is the amount over the value of the gold content in the coin. Source Manfra, Tordella & Brookes, Inc. Bullion spot gold price 1829.5

(High-grade index divided by intermediate-grade index; decline in latter vs. former generally indicates rising confidence, pointing to higher stocks.) 82.6 78.2 57.8 Other Confidence Indicators:

In Hock: Amid recession fears, gold’s price fell 0.9%, to $1,825 an ounce. 30

Company Name-Ticker Symbol (Exchange)

Yield

AFC Gamma-AFCG (Nasdaq) Cadiz Pfd. A-CDZIP (Nasdaq) Cross Timbers Royalty Tr-CRT (NYSE) Darden Restaurants-DRI (NYSE) Eagle Bancorp-EGBN (NCM ) John Wiley & Sons A-WLY (NYSE) John Wiley & Sons B-WLYB (NYSE) Korn Ferry-KFY (NYSE) Kroger Co-KR (NYSE) Matson-MATX (NYSE) Permian Basin Royalty Tr-PBT (NYSE) Permianville Royalty Tr-PVL (NYSE) San Juan Basin Royalty Tr-SJT (NYSE) TIM ADR-TIMB (NYSE) W. P. Carey Inc.-WPC (NYSE) Worthington Industries-WOR (NYSE)

Period

12.3 14.0 6.9 3.9 3.9 3.0 3.0 1.1 2.2 1.7 1.6 8.8 9.6 2.8 5.0 2.8

-10 Barron's Gold Mining Index (803.15)

-20

Date

1.8 % 1.8 65.9 10.0 12.5 0.7 0.7 25.0 23.8 3.3 166.1 40.6 21.6 35.3 0.2 10.7

6-30 7-01 6-30 7-08 7-11 7-06 7-06 7-06 8-15 8-04 6-30 6-30 6-30 6-27 6-30 9-15

6-29 6-30 6-29 7-07 7-08 7-05 7-05 7-05 8-12 8-03 6-29 6-29 6-29 6-24 6-29 9-14

7-15 7-15 7-15 8-01 7-29 7-20 7-20 7-29 9-01 9-01 7-15 7-15 7-15 7-27 7-15 9-29

Payment

Record

Ex-Div

Yield

Period

From

Decrease

Date

MS EM Domestic Debt-EDD (NYSE)

6.2

.07

.09

-22.2 %

6-30

6-29

7-15

(This index includes all publicly issued, fixed-rate, non-convertible, investment-grade, dollar-denominated, SEC-registered corporate debt.) 2871.30 2850.65 3328.91 Ryan Labs Treasury Index (Index of total return from active Treasury notes and bonds. Dec. 31, 1996=100.) 277.12 273.91 316.26

(Index of yields of 20 general obligation municipal bonds.) 3.54 3.57

2.16

(Index of 40 actively-traded tax-exempt bonds; component issues are changed regularly to keep the index a current picture of the market. Source: The Bond Buyer 4.66 4.65 3.42 Stock/Bond Yield Gap-s

Special Dividends

Stock Splits/Dividends Company Name-Ticker Symbol (Exchange)

Record Ex-Div Amount Date Date

Rex American Resources-REX (NYSE) 200% Security Natl Finl Cl A-SNFCA (Nasdaq) 5%

Week’s ExDividend Dates This list includes payouts on common stocks. NYSE

(Difference between yield on highest-grade corporate bonds and yield on stocks on the DJIA.) -1.86 -1.77 0.28 Yield on DJ Equal Weight US Corp Bond Idx: 4.80

4.94

2.29

One week ended Jun 22: Latest Week

Prev. Week Change

Year Ago Change

8,496,150

+6,742

+986,522

2,347

....

3,564 .... 8 -150 38,032 8,900,824 11,041 5,200 51,163 8,986,459 2,277,656 93 758,283 7,435 255,275 48,885 5,838,903 3,147,556 3,403,278

+859 .... +5 -23 +2,439 +7,976 .... .... +14 +7,973 +1,097 -1 +101,413 -183 +11,949 -1,494 +144,371 -136,398 +5,510

+2,968 .... -3 -37 +2,067 +849,802 .... .... +577 +847,297 +99,311 +50 +23,594 +1,734 -44,386 -1,329 +1,507,784 -660,486 -136,941

Latest Month

Prev. Month

Month % Chg.

