ETF Risk Report: IWL Buyer beware: Every ETF holds the full risk of its underlying equities Disclosures in the best interest of investors iShares Russell Top 200 ETF Gray Swan Event Risks exist for every equity held by IWL. Gray swan events include accounting fraud, management failures, failed internal controls, M&A problems, restatements, etc. These risks occur infrequently, but Gray Swan Event Factor for IWL 1.09% consistently for all equities. Equities account for 95.94% of IWL’s assets. Most investors ignore these risks until after they are disclosed; whereupon a stock’s price drops precipitously. Just as insurance companies can predict likely costs for a driver’s future car accidents based on the driver’s history, Watchdog Research contacts each ETF asking how they notify investors about we predict the likely cost (price drop) for IWL following accounting governance risks in equities in their fund. We will publish their response gray swan disclosures within its holdings. The expected when received. price decrease across the IWL equity portfolio is 1.09%. However, individual equity risks vary signi cantly. This report helps investors know their risk exposure.
Inception Date: 09/22/2020 Year-to-Date Return: 5.26% The iShares Russell Top 200 ETF tracks the investment results of the Russell Top 200 Index,a oat-adjusted Net Assets: $866m 1-Year Return: 56.18% capitalization-weighted index of large-capitalization U.S. equities, the 200 largest issuers in the Russell 3000 Index, Price: $94.73 3-Year Return: 18.08% representing 67% of its market capitalization. The Fund Net Asset Value (NAV): $94.64 5-Year Return: 17.19% uses a passive or indexing approach and invests by sampling the Index, holding a collection of securities that Net Expense Ratio: 0.15% Yield: 1.28% approximates the full Index in key investment characteristics (such as market capitalization and As of: 03/31/2021 industry weightings), fundamentals (such as return variability and yield), and liquidity.
Company Ticker Held Current GSEF Category Value Top Holdings by Value
Apple Inc. AAPL Long 1.20% Low $68m This table shows Gray Swan Event Factors for the top ten equity holdings by dollar-value, as of Sep 17, 2021. Microsoft Corp. MSFT Long 0.97% Low $64.5m Investors should invest in ETFs only when they adequately Amazon.Com Inc. AMZN Long 0.77% Low $47.2m understand an ETF’s risks. Buyer beware. ETF prospectuses generally acknowledge that ETF managers Facebook Inc. FB Long 0.47% Low $26.3m do NO traditional risk analysis on equities in their fund. Alphabet Inc. GOOGL Long 0.46% Low $23.2m Our Gray Swan Event Factors are meant to inform investors of signi cant traditional accounting and Alphabet Inc. GOOG Long 0.46% Low $22.5m managerial risks for the equities in each ETF.
Tesla, Inc. TSLA Long 0.89% Low $16.7m ETF Risk Reports are published quarterly on dedicated Berkshire Hathaway ... BRKB Long 0.38% Low $16.5m platforms like Factset, Re nitiv, Capital IQ etc. Weekly updates are available for a paid subscription. Nvidia Corp. NVDA Long 0.98% Low $15.1m For more details contact: [email protected] Jpmorgan Chase & Co. JPM Long 1.04% Low $14.8m
Company Ticker Held Current GSEF Category Value Riskiest Holdings
Baxter Internationa... BAX Long 4.92% Mid $1.28m This table shows the individual Gray Swan Event Factors for this ETF’s most at-risk equities as of Sep 17, 2021. Thermo Fisher Scien... TMO Long 3.69% Mid $6.27m The average equity GSEF across 6,500 public equities is Twilio Inc. TWLO Long 3.66% Mid $2.02m 1.25%. Equities with a GSEF between 5% and 10% are considered high risk. Equities with a GSEF above 10% are Merck & Co., Inc. MRK Long 3.34% Mid $6.23m extreme risks. Gray Swan Event Factors are derived from skilled analysts P zer Inc. PFE Long 3.27% Mid $6.91m charting 15 years of negative gray swan event disclosures Mondelez Internatio... MDLZ Long 3.24% Mid $2.75m against stock price declines following such disclosures. A Gray Swan Event Factor is an assessment of the Zoom Video Communic... ZM Long 3.10% Mid $2.61m likelihood of, and 12-month price risk for, gray swan Biogen Inc. BIIB Long 3.04% Mid $1.64m events for each equity.