Year Ago

3,615,400 3,591,400 23,960 5,885,200

3,874,700 3,848,500 26,206 6,134,500

-6.69 -6.68 -8.57 -4.06

3,887,300 3,820,500 66,805 6,042,100

U.S. Gov't securities:

Federal agency secur:

Reserve bank credit: Primary Credit Secondary Credit Seasonal Credit Float Other F.R. Assets Total Fed Credit # Gold stock SDR Certif. Accounts Treas. Curr. Outst. Total Currency in circ Treas. Cash Hldgs Treas. Fed Deposits Foreign Fed Deposits Other Fed Deposits Other FR liab/cap Total factors Reserves F.R. banks Fgn hold U.S. debt

Increase

Adjusted

Federal Reserve Data Bank

Bought outright

From

Q .56 .55 Q .56 .55 M .272187 .164036 Q 1.21 1.10 Q .45 .40 Q .3475 .345 Q .3475 .345 Q .15 .12 Q .26 .21 Q .31 .30 M .091662 .034445 M .045 .032 M .111613 .091781 O .108459 .080137 Q 1.059 1.057 Q .31 .28

Company Name-Ticker Symbol (Exchange)

v-Week ended Thursday. y-Yield to maturity, week ended Thursday. zSource: Refinitiv.*Barclays T-Bond Index discontinued by firm.

Bought outright

Payment

Bloomberg Barclays US Credit

Corp Bonds, (y)

Member Bank Reserve Chgs. (Mil. $)

Ex-Div

Dividend Payment Reductions

Bond Buyer Municipal Bond Index

J A S O N D J F M A M J

Record

(This index measures the performance of fixed-rate, nominal US Treasuries with at least 10 years to maturity. Jan. 1, 1973=100.) 3456.30 3443.81 4275.96

7-29 7-01

8-08 6-30

Pay Date

8-05 7-08

Bond Buyer 20 Bond Index

Handy & Harman Gold Price

Total Reserves: Nonborrowed Res Borrowed Reserves Monetary Base

Adjusted

Bloomberg Barclays US Long Treasury*

Gold Performance

Reserve Aggr (Mil. $) Month Ended April:

June 27, 2022

Tuesday (June 28) Commercial Metals Ecopetrol ADR Northern Oil & Gas

.14 .861 .19

Wednesday (June 29) AXIS Capital Holdings .43 B & G Foods .475 Boyd Gaming .15 Chunghwa Telecom 1.237 CI Financial .141 Deere 1.13 Dillard's .20 Ellington Financial .15 FMC .53 Franklin Resources .29 Granite Construction .13 Humana Inc .788 Illinois Tool Works 1.22 Kennedy-Wilson Holdings.24 Ladder Capital Cl A .22 Lennox International 1.06 National Fuel Gas .475 Nomad Royalty .039 Nucor .50 Nutrien .48 OFG Bancorp .15 Osisko Gold Royalties .043 PermRock Royalty Trust .10 Regal Rexnord .35 REV Group .05 Stantec .139 Stryker Corp .695 Sunlands Technology .63 TC Energy .701 Tecnoglass .065 TFI International .27 Tricon Residential .058 US Bancorp .46 Vermilion Energy .046 Yamana Gold .03 Thursday (June 30) Air Products & Chemicals1.62 American Express .52 Bristol Myers Squibb .54 Cardinal Health .496 Choice Hotels Intl .237 ESAB .05 Genl Dynamics 1.26

Glatfelter .14 Heico Cl A .09 Heico Corp .09 Ingredion .65 Park Aerospace .10 Philip Morris Intl 1.25 Quanta Services .07 Ralph Lauren Cl A .75 Raymond James .34 Republic Services .46 State Street .57 Sysco .49 Wolverine World Wide .10 Friday (July 1) Agilent Technologies Bank Of Nova Scotia Dollar General ESCO Technologies Globe Life Helios Technologies Thor Industries

.21 .801 .55 .08 .207 .09 .43

Saturday (July 2) NONE Sunday (July 3) NONE Monday (July 4) NONE

Week’s ExDividend Dates This list includes payouts on common stocks. NASDAQ Tuesday (June 28) CBTX .13 Flexsteel Industries .15 Ituran Location & Control .14 Mercer International .075 Wednesday (June 29) AFC Gamma .56 Amdocs .395 America First Multifamily .37 America First Multifamily.20 Ameris Bancorp .15 ATN International .17 BancFirst .36 Canterbury Park Holding .07 Chicago Atl Real Est Fin .47 ChipMOS Technologies 2.919 Colliers International .15 CVB Financial .19 Deswell Industries .10 Ensign Group .055 Fifth Third Bancorp .30 First Bancorp NC .22

Company Name-Ticker Symbol (Exchange)

Delek US Hldgs-DK (NYSE) Kenon Holdings-KEN (NYSE) TIM ADR-TIMB (NYSE) FirstService .203 Himax Technologies ADR1.25 INDUS Realty Trust .16 Investar Holding .09 Mondelez Intl Cl A .35 Monolithic Power Sys .75 National Research .24 Primoris Services .06 Steel Dynamics .34 Towne Bank .23 Trinity Capital .42 Trinity Capital .15 Willis Towers Watson .82 Xerox Holdings .25 York Water .195 Thursday (June 30) Andersons .18 ChampionX .075 Consolidated Water .085 Encore Wire .02 Franchise Group .625 Keurig Dr Pepper .188 Morningstar .36 Pegasystems .03 Preformed Line Products .20 Royal Gold .35 Washington Trust Banc .54 Friday (July 1) Werner Enterprises