Eli Lilly And Company LLY Long 2.99% Mid $6.15m
Uber Technologies, ... UBER Long 2.93% Mid $2.56m
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 This table lists the equity holdings for iShares Russell Top 200 ETF ranked by highest GSE Factor (riskiest rst). We list all equities (US and foreign) for this ETF. However, some foreign listings only show via a ticker.
To further evaluate risks, you can access details for each company by opening its Brief Watchdog Report available for viewing and pdf download. The report is free to readers for their personal consumption and it includes the executive summary data pulled from the full Watchdog Report.
To learn more about the full Watchdog and GSEF Reports go to last page or visit watchdogresearch.com.
Company Access Details Ticker Held Current GSEF Category Value
Baxter International Inc. Watchdogresearch.com/watchdog/$BAX BAX Long 4.92% Mid $1.28m
Thermo Fisher Scienti c Inc. Watchdogresearch.com/watchdog/$TMO TMO Long 3.69% Mid $6.27m
Twilio Inc. Watchdogresearch.com/watchdog/$TWLO TWLO Long 3.66% Mid $2.02m
Merck & Co., Inc. Watchdogresearch.com/watchdog/$MRK MRK Long 3.34% Mid $6.23m
P zer Inc. Watchdogresearch.com/watchdog/$PFE PFE Long 3.27% Mid $6.91m
Mondelez International, Inc. Watchdogresearch.com/watchdog/$MDLZ MDLZ Long 3.24% Mid $2.75m
Zoom Video Communications, Inc. Watchdogresearch.com/watchdog/$ZM ZM Long 3.10% Mid $2.61m
Biogen Inc. Watchdogresearch.com/watchdog/$BIIB BIIB Long 3.04% Mid $1.64m
Eli Lilly And Company Watchdogresearch.com/watchdog/$LLY LLY Long 2.99% Mid $6.15m
Uber Technologies, Inc. Watchdogresearch.com/watchdog/$UBER UBER Long 2.93% Mid $2.56m
Allstate Corp. Watchdogresearch.com/watchdog/$ALL ALL Long 2.72% Mid $1.23m
Visa Inc. Watchdogresearch.com/watchdog/$V V Long 2.70% Mid $12.5m
Abbott Laboratories Watchdogresearch.com/watchdog/$ABT ABT Long 2.54% Mid $6.37m
Philip Morris International Inc. Watchdogresearch.com/watchdog/$PM PM Long 2.44% Mid $4.88m
Monster Beverage Corp. Watchdogresearch.com/watchdog/$MNST MNST Long 2.42% Mid $1.06m
Johnson & Johnson Watchdogresearch.com/watchdog/$JNJ JNJ Long 2.34% Mid $13.7m
Zoetis Inc. Watchdogresearch.com/watchdog/$ZTS ZTS Long 2.31% Mid $2.8m
Regeneron Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$REGN REGN Long 2.30% Mid $1.77m
Bristol Myers Squibb Co. Watchdogresearch.com/watchdog/$BMY BMY Long 2.24% Mid $4.72m
Raytheon Technologies Corp Watchdogresearch.com/watchdog/$RTX RTX Long 2.17% Mid $4.09m
Gilead Sciences Inc. Watchdogresearch.com/watchdog/$GILD GILD Long 2.15% Mid $2.73m
Altria Group, Inc. Watchdogresearch.com/watchdog/$MO MO Long 2.11% Mid $2.79m
Amgen Inc. Watchdogresearch.com/watchdog/$AMGN AMGN Long 2.07% Mid $4.43m
Lockheed Martin Corp. Watchdogresearch.com/watchdog/$LMT LMT Long 1.99% Low $2.96m
Exxon Mobil Corp. Watchdogresearch.com/watchdog/$XOM XOM Long 1.82% Low $8.45m
Conocophillips Watchdogresearch.com/watchdog/$COP COP Long 1.81% Low $2.6m
Dupont De Nemours, Inc. Watchdogresearch.com/watchdog/$DD DD Long 1.76% Low $1.3m
Cisco Systems, Inc. Watchdogresearch.com/watchdog/$CSCO CSCO Long 1.76% Low $7.08m
Vertex Pharmaceuticals Inc. Watchdogresearch.com/watchdog/$VRTX VRTX Long 1.75% Low $1.65m
Nxp Semiconductors N.V. Watchdogresearch.com/watchdog/$NXPI NXPI Long 1.71% Low $1.79m
Intel Corp. Watchdogresearch.com/watchdog/$INTC INTC Long 1.66% Low $7.17m
Danaher Corp. Watchdogresearch.com/watchdog/$DHR DHR Long 1.63% Low $5.38m
Qualcomm Inc. Watchdogresearch.com/watchdog/$QCOM QCOM Long 1.59% Low $5.1m
Align Technology Inc. Watchdogresearch.com/watchdog/$ALGN ALGN Long 1.58% Low $1.52m
Estee Lauder Companies Inc. Watchdogresearch.com/watchdog/$EL EL Long 1.57% Low $2.3m
Kraft Heinz Co. Watchdogresearch.com/watchdog/$KHC KHC Long 1.57% Low $868k
3m Co. Watchdogresearch.com/watchdog/$MMM MMM Long 1.56% Low $3.63m
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Eaton Corp. Plc Watchdogresearch.com/watchdog/$ETN ETN Long 1.55% Low $1.86m
Boeing Co. Watchdogresearch.com/watchdog/$BA BA Long 1.49% Low $4.06m
General Motors Co. Watchdogresearch.com/watchdog/$GM GM Long 1.47% Low $2.57m
Nike Inc. Watchdogresearch.com/watchdog/$NKE NKE Long 1.45% Low $6.05m
Ford Motor Co. Watchdogresearch.com/watchdog/$F F Long 1.45% Low $1.84m
International Business Machines Corp. (Ibm) Watchdogresearch.com/watchdog/$IBM IBM Long 1.43% Low $4.14m
Colgate Palmolive Co. Watchdogresearch.com/watchdog/$CL CL Long 1.43% Low $2.15m
Stryker Corp. Watchdogresearch.com/watchdog/$SYK SYK Long 1.37% Low $2.86m
Sherwin Williams Co. Watchdogresearch.com/watchdog/$SHW SHW Long 1.35% Low $2.1m
General Electric Co. Watchdogresearch.com/watchdog/$GE GE Long 1.30% Low $3.72m
Las Vegas Sands Corp. Watchdogresearch.com/watchdog/$LVS LVS Long 1.27% Low $550k
Moderna, Inc. Watchdogresearch.com/watchdog/$MRNA MRNA Long 1.27% Low $2.51m
Chevron Corp. Watchdogresearch.com/watchdog/$CVX CVX Long 1.26% Low $6.41m
Morgan Stanley Watchdogresearch.com/watchdog/$MS MS Long 1.24% Low $4.02m
Activision Blizzard, Inc. Watchdogresearch.com/watchdog/$ATVI ATVI Long 1.24% Low $2.33m
Procter & Gamble Co. Watchdogresearch.com/watchdog/$PG PG Long 1.23% Low $10.4m
Apple Inc. Watchdogresearch.com/watchdog/$AAPL AAPL Long 1.20% Low $68m
Intuitive Surgical Inc. Watchdogresearch.com/watchdog/$ISRG ISRG Long 1.20% Low $3.43m
Emerson Electric Co. Watchdogresearch.com/watchdog/$EMR EMR Long 1.19% Low $1.81m
Marriott International Inc. Watchdogresearch.com/watchdog/$MAR MAR Long 1.19% Low $1.16m
Humana Inc. Watchdogresearch.com/watchdog/$HUM HUM Long 1.12% Low $1.8m
Northrop Grumman Corp. Watchdogresearch.com/watchdog/$NOC NOC Long 1.12% Low $1.73m
T Mobile Us, Inc. Watchdogresearch.com/watchdog/$TMUS TMUS Long 1.12% Low $2.7m
Broadcom Inc. Watchdogresearch.com/watchdog/$AVGO AVGO Long 1.11% Low $6.02m
Sysco Corp. Watchdogresearch.com/watchdog/$SYY SYY Long 1.10% Low $1.2m
Wells Fargo & Company Watchdogresearch.com/watchdog/$WFC WFC Long 1.10% Low $5.92m
Vmware, Inc. Watchdogresearch.com/watchdog/$VMW VMW Long 1.09% Low $410k
Medtronic Plc. Watchdogresearch.com/watchdog/$MDT MDT Long 1.09% Low $5.27m
Ross Stores Inc. Watchdogresearch.com/watchdog/$ROST ROST Long 1.08% Low $1.37m
Advanced Micro Devices Watchdogresearch.com/watchdog/$AMD AMD Long 1.08% Low $3.59m
Goldman Sachs Group Inc. Watchdogresearch.com/watchdog/$GS GS Long 1.08% Low $3.96m