.13

Saturday (July 2) NONE Sunday (July 3) NONE Monday (July 4) NONE

Week’s ExDividend Dates This list includes payouts on common stocks. NYSE American Tuesday (June 28) NONE Wednesday (June 29) National Healthcare

.57

Thursday (June 30) Acme United

.14

Friday (July 1) NONE Saturday (July 2) NONE Sunday (July 3) NONE Monday (July 4) NONE

Record Ex-Div Amount Date Date

0.20 10.25 0.11

7-12 6-27 6-27

7-11 6-24 6-24

Pay Date

7-20 7-05 7-27

Week’s Dividend Payment This list includes payouts on common stocks. NYSE Monday (June 27) Cato Cl A .17 Ellington Financial .15 Knight-Swift Transport .12 Petroleo Brasileiro A 1.298 Shell ADR .50 Tapestry .25 Telefonica ADR .103 Williams Cos .425 World Wrestling .12 Tuesday (June 28) Ardagh Metal Packaging .10 GAMCO Investors Cl A .04 Shaw Communications B .077 Steris .43 .051 STMicroelectronics UnitedHealth Group 1.65 Wednesday (June 29) Assd Capital Cl A Caleres Camping World Cl A Civitas Resources Civitas Resources Corning Douglas Elliman Goldman Sachs International Seaways Lear Corp ProAssurance PVH Corp. SFL Unifirst Vishay Intertech Voya Financial Winnebago Worthington Industries Wyndham Hotels

.10 .07 .625 .462 .90 .27 .05 2.00 .12 .77 .05 .038 .22 .30 .10 .20 .18 .28 .32

Thursday (June 30) Alamos Gold .025 Allegion .41 Ameren Corp .59 American Intl Group .32 Ametek .22 Arcos Dorados Holdings A .04 Ares Management .61 Becton Dickinson .87 Booz Allen Hamilton Hldg .43 Brookfield Asset Mgmt .14 Brookfield Business .062 Brookfield Infrastructure .36 Brookfield Infrastructure .36 Brookfield Reinsurance .14 Brookfield Renewable .32 Devon Energy .16 Devon Energy 1.11 Dominos Pizza 1.10 Douglas Dynamics .29 EnerSys .175 Entravision Commun .025 EOG Resources 1.80 Eversource Energy .637 Fedl Ag Mtge Corp Cl A .95 Fedl Ag Mtge Corp Cl C .95 Fidelity Ntl Financial .44 Franco-Nevada .32 Garmin .73 GATX .52 Global Indemnity .25 GrafTech International .01

Top 5 Insider Purchases by Company in 2022 Company

Number of Number of Sym Insiders Shares

$ Value

Avg. Price

York Water Modiv B Riley Financial Entera Bio Limited Inotiv

YORW 16 1,093 45,694 MDV 15 20,421 361,266 RILY 13 306,878 16,559,075 ENTX 9 73,832 199,769 NOTV 9 74,374 1,562,288

$41.79 $17.69 $53.96 $2.71 $21.01

Top 5 Insider Sales by Company in 2022 Chevron Mongodb Doordash Moderna Datadog

CVX MDB DASH MRNA DDOG

31 1,942,112301,210,442 $155.09 24 398,845157,355,495 $394.53 22 731,536 75,802,979 $103.62 22 739,461 112,743,173 $152.47 20 587,067 80,794,258 $137.62

Gray Television .08 Gray Television Cl A .08 HCA Healthcare .56 Hess Corp .375 Hillenbrand .218 Horace Mann Educators .32 Huntsman .213 Installed Bldg Products .315 Intercontinental Exch .38 Leidos Holdings .36 M & T Bank 1.20 Martin Marietta .61 Maxar Technologies .01 Mercury General .635 Outfront Media .30 Ovintiv .25 Public Service Enterprise .54 Quanex Building Products .08 RenaissanceRe Hldgs .37 Service Corp Intl .25 Stewart Info Svcs .375 Telephone & Data Sys .18 Trane Technologies .67 Travel + Leisure .40 Travelers Cos .93 Union Pacific 1.30 Vistra .177 Western Union .235 Friday (July 1) Advance Auto Parts 1.50 Albemarle .395 Allstate .85 Alpha Metallurgical Rscs .375 Avangrid .44 Banc of California .06 Baxter International .29 Brown-Forman Cl A .189 Brown-Forman Cl B .189 Cadence Bank .22 Coca-Cola .44 Comerica .68 Curtiss-Wright .19 First Horizon .15 Genuine Parts .895 Greif A .46 Greif B .69 GSK ADR .342 H & R Block .27 Macy's .157 McKesson .47 MDU Resources Group .218 New Jersey Resources .363 NewMarket 2.10 Nike Cl B .305 Orion Engineered Carb .021 PPL Corp .225 Prosperity Bancshares .52 Regions Financial .17 Synovus Financial .34 TEGNA .095 Textron .02 Tredegar .12 UGI .36 Westwood .15 World Fuel Services .12 Saturday (July 2) NONE Sunday (July 3) NONE

Week’s Dividend Payment This list includes payouts on common stocks. NYSE American Monday (June 27) NONE Tuesday (June 28) NONE Wednesday (June 29) B2Gold

.04

Thursday (June 30) Evolution Petroleum Gold Resource Gold Royalty

.10 .01 .01

Friday (July 1) Imperial Oil

.265

Week’s Dividend Payment This list includes payouts on common stocks. NASDAQ Monday (June 27) Amkor Technology CME Group Cl A Victory Capital Cl A Tuesday (June 28) Hanover Bancorp New Fortress Energy

.05 1.00 .25 .10 .10

Wednesday (June 29) CDK Global .15 CSG Systems Intl .265 Gilead Sciences .73 Icahn Enterprises 2.00 Mannatech .20 RCI Hospitality Holdings .05 T Rowe Price Group 1.20 Thursday (June 30) Atrion 1.95 Broadcom 4.10 Citizens Holding .24 Enterprise Fincl Services .22 Epsilon Energy .062 ESSA Bancorp .15 First Guaranty Bcshs .16 Global Water Resources .025 Hooker Furnishings .20 Inter Parfums .50 Investors Title .46 James River Group Hldgs .05 Lancaster Colony .80 Marriott International .30 Marten Transport .06 Methanex .145 Newtek Business Services .75 NorthWestern .63 PepsiCo 1.15 Power Integrations .18 Red Rock Resorts Cl A .25 Renasant .22 Ross Stores .31 Seacoast Banking of FL .17 SpartanNash .21 StepStone Group .20 Summit Financial .18 Universal Display .30 Verisk Analytics .31 Weyco Group .24 Friday (July 1) AAON .19 Automatic Data 1.04 C & F Financial .40 CH Robinson Worldwide .55 Chemung Financial .31 Community Trust Bancorp .40 First Financial Indiana .54 First Fincl Bankshares .17 Hawthorn Bancshares .17 Huntington Bancshares .155 Meta Financial Group .05 Northern Trust .70 NVIDIA .04 Paramount Global Cl A .24 Paramount Global Cl B .24 Phillips Edison .09 Popular Inc. .55 Saga Communications Cl A .20 Stock Yards Bancorp .28 Trustco Bank .35 UMB Financial .37 United Bankshares WV .36 Valley National Bancorp .11 WesBanco .34

Saturday (July 2) NONE

Sunday (July 3) NONE

June 27, 2022

D ATA

MARKET LABORATORY

Week’s New Highs and Lows NYSE

560

New Highs

New Lows

Nasdaq

113

692

New Highs

New Lows

NYSE American

New Highs

New Lows

Only includes COMMON and REIT stocks

NYSE American NEW HIGHS AultDisruptive CompX Intl Envela NEW LOWS AcmeUnited AirIndustries AlexcoRes AvalonHoldings AvinoSilver BallantyneStrong BlonderTongueLab cbdMD Cohen EVI Industries EquinoxGold EvansBancorp ExcellonRes FreshVineWine FuryGoldMines GoldRoyalty IMPAC Mortgage inTEST MastechDigital NavideaBiopharm NewFoundGold NorthernDynasty OceanPwrTech PowerREIT Seaboard SkyHarbour TasekoMines TrinityPlace VizslaSilver XtantMedical Zedge

Nasdaq NEW HIGHS 7GC A 8iAcqn2 ADMA Biologics AequiAcqnA AestherHlthcrA AgileGrowthA arGEN-X AriszAcqnA ASPACIAcqnA AtlCoastal II A BancFirst BankFirst BeliteBio BrooklineCap ByteAcqnA Canna-GlobalA CDK Global CF Acqn VIII A ChainBridgeIA ChefsWarehouse ChinookTherap CitizensFinlSvc

BARRON’S

CleanEarthA ClimateRockA CornerGrowthA CrixusBH3 A Cytokinetics DenaliCapAcqnA DonegalGroup A E.MergeTechA EastRscsAcqnA EnergemA ExcelFinAcqnA FintechEcoA FocusImpact FounderSpacA FoxWayneEntsA Funko GardinerHlthcr GenesisUnicorn GoldenstoneAcqn GoldenSunEduc GoresIX A GroceryOutlet HalladorEnergy HCM Acqn A HuronConsulting InflectionPointA Inter IperionX IsleworthHlth JupiterWellnessA LCattertonA LiAuto LightJumpA LytusTech MeridianBiosci MountainI A NorthMtnA NorthViewAcqn Optinose ParsecCapA PeoplesFinSvcs PhoenixMotor PHP Ventures Points.com ProPhaseLabs Puyi QuickLogic RechargeAcqnA ResourcesConnect RichardsonElec SafetyInsurance SandersonFarms SierraOncology SkydeckAcqnA SummitFin SummitHlthcrA Symbotic Talon1AcqnA TastemakerA TBSA Acqn A TekkorpDigitalAcqn Torm TZP Strategies A UFP Tech