Hca Healthcare, Inc. Watchdogresearch.com/watchdog/$HCA HCA Long 1.07% Low $1.7m
Caterpillar Inc. Watchdogresearch.com/watchdog/$CAT CAT Long 1.06% Low $3.77m
Edwards Lifesciences Corp. Watchdogresearch.com/watchdog/$EW EW Long 1.06% Low $2.02m
Micron Technology Inc. Watchdogresearch.com/watchdog/$MU MU Long 1.05% Low $3.01m
Roper Technologies Inc. Watchdogresearch.com/watchdog/$ROP ROP Long 1.05% Low $1.56m
Jpmorgan Chase & Co. Watchdogresearch.com/watchdog/$JPM JPM Long 1.04% Low $14.8m
Cvs Health Corp. Watchdogresearch.com/watchdog/$CVS CVS Long 1.04% Low $3.47m
Coca Cola Co. Watchdogresearch.com/watchdog/$KO KO Long 1.03% Low $6.64m
L3harris Technologies, Inc. Watchdogresearch.com/watchdog/$LHX LHX Long 1.03% Low $1.4m
Constellation Brands, Inc. Watchdogresearch.com/watchdog/$STZ STZ Long 1.01% Low $1.19m
Pepsico Inc. Watchdogresearch.com/watchdog/$PEP PEP Long 1.01% Low $6.47m
Kimberly Clark Corp. Watchdogresearch.com/watchdog/$KMB KMB Long 1.01% Low $1.43m
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Citigroup Inc. Watchdogresearch.com/watchdog/$C C Long 1.00% Low $4.62m
Centene Corp. Watchdogresearch.com/watchdog/$CNC CNC Long 0.99% Low $1.33m
Nvidia Corp. Watchdogresearch.com/watchdog/$NVDA NVDA Long 0.98% Low $15.1m
Microsoft Corp. Watchdogresearch.com/watchdog/$MSFT MSFT Long 0.97% Low $64.5m
Kla Tencor Corp. Watchdogresearch.com/watchdog/$KLAC KLAC Long 0.95% Low $1.57m
Kinder Morgan, Inc. Watchdogresearch.com/watchdog/$KMI KMI Long 0.94% Low $1.12m
Walmart Inc. Watchdogresearch.com/watchdog/$WMT WMT Long 0.94% Low $6.4m
Keurig Dr Pepper Inc. Watchdogresearch.com/watchdog/$KDP KDP Long 0.93% Low $777k
Progressive Corp. Watchdogresearch.com/watchdog/$PGR PGR Long 0.92% Low $1.81m
Air Products & Chemicals Watchdogresearch.com/watchdog/$APD APD Long 0.92% Low $2.01m
Abbvie Inc. Watchdogresearch.com/watchdog/$ABBV ABBV Long 0.92% Low $6.29m
Moodys Corp. Watchdogresearch.com/watchdog/$MCO MCO Long 0.92% Low $1.86m
Lam Research Corp. Watchdogresearch.com/watchdog/$LRCX LRCX Long 0.91% Low $2.93m
Dell Technologies Inc. Watchdogresearch.com/watchdog/$DELL DELL Long 0.91% Low $869k
Illinois Tool Works Inc. Watchdogresearch.com/watchdog/$ITW ITW Long 0.90% Low $2.22m
Tesla, Inc. Watchdogresearch.com/watchdog/$TSLA TSLA Long 0.89% Low $16.7m
American Electric Power Co. Inc. Watchdogresearch.com/watchdog/$AEP AEP Long 0.89% Low $1.34m
Johnson Controls International Plc. Watchdogresearch.com/watchdog/$JCI JCI Long 0.87% Low $1.55m
Global Payments Inc. Watchdogresearch.com/watchdog/$GPN GPN Long 0.87% Low $1.74m
Applied Materials Inc. Watchdogresearch.com/watchdog/$AMAT AMAT Long 0.87% Low $4.12m
Square, Inc. Watchdogresearch.com/watchdog/$SQ SQ Long 0.86% Low $3.01m
Dow Inc. Watchdogresearch.com/watchdog/$DOW DOW Long 0.86% Low $1.49m
Honeywell International Inc. Watchdogresearch.com/watchdog/$HON HON Long 0.85% Low $4.82m
Walgreens Boots Alliance, Inc. Watchdogresearch.com/watchdog/$WBA WBA Long 0.85% Low $1.19m
Deere & Co. Watchdogresearch.com/watchdog/$DE DE Long 0.84% Low $3.14m
Starbucks Corp. Watchdogresearch.com/watchdog/$SBUX SBUX Long 0.84% Low $4.17m