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CodereOnlineLuxem CodexDNA CoffeeHolding CognitionTherap CognyteSoftware ColonyBankcorp ColumbusMcKinn Concentrix ConnexaSports ConstructionPtrs CoreScientific Cortexyme CorvusPharm CosmosHoldings CrackerBarrel CreativeMedTech CryoCellInt Crypto1Acqn CSW Industrials CSX CumulusMedia Cytosorbents Daseke Dave DAVIDsTEA DawsonGeophys DenaliCapAcqnA Denny's DiamedicaTherap Diodes DISH Network DixieGroup DMC Global DreamFinders E-HomeHousehold Eargo Eastern EbangIntl EdibleGarden EducDev ElysGameTech EngineGaming EnstarGroup EnsysceBio EnteraBio EQONEX Equillium EssaPharma Evogene Expedia Eyenovia FarmerBros FedNat FinTechAcqnVI FinWiseBancorp FirstAdvantage FirstCapital FirstHawaiian FirstMerchants FirstMidBcshs FirstNatlVA FirstNWBncp Fluent ForafricGlobal ForwardPharma FranklinWireless Freshpet FSDPharma FusionPharm Gaia GalectinTherap GalmedPharm GauchoGroup GeospaceTech Gevo GlblBlockchain GlobalFoundries GoldenEnt GoldenSunEduc GpoFinGalicia GreatLakesDredge GreenbrookTMS GreenLightBio GreenproCap GromSocialEnts H&E Equipment HallofFameResort HeartTestLabs HelenofTroy Honeywell HothTherap Humacyte HuntingtonBcshs Hut8Mining HVBancorp

B A R R O N S .C O M / D ATA Hyperfine HyreCar IcahnEnterprises iHeartMedia II-VI Illumina IM Cannabis iMediaBrands Incannex InflaRx Infobird InsightEnt InspireMD Inter Interface Inventiva InvoBioScience IperionX Ipsidy Iridex IrisEnergy IronSparkI JackintheBox JasperTherap JerashHldgs JounceTherap KaiserAlum Karooooo KaziaTherap KerosTherap KeyTronic Kidpik LandstarSystem LanternPharma Latch Latham LavaTherap Lazydays Leafly LeeEnterprises LibertySirius A LibertySirius C LibertyTripAdvB LincolnElectric LindbladExped LiqTechIntl LiveVentures LiveVox LixiangEduc LM Funding Locafy LogicMark LongboardPharm Lottery.com LoyaltyVentures LSI Inds ManhattanBridge Mannatech Marchex MasterCraftBoat MatthewsIntl MawsonInfr MaxLinear MedalistDivREIT Mediaco MeliKaszek MercurityFintech MetaPlatforms Middleby Mind CTI MindMed MKS Instrum ModivCare Momentive MotorcarParts NantHealth NatlCineMedia NatlEnerSvs NatlInstruments NatureSunshine NavitasSemi NeptuneWellness NeuBaseTherap NeuroPace NewsCorp A NewsCorp B NewtekBusSvcs NextNav NMI Holdings Nordson NorthernLightsA NorwoodFin Novonix Nutriband

Nuvei NuvveHolding NuZee NXP Semi Nyxoah ODP Oncocyte OneSpaWorld Opera OPKO Health OportunFin OrbitalEnergy Organovo OrionEnergySys OrthofixIntl OtonomoTech OysterPtPharma PanAmerSilver PanbelaTherap PardesBiosci PatrickIndustries PatriotTransport PAVmed PerformShipping PinnacleFinPtrs Pixelworks PLBY Group PolarityTE Pool PorchGroup PotlatchDelt PremierFinl PriorityTechn ProfDiversity PurpleBiotech Qualcomm Quantum-Si QuestResource QuoinPharm Quotient RailVision RCI Hospitality RedViolet Reed's ReWalkRobotics RGC Resources RhinebeckBncp RigettiComp RockwellMedical Rover RunwayGrowthFin SAB Biotherap Safe-T Saia SalisburyBancorp SarcosTech&Robotic SchnitzerSteel Science37 ScrippsEW Seagate SeanergyMaritime SenstarTech ServiceProperties SharpsCompliance ShoeCarnival Shyft SiebertFin SilverSpikeInvt SimmonsFirstNat SkylightHealth SleepNumber SmartPowerr SmileDirectClub Smith&Wesson SmithMicro SocietalCDMO SolGelTech Soluna Sonder SoundFinBancorp Sportradar SpringBig Stericycle StitchFix SuperLeagueGam Surgalign Taboola TalisBiomed TaskUs TDH TenaxTherap TeraWulf ThermoGenesis ThredUp TileShop

TOP Ships ToughBuiltInds TripAdvisor TriumphBancorp trivago Tucows TurtleBeach TwinDisc TwinVee TyraBiosciences UFP Inds UniversePharm UnivStainless US Gold UtahMedProducts ValleyNatlBncp Vaxxinity VeecoInstr VelodyneLidar VenusConcept VerifyMe VersaBank VicinityMotor VillageBank&Tr VincerxPharma VirTra WaveDancer WISeKey Workday WynnResorts XortxTherap Yoshitsu Zenvia ZimVie Zumiez NYSE NEW HIGHS AP Acqn A AtlStreetAcqn BristolMyers CatchaInvtA CedarRealty ClassAccelA D&ZMediaA EncompassHlthWi Enhabit EverestConsolidA FTI Consulting FortressCapA G&P Acqn A GoAcqnA GigCapital5 GoldenFalconA GroveCollab HPX A InFinTAcqnA KnightSwanA EliLilly MissionAdvA NL Industries PMV Consumer PontemA PrimaveraCapA PrimeImpactI A Renren ScorpioTankers StoneMor Supernova III A TrecoraRscs TrineIIAcqnA TwinRidgeCapA W.P.Carey WhiteMtnIns NEW LOWS ABB ADT AGCO a.k.a.Brands AZZ Aaron's AcadiaRealty AcuityBrands AdvDrainageSys AgilentTechs Alexanders Allegion AltaEquipment Altria AmbrxBio APi Group ArcelorMittal ArmstrongWorld

AssociatedBanc Atlas Atotech Audacy Avaya Avient AzurePowerGlbl BitMining BRC Bally's Bladex BancoMacro BankofMontreal BkNovaScotia BankUnited Bath&BodyWks BauschHealth BaxterIntl BerkHathwy A BerkHathwy B BigBear.ai BiglariA BostonProps BoydGaming Braskem BreadFinancial BridgeInvt BrinkerIntl Bristow BroadridgeFinl BrookfieldMgt CBD Pao CNH Indl CRH CadenceBank CIBC CarrierGlobal Caterpillar Cazoo CedarFairRec Celanese CementosPacasm ChathamLodging ChinaGreenAg ChoiceHotels Cleveland-Cliffs CiaSiderurgica CerveceriasUnid Conmed Constellium CoreLabs CreditSuisse CrestwoodEquity CrownHoldings Culp Cummins DRDGOLD DaVita Deere Denbury DeutscheBank DiamndrckHspty DineBrands Disney Dole Doma Donaldson DouglasEmmett Dover Dow DuPont EMCOR ESAB EagleMaterials Eaton Ecopetrol ElancoAnimal EldoradoGold ElementSolns EmersonElec EncompassHealth EncompassHlthWi EnelChile EnerSys Enhabit Enovis EnzoBiochem EroCopper ExcelerateEner Express FathomDigital FederalRealty FinanceofAm First HS Educ FirstIndRlty

FomentoEconMex FortBrandsHome FreeportMcM FreseniusMed FullerHB GMS GXO Logistics Gannett Gap GatesIndustrial Gelesis GeneralElec Gerdau GrafTechIntl Graham GrayTelevision Greenbrier GpoAvalAcc HavertyFurn HeclaMining Heico A HeliosTech HercHoldings HiltonGrandVac Hilton HollyEnergy HomeDepot Hovnanian HudbayMinerals HudsonPacProp INNOVATE IamGold IngersollRand Innovid InstalledBldg InterContinentl IntlPaper JELD-WEN JPMorganChase JohnsonControls JupaiHoldings KB Fin Kaman Kemper Kennametal KeyCorp KinrossGold KoninklijkePhil KoreaElcPwr KukeMusic Kyndryl LG Display LincolnNational LionElectric loanDepot LomaNegra LouisianaPacific Lowe's Luxfer LyondellBasell MGM Resorts MSA Safety MSC Industrial MSG Entertainment Manitowoc MarriottVacations MartinMarietta Masco MasoniteIntl MayvilleEngg MettlerToledo MicroFocus MillerIndustries MineralsTechs MorganStanley Natura&Co NaviosMaritime Neenah NewYorkCityReit NexaResources NexGenEnergy NouveauMonde NuSTAREnergy OceaneeringIntl Offerpad Omnicom OnionGlobal OrionEngCarbons Oshkosh OsiskoDevelopment PGT Innovations POSCO ParkHotels PebblebrookHotel