Ebay Inc. Watchdogresearch.com/watchdog/$EBAY EBAY Long 0.82% Low $1.51m
General Dynamics Corp. Watchdogresearch.com/watchdog/$GD GD Long 0.80% Low $1.5m
Bank Of New York Mellon Corp. Watchdogresearch.com/watchdog/$BK BK Long 0.79% Low $1.3m
Csx Corp. Watchdogresearch.com/watchdog/$CSX CSX Long 0.79% Low $2.3m
Adobe Inc. Watchdogresearch.com/watchdog/$ADBE ADBE Long 0.79% Low $8.84m
Amazon.Com Inc. Watchdogresearch.com/watchdog/$AMZN AMZN Long 0.77% Low $47.2m
Texas Instruments Inc. Watchdogresearch.com/watchdog/$TXN TXN Long 0.75% Low $5.62m
Metlife Inc. Watchdogresearch.com/watchdog/$MET MET Long 0.74% Low $1.4m
Charter Communications, Inc. Watchdogresearch.com/watchdog/$CHTR CHTR Long 0.73% Low $3m
Intuit Inc. Watchdogresearch.com/watchdog/$INTU INTU Long 0.73% Low $3.95m
Unitedhealth Group Inc. Watchdogresearch.com/watchdog/$UNH UNH Long 0.72% Low $11.9m
At&T Inc. Watchdogresearch.com/watchdog/$T T Long 0.70% Low $6.5m
Illumina Inc. Watchdogresearch.com/watchdog/$ILMN ILMN Long 0.69% Low $2.18m
Cognizant Technology Solutions Corp. Watchdogresearch.com/watchdog/$CTSH CTSH Long 0.68% Low $1.15m
Intercontinental Exchange, Inc. Watchdogresearch.com/watchdog/$ICE ICE Long 0.68% Low $2.09m
American International Group Inc. Watchdogresearch.com/watchdog/$AIG AIG Long 0.66% Low $1.29m
Southern Co. Watchdogresearch.com/watchdog/$SO SO Long 0.66% Low $2.02m
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
S&P Global Inc. Watchdogresearch.com/watchdog/$SPGI SPGI Long 0.65% Low $3.12m
United Parcel Service Inc. Watchdogresearch.com/watchdog/$UPS UPS Long 0.65% Low $4.76m
Home Depot Inc. Watchdogresearch.com/watchdog/$HD HD Long 0.65% Low $10.8m
Cigna Corporation Watchdogresearch.com/watchdog/$CI CI Long 0.63% Low $2.56m
Dollar General Corp. Watchdogresearch.com/watchdog/$DG DG Long 0.63% Low $1.64m
Costco Wholesale Corp. Watchdogresearch.com/watchdog/$COST COST Long 0.63% Low $5.53m
The Charles Schwab Corporation Watchdogresearch.com/watchdog/$SCHW SCHW Long 0.62% Low $3.61m
Autodesk Inc. Watchdogresearch.com/watchdog/$ADSK ADSK Long 0.61% Low $2.03m
Dominion Energy Inc. Watchdogresearch.com/watchdog/$D D Long 0.60% Low $1.87m
Mcdonalds Corp. Watchdogresearch.com/watchdog/$MCD MCD Long 0.60% Low $5.45m
Fedex Corp. Watchdogresearch.com/watchdog/$FDX FDX Long 0.60% Low $2.31m
Bank Of America Corp. Watchdogresearch.com/watchdog/$BAC BAC Long 0.60% Low $9.83m
Capital One Financial Corp. Watchdogresearch.com/watchdog/$COF COF Long 0.59% Low $2.19m
Pnc Financial Services Group, Inc. Watchdogresearch.com/watchdog/$PNC PNC Long 0.58% Low $2.56m
Eog Resources Inc. Watchdogresearch.com/watchdog/$EOG EOG Long 0.58% Low $1.54m
Atlassian Corp. Plc. Watchdogresearch.com/watchdog/$TEAM TEAM Long 0.57% Low $1.06m
Target Corp. Watchdogresearch.com/watchdog/$TGT TGT Long 0.57% Low $3.8m
Mastercard Inc. Watchdogresearch.com/watchdog/$MA MA Long 0.57% Low $10.1m
Aon Plc Watchdogresearch.com/watchdog/$AON AON Long 0.56% Low $1.69m
Workday, Inc. Watchdogresearch.com/watchdog/$WDAY WDAY Long 0.55% Low $1.4m
Blackstone Group L.P. Watchdogresearch.com/watchdog/$BX BX Long 0.55% Low $2.09m
Paypal Holdings, Inc. Watchdogresearch.com/watchdog/$PYPL PYPL Long 0.55% Low $10.8m