PA Reit Pentair PlayAGS PrimoWater QuadGraphics QuanergySystems RLJ Lodging RPTRealty Ranpak RayonierAdvMatls Redwire RegalRexnord ResideoTech RobertHalf Rockwell RoyalBkCanada RymanHospitality SLGreenRealty SOS Safehold SandbridgeX2 SchweitzerMaud ScottsMiracleGro SeabridgeGold ShinhanFin Sibanye-Stillwater SilvergateCapital SkeenaRscs Skillsoft SmithAO Sonendo SoCopper St.Joe StandexInt StanleyBlackDck StifelFinancial STMicroelec Stryker SturmRuger SummitHotelProp SummitMaterials SummitMidstream SunstoneHotelInv Sweetgreen SynchronyFin TaiwanSemi Tecnoglass TelecomArgentina Terex 3M Timken TopBuild Toro Torrid TownsquareMedia TransUnion Travel+Leisure Tredegar TriumphGroup Tronox US Xpress UnderArmour A UnderArmour C UnitedMicro UnitedRentals UpHealth VTEX Vectrus VerticalAerospace VirnetX Vishay VishayPrecision VistaOutdoor VivintSmartHome VoyaFinancial VulcanMatls WPP WarbyParker WashingtonREIT Watsco B WeaveComms WebsterFin WestRock Westwood WideOpenWest Wiley A Wiley B WorldFuelSvcs WorthingtonInds WyndhamHtls XPO Logistics XeniaHotels YPF ZetaGlobal ZimmerBiomet

BARRON’S

June 27, 2022

O T H E R VO I C E S

Abortion is only one of many conflicts companies now face as they defend themselves from conservative accusations they’ve gone “woke.”

Roe Repeal Will Test Equal Employee Treatment

n striking down Roe v. Wade, the Supreme Court held that “the authority to regulate abortion is returned to the people and their elected representatives.” Companies will have a say, too. In the run-up to the ruling, scores of companies committed to covering expenses for women employees’ travel out of state to receive abortions. Even though the court ruling now allows states to set their own abortion laws, companies that operate in multiple states have decided their health plans won’t treat their employees differently depending on where they live. So, they will maintain equal coverage to all their employees, no matter what state they live in—as they do for other medical procedures. Roe provided for equality of access to abortion across the country. Companies are now stepping in to fill the government void the court has created. Making it a matter of employee healthcare policy is good cover to avoid taking a moral stand on abortion itself and may work for a while. Citigroup CEO Jane Fraser, for one, said the bank’s decision to pay for abortion procedures out of state wasn’t political. Instead, it follows a 20-year practice of covering reproductive healthcare benefits and “making sure our employees have the same health coverage no matter where in the U.S. they live, she said. Tesla put the clause in its impact report. It offers “an expanded safetynet program and health insurance offering that includes travel and lodging support for those who may need to

By Laurie Hays

seek healthcare services that are unavailable in their home state.” Twenty-six American states are poised to ban or severely restrict abortion with Roe overturned. There are about 33 million women of childbearing age who could face logistical nightmares and increased health risks, as well as expenses, if they have to go out of state for abortions. To be sure, a lot of time and money will now be spent arguing about the legal grounds protecting companies’ decisions to cover the cost to travel out of states that forbid abortions. Travel benefits “raise complex legal issues applicable to employers’ group health

plans and fringe benefit plans,” the National Law Review notes.

ederal regulations don’t compel companies to offer identical healthcare benefits to employees who live in different states, says Phyllis Borzi, a former official at the U.S. Department of Labor. There are some restrictions on the treatment of retirement plans, “but there are no similar rules covering health plans,” Borzi says. Companies could test out a new body of law, if they have the stomach for it. State legislators are likely to retaliate. Briscoe Cain, a Republican Texas state legislator, warned Citigroup in March that he would introduce a bill to prevent the bank from underwriting municipal bonds in the state unless it rescinded its abortion travel policy. Companies wanting to pay for travel will have to decide how far they’re willing to go to support their employees. Some states, including Texas and Missouri, are threatening criminal penalties for aiding and abetting women who go out of state for abortions and prosecuting them when they return.

Public companies, since the murder of George Floyd and before that the rise of #MeToo, have done a lot of work to put their cultures in order. The underlying mandate employees and stakeholders have put forward includes diversity, equal treatment and pay regardless of gender and race, respect, transparency, and accountability. Equal access to abortions fits squarely into this category. But abortion is only one of many conflicts companies now face as they defend the new employee handbook from conservative accusations they’ve gone “woke.” Texas and Florida have lured significant numbers of companies to relocate with attractive tax rates. They’re also trying to destabilize the socialpurpose commitments companies have spent years trying to live up to. Recently the Texas GOP, which controls both houses, adopted a platform that rejects the 2020 election results, calls to repeal that 1965 Voting Rights Act passed to end racial discrimination at the polls, and describes homosexuality as an abnormal lifestyle choice. Texas has successfully attracted 53 of the Fortune 500 to headquarter in the state by offering lower taxes than California and cheaper living for employees. Austin during the pandemic welcomed more Bay area residents than any other region outside of Texas during the pandemic, earning it the nickname Silicon Valley 2.0. “For a public company with a fiduciary responsibility to shareholders, the allure is substantial,” Texas economist Ray Perryman told the Dallas Morning News last year, after the state passed a restrictive new abortion law. Companies that have been arguing their responsibilities go beyond just shareholders will have to decide whether they want to put their money where their mouth is—or at least where their tax base is. Companies that stay and stand their ground will help at least some women in Texas. But not all. B Laurie Hays is the founder of Laurie Hays & Associates, a communications advisory firm.

Illustration by Tiffany Pai

June 27, 2022

MAILBAG

BARRON’S

Send letters to [emailprotected]. To be considered for publication, correspondence must bear the writer’s name, address, and phone number. Letters are subject to editing.

dence that things will improve, and to put cash to work in a gradual and planned manner. Indeed, it’s from points like this that real money is eventually made by long-term investors. John Fischer On Barrons.com

A Moment Made for Brave Traders To the Editor: While the amateurs are mulling whether things could get worse in the short term, I am going to keep buying all the way down (“The Stock Market’s Selloff Will Eventually End. Bet On It,” The Trader, June 17). And if this becomes a protracted bear market, I am going to pick up a second job so I can invest every dollar possible into best-of-breed companies with long runways for growth at fire-sale valuations. Chris Bentsen On Barrons.com To the Editor: Wait for insiders to start buying on the open market. This is usually a good indicator that the bottom is near. Especially watch for the chief financial officer. Praveen Chawla On Barrons.com To the Editor: Bear markets should be welcomed. This is the time to think about the future with greater investment confi-

To the Editor: The question is, does the selloff get messy from here, or do we start to find a low? I personally think that while the Fed has its back against the wall, some (but not all) inflation reads will likely start to ease. If that starts happening, it’s unlikely to get messy. But if we see another three to four months of terrible inflation numbers, then yep—its going to get messy! So now probably isn’t the right time to be buying. You really need to wait three to four months, and then you will know. Alexander Beer On Barrons.com To the Editor: Remember, the big unknown is Russian President Vladimir Putin. What if he lobs a nuke at Poland or does a decapitation cyberstrike against the cloud infrastructure here in the U.S.? We are in deep. This is unlike any other selloff. Europe is sliding into deeper recession concerns, and it won’t be that long before Europeans realize they can’t store enough fuel for the winter. We’re all in it together. But will we ban the export of natural gas and crude here in the U.S. to the detriment of the Europeans? Can the stock market exist in a void, unaffected by all of these outside variables? James D. Richardson On Barrons.com To the Editor: Let’s face it, none of us can predict the future. Some will be lucky with their hunches. But be careful of overconfidence. At the age of 72, I’ve been investing for a while, and I don’t recall an environment as difficult as the one we’re all living in now. The future will be different from the past. William Fink On Barrons.com

Face Economic Facts To the Editor: Let’s hope that President Joe Biden and members of Congress read this interview (“‘We Are Still Headed for a Pretty Hard Landing,’ Ex-Treasury Secretary Larry Summers Says,” Interview, June 16). The first step is accepting that this is a man-made problem, and that the expert class in Washington, D.C., is fallible and prone to mistakes of enormous magnitude affecting all Americans. A little humility would help, but that’s in scarce supply in the hallowed halls of government. John McGinty On Barrons.com To the Editor: Summers is about the only one on the left making any sense lately. Also, much credit to him for being one of the few in the economic world stating facts about inflation. It’s not easy to be in the vast minority telling the truth, but it’s important work that more people have to do. Jeff Capell On Barrons.com

Crypto Caveat To the Editor: At this point, cryptocurrencies are the equivalent of an enigma wrapped in a mystery that will leave holders in the hoping stage—not generally a winning strategy (“‘Crypto Winter’ Could Become ‘Crypto Hell,’” June 17). Between Celsius, Finbox, and Babel all suspending withdrawals, the lack of regulation which leaves investors in the dark, and the breakdown of Terra and

The Readback, a podcast taking you inside the latest stories, is available wherever you listen to podcasts.

Luna, it should be clear serious fissures are evident in the crypto foundation. It reminds me of a large building on weak footing; small cracks turn into larger ones and eventually lead to a collapse. The outlook for crypto is, at best, very cloudy but could rapidly deteriorate from there. Caveat emptor. Robert M. Sussman Paradise Valley, Ariz.

Women Take Charge To the Editor: The increased involvement of women in their family finances is good news (“More Women Are Taking Charge of Their Finances,” Top 100 Women Financial Advisors, June 17). Now let’s start requiring financial literacy for high school and university students, and maybe we can jump-start the end of economic inequality in America. Martin Kubalanza On Barrons.com

Ford vs. GM Payouts To the Editor: In regards to “Both Ford and GM Halted Their Dividends During the Pandemic. Why Only One Has Brought It Back” (Income Investing, June 16), paying dividends disciplines the executive suite to share the fruits of its management with current shareholders, whereas stock buybacks disproportionately benefit the executive suite due to stock options, which are a long-term detriment to shareholders. Not surprisingly, Ford’s family shareholders demand the fairer treatment. Wayne Hartman On Barrons.com

“[I]t’s from points like this that real money is eventually made by longterm investors.” John Fischer, on Barrons.com

M W L C 10 11 12 H G R P

BARRON’S

June 27, 2022

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