The Walt Disney Company Watchdogresearch.com/watchdog/$DIS DIS Long 0.54% Low $10.1m
Chubb Ltd. Watchdogresearch.com/watchdog/$CB CB Long 0.54% Low $2.25m
Nextera Energy Inc. Watchdogresearch.com/watchdog/$NEE NEE Long 0.53% Low $4.54m
Net ix Inc. Watchdogresearch.com/watchdog/$NFLX NFLX Long 0.52% Low $7.21m
Anthem, Inc. Watchdogresearch.com/watchdog/$ANTM ANTM Long 0.52% Low $2.96m
Verizon Communications Inc. Watchdogresearch.com/watchdog/$VZ VZ Long 0.52% Low $7.34m
Southern Copper Corp. Watchdogresearch.com/watchdog/$SCCO SCCO Long 0.51% Low $171k
Tjx Companies Inc. Watchdogresearch.com/watchdog/$TJX TJX Long 0.51% Low $2.57m
Us Bancorp Watchdogresearch.com/watchdog/$USB USB Long 0.50% Low $2.42m
Oracle Corp. Watchdogresearch.com/watchdog/$ORCL ORCL Long 0.50% Low $4.28m
Comcast Corp. Watchdogresearch.com/watchdog/$CMCSA CMCSA Long 0.50% Low $8.22m
Waste Management Inc. Watchdogresearch.com/watchdog/$WM WM Long 0.50% Low $1.87m
Travelers Companies, Inc. Watchdogresearch.com/watchdog/$TRV TRV Long 0.49% Low $1.19m
Freeport Mcmoran Inc. Watchdogresearch.com/watchdog/$FCX FCX Long 0.47% Low $1.72m
Facebook Inc. Watchdogresearch.com/watchdog/$FB FB Long 0.47% Low $26.3m
Marsh & Mclennan Companies, Inc. Watchdogresearch.com/watchdog/$MMC MMC Long 0.47% Low $2.26m
Exelon Corp. Watchdogresearch.com/watchdog/$EXC EXC Long 0.47% Low $1.37m
Alphabet Inc. Watchdogresearch.com/watchdog/$GOOGL GOOGL Long 0.46% Low $23.2m
Alphabet Inc. Watchdogresearch.com/watchdog/$GOOG GOOG Long 0.46% Low $22.5m
Cme Group Inc. Watchdogresearch.com/watchdog/$CME CME Long 0.45% Low $2.41m
Norfolk Southern Corp. Watchdogresearch.com/watchdog/$NSC NSC Long 0.44% Low $2.09m
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Company Access Details Ticker Held Current GSEF Category Value
Duke Energy Corp. Watchdogresearch.com/watchdog/$DUK DUK Long 0.44% Low $2.4m
Schlumberger Limited Watchdogresearch.com/watchdog/$SLB SLB Long 0.43% Low $1.42m
Union Paci c Corp. Watchdogresearch.com/watchdog/$UNP UNP Long 0.43% Low $4.62m
Accenture Plc. Watchdogresearch.com/watchdog/$ACN ACN Long 0.43% Low $5.93m
American Express Co. Watchdogresearch.com/watchdog/$AXP AXP Long 0.42% Low $3.4m
Snow ake Inc. Watchdogresearch.com/watchdog/$SNOW SNOW Long 0.41% Low $912k
Servicenow, Inc. Watchdogresearch.com/watchdog/$NOW NOW Long 0.41% Low $3.42m
Fiserv Inc. Watchdogresearch.com/watchdog/$FISV FISV Long 0.41% Low $2.01m
Lowe's Companies Inc. Watchdogresearch.com/watchdog/$LOW LOW Long 0.40% Low $4.4m
Blackrock Inc. Watchdogresearch.com/watchdog/$BLK BLK Long 0.39% Low $3.95m
Berkshire Hathaway Inc. Watchdogresearch.com/watchdog/$BRKB BRKB Long 0.38% Low $16.5m
Sempra Energy Watchdogresearch.com/watchdog/$SRE SRE Long 0.37% Low $1.32m
Booking Holdings Inc. (Priceline) Watchdogresearch.com/watchdog/$BKNG BKNG Long 0.36% Low $2.84m
Newmont Corp /De/ Watchdogresearch.com/watchdog/$NEM NEM Long 0.35% Low $1.61m
Truist Financial Corp - TFC Long - NA $2.36m
Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 This is a story about four people investing in ETFs. They are named Everybody, Somebody, Anybody and Nobody.
Everybody wanted to buy ETFs because ETFs are such great investments. “Not so fast,” said Somebody. “Nobody should buy an ETF without rst understanding the accounting and disclosure risks for the ETF’s basket of stocks.”
Everybody scoffed: “Don’t be silly! What could go wrong? Let’s just BUY immediately! Somebody at the ETF must have done that work for us.” Anybody explained how Everybody was wrong in their thinking: “Most ETF prospectuses speci cally say Nobody at the ETF actually does traditional stock risk analysis.” Everybody read many ETF prospectuses, and, sure enough, Anybody was right! So, while Everybody should know the risks before buying an ETF, Nobody was actually doing it.
Until this report was created.
Watchdog Research, Inc. educates investors on accounting and disclosure risks.
Full Watchdog and Gray Swan Event Factor Reports offer in-depth information about identi ed risks. See more about Watchdog Research Inc. and available subscriptions below.
Watchdog Research, Inc. is an independent research organization that does not make "buy", "sell" or "hold" recommendations and does not trade in public stocks.
About Watchdog Research, Inc.
Watchdog Research, Inc. is an independent research provider and publisher of Watchdog Reports.
Watchdog Research analysts track gray swan events and critical disclosures for over 4,500 public companies. Gray swan events are reliably predictable, yet infrequent disclosures that expose a company's failures in accounting, internal controls, management integrity and which negatively impact stock prices or increase probabilities for a lawsuit.
Watchdog Reports identify red ags, issues, and other anomalies in nancial reporting. The reports contain warning signs, red ags, material disclosures, and peer analysis for use in valuation, risk analysis, due diligence research, and idea generation. Watchdog Reports are designed to assist investment professionals ful ll their duciary or suitability obligations and to help investors, executives, board members, regulators and educators learn what they need to know about publicly traded companies.
Watchdog Research, Inc. is headquartered in Ave Maria, FL, and it utilizes over 75 specialists and analysts to provide accurate and timely information to its readers. So far, it has delivered 300,000 public company reports to over 27,000 individuals, from over 9,000 investment rms and to 4,000+ public company corporate board members.
Watchdog Reports
An annual subscription to Watchdog Reports costs $5,000 per year per individual subscriber (group subscription rates available). Subscriptions provide unlimited access to 4,500+ public company Watchdog Reports. Reports are updated weekly. A subscription can also entitle users to download the reports weekly on Factset, Re nitiv (ex Thomson Reuters), Capital IQ or other platforms. Each company Watchdog Report identi es red and yellow ags, issues and other risks for the named company. A full report includes in-depth details and lists original SEC lings and source documents. Reports contain warning signs, attention ags, material disclosures, and peer analysis for use in valuation, risk analysis, due diligence research, and D&O insurance underwriting.
Gray Swan Event Factor Reports
An annual subscription to our Gray Swan Event Factor Reports costs $8,000 per year per individual subscriber (group subscription rates available). A GSEF annual subscription automatically includes a subscription to our Watchdog Reports. The GSEF is a forward looking valuation factor. It identi es the percent a stock’s price is overstated when accounting for the likelihood of a future negative accounting or disclosure event. These risks are di cult to quantify and tend to be ignored or disregarded as negligible. However, they often lead to substantial losses with each underlying stock. Before buying, selling or recommending a stock, anyone with a duciary or suitability obligation should review the stock’s Gray Swan Event Factor to quantify the stock’s potential losses for future accounting and disclosure risks. GSEF Reports are updated weekly on our website and quarterly on Factset, Re nitiv (ex Thomson Reuters), Capital IQ and other platforms. The full paid version includes detailed break-outs of contributing risk factors, with links to original source materials.
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Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